on March 21st, 2013
One of the most foreboding items in the news this week was the threat that Cyprus banks were going to
confiscate personal savings tax those who have savings accounts from 6.75% up to 9.9% for the wealthiest. That would mean forking over nearly 10% of one’s savings to the government in an attempt to forestall an economic crisis. The last I heard, this has been avoided by a bailout from Russia at an interest rate lower than prevailing market rates. It’s no secret that Russian mobsters are an integral part of this bailout.
Although the threat didn’t materialize, it sent shock waves around the world. What if this would set a precedent? Would other nations on the brink of financial ruin turn to this solution? Would Americans someday see their banks getting a take on their personal savings? One normally thinks of putting money in a bank to earn more, not to have it taken away. The irony of the “solution” was not lost on some of the political cartoonists:
Unsound fiscal policies have become epidemic in nations from every sector of the globe. While a bullet may have been dodged this time, don’t expect this crisis to be the last. This scenario is going to become more prominent without a course correction.
on November 5th, 2011
How about a panoply of cartoonish insight on a variety of issues? Let’s start with that ever-present “movement” that’s occupying the airwaves. The nature of the movement is finally becoming obvious to almost everyone. Well, almost everyone:
Back in Congress, the so-called Super Committee is attempting to hammer out a deficit-reduction package. That should be easy. A small group certainly can accomplish more than the entire Congress, right? Right?
President Obama has been doing whatever he can via executive orders. Funny, I don’t remember reading anything about those in the Constitution. But he’s now going to reduce student loan paybacks by a whole $8 per month. And there will be forgiveness of those loans if they aren’t paid back in a certain number of years. Students should be elated, but don’t tell them the truth; it might damage their faith in the nanny-state:
Some people got very upset over a proposed $5 fee at the banks. Perhaps they should be upset over something more substantial:
How are you getting along with our new light bulbs? Are you like me, stocking up on the old ones? You might want to consider it.
And finally, there’s the ongoing illegal immigration quandary:
We can now add South Carolina to the list of states the Justice Department is suing for taking matters into their own hands. The past three years sure has brought change, hasn’t it?