The Allure of Respectable Welfare
• http://lewrockwell.com/Ludwig von Mises noted that by calling their program "welfare" the economic interventionists slanted the debate in their favor, for who could oppose such a thing?
Contents Pages by Subject
Government Debt & Financing
Audit: Fed gave $16 trillion in emergency loans
• http://www.rawstory.com/The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government's first-ever audit of the central bank.
The 'Cut, Cap, and Balance' Fraud
• lewrockwell.comMr. Speaker, I rise to speak against HR 2560, the Cut, Cap, and Balance Act. This bill only serves to sanction the status quo by putting forth a $1 trillion budget deficit and authorizing a $2.4 trillion increase in the debt limit.
Repudiate the Debt, Which Never Should Have Been Extended In The First Place"
• ZeroHedge.comEconomics professor Steve Keen is also calling for a debt jubilee, stating:
U.S. debt cut to AA+ from AAA
• The Political CommentatorEgan-Jones cuts the U.S. debt from AAA to AA+ citing factors that move beyond the current political debate over how the debt ceiling will ultimately be raised! Who is Egan-Jones and why should anyone care about what its analysts think? Aren't
Cut, Cap and Balance: A Chicken Tale
• http://lewrockwell.com/It is hilarious to observe the most recent preening and fluffing behavior of the national bird in Washington. No, it’s not the bald eagle, or the alleged choice of Ben Franklin, the survival-oriented wild turkey.
James Howard Kunstler: The Amazing Dissolving Nation
• Kunstler.comGoing broke fast is a very compelling problem. For ordinary people it tends to induce chicken-with-no-head syndrome - a mad burst of pointless locomotion ending in sudden collapse.
The Cowardly Congress and the Tyrannical President
• batr.orgOne way to look at the artificial conflict over the debt ceiling theater is in terms of Gypsy Rose Lee doing the striptease fan dance. The beltway burlesque script is designed never to solve real problems.
Presidential Power vs. Spin: Is the Great Betrayal Coming?
• EconomicPolicyJournal.comWhere the Republicans will be able to pose as debt fighters, but where the President will be able to increase the debt.
Costs of war coming home: It is not free for you and me!
• Martin Schaefer, Santa Maria TimesAccording to nationalpriorities.org, for 2012 Santa Barbara County taxpayers will give $811.8 million toward the Department of Defense budget, not counting the wars in Iraq and Afghanistan. For those two wars, county taxpayers have given an additiona
Today on LewRockwell.com - Friday July 15th, 2011
• lewrockwell.comIt Ain't Money - If they can't print it. Article by Peter Schiff. / The Phony Gold Standard - Beware it, says Robert Blumen. / How to Make Your Old Car Look New - Eric Peters on the little things.
Debt Downgrades: Here It Comes
• Market-ticker.orgThis is not about the "ceiling." It is about fiscal sustainability.
Spin: 'Clever' McConnell Plan Could Break Debt Impasse
• CNBC.comThe Senate Minority Leader on Tuesday proposed a complicated legislative maneuver whose ultimate effect would allow the president to bypass a deeply divided Congress and raise the debt ceiling.
Ron Paul: “America’s AAA Rating Not Worth Saving” Because “We Are Insolvent”
• http://www.prisonplanet.com/When asked if the American AAA rating is worth saving, his reply: “probably not. I think if you had a market evaluation on this issue, it should have marked down a long time ago.”
California Runs Out Of Money: Moody's Threatens To Go Nuclear on Muni Market
• ZeroHedge.comThe excuse: the potential upcoming government shutdown, which would lock California out of the muni market. Surely the fact that it already has little to no cash left was not a part of the equation.
Senate Republicans Considering Back-Door Debt Ceiling Increase
• businessinsider.comOnly one-third-plus-one votes in the both houses would be needed to raise the debt limit under the plan.
Congress wants automatic wage deductions to pay down the debt
• http://www.sovereignman.com/On July 6th, just two days ago, at least a dozen busybody Congressmen sponsored the introduction of HR 2411, the “Reduce America’s Debt Now Act of 2011.”
The “War On Terror” Is A $6 Trillion Racket, Exceeding The Total Cost Of World War II
• David DeGraw, Global ResearchWhen Obama launched his re-election propaganda campaign to trick the American public into thinking that he intends to end the Af-Pak War, he said that the “War on Terror” has cost $1 trillion over the past decade. While that is a staggering amount of
Was the Space Shuttle a Mistake?
• John M. Logsdon via TechnologyReview.comThe program's benefits weren't worth the cost—and now the U.S. is in jeopardy of repeating the same mistake, says a leading space policy expert.
Host:
Ernest Hancock
Dave - Escape Tickets, Courts, & the IRS / Drew Phillips - Dime Cards / Sheriff Mack - Oath Keepers
Program Date:Dave - "Escape Harassment" is a Volunteer Group of Researchers and Educators. / Drew Phillips - Dime Cards at Porcfest / whatisthiscoinworth.info / Sheriff Richard Mack - Grant County, Oregon: The Solution To Tyranny
Is a U.S. Default Inevitable?
• http://lewrockwell.com/As President Bush prepared to invade Iraq in September 2002, the head of his economic policy council, Lawrence Lindsey publicly estimated such a war could cost $100 billion to $200 billion.
Get Your Hands on the Government’s Playbook
• http://lewrockwell.com/In this bubblicious world of trillion dollar deficits, sovereign bailouts, and fiscal stimulus measures of historical proportions, there is one economist whose theories and underlying philosophy underpin the foundation of modern macroeconomics.
Savings, Not Spending Causes Economic Growth
Howard BlitzIf the Great Depression teaches us anything, it is that government spending does not create wealth and does not create economic growth. Both Presidents Herbert Hoover and Franklin Roosevelt followed the recommendation of John Maynard Keynes, a very
Price of U.S. wars: $4.4 trillion?
• TIM MAK , PoliticoThe final bill for U.S. military involvement in Iraq, Afghanistan and Pakistan could be as much as $4.4 trillion, according to a comprehensive report Tuesday. In the 10 years since American troops were sent into Afghanistan, the federal government h
U.S. State Department asks for $6.2 billion budget for Iraq
• RawStory.comThe US ambassador in Baghdad said on Saturday that the State Department has asked for a $6.2 billion budget for Iraq in 2012, underscoring that its oil and gas reserves were critical for the world's future energy needs.
The Coming Destruction of U.S. Pensions
• http://lewrockwell.com/We know the Federal and State governments are in serious fiscal trouble. Having overspent and over borrowed, they are now faced with the real prospect of having to reduce jobs, spending programs and retirement related benefits.
Geithner to Consider Leaving After Debt Debate
• http://www.bloomberg.com/Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress...
Where Will You Go When the Sovereign Debt Volcano Blows?
• http://dailybell.ch/Today we find the United States and most of Europe in a similar situation. We risk an eruption and collapse of the mountain of unsustainable sovereign debt built up over the last two decades.
Scholar cautions Dems on constitutional argument against debt limit
• http://www.rawstory.com/Constitutional scholar Jonathan Turley spoke to Current TV’s liberal host Keith Olbermann last night and revealed that top Democrats had approached him for advice on the argument that the country’s constitutional debt limit...
Federal Study of Power Grid Might Disrupt The Nation's Clocks
• Rebecca Boyle via PopSci.comSoon, when you sleep through your Monday morning alarm, it may be Uncle Sam’s fault. Federal officials are considering an experiment on the nation’s electrical grid that could interrupt the way your appliances tell time.
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