The Poor

U2 Star Bono Admits Capitalism Brings More Out of Poverty than Government Aid

The State Causes the Poverty It Later Claims to Solve

Mises Daily: Saturday, December 07, 2013 by Andreas Marquart

If one looks at the current paper money system and its negative social and social-political effects, the question must arise: where are the protests by the supporters and protectors of social justice? Why don’t we hear calls to protest from politicians and social commentators, from the heads of social welfare agencies and leading religious leaders, who all promote the general welfare as their mission?
Presumably, the answer is that many have only a weak understanding of the role of money in an economy with a division of labor, and for that reason, the consequences of today’s paper money system are being widely overlooked.
The current system of fractional reserve banking and central banking stands in stark opposition to a market economy monetary regime in which the market participants could decide themselves, without state pressure or coercion, what money they want to use, and in which it would not be possible for anyone to expand the money supply because they simply choose to do so.
The expansion of the money supply, made possible through central banks and fractional reserve banking, is in reality what allows inflation, and thus, declining income in real terms. In The Theory of Money and Credit Ludwig von Mises wrote:

The most important of the causes of a diminution in the value of money of which we have to take account is an increase in the stock of money while the demand for it remains the same, or falls off, or, if it increases, at least increases less than the stock. ... A lower subjective valuation of money is then passed on from person to person because those who come into possession of an additional quantity of money are inclined to consent to pay higher prices than before.[1]

When there are price increases caused by an expansion of the money supply, the prices of various goods and

Census Updates Confirm that a Record 1 in 6 Americans is Living in Poverty

• Emily Hulsey
• On November 9, 2013
• http://IJReview.com

Recent updates to the 2010 census show that a record 49.7 million people across the country are living in poverty – that’s over 3 million more than was previously thought.
The updates come from a revised method of measuring poverty, which is supposed to be more accurate and inclusive:

Put in place two years ago by the Obama administration, it generally is considered more reliable by social scientists because it factors in living expenses as well as the effects of government aid, such as food stamps and tax credits.
Administration officials have declined to say whether the new measure eventually could replace the official poverty formula, which is used to allocate federal dollars to states and localities and to determine eligibility for safety-net programs, such as Medicaid.
Congress would have to agree to adopt the new measure, which generally would result in a higher poverty rate from year to year and thus higher government payouts for aid programs.

Additionally, more than 40 million people would be in poverty if it wasn’t for programs such as Social Security, tax credits and food stamps. Click the image to enlarge it:


The main costs that are driving families into poverty include medical expenses, work expenses and taxes. However, the #1 cause? Lack of adequate employment. Sure, the unemployment rate is relatively stable, but

Record Americans on Food Stamps: A New Normal?

Kevin Glass | Oct 28, 2013

Costs for the Supplemental Nutritional Assistance Program - SNAP, colloquially known as food stamps - have skyrocketed during the Barack Obama presidency. As Christine wrote earlier today, enrollment in food stamps has doubled in the last decade. Former GOP Speaker of the House Newt Gingrich took to pejoratively referring to President Obama as "the food stamp president" during his failed run for the White House in 2012. Of course, there was a massive financial crisis that preceded President Obama's ascension to the White House that he didn't bear any responsibility for, and a lackluster economic recovery since that he does. The economy has contributed to Economics 21 has produced a new chart that demonstrates some of the worrying statistics surrounding the program:

What's more, the cost per enrollee has been skyrocketing. Michael Tanner of the Cato Institute wrote a

The End Of The American Dream - USA

Making Money - Greece

On the Breadline - Greece

Greece is facing a humanitarian crisis

The EU's own poverty standards show that Greece is in crisis. But member states won't admit their 'bailout' was to blame

• 
• • Alex Politaki

'The number of homeless people has risen to unprecedented levels for a European country: unofficial estimates put them at 40,000.' Photograph: Oli Scarff/Getty Images

European societies typically assume that humanitarian crises only take place in the aftermath of natural disasters, epidemics, wars or civil conflicts.That such a crisis could happen in a European country, especially one that is a member of the European Union, seems out of the question to many of us.
And yet a number of experts would maintain that Greece is currently in the centre of a humanitarian crisis. The head of Médecins du Monde, Nikitas Kanakis, the largest and most prominent NGO in Greece, was among the first to declare it openly. The port area of Perama, near Athens, in particular, is in the midst of a humanitarian disaster. The Medical Society of Athens, the largest professional body of its kind, has even sent a formal letter to the UN asking for intervention.
If this humanitarian crisis has so far been little talked about, there are political reasons why. By acknowledging the severity of the situation, the Greek government and the EU would also have admitted that the current state of affairs has been brought about by the so-called economic "rescue" of Greece. So the authorities have chosen to keep quiet.
It is true that there is no general agreement on what constitutes a humanitarian crisis. But the definition used by those with experience in the field is practical and straightforward. A humanitarian

Το αμερικανικό όνειρο που μετατράπηκε στο χειρότερο εφιάλτη. (English also)

 

Οταν στη Μέκκα της ελεύθερης αγοράς, τα αρπακτικά των αγορών και τα τσιράκια τους-κυβερνήσεις δεν δίνουν δεκάρα για το λαό τους και τη δυστυχία που απλώνεται παντού, οι ομοεθνείς μας απόφοιτοι των κολεγίων τους νοιώθουν περήφανοι που διαπράττουν τα ίδια αίσχη και στο δικό τους λαό. Και μερικοί φουκαριάρηδες πιστεύουν ακόμα στο αμερικανικό όνειρο...


Η ΚΑΤΑΡΡΕΥΣΗ ΤΗΣ ΑΜΕΡΙΚΗΣ ΣΤΗ ΦΤΩΧΕΙΑ.

Οι ΗΠΑ έχουν καταρρεύσει οικονομικά, κοινωνικά, πολιτικά, νομικά, συνταγματικά και σε σχέση με το περιβάλλον. Η χώρα που υπάρχει σήμερα δεν είναι ούτε η σκιά της χώρας που γεννήθηκα. Σ΄αυτό το άρθρο θα ασχοληθώ με την οικονομική κατάρρευση των ΗΠΑ. Σε επόμενα με άλλες όψεις της αμερικανικής κατάρρευσης.

Από οικονομική άποψη, η Αμερική έπεσε στη φτώχεια. Όπως λέει ο Peter Edelman «η δουλειά με