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Economy - Economics USA

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Goldman Sachs Group Inc. said it has repurchased warrants given to the U.S. Treasury under the Troubled Asset Relief Program for $1.1 billion.

The investment bank said it believes the value of the warrants, as determined by the Treasury, was fair.

As part of the Treasury's $10 billion preferred stock investment in the bank last fall, the government received warrants that would have enabled it to buy Goldman shares at a set price in 10 years.

Goldman has already paid back the $10 billion loan, as well as paying $318 million in preferred dividends on the investment.

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Gary North for

Our children are not going to pay off the suckers – us – who naïvely thought they could pass on the Old Maid of government debt to them.

Here is economic reality. Taxpayers and Treasury debt buyers are paying for all of the benefits that voters enjoy as recipients of government-funded programs. Voters are not transferring these costs to future generations. Costs are inescapably the same as benefits. If we receive present benefits, someone pays for these benefits in the present. The only questions are these: Who Wins? Who loses? How soon?

Economists despair about their inability to get across this simple idea: we consume only present goods.

Economics students nod their heads in agreement with the professor. "Yes, yes; we know that." But they don't know it. As soon a

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A proposed plan to solve California’s budget crisis would reduce the state’s prison population by 27,000, it was reported Tuesday, as opposition to the new fiscal deal mounted.

The Los Angeles Times reported that the budget deal, announced by California Governor Arnold Schwarzenegger and bipartisan lawmakers on Monday, would involve the early release of thousands of inmates.

The Times said the reduction would be achieved through a combination of measures including allowing prisoners to finish their sentences on home detention and creating incentives for completion of drug rehabilitation plans.


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“Highly graduated taxation realizes most completely the supreme anger of democracy.   Creating a state of things in which one class imposes on another burdens which it is not asked to share, and impels the state into vast schemes of extravagance, under the belief that the whole costs will be thrown upon others.”  W.E.H. Lecky   “Here in the united States, we’ve seen failure of mass programs of redistribution and the financial crisis to which they give rise.  And yet many continue to defend and promote them.”  Robert A. Sirico   “Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced.  The consumers do that.” Ludwig Von Mises   “To enslave a people, give them money they did not earn.” James Cook   “What… can a government do to help the poor?  The only answer is the libertarian answer:  Get ot of the way.”  Murray N. Rothbard   “To assign to everybody his p

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First, we did a story about an Army Major who filed suit regarding his deployment to Afghanistan on the grounds that Obama was not America’s legitimate Commander-In Chief.

World Net Daily thought highly enough of this article to link to it on their front page.

Then we did an article pointing out the differences between a Birth Cerificate and a Certification Of Live Birth.


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“No Matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor.  The spending of the rich gives employment to the poor.  But the saving of the rich and their investment of these savings in the means of production, gives just as much employment, and in addition makes that employment constantly more productive and more highly paid, while it also constantly increases and cheapens the production of necessities and amenities for the masses.” Henry Hazlitt

“the State, by relieving idleness, improvidence, or misconduct from the punishment, and depriving abstinence and foresight of the reward, which have been provided for them by nature, may indeed destroy wealth, but most certainly will aggravate poverty.” Nassau Senior

“Socialism and interventionism.  Both have a common goal of subordinating the individual unc

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In a stunning victory for borrowers, a New Jersey court has dismissed a foreclosure action filed against the borrowers by Deutsche Bank Trust Company America as alleged trustee for a securitized mortgage loan trust after Deutsche Bank willfully, and despite the entry of three (3) separate court orders, refused to produce documents demanded by the borrowers which included documents setting forth the identity of the true owner and holder of the Note and mortgage, the complete chain of title to ownership of the note and mortgage, payment application histories, and documents as to the securitized mortgage loan trust. The Court had given Deutsche Bank multiple opportunities and extensions of time to produce the documents, but Deutsche Bank continually refused to produce any of the documents requested, resulting in the dismissal of Deutsche Bank’s foreclosure action. The Court also ruled that Deutsche Bank is not permitted to re-file any foreclosure action until it is prep

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A new financial crisis will develop from the failure to effectively regulate derivatives and the extra global liquidity from stimulus spending, Templeton Asset Management's Mark Mobius said.

"Political pressure from investment banks and all the people that make money in derivatives” will prevent adequate regulation, said Mobius, who oversees $25 billion as executive chairman of Templeton in Singapore. “Definitely we’re going to have another crisis coming down,” he said in a phone interview from Istanbul on July 13.


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Money from outdoor and indoor plots inevitably flows into local coffers. Marijuana increases residents' retail buying power by about $58 million countywide, according to a Mendocino County report. The county ranks 48th out of 58 counties in median income but, by counting pot proceeds, could jump as high as 18th.