Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Category Archives: History

The IMF threatens a dangerous “wealth tax” proposal

The populist notion of taxing the rich once again turned up in the International Monetary Fund’s “Fiscal Monitor Report” released in October, but scarcely anyone noticed. In an arcane chart-laden 107-page long report that was competing at the time with the government shutdown, the failing rollout of Obamacare, and other concerns, crises and disasters, why would they?

Here’s why.

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The US economy is vastly larger than we know

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, December 4th, 2013:

For the past 25 years, Austrian school economist Mark Skousen, nephew of W. Cleon Skousen (author of The 5000 Year Leap), has been trying to get the Bureau of Economic Analysis (BEA) to count the rest of the economy that the GDP doesn’t measure. In April, the BEA will start reporting the GO

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Judge declares Detroit bankrupt, gives OK to cut pensions and burn creditors

In the opening to his hour-long statement to a packed courthouse on Tuesday, federal bankruptcy court Judge Steven Rhodes said:

It is indeed a momentous day. We have here a judicial finding that this once proud and prosperous city can’t pay its debts. It’s insolvent.

It’s eligible for bankruptcy. At the same time it has an opportunity for a fresh start.

He reeled off the list of problems the city is facing:

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White House Thanksgiving Day reminder: Let’s all be like Lucy

Last Tuesday the White House issued a Thanksgiving Day reminder: “The Supplemental Nutrition Assistance Program (SNAP) helps millions of Americans put food on the table.” Then began a litany of statistics and charts along with explanations of how wonderful SNAP is, even getting in a dig at those selfish “House Republicans [who] would cause nearly 4 million Americans to lose access to SNAP next year.”

Harold Maass, writing at the liberal TheWeek.com blog, explained all the reasons why conservatives hate food stamps:

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The Implosion of the Social Security Disability Ponzi Scheme Accelerates

Fresh data just released by the trustees of the Social Security Administration show that the number of people receiving benefits from the Disability Insurance Trust Fund has exploded over the last five years, reducing the surplus in that fund from $216 billion in 2008 to just over $100 billion in 2013. There were 7.4 million recipients in January 2009, but as of October 2013, there are nearly 9 million beneficiaries, not including

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Credit rating agencies downgrade Chicago debt, again

The day after the Illinois state legislature adjourned without dealing with the state’s $100 billion crisis, on Friday, November 8th Fitch Ratings downgraded $8.5 billion of Chicago’s bonds as well as its outlook for future downgrades as “negative.” Said Fitch: “The city has been unsuccessful in its attempts to negotiate a solution with labor unions [or with] the state legislature, which ultimately controls the benefit formulas [of the state’s pension plans].” This is the second downgrade by Fitch since July,

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Former Treasury Secretary Geithner to head up private equity firm Warburg Pincus

Former Treasury Secretary Timothy Geithner announced his plans to join the Wall Street private equity firm Warburg Pincus in March 2014 where he will serve as president and managing director.

Geithner is the proto-typical insider with establishment ties that follow almost exactly

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Drug Cartel Is Being Pushed Back by Fuerzas Autodefenses – Self-Defense Forces – In Mexico

This article was first published at The McAlvany Intelligence Advisor on Wednesday, November 13th, 2013:

 

For Hipolito Mora, the owner of a lime plantation in Michoacán, one of Mexico’s 32 states, the final straw was the refusal of a packing company to buy his fruit because he wouldn’t pay a 10% kickback to the drug cartel that owned it. For Miguel Patino Velaquez, it was the sight of others in his town taking up arms and joining forces to fight the cartel. For Leticia, a lime picker, her tipping point came when she and her two children witnessed the

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The “Stadium Wave” Explains Flat Temperatures for the Past 15 Years

This article first appeared at The McAlvany Intelligence Advisor on Friday, November 8th, 2013:

Judith Curry’s explanation as to why global temperatures have not changed for the past 15 years makes too much sense, so the global climate-changers are scrambling to find other causes.

