TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Tuesday, February 26, 2013

Government Spending Cuts? No. Spending Increases. We have head about the trillion dollars in automatic spending cuts. It’s headline news. That’s part of the decade flim-flam. The government always reports one full decade’s cuts. But it never, ever mentions in these reports regardung the Congressional Budget Office’s estimate of total federal spending over the decade: $47 trillion. You mean that the... READ MORE Big Bank Bailout Rolls On: $83 Billion a Year U.S. taxpayers cough up $83 billion every year for the 10 largest U.S. banks. The top five get about $64 billion. This is equal to their total profits. The public does not know this. Congress does not know this. Top bankers know this, because the story of how banks do it was published by the ... READ MORE 85% Hike in Long-Term Care Insurance Premiums So, you think you are going to have long-term care if you need it. You have paid premiums for years. The joke’s on you! The company can get you off its books easily. It just doubles the premium. You go away. Tough luck, sucker! Think it can’t happen? Click the link. ... READ MORE New Homes Sold in the USA: Popped Bubble There is a housing recover in the “sand states,” where the crisis was the worst. But any suggestion that happy days are here again is refuted by the graph from the Federal Reserve Bank of St. Louis. New home sales have barely recovered to the bottom sales in previous recessions. The middle class has not ... READ MORE “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