Wealth Recovery? Not Even Close!

The TEA PARTY ECONOMIST   Ron Paul's original staff economist, Dr. Gary North! Friday, May 31, 2013

Wealth Recovery? Not Even Close. A new report by the Federal Reserve Bank of St. Louis reveals that the wealth recovery since the bottom of the recession has been 45%. It also reveals that most of this recovery has been in the stock market. It does not mention the fact that about 20% of stock market investors own 80% of [...] READ MORE Desperate Keynesians: No Economic Recovery The New York Times is the flagship of Keynesian liberalism. It sets the tone for the American Establishment. An article on the world’s economy admits that the Keynesian cures for recession — deficits and central bank inflation — have not worked in the United States, Great Britain, and Europe. Only in Japan, and only through [...] READ MORE Jobless Claims Are Back Up. Where Are the Jobs? First-time jobless claims hit 354,000 last week. The figure had been dropping early in May. The media had started running articles on happy days are here again. Like Ginger Rogers in Gold Diggers of 1933, their song was premature. This also was bad news. More people were collecting jobless benefits: up by 69,000. The total [...] READ MORE Mortgage Rates Rise. Bernanke’s $500 Billion Subsidy Isn’t Working. Mortgage rates have risen from 3.5% to 3.8% in the last week. The Federal Reserve System buys $40 billion in mortgage bonds every month. This greatly adds to demand, keeping mortgage interest rates low. That’s the theory, anyway. But the theory is facing headwinds: rising rates. This was not supposed to happen, but it is [...] READ MORE A Man Who Shot a Killer Dog Is Fined $1,000. Unregistered Gun. In Washington, D.C., three pit bulls attacked an 11-year-old boy. A neighbor went into his home, got a 9mm pistol, and shot one of the dogs. The police heard the shots and came to investigate. They shot the other two dogs. Then they arrested the private shooter. It seems that he had not registered his [...] READ MORE The Rich Pay Most of the Taxes, Get Half the Tax Breaks. Democrats Are Outraged at Tax Breaks. The liberal Washington Post ran this headline: Richest 20 percent get half the overall savings from U.S. tax breaks, CBO says. The CBO is the Congressional Budget Office. The story began: “The 10 largest breaks in the U.S. tax code will save taxpayers more than $900 billion this year, with a little more than half [...] READ MORE Busting the College Monopoly: Latest Phase The monopoly is tottering. Ten more universities have joined Coursera, the site that posts free college courses. This project began less than 36 months ago as a part-time venture. The ten universities are tax-funded. This means that the wave of participants is about to grow like a tsunami. Any state university that refuses to participate [...] READ MORE Warren Buffett Says “Bonds Are Bad Investments.” This Upsets Bond Promoters. Bonds pay little interest, thanks to (1) the Federal Reserve’s QE3 program (2) the banker’s unwillingness to lend and the borrowers’ unwillingness to borrow. Future price inflation will raise rates. Rising rates will lower the market price of bonds. Buffett sees what is coming. He prefers stocks. One plain vanilla promoter of bonds is upset. [...] READ MORE JFK on Fascism: It Was OK for Germany and Italy, He Thought. Like a lot of American liberals in the 1930s, John F. Kennedy thought that fascism worked just fine. This fact has recently received brief attention in the British Leftist newspaper, The Independent. There has been a blackout on the story in the mainstream media. The memory hole is still deep, although the Internet is keeping [...] READ MORE Endless Silly Rumors About the FED’s Exit Plan I read this in an article about the decline in the U.S. dollar-denominated value of the Australian dollar. “That decision plus growing talk that the U.S. Federal Reserve is close to a decision to start unwinding economic stimulus, has seen the Australian dollar fall by more than 6% since the start of May.” Bernanke’s FED [...] READ MORE