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Keyword: federalreserve

Brevity: Headers | « Text »
  • John Galt Hates Ben Bernanke

    04/25/2015 10:24:41 PM PDT · by nickcarraway · 4 replies
    New York Times ^ | APRIL 3, 2015 | Paul Krugman
    Ah: I see that there was a Twitter exchange among Brad DeLong, James Pethokoukis, and others over why Republicans don’t acknowledge that Ben Bernanke helped the economy, and claim credit. Pethokoukis — who presumably gets to talk to quite a few Republicans from his perch at AEI — offers a fairly amazing explanation: B/c many view BB as enabling Obama’s spending and artificially propping up debt-heavy economy in need of Mellon-esque liquidation Yep: that dastardly Bernanke was preventing us from having a financial crisis, curse him. Actually, there’s a lot of evidence that this was an important part of the...
  • Just When You Thought The Obama Economy Can't Get Any Worse, It's Getting A Lot Worse

    04/03/2015 3:08:49 PM PDT · by Kaslin · 106 replies
    Townhall.com ^ | April 3, 2015 | Donald Lambro
    In the seventh year of Barack Obama's administration, the economy is still getting failing grades that have been the hallmark of his trouble-filled presidency. While he continues to go about the country telling voters that his policies are working, this week's dreary economic data tell a far different story. The bleak headlines in the nation's major newspapers tell the story in its bluntest terms. "Stocks fall on disappointing economic data," said USA Today. "U.S. stocks fall on weak economic data," blares The Wall Street Journal, with this subhead: "Private payrolls rise less than expected in March, adding to concerns about...
  • Fed Chair Wants to Know: ‘How Do Some Places Advance Economically?’ (‘inequality’ barf)

    04/02/2015 12:12:51 PM PDT · by Olog-hai · 25 replies
    Cybercast News Service ^ | April 2, 2015 - 11:51 AM | Ali Meyer
    Federal Reserve Chairwoman Janet Yellen called for more research into widening inequality in the United States during a speech at the Federal Reserve Community Development Research Conference in Washington, D.C., on Thursday. “How do some places advance economically and create circumstances in which residents in turn are more likely to thrive?” Yellen said at one point in her speech, giving an example of the type of question she would like to see answered by “further research.” “According to a recent Pew Research Center survey, the gap between rich and poor now ranks as a major concern in the minds of...
  • How low can interest rates go?

    03/26/2015 7:40:52 PM PDT · by Lorianne · 4 replies
    BBC ^ | 25 March 2015 | Robert Peston
    The Bank of England's website says that the "effective lower bound" for the interest rate it sets, Bank Rate, is the current rate of 0.5%. This is the level, according to the Bank, "below which it cannot be set" - the lowest practicable official interest rate. But on this important issue the website is behind the thinking of the Bank of England's Monetary Policy Committee, which sets Bank Rate as its main tool to keep inflation on target. The Bank of England's website says that the "effective lower bound" for the interest rate it sets, Bank Rate, is the current...
  • Governments drink themselves to death at Madame Yellen’s speakeasy

    03/26/2015 1:06:02 PM PDT · by Olog-hai · 4 replies
    MoneyWeek ^ | 03/23/2015 | Bill Bonner
    Last week was a bad one for the US dollar, but good for stocks. The greenback had its worst five days of trading in four years, but the Dow rose another 168 points on Friday. This action took place after Madame Janet Yellen, proprietress of the House of the Rising Stockmarket, said she would not be impatient about raising rates. She would not be patient either, she warned. Investors drew the obvious conclusion: She has no idea what she is doing. […] The world of today is not the same world it was 50 years ago. We have a new...
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • Fiat Currency and German Bonds

    03/14/2015 4:09:33 AM PDT · by OwenKellogg · 10 replies
    The American Thinker ^ | March 12, 2015 | Francis X. Ryan
    ~snip~ Germany was able to sell $3.72 billion of five-year bonds at a negative interest rate of .08%. In essence those who lent Germany this money were willing to pay the German government for the privilege of the government holding the investor’s funds for 5 years. The move reflects, in reality, that investors are more concerned about the return of principle than the return on principle. ~snip~ The disastrous consequences of the current economic policies allow negative interest rates to occur. Negative interest rates are a clear sign of an impending deflationary spiral. ~snip~ Just as the housing market and...
  • Rand Paul’s big mistake: Why his unofficial presidential campaign is flailing already

