TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Saturday, March 16, 2013

Busted Billionaires: How Iceland Recovered by Defaulting Iceland, in 2009, let its banks default on foreign depositors. The nation suffered a brief recession. Now it is growing. Europe is in recession. Default pays off. The nation had six multi-billionaires in 2007. Now it has none. The lone survivor has left the country. He used to have $6 billion. He lost $5 billion.... READ MORE Democracy in Europe: "You Dumb Clucks" The Eurogroup held a teleconference this evening to take stock of the situation in Cyprus. The Eurozone's decision-making institution on the euro is an informal committee of finance ministers. The committee has no official name. It has no official power. It is not voted into office. In the Lisbon Treaty, which went into effect on... READ MORE Sticking It to the Eurocrats: Cypriot Parliament May Vote No The Eurocrats did not expect this. They got the newly elected president of Cyprus to crawl on his belly. The poor dolt had promised the nation in his February 28 inaugural address that he would not consent to a bank tax. "Crawl, you powerless nonentity," the unelected, unofficial EuroGroup members told him. He did. Now... 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 Any voter who heard this assurance should have gone to his bank immediately and withdrawn half of his money.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 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 Any voter who heard this assurance should have gone to his bank immediately and withdrawn half of his money.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