Addison Wiggin

Because New York has solved all its other post-superstorm Sandy problems, Mayor Michael Bloomberg has banned food donations to the homeless.

“I can’t give you something that’s a supplement to the food you already have? Sorry that’s wrong,” says Glenn Richter, who gathered surplus bagels from a synagogue to drop off at a city-run homeless shelter.

Sorry, no-go. The city has no way to examine the salt, fat and fiber content of donated food.

Achtung: Verboten!“My father lived to 97,” Richter tells WCBS-TV “my grandfather lived to 97, and they all enjoyed it, and somehow, we’re being told that this is no good and I think there is a degree of management that becomes micromanagement, and when you cross that line simply, what you’re doing is wrong.”

What’s the city worried about? Lawsuits? From homeless people who’ve been displaced by the superstorm? Over fat and salt content in the food?

They don’t accept donations “for the things that we run,” Mayor Bloomberg told puzzled reporters, “because of all sorts of safety reasons, we just have a policy, it is my understanding, of not taking donations.”

When reminded it was his minions who put this rule in place only recently, he upped the ante: “If they did [accept food] in the past, they shouldn’t have done it and we shouldn’t have accepted it.”

Let them eat cake, indeed. But only a vegan, unsalted, sugar-free cake, apparently… good lord.

Cheers,
Addison Wiggin

The preceding article was excerpted from Agora Finacial’s 5 Min. Forecast. To read the entire episode, please feel free to do so here.

Addison Wiggin

Addison Wiggin is the executive publisher of Agora Financial, LLC, a fiercely independent economic forecasting and financial research firm. He's the creator and editorial director of Agora Financial's daily 5 Min. Forecast and editorial director of The Daily Reckoning. Wiggin is the founder of Agora Entertainment, executive producer and co-writer of I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival, the 2009 Critics Choice Award for Best Documentary Feature, and was also shortlisted for a 2009 Academy Award. He is the author of the companion book of the film I.O.U.S.A.and his second edition of The Demise of the Dollar, and Why it's Even Better for Your Investments was just fully revised and updated. Wiggin is a three-time New York Times best-selling author whose work has been recognized by The New York Times Magazine, The Economist, Worth, The New York Times, The Washington Post as well as major network news programs. He also co-authored international bestsellers Financial Reckoning Day and Empire of Debt with Bill Bonner.

Recent Articles

Bill Bonner
An Easy Way to Avoid Pig-Headed Mistakes

Bill Bonner

Taken individually, most people perform relatively well in their daily lives. They get up, drive to work and interact with various other people, largely without incident. But when big groups of people get together, they can be incredibly pig-headed, demanding "action" when the best course of action would simply be inaction. And before you know it, chaos ensues. Bill Bonner explains...


Attack on America’s Most Important Pipeline

Byron King

America's most precious resource isn't oil, natural gas, gold or any other commodity. But it travels through an extensive pipeline that, if severed, could signal an unprecedented breach in U.S. security. What is this pipeline, and why is it so imperative that the U.S. take steps to protect it? Byron King explains...


3 Critical Correction Warnings

Greg Guenthner

The S&P 500 just clocked a new closing high last week, while the Dow and the Nasdaq both fell just short or their previous highs. But under the surface, you'll find a few bits of evidence pointing toward lower prices. And right now, there are seeing several warning signs that could point to market weakness. Greg Guenthner explains...


Extra!
Where You Can Make $56,000 a Year Delivering Pizzas

Jim Mosquera

US unemployment rates are some of the most dubious and debatable numbers in economics. And when you look at how the government fudges them it's easy to see why. Today Jim Mosquera attempts to make sense of them, and includes an insightful commentary on another controversial topic: minimum wage. Read on...


Addison Wiggin
The Quickest, Easiest Way to Store Your Wealth Overseas

Addison Wiggin

Over the years, the feds have made it increasingly difficult for you to maintain any semblance of financial freedom. So today, Addison Wiggin details one strategy that will go a long way to keeping them at bay, and allow you to keep more of your hard-earned money in the process. Read on...