    02/17/2015 3:12:40 PM PST · by 2ndDivisionVet · 24 replies
    Salon ^ | February 17, 2015 | Elias Isquith
    It's still early, but the future candidate is in serious trouble. Here's why his beloved Tea Party is to blame. Just before sundown on Monday, Politico unveiled a report on how Kentucky Sen. Rand Paul’s support for auditing the Federal Reserve has been received thus far on Wall Street. “Very poorly” seems to be the answer. According to Politico, in fact, the likely presidential candidate’s attempts to bring “the Fed” into the light may have permanently lowered the stock of “the most interesting man in politics” — at least among the conservative members of the 1 percent. “The Fed is...
  • Fiscal Policy and the Federal Reserve

    02/16/2015 8:15:56 AM PST · by Sean_Anthony · 2 replies
    Canada Free Press ^ | 02/16/15 | Douglas V. Gibbs
    Battling for control over money, and the control of our liberty While the politicians in Washington, D.C., claim we have a revenue problem and they must increase our taxes to fix the problem, the truth is we have a spending problem that they are unwilling to address. Unconstitutional spending by the federal government runs rampant, and the professional politicians of both parties are battling for control over that money, and the control of our liberty that accompanies that spending. Both sides of the political coin defend big government, seeking more power, and spending more and more of We the People’s...
  • The Fed’s Right Mind? (Audit the Fed!)

    02/06/2015 9:47:03 AM PST · by Zakeet · 8 replies
    New York Sun ^ | February 6, 2015
    It looks like the Federal Reserve is starting to worry about Senator Rand Paul’s plan to audit the central bank. The way the Hill newspaper, which covers Congress, puts it this week is that the Fed is “lashing out” at Mr. Paul’s plan, which, it said, could gain traction now that the Republicans are in control of the Senate as well as the House. It quotes the president of the Dallas Fed, Richard Fisher, as demanding, in an interview, “Who in their right mind would ask the Congress of the United States — who can’t cobble together a fiscal policy...
  • The Fed Fires Back at Rand Paul

    02/05/2015 4:16:22 PM PST · by SatinDoll · 41 replies
    The Hill ^ | Feb. 5, 2015 | Fred Cirilli
    The Federal Reserve is lashing out at Sen. Rand Paul’s plan to give Congress more oversight over the central bank, a proposal that could gain traction in the new Republican-led Congress. The Kentucky Republican reintroduced his “Audit the Fed” legislation last month with 30 co-sponsors, including other potential 2016 GOP hopefuls, Sens. Ted Cruz (Texas) and Marco Rubio (Fla.). [snip] On Wednesday, Cleveland Fed President Loretta Mester criticized the legislation as “misguided” during public remarks in Columbus, Ohio. “They really are about allowing political considerations to influence monetary policy decisions,” Mester said in her speech. “This would be a tremendous...
  • Stock Markets Spooked by Federal Reserve's Tight-Lipped Statement

    01/28/2015 2:30:16 PM PST · by John W · 12 replies
    thestreet.com ^ | January 28, 2015 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- Stock markets didn't react well to a tight-lipped statement from the Federal Reserve that gave no clear signal as to when it would begin to hike interest rates. January's meeting announcement came with no accompanying press conference, leaving investors to comb the wording for clues as to when a rate hike could occur. "From the equity market perspective, this might be the least helpful the Fed has been," said Brean Capital's Peter Tchir. "They didn't even find a way to work 'considerable' language into this." The S&P 500 closed 1.2% lower, and the Nasdaq dropped 0.73%....
  • Rand Paul and Ted Cruz Join Forces Against the Fed

    01/28/2015 1:33:17 PM PST · by Theoria · 14 replies
    The New York Times ^ | 28 Jan 2015 | Alan Rappeport
    Senators Rand Paul and Ted Cruz might end up running against each other for the Republican presidential nomination, but they can agree on one thing: their distrust of the Federal Reserve. On Wednesday, the two Republican senators introduced the Federal Reserve Transparency Act which Mr. Paul has been pushing for some time.Republicans have questioned the Fed’s moves to stimulate the economy since the financial crisis, arguing that the expansion of its balance sheet will create economic instability. In 2011, Gov. Rick Perry called the Fed’s monetary policies potentially “treasonous” and said that Ben S. Bernanke, the Fed chairman at the...
  • Open-ended European QE set to 'start with a bang'

