Tag Archives: Money/Economy/Taxes
S&P finally downgrades US government
Robert Murphy’s take here.
Also, Peter Schiff:
Rep. Jesse Jackson Jr. (D-IL) Blames The iPad For Killing Jobs
Somebody, please make it stop. The madness. I want to run and hide. This misguided speech represents the intellectual capacity with which the government, possessor of the most powerful military force in human history, will thrash about once it begins to starve for money.
A Big Move Away from the Dollar by Brazil, Russia, India, China and South Africa
Brazil, Russia, India, China and South Africa – the BRICS group of fastest growing economies – Thursday signed an agreement to use their own currencies instead of the predominant US dollar in issuing credit or grants to each other.
The agreement, the first-of-its-kind, was signed at the 3rd BRICS summit here attended by Indian Prime Minister Manmohan Singh, China’s Hu Jintao, Brazil’s Dilma Rousseff, Russia’s Dmitry Medvedev and South Africa’s Jacob Zuma.
“Our designated banks have signed a framework agreement on financial cooperation which envisages grant of credit in local currencies and cooperation in capital markets and other financial services,” Manmohan Singh told reporters at a news conference with other BRICS leaders.
But the agreement is confined to credit and not trade. BRICS economies hold 40 percent of the world’s currency reserves, the majority of which is still in US dollars.
(Read more from politicalmetals.com)
The Philosophical Hypocrisy of a Fat Tax
Here’s a letter to the Los Angeles Times:
You advocate a “fat tax” on grounds that it’ll discourage people from acting in ways that make them unhealthy (“Should there be a ‘fat tax’?” April 11).
Overlook here such a tax’s merits or demerits. It’s curious that you accept without question the proposition that raising taxes on ‘unhealthy-lifestyle’ activities will significantly turn people away from unhealthy-lifestyle activities, while (judging from your editorials over the years) you reject without question the proposition that raising taxes on income-earning activities will significantly turn people away from income-earning activities.
Sincerely,
Donald J. Boudreaux
In the mid-1990s I was informed by a professor of philosophy – tenured at a major university – that anyone who believes that even a marginal income-tax rate as high as 94 percent has a significant negative effect on people’s willingness to work to earn taxable income is “brainwashed.” (Read more from cafehayek.com)
Marc Faber – Peter Schiff Radio Show
They open with a discussion of the split among the people predicting massive economic crisis between inflationist and deflationist camps.
Congress’s Childish Budget Games
Our politicians are pathetic. They have neither the courage nor integrity nor intelligence nor maturity to be responsible.
The good news is that this ridiculous charade will come crashing to an end when the dollar collapses.
Peter Schiff was right, AGAIN
part 1:
part 2:
Government shutdown averted, fiscal crisis assured!
Fleeing U.S. citizenship
The story took most everyone by surprise. Ten mega-rich investors from the US and Canada had contacted Icelandic authorities and were pledging to invest up to $15bn into our cash-strapped economy. All they wanted was a teeny-weeny favour in return: Icelandic citizenship for themselves and their children. (Read more from guardian.co.uk)
Private Airlines, TSA
China’s Central Planning and more BS Economics
Peter Schiff on College Tuition
1) How government drives up the cost of tuition:
2) How the Fed rescued the student loan market and ensured tuition costs continued to increase in 2009 (start at 4:15):
Businesses flee 42% coorporate tax for 14% coorporate tax.
* 60 minutes special focuses on how heroic government might get their hands on the money.
WTF!? Lybian Rebels form a central bank.
Here’s one for the Guinness Book of Records. The Libyan rebels in Benghazi said they have created a new national oil company to replace the corporation controlled by leader Muammar Qaddafi whose assets were frozen by the United Nations Security Council and have formed a central bank!
. . . .
This continues to look like a major oil and money play, with the true disaffected rebels being used as puppets and cover, as the oil/money transfer takes place.. (Read more from economicpolicyjournal.com)