Chip Wood Archive
Chip Wood is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference. Email this author.
Another recession coming? The non-partisan Congressional Budget Office confirmed something I wrote about in Are You Ready For Taxmageddon. The CBO estimates that if the George W. Bush-era tax cuts aren’t renewed at the end of this year, our economy will contract by 1.3 percent in the first half of 2013. Gross domestic product is already pretty anemic, increasing just 2.2 percent for the first quarter of this year.
Labor losses are mounting. I mentioned in Wisconsin Vote Stuns The Left how membership in the American Federation of State, County and Municipal Employees plummeted in Wisconsin once the State stopped taking union dues from their paychecks. But it turns out that union support is declining in other States as well. The Wall Street Journal reported: “In the 12 months ended in February, Ohio’s membership fell 8.5%, Pennsylvania’s dropped 3.4% and Michigan’s declined 11.7%.” Look for union clout to continue to decline as more and more States challenge their power and more and more members decline to pay their dues.
Is it my imagination, or are things starting to get a bit testy between the most popular former Democratic President in America, Bill Clinton, and the current occupant of the White House? Last week, Republican pundit Dick Morris said: “Bill Clinton does not want Barack Obama to win.”
It’s been amusing to hear all the liberal talking heads on TV trying to claim that Tuesday’s vote in Wisconsin was no big deal. My friends, it was a very big deal indeed. In fact, it just may mark the beginning of the end of union power in this country.
No fair purging the voter rolls. Officials in Florida believe that as many as 182,000 non-citizens may be on the voter rolls in the Sunshine State. So Republican Governor Rick Scott ordered election officials to identify any ineligible names and purge them from the list. Now, however, the U.S. Department of Justice has ordered the process stopped. It says it must approve in advance any changes in voter-registration procedures. The Feds can’t allow any discrimination regarding who gets to vote — especially with major elections coming up in a few months.
Wowee, some folks are sure angry that Eduardo Saverin, one of the co-founders of Facebook, decided to unfriend the country that helped make him a billionaire. In response, two Senators introduced the Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy (or Ex-PATRIOT) Act.
More people join the ‘anybody but Barack Obama’ club. It was no surprise that Mitt Romney won the Republican primaries in Arkansas and Kentucky last week. But did you hear what happened on the Democratic side? Forty-two percent of the voters in the Democratic primaries in those two States voted against the incumbent President. In Kentucky, where there wasn’t even an opponent on the ballot, Democrats selected “uncommitted.” That’s almost as embarrassing as what happened in West Virginia, where 41 percent of Democratic voters chose a prison inmate rather than our current President.
Thanks a lot, Congress. It looks like you’ve really stuck it to us again. This time, just sitting on your hands and doing nothing is going to cause the biggest tax increase in our Nation’s history. Taxmageddon will come from tax cuts expiring and new tax increases taking effect because of Obamacare.
Losing North Carolina? In last week’s column Barack Obama’s Really Bad Day, I discussed how Obama’s endorsement of same-sex marriage could hurt him in North Carolina — a State he carried by a razor-thin margin in 2008. The latest Rasmussen poll says it’s already happening; Mitt Romney has taken a decisive 51 percent to 43 percent lead over the President in the Tar Heel State. Adding to the Democrats’ woes, several gay-rights groups are demanding that that they move their national convention to another State to punish North Carolinians for supporting an amendment to the State constitution declaring marriage as a union of one man and one woman.
Where have all the workers gone? If you don’t have a job, but you’re no longer looking for work, guess what? You’re not counted among the unemployed. The Washington Post reports that if the same percentage of adults were in the workforce now as when Barack Obama took office, the unemployment rate would be 11.1 percent. While if you go back to when George W. Bush was sworn in, the unemployment rate would be 13.1 percent. I guess this means that if everyone stopped looking for work, Obama could claim the unemployment rate was 0.