BY DR. MARK W. HENDRICKSON | FEBRUARY 29, 2012
A Whiff of Privatization
Three decades ago, Prime Minister Margaret Thatcher implemented a policy called “privatization” to rejuvenate the moribund economy of the United Kingdom.
Like the United States today, the cost of a too-large government was sapping the vitality of the U.K.’s economy. The private sector was staggering under the heavy tax burden needed to fund the public sector. In fact, despite very high tax rates, taxation could not keep up with government spending, so the Bank of England (the U.K.’s central bank) created more money (what we euphemistically call “quantitative easing” today) to make up the difference. Keep reading ...
BY mENCKEN'S GHOST | FEBRUARY 29, 2012
877,000 reasons why you can’t believe the media
What would you say if you discovered that the media had ignored 877,000 stories about a major cause of people losing their houses and money in the housing collapse and Great Recession? Would you say that the media can’t be trusted?
Well, start saying it. Keep reading ...