In 2011, all government in the US spent 41.4% of GDP. To paraphrase Indigo Montoya of Princess Bride: You keep using that word, "austerity." I do not think it means what you think it means. Defining austerity. My 1976 Webster's Unabridged Dictionary includes this definition of austerity: "lack of luxuries: enforced or extreme economy." ... MORE
A vindication of our free market system. Elections Sunday in France and Greece prove once and for all that the European Union is headed off the cliff, and its voters don’t care. In the short term, that’s going to mean some heartburn in US markets and global financial centers. No one likes to watch a major portion of the world’s industrialized economies, commit ... MORE
When demise becomes "a mat ter of psychology." I recently wrote an article that addresses the subject of sociopaths and how they insinuate themselves into society. Although the subject doesn't speak directly to what stock you should buy or sell to increase your wealth, I think it's critical to success in the markets. It goes a long way ... MORE
No one can be trusted to manage the economy. I’m suspicious of superstitions, like astrology or the belief that “green jobs will fix the environment and the economy.” I understand the appeal of such beliefs. People crave simple answers and want to believe that some higher power determines our fates. The most socially destructive superstition of ... MORE
Only system know to increase both growth and freedom. At the height of the financial crisis in late 2008 and early 2009, a wave of articles declared the end of capitalism. A half-dozen reporters writing about the issue called Allan Meltzer, who since 1957 has been teaching about capitalism at Carnegie Mellon University in Pittsburgh. ... MORE
Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenue will ... MORE
Peeping Toms and pyromaniacs to also cash in. Greek disability groups expressed anger Monday at a government decision to expand a list of state-recognized disability categories to include pedophiles, exhibitionists and kleptomaniacs. The National Confederation of Disabled People called the action "incomprehensible," and said pedophiles are now ... MORE
Gullible Americans keep believing the political lies. National Transportation Safety Board Chairwoman Deborah Hersman has called for states to mandate a total ban on cellphone usage while driving. She has also encouraged electronics manufacturers — via recommendations to the CTIA-The Wireless Association and the Consumer Electronics Association .. MORE
Some politicians claim that politicians create jobs. Senate Majority Leader Harry Reid says, "My job is to create jobs." What hubris! Government has no money of its own. All it does is take from some people and give to others. That may create some jobs, but only by leaving less money in the private sector for job creation. Actually, it's worse than that. Since government ... MORE
What does government have in common with a porn actress? I see Andrea True died earlier this month. The late disco diva enjoyed a brief moment of global celebrity in 1976 with her ubiquitous glitterball favorite: More More More. In honor of Andrea’s passing, I have asked my congressman to propose the adoption of this song as the U.S. ... MORE
Carter didn't substitute his priorities for the nation's. The good news is that growing economies can afford a great deal of government, if not quite as much as the Europeans and the U.S. have promised themselves. The bad news is that "policy error" are the saddest words in the language. These words, starting in the 1960s, came to dominate serious post mortems ... MORE
30 reasons for major concern. The United States is drowning in a sea of red ink from coast to coast and most Americans have absolutely no idea what is about to happen. Hopefully you have started to prepare for the coming U.S. financial crisis. If not, hopefully this article will be a wake up call for you. Right now, governments all over Europe are on the verge of ... MORE
Smoking-gun document ties policy to housing crisis. President Obama says the Occupy Wall Street protests show a "broad-based frustration" among Americans with the financial sector, which continues to kick against regulatory reforms three years after the financial crisis. "You're seeing some of the same folks who acted irresponsibly trying to fight efforts to crack ... MORE
Politicians fiddle while Rome burns. The United States is in for another credit downgrade by year’s end if Congress fails to agree on a long-term plan to tame the nation’s $14.8 trillion debt, Merrill Lynch warned. In a research note, the Bank of America unit predicts that either Moody’s or Fitch will move to downgrade the U.S. AAA rating. Standard & Poor’s cut ... MORE