There is nothing like the threat of insolvency and a downgrade to junk bond status to motivate traditionally liberal politicians to abandon the environmentalists who heavily fund their campaigns. Last week, Governor Jerry Brown of California tossed one of his
In a stunning development, President-elect Enrique Peña and his Institutional Revolutionary Party (PRI), who won control of Mexico’s government on July 1st, moved to dissolve the Agencia Federal de Investigación (AFI). Modeled after the United States FBI, the AFI was
The State of California was already facing a $19 billion budget deficit, shorted public schools $8 billion, and was set to release imprisoned rapists into “community probation” when the Legislature approved selling $4.6 billion in new state bonds to build
Conservatives should be ecstatic that Supreme Court Chief Justice John Roberts sided with the four liberal Justices ruling the Affordable Care Act (Obamacare) is constitutional as a tax, while siding with the four conservative Justices that the law is unconstitutional
Barack Obama’s Executive Order to suspend deportations of illegal aliens for two years will act as a magnet to motivate millions of people from around the world to come to the United States and claim they have been quietly living
The populist movement sweeping the world is a direct threat to China as globalization’s biggest winner. A rebellious tone has swept the world with the Arab Spring, Socialist victories in France and Greece, Argentina nationalizing oil assets, Indonesia imposing a
If there was an Academy of Motion Picture Arts and Sciences Award for the best acting performance by a CEO, Jamie Dimon of J.P. Morgan Bank would surely win the Oscar for his dismissal of a $2 billion off-shore derivative
“Only Nixon could go to China” is a political metaphor referring to the ability of a politician with an unassailable reputation among his supporters for staunchly representing and defending their values, to take actions that would draw vicious criticism and
Big Labor is about to be thrashed in the Wisconsin Primary election today, as rank and file Democrats refuse to be dominated by Big Labor Money. After national and local unions spent $35 million in the losing effort in 2010
The ballooning Orange County financial crisis continued its downward spiral as the State of California filed a lawsuit to force return of $73.5 million of property tax revenue the County skimmed from local schools and community colleges last November. It
With the recent revelation that the ultimate Washington insider, Jon Corzine, appears to have ordered the looting of hundreds of millions of dollars from customers at commodity broker MF Global, you would think crony capitalists would try to keep a
The “Drill, baby, drill!” mantra of the 2008 Republican National Convention was cynically answered by Barack Obama supporters at the Democratic Convention with: “You can’t drill your way out of the problem.” To address what President Obama called the worst
State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., ‘I have found it’. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to
America and Iran have been involved in a covert war for many years over Iran’s efforts to geopolitically dominate the Middle East. Fearing the political and financial costs of sustaining protracted military actions against Iran, the Obama Administration has cranked
With America on the verge of achieving energy independence in the next five years by dramatically expanding domestic energy production, why should anyone be surprised that it’s Big Oil money that’s out to kill the Keystone XL Pipeline to prevent
Just over a week ago in an article I published here in Big Government: “New California Budget Crisis May Torpedo November Tax Increase Initiative.” The article illuminated how State Controller John Chaing had shocked California’s spendthrift politicians by announcing the
This year marks the twenty-fifth anniversary of the United Nation’s Brundtland Report, which defined Sustainable Development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” But aristocratic socialists
State Controller John shocked California legislators this week when he sent a letter announcing that the State will run out of cash on March 8th without the legislature agreeing to allow the State Treasurer to delay $2.4 billion in payments
Four months ago, when I published the article “Nature Journal Discredits Global Warming” at Big Government stating that the Nature Journal of Science, ranked as the world’s most cited scientific periodical, had published the “definitive study” rebuking Anthropogenic (man-made) Global
Four months ago, when I published the article “Nature Journal Discredits Global Warming” in Big Government stating that the Nature Journal of Science, ranked as the world’s most cited scientific periodical, had published the “definitive study” rebuking Anthropogenic (man-made) Global
Public officials are scrambling in the wake of the Supreme Court’s decision in California Redevelopment Agency vs. Matosantos to react to their loss of tax-increment financed redevelopment, which served as their piggy-bank under the Community Redevelopment Law for the past
Iceland is side-stepping Europe’s plummet into a deep recession or depression by following the true capitalist’s model of allowing its insolvent banks to fail and go bankrupt. With less than two years of pain and suffering, Iceland is emerging as
In the face of strong national consumer spending and private sector employment gains, State Controller John Chiang released California’s December financial statement showing the General Fund is running a staggering cash deficit of $21 billion on an $88.5 billion budget.
