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Economy

The Stock Market v. the Economy

stock market What is good for the stock market is not necessarily good for the American people. Sometimes the stock market reveals economic reality. A sudden plunge usually means that people are realizing that economic productivity was being grossly exaggerated. So now they are making a “correction.” [See also, “Did the Stock Market Receive a Secret Bailout?”] But other times the stock market is a distraction from economic reality. Here is an example: “Stocks Are Mixed as Crude Oil Closes Worst Read more [...] Continue reading →

PolitiFact is Too Ashamed to Lie for Obama Economy

obama-economy11 PolitiFact exposes the President’s Claim to Jon Stewart that the economy is better "by every metric." I think of PolitiFact as mostly regime propaganda, but sometimes the lies are so outrageous that they can’t pretend otherwise. Thus, we read, During his farewell visit to Jon Stewart’s Daily Show, President Barack Obama took a bit of a victory lap. At one point in the extended interview posted online, Obama said, "Here's the thing I can say, Jon. I can say this unequivocally: The VA Read more [...] Continue reading →

The Blessing in the Homeownership Plunge

housing bubble The homeownership rate is the lowest it has been in almost fifty years, but that isn’t ALL bad. Here is yet more evidence that Americans are right to be afraid of the Obama economy and the mythical Obama recovery. As CNBC reports, “Homeownership rate drops to 63.4%, lowest since 1967.” The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter Read more [...] Continue reading →

After Greece, Will Italy be Next?

fall-of-rome The capital of Italy is said to be on the verge of collapse. Spain or Portugal may go first, but this story in the Telegraph about the situation in Rome makes me wonder if Italy is going to be next to follow Greece despite the competition for that “honor”: “Rome is on the verge of collapse and needs urgent repair, leaders warn.” The Eternal City is facing crisis, with its administration engulfed in corruption scandals and debt, its roads scarred by pot-holes, the main airport partially Read more [...] Continue reading →

Venezuela Hyperinflation: This Is Where Socialism Goes, and So Do We

crash and burn cash Both Greece and Venezuela show us slightly different versions of the future we are being led into, but no one tries to stop it. I think the most frustrating thing about what is going on in the world right now is that we are all simply accepting that there is no other path we can travel. We are just standing in a single line to a very unpleasant crisis, with no thought of breaking out of it. Our only comfort is that other nations are ahead of us in line. That doesn’t help unless we use the Read more [...] Continue reading →

CBO Admits There is No Way to Predict U.S. Financial Crisis

fiscal cliff_02 Since I posted yesterday about one cause of our impending financial crisis, here’s another issue mentioned by the Congressional Budget Office. I have written about how using fantasy figures as the basis for pensions is sending us into a financial crisis, but there are other problems as well. Even the Congressional Budget Office is admitting to the seriousness of our situation. CNS News reports, “CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII; 'No Way to Predict Whether or When' Read more [...] Continue reading →

Insight into How We Are Turning into Greece

Debt Hits the Fan In order to turn a town, city, state, or nation into Greece, you just need obscure terminology and plausible deniability. The New York Time’s Dealbook blog has a great recent post: “Bad Math and a Coming Public Pension Crisis.” The thing to remember when you read the post is that someone could have reported this five years ago or ten years ago. It could have been an above-the-fold headline instead of a blog post. It could have been a series of stories. But no one at the Times wants Read more [...] Continue reading →

What Does a Collapsing Country Look Like? Buying Spree

euro 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 [...] Continue reading →

Before the Greek Debt Crisis Did Audiences Love the Movie “300”?

this is sparta Does the Greek debt crisis show us how “bread and circuses” is still as accurate a description of how empires pacify the masses as ever? You remember the movie, "300," right? It was an R-rated action movie celebrating a historic victory of 300 Spartans over the Persians. It was pretty gruesomely violent, so I’m not recommending it. A thought occurred to me yesterday as I read this NPR story: I'll bet "300" was a popular movie in Greece. Even if not always as completely subsidized, Read more [...] Continue reading →

National Black Chamber of Commerce: EPA Rules Will Impoverish Minorities

coal The National Black Chamber of Commerce wants to know how minorities will be able to afford energy after EPA regs spike prices. I realize that Liberals will probably scoff at the National Black Chamber of Commerce as a “conservative” organization. But they never care about bias when they get support from Liberal black organizations. Besides, their statement is just common sense. Poor people will be devastated when energy prices are forced upward. But another factor will be jobs. If power Read more [...] Continue reading →

China Collapse Worse than Greece?

stock market crash 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 [...] Continue reading →

Why Hillary Clinton Can’t Promise Much to an Allegedly Homosexual Youth

us over cliff Though Hillary Clinton got some easy PR by commenting about a homosexual youth on Facebook, wishes are not the same as facts. The New York Times served as Hillary Clinton’s campaign loudspeaker: “Hillary Clinton Reassures Gay Youth in Viral Facebook Photo.” Hillary Rodham Clinton offered moral support to a distraught gay youth who shared his anxiety about his future in a viral photograph posted on the Humans of New York Facebook page, telling him on Friday that it would be “amazing.” The Read more [...] Continue reading →