    01/22/2015 7:12:26 AM PST · by Red Badger · 15 replies
    CNBC ^ | 01/22/2015 | Katy Barnato
    European Central Bank (ECB) President Mario Draghi announced the launch of an open-ended, expanded monthly 60 billion euro ($70 billion) private and public bond-buying program on Thursday. The long-anticipated introduction of euro zone government bond purchases will bring the ECB's buying program into line with the U.S. Federal Reserve's quantitative easing (QE). The program will be open-ended, lasting until at least 2016, Draghi told reporters at his regular media conference on Thursday, and will start in March this year. The hope is that it will boost the region's painfully low inflation rate, which came in at an annual minus 0.2...
  • Gold Drain at the New York Fed: Where's It Going?

    12/07/2014 8:10:04 AM PST · by Kaslin · 75 replies
    Townhall.com ^ | December 7, 2014 | Mike Shedlock
    Nick at Sharelynx Gold, also known as Gold Charts "R" Us emailed an interesting chart last week showing gold drain at the New York Fed. Earmarked gold dropped 42 tonnes for the month of October as foreign countries repatriate their gold home. Here's a link to Earmarked Gold with a second chart that shows all Fed holdings. Gold Charts "R" Us has 1,000's of pages and over 10,000 charts on a subscription basis, but you can check out the site for free until December 14. Click on the first link at the top for a look. Where's the Gold Going?...
  • The Fed Fights Half the Battle (NYT Editorial Board says Fed is "captive" of Banks!)

    12/28/2014 10:20:21 PM PST · by Seizethecarp · 27 replies
    New York Times ^ | December 27, 2014 | NY Times Editorial Board
    Stock prices were slumping in early December, for good reasons, including global economic weakness. But they have surged ever since the Fed stated its intention not to raise rates in the near term. The challenge for the Fed is to hold rates low without inflating bubbles. The way to do so is to control speculation through stepped-up regulation of banks and other financial institutions. Instead, the Fed has been inclined to ease up on regulation. On Dec. 19, it delayed a core provision of the Volcker Rule, a part of the 2010 Dodd-Frank financial reform law that bans speculative trading...
  • The most powerful woman in the world without an army

    12/19/2014 10:15:08 AM PST · by SeekAndFind · 4 replies
    American Thinker ^ | 12/19/2014 | James Longstreet
    The most powerful woman in the world, without an army, just propelled the Dow Jones to a two-day 700-point spike by saying “patience.”  Janet Yellen said the Federal Reserve, the quasi-agency that neither is “federal” nor has any “reserves," can be “patient” in their rate hikes in 2015. She was quick, and clumsy by other accounts, to confuse the rate hike issue, with language suggesting that it might not happen at all.  In the vein of the famous watering hole sign, “free beer tomorrow,” Yellen essentially gave the message that rates would go up in 2015, but they might...
  • Turkey's Erdogan lashes out as lira tumbles

    12/13/2014 6:10:44 AM PST · by SunkenCiv · 14 replies
    Whirled Nut Daily ^ | December 12, 2014 | Daniel Dombey
    ...its lowest levels against the dollar for almost a year, amid investor nervousness about emerging markets. By evening trade in Istanbul the currency had fallen beyond TL2.30 to the US dollar, more than 1 per cent down on the day and the weakest level since January, when the Turkish central bank moved to increase interest rates -- a dramatic shift in policy that at the time halted a precipitous drop in its value. ...Turkey is far from alone in being affected by strong US economic data that has heightened expectations of a US Federal Reserve interest rate rise and so...
  • Will the US give the Dutch their gold back?

