US Action News

Teleprompter in Chief will have a sit down with the nation at 11:10 am and in the latest sermon from the White House mound, will “confront” oil speculators once and for all. – Zero Hedge

The United States once had the largest and most vibrant middle class in the history of the world, but now the middle class is rapidly shrinking and government dependence is at an all-time high. So why is this happening?

Right-to-work states have generally lower unemployment, higher job growth, lower taxes and better business climates. They have growing populations and have been attracting businesses from other states.

Studies show that historically, around 90% of US recessions post World War II were preceded by oil price shocks. The most recent occurrence took place when oil more than doubled in price from January 2007 to July 2008 due to a sharp increase in Chinese demand. The pullback of US consumer and corporate spending already put a drag on economic growth before the subprime-induced financial crisis closed the deal on the Great Recession.

The Bolshevik leader told the Russian people everybody would be able to afford going to the doctor, not just the “greedy rich.” He also claimed centralized control of the medical industry would “reduce costs” and end the “waste” from “unnecessary duplication and parallelism” in a competitive market. – IBD Editorials

Spain is suffering from a deep economic slump brought about by a bust in its property and construction markets. Unemployment is the highest in Europe, with a record 4.75 million out of work. Half of Spain’s under-25s are unemployed. – BBC News

Wind, solar, algae and switchgrass companies take billions in Other People’s Money. They pay virtually no taxes, and provide virtually no usable energy, except in the minds and press releases of their promoters.

Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends. Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced.

President Obama’s blather about “fairness” is straight out of Karl Marx’s “Das Kapital” and the Communist Manifesto with their emphasis the redistribution of wealth and the end of private property.

I worry because of the increasing power that national governments wield in the mature economies of the world. Applied power eventually leads to serfdom. Increasing taxation is a characteristic of a declining great power.