TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Monday, March 18, 2013

Gold Rises, Dollar Rises, Stocks Fall: The Cyprus Disaster Begins Gold rose on the news from Europe. Stock markets plunged around the world. So did the price of oil. Over the weekend, Eurozone bureaucrats at a closed meeting came up with a plan. The committee demanded that the government of Cyprus impose a tax of 3% on all bank accounts under $130,000, and close to... READ MORE Believe a Politician and You Will Lose Your Money The president of Cyprus assured voters that he would never, ever tax their bank accounts. Now he says the government must do this. Any voter who heard this assurance should have gone to his bank immediately and withdrawn half of his money. Then he should have sent another 40% to a German bank. The other ... READ MORE DHS Orders 1.6 Billion Rounds of Ammunition. Why? Because it can. Think of Bill and Monica. He could. She could. They did. Hillary didn’t. What could Hillary have done about it? She could have divorced Bimboman. But she made it plain, early on, that she wanted to share in his power. The price? Bimbo eruptions. The smirking masses. The feminists who wagged their... READ MORE Top Banker Accused of Misleading Feds. Jamie Dimon, the most vocal, in-your-face banker on earth, has been accused in a government report for not being forthright about the losses at J. P. Morgan Chase. Then the Federal Reserve said that the bank’s capital plans are not quite right. Dimon in response said nothing. This is the first time I recall his ... READ MORE Obama Says Iran Will Have a Nuclear Weapon in a Year. Obama will be visiting with the head of the state of Israel next week. He will not visit long. He will be touring the region. He raised the issue of Iran yesterday. He said that Iran is a year away ftom having a nuclear weapon. He did not say what the evidence is for this. ... READ MORE Why Liberals Hate Conspiracy Theories Remnant Review I wrote an article on Austrian School economist Murray Rothbard. I argued that one of the reasons why tenured Austrian School economists want to distance themselves from him, is his writings on conspiracies in American history. Rothbard was quite clear about his commitment to apply Austrian economics’ theories of human action to the... READ MORE Junk Bonds Soar in Price as Investors Seek Higher Rates Junk bonds are high-risk bonds. They are rated CCC — barely above default status. They pay higher interest rates because there is risk of default. You may not get your money back. Bonds are always at risk, because interest rates can rise. When long-term rates rise, the market value of the bonds falls. In times ... READ MORE Feinstein’s Assault Weapons Bill: Dead on Arrival California’s Diane Feinstein has introduced a bill to ban about 150 types of rifles. There are not machine guns, which are under controls. These are like automatic pistols that let you fire several rounds without physically pulling back the hammer with your thumb. No one speaks of a pistol as an assault weapon, merely because... READ MORE Foreclosures Decline by 29% The foreclosure crisis is behind us. That is the opinion of the head of RealtyTrac, which monitors this market. Foreclosures and repossessions are now at the 2007 rate. Banks still hold millions of homes off the market. They have decided not to foreclose. They are going to let people live in their homes, even though... READ MORE A Civil War Inside Austrian Economics Gary North’s Reality Check The Austrian School of economics in the twentieth century was dominated by Ludwig von Mises. He died in 1973. His followers have divided into two main camps: the Rothbardians and the Lachmannites. They have adopted rival philosophies and rival strategies. The main strategy of the Lachmannites is to get tenure at... READ MORE