ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 15 11:03

Gold Expert: ‘If Deep State Is pushed In A Corner Much Further, They Can Pull The Plug

Gold and silver expert David Morgan recently appeared in an interview with USA Watchdog‘s Greg Hunter. Morgan said point blank that “if the Deep State gets pushed into a corner much further, they can basically pull the plug,” and may just crash our economy.

Morgan explains why he thinks it is a great idea to have some physical gold and silver in your portfolio. “That means the stock market could come tumbling down, and then they [the deep state] could blame the Trump Administration,” said Morgan.

“If you are losing the chess game, you just get up and turn the table over and the pieces go flying everywhere. That is a metaphor for a war. That’s a metaphor for crashing the stock market. That’s a metaphor for crashing the bond market, and it’s a metaphor for it happening on its own. I am concerned that if you win, you lose. This is why the unraveling is being done extremely carefully,” he continued.

Mar 15 10:42

Peak Gold Has Arrived

Following the recent market crash, investors lost $5.2 trillion worldwide before the market managed to recover most of the losses. There are hints that certain bubbles are ready to burst as the worlds biggest hedge fund positions accordingly.

In addition to the stock market, the global gold supply is weakening, leaving investors anticipating higher prices. In 2017, the gold supply plummeted the most since any year since 2008. If the supply of gold is really plateauing, experts are predicting a 'peak gold' period.

Mar 15 10:40

Trump's Tariffs Could Start A Real War

Trump’s steel and aluminum tariffs may set his epitaph in stone… “Herbert Hoover II.”

History remembers Hoover as one of the worst American presidents.

Like Trump, he was a rich international businessman. He was also a political outsider. Hoover hadn’t held public office before his 1929 inauguration. And, like Trump, Hoover faced intense pressure from struggling American workers.

In 1930, he signed the Smoot-Hawley Tariff Act into law, raising tariffs on thousands of imported goods to record levels. This kicked off a tariff war, reducing American exports by half. It was a crushing blow to the American economy.

Nearly a century later, Trump seems determined to make the same mistakes…

Mar 15 10:40

Sound Familiar? Home Flipping In The US Hits 11-Year High

In a disturbing echo of the runup to the housing crisis, a recent study has revealed that the practice of flipping homes in the US is back in vogue - with the number of houses flipped rising to its highest level in 11 years.

If that doesn't spook residential real-estate speculators, we're not sure what would. Hundreds of thousands of American homebuyers have apparently forgotten how, 11 years ago, a Mexican immigrant working as a strawberry picker in Bakersfield, California, making $14,000 per year, was lent every single penny he needed to purchase a $720,000 home. And as crazy as that might sound, stories such as that were alarmingly common during the period before the 2008 housing crash (though, of course, few, if any, alarm bells actually went off).

Mar 15 10:34

*****What I have been afraid to blog about: THE ESF AND ITS HISTORY (Part 1-5)*****

It is impossible to understand the world today without knowing what the ESF is and what it has been doing. Officially in charge of defending the dollar, the ESF is the government agency which controls the New York Fed, runs the CIA's black budget, and is the architect of the world's monetary system (IMF, World Bank, etc). ESF financing (through the OSS and then the CIA) built up the worldwide propaganda network which has so badly distorted history today (including erasing awareness of its existence from popular consciousness). It has been directly involved in virtually every major US fraud/scandal since its creation in 1934: the London gold pool, the Kennedy assassinations, Iran-Contra, CIA drug trafficking, HIV, and worse...

Mar 15 09:44

Oklahoma Senate Approves Ball and Dice Games for Tribal Casinos

A bill meant to expand the types of games tribal casinos may offer passed through the Oklahoma Senate on Wednesday, but not without some questioning the need for it. Senate Bill 1195, authored by Senator Greg McCortney, expands the state’s compact with the Tribes to allow for dice games and roulette wheels, commonly known as ball and dice games.

SB 1195 is expected to generate about $22 million for the state.

Mar 15 09:32

Retail Sales, Fed Atlanta

Mar 15 09:26

Tons of gold pours from sky in Russia after plane hatch falls off

Gold bars worth millions of dollars have fallen out of a plane taking off from Russia’s Yakutia region, famous for its diamond deposits. Ruptly was one of the first to film the valuables inside the damaged jet after the incident.
Photos circulating on social media appear to show gold bars wrapped in material scattered on the runway at Yakutsk Airport, in the country’s major diamond-producing region. The precious metals fell from the Nimbus Airlines An-12 plane when its cargo hatch accidentally flew open upon takeoff, Russia’s Investigative Committee confirmed on Thursday.

