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Economics

Coal Miner Gives Heartfelt Testimony Regarding Obama’s EPA Policies

Obama promised that he would put coal fired power plants out of business.  Obama promised that his policies would make make electric bills “skyrocket.”  As we face potential energy shortages and even possible brownouts/blackouts due to Obama’s policies, coal miners are looking forward to a bleak future as well.  Here is video of a miner making a rather humble and heartfelt comment a a public hearing.   When Obama kills the industry that uses much of the coal mined, it puts the coal miners in a precarious position. But, of course, the Obama administration doesn’t care a bit about the […]

Progressive View: Socialize Debt To Grow The Economy

Socializing debt is certainly not a new concept. Who among us. who has ever bought a house, did not take advantage the mortgage interest deduction when itemizing our tax returns? What a great deal! Those who rent and the rich who buy theirs house for cash are forced by law to help us payoff our mortgages. The real estate industry lobbies hard in support of the mortgage interest deduction by arguing the housing industry is a main driver of our economy. Now, as reported by Investors Business Daily, we learn that the paragon of progressive virtue and faux indian princess, […]

Doomed by Debt

Unfortunately for the romantics out there, it is not love that makes the world go around. It’s money that makes the world go around, right? Well, if you think of money as those units of currency you carry in your wallet or pocket, then no it’s not actual money. Actual money (currency) is in relatively short supply. No, what makes the world go around is money created out of thin air; otherwise known as credit or debt. Think fractional reserve lending. Credit/debt is money that was never generated by the real economic production of a good or service. Credit/debt is, however, […]

Are The Central Bankers Planning To Try A Controlled Collapse?

This Zero Hedge article suggests that the central bankers are, at least, talking about the idea of a controlled financial collapse. The article includes this quote from the recent annual report of the Bank for International Settlements (BIS); aka, the bank of the central banks. The risk of normalizing too late and too gradually should not be underestimated… The trade-off is now between the risk of bringing forward the downward leg of the cycle and that of suffering a bigger bust later on . Few are ready to curb financial booms that make everyone feel illusively richer. Or to hold back on quick […]

We Feel Poorer Because We ARE Poorer

Today’s post complements yesterday’s post in which we talked about the faux recovery America has experienced since the so-called Great Recession of 2008. Monty Pelerin’s World has posted a graph and a chart that demonstrate clearly why most Americans are having a harder time making ends meet today than they were a decade or so ago. The following graph shows that most working Americans have seen their nominal income increase over the last 14 years; but their real income after taxes and inflation has fallen by about 9% on average. A fortunate few have earned promotions every three or four […]

The illusion of a recovery: Unemployment drops as part-time work explodes

Recovery Summer Episode VI, Revenge of the Part-Timers. In the new landscape of the American labor market, jobs are easier to come by but hours remain in short supply. New government data released Thursday showed the economy added 288,000 jobs in June — the fifth straight month gains have topped the critical benchmark of 200,000. The unemployment rate fell to 6.1 percent, down more than a percentage point over the past year. But there’s a gnawing fear among some economists that the improving data provides false comfort. The number of people in part-time jobs jumped by more than 1 million […]

New Jersey raises minimum wage, Chili’s deploys robot waiters

Editor’s Note: I’d like to take a minute and welcome our newest contributor here at CH2.0, Chris Wysocki! Now besides the fact that his name sounds like a motorcycle, he is a Blogger, Dad, Curmudgeon, Long suffering Jets fan, Reagan acolyte & Conservative Catholic. ~~~~~~~~~~ Today’s Star-Ledger business section reprinted this article from Sunday’s Washington Post. When Martin Hines takes his 8-year-old daughter for a weekday lunch at the Chili’s Bar & Grill in Timonium, Md., this summer, he s looking for quick service so he can return to work. Instead of waiting for an employee to bring his check, […]

Left Wing Bastions PBS & NYTimes Want to Abolish Corporate Income Tax – Wait, WHAT?

So the left wants to change the bad fortune that the American worker has suffered woe these many years? Are they just now waking up? Well better late than never, I suppose. In recent decades, American workers have suffered one body blow after another: the decline in manufacturing, foreign competition, outsourcing, the Great Recession and smart machines that replace people everywhere you look. Amazon and Google are in a horse race to see how many humans they can put out of work with self-guided delivery drones and driverless cars. You wonder who will be left with incomes to buy what […]

Reports: More Obamacare Cancellations, Premium Hikes On the Way

Hat/Tip to Townhall.com for this bit of news.  Outgoing Secretary of HHS, Kathleen Sebelius, President Barack Obama, and current Budget Director and nominee to replace Sebelius at HHS, Sylvia Mathews Burwell It just keeps getting better and better… /sarcasm off Kaiser Health News reports on the increasing likelihood of more and more large employers dumping employees into Obamacare’s exchanges. An untold number of employees will discover that they can’t keep their plan, especially if they’re a high-risk, high-cost employee. The Obama administration estimated that as many as 93 million Americans will lose their existing coverage under the new law, despite […]

