The euro is falling. It is at the lowest exchange rate to the dollar in four years. http://GaryNorth.com/snip/961.htm Confidence in the euro is falling because it is becoming clear that the region’s commercial bankers have made the same sorts of bad decisions that American commercial bankers made after 2000. They loaned money to debtors in […]
On Saturday, May 8, an extraordinary event took place. United States Senator Bob Bennett, a 3-term Republican, failed to make the cut for his party’s primary. Not only was he not nominated to run, he did not make the cut to get nominated. He was a distant third. Two Tea Party candidates beat him. Bob […]
From time to time, someone asks me: “What would you do about the Federal deficit?” I have this amazing answer: “End it immediately. Then run a surplus until it is paid off 100% — exactly as I would do with my own budget.” Of course, this assumes that I was ever put in charge of […]
The politicians of Northern Europe buckled. The PIIGS chuckled. The Greeks played the Henry Paulson card magnificently. “If you don’t lend us enough money to meet interest payments, we’ll have to default. There will be a crisis. Woe, woe, woe.” The politicians pretended to play hardball for less than three weeks. Then they folded. Let […]
Beginning in late 2001, I began recommending that my readers buy gold. I have continued to make this recommendation every year since then. When I first made it, gold was selling for under $300 per ounce. Today, it is avoe $1,200 per ounce. I wonder what percentage of my readers have taken my advice and […]
The conference is a very efficient way to assimilate new information rapidly. It is not a substitute for reading. It is a way to find out what you ought to read next. A conference lets the organizer specify his target audience. Then he can design a program that lets members of this target group attend […]
Have you ever seen a documentary where the herd of zebras is at the river’s edge? The lions are behind them. The crocodiles are in front of them. What’s a wise zebra to do? Most of them wait. Then, without visible warning, they either run like mad or else plunge into the river. Sometimes the […]
The case for a secondary recession rests on several factors: a double-dip decline in the residential real estate market, the accelerating decline in the commercial real estate market, the unresolved losses in bank balance sheets, the narrow focus of the profitability (earnings), which has been limited to bailed-out banks, and the threat of rising long-term […]
On April 13, the Rasmussen polling organization released the latest poll on political opinion. Voters were asked who they would vote for President. Result: President Obama, 42%; Ron Paul, 41%. No other Republican was in double-digits.
This was a bombshell. The Republican Establishment had previously dismissed his win at C-PAC (Conservative Political Action Conference) as manipulated. This was not a scientific poll, they said. But the Rasmussen poll was scientific. Ron Paul is neck-and-neck with Obama.
The National Bureau of Economic Research (NBER) is a private, nonprofit organization. Begun in 1920, it has focused on collecting and analyzing economic data on the U.S. economy. It is nonpartisan. Sixteen of the past 31 American economists who have received the Nobel Prize have been members of the NBER. It is noted by the precision of its research and the uniquely boring style of its publications. As young assistant professors learn early in their careers, nobody ever gets fired for quoting an NBER publication . . . or promoted.
The NBER somehow is universally regarded as having the final say about when a recession begins and ends in the United Stares. This is not to say that other organizations slavishly adhere to the NBER’s assessments. But, as far as textbook accounts of when a recession begins and ends, they conform to the NBER’s assessments.
“If you are in the hip pocket of any political party, prepare to be sat on.” – Gary North
Political victory in the United States is best defined as follows:
Getting your political agenda enacted into law, enforced by the Executive branch, and upheld by the courts.
“Freedom of the press is a guaranteed only to those who own one.” — A. J. Liebling
“People everywhere confuse what they read in newspapers with news.” – A. J. Liebling
Liebling had it right. He died in 1963. He would have enjoyed what has taken place in journalism since the advent of the World Wide Web’s Navigator browser in late 1994. The Web began to take off in 1995. I started my first site in 1996.
Anyone with a Web connection can set up a blog for free on Blogger or WordPress. He can then move on to a separately controlled, hosted Web site for a few dollars a month.
If he is really lucky, he can get a President impeached. Matt Drudge did.
If you are really good at what you do, you have a problem. Some of your peers are gunning for you — not to beat you by outperforming you, but by taking you down or out. To understand why, you would be wise to know the story of Jaime Escalante.
Jaime [HIGHmay] Escalante died of cancer on March 30. If you ever saw the HBO movie, “Stand and Deliver,” you know who he was. If you have not seen it, you probably don’t know.
He was a mathematics teacher in a Los Angeles high school from 1974 to 1991. The school was Garfield High. It had nothing going for it in 1974, either athletically or academically. It was in East Los Angeles, in what was functionally an Hispanic barrio.
In fiscal 2010, the Federal debt will increase by an estimated $1.5 trillion, give or take $100 billion.
Have you estimated your share yet? Probably not.
Divide $1.5 trillion by 300 million Americans. The figure is $5,000.
Every American resident, from oldsters to infants, just got hit with an extra $5,000 tab. This is on top of what he already owes. What does he already owe? Something in the range of $300,000: a $90 trillion total debt divided by 300 million.
President Obama got his training with ACORN. Where the ACORN falls, so grows the tree.
ACORN has fallen.
ACORN got caught by a pair of creative actors, both conservatives. They went to ACORN posing as a pimp and his woman. How could they get government aid? ACORN had suggestions. They videotaped the exchange. Then they took a modified video — yes, faked — to Andrew Breitbart, the Web site master. The fake was this: in the video, the young man appears in a pimp’s outfit. In fact, he did not wear it in the room. This is being made into a big deal by the liberal media. “Why, it’s all a fake!” Look, the whole stunt was fake. What was not fake was the response from ACORN’s employees: the offer to help them get the money and break the law.
To understand what is going to happen to America’s health care delivery system, we must first understand what has happened to Detroit.
Detroit is dying. Yes, I know that there are lots of books on “The Death of. . . .” That word sells books. But Detroit really is dying. It is the first metropolis in the United States to be facing extinction. We have never seen anything like this in American history. It is happening under our noses, but the media refuse to discuss it. To do so would be politically incorrect.
www.GaryNorth.com The gold standard of Byzantium lasted over 1,000 years (325 to 1453). It was a product of Christian civilization. The modern gold standard was a was a product of 19th-century European civilization: part Enlightenment humanism, part Christian, and part Darwinism after 1860). Christianity’s presuppositions 1. God as the source of all law2. Ownership as […]
Maybe you have heard about the psychologist employed by the Seattle public school system who sent out a memo to all teachers, warning them of the negative effects of teaching students about Thanksgiving.