Bernie Sanders doesn't know the difference between secured and unsecured debt...

Economic illiteracy.... 

You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?

— Bernie Sanders (@SenSanders) December 26, 2015

Bernie Sanders fails at economics (Socialist always do)

Scary: UN IPCC panel wants to cut economic growth to slow climate change...

Barack Obama and democrats support the UN IPCC.

Via Politico:

A United Nations science panel issued a sobering wake-up call to world policymakers Sunday, warning that countries must make dramatic changes in their energy consumption, their use of technology and even their ways of life to avert the catastrophic effects of climate change.

The only options that stand a chance of heading off the worst of the harm would require cutting at least slightly into economic growth in the coming decades, the Intergovernmental Panel on Climate Change said. Nations may even have to make ambitious attempts to remove carbon pollution from the atmosphere — not just limit how much comes out of smokestacks and tailpipes.

The highly anticipated report’s 37-page summary for policymakers doesn’t offer a precise dollar figure of how much all this will cost. But it warns that half-measures won’t cut it, and time is running out.

Obama finally has an economic plan: Americans should buy a "Thingamajig" (video)

 That's it? after 3.5 years he wants Americans to  buy a "Thingamajig?"

Educational Video: The European Fiscal Crisis and Lessons for America

If you can spare 7 minutes, they would be well spent watching this video. 

Via the Center for Freedom and Prosperity:



In case you don't have time to watch the video, here (via Ed Morrissey) are the 5 lessons from the European fiscal crisis.

1. Higher taxes lead to higher spending, not lower deficits. Miss Morandotti looks at the evidence from Europe and shows that politicians almost always claim that higher taxes will be used to reduce red ink, but the inevitable result is bigger government. This is a lesson that gullible Republicans need to learn – especially since some of them want to acquiesce to a tax hike as part of the “Supercommitee” negotiations.

2. A value-added tax would be a disaster. This was music to my ears since I have repeatedly warned that the statists won’t be able to impose a European-style welfare state in the United States without first imposing this European-style money machine for big government.

3. A welfare state cripples the human spirit. This was the point eloquently made by Hadley Heath of the Independent Women’s Forum in a recent video.

4. Nations reach a point of no return when the number of people mooching off government exceeds the number of people producing. Indeed, Miss Morandotti drew these two cartoons showing how the welfare state inevitably leads to fiscal collapse.

5. Bailouts don’t work. This also was a powerful lesson. Imagine how much better things would be in Europe if Greece never received an initial bailout. Much less money would have been flushed down the toilet and this tough-love approach would have sent a very positive message to nations such as Portugal, Italy, and Spain about the danger of continued excessive spending.

Home Depot Co-founder Bernie Marcus Slams Treasury Secretary Timothy Geithner (video)

Home Depot co-founder Bernie Marcus is humorous, knowledgeable and down to Earth in this CNBC interview. He thinks Democrats' policies are out of touch with the private sector.

“My solution is that you take a guy like Timothy Geithner and put him in a new reality show. It’s called 'Timothy Geithner Does Small Business', something like [the porn movie] 'Debbie Does Dallas', and it ends up the same way,” said Marcus. ”Basically, what they’re doing to small business is very similar in this case [to what ‘Debbie’ did to Dallas.]”

Here is why the stimulus has to fail in the long term

Here is a 3:31 minute economics lesson.


The Broken Window Fallacy

Obvious: Liberals Don't Understand Basic Economics

I once had a liberal college economics professor who claimed the deficit wasn't a problem. He claimed inflation would cause the deficit to become a smaller percentage of the economy. He believed that made deficit spending no long term problem. He was clearly wrong. If liberal economics professors don't understand how the economy works, how would average liberals score in understanding basic economics? Not very well, according to a Zogby Survey discussed in this WSJ opinion piece. The survey found self-identified liberals were pretty much clueless about basic economics. What ideological demographic scored the best? It was conservatives and libertarians.

Consider one of the economic propositions in the December 2008 poll: "Restrictions on housing development make housing less affordable." People were asked if they: 1) strongly agree; 2) somewhat agree; 3) somewhat disagree; 4) strongly disagree; 5) are not sure.....

In this case, percentage of conservatives answering incorrectly was 22.3%, very conservatives 17.6% and libertarians 15.7%. But the percentage of progressive/very liberals answering incorrectly was 67.6% and liberals 60.1%. The pattern was not an anomaly.