Authored by Nick Giambruno via InternationalMan.com,
Politicians are always generous with other people’s money… until it runs out.
Near the peak of the late-’90s tech bubble, California’s legislature passed the largest pension increase in its history.
Today, with as much as $750 billion in unfunded public pension debt, California has one of the worst pension situations in the country. But it’s far from alone.
Kim Jong Un is once again showing the US exactly how disinterested he is in negotiating any settlement - particularly one that ultimately forces North Korea to surrender its nuclear weapons: To wit, Kim ordered more rockets and warheads during a televised visit to a local munitions factory just hours after Secretary of Defense James Mattis praised Kim’s “restraint” for not having launched any new missile strikes since the latest round of UN sanctions took effect on Aug. 5. Mattis also reiterated that the Trump administration would be open to talks.
"Everybody has a plan...until they get punched in the face."
-Mike Tyson
Paul Alster has an interesting story this month in The Jerusalem Post. It begins by informing us that...
"A fierce battle is being waged in the north of Israel."
Then goes on to say...
Over the weekend, Morgan Stanley reminded its clients that the biggest threat facing markets over the coming weeks is the “three-headed policy monster” inside Washington: raising the debt ceiling, passing a budget and embarking on tax reform. As MS cross-asset strategist Andrew Sheets noted, "none are easy, but we see the debt ceiling as the most immediate test."
How We Know The So-Called “Civil War” Was Not Over Slavery
Paul Craig Roberts
When I read Professor Thomas DiLorenzo’s article ( http://www.paulcraigroberts.org/2017/08/21/lincoln-myth-ideological-cornerstone-america-empire/ ) the question that lept to mind was, “How come the South is said to have fought for slavery when the North wasn’t fighting against slavery?”