Gary North calls it the “The Triumvirate of Modern Warfare.” It’s the three political pillars of the modern warfare state, which also happens to be the foundation of the modern welfare state. In order to fund the warfare state there must be a high progressive income tax, a central bank (the Federal Reserve), and absence […]
Infographic: FDIC guarantee and dollar safety a total illusion
As the below infographic makes clear, if there was ever a serious banking crisis and a run on the banks the FDIC could never cover all the deposits. This means the treasury would have to cover the deposits with the general fund (unlikely) or the Federal Reserve would simply have to print the money.
Federal Reserve Chairman isn’t concerned about inflation risks
Fed Chairman Ben Bernanke has told global policy makers that he sees no risk of inflation becoming a problem in the United States. “The Fed’s preferred inflation measure is around 1.3 percent” This is problematic because the numbers used to measure the inflation rate do not accurately represent the true rate of inflation. Continue reading […]
Social Security Disability Insurance is discouraging people from working
There are currently 9 million former workers enrolled in the federal Social Security Disability Insurance (SSDI) program and 2.5 million of them are in their 20s, 30s and 40s. This is part of the reason why the unemployment rate has gone down – less people are participating in the labor force and are filing for […]
Where is the rampant inflation economists have been predicting?
It’s a mystery. The Federal Reserve has engaged in unprecedented monetary stimulus in the past five years, yet the Consumer Price Index (CPI) shows flat inflation or even falling prices in some cases. New York Times columnist Paul Krugman even says that this lack of inflation discredits Austrian economists who said we would eventually have […]