    12/02/2014 3:09:07 PM PST · by george76 · 23 replies
    CNBC ^ | 28 Nov 2014 | Matt Clinch
    As the Dutch central bank looks to repatriate some of its gold reserves back from the New York Federal Reserve, Dennis Gartman, the editor and publisher of The Gartman Letter, has questioned what reputational damage this could cause for the U.S. The Dutch central bank last week confirmed that it was shipping gold from the U.S. to the Netherlands to "spread its gold stock in a more balanced way", adding that it would have a "positive effect on public confidence". It comes after the Germans made a similar move in 2013, indicating that it would transfer 300 tons from New...
  • The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives

    12/01/2014 12:03:43 PM PST · by SeekAndFind · 16 replies
    TEC ^ | 12/01/2014 | Michael Snyder
    From the dawn of history, elites have always attempted to enslave humanity.  Yes, there have certainly been times when those in power have slaughtered vast numbers of people, but normally those in power find it much more beneficial to profit from the labor of those that they are able to subjugate.  If you are forced to build a pyramid, or pay a third of your crops in tribute, or hand over nearly half of your paycheck in taxes, that enriches those in power at your expense.  You become a “human resource” that is being exploited to serve the interests of...
  • Federal Reserve Confirms Biggest Foreign Gold Withdrawal In Over Ten Years

    11/29/2014 11:42:43 AM PST · by blam · 45 replies
    Zero Hedge ^ | 11-29-2014 | Tyler Durden
    Tyler Durden11/29/2014 A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign entities, we observed that "we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a...
  • Dodd-Frank Still Stalling Economy

    11/16/2014 7:52:14 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | November 16, 2014 | Bruce Bialosky
    If there ever was a doubt that Dodd-Frank had unintended consequences the announcement that Ben Bernanke was unable to refinance his home clenched that argument for good. We know Mr. Bernanke recently lost his job as Chairman of the Federal Reserve, but we can rest assured he is capable of getting another high paying position. If Bernanke has a problem refinancing than what will face Joan Miller is Elmira, New York?We recently discussed the state of the market with Richard Koevary. Koevary is President of Blue Sky Mortgage, Inc. in Arizona where he has been a licensed mortgage broker for...
  • Why a leading financial analyst believes we will see the 'final destruction' of the dollar

    11/12/2014 8:19:51 AM PST · by fredericbastiat1 · 4 replies
    TheBlaze Books ^ | 2014-11-12 | Benjamin Weingarten
    "[If] the monetary authorities are intent on depreciating the currency, then I think that in the fullness of time they will succeed all too well. …The important thing about QE [quantitative easing] is this idea, this radical precedent is now on the books — the virus as it were is in the monetary bloodstream. ...all of this is…in the books as precedent, and the monetarists and Keynesians are rather preening about the evident success of these interventions, and we can be sure I think that they will not forebear to do more still next time. There will come a time...
  • The Democrats Lost Big Tonight. Why Obama Should Double Down

    11/05/2014 9:45:47 PM PST · by 2ndDivisionVet · 51 replies
    The Nation ^ | November 4, 2014 | Katrina vanden Heuvel, editor & publisher
    If I were advising the White House right now, I would encourage President Obama to take advantage of the end of this year's election cycle—the next fifty or so days—to immediately try to change the subject, in a big way. The Obama administration should act right away to use its executive powers to take steps to deal with long-ignored issues that need to be dealt with for the good of the nation. This cannot be done quietly. To change the media narrative, issues acted upon will have to be controversial enough to dominate the news. President Obama should embrace good...
  • The Rally Surges Back, But There's Trouble Ahead

    11/02/2014 12:00:24 PM PST · by Wuli · 9 replies
    Money Morning ^ | November 2, 2014 | Michael E. Lewitt
    The week was dominated by news by central banks as the Federal Reserve ended QE and the Bank of Japan pushed its QE program to new heights. The result was another rally in stocks around the globe that made the mini-correction earlier this month seem like a dream (or a nightmare). The question is what happens next, and all indications are that markets will continue to ride the wave of central bank liquidity as far as it takes them. Markets were also boosted by a strong initial third quarter U.S. GDP report showing the economy grew at 3.5% and strong...
  • Dollarpocalypse Now