Final tally of job losses from the federal sequester: One

Watchdog.org is reporting that the GAO (Government Accounting Office) has finally released the numbers behind the dreaded sequester. The Government Accountability Office has finished its analysis of the across-the-board federal budget cuts known as the sequestration and determined that exactly one — yes, one — federal employee lost a government job. The GAO surveyed 23 federal departments affected by the budget cuts for its 200-plus page analysis released this week. The report shows that most departments had to cancel or limit monetary awards like grant programs, many reduced employee training or travel and seven agencies reported furloughing a total of 770,000 […]

The Golden Years Of Retirement Are Becoming More Illusive In This Regulatory Nation

The evidence is piling up that pre-baby boomers and the older baby boomers lived through the best time in America’s history if measured by the success rate in living the American dream and being able to comfortably retire while they still enjoyed good health ( often at ages 58 to 60). This article at Zero Hedge reports on a recent Gallop poll showing the average retirement age has hit a record high. Take a look at this graph. It shows in grey the increase in the workforce of people over 54 starting in 1999 to 2013 and in red the […]

Obama Calls for Highest Sustained Taxation…Ever

Last month, President Obama presented a budget to Congress. Immediately Senate Majority Leader Harry Reid asked what it was because it had been so many years since he’d seen an actual federal budget. Okay, I’m not really sure if Harry Reid saw or even understood it, but it still calls for the highest sustained taxation in United States history. CNSNews did an excellent job of evaluating it. In the budget proposal he presented to Congress last month, President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people, according to the […]

America Has A 1.6% Inflation Rate. Aren’t You Lucky?

In the Socialist Paradise where I live, inflation (as reported by the government) was 56% last year. This year the projects are for an inflation of 85% or more. But, you, my dear friends, don’t have an inflation problem back there in America, do you? I Googled US Inflation this morning and found this graph: Wow! 1.6% inflation last month. I guess those blood-sucking Social Security recipients (like me) won’t being getting any adjustment to their benefits this year. Unfortunately, according to this article, those fixed-income blood-suckers and most everyone else are going to be in for some sticker shock […]

Want a Big Mac? Make one Yourself, While you can Still Afford Beef!

While beef prices keep on climbing, I don’t know how easy this will be to do, but someone on Facebook posted the recipe for Big Mac Special Sauce.   Here it is. Just remember though, as beef becomes unaffordable, it’s Bush’s fault.  Everything is Bush’s fault! Beef prices are at a record high, and the cost of other staples, such as milk, butter, eggs, fruit and vegetables are climbing. With a severe drought ravaging farms across most of California, prices are at risk of shooting significantly higher this year. The price of a pound of ground beef has hit $3.55 a […]

Using the Beer Summit to Explain Progressive Taxes

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59. So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the […]

Asylum Watch Interprets Bill Gates et al. Vision Of The Future

Bill Gates has become an American icon. He is the epitome of the American success story. Born into a well to do family, he attended the same elite private school as his father had before him. He went on to Harvard but drop out because he had an idea for a new type computer operating system he wanted to work at developing. He would develop an operating system that would allow low tech people to use computers. He called his new computer operating system “Windows”  and he built a company around his idea called Microsoft. Bill’s idea caught on quickly […]

IRS Intercepts Tax Returns!

Think you’re getting a tax return?  Well, maybe not, if the IRS has their way.  IOwnTheWorld has more… Marc Fisher reporting in the Washington Post: Across the nation, hundreds of thousands of taxpayers who are expecting refunds this month are instead getting letters like the one [Mary] Grice [of Takoma Park, Md.] got, informing them that because of a debt they never knew about — often a debt incurred by their parents — the government has confiscated their check. The Treasury Department has intercepted $1.9 billion in tax refunds already this year — $75 million of that on debts delinquent […]

George W. Bush’s Stimulus vs. Barack H. Obama’s – A Look Back

When Obama came into office, he faced the bursting of the housing bubble and a big recession. His answer was to respond with a stimulus package, mostly full of spending, but with some minor tax cuts thrown in for lip service. But his predecessor also came into office faced with a big recession and he also responded with his own stimulus package. Let’s take a look at the way both men handled the problems facing each. As I said above, let us remember why the Bush tax cuts even took place. When Bush & Cheney took office, they faced a […]

Rich Fleeing High Tax New Jersey

That those with money leave places that take said money from them should be obvious, and need no explanation, but there are democrats in the world.  So, in my own sarcastic and demeaning way, I seek to educate the willfully ignorant.  Wyblog helps considerably… Chris Christie’s patented “Jersey Comeback” may need to be rebranded as a plea — “Come Back, please, and bring your money with you.” Because despite his attempts to reduce our state’s tax burden, the exodus of our wealthy residents continues to escalate. New Jersey’s high taxes may be costing the state billions of dollars a year […]

Obama’s “myRA” will sieze your retirement accounts

I hope folks remember Barack Obama’s State of the Union drivel this past January. Part of the lies and distortions spewed by the fraud-in-chief is his “myRA” plan. The one he touted to help people give up their retirement accounts to the government … er … save for retirement. When the government gets access to money, especially American taxpayer’s money, the need to spend that money is uncontrollable. There is somewhere around $19 TRILLION in private retirement account in America. Is there anyone, liberal or conservative who believes those in the government isn’t trying to think of ways to get at […]