TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Monday, February 23, 2013

“Lincoln” Assassinated at the Academy Awards Daniel Day Lewis won the Oscar, but the movie didn’t. He deserved it as best actor. He made the movie’s script seem believable. That took unmatched acting ability. The movie is about the 13th Amendment, which gave slaves their liberty. It spins the yarn that Lincoln pushed it through the House of Representatives by means... READ MORE Bernanke’s Subsidies: Houses and Cars “The Federal Reserve has only two policies: inflation and blarney.” — Franklin Sanders What happens when the Federal Reserve promises to create $1 trillion in fiat money per year, and then starts by buying long-term Treasury bonds and Fannie.Freddie bonds? Interest rates go up. Wait a minute. Weren’t interest rates supposed to go down? Yes, ... READ MORE Month-Old Video Suddenly Goes Viral: Defend Gun Ownership This video sat unwatched on YouTube for a month. The speaker was a candidate for the U.S. Senate in Maryland who lost the race. Without warning, this video of a farewell speech got almost 250,000 hits. He thinks it is because anti-gun legislation in Maryland is close to confiscatory. This indicates that gun owners are... READ MORE Federal Reserve Mass Inflation . . . Permanent? The president of the “conservative” Federal Reserve Bank of St. Louis said on Friday the 22nd that FOMC policy will remain loose for a long time. There is no problem, he says. This policy of buying $1 trillion a year in Treasury bonds and Fannie/Freddie bonds is more powerful than expected. This will create U.S. ... READ MORE $780 Bill for Late-Showing Ambulance. The Victim Died. It was New Year’s Eve. The Washington D.C. fireforce was sick. Really sick. A quarter of them called in sick. I mean, you don’t want firemen on the job on New Year’s Eve if they’re sick. But the firemen also answer emergency calls. One man called in for an ambulance. His father was short of... READ MORE Harvard’s President Says We Shouldn’t Judge a College Degree’s Value by Graduates’ Salaries. It costs $250,000 to earn a B.A. from Harvard University. This assumes that prices will not go up over the next four years. But they always do. The president of Harvard knows that the job market is rotten for college graduates. In Atlanta, you have to have a B.A. to get a clerk’s filing job. ... READ MORE This Little Piggy: How to Retain $85 Billion in Pork Sequestration begins on March 1. This means spending cuts. Well, not exactly cuts. There will be reductions in spending increases. Both sides are aghast. The thought of a pork reduction program of $85 billion in a budget of $3.8 trillion is horrifying in Washington. Reuters calls such cuts “harsh.” The cuts will go into effect... READ MORE “Let’s You and Him Fight,” Japan’s Prime Minister Tells Obama. Shinzo Abe, Japan’s Prime Minister of the month, is meeting with President Obama. This is the fifth PM from Japan that Obama has met with. It won’t be the last. Japan has a few useless islands that China is trying to get by force. Abe wants the U.S. to back Japan in keeping these islands. ... READ MORE The Nanny State vs. Junk Food I do not eat much junk food. I haven’t since 1949. In that year, I was put on a rigorous diet by America’s first nutrition physician, Francis Pottenger. I was 7 years old. He got me well. He took me off white bread, refined sugar, and anything resembling junk food. I got well in 18... READ MORE Spending Cuts Loom for Pentagon: Automatic Sequestration The 2011 budget bill established automatic spending cuts. These will begin on March 1 unless Congress and the President agree on a way to kick the can and run up the on-budget deficit. The whole thing is a charade. The cuts are always cuts in the expected increase in spending, not actual reductions in today’s... READ MORE