Webmaster's Commentary: 

Oops!

Mar 15 09:19

What Trump’s trade war could mean for you

Facing higher prices for foreign steel under the Trump tariffs, steel consumers have three options. They can absorb the cost and fire workers. They can absorb the cost and lower their profit margin. Or they can pass on the cost to customers.

Mar 15 08:51

Baker fined for 'working too hard' after keeping his business open seven days a week

A BAKER in France has been fined the equivalent of £2600 for "working too hard" for loyal customers who expect fresh bread every morning.

Cedric Vaivre, 41, received the punishment for keeping his business open seven days a week during the summer of 2017.

This broke strict employment laws in a country that still views a day of rest as being essential for everybody.

But those who rely on Mr Vaivre for their baguettes and croissants said it was ‘disgusting’ that he was being treated so shoddily.

Mar 15 08:39

Italy’s Financial System Will COLLAPSE and the ECB and EU Will Rule the Nation!

Mar 15 08:15

Clinton Donor, Obama Entrepreneurship Ambassador Charged With Massive Fraud

Elizabeth Holmes, a Clinton donor who was named a Presidential Ambassador for Global Entrepreneurship under former President Barack Obama, has settled with the Securities and Exchange Commission after being charged with "massive fraud" on Wednesday.

Holmes, 34, was the founder and CEO of Theranos, a privately owned Silicon Valley health tech company once valued at $9 billion. The SEC alleges the company deceived investors when raising more than $700 million from late 2013 to 2015, and as a result, Holmes will pay a $500,000 fine and be barred from serving as a director or officer of a public company for 10 years, according to CNBC.

Mar 15 08:01

It Is Now Abundantly Clear Why Steve Mnuchin Didn't Want People to See This Video

Treasury Secretary and former Goldman Sachs banker Steve Mnuchin tried to suppress video footage of his appearance at UCLA last month, and now that the video has finally been made public, it is abundantly clear why.

Invited to discuss the GOP tax bill he helped craft and the White House's broader economic agenda, Mnuchin was repeatedly interrupted by students and other event attendees, who deployed a mixture of protest tactics to express displeasure at the Trump administration's policies—tactics that ranged from coughing and hissing loudly to yelling out that the treasury chief is "full of shit."

You have to watch to get a complete sense of Mnuchin's growing agitation and confusion in the face of dissent against the Trump administration's corporate agenda.

Mar 15 02:43

Are We Close to the End of the Credit Cycle?

Mar 14 15:05

The 25 Countries With the Most Billionaires

Mar 14 14:14

Trade War: US Launches WTO Challenge Of Indian Export Subsidies

While we await the announcement of the trade war nuke - namely tariffs against China - moments ago the US Trade Representative announced the launch of a WTO challenge to Indian export subsidy programs, in the latest global trade skirmish which is likely to grow into something far bigger.

Mar 14 14:11

Real earnings, Saudi output and pricing

Mar 14 13:25

WTF just happened in a little under a month?

Mar 14 12:32

TRUMP TARIFFS:  THE WAR DRUMS ARE BEATING

“We have, I would say, probably the best relationships right now with Israel that we have ever had…We are very close on trade deals. We are very, very close on military and terrorism, and all the things we have to work together on. So the relationship has never been better.”

President Donald Trump greeting Benjamin Netanyahu, March 5th, 2018

Mar 14 12:14

Here Comes The Main Event: Trade War With China, And What Is Section 301

The recently announced global steel and aluminum tariffs (with various exemptions) by the Trump administration were just a (Section 232) preview of the main event: Trump's imminent trade war with China, which as Credit Suisse previews, will be unveiled any moment in the form of tariffs and restrictions on trade with China, reportedly in retaliation for Chinese IP violations.

First, a reminder on the all-important Section 301:

Webmaster's Commentary: 

Mr. President, a word, please: with your desperately needing Beijing to be handholding Kim Jung Un in preparation for your talks with him before May of this year, the timing - and optics - of creating such tarriffs could possibly be worse, but I cannot tell you how.

