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Millennials Will Crash the Economy. Good Job!

credit cards The only way a financial bubble can end is to collapse. But the more obvious it becomes that the economy is on an unsustainable path, the more vested interests will try to extend it, making the crash even worse. As a result, even though it is going to be grim, signs that they are no longer going to be able to sustain the economy are actually good news. Did you know that 61 percent of Millennials don't own one credit card? At his Global Economic Analysis blog, Mish quotes from MarketWatch: Read more [...] Continue reading →

Obama Economy Driving Mexicans Back to Mexico

immigration Three years ago Mark Horne wrote a post on how the bad economy was making more immigrants leave than stay. At the time (believe it or not) Barack Obama claimed, So we've put more Border Patrol on than any time in history and the flow of undocumented workers across the border is actually lower than it's been in 40 years. But Mark pointed out that the reason for the decline was the Obama economy was so bad. Immigrants were moving back South because they couldn't find work. I had assumed that Read more [...] Continue reading →

Fannie Mae & Freddie Mac Take a Pay Cut

lawyers in congress At last, there is something to cheer about in Congress.  According to The Washington Post, the House passed a bill to cut the pay raises to the CEOs of the Fannie Mae and Freddie Mac lending companies. From The Washington Post's story: The U.S. House of Representatives voted to approve a bill that would suspend new annual target compensation of $4 million each for Freddie Mac CEO Donald Layton and Fannie Mae CEO Timothy Mayopoulos. If signed into law by President Obama, the bill would return Read more [...] Continue reading →

The Democrat Legacy: Low Wages

minimum wage Politico had an interesting headline this weekend: "The Democrats' wage problem." Democrats were gleeful this week when Donald Trump blurted out in Tuesday's debate that “wages [are] too high.” But as Hillary Clinton, Bernie Sanders and Martin O'Malley prepare to debate Saturday night, the Democrats have a wage problem of their own: American incomes have dropped during the Obama presidency. It's a vulnerability that Republicans haven't figured out how to exploit, and it's clearly one of the Read more [...] Continue reading →

Former GAO Head: Debt is Triple What is Accounted For

indebtwetrust I wrote awhile back that Barack Obama doubled the national debt. But I was using conventional accounting. The real debt may be far higher. Thus, The Hill reports, "Ex-GAO head: US debt is three times more than you think." The former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the oft-cited figure of $18 trillion. Dave Walker, who headed the Government Accountability Office (GAO) under Presidents Bill Clinton and George W. Bush, said when you add up all Read more [...] Continue reading →

Failed Obamacare Co-Ops Add to the Cost of the "Affordable Care Act"

obama approval dropping in ohio At the risk of sounding like a broken record, there's more to be upset about in regard to Obamacare. After the Affordable Care Act was passed and the government started  setting up, there were some areas where there weren't many insurers, so Congress set up healthcare co-ops to insert some competition into those areas to make sure there were affordable options.  So we see that from the beginning, the idea of a government healthcare plan was bad for the economy.  It was so bad Read more [...] Continue reading →

The Battle is Not Over for Airbnb

belo-200x200-4d851c5b28f61931bf1df28dd15e60ef The defeat of Proposition F in San Francisco is not the end of political struggles for Airbnb.  (See my earlier piece.)  According to the LA Times, the internet lodging rental service faces more attempts by municipalities across the country who want to impose more regulations on the $25 billion company. Here's a part of the Times' report: At a Wednesday press conference, a top Airbnb executive said the company plans to build on its success in the Bay Area, where it relied on a "people-to-people Read more [...] Continue reading →

Job Numbers Are Propaganda

Nonfarm 2015-11D The job numbers are designed to disguise a damaged economy. We often remind you on this blog not to trust the job numbers. Nothing has changed with the new report last week. CNS News reports, “Labor Force Participation Remains at 38-Year Low; 94,513,000 Not in Labor Force; Unemployment Ticks Down to 5.0%.” The number of Americans not in the labor force last month totaled 94,513,000 -- a slight improvement from the 94,610,000 not in the labor force in September--but the labor force participation Read more [...] Continue reading →

Airbnb Wins a Victory for All of Us

1504628773357128744 It feels like every time someone comes up with a way for the average Joe to make money from a good idea and to provide a needed service for the general public at a reasonable price, someone--either the existing business that wants a monopoly on the service or the government--does something to throw a wrench in the works. This was the case with Airbnb.  In San Francisco, a ballot initiative called Proposition F was the culprit.  Here is the beginning of a short description of the initiative found Read more [...] Continue reading →

Barack Obama Has Doubled the National Debt while in Office

crash and burn cash The national debt has grown by almost ten trillion dollars—thanks to Democrats and Republicans. The Washington Times reports, When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man. Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency Read more [...] Continue reading →

Rand Paul Stands Against Increasing the Debt Ceiling

rand paul cspan For six years we Republicans have griped about what Obama has done to the national debt, so why are we helping him borrow more? The truth is the sequester was barely a reduction of spending. What we needed and still need at the very least is a spending freeze. We should be talking about reducing the budget, eventually. But a spending freeze would at least be a step in the right direction. Where are the fiscal conservatives who were elected by the Tea Party Republicans?  Where is Ted Cruz on Read more [...] Continue reading →

The Stronger the Family, The Stronger the Economy

baby1_2616677b Research shows that there is a solid correlation between strong families and strong economies.  A report produced by the American Enterprise Institute posits 4 basic  points showing how family life affects a society's economic structure. Higher levels of marriage, and especially higher levels of married-parent families, are strongly associated with more economic growth, more economic mobility, less child poverty, and higher median family income at the state level in the United States. When Read more [...] Continue reading →