TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Friday, April 5, 2013

Budget: Obama Pretends to Surrender. President Obama’s budget was due in February. It is now promised for next week. Of course, key facts — all favorable to Obama — have been conveniently leaked. The media play along. There will be changes in Medicare that will save $400 billion. Then comes the inevitable qualification: over the next 10 years. This is [...] READ MORE Hopeless Savers: 0.26% on Money Markets The plight of savers in America is hopeless. We know that price inflation is over 2% per year. What do investors get in a money market fund? A pathetic 0.26%. Then they pay income taxes on this 0.26%. What if they do not want to tie up their money for a year? Then they get [...] READ MORE Essay Exams Can Now Be Graded by a Computer College professors love true/false exams and multiple choice exams. These can be graded by a machine. It saves so much time for overworked professors who teach 9 hours a week in the top universities. (Actually, they teach 8.5 hours: ten minutes in each class are for getting to the next class.) Now, this intolerable teaching [...] READ MORE Blind Man’s Bluff: Busted Cyprus Bank Won Many Awards The Bank of Cyprus in 2011 was one of the highest-rated banks in the world. This year, it had to be bailed out by the taxpayers of the European Union, who had no say in the matter. Otherwise, it would have gone bankrupt. Yet in 2011, it was the biggest bank in Cyprus. What could [...] READ MORE Backfire on Obama — Gun Control How serious are Americans about buying guns? Enough to apply for a background check to buy one. How many Americans have applied for a background check since the day Obama was inaugurated? Go on. Guess. The answer: over 70 million. Think about this. Over 70 million adult Americans went to the trouble of identifying themselves [...] READ MORE Gun Control in Connecticut Is a Bonanza for Gun Sellers Outside of Connecticut. The state of Connecticut has tightened gun controls. There will be background checks. No more large magazines for ammo. Assault weapons are banned. This sends a message to the world outside of New York, Illinois, Connecticut, and California: buy while you still can. Buy at gun shows. Pay a little more. Get off your duff. [...] READ MORE Public Says “Butt Out, Government” on Global Warming The public is no longer buying the story of man-made global warming. So says a recent Pew poll. About 69% of the public still believes the story of global warming, despite the fact that warming stopped over a decade ago. But of those still taken in by the hoax, only 42% say that humans did [...] READ MORE QE 3 Moves to Japan The Bank of Japan has announced a quantitative easing (mass inflation) QE program that matches Bernanke’s: $75 billion a month in purchases of Japanese government bonds. This is just under $1 trillion a year. But Japan’s GDP is only $6 trillion — 40% the United States’ GDP. This is way beyond Bernanke. For the Bank [...] READ MORE “3% Down” Mortgages: They’re Back! With the Federal Reserve System buying half a trillion dollars worth of Fannie Mae and Freddy Mac IOUs a year, the mortgage market is flooded with newly created money. Lenders are now offering 3% down payment mortgages. Why, it’s 2006, back from the grave. This has breathed new life into the housing market. This does [...] READ MORE A Bite Out of Apple: Company Dropped from Preferred List Goldman Sachs has dropped Apple off its list of must-own companies. Goldman-Saschs is not alone. Why? Because the company has ceased to offer hot new products. When Steve Jobs died, I said this would happen on October 11, 2011. You can read my article here. Here is what I wrote: What goes up eventually falls [...] READ MORE