Intended or not, the Fed’s destruction of the dollar’s value has pushed prices of commodities that Americans need — such as instance food, cotton and oil — higher.
Sphere: Related ContentThe big news this week in terms of ginormous government transfer payments is, as usual, out of the Fed, as it embarks on an equally ambitious and ill-fated mission to buy $600 billion of US Treasury debt. Unsurprisingly, it’s not the only immense transfer of wealth taking place between governmental bodies. As spotlighted by Meredith Whitney, CEO of the Meredith Whitney Advisory Group, the feds are continuing to subtly bailout state governments at record levels and in an ongoing and unsustainable fashion which she describes in a recent WSJ opinion piece.
Sphere: Related ContentThe world’s leading countries should agree a new currency pact to help rebalance the global economy, a leading association of financial institutions has urged.
The Institute of International Finance, which represents more than 420 of the world’s leading banks and finance houses, warned on Monday that a lack of such co-ordinated rebalancing could lead to more protectionism. Charles Dallara, IIF managing director, said: “A core group of the world’s leading economies need to come together and hammer out an understanding.”
Sphere: Related ContentAmid mounting frustration over taxation and banking problems, small but growing numbers of overseas Americans are taking the weighty step of renouncing their citizenship.
“What we have seen is a substantial change in mentality among the overseas community in the past two years,” said Jackie Bugnion, director of American Citizens Abroad, an advocacy group based in Geneva. “Before, no one would dare mention to other Americans that they were even thinking of renouncing their U.S. nationality. Now, it is an openly discussed issue.”
Sphere: Related ContentDon’t worry, it’s for your own good.
Spokane County residents may want to avoid backyard sunbathing in April.
That’s when county Assessor Ralph Baker wants to take a series of high-resolution, low-altitude aerial photographs that promise to make goose pimples visible around the globe.
At least, the photos would show new swimming pools, cabanas, decks and workshops.
Sphere: Related ContentThe economic elite have robbed us all. The amount of suffering in the United States of America is literally a crime against humanity.
This letter was sent to us, anonymously, regarding the Nash County Commissioners meeting on February 1, 2010.
Robert,
At this morning’s meeting, commissioners again sat silently until a vote was taken on just how to finance the new school construction. They then stuck it to the voters.
The usual procedure, per the N.C. Constitution, for floating a bond, is to list it on the next ballot for voter approval. The idea of getting voter approval to increase our indebtedness started to backfire as governments attempted to take us deeper and deeper into debt and the voters began to reject some of these bonds.
So, our legislature devised a bypass around the people by passing a law whereby some of the public buildings can be listed as collateral for the bonds instead of listing the good faith and credit of the people. By doing this, they can float a bond without ever asking the voters for approval.
At this mornings commissioner meeting, they once again rejected a bond referendum using the excuse of the urgency of the moment. The vote was 4-3 with the four tax and spend democrats voting to take the short-cut. When given an opportunity by Commissioner Wayne Outlaw to assure the voters that a tax increase would not be necessary, the same four democrats again declined to add such a statement to the financing resolution.
Three of these commissioners are up for re-election even though two of them are insulated and protected by racial gerrymandering.
It’s great to know that our county commissioners have no problem saddling future generations with debt.
Sphere: Related ContentThe program, formally known as the American Recovery and Reinvestment Act of 2009, attempts to stimulate the country’s economy by increasing federal spending and cutting taxes, at a total cost to the government of $862 billion.
The above paragraph in the article mentioned here shows the typical government line of thinking.
Government gets it’s revenue through taxing us. If government thinks it needs to spend more to “help” us out, how can it truly cut taxes? It can’t. You’ll be paying for this, as well as generations to come.
Sphere: Related ContentIt never ceases to amaze me that people will actually cheer not only the expansion of government, but the seizure of income, and the mindless tax the rich scams. Oregonians are doing just that with their ballot initiatives 66 and 67 to tax heavily any individual making over $125,000 and businesses a minimum of $30,000 per year. The tax measures were passed in the legislature late last year and so heavily opposed that a referendum was called for yesterday in an attempt to overturn these excessive tax measures. Sadly, both measures were upheld in the vote yesterday.
In an economic recession when not only government revenues are down but individual income is diminished, we have individuals who follow the self-destructive French Revolution tactic of attacking the rich. Just as in the French Revolution, the gallows become hungry when the so-called rich become short in supply.
I suppose I shouldn’t be too hard on the Oregonians because just as the people here in North Carolina, they heard the siren song or “for the children” and the even more alluring call of “for the schools.” These two hypnotizing melodies seem to make even the most logical and fiscally responsible individual blather nonsensically about pie in the sky pipe dreams and pull out their wallet to give up even more of their hard earned income.
The sad part of the entire Oregon pyramid scheme is that ultimately the cost will be borne by the population at large through price increases, the loss of jobs, and a decline in the general economy. Why do Americans have such backward thinking when it comes to government and taxes. Perhaps we should look to the example of some other nations who reduced their taxes during this recession.
Taking more money out of the general economy and giving it to politicians has never made things better.
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