IMF calls for dollar alternative

Republicans promise $100 billion in spending cuts

Heritage Foundation: What the Collapse of Marriage Means for Children

Victor David Hanson: Jerry Brown, a Modern Sisyphus

    Victor David Hanson writes at Townhall: “Somehow, Jerry Brown must not only change the way Californians act, but also the strange way they now seem to think — convincing the present generation to produce far more private wealth while consuming far fewer public funds. Otherwise, the revenue-strapped and reform-minded governor is little more than a modern Sisyphus — endlessly pushing his enormous rock uphill, never quite reaching the top.”


  • Posted: 02/10/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: townhall.com

  • Tags: , , ,

UK: Marriage makes us all richer – not poorer

Sen. Coburn open to Rand Paul spending cuts

An Agenda for Economic Growth

    NCPA Policy Digest: “President Barack Obama’s State of the Union Address and Congressman Paul Ryan’s response were strangely missing a focus on the key to restoring America’s future: an agenda for economic growth, says Forbes Magazine. The basis for a bipartisan growth strategy can be brought into focus by combining five proposals made by either President Obama or Congressman Ryan.”


  • Posted: 02/08/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: www.ncpa.org

  • Tags: ,

Congress Is Unable to Control Its Own Spending

    NCPA Policy Digest: “The statutory debt limit, or debt ceiling, was designed to control congressional spending by limiting the amount of debt the federal government could accumulate. Clearly, it has not fulfilled its legislative purpose. In fact, the government has lost its ability to monitor its own spending, says Veronique de Rugy, senior research fellow at the Mercatus Center at George Mason University.”


  • Posted: 02/08/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: www.ncpa.org

  • Tags: , ,

Republicans out front of Obama on regulations

The States Can’t Afford ObamaCare: Their budgets will be crushed by the Medicaid expansions that the feds are forcing on them

    George Melloan writes at the Wall Street Journal: “Behind this week’s ruling by U.S. District Court Judge Roger Vinson overturning ObamaCare on constitutional grounds, there is a deeper economic reality. The states can’t afford it. That’s a primary reason why 26 states joined in the Florida lawsuit to nullify the federal law. It also would be a good reason for the Supreme Court to uphold Judge Vinson’s ruling.”


  • Posted: 02/07/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: online.wsj.com

  • Tags: ,

Now comes hard part for Boehner as run of GOP unity nears end

Rasmussen: 32% of Voters Are Both Fiscal and Social Conservatives

States of Resistance: Governors are fleeing ObamaCare after the Florida ruling

Despite China’s might, US factories maintain edge

Samuel Gregg: Risk, uncertainty, and the rule of law

    Samual Gregg, Research Director at the Acton Institute, writing at Public Discourse: “The Economics journalist Robert Samuelson recently observed that signs of undue risk adverseness are creeping into the American economy . . . Given the severity of the 2008 financial crisis and the associated recession, such trends are understandable. But another element in play is the degree of uncertainty now characterizing the American investment climate . . . the degree of uncertainty may well be heightened by the gradual impact upon the economy of another factor: a notable weakening of several conditions that make up vital elements of the rule of law.”


  • Posted: 01/26/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: www.thepublicdiscourse.com

  • Tags: , ,

UAE: Interest legal under Sharia, court rules

Peter Orszag: America must brace itself for turbulence

    Peter Orszag, Vice Chairman of Global Banking at Citigroup and formerly Obama’s Director of the Office of Management and Budget, writing at Financial Times: “If policymakers will not act before we have a fiscal crisis at the federal level, a fiscal crisis we will ultimately have. Until then we will see a microcosm of this broader problem arise dur­ing debate about increasing the federal debt limit, later this spring. This will be contentious. We may have to experience some temporary market turbulence before it is resolved.”


  • Posted: 01/21/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: www.ft.com

  • Tags: ,

Legal Periodical: The Credit Crunch and Islamic Finance

    Omar Salah and Reinout M. Wibier, The Credit Crunch and Islamic Finance: Shari’Ah-Compliant Finance Against the Backdrop of the Credit Crisis (January 18, 2011). Tilburg Law School Research Paper No. 01/2011. Available at SSRN: http://ssrn.com/abstract=1742781

    “This article deals with the question whether principles used in Islamic finance could have mitigated the effects of the crisis of credit. The authors discuss the main causes of the credit crunch, followed by a description of the main principles of Islamic finance. Through an analysis of financial instruments that are regarded as the main causes of the crisis of credit, the authors make a comparison between the conventional financial system and the Islamic financial system. Are there lessons to be learned from Islamic Finance in this respect?”


