The unemployment rate in Spain has risen to 27.2 percent, according to the National Statistics Institute in Madrid. This is compared with 26.02 percent in the previous three months. For those under twenty five years of age the rate is an incredible 57.2 percent. The economic collapse in Spain is now quickly approaching the dire […]
Archives for April 2013
U.S. government wasting $890,000 this year on empty bank accounts
This week, a budget watchdog group discovered that the federal government is spending $890,000 on nothing. In a report published Wednesday, Citizens Against Government Waste (CAGW) found that the government is wasting the large sum of money on bank accounts that have zero dollars in them. According to the organization, there are 13,712 such accounts. […]
Paul Krugman and his cult of debt that is mainstream Keynesian economics
Charles Hugh Smith of oftwominds.com has the Keynesian paradigm nailed. He calls it the “Keynesian Cargo Cult’s neofeudal financialization debtocracy.” For Paul Krugman and his fellow Keynesians the problem with the economy is always a lack of “aggregate demand” and the cure for that is always more debt and spending. It doesn’t matter what kind […]
Is this the Great Gold Panic of 2013?
The news of the U.S. mint running out of one-tenth ounce Gold American Eagles has led some to believe that there is panic buying in the gold market, as demand for physical gold bullion has been surging relentlessly since the recent decline in prices. But looking at the fundamentals of the economy, this surge in […]
Canadians paid 42.7% of income in taxes, tax bill up 1,787% since 1961
If you thought Americans were paying too much in taxes, consider this new report from Fraser Institute that shows Canadians are spending more money on taxes than the basic necessities, such as food, clothing and shelter combined. The independent, non-partisan think-tank published the findings from its Canadian Consumer Tax Index and discovered average families earned […]