Mar 14 11:09

Verizon Forced to Repair Broadband Infrastructure It Has Literally Let Fall Apart

A new settlement requires Verizon to replace bad cable, defective equipment, and faulty back-up batteries

Webmaster's Commentary: 

We have the same problem with Spectrum. We pay for 300 mbps service but only get 60 mbps. When I complain, they insist it must be something wrong with my equipment.

Mar 14 10:47

Trump: Want Tariffs Raised, Canada? Re-Negotiate NAFTA!

President Trump already said that there could be no exemptions to his steel and aluminum import tariffs, lest every country in the world come crawling after the exemption – but he said this week there might be a way for Canada and Mexico to get a special deal.

“Tariffs on steel and aluminum will only come off if new & fair NAFTA agreement is signed,” Trump tweeted on Monday. “We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.

“Also,” he continued, “Canada must treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying.”

Mar 14 10:21

Bankrupt Baltimore 'Somehow' Finds Money To Fund Lawyers For Illegal Immigrants

Baltimore ranks high on the “shithole” list for its widespread death and destruction. The city’s population hit a 100-year low in 2017, as residents are fleeing neighborhoods to escape the violent crime. The federal government stepped in last year at the request of the mayor to get the city under control. Intelligent agencies are circling above with light aircraft using optics and other spy-tech to monitor residents, meanwhile, a network of cameras on the city streets use facial recognition software to track citizen.

Mar 14 10:16

The $5,000 Burger And 13 More Ridiculously Expensive Restaurant Dishes

In these frugal times, you might expect restaurants to roll out inexpensive entrées and desserts to woo penny-pinching diners. More meatloaf! Less filet mignon! Some have. While others have stuck to their luxurious guns with dishes that could decimate your bank account in a few forkfuls.

In some cases, these expensive meals are more publicity stunt than inspired eating. For instance, in New Orleans, Arnaud's serve its namesake dessert of strawberries, ice cream, and a port red wine sauce alongside a 5-karat pink-diamond ring, bringing the bill to $1.4 million. Adding a gemstone to ratchet up a tab is an easy tactic, as is overdoing it with top-shelf ingredients.

For example, New York City's Norma's offers the Zillion-Dollar Frittata that, despite its florid moniker, costs a mere $1,000. That eye-popping sum buys a six-egg frittata freighted with a whole lobster, and 10 ounces of lustrous caviar.

Mar 14 10:15

Avalon Hotel Burger Costs $500

This meal is for one percenters with 99-percent tastes.

The humble hamburger is getting a $500-dollar upgrade at the Avalon Hotel’s Oliverio restaurant in — where else? — Beverly Hills, Calif.

Called the “Hamburger al Tartufo,” the dish celebrates white truffle season by cramming the fancy fungus into almost every possible aspect of the beast. The burger patty is made with 12 ounces of Kobe beef then topped with truffle-infused cheese. On top of that, two more ounces of shaved white truffles, because why not?

The dish is so expensive that the restaurant requires diners to order and pay for it 48 hours in advance.

Mar 14 10:10

Theranos' CEO Elizabeth Holmes Charged By SEC With "Massive Fraud"

A little over two years after Theranos was exposed as a fraud by the WSJ, and not that much longer after its CEO Elizabeth Holmes was prancing around with Bill Clinton on the stage of the Clinton Global Initiative the SEC finally woke up, and moments ago it announced that it has charged Elizabeth Holmes as well as Theranos' former president Ramesh Balwani with "massive fraud" for raising $700M+ "through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance."

The SEC announced that as part of a settlement, Theranos and Holmes have agreed to resolve the charges against them, and "in addition to a penalty, Holmes has agreed to give up majority voting control over the company, as well as to a reduction of her equity which, combined with shares she previously returned, materially reduces her equity stake."

Mar 14 09:47

Schumer struggles to contain Warren-led rebellion

Midway through Elizabeth Warren's fire-breathing campaign to tank a bank deregulation bill backed by more than a dozen Senate Democrats, Chuck Schumer invited her to his office.

Warren had just sent a fundraising email blasting fellow Democrats who supported the legislation, and Senate Democrats had just had an ugly caucus meeting at which the rift over the measure was laid bare. And now Schumer wanted to hear what was on the mind of one of his most prominent senators, according to a person familiar with the conversation.

“This is what I said I was going to do,” Warren told the Senate minority leader in a lengthy conversation last Wednesday, the person said. “This is why I ran for the Senate.”

Mar 14 09:20

Australian businesses call for cut to minimum wage

Australians on the minimum wage hoping for a boost to their wages this year may be sorely disappointed if certain employer lobby groups get their way.

