TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Saturday, December 8, 2012

WEEK IN REVIEW: The top stories of the week Home Prices Will Fall Through Next June, Minimum Over half of American homes will drop in price between now and next June. That is the conclusion of an article on CNN. This has to do with the fiscal cliff, we are told. The fiscal cliff will produce a recession. The question is this: Why won’t we get a recession anyway? The signs are... READ MORE More Homeowners Over 50 Are Defaulting on Their Mortgages A community college in Pennsylvania has turned 400 full-time teachers into part-timers. It will save $6 million in ObamaCare expenses. They had no medical insurance before, but they had full-time jobs. Now they will have neither. All across America, businesses will be imitating this school. Marginal workers will be fired or turned into part-timers. ObamaCare... READ MORE Vacant Homes: 14 Million (Early 2009), 14 Million (2012) Has housing bottomed? No. In early 2009, there were 14 million empty houses in the United States, for whatever reason. In October 2009, there were 18.8 million. In 2011, there were 18.4 million. Today, there are 14 million. In other words, we are back to the level of early 2009. That was a recession year.... READ MORE Santa’s Greatest Gift: Online Price Wars The free market is making available low-cost Christmas gifts. Here is an example: a video game that went from $50 to $15 in 7 days. A price war broke out. Amazon drove down the price. Walmart and Target followed suit. It pays to shop online. It pays to wait to buy presents. There is no... READ MORE Suckers Line Up to Lend to the U.S. Government at 0.1% People and institutions still lend money for 90 days to the U.S. government in order to earn a tenth of one percent per year interest. They trust the government. Yet the fiscal cliff charade goes on. The U.S. government cannot pay its bills without borrowing more money. The whole world knows this. But the “smart... READ MORE