TEA PARTY ECONOMIST

The TEA PARTY ECONOMIST Ron Paul's original staff economist, Dr. Gary North! Wednesday, April 3, 2013

“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 Penney Wise, But Way Too Late: CEO’s Pay Slashed 98% The CEO of J. C. Penney just had his pay cut by 98%. How much will he be paid? About $2 million. This means he was being paid over $50 million. Why did anyone think he was worth this much? He ran the struggling company’s profits into the ground. He ruined its original marketing position [...] READ MORE Investors (Suckers) Say They Have Things Under Control A recent survey by Fidelity, the mutual fund company, reveals that people say they have reduced their debt, are saving more, and they are confident that they are on the road to a safe, secure retirement. This was heralded as a new era for investors. Do the facts in the report confirm this? No. Today, [...] READ MORE Public Schools Give Kids Attention Deficit Disorder. In a recent study requiring 76,000 telephone interviews, the Centers for Disease Control spent a bundle of money. Nobody at the CDC is saying how much money. What did the CDC find? That almost 20% of boys in public schools squirm a lot. This is twice as many as girls. The CDC has diagnosed this [...] READ MORE Blind Church, Idiotic Law, Great TV News Story: Dumped Food An Atlanta store went out of business. Before it closed, it called a local church. Did the church want the store’s inventory to give away to the poor? Sure, someone at the church said. But no one showed up to haul it away. So, the church offered the food for free to the public. The [...] READ MORE Stockton, California Emerges from Banpruptcy. Will It Cut Pension Payments? The City of Stockton has officially gone bankrupt. But it is still paying pensions. The other creditors are complaining. What entitles pensioners to get paid, when no one else is getting paid? The judge overruled them. But if Stockton gets away with this, the California pension system will be in trouble. Cities will stop contributing [...] READ MORE Army’s $900 Million in Warehouses Full of Useless Vehicle Parts The Pentagon got caught by the Defense Department’s Inspector General’s office. Again. This time it was for a military vehicle called the Stryker. It has $900 million in spare parts in just one warehouse. It keeps thousands of these vehicles in warehouses around the nation. It has so many Strykers that it lost track of [...] READ MORE Video: The Origin of Gun Control in America in 30 Seconds Liberals want gun control. They never mention where they got the idea. In 30 seconds, here’s the “background check” on where they got the idea. READ MORE 71st Anniversary: Roosevelt’s Concentration Camps On April 1, 1942, California announced the order for the arrest and deportation of Japanese citizens in California. They were sent into internment camps — read: concentration camps in Idaho. Here are photos and an accompanying account. Here are other photos. We all know this story. President Roosevelt signed an executive order on February 19, [...] READ MORE