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As political events in Egypt play out, including likely contagion to other parts of Africa and the Middle East, attention is diverted from the real threat to our country -- government insolvency. From Jeff T. Allen, writing in American Thinker : There will soon be a crisis affecting US citizens beyond...
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Welfare States - R. I. P. By Monty Pelerin , posted April 15th, 2010 http://www.economicnoise.com/2010/04/15/welfare-states-r-i-p/ “The worst thing in the world next to anarchy is government.” Henry Ward Beecher Bloggers post what they claim to be the “scariest economic chart”...
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States are Broke By Monty Pelerin , posted April 10th, 2010 http://www.economicnoise.com/2010/04/10/states-are-broke/ We know that Social Security is broke. Ditto for Medicare and Medicaid. Ditto for the Federal Deposit Insurance Corporation. Ditto for the Post Office. Ditto for Fannie Mae. Ditto for...
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Wait til You See the Banking Crisis! By Monty Pelerin , posted April 6th, 2010 http://www.economicnoise.com/2010/04/06/wait-til-you-see-the-banking-crisis/ The government policy of not requiring banks to write down their assets to market values does nothing but prolong the economic crisis. In a desperate...
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Michael Kinsley’s Intuition is better than “Expert Opinion” By Monty Pelerin , posted March 28th, 2010 http://www.economicnoise.com/2010/03/28/michael-kinsley%e2%80%99s-intuition-is-better-than-%e2%80%9cexpert-opinion%e2%80%9d/ In an article in Atlantic Monthly entitled My Inflation...
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Government Choices By Monty Pelerin , posted March 24th, 2010 http://www.economicnoise.com/2010/03/24/government-choices/ This is a visualization of what the Fed is doing: The chart is from a Martin Weiss article dealing with Bernanke and Fed irresponsibility. The current path is unsustainable and must...
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Madness Now Accelerating By Monty Pelerin , posted March 23rd, 2010 http://www.economicnoise.com/2010/03/23/madness-now-accelerating/ A new data point now to be supplied by Zerohedge on a daily basis. Emphasis added by me. The largest deficit in history was the profligate George Bush. His record, $455...
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The First Euthanasia Patient By Monty Pelerin , posted March 22nd, 2010 http://www.economicnoise.com/2010/03/22/the-first-euthanasia-patient/ “House Democrats approved a far-reaching overhaul of the nation’s health system on Sunday, voting over unanimous Republican opposition to provide medical...
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Virtually every Western Democratic Government is insolvent. By Monty Pelerin , posted March 14th, 2010 http://www.economicnoise.com/2010/03/14/virtually-every-western-democratic-government-is-insolvent/ Virtually every Western democratic government is insolvent. And governments utilized the same practices...
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Government is 79% of the Economy By Monty Pelerin , posted March 13th, 2010 http://www.economicnoise.com/2010/03/13/government-is-79-of-the-economy/ Leviathan Being Destroyed Government is 79% of the Economy Welcome to the world of dysfunctional, bloated and insolvent government. CNBC recently reported...
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Obama’s “Ides-of-March” Moment is Near By Monty Pelerin , posted February 24th, 2010 http://www.economicnoise.com/2010/02/24/obama%e2%80%99s-%e2%80%9cides-of-march%e2%80%9d-moment-is-near/ In Jimmy Carter’s reign, the Wall Street Journal editorialized about “Ratcheting to...
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Free Markets Don’t End Like This By Monty Pelerin , posted January 5th, 2010 http://www.economicnoise.com/2010/01/05/free-markets-dont-end-like-this/ “My long view for the US is high inflation which will not show up in the government’s fraudulent statistics, along with a declining standard...
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U.S. Government’s Road to Perdition By Monty Pelerin , posted January 4th, 2010 http://www.economicnoise.com/2010/01/04/u-s-governments-road-to-perdition/ Image by Francisco Diez via Flickr James Quinn has posted another very informative piece. It is especially useful for those who don’t...
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“Free” Booze for State Alcoholics By Monty Pelerin , posted January 2nd, 2010 http://www.economicnoise.com/2010/01/02/free-booze-for-state-alcoholics/ … the stimulus was akin to providing a gift of booze to a recovering alcoholic. The states continue to go deeper into fiscal holes...
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HAPPY NEW YEAR, NOW GO TO THE BOMB SHELTER By Monty Pelerin , posted January 1st, 2010 http://www.economicnoise.com/2010/01/01/happy-new-year-now-go-to-the-bomb-shelter/ Stock your bunker. 2010 is apt to be ground zero for financial markets. Sixty years later, a bomb-shelter strategy once again seems...