Day: January 4, 2011

Niall Ferguson: Empires On The Edge Of Chaos

Question: What creates debt? Answer: Credit. What does a person or organization pay on money that has been borrowed from someone else? Answer: Interest. In the past when our government needed money, they took out loans from other governments to help them pay for wars, but there was a limit to the amounts they could borrow and spend. Then along came The Federal Reserve Mafia System that created a National Credit Card for our wayward Congress. Would you like to see the INTEREST ON THE FEDERAL DEBT because of the linked banking cartel and congressional traitors who use the IRS…
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UFC Champ Jacob Volkmann Calls Out Obama

The Year of the Awakening has started when UFC Champ (and doctor) Jacob Volkmann looks forward to a match with Barry and states that 'someone has to knock some sense into that idiot'. Un-frakkin-believable.  You gotta love Minnesotans, (and how long before Big Sis throws his ass in the gulag?) (H/T BB)
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Glenn Beck, 1.3.2011: America’s Crushing Debt

The Judge is filling in for Glenn as he stocks up on chalk for tomorrow's show.  The Judge interviews Sens. Rand Paul (Kentucky) and Mike Lee (Utah) about the $14.3 trillion dollar debt ceiling that is imminently facing our nation and congress. He also interviews our favorite economist, David Buckner, and Steve Moore about the debt that is crushing our nation and the planned co-opting of the tea party elects.
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The $1.3 Trillion Dollar Black Hole In The Economy

The answers can be found in the red and yellow bars above, representing Federal government spending and state and local government spending.  Federal spending rose by $700 billion, and state and local government spending rose by $300 billion.  (With the state and local spending being funded by Federal government  transfers that have been netted out, so it is really almost all growth in Federal spending.)  The private economy plummeted by $1.3 trillion while the government economy soared by $1 trillion, and we were left with what looks like a much more manageable $300 billion shrinkage, the kind of economic change…
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