    10/31/2014 5:33:11 PM PDT · by Sean_Anthony · 13 replies
    Canada Free Press ^ | 10/31/14 | Anthony J. Tarquinto
    Federal Reserve is losing control. They cannot keep interest rates low forever. Nobody can. And when rates rise, the results will be devastating In the 1979 film Apocalypse Now, Colonel Walter E. Kurtz (played by Marlon Brando) utters, “the horror, the horror,” on his deathbed. He might as well have been talking about the U.S. dollar. Central banks maintain a nation’s currency. As the world’s largest central bank, the United States Federal Reserve, or “Fed,” sets the rate of interest in worldwide lending. It also has major influence on monetary policy. For instance, the Fed’s $85 billion per month in...
  • Please, Janet Yellen, Shut Up

    10/18/2014 6:37:05 AM PDT · by Kaslin · 23 replies
    Townhall.com ^ | October 18, 2014 | John Ransom
    It’s long past time to end the Fed as it is currently constructed. And it was only a matter of time before an Obama appointee put an exclamation on the point. It’s what Obama appointees are best at. Yellen stepped out of her role as Master of the Stock Market to expound on taxation and public education.Yellen points out that poor school districts sometimes aren’t funded as well as rich one are because the United States relies on local control of education. It’s what she calls “subnational taxation.” Her implied proposal is that it would be much better if the...
  • 1913 Was a Very Bad Year ( from way back )

    01/19/2012 7:58:40 PM PST · by george76 · 39 replies · 1+ views
    American Thinker ^ | August 8, 2010 | J.B. Williams
    Prior to 1913, there was no federal income tax. The states had rights and representation in Washington, D.C., there was no Federal Reserve Bank, and the federal government lived under the enumerated powers afforded within the U.S. Constitution. What a difference one year can make... ... Passage of the 16th Amendment to the Constitution would forever change life in America, and not for the better. ... Further, thanks to the 17th Amendment, also passed in 1913, the states no longer have representation in Washington, D.C. Once again, what seemed like a simple sentence and a good idea to some at...
  • Fed report: IRS bungles hunt for unpaid taxes

    09/29/2014 9:14:07 PM PDT · by Olog-hai · 20 replies
    Associated Press ^ | Sep 29, 2014 5:31 PM EDT | Alan Fram
    The IRS failed to take all required steps for collecting unpaid taxes from people it can’t locate in over half the cases that investigators studied, potentially costing the government a pile of lost revenue, according to a federal report released Monday. The study does not estimate exactly how much money the IRS might collect if its workers were conducting all the research they are supposed to perform to find the taxpayers. The investigators wrote that in 2012, the IRS declared $6.7 billion in unpaid taxes to be uncollectable—involving nearly 483,000 tax returns—because it couldn’t find the taxpayers. Of that total,...
  • Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs

    09/29/2014 2:03:59 PM PDT · by SeekAndFind · 30 replies
    TEC ^ | 09/28 | Michael Snyder
    For years, many people have suspected that the New York Fed is more or less controlled by the "too big to fail" banks. Well, now we have smoking gun evidence that this is indeed the case. A very brave lawyer named Carmen Segarra made a series of audio recordings while she was working for the New York Fed. The 46 hours of meetings and conversations that she recorded are being called "the Ray Rice video for the financial sector" because of the explosive content that they contain. What these recordings reveal are regulators that are deeply afraid to do anything...
  • Dallas Fed Reserve Pres: Fed Gov’t Should ‘Get Their Act Together and Be More Like Texas’

    09/29/2014 3:05:27 AM PDT · by Olog-hai · 4 replies
    Fox News Insider ^ | Sep, 28, 2014 1:31 pm
    Despite struggling with the ongoing border crisis, Texas is the number three state in terms of job growth, creating more than 20,000 jobs in August alone, with an unemployment rate of just 5.3%. So, what is Texas doing right? […] (President and CEO of the Federal Reserve Bank of Dallas, Richard) Fisher explained that Texas is way ahead of much of the nation economically largely due to its highly diversified economy, pro-business government and lack of income tax. …
  • An Idiotic Government with Idiotic Goals

