India Raises Gold Import Tax Yet Again
Unlike the average American, Indians are more keenly aware of what is going on with the global economy. They see their own currency falling and they are racing to hard assets like physical gold and silver. The Indian government, to curb the tide of private physical gold ownership, have increased the gold import tax from 8 to 10%. Duties on silver imports were also increased from 6% to 10%. Desperation is definitely setting in over there while many are distracted as to why Harry Potter fans hate George Bush.
Bloomberg laid the blame for the Detroit bankruptcy at the feet of workers and retirees of the city. In addition, other major city officials see what happened to Detroit, and what is happening to their own city, and are looking for a way to avoid responsibility for their own city’s fiscal situation.
10 Year Yield Jumps
The 10 year Treasury bond yield went above 2.8%. As the interest rates continue to go up, it will be more exceedingly difficult to service the national debt; therefore, keep a close eye on this value.
Obamacare Part-Time Jobs
The mainstream media can no longer ignore the part-time job effect that Obamacare has created. Of the 953,000 jobs created in 2013, 77%, or 731,000, are part-time. Perhaps one of those few full-time workers were Obama’s golf caddy.
Congress routinely enacts changes to mandatory spending programs as part of its annual appropriations process. The Congressional Budget Office recognizes these changes as CHiMPS, or changes in mandatory program spending. To that end, Congress could defund Obamacare and kill it in its tracks if they had the guts.
Sebelius and The Race Card
Kathleen Sebelius has shown when facts get in the way of the implementation of Obamacare, it is time to bring out the race card. Yep, she said that those opposed to Obamacare are the same kind of racist people who opposed civil rights. With that, she has lost all credibility.
Food Stamp Paradise
Watch this video of a 29 year old food stamp recipient whose future plans consist entirely of surfing and partying. Until restrictions were removed, a single male could only get food stamps for three months out a three year period. That is no longer the case… This beach bum is sadly the picture of what will become of America.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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