Revolt Over High Fuel Prices Threatens to Paralyse France

Anti-riot policemen evacuate gilets jaunes protesters during a protest against the raising of fuel and oil prices. Photograph: Philippe Huguen/AFP/Getty Images

Anti-riot policemen evacuate gilets jaunes protesters during a protest against the raising of fuel and oil prices. Photograph: Philippe Huguen/AFP/Getty Images

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Yet Another Trillion-Dollar Unfunded Liability, California Wildfires Edition

By John Rubino – Re-Blogged From Dollar Collapse

Yesterday an entire California town burned down. Paridise, CA has (had) 27,000 residents and over 1,000 buildings, and now it’s pretty .

That fire and several others are still expanding across the state, threatening tens of thousands of homes. The sets of the TV show WestWorld are gone. Malibu has been evacuated. And dry, windy conditions persist, so the story is nowhere near over.

If this sounds familiar, it’s because massive, sometimes uncontrollable California wildfires are now an annual occurrence, due in part to gradual warming and persistent drought which combine to suck the moisture out of vegetation and turn the landscape into a tinderbox. Here’s a chart showing the recent take-off in the number of fires reported in the state (2013 was most recent year I could find, but the trend is clear – and since then the number of fires has apparently soared).

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Does Gold Speak Italian?

By Arkadiusz Sieron – Re-Blogged From Gold Eagle

Is Italy the new Greece? Read today’s article and find out what does the newest Italian turmoil imply for the gold market.

The recent days have been quite tumultuous in Italy. The turmoil started last week when the new government submitted its spending plans to the EU. The ruling coalition set Italy’s budget deficit at 2.4 percent of its GDP. The number is much higher than the current deficit which is set to be 1.5 percent of the GDP. The proposed difference between spending and revenue is also higher than 1.6 percent proposed by the country’s finance minister Giovanni Tria. So the number was above the expectations. Actually, it came as a shock, especially that the International Monetary Fund has projected it to fall to 0.9 per cent in 2019. Well, nobody expected the Italian inquisition.

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Universal Basic Income For Everyone!

By Gary Christenson – Re-Blogged From Silver Phoenix

Several countries and cities studied and tested a universal basic income (UBI). At first glance it looks like giveaway nonsense:

  1. Who pays for the giveaways?
  2. Does the UBI discourage work and self-improvement?
  3. How much price inflation does it create?
  4. How much additional unpayable debt will be created by the UBI?
  5. The UBI should be how large? If $1,000 per month per person is good, is $10,000 per month better? Which bureaucrat defines the size of the benefit?
  6. Does it apply to everyone? Adults only? Means tested? Only those who voted and paid taxes? Only those in good standing with the “thought police?”

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Federal Deficits Are Worse Than You Think

By Mark Brandly – Re-Blogged From Silver Phoenix

Pensions – A Stealth Mortgage On Your House

By John Rubino – Re-Blogged From http://www.Silver-Phoenix500.com

Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting – and highly concerning – new angle: That they impose a “stealth mortgage” on homeowners. Here’s how the Wall Street Journal reported it today:

The Stealth Pension Mortgage on Your House

Most cities, counties and states have committed taxpayers to significant future unfunded spending. This mostly takes the form of pension and postretirement health-care obligations for public employees, a burden that averages $75,000 per household but exceeds $100,000 per household in some states. Many states protect public pensions in their constitutions, meaning they cannot be renegotiated. Future pension obligations simply must be paid, either through higher taxes or cuts to public services.

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Ocasio-Cortez Supporters Give Jaw-Dropping Answers When Asked How We’ll Pay For ‘All That Free Stuff’

By Julio Rosas – Re-Blogged From IJR

With congressional candidate and self-proclaimed democratic socialist Alexandria Ocasio-Cortez making big promises to voters, Campus Reform visited the district she’s running in to ask how taxpayers will pay for them.

According to her campaign website, Ocasio-Cortez wants a medicare for all plan, a federal jobs guarantee with a $15 minimum wage and tuition-free public colleges.

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