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Tag Archives: federal government

“$1MM Per Minute In Salaries, $22BN Per Year In Vacation Pay” And Other Fun Facts About The Federal Workforce

The folks at Open The Books decided to take a deep dive into the salaries of 1.97 million federal employees, using data collected from the Office Of Personnel Management and the USPS via FOIA requests, and the endless examples of excessive pay and pure waste are sure to make you sick, if not downright suicidal.  Here are just some of the key takeaways as summarized by OTB: 1. The federal government pays its disclosed workforce $1 million per minute, $66 million per hour, and $524...

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Ron Paul Blasts Congress’ Political And Personal Immorality

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, Many Americans have been shocked by recent revelations of the extent of sexual harassment in Congress. However, no one should be too surprised that those who spend their lives defending and expanding the welfare-warfare state engage in immoral personal conduct. It is only natural that an immoral system, like the welfare-warfare state, tends to attract individuals likely to practice personal immorality. The...

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If Bitcoin Is A Bubble…

Authored by Erik Norland via CMEGroup.com, Our earlier articles on bitcoin discuss the crypto asset as a currency and a commodity. Both papers focused on the consequences of bitcoin’s defining feature: the asymptotic supply limit of 21 million coins. This gives it an unusual juxtaposition of demand uncertainty and supply certainty (as well as inelasticity). As a currency, it gives rise to a tension between its use as a store of value and as medium of exchange. Like commodities, it...

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House Passes Temporary Funding To Operate Through January 19

Update: Right before ending the session and heading off for a well-deserved holiday, the House passed an $81 billion disaster-relief package in a 251-169 vote. The bill was surprisingly controversial - in part due to the enormous sum being authorized. According to Politico, the fate of the aid package is far from assured in the Senate, which means there's a possibility that Congress waits until early next year to finally pass the badly needed funding relief. Democratic leaders in both...

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U.S. Border Crossings Have Become Authoritarian Testing Grounds

Authored by Mike Krieger via Liberty Blitzkrieg blog, Last week, my brother and his longterm girlfriend entered these United States at JFK international airport in New York City. She’s a Chinese citizen with a tourist (B1/B2 visa), which leads to many restrictions on when she’s allowed to enter and for how long. They are always meticulous about playing everything exactly by the book, and this time was no different. The only unusual thing about this latest episode is his...

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House Must Vote Again On Tax-Reform Plan After Procedural Snag

In an embarassing reversal of what House Republicans had celebrated as a done deal, the House will need to vote again on the final version of the tax reform plan passed earlier this afternoon. The second vote is the result of a technicality in one of the bill's provisions. According to Bloomberg, the Senate parliamentarian found three provisions in the final bill that violate the Byrd Rule, and the Senate will have to strip them from the bill before passing it, according to Bernie...

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Yellen’s Big Goodbye (And What She’s Leaving Behind)

Authored by Kevin Muir via The Macro Tourist blog, The past three Fed Chairs before Yellen all had their own crisis to deal with. Volcker had the disaster of the early 1980’s as he struggled to tame inflation with double digit interest rates. That helped contribute to the Latin American debt crisis, and the subsequent global bear markets in stocks. He handed over the reins to Greenspan in the summer of ‘87 and within months, the new Fed Chairman faced the largest stock market...

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These 8 Places Around The World Are Actively Preparing For Nuclear War

Authored by Daisy Luther via The Organic Prepper blog, Everywhere, it seems like officials are actively preparing for the possibility of nuclear war. Tensions are high in practically every corner of the world but somehow, despite the proliferation of imminent threats, many people are still blithely unaware of the hell that could be unleashed. Due to tensions between the US and North Korea, the world is frantically preparing for the possibility of a nuclear attack. The US, China, Russia,...

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How “Ghost Collateral” And “Yin-Yang” Property Deals Will Collapse China’s Credit Bubble

One lesson from the 2007-08 crisis was that the vast majority of financial market participants, never mind the general public, were unfamiliar with subprime mortgages until the crisis was underway. Even now, we doubt many have much understanding of repo, the divergence between LIBOR and Fed Funds from 9 August 2007 and Eurodollar liquidity. In a similar way, when China’s bubble bursts, we doubt the majority will be that familiar with “ghost collateral” and...

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Government Shutdown Looms Amid Clash Over “Dreamers” Fate

In an announcement that will provide some measure of relief for T-bill traders and others who are skeptical about Republican lawmakers' ability to compromise with their Democratic colleagues, the Republican House leadership said Tuesday they would bring a stopgap bill to extend funding at its current levels - and preserve funding for a popular child health-care program - until Dec. 22. Otherwise, the current continuing resolution would expire on Friday, tilting the federal government into...

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