The National Retail Association and the Restaurant and Catering Industry Association of Australia took the controversial step on Tuesday of calling on the Fair Work Commission to keep the minimum wage flat at $18.29.

That may not sound surprising, given both groups represent two industries – retail and hospitality – that often pay no more than minimum wage.

But it puts them at odds with the wider business community. Most business groups acknowledge that minimum wages need to rise in order to keep up with inflation – currently 1.9 per cent.

If inflation goes up by 1.9 per cent a year, but the minimum wage stays the same, then those on the minimum wage take a de facto pay cut.

Mar 14 09:12

Shooting Ourselves In the Foot

We did what to ourselves? Our representatives, senators, and Presidents, supposedly acting on our behalf, voted for and created what history has shown are huge monetary and fiscal mistakes.

Some will disagree, but consider this partial list:

1 – Central banking and The Federal Reserve Act: Enough money was spread around Washington D.C. to purchase the passage of this self-serving banking monstrosity. It was signed into law by President Wilson over a century ago.

David Stockman has a clear assessment and firm opinions regarding the danger and destructiveness of the Central Bank. His statement is:

Mar 14 09:11

Taleb: "Best Thing For Society Is Bankruptcy Of Goldman Sachs"

In Taleb’s universe, the fieriest circle of hell is reserved for bankers and neoconservatives.

Nassim Nicholas Taleb is an intellectual brawler, a philosophical pugilist. His new book, Skin in the Game, put me in mind of the final scene of The Godfather or Reservoir Dogs: everybody gets whacked. Bankers and bureaucrats, warmongers and wonks – all are targeted by Taleb.

For the Lebanese-American thinker, their shared sin is that (with some exceptions) they lack “skin in the game”. By this, Taleb means they are insulated from the consequences of their actions: they do not have “a share of the harm” or “pay a penalty if something goes wrong”. This “asymmetry in risk bearing”, he warns, leads to “imbalances”, “black swans” (the rare but high-impact events described in his 2007 mega-seller) and “potentially, to systemic ruin”.

Mar 14 09:10

The Real Retirement Crisis: The Elderly Are Broke

A study released by GoBankingRates reveals that older people planning their retirement have cause for concern. Forty-two percent of Americans are facing their golden years with less than $10,000 in savings. A lack of savings and planning has reduced what should be an enjoyable time in seniors’ lives to a period of stress and worries for many.

Mar 14 08:43

Bavaria Wants to Keep Chinese Investors Away From German Companies - Report

The German federal state, home to the world’s leading industrial concerns BMW, Siemens and others is reportedly preparing stricter limits for Chinese stake buyers amid fears of stealing technology and threats to industrial security.

Bavarian authorities are preparing new legislation, which lowers the stake barrier for Chinese investors from the current 25% to 10% maximum share, according to the local outlet Augsburger Allgemeine. The southern German state is set to introduce the proposition to the national parliament after several acquisitions by Asian tycoons have alarmed Europe’s largest economy.

Mar 14 08:32

Venezuela Faces the Return of Forgotten Diseases

Diseases that haven't been prevalent in years are recurring in Venezuela as malnutrition and the lack of basic sanitation increase. Do you know what forgotten diseases are endemic where you live?

Mar 14 08:25

EU Extends Anti-Russian Sanctions Over Ukrainian Territorial Integrity Breach

The Council of the European Union announced on Monday it was extending sanctions "over actions undermining or threatening the territorial integrity" of Ukraine for six months.

"On 12 March 2018, the Council prolonged the restrictive measures over actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine for a further six months, until 15 September 2018. The measures consist of asset freezes and travel restrictions. They continue to apply to 150 persons and 38 entities. An assessment of the situation did not justify a change in the sanctions regime," the statement read.

Other restrictive measures of the EU in response to the crisis in Ukraine include economic sanctions targeting some sectors of Russia's economy, as well as measures limited to the territory of Crimea and Sevastopol, which rejoined Russia in 2014.

Mar 14 08:24

Merkel: Europe Must Respond to Unilateral Actions by US on Trade

In the trade dispute between the US and Europe, German Chancellor Angela Merkel still sees hope for discussion and dialogue, she told reporters in Berlin at a joint briefing with the leaders of the parties that will make part of Germany's future government.

Merkel stressed that Europe must be ready to respond to the US unilateral actions such as imposition of trade tariffs, but the focus should remain on talks.