LAST CALIFORNIA COMPANY TO LEAVE, TURNS OUT THE LIGHTSIn the face of strong national consumer spending and private sector employment gains, State Controller John Chaing released California’s December’s financial statement showing the General Fund is running a staggering cash deficit
With the citizens of the Europe and America groaning at the thought of spending the rest of their lives as debt-slaves to pay for failed government stimulus spending, it is understandable that the Left elites are now trying to rewrite
Jon Coupal, President of the Howard Jarvis Taxpayers Association, has come out with a powerful call to arms in opposition to half dozen ballot initiatives funded by billionaire California crony capitalists, designed to raise taxes and often feather their own
Presidential Candidate Ron Paul’s growing libertarian movement within the Republican Party is causing a high degree of angst among American liberals, who historically deflected any criticism of their crony capitalism by attacking Republicans as sycophants for the “American empire and
China is suffering a brutal economic “hard landing” as the pay-back for their massive Keynesian stimulus spending to revive economy growth after the 2008 credit crisis. China’s stimulus bought two years of economic boom, but the cost of this instant
Europe’s Left elites championed the introduction of the euro to “increase political cohesion” by building on the “cultural, religious and humanist inheritance of Europe”. But according to Evans-Ambrose Pritchard of the London Telegraph, as a result of that cohesion “almost
The European Sovereign Debt Crisis that morphed into the European Banking Crisis is about to morph into a powerful worldwide deflationary spiral. The bankruptcy of MF Global, a former primary dealer for the U.S. Federal Reserve, has propelled a growing
With the rise of Ron Paul in the Presidential Primary polls; America may be ready to crush crony capitalists by embracing “libertarianism.” As the founding philosophy that once unified our nation; today libertarianism represents the true existential threat to the
A study issued by the Public Policy Institute of California (PPIC), a non-partisan think-tank, just confirmed that during the 2009-2010 recessions, every income bracket in California lost income faster than the rest of the United States. But even more disturbing,
Harbinger Capital Partners LLC hedge fund just acknowledged its highly political founder Phillip Falcone and other key executives have received “Wells Notices”. Such communications are normally sent by the Securities & Exchange Commission to a target for fraud just before
In a stunning worldwide move, the U.S. Federal Reserve in coordination with the European Central Bank, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Swiss National Bank and China’s Monetary Authority agreed to temporarily “dollarize” the
The Obama Administration kicked off its highly touted “Return to Asia” tour last week by threatening Chinese President Hu Jintao that Americans are growing “impatient and frustrated” over China’s currency and trade policies that are hurting U.S. employment and Mr.
I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then
When Ronald Reagan was elected the 40th President of the United States the competition between nation states was defined along the political terms of communism, democracy, and fascism. But Reagan sought to redefine nation state competition in terms of the
Over the last five months the strength of the United States economy has surprised on the up-side. America posted its strongest quarterly economic growth since the end of 2006 and U.S. corporate profits hit an all-time record high. But with
Orange County, California is often referred to as the “Most Conservative County in America”. But County Supervisors have made a mockery of that title by increasing spending by $145.8 million, in a year of lower property tax collection. Now that
Social liberals are extremely frustrated that the “worker’s paradise” that seemed so near three years ago, is fast slipping away due to voter rejection. With the huge borrowing and spending stimulus failing to revitalize the economy, social liberals took to