Category Archives: Business & Economy

Federal Shortfall Equals $670K Per Household

Newly published data from the U.S. Treasury shows that the federal government has amassed $84.3 trillion in debts, liabilities, and unfunded Social Security and Medicare obligations. This amounts to $670,000 for every household in the U.S., a fiscal burden that equals 93% of the nation’s private wealth, including the combined value of every American’s assets in real estate, corporate stocks, small businesses, bonds, savings accounts, cash, and personal goods like automobiles and furniture.

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Fear Not the Robots – Jobs Aren’t Scarce

Economics begins with the proposition that people, individually and collectively, are not able to command sufficient productive resources to satisfy unlimited consumption desires. In economics, this is called the “scarcity proposition.” The flip-side of the scarcity proposition, one that economists and others usually ignore, is that limitless consumption desires, relative to productive resources, means the number of tasks for people to do is also limitless. This means, jobs aren’t scarce! And, the introduction of robots simply increases the size of the community’s economic pie.

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Auto Bubble Burst Begins As Subprime Delinquencies Soar To 2009 Levels

Record auto sales have been propped up by low interest rates, a perpetual loosening of auto lending standards with terms being stretched to the max and a wave of leases, all of which have allowed the American consumer to trade up to more expensive vehicles while maintaining low monthly payments. With rates recently on the rise and a flood of lease returns driving down used cars prices the tailwinds that have been propelling auto sales to record highs over the past several months look set to change course.

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States are Moving to Abolish Federal Fiat Currency

Spearheaded by legislative efforts in Utah, Texas, and Oklahoma, a substantial number of states have undertaken efforts to reinstitute gold and silver as money. Numerous states are increasingly concerned about the nation’s Fed-based fiat monetary system, which debases the dollar, enables protracted, yawning deficit spending and trade deficits, and runs up huge, unpayable debts. With Utah, Texas, and Oklahoma blazing a trail back to constitutional money, states such as Louisiana, Arizona, South Carolina, and Kansas have been inspired to once again make gold and silver legal tender with which to conduct commerce in their jurisdictions.

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Each “Saved” Job Costs Consumers Half a Mil

The popularity of protectionist trade policy is growing and is being actively promoted by President Trump. The appeal is clear and understandable: protectionism does save and protect some American jobs in protected industries, and those jobs are easily visible, identifiable, and measurable. But the one group of Americans we never hear about from Trump when he discusses international trade are the most important group of Americans – the American consumers who are the group that have the most to gain from international trade and the group that has the most to lose from trade barriers.

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US Government Caught Massively Fabricating Student Loan Default Data

The US government, either on purpose or due to honest miscalculation, has been fabricating student loan default data, making it appear far lower than it was. The Education Department released a memo saying that it had overstated student loan repayment rates at most colleges and trade schools and provided updated numbers. A spokeswoman for the Education Department said that the problem resulted from a “technical programming error.” How bad was the data fabrication? When The Wall Street Journal analyzed the new numbers, the data revealed that the Department previously had inflated the repayment rates for 99.8% of all colleges and trade schools in the country. In other words, virtually every single number was made to appear better than it was.

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