Time And Reality Are Rhode Island’s Deadly Enemies
Time waits for no one, no favours has he Time waits for no one, and he won’t wait for me – The Rolling Stones (HT:Sing365.com) If mathematics were as linear as the passage of time, Rhode Island would have a public pension inconvenience. This sadly does not hold true. Interest on borrowed money increases debt in an exponential fashion. The promises made to older working | Read More »
NY Times on Natural Gas: Ponzi Scheme, Pandora’s Box, or Rubik’s Cube?
The New York Times descends even deeper into self-parody with its ongoing crusade against natural gas development. Thursday’s installment: Rush to Drill for Natural Gas Creates Conflicts With Mortgages It seems that some mortgage lenders are beginning to balk at lending money secured by real estate if said real estate is under development for natural gas. A credit union in upstate New York has started | Read More »
The Simple Math of Obama’s Ponzi Scheme
Well, 32 months into his presidency, Obama has finally released his jobs and deficit reduction plans. Surprisingly, he is not attempting to obfuscate his true motivation this time. As Obama said yesterday, it is “simple math.” It’s $1.57 trillion in comprehensive tax hikes + $1.08 trillion in non-existent war spending + $430 billion in phantom savings on interest payments + $320 billion in savings from | Read More »
MITT ROMNEY’S Social Security blunder.
You’ve probably read by now Mitt Romney adviser Stuart Stevens’ gleeful email to Ben Smith – and might I add that there is something unseemly about an ostensible Republican using Politico for what is essentially an internal debate? – crowing over Governor Rick Perry’s rather sensible observation that Social Security is a Ponzi scheme: He has lost. No federal candidate has ever won on the | Read More »