What matters is income mobility, not income inequality. I hate to be the bearer of good news just as the Occupy Wall Street movement is gathering steam, but protesters can stop worrying about rising inequality and go home. New evidence suggests that the super-rich got hit by the recession much harder than the rest of the 99 percent. This doesn’t mean that they ... MORE Shikha Dalmia: Don't Mind The Gap
What matters is income mobility, not income inequality. I hate to be the bearer of good news just as the Occupy Wall Street movement is gathering steam, but protesters can stop worrying about rising inequality and go home. New evidence suggests that the super-rich got hit by the recession much harder than the rest of the 99 percent. This doesn’t mean that they ... MORE BLOOMBERG: More Tax Money Wasted On Green Energy
Another taxpayer-backed company goes bankrupt. Beacon Power Corp., an energy- storage company that received $43 million in backing from the U.S. program that supported failed solar-panel maker Solyndra LLC, filed for bankruptcy after struggling to raise private financing. The money-losing company, which makes flywheels that manage energy moving through ... MORESteve Chapman: Ron Paul's Unusual Path
Substance over style. No one in this year's race has spent more time running for president than Ron Paul, who before entering the Republican primaries in 2008 and 2012 was the 1988 nominee of the Libertarian Party. And no one runs for president quite the way Paul does. His town hall meeting is in an auditorium at the Figge Art Museum, which an audience of some ... MORECash-Flooded Banks To Impose Fees On Depositors
Interest-earning days will soon be forgotten. This story did not break on some freakishly obscene Halloween website, but last week, CNBC ran the story that banks are now flooded with cash and that depositors are being charged fees just to slow the flood of money into the bank (article here). This means that negative interest rates appear to have arrived. Savers will ... MORE
Spooky: U.S. Debt To Surpass GDP On Halloween
from the Daily Caller. As children across America costume themselves as ghouls, ghosts, goblins and former North African dictators Monday night, they may have missed the most spine-chilling scare of the day. According to calculations based on the International Monetary Fund’s World Economic Outlook, on All Hallows’ Eve the United States’ total debt will surpass ... MOREREUTERS: Lawmakers Unfazed By Downgrade Risk
Congress fiddles while America's economy burns. A growing number of lawmakers do not think another downgrade of the country's AAA rating will harm America's economy, raising questions about how much pressure Congress is under to fix the intractable budget deficit. Analysts warn, however, that signs of complacency on Capitol Hill threaten efforts to cure America's ... MOREVIDEO: Ayn Rand - The Virtue Of Selfishness
Thinking about the virtue of acting in one's own rational self-interest.
John Stossel: School Competition Rescues Kids
Government's monopoly over k-12 education has failed. For years, American education from kindergarten through high school has been a virtual government monopoly. Conventional wisdom is that government must run the schools. But government monopolies don't do anything well. They fail because they have no real competition. Yet competition is what gives us ... MOREBREITBART: Chicago May Decriminalize Marijuana
Freeing up resources for more serious crimes. Chicago pot smokers may soon be able to light up without fear of jail time. Several Windy City councilmen said Thursday they plan to introduce a local law that would decriminalize possession of small amounts of marijuana in order to cut costs and free up police to handle more serious crimes. Chicago police ... MOREGALLUP Poll: Support For Gun Control Lowest In 50 Years
Another manifestation of widespread distrust of government. A record-low 26% of Americans favor a legal ban on the possession of handguns in the United States other than by police and other authorized people. When Gallup first asked Americans this question in 1959, 60% favored banning handguns. But since 1975, the majority of Americans have opposed ... MORE
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