    09/18/2014 7:42:08 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | September 18, 2014 | John Ransom
    For folks who are trying to ignite inflation, this sure isn’t working out very well. It’s been hoped by the country’s central bankers that the massive quantitative easing program along with near-zero interest rates will touch off a wave of inflation that if not exactly the same thing as boom times, will at least give the appearance of a strengthening economy. However, month after month inflation in the goods that the Fed cares about seems muted. Now this month we had the horrid news that official inflation numbers are falling not rising.
  • Fed Chair Yellen’s assets up 8 percent during 2013

    08/28/2014 11:29:57 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | Aug 28, 2014 4:25 PM EDT | Martin Crutsinger
    Federal Reserve Chair Janet Yellen’s assets rose in value by at least 8 percent during 2013, raising their total to between $5.3 million and $14.1 million, according to her latest financial disclosure released Thursday. Yellen’s biggest asset is a trust fund she set up in 1992 with her husband, George Akerlof, a Nobel Prize-winning economist. The value of the trust fund is estimated at between $1 million and $5 million. Yellen’s assets have likely been driven up in value by a rebounding economy and a rising stock market. In 2012, her disclosure form estimated her assets at between $4 million...
  • Two experts warn correction could total 60%

    08/27/2014 5:07:06 PM PDT · by SkyPilot · 93 replies
    CNBC ^ | 27 Aug 14 | Matthew J. Belvedere and Everett Rosenfeld
    <p>Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.</p> <p>A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."</p>
  • Survey: Economists say Fed is on ‘the right track’

    08/24/2014 11:50:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 25, 2014 12:39 AM EDT | Ken Sweet
    A majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy, according to a survey released Monday by the National Association of Business Economists. The survey also showed that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years. In the association’s semiannual survey, 53 percent of economists said the Fed’s stimulus programs were “on the right track” for the U.S. economy while 39 percent thought the Fed was doing too much. …
  • Fed Chief Sees Not Enough Data to Raise Rates

    08/23/2014 8:16:28 AM PDT · by John S Mosby · 4 replies
    nytimes ^ | August 22,2014 | Binyamin Appelbaum
    ".......Ms. Yellen broke little new ground in her speech. She reiterated the Fed’s basic guidance after its July meeting that holding short-term interest rates near zero remains necessary and useful to increase employment. She said the gap between current conditions and a return to full health was still “significant.”..... .......... A small group of demonstrators made the trek to the remote resort hotel in the middle of Grand Teton National Park to urge Fed officials to continue the stimulus campaign. They formed a receiving line for policy makers in the lobby outside the conference, dressed in green T-shirts emblazoned: “What...
  • What Margaret Thatcher Missed: Why you can never "run out of other people's money" to spend

    07/28/2014 6:56:49 AM PDT · by SeekAndFind · 23 replies
    American Thinker ^ | 07/28/2014 | James Longstreet
    The “Iron Maiden." She was the staunch and sturdy leader of Great Britain who once held up F. A. Hayek’s masterwork “Road to Serfdom” and declared “This is what we believe in.” Hayek’s work is a road map for what could go wrong when individual freedoms are lost and central planning becomes the answer for every ill. When truth is bent to meet the moment and government decision making is the proposed cure all, “serfdom” is the destination. Margaret, in believing Hayek’s cautionary, also declared that Socialism cannot sustain itself. Socialism can not last because eventually “you run out of...
  • Big Insurance was supposed to be "punished" by Obamacare; Big Insurance was behind it all the time

    07/24/2014 4:18:12 PM PDT · by CharlesOConnell · 17 replies
    American Chesterton Society Blog ^ | 2-20-2012 | Dale Ahlquist
    G.K. Chesterton’s Prophetic Look at National Health Care Dale Ahlquist | 2-20-2012 | American Chesterton Society Blogweb.archive.org/web/20130811135205/http://www.chesterton.org/2012/02/a-prophetic-look-at-national-health-care-2/G.K. Chesterton considered himself a member of the Liberal Party until 1912. As he would later say, he did not leave the Liberal Party. It left him. He believed in something called liberty, the idea that people should be able to make most decisions for themselves, especially the most basic and most important decisions, and not have such decisions made for them by anyone else, especially by the government. He believed, as a liberal, that the State’s role was to preserve liberty, not take...
  • The weird obsession that's ruining the GOP: Benghazi? ObamaCare? Hillary? No — it's inflation.

