Free Republic

MSNBC’s James Woods-dubbed “media gnat” Ali Velshi continues to illustrate why socialist media talking heads know as much about sound economics as flat-earthers know about astrophysics. Velshi went on a rant against rich people and American capitalism during the August 23 edition of MSNBC’s Velshi, an irony since he has an estimated net worth of $5 million. He bellyached over a strawman notion that “America has been sold a myth” that the rich have been punished by a punitive tax system, when the “reality is economic policy hasn’t even remotely punished the elites in this country. It has simply rewarded...

The Federal Reserve Bank of New York released a troubling quarterly statement as the total household debt in the US increased by $185 billion in the past three months, up 1% from last quarter, when total household debt reached $18.9 trillion. Total household debt in the US now sits at $18.39 trillion. Housing debt increased 1.1% from April to June, now standing at $149 billion. Mortgage balances increased by $131 billion, notably the largest cause of household debt. Mortgage originations increased at a modest pace with $458 billion of debt added, while HELOC balances grew by $9 billion to $411...