"If this unilateral action cannot be avoided, then we must think about how we can respond in a reciprocal fashion but I prioritize dialogue in the first place and there will be an opportunity for it," Merkel said.

Mar 14 08:24

Trump's Tariff Plan May Shatter Pillars of the World Trade Order – Academic

The Trump administration's decision to unilaterally increase import tariffs on steel and aluminum could trigger a domino effect worldwide thus affecting the global economy, Huang Weiping, professor at the People’s University of China, told Sputnik.

The US attempt to unleash a trade war on China creates a dangerous precedent which could undermine the very principle of free trade, Huang Weiping, professor at the People's University of China, warns.

Mar 14 06:58

All Indicators Point To Higher Inflation

Mar 13 22:42

“I hope for Goldman Sachs’ bankruptcy”: Nassim Nicholas Taleb on Skin in the Game

In Taleb’s universe, the fieriest circle of hell is reserved for bankers and neoconservatives. “The best thing that could happen to society is the bankruptcy of Goldman Sachs,” he tells me. “Banking is rent-seeking of industrial proportions.” Taleb, who became rich as a derivatives trader, is not a foe of capitalism but of “cronyism”. “If you’re taking risks, God bless you. This is why I accept inequality. I’ve seen people go from trader to cab driver and back again.”

Mar 13 15:47

Martin Armstrong – Dow 50000!

Mar 13 15:34

What Will Blow the Stock Market to Pieces

Mar 13 14:05

The Trade War Escalates: Trump Demands Broader Tariffs Against China

Update: Reutersis reporting that Trump is planning to impose tariffs on $60 billion of Chinese imports. The tariffs will primarily target technology and telecommunications imports - but would not be expressly limited to these sectors, according to one source.

Politico reported earlier that Trump rejected a plan for imposing $30 billion in tariffs on Chinese imports, saying they weren't big enough.

Webmaster's Commentary: 

I am having a Jon-Luc Picard double face-palm, at warp speed, upon reading this.

Mr. President, you really need the Chinese government and business structure to be as sympathetic to your peace talks with Kim Jung Un as humanly possible.

The timing and optics of such tarrifs COULD possibly be worse... but I honestly cannot tell how.

Mar 13 13:06

Volatility Is Back

Mar 13 12:36

Bonds are selling like hotcakes what it means

Mar 13 11:21

BIG PHARMA PAID MILLIONS IN SECRET SETTLEMENTS AFTER ANTIDEPRESSANTS LINKED TO MASS MURDER

Every time there are reports of a mass shooting, there are a number of people who automatically question whether the suspect had mental health issues or was taking prescription medications such as antidepressants.

While history has shown that the most notorious mass shooters in this century were taking antidepressants or Selective Serotonin Reuptake Inhibitors (SSRIs) before they carried out the deadly rampages, there are a number of killings that have been linked directly to the dangerous drugs. In fact, the pharmaceutical companies behind the most popular SSRI’s have paid hundreds of millions of dollars in damages:

ELI LILLY PAID SECRET SETTLEMENTS TO SURVIVORS AFTER MAN ON PROZAC WENT ON SHOOTING RAMPAGE IN 1989

GLAXOSMITHKLINE PAID $6.4 MILLION TO THE FAMILY OF A MAN WHO MURDERED THREE FAMILY MEMBERS HOURS AFTER TAKING PAXIL IN 1998

Webmaster's Commentary: 

The Presidents of these large pharmaceutical companies, who know the risks, but do not inform doctors or patients of these substantial risks, should be prosecuted for selling unsafe products, and should be doing hard jail time - not in a Club Fed.

That should begin to cure the problem.

Unfortunately, that will only happen in this country when pigs discover that they are aerodynamic, as Big Pharma handsomely pays off candidates for high office, overtly, and covertly, to look the other way, when their products cause grevious harm to end users

Mar 13 11:07

Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony

A country’s sovereignty is becoming the driving force of so many changes in the geopolitical sphere, today. Whether it is Brexit, surprise electoral victories in central Europe or a change in trade deals, sovereignty is at the forefront of so many of these decisions.

One of the first indicators that there was a change in the water when it comes to globalisation and international cooperation was through central bank gold buying and repatriation.

For some time now many central banks have been working on building up their gold reserves and ensuring they are stored on soil it believes to be safe and trustworthy.