  • Posted: 01/20/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: ssrn.com

  • Tags: , , ,

Union head: More spending, not cuts to spur growth

Dolan outlines U.S. Bishops’ legislative priorities for new Congress

Pat Toomey: How to freeze the debt ceiling without risking default

Cal Thomas: Contrasts in black and red

    Cal Thomas writing at Townhall: “In Illinois, Democratic legislators and a Democratic governor pushed through a massive 67 percent personal income tax hike . . . In his State of the State address last week, Indiana Republican Mitch Daniels, properly took credit for policies that have placed his state among the financially strongest in the nation: lowest property taxes in the country and matching spending to income by eliminating ‘nice to do’ programs, focusing instead on ‘must do’ ones.”


  • Posted: 01/18/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: townhall.com

  • Tags: , , , ,

High labor costs = fewer jobs

Hu highlights need for U.S.-China cooperation, questions dollar

New US lawmakers want action on China currency

Is there really a debt limit? Ten Congressional increases in ten years

Poll: Three in 10 Americans commit financial infidelity?

Arthur B. Laffer: A Price for Raising the Debt Ceiling

Heritage Foundation: No Debt Ceiling Raise Without Spending Cuts

    Heritage Foundation Morning Bell: His Treasury Secretary, Tim Geithner, sent a letter to Congress last week claiming that unless they raised the debt ceiling by “the end of the first quarter of 2011,” the “full faith and credit of the United States” would be “called into question” and there would be “catastrophic damage to the economy.” This is, of course, completely false. The United States government will not default on its debt. Federal taxes will still be collected by the Treasury, and the United States Constitution requires the government to pay interest and principal on the debt first. The creditworthiness of the U.S. is not in danger. Just look at history.


  • Posted: 01/13/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: blog.heritage.org

  • Tags: , , ,

NCPA: The U.S. Loses Ground on Economic Freedom

GOP’s own “Great Society” backfired

Paul Jacob: The sky will fall if the ceiling won’t rise?

    Paul Jacob writing at Townhall: “To economist John Lott, the current push for a quick increase in the debt level is yet another example of the Obama administration’s ‘overused tactic of claiming crises to push legislation.’ Lott explains that Congress has voted not to raise the debt ceiling before, numerous times, and that a default is not an immediate outcome of the federal government’s credit card being removed from its wallet.”


  • Posted: 01/10/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: townhall.com

  • Tags: , ,

Why teacher pensions don’t work

    Joel Klein writing in the Wall Street Journal [full text via Google News]: “We live in a funny world. Bernie Madoff pretended he was getting 8% returns on his clients’ investments—and he’s in jail for running a Ponzi scheme. But in the public sector that kind of make-believe is common. As former chancellor of the New York City public schools, I learned that one of the options the city pension plan offered teachers and administrators guaranteed an 8.25% return, regardless of what the investments actually earned in the market . . . Whether the investment returns are there or not, defined-benefit pensions require the government to pay retirees a predetermined amount for life.”


  • Posted: 01/10/2011
  • |
  • Category: Miscellaneous

  • Tags: , , ,

European nations begin seizing private pensions

Sifting options on corporate tax rates

Roots of British student unrest unresolved

No bailouts for government unions

    Heritage Foundation: “The problem with government unions is that, unlike the private sector, governments have no competitors. If a union ends up extracting a contract from a private firm that eats up too much profits, that firm will lose out to the competition. But when a union extracts a generous contract from government, there is no check on that spending. Instead of being disciplined by more efficient competitors, the government just pays for higher spending with higher taxes or borrowing.”


  • Posted: 01/03/2011
  • |
  • Category: Miscellaneous
  • |
  • Source: blog.heritage.org

  • Tags: , ,

Indian Muslim traders welcome sharia-compliant share index

Coburn predicts “apocalyptic pain” if spending isn’t reined in

Pew Research Ctr: Women, men and the new economics of marriage

South Korean Parliament fails to act on tax benefits for Sukuk at urging of Christian groups

The looming economics crisis in the states

    New York Times: “Faced with $4.5 billion in overdue payments, Illinois has proposed a precarious plan to sell its delinquent bills to Wall Street investors in exchange for cash . . . It is no way to run the nation’s fifth largest state, and it is not even clear that investors will agree, but these kinds of shaky deals are likely to become increasingly common as the states try to cope with the greatest fiscal drought since the Great Depression.”


