With unemployment in his state at 8.5 percent and visa requirements for seasonal workers becoming more frustrating, Colorado farmer John Harold decided to hire fewer migrant farm workers for his harvest this summer and supplement his smaller-than-usual team with locals.
And so it begins. The first major European bank bailout of 2011 has now happened. French/Belgian banking giant Dexia has failed and both governments have pledged to participate in a rescue plan. But Dexia will not be the last major European bank to fail. Even now, governments all over Europe are feverishly developing plans to bail out major national banks in the event that the current financial crisis goes from bad to worse. Instead of learning the lessons of 2008, most major European banks... (more)
Dr. Walter Block, an Austrian school economist and anarcho-libertarian philosopher, is Harold E. Wirth Eminent Scholar Chair in Economics and professor of economics at Loyola University New Orleans and senior fellow with the Ludwig von Mises Institute. He is the author of the books Defending the Undefendable, Labor Economics From A Free Market Perspective, Economics an... (more)
Confirming that one has to be a billionaire or at least a multi-millionaire to be an applicant for the Tax Czar position under the Teleprompted Wealth Readjuster, is the latest sheer class warfare idiocy out of tax expert du jour Harry Reid, who has proposed an overhaul of the Obama tax bill with one in which millionaires end up paying a 5% surtax.
National Journal reports: “Senate Democrats will replace tax increases proposed by President Obama to pay for his $445... (more)
The "Occupy Wall Street" movement is spreading. Protests have appeared in Los Angeles and Washington, DC. The drama has become palpable, featuring a march on LA's city hall, confrontations with police, and mass arrests.
In light of such a spectacle, those who highly value the role of ideas in social change are tempted to root for one side or the other. They wish to see their own ideology reflected in prominent people and institutions, and in any clash it is tempting to seek a hero... (more)
The official OWS website posted the "demands" of a supporter a few days ago. It is not certain if the demands posted below represent the agreed upon consensus of the movement, but if they do we can dismiss it out of hand as another blockheaded attempt to impose socialism.
Interestingly, a few of the demands parallel those of the globalists. This should not come as a surprise since soci... (more)
US lawmakers are going after China and accusing the country of manipulating currency. A bill recently cleared a hurdle in the Senate to impose tariffs on Chinese imports. Is this a political ploy or does Washington have a legitimate case? Could this turn into a trade war? Jim Rogers, investor and author, helps us sort through these issues.
SAN FRANCISCO (AP) - The federal government has found a new weapon in its war on marijuana -- the tax man.
A San Francisco Bay area medical marijuana dispensary that promotes itself as the world's largest has been hit with a $2.4 million tax bill following an audit by the Internal Revenue Service, the dispensary founder said Tuesday.
The back taxes, penalties and interest levied against Harborside Health Center came after the IRS examined its returns for 2007 and 20... (more)
Fifth-generation farmer Kenny Watkins ran afoul of the U.S. clean-water police in 2009. His infraction: Planting hay in a pasture.
The U.S. Army Corps of Engineers ordered Watkins to stop cultivating a 160-acre (65-hectare) tract in central California because he might destroy seasonal ponds and harm the San Joaquin River. Watkins has defied the decision and the federal government’s control over what he can grow on his farm.
His battle is cited by agriculture groups ... (more)
The fund is seeking to invest in a range of natural resources, but gaining access to physical gold is its top strategic priority.
On Sunday, Qatar Holdings, which controls the wealth of the Middle East state's royal family, confirmed it would invest about $1bn in European Goldfields, a London-listed miner currently developing the largest gold-mining project in Greece.
"Qatar Holdings have done a systematic and detailed study of the gold sector," said Ken Costa, who ... (more)
We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the western world is facing a debt crisis that is absolute... (more)
"Roads, Education, and Waterways: The Case Against Public Services"
Lecture by Walter Block presented at the Mises Circle in Houston: "Great Economic Myths," Saturday 29 January 2008; Sponsored by Jeremy S. Davis. http://mises.org
Walter Block, an Austrian school economist and anarcho-libertarian philosopher, is Harold E. Wirth Eminent S... (more)
EMERGING market countries are continuing to top up their gold reserves, with Russia, Thailand and Bolivia among those to add to their holdings in August as developing economies continue to diversify away from traditional reserve currencies.
Recently, emerging market central banks have bought gold in reaction to the sovereign debt crises affecting the US dollar and the euro, analysts say. Demand has also risen strongly in recent quarters as some seek to diversify foreign exchange ... (more)
Rare-earth prices are set to extend their decline from records this year as buyers including Toyota Motor Corp. (7203) and General Electric Co. (GE) scale back using the materials in their cars and windmills.
Prices for cerium and lanthanum, the most abundant rare- earth elements, will drop by 50 percent in 12 months, Christopher Ecclestone, an analyst at Hallgarten & Co. in New York, has forecast. Neodymium and praseodymium, metals used in permanent rare-earth magnets, may fall a... (more)
This is a perfect example of how the market rations scarce resources. You don't have to give some socialist dictator total power like the fake-green cult says, you just let the market function and people solve problems on their own. - Chris
Where’s this coming from? Well, anyone paying attention to the Durbin Amendment (which came out of the Dodd-Frank Act) as it was moving through Congress would have seen this fee coming. The Durbin Amendment essentially limits the amount of mon... (more)
The move may increase pressure for a similar tax in the UK, which suffers from the highest levels of obesity in Europe.
Starting from this Saturday, Danes will pay an extra 30p on each pack of butter, 8p on a pack of crisps, and an extra 13p on a pound of mince, as a result of the tax.
The tax is expected to raise about 2.2bn Danish Krone (£140m), and cut consumption of saturated fat by close to 10pc, and butter consumption by 15pc.
This is pure evil. Fats are good for you, just read the works of Weston A. Price. Bureaucrats said margarine was good for us, yet it's filled with trans-fats which they're now banning all over the place. These people are idiots and they have no business telling people what to eat. - Chris
An eye-opening interview with renowned speculator Doug Casey, conducted by Karen Roche and JT Long of The Gold Report. Doug explains why fiat currencies around the world are destined for collapse... and what investors can, and should, do to protect themselves.
If dollar-dumping turns from a trickle into a flood, look out. Exploding prices (aka exorbitant inflation) resulting from the ... (more)
How in the world does the average American family survive in this economy? The median household income is a little bit less than $50,000 a year right now. So let's call that about $4000 a month. But before any of that money gets spent, you have to take out at least $1000 in taxes. That leaves about $3000 a month to pay all the bills with. With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for power and water, pay for health ins... (more)
Federal Reserve Bank of Dallas President Richard Fisher said the central bank’s independence is under attack from both ends of the political spectrum in Congress, and he singled out two of the critics by name.
“We are being attacked from the right and from the left, and I don’t see much difference between a certain congressman from Texas named Ron Paul and a certain congressman from Massachusetts named Barney Frank,” Fisher said in response to audience questions after a speech in ... (more)
Chris Waltzek: Today’s special guest, Jim Rogers from his home in Singapore. Well, with the panic gripping the global financial system and paper assets going up in flames, my featured guest says commodities prices never fall to zero.
Jim Rogers taught finance at Columbia University, is th... (more)
