Archive for the ‘financial crisis’ Category
December 22nd, 2011 | 
Author: Debt-Free United States Notes Were Once Issued Under JFK And …
theeconomiccollapseblog.com12/19/11
Our current debt-based monetary system was devised by greedy bankers that wanted to make huge profits by creating money out of thin air and lending it to the U.S. government at interest. Sadly, the vast majority of the …
The Corporate Cash Myth | Euro Pacific Capital
www.europac.net12/21/11
The death blow to US corporations could come when US interest rates rise to historically normal levels. A four-percentage-point rise in the interest rates paid on debt by US corporations would cost them nearly $300 billion per …
If you think that the US is in a terrible state financially, you’re right, because the US can’t pay the interest on its debts which is why those debts are getting bigger every second of every day.
But take a look at this slide-show and most likely be amazed.
Of the twenty countries listed, America is number twenty meaning that there are nineteen countries who owe much more of their GDP that it does.
And please note how the socialist countries are doing and perhaps cringe, knowing that this is the direction in which Obama would like to lead America.
Posted in 
The Year in Government Waste: Bridges to Nowhere, Pancakes for …
reason.com12/21/11
A million dollars is nothing nowadays. Just ask the Pentagon, which spent $20 billion a year on air conditioning in Iraq and Afghanistan over the last.
Commonsense & Wonder: Government Waste
A highly incomplete, but still infuriating, list of government waste in 2011. Some examples: Republican and Democratic Party conventions: $17.7 million (each); A mango-production program for Pakistani farmers that was …
Oklahoma Sen. Tom Coburn released his annual “Wastebook” yesterday, December 20, 2011
Highlights In The Wastebook Include
$10 million for a remake of "Sesame Street" for Pakistan.
$764,825 to examine how college students use mobile devices for social networking.
$550,000 was spent for a documentary about how rock music contributed to the collapse of the Soviet Union.
$400,000 for the state’s agriculture department to study how different colors on shade cloths affect vegetable growth.
$113,000 for a video game preservation center.
$765,000 to subsidize "pancakes for yuppies" in Washington.
$48,700 for a festival promoting Hawaii’s chocolate industry.
In his report, Coburn writes that while some of the items listed in the book may have merit, they are not national priorities, and shouldn’t be undertaken when the country can’t deal with a massive and growing deficit.
“Instead of cutting wasteful spending, nearly $2.5 billion was added each day in 2011 to our national debt, which now exceeds $15 trillion”.
And added that with a 9% approval rating,
“Perhaps there was no bigger waste of taxpayer’s money in 2011 than Congress itself”.
Dr. No
Coburn, a Republican who is known around Washington as “Dr. No” for his opposition to excess spending, said in a press release Tuesday that his “Wastebook 2011″ details,
“The most egregious ways your taxpayer dollars were wasted”