Curry is the head of Georgia Tech’s Department of Earth and Atmospheric Sciences, and in her press release she explained the climate-changers’ predicament:

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“Stadium Wave” Phenomenon Defeats Climate-changers’ Claims

In its press release, Georgia Tech announced that stadium waves, similar to those seen and enjoyed by fans at football games, may provide a much better explanation for the “hiatus” or interruption in global temperature increases than those promoted elsewhere:

The stadium wave hypothesis provides a

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The Bubble in the Caribbean: Puerto Rico

This article was first published at The McAlvany Intelligence Advisor on Wednesday, October 30, 2013:

The complacency of municipal bond holders ended in July with the filing for bankruptcy by Detroit, an unhappy town of just 700,000 owing more than $18 billion to investors. Haircuts there have variously been estimated to be between 15 and 60 percent.

Since then, those holders have been looking around to find the next shoe to fall, and they have found it:

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Even Lower Gas Prices are Coming, says CNBC

On Friday Anthony Grisanti was jubilant. Writing for CNBC, he predicted that gas prices, down significantly from where they were in April, would continue to slide by at least another 10 cents per gallon, perhaps more. That would bring the average price, currently at $3.29 a gallon, closer to

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Why are Puerto Rico’s Bond Prices Falling?

Despite the fact that Puerto Rican (PR) municipal bonds are triple-tax-exempt (no federal, state or local income taxes apply on their interest), those interest rates have skyrocketed since the Detroit bankruptcy first ended the complacency among municipal bond investors in July. High quality municipal bonds are paying little more than 1 percent annually but PR bonds, even though they remain investment grade (barely), have spiked

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Chevron Charges Opposing Attorney with Greenmail in Landmark Lawsuit

After nearly 20 years of defending itself against charges that its drilling operations in the Amazon jungle in Ecuador caused all manner of environmental damage, pollution and disruption and dissolution of the cultures of the natives in the area, Chevron Corporation finally decided to go on the offensive. On Tuesday, October 22nd, Chevron, the eleventh largest corporation in Fortune magazine’s Global 500, sued Steven Donziger, the leading attorney in a series of lawsuits going back to 1993, for fraud and bribery used to

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Progressivism’s Proof: American Indian Poverty

Any man who thinks he can be happy and prosperous by letting the government take care of him, better take a close look at the American Indian.    – Henry Ford

Using their portable forge, members of Lewis and Clark’s Corps of Discovery fabricated various iron implements and traded them to the Mandan and Hidatsa Indian tribes in what is now North Dakota, in exchange for corn, beans, squash and tobacco to sustain them during the winter of 1804-5. Several months and a thousand miles later the Corps was surprised to see that one of their implements, an axe,

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JP Morgan Buying its Way Out of Legal Troubles

The announcement that a tentative agreement had been reached between the Department of Justice and JPMorgan (JPM) was surprising only in the size of the penalty the country’s largest bank (and second largest in the world) agreed to pay:

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There is no Debt Ceiling in place under the new Law

A closer look at what actually passed late Wednesday night reveals that the limit on the national debt wasn’t raised, it was eliminated altogether, at least until February 7th. What actually happened is that

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Tea Party Accepts Challenge from Obama to “Win an Election!”

The president couldn’t resist spiking the ball after scoring his “keep the status quo” touchdown earlier this week in his remarks on Thursday:

You don’t like a particular policy or a particular president, then argue for your position. Go out there and win an election!

That is exactly what conservative challengers are doing to those perceived to have

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US oil output is up 25 percent from just one year ago

If the increase in US oil output continues to increase by 25% every year, as it did from September 2012 to September 2013, total US output would double every three years. It’s a simple case of mathematics, compound interest, and the Rule of 72.

The main thing working to keep that from happening is

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Surprise! Obama turns on the Liberal Press that Helped Elect Him

This article was first published by The McAlvany Intelligence Advisor on Monday, October 14th, 2013:

In a greatly underreported study, a group supposedly gathered to protect the “integrity” of the press and to “defend the right of journalists to report the news without fear of reprisal” has just discovered the obvious:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.

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