Call Me Stormy

Finding righteous currents in turbulent times

Archive for the category “Economizing”

U.S. Suffocating in Debt

With the national debt rapidly approaching the unthinkable $20 trillion plateau (now $17-$18 trillion), how did we ever get to this point and how do we fix it? The Cato Institute’s Michael Tanner says spending on the big three entitlement programs–Social Security, Medicare and Medicaid–are most responsible for the massive debt. And now the onset of the Affordable Care Act, or Obamacare–has exacerbated the problem. So what’s the solution? In the following presentation of Prager University, Tanner tells us how to get out of get and preserve the programs.

U.S. Facing Currency Collapse

Money manager Peter Schiff warns that the United States is headed for a currency collapse. And the main culprit, he says, is the debt ceiling. “This phony crisis, it’s not about not raising the ceiling. That’s the solution,” says Schiff, CEO and founder of Schiff Gold and Euro Pacific Capital. “The crisis is continuously raising it.” Schiff lays out a gloomy scenario for the economy in an interview with Greg Hunter on the USA Watchdog Channel.

Debts Versus Deficits

Many Americans don’t understand the difference between the national debt and its deficit. But they do differ dramatically. Thing is, these two elements have vastly different outcomes for individuals and nations. Adriene Hill and Jacob Clifford give us some answers on the debt and deficit, and another concept called the debt ceiling, in this edition of Crash Course.

Why the Debt Doubles

“Present debt is no more than future taxes,” says Mario Villareal, professor of economics at George Mason University’s Institute for Humane Studies. That’s his prelude to the daunting question: Why does the debt double for every president and will eventually double twice in a single term? “A very sophisticated tool we economists use to think about how individuals make choices is very powerful: common sense,” Villareal says. “Politicians respond to incentives and when facing choices will do what is likely to advance their own objectives.” Villareal explains further in this edition of Learn Liberty.

Another Black Monday

Fox News Business Channel’s Stuart Varney reacts to Monday’s 1089-point collapse in early trading, the biggest-ever drop in the Dow Jones Industrial Average. The Dow recovered slightly, closing the day with a 588-point drop. A visibly excited Varney tells viewers, “I do believe the circuit breakers kick in if you hit 7 percent. We’re at 6.4 percent now, if we hit 7 percent the action closes down on the New York Stock Exchange.” The market eventually reached 6.62 percent, but rallied late, avoiding a shutdown.

U.S. On Greek Economic Path

With the United States spending millions more than it takes in, carelessly printing money to prop up its bond and stock markets and driving the nation’s debt to the point of no return, we are facing dire economic woes, says Doug Casey, wildly successful head of Casey Research. “The United States has been going downhill since the McKinley regime,” the bearish Casey says. “Technology has been getting better, but from a philosophical point of view it’s been declining since then. And in actual economic terms, in terms of what the average guy is able to do, we’ve been going downhill since the mid-’70s.” Casey explains further to Reason TV host Matt Welch, and offers some nuggets of optimism going forward.

Bastardizing Capitalism

The fall of the Soviet Union in the ’80s was a huge black mark for communism and capitalists rejoiced. But progressives still soured on capitalism, suggesting we needed something in between. Enter The Third Way. Consumer reporter John Stossel says that we in fact have a “third way” today, which he describes as capitalism smothered in government. Stossel explains the transformation and what he’s coined the bastardization of capitalism in this edition of Liberty Pen.

Recycling Stupidity

Recyling makes Americans feel good. But many–more specifically the environmentalist crazies–have gone one step farther. Not only do they recycle everything, but make an added effort to produce no trash, or very little of it. Call it the sustainability movement, or more precisely, green tyranny. In this edition of Liberty Pen, consumer reporter John Stossel examines the wisdom of recycling programs and their ramifications.

U.S. Facing Financial Calamity

Investment guru Peter Schiff says the financial problems plaguing Greece and Puerto Rico are eerily similar to ours here in the United States. “The reality is, we’re in worst shape than Puerto Rico,” Schiff tells Reason TV’s Matt Welch. “The debt to GDP there is only about 70 percent. Here’s it’s over 100 percent, and that’s just the tip of the iceberg. But the reason Puerto Rico has had to face the music, while we’re still dancing to it, in the United States, is because interest rates have risen in Puerto Rico and it’s the higher rates that create the problem. … The only reason we can pretend we’re solvent, is that interest rates here are at zero.”

Green Tyranny Kills Jobs

The tyrannical world of liberal environmentalism, in cahoots with the federal government, is working overtime to push its agenda on the American landscape. They’ve already tossed more than a few monkey wrenches into the Keystone Pipeline Project and are celebrating their success in shutting down Pebble Mine, the second-largest ore deposit of its kind (copper, gold, porphyry, molybdenum) in the world, in southwest Alaska’s Bristol Bay region. Consumer reporter John Stossel calls it green tyranny, and it’s killing thousands of jobs. He debates the issues with players on both sides in this edition of Liberty Pen.

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