TEA PARTY ECONOMIST

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

Cyprus Parliament: "Stuff It, Eurocreeps!" The members of the Cypriot Parliament overwhelmingly told the EuroGroup to take a hike on March 19. The secret group with no official name and no official power thought it would force the government of Cyprus to impose a tax on all bank depositors . . . "just this once. We promise." It was a... READ MORE The Head of the Cyprus Central Bank is Named Panicos (Panic Us). Panicos Demetriades said that the banks could lose 10% of their deposits within days after they re-open if the tax is imposed. Parliament got the message. It did not do what it was told by the President to do. It told the Eurocrats to buzz off. No tax. Now the government must open the banks'... READ MORE Kilowatt Money: Zombie Economics for Naive Conservatives Gary North's Reality Check The conservative movement has always been filled with monetary cranks. This has been true for well over a century. These cranks have never read a book on economics. They have never taken a class in economics. They have zero practical experience in finance. They come before the conservative public and present... READ MORE Variety Lays Its Last Daily Egg Variety, the gossip newspaper for Hollywood for almost 80 years, has published its last daily issue. It's the end of an era, fortunately. Published on paper, nobody under age 50 read it. It was long overdue for the last print run. One by one they go. Nobody really cares. It will be online. It will... READ MORE 56 People Killed, 200 Wounded in Baghdad Bombings on 10th Anniversary of Shock and Awe Sunni Muslims sure do know how to pick their anniversaries and their victims. Thus, we are reminded once again of the outcome of Bush's war in Iraq — a war not officially declared by the U.S. Congress, in opposition to the United States Constitution (Article I, Section 8). But Congress then funded it. What did... READ MORE 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