The most recent central bank to make this change is that of Hungary. Last week it was announced that it intends to bring 100,000 ounces of its very limited 5 tonnes gold reserves, back home from the Bank of England.

Mar 13 11:00

Thousands of pounds of human waste, close to 14,000 hypodermic needles cleaned out from Santa Ana River homeless encampments

Orange County Public Works released eye-popping figures Thursday, March 8, on the total amount of debris, needles and hazardous waste removed when crews cleaned up the area along the Santa Ana River Trail once populated by the encampments of homeless people.

Here’s what was collected between Jan. 22 and March 3 from a more than two-mile stretch of bike trail roughly from I-5 in Orange to Ball Road in Anaheim, according to OC Public Works spokesman Shannon Widor:

404 tons of debris
13,950 needles (approximate number based on what disposal containers hold)
5,279 pounds of hazardous waste (human waste, propane, pesticides and other materials)

Mar 13 10:55

Labor Force Statistics from the Current Population Survey

Webmaster's Commentary: 

This confirms there are 90 million legal Americans who want to work but cannot find a job.

Mar 13 10:54

Report: Illinois is 2018's least fiscally stable state

Illinois is the most financially unstable state in the nation, according to new ranking by U.S. News and World Report.

The ranking of 2018’s most fiscally unstable states was conducted by McKinsey & Company, the global management and consulting firm. The report considered credit rating and state public pension liability to rank states on long-term stability. For short term, the report measured each state's cash solvency and budget balance.

Illinois was 50th overall.

The state’s pension debt – commonly estimated at $130 billion, but measured as high as $250 billion last summer by Moody’s – was a factor. That debt load was cited by Moody’s and other creditors as a cause of the state’s near junk rating.

Rankings by short-term stability used the amount of liquid funds in a state’s budget and how balanced the state’s budget is.

Mar 13 10:54

Bank loans, Cell phone sales

Mar 13 10:54

Riley: Providence Should Fine Even More & Pay Off Pension Debt

Maybe the cameras catching and charging speeding vehicles in Providence $95 a shot is a good thing. It is definitely a “money grab," but it is also a sin tax or user tax -- rather than charging all Rhode Island residents who do not live or work in Providence for lousy municipal fiscal management and purposely lying about pension debt.

These speeding violation revenues should be dedicated to paying off the Providence pension debt that threatens all taxpayers in Rhode Island.

A good target would be emergence from “critical status” or until the pension fund is at least 60% funded. At a ticketing rate of 20,000 tickets per month, the city gets about half or $1,000,000 per month. Contributing that $12 million a year to pay down the pension debt, it will the allow Mayor Elorza to stop lying and use a 7% investment return to calculate contributions to pension plans.

Mar 13 10:53

As Chicago faces a budget gap approaching $260 million, one alderman suggests more ticketing to close the shortfall.

Just one month after celebrating a city budget shortfall of “only” $114.2 million, Chicago Mayor Rahm Emanuel had to revise his numbers to more accurately convey the financial disaster facing the city. The official budget gap now stands at nearly $260 million.

One method floated to close that gap? “Super” ticket writers.

Alderman Raymond Lopez, 15th Ward, has suggested closing the gap by hiring more ticket writers to bring in more revenue. Of course, this would require the city spending more money, approximately $4.5 million upfront, to bring these ticket writers online.

These new ticket writers would be tasked with enforcing quality-of-life violations in each of the 50 wards. That means more revenue for the city from enforcing laws on everything from noise violations to not shoveling the sidewalk after a snowstorm.

Mar 13 10:48

Your Pension Is a Lie: There's $210 Trillion Of Liabilities Our Government Can't Fulfill

In the US, we have two national programs to care for the elderly. Social Security provides a small pension, and Medicare covers medical expenses. All workers pay taxes that supposedly fund the benefits we may someday receive.

The problem is that's not actually true. Neither of these programs is comprehensive.

Mar 13 10:47

Illinois & California Ignore Massively Unfunded Pensions, But Pennsylvania & Michigan Take Action

The media likes to focus on political scandals and negative news, but it’s also important to commend elected officials when they do the right thing, especially when it involves standing up to the most influential and well-funded special interest in modern American politics: government sector unions.

While the near $20 trillion federal debt gets more attention, among the most pressing challenges facing government finances in the U.S. are exorbitant and growing unfunded state and local pension liabilities, now pegged at $5 trillion when assuming realistic rates of return.

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