Welfare-Warfare State

It’s Fast Becoming the Entitlement-Crony Complex

"The crony military-industrial complex still exists, but it is quickly becoming second fiddle to the Entitlement-Crony Complex. From Social Security, to Medicare to food stamps and free cell phones, the voting public is being manipulated for its vote. At the same time the crony elitists have expanded well beyond the military, and include Big Pharma and crony insurance, among many others. And, of course, the banksters always collect their fees." Continue reading →

Continue ReadingIt’s Fast Becoming the Entitlement-Crony Complex

Top Dems urging Obama to raise debt ceiling all voted against increase in ’06

"On Friday the Democratic leadership of the Senate — Majority Leader Harry Reid, Assistant Majority Leader Richard Durbin, Conference Chair Charles Schumer, and Conference Secretary Patty Murray —wrote to President Obama urging him to unilaterally raise the debt ceiling in the event that Republicans either block such an increase or attempt to pass one 'as part of unbalanced or unreasonable legislation.' Put aside the picture of leading lawmakers, usually so jealous of their constitutional prerogatives, asking the president to ignore Congress. Every one of the letter's signers voted against raising the nation’s debt ceiling just seven years ago." Continue reading →

Continue ReadingTop Dems urging Obama to raise debt ceiling all voted against increase in ’06

Watchdog: U.S. postal service in desperate need of rescue from Congress

"The postal service has reached its $15bn credit limit with the US Treasury, and has in effect run out of money. 'This is the year that they borrowed so much that they can’t borrow any more,' Williams said. Asked whether the USPS will need a bailout this year, Williams replied: 'Yes. The choices are that it would cease to exist or it would need a bailout.' Williams said he did not expect the USPS to require taxpayer dollars, but instead that it would require congressional intervention, perhaps to reduce the pension payments." Continue reading →

Continue ReadingWatchdog: U.S. postal service in desperate need of rescue from Congress

Why Expansionist Central States Inevitably Implode

"We are at the inflection point indicated on the chart where the lines cross, just before the crisis: tax revenues are lagging spending in an enormous structural deficit; the State dominates the economy and its spending cannot possibly be contained, due to the political promises made to entitlement constituencies, fiefdoms and cartels, and the drag of unproductive State spending has sent the economy into systemic decline. Each constituency, cartel and fiefdom is convinced that they are acting in their own best interests in demanding more State funding and subsidies." Continue reading →

Continue ReadingWhy Expansionist Central States Inevitably Implode

The safest place in the world

"Every few hundred years, wealth and power shifts. This has happened so many times before, it’s hard to even keep track. Mesopotamia. Persia. Macedonia. Greece. Roman Empire. Byzantium. Mongolian Empire. Ming Dynasty. Ottoman Empire. Habsburg Empire. French-Bourbon Monarchy. British Empire. Third Reich. United States of America. This change is as old as human civilization itself. And it’s happening again. Decades of unsustainable debt have caught up to the West, and wealth and power are once again shifting." Continue reading →

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China may cut U.S. debt holdings

"China’s sovereign wealth fund, which has more than $480 billion in assets, could cut holdings of US Treasury Bonds as they are becoming a less attractive investment, state media said Tuesday. The Shanghai Securities News quoted Lou Jiwei, chairman of sovereign wealth fund manager China Investment Corp (CIC), as telling a conference in Hong Kong on Monday that the US economic recovery had made other investments appealing. China has the world’s largest foreign exchange reserves and according to US government figures is the largest foreign holder of US Treasuries with $1.16 trillion at the end of October last year, the latest available statistic." Continue reading →

Continue ReadingChina may cut U.S. debt holdings

Bernanke urges Congress to lift debt ceiling

"US Federal Reserve Chairman Ben Bernanke on Monday urged Congress to raise the nation’s borrowing limit as Democrats and Republicans battle over the federal budget. 'It’s very, very important that Congress take the necessary action to raise the debt ceiling to avoid the situation where the government doesn’t pay its bills,' Bernanke said at a University of Michigan forum. The United States ran up against its current borrowing limit of $16.4 trillion at the end of 2012, but the Treasury says it is using 'extraordinary measures' to extend the limit until late February." Continue reading →

Continue ReadingBernanke urges Congress to lift debt ceiling

Americans Realize Washington Is the Problem, Support Cap to Control Spending

"Here’s some new polling data that seems very encouraging. Americans, by an overwhelming margin, think that Washington is causing serious harm to the nation. That same poll also found strong support for a limit on federal spending, which warms my heart since I’ve been trying to build support for a Swiss-style spending cap in America. I also was shocked to see another poll that found French and Italians were more supportive of spending cuts than Americans." Continue reading →

Continue ReadingAmericans Realize Washington Is the Problem, Support Cap to Control Spending

Food Shortages in Venezuela Bigger Worry Than Constitution

"At a bustling food market in downtown Caracas, armed officers belonging to President Hugo Chavez’s National Bolivarian Guard marched by boxes of lettuce and tomatoes, checking prices and storage rooms. The inspection is part of a nationwide campaign to crack down on over-pricing and hoarding the government blames for shortages of basic goods, from toilet paper to sugar. The government said today that consumer prices in December jumped the most in 2 1/2 years, highlighting the growing economic problems that are amassing as Chavez’s battle with cancer unleashes a power struggle." Continue reading →

Continue ReadingFood Shortages in Venezuela Bigger Worry Than Constitution

Economic Riots and TrampleFests

"This is just a peek at what lies ahead. In a Detroit suburb, rioting ensued when a government organization attempted to hand out welfare freebies in the form of Section 8 Housing Vouchers. The county was giving out 1,000 vouchers and at least 4x that many people showed up to get the freebie. The Michigan State Police had to come in and suppress the out-of-control redistribution celebration gone wild." Continue reading →

Continue ReadingEconomic Riots and TrampleFests