From The Stockholm International Peace Research Institute.

As always, click on the graph below for the entire press release which contains links to the paper.

World military expenditure in 2010 is estimated to have been $1630 billion, an increase of 1.3 per cent in real terms.* The region with the largest increase in military spending was South America, with a 5.8 per cent increase, reaching a total of $63.3 billion, according to new data published today by Stockholm International Peace Research Institute (SIPRI)

The United States still exceptional in military spending

Although the rate of increase in US military spending slowed in 2010—to 2.8 per cent compared to an annual average increase of 7.4 per cent between 2001 and 2009, the global increase in 2010 is almost entirely down to the United States, which accounted for $19.6 billion of the $20.6 billion global increase.

‘The USA has increased its military spending by 81 per cent since 2001, and now accounts for 43 per cent of the global total, six times its nearest rival China. At 4.8 per cent of GDP, US military spending in 2010 represents the largest economic burden outside the Middle East’, states Dr Sam Perlo-Freeman, Head of the SIPRI Military Expenditure Project.

Thanks to everyone who sent this story through, especially to Don D. who had the source, Trim Tabs Investment Research, which impressed us around here to no end.

As always, click on the photo.

Welfare State: Handouts Make Up One-Third of U.S. Wages

By: John Melloy Executive Producer, Fast Money

Government payouts—including Social Security,Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.

So anyway, the above story reminded me about a Joni Mitchell interview Mary? had sent in a while back that I had been unable to find a place for.

It takes a couple minutes to get to the tie in, but she tells a good story, is still pretty easy to look at, and has a surprising take on the condition of American society.

Hang in there for it.

As an aside, Charlie Rose consistently does outstanding interviews with people from everywhere.

“The proposed budget cuts from the Obama administration and Congress are jokes.

They are woefully inadequate.

And polls this week revealed that even many self-identified Tea Party members have no desire to cut Social Security and Medicare benefits.

The weaker the political will to enact painful budget reforms, the faster the federal debt will grow.

The faster the debt grows, the more the Fed will be pressured to monetize, which boosts the money supply.

The further the money supply grows, the more urgency investors around the globe will feel to buy gold, silver, and other hard assets.”

Dan Amos, The Daily Reckoning, 03-11-11

Will Rogers c. 1925

 From PIMCO's facebook page no less.

From News9.com via The Quarter Horse News (they run real fast for a quarter mile or so).

As always click the photo to link to the entire story.

$66 Million Tax Dollars Spent Housing Wild Horses

Amy Lester, Oklahoma Impact Team 

PAWHUSKA, Oklahoma -- Wild horses are roaming on private ranches across the state and Oklahomans are footing the bill.

"The question is, where do we spend the best dollar, the wisest for the American people?" asked U.S. Senator Tom Coburn, (R) Oklahoma. "We're just throwing money away."

Senator Coburn is against the way the Bureau of Land Management, or BLM, manages the program. Right now, there are roughly 27,000 horses on long term pastures. They'll live there the rest of their lives. Oklahomans' tax dollars support them, at an average of $475 per horse, per year. That money goes directly to ranchers, including 13, this year in Oklahoma.

"There's not many things you can do in agriculture to change up your cash flow so this was a good program for that," said Ladd Drummond, a rancher in northeastern Oklahoma.

Drummond has 2,200 horses on his land. The government pays him $1.30 per horse, per day. That's $1.04 million a year. Drummond said less than 10 percent is profit, or close to $100,000. He has to dedicate seven acres to each horse. He gives them supplemental feedings in the winter and puts out salt and mineral in the summer.

Business Insider is on a roll this week with a second excellent slide show.

As always, click the photo to link to the entire piece.

Again, way double highly recommended.

I'll let the Department of Labor explain the Davis-Bacon Act  A.K.A. the "prevailing wage " law back there at the gear.

I'll admit it, I had to look it up.

From Business Insider, quick, easy and a revelation.

As alway, clicking on the photo will link you to the entire piece.

Way double highly recommended.

That's a very nice suit ..... seriously.

 

The President's Deficit Commission released their recommendations yesterday, and they are as follows: