US Action News

[Light rail] is a giant hoax perpetrated on the taxpayers of Detroit and the United States. Light rail’s big selling point, that it promotes urban revitalization, is also a Big Lie.

If Obama had spent less time seeking out Marxist professors in college he might have learned some basic economics.

Schiff picks apart the President’s ignorance of history, economics, and general cluelessness on all things having to do with jobs and economy.

No “immediate” crash of the Euro. Where will the trillions come from? UK says no.

Who was the last person to actually cut government? Who was the last person who actually led a movement that balanced the federal budget? Who was the person that did that? (humming Jeopardy! theme) You’re not gonna take a guess? (interruption) That’s right, it was Mr. Newt! He was the last guy who gave us a balanced budget. Now, there are a lot of other Republicans involved — Kasich was key and a lot of others — but Gingrich was […]

Over the past three decades, government debt, business debt and household debt have absolutely exploded, but our assets have not. That means that we are getting poorer as a nation. By Michael T. Snyder How do you decide whether you are wealthy or not? Do you determine that by how much money you spend at the stores? Of course not. You can tell if you are wealthy or not by comparing your assets (the money in your bank account, equity […]

Over the past three decades, government debt, business debt and household debt have absolutely exploded, but our assets have not. That means that we are getting poorer as a nation.

There are legal restrictions that make hiring and firing a litigator’s paradise. There are high payroll taxes that vastly increase the cost of new works. There are minimum wage laws, labor union privileges and “child” labor laws that cartelize the workplace to benefit the few at the expense of the many. By Jeffrey Tucker at Whiskey & Gunpowder There was a brief moment of joy at the news that retailers hired 206,000 new people in November. But only one day […]

We’ve allowed a “cradle to the grave” entitlement society! 144 million in the US pay no taxes and are supported by the rest of us. Under Reagan only 19% of households paid no taxes, under Clinton it rose to 25%, under Bush to 30% and under Obama went up over 50% to 47% of households not paying taxes. The Marxists are winning and America is going bankrupt. Detroit “is a graveyard of socialism in America” Obama bragged of his support […]

When there are more losses, and there will be, the only way to guarantee banks do not take them, is to have someone else take them, namely taxpayers. By Mike “Mish” Shedlock at Mish’s Global Economic Trend Analysis If French president Nicolas Sarkozy gets his wish to “Level the Playing Field” on sovereign bonds, a decade-long European recession is on its way. French President Nicolas Sarkozy made it clear in a speech in Toulon last week that he wanted the […]