Loretta Lynch and Terrorist Money Launderers

Since we’ve had reason to write about the strange priorities of Loretta Lynch, worrying more about possible future anti-Muslim rhetoric than actual people being killed, perhaps it would be helpful to remember her past record. Before she was U.S. Attorney General, she had a case that related to terrorism. According to The P.C. Graveyard, “Loretta Lynch Lets Bank Execs Escape Jail for Money Laundering for Terrorists.” When Loretta Lynch was a US Attorney General for the Eastern District of New Read more […]

Homeownership Falls under the Obama Economy

People keep talking about a “recovery.” The rest of us wonder what they are talking about. Perhaps a “recovery” means the successful inflation of housing prices. “The value of homes has recovered.” Right. So now no one can afford them. Ryan McMaken addresses the issue at Mises.org: “Thanks, Janet Yellen: Homeownership in US Falls to 25-Year Low.” I do not regard homeownership rates as a proxy measure of economic prosperity. But, in the United States, increasing homeownership has long been Read more […]

Who Killed the Middle Class?

The Los Angeles Times published a grim headline: “Middle-class families, pillar of the American dream, are no longer in the majority, study finds.” The nation’s middle class, long a pillar of the American economy, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study. Rapid growth of upper-income households, coupled with an increase in less-educated, low earners, has driven the decline of the middle-income population to a hair Read more […]

Democrats Support Subsidies for the Rich

They fight for taxpayer subsidies for the rich while claiming to stand against income inequality. It is a shame that half of Republicans support the Export-Import Bank, but it is telling that nearly all Democrats do so. This was documented recently in the Washington Examiner: In order to overcome the opposition of the House majority leader, speaker-elect, the House Financial Services Committee chairman, and most Republicans on the committee, Democrats got behind a Discharge Petition that eventually Read more […]

More Obama Economy News: Half of Americans Have No Savings

From CNBC: “Nearly half of Americans have no savings: Survey.” Short on savings? You’re not alone. Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don’t even have a savings account, according to a new survey from GOBankingRates. The rate comparison website surveyed 5,000 people and found just 29 percent of them had $1,000 or more in savings account. The article produces another group that has a slightly more optimistic outlook, but even if Read more […]

Media: Central Bankers Have a Special New Excrement Sandwich and You Are Going to Love It!

Central bankers are now planning to confiscate money from depositors and the media reports this as a bold innovation that will help the economy. The tone of this article is fascinating. It is like a doctor telling a patient he has terminal cancer by telling him a joke about it. Except in that scenario, the doctor did not cause the cancer. But the central bankers are planning on robbing people and they are announcing this as the best news for us, the little people. The media simply writes their Read more […]

Ted Cruz and Goldman Sachs

Mrs. Cruz’s career raises the question of the relationship between Ted Cruz and Goldman Sachs. The headline at Bloomberg.com raises an interesting point: “Ted Cruz Omits Goldman Sachs From Description of Bread-Baking Wife.” Ted Cruz, kicking off his 2016 campaign for the U.S. presidency, extolled his wife’s entrepreneurial spirit by telling of her grade-school bakery business. He didn’t mention the 10-year career at Goldman Sachs Group Inc. she just put on hold. Cruz, a Republican Read more […]

So How Smart Was Boasting in the Stock Market, Mr. President?

Only two months ago Barack Obama claimed he saved the stock market. Earlier this month I pointed out that not even Politifact could support the President’s boasting in the economy. Indeed, Obama’s boasting was immense. Consider this Business Insider report from exactly two months ago: “Obama: I saved the stock market.” President Barack Obama says he saved the American economy … and its stock market. Obama did a victory lap on comedian Marc Maron’s podcast, WTF, earlier this week, and Read more […]

Rand Paul Attacks the Federal Reserve

Why should these statements by Rand Paul be considered so radical when the media is constantly attacking the corrupt and the wealthy? Rand Paul wrote an editorial with Mark Spitznagel at Reason.com entitled, “The Federal Reserve is Not Your Friend.” It begins with what I think is one of the clearest illustrations of the absurdity of our current political system. Imagine that the Food and Drug Administration (FDA) was a corporation, with its shares owned by the nation’s major pharmaceutical Read more […]

Greek Banks: We Will Let You Give Us Your Money Now!

Why would anyone trust the Greek banks with their money when they are still limited in what they can withdraw? This seems like an amazing con game to me. Can you imagine going for days when you were only permitted to take a little bit from your bank, and ATMs were often out of cash, before reading this headline? “Greece: Banks Can Reopen … for Deposits.” Then comes the tagline: “Deposits Are Welcome, Finance Chief Says.” Greek banks will reopen Monday after a three-week closure, Read more […]

What Does a Collapsing Country Look Like? Buying Spree

Since Americans are headed toward the same fate, a collapsing country like Greece can provide a hint of what’s to come. The Greeks want to buy stuff. They are scrambling to do so. The reason is rather simple: they trust the right of possession more than they trust the banks. As the New York Times headline put it, “Greeks Spend in Droves, Afraid of Losing Savings to a Bailout.” Business has been so brisk in the giant Kotsovolos appliance and electronics store in this upper-middle-class Read more […]

China Collapse Worse than Greece?

Australia media is reporting on a China collapse that might be “monstrous.” An Australian news outlet is reporting, “Chinese chaos worse than Greece.” WHILE the world worries about Greece, there’s an even bigger problem closer to home: China. A stock market crash there has seen $3.2 trillion wiped from the value of Chinese shares in just three weeks, triggering an emergency response from the government and warnings of “monstrous” public disorder. And the effects for Australia Read more […]