  • Posted: 12/28/2010
  • |
  • Category: Miscellaneous
  • |
  • Source: www.nytimes.com

  • Tags: , ,

Video: The coming collapse in the state budgets

The economic impact of a 25% corporate income tax rate

    Heritage: “The Heritage Foundation’s Center for Data Analysis (CDA) conducted a dynamic simulation of a reduction of the corporate income tax rate to 25 percent, comparing it to a baseline forecast of the economy with the current policy of a 35 percent corporate rate.[1] The results of this simulation show the U.S. economy growing faster than the baseline in the 2011–2020 forecast horizon.”


  • Posted: 12/16/2010
  • |
  • Category: Miscellaneous
  • |
  • Source: www.heritage.org

  • Tags: , ,

Daniel Henninger at WSJ: What are taxes for?

Reuters Special Report: Is America the sick man of the globe?

Egypt: The financial burden of marriage and its societal repercussions

Billionaires on the warpath?

Samuel Gregg: “Socialism and solidarity: It is at our own peril that we ignore the nexus between moral convictions, the institutions in which they are realized, and our economic culture.”

    Samuel Gregg writing at The Public Discourse: “[W]hile moral beliefs have an important impact upon economic life, the manner in which they are given institutional expression also matters. This is illustrated by the different ways in which people’s responsibilities to those in need—what might be called the good of solidarity—are given political and economic form . . . [I]t is widely assumed throughout Western Europe that this moral responsibility should be primarily articulated through state action . . . Though Americans tended, Tocqueville noted, to dress up their assistance to others in the language of enlightened self-interest, he observed that Americans usually expressed the value of helping those in need through the habits and institutions of free and voluntary association.”


  • Posted: 12/13/2010
  • |
  • Category: Miscellaneous
  • |
  • Source: www.thepublicdiscourse.com

  • Tags: , , ,

Polygamy produces a host of social ills, court told

Americans still strongly favor audit of the Fed

Sarah Palin at WSJ: Why I Support the Ryan Roadmap

    Sarah Palin writes at the Wall Street Journal: “The publication of the findings of the president’s National Commission on Fiscal Responsibility and Reform was indeed, as the report was titled, “A Moment of Truth.” The report shows we’re much closer to the budgetary breaking point than previously assumed. The Medicare Trust Fund will be insolvent by 2017. As early as 2025, federal revenue will barely be enough to pay for Social Security, Medicare, Medicaid and interest on our national debt. With spending structurally outpacing revenue, something clearly needs to be done to avert national bankruptcy.”


  • Posted: 12/10/2010
  • |
  • Category: Miscellaneous
  • |
  • Source: online.wsj.com

  • Tags: ,

Fed critic Ron Paul wins oversight gavel

The good, the bad, and the ugly of the tax deal

Pelosi pledges to win changes as House Dems reject tax-cut deal

Polygamy’s many wives don’t capture “market value”

Walter E. Williams: Moral or immoral government

19 Facts About The Deindustrialization Of America That Will Blow Your Mind

    This disturbing report is being widely circulated on the Internet and via email. It appears that the Economic Collapse Blog may be the source of the information. If any readers learn otherwise, please let us know.  Here is an excerpt: ”Tens of thousands of factories have left the United States in the past decade alone. Millions upon millions of manufacturing jobs have been lost in the same time period. The United States has become a nation that consumes everything in sight and yet produces increasingly little . . . The following are 19 facts about the deindustrialization of America that will blow your mind….”


  • Posted: 12/06/2010
  • |
  • Category: Miscellaneous

  • Tags: ,

Why Do We Have a Central Bank?

Fed up with the Fed

Strong showing in anti-earmark vote

Obama proposes pay freeze for federal workers

Obama should cut the corporate tax rate

Gloom, anger spreads as European economies teeter

China, Russia quit dollar

Kerala, India: Islamic bank is set up on secular principles of Shariat

Who created teacher unions?

Nobel Peace Prize case study: China’s growing power threatens liberty

Bernanke takes aim at China

Low-tax states will gain seats, high-tax union states will lose them

Advisory panel urges action on Chinese currency

Ron Paul’s golden opportunity

    Seth Lipsky writing in the Wall Street Journal [full text via Google News]: “One of the most exciting features of the new Congress is the prospect that the chairmanship of a House subcommittee that oversees the Federal Reserve will go to Ron Paul. Final assignments are still being worked out, and the leadership may yet shy away from giving the position to a congressman who doesn’t believe the Fed should exist. But Dr. Paul, an obstetrician, has been the ranking Republican of the Domestic Monetary Policy and Technology subcommittee, and tradition suggests he will be the next chairman.”


  • Posted: 11/17/2010
  • |
  • Category: Miscellaneous

  • Tags: , ,

Senate Dems defend earmarks as GOP votes to ban practice