    07/24/2014 4:59:28 AM PDT · by 2ndDivisionVet · 12 replies
    The Week ^ | July 23, 2014 | James Pethokoukis
    Call it doomsday prepper economics. For more than five years, many Republicans and conservatives have warned that catastrophe is nigh. Washington's deficit spending and the Federal Reserve's excessive money printing will lead to a financial crisis worse than the Great Recession, they prophesied. Inflation will skyrocket, the dollar will collapse, and the Chinese will dump treasuries, they swore. As Ron Paul, the libertarian former GOP congressman and presidential candidate, said back in 2009: "More inflation is absolutely the wrong way to go. We're taking a recession and trying to turn it into a depression. We're going to see a real...
  • Experts: America's gold is gone

    07/18/2014 6:35:46 PM PDT · by SkyPilot · 91 replies
    WND and King World News ^ | 18 Jul 14 | Mark Leibovit
    Paul Craig Roberts: The entire U.S. gold hoard is now goneFormer U.S. Treasury official Dr. Paul Craig Roberts told King World News the entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone. This is very bad news for Germany and other countries which have trusted the Fed to safely store their gold. Excerpts from the interview: Eric King: Dr. Roberts, I know you’ve seen the report on Bloomberg about Germany supposedly being happy with storing their gold at the New York Fed. It seemed to be a propaganda piece. What was...
  • What If a Hidden Hand Hired Dems to Ram Thru Single-Payer, But They Were Incompetent to Do It?

    07/13/2014 8:49:17 PM PDT · by CharlesOConnell · 6 replies
    Cato Institute ^ | July 10, 2014 | Michael F. Cannon
    Still No Halbig v. Burwell Ruling, But Plenty of Halbig Chatter By Michael F. CannonThe latest bit of chatter about a someday-forthcoming ruling from the D.C. Circuit in Halbig v. Burwell is the banter between myself and Washington & Lee University law professor Timothy Jost. (For a quick primer on the Halbig cases, click here. For a comprehensive reference guide to the cases, click here.) Or as my email traffic has described it, “The subtle repartee between Michael Cannon and Tim Jost continues.” And, “What a summer! Argentina vs. Germany, Cannon vs. Jost. What’s next?“ Jost’s contribution appeared on the...
  • Forward guidance: making it up as you go along

    06/25/2014 5:24:10 PM PDT · by Lorianne
    CNBC ^ | 24 June 2014 | Moorad Choudhry
    The banking industry likes superfluous language. There's "quantitative finance" for example, which (given that finance isalready a quantitative subject) is a bit like saying "aerial flight" or "wet swimming". And then there's "forward guidance". What, as opposed to backward guidance? I mean, what other type of guidance is there? Last summer the Bank of England (BoE) decided it wanted to import the U.S. Federal Reserve's forward guidance policy. In short this went along the lines of "we'll link future moves in the base rate to other external market indicators, so that as these other indicators move then so will base...
  • Inflation? Only If You Look At Food, Water, Gas, Electricity And Everything Else

    06/20/2014 8:49:31 PM PDT · by george76 · 72 replies
    Zero Hedge ^ | 06/20/2014 | Tyler Durden
    Have you noticed that prices are going up rapidly? If so, you are certainly not alone. But Federal Reserve chair Janet Yellen, the Obama administration and the mainstream media would have us believe that inflation is completely under control and exactly where it should be. Perhaps if the highly manipulated numbers that they quote us were real, everything would be fine. But of course the way that the inflation rate is calculated has been changed more than 20 times since the 1970s, and at this point it bears so little relation to reality that it is essentially meaningless. Anyone that...
  • Mass Hysteria In The Stock Market Backed By The Full Faith And Credit Of The United States.

    06/19/2014 4:56:36 PM PDT · by joeclarke · 8 replies
    JoeClarke.Net ^ | 6/19/2014 | JoeClarke.Net
    Article IV, Section 1  "Full Faith and Credit" Clause of the United States Government. "This is the worse post recession  recovery in American  history,"  as the stock market reaches new highs, compliments of the Federal Reserve's money printing. It is hard to fathom how the elites and intellectuals can get it so wrong that they fall for falsehood after falsehood. The smartest people in the room have been foiled no less than Hitler's mesmerized disciples, or Mao's little-red-book of communized socialist fellow travelers, or Stalin's scientists who guaranteed that wheat could be grown in the coldest, most inhospitable climates.There is...
  • S&P 500 ends at record high; Fed cuts stimulus, sees improvement

    06/19/2014 6:37:57 AM PDT · by SeekAndFind · 4 replies
    CNBC ^ | 06/19/2014 | Kate Gibson
    U.S. stocks climbed on Wednesday, lifting the S&P 500 to a record finish, after the Federal Reserve said the economy is rebounding and that interest rates would stay low for some time. "We are inching from unprecedented accommodation to policy tightening, even though it's not imminent," said Anastasia Amoroso, global market strategist at J.P. Morgan Funds. The Fed alluded to a slightly faster pace of interest rate increases next year, while suggesting benchmark borrowing costs in the longer term would be lower than the Fed has indicated before. Fed Chair Janet Yellen attempted to "introduce a degree of uncertainty into...
  • What Keynes Has Done To Us

    06/17/2014 7:24:49 AM PDT · by Nelson Hultberg · 13 replies
    Americans for a Free Republic ^ | June 15, 2014 | Nelson Hultberg
    The essential economic problem we confront today is that our dominant Keynesian intellectuals have abandoned reality. They do not grasp what they have wrought with the mountainous loads of debt and malinvestment that are overwhelming us. Much of this burden must be liquidated before genuine demand and growth can be restored, which will require radical reform if we are to evoke a genuine cure. To try and solve today’s debt created crisis with more debt (as the Keynesians are presently doing) can only bring on a bigger bust the next time around, which will require still larger “debt injections” to...
  • The Fed-Induced Demise Of The American Dream (In 1 Simple Chart)

    06/10/2014 12:53:20 PM PDT · by PoloSec · 10 replies
    Zero Hedge ^ | June 10 2014 | Tyler Durden
    Thanks to free and abundant credit to those at the front of the line, home prices have soared in the last few years as "smart" hedge fund managers have bought homes-to-rent in a yield-grab with both hands and feet. This - as we have noted numerous times - priced out the 'real' buyer; who this time, instead of being driven by a "fear of missing out", would rather not play (only to be left holding the bag). Another unintended consequence courtesy of The Fed's "main-street-helping" actions that has destroyed the American Dream for a declining middle class.  Fewer Americans think...
  • The Chevy Volt: One Part Social Security, Two Parts Postal Service

    06/08/2014 5:59:32 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | June 8, 2014 | John Ransom
    As many already know, the Ransom Notes and Townhall Finance Worldwide HQ is moving to the West Coast this month to better serve our readership. Please bear with me, while we get moved. Georgia Boy wrote: Actually, President Obama has not raised taxes on anybody, but I think he will raise taxes on the wealthiest (back to historic levels) when he gets his second term. That said, Ransom is just another Rat-wing speculation, pretty much full of bovine manure. -France’s “No Limit” Tax Perfect for Zero Dear Comrade Boy Georgia, You’re right about Obama wanting to bring taxes to historic...
  • 1934 Editorial Cartoon - Planned Economy or Planned Destruction

    05/18/2014 7:18:32 PM PDT · by Bigtigermike · 21 replies
    Chicago Tribune | Sunday May 18, 2014
    Plan of Action for U.S. - SPEND SPEND SPEND Under the guise of Recovery - Bust the Government - Blame the Capitalists for the failure - Junk the Constitution and declare a dictatorship Deplete the Resources of the Soundest Government in the World!
  • Einhorn Finds Dinner Chat With Bernanke ‘Frightening’

    05/06/2014 3:37:20 PM PDT · by Red in Blue PA · 7 replies
    David Einhorn, manager of the $10 billion Greenlight Capital Inc., said he found a recent dinner conversation with former Federal Reserve Chairman Ben S. Bernanke scary. "I got to ask him all these questions that had been on my mind for a long time," Einhorn said in an interview today with Erik Schatzker and Stephanie Ruhle on Bloomberg Television, referring to a March 26 dinner with Bernanke. "It was sort of frightening because the answers were not better than I thought they would be." Einhorn, 45, has been critical of Bernanke's willingness to leave interest rates near zero for more...