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Keyword: federalreserve

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  • Both at Home and Abroad, Obama’s Presidency is Floundering

    04/20/2014 8:40:44 AM PDT · by Cheerio · 41 replies
    Town Hall ^ | Apr 19, 2014 | Donald Lambro
    WASHINGTON -- Barack Obama is getting a number of critical report cards on his foreign and domestic policies lately. Here at home, Janet Yellen, in her first monetary policy address as the head of the Federal Reserve Board, said the labor markets were still weak, and that it will likely take two years or more before the U.S. fully recovers from its recession. Ouch. If Yellen's forecast proves right, this means it will have taken Obama's administration nearly eight years to lift our economy out of its long and painful lethargy.
  • Obama CONFISCATES ALL APACHE ATTACK HELICOPTERS From The Governors of ALL 50 STATES

    04/17/2014 9:59:31 AM PDT · by Art in Idaho · 95 replies
    Secrets of the Fed ^ | April 17, 2014 | secretsofthefed.com
    As if the Obama administration’s purchase of more than 2 billion rounds of ammunition, and nearly 3,000 urban tanks, along with their unprecedented (and highly illegal) domestic spying program was not enough to convince you that the federal government is about to suspend the Constitution once and for all, the man who once vowed to run “the most transparent administration in history” has just rather inexplicably, ordered the U.S. Army to seize every Apache attack helicopter currently in use by the National Guard. In all, the Defense Department will confiscate 192 Apaches from National Guard units around the country and...
  • Fed Can Print Money, But It Can't Print Jobs

    04/17/2014 6:32:50 AM PDT · by SeekAndFind · 23 replies
    IBD ^ | 04/17/2014 | Alan Reynolds
    We have all been watching a long mystery with no ending: What the Federal Reserve governors are trying to do, how they intend to do it and why they imagine their efforts will work. The key questions boil down to two: (1) What target should the Fed aim at, and (2) what policy instruments should it use to hit that target? The Fed's only explicit target — an unemployment rate of 6.5% — was shrewdly discarded as "outdated" as that target grew near. Actually, the idea of focusing on unemployment is outdated, since it presumes that high unemployment guarantees low...
  • An Inconveniet Truth

    04/16/2014 4:35:44 PM PDT · by SatinDoll · 3 replies
    The Market-Ticker ^ | April 16, 2014 | Karl Denninger
    We're better than those damned Russians and their Putin; we have democracy! Well, maybe not. Quote: Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism. Lots of big words in that paragraph. Let's distill it down -- the argument presented is that America is really no different than...
  • Blame the Fed for high food prices

    04/16/2014 3:25:28 PM PDT · by ilovesarah2012 · 13 replies
    atimes.com ^ | April 2, 2014 | Noureddine Krichene
    The Wall Street Journal and the Financial Times (FT) have recently reported frightening food-price inflation. Prices for staples like coffee, oats, milk, meat, vegetables and fruits have increased so far in 2014 by rates as high as 70%. The FT noted that a breakfast now costs at least 25% more than it did in 2013. As expected, media attributed the food-price inflation to droughts and to fast-growing demand in Southeast Asia. For fish, for which prices tripled in recent years, the drought factor does not apply, leaving us with high demand. This explanation fits best with what the US Federal...
  • The KKK Tries to Make A Comeback

    04/15/2014 3:39:30 PM PDT · by nickcarraway · 41 replies
    Time ^ | 4/15
    As a former Klan leader is charged with killing three in Kansas, the frayed white supremacy group is trying to attract new members. The Southern Poverty Law Center estimates the number of hate groups in the U.S. has risen from 602 in 2000 to 939 in 2013 The Ku Klux Klan was once a major force in America, with a membership of nearly 4 million that regularly included mayors, chiefs of police and other grandees of segregated regions, especially in the South and Midwest. It’s been decades since the Klan held that sort of mainstream sway, but Sunday’s deadly rampage...
  • Yellen signals more aggressive stance toward banks

    04/15/2014 1:03:06 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Apr. 15, 2014 2:53 PM EDT | Martin Crutsinger
    The Federal Reserve may be about to turn more aggressive in its regulation of the financial system. Fed Chair Janet Yellen suggested Tuesday that current regulatory rules might not be enough to prevent the kind of risk-taking that triggered the 2008 financial crisis and nearly toppled the entire banking system. She said the largest U.S. banks may need to hold additional capital to withstand periods of financial stress. Non-banks with deep reaches into the financial system might also need to meet tougher rules, she said. Such firms range from money market mutual funds to private equity and hedge funds. …
  • New Ukrainian government pulls a Cyprus and seeks to tax bank accounts

    04/15/2014 10:23:18 AM PDT · by PieterCasparzen · 10 replies
    examiner.com ^ | 3/20/2014 | Kenneth Schortgen, Jr.
    When the Ukrainian people overthrew the duly elected President in late February, the office of Prime Minister was quickly filled by a technocrat, and member of the European banking establishment. Thus it is not surprising when on March 20, the interim Ukrainian government is going ahead with plans that follow the path of Cyprus, and are instituting a tax on bank depositors and account holders, and are bringing the program of bail-ins to the Eastern European country. ... It is not coincidence that the 'Ukrainian Winter' uprising occurred after the government chose to bypass the IMF and the EU, and...
  • Kansas City Shooter Inspired by Leftist Anti-Israel Demagogue Max Blumenthal-Cited by Killer

    04/15/2014 6:06:31 AM PDT · by SJackson · 15 replies
    Frontpagemagazine ^ | 4-15-14 | http://www.frontpagemag.com/2014/dgreenfield/anti-israel-leftist-cited-by-anti-semitic-killer-mocked
    Anti-Israel Leftist Cited by Anti-Semitic Killer Mocked Idea that American Jews are At Risk - FrontPage Magazine - http://www.frontpagemag.com - Anti-Israel Leftist Cited by Anti-Semitic Killer Mocked Idea that American Jews are At RiskPosted By Daniel Greenfield On April 14, 2014 @ 12:27 pm In The Point | 4 Comments Leftist Anti-Israel journalist Max Blumenthal, who is affiliated with The Nation, ridiculed the idea that American Jews are an at risk population.Blumenthal, whose attacks on Israel and Jews were described as anti-Semitic even by many on the left, and whose work was allegedly cited by the Kansas City killer and...
  • Chilling 2010 Interview With Right-Wing Jewish Center Shooter

    04/14/2014 6:28:09 PM PDT · by Borges · 37 replies
    AATP ^ | 4/14/2014
    In a 2010 interview, Alan Colmes talked with a KKK Grand Dragon, who would later become the Jewish Center shooter, as he was running for Senate in Missouri as a Republican–and the glimpse into the mind of this madman that the interview offers is simply horrifying. On Sunday, Frazier Glenn Miller, or Frazier Glenn Cross, murdered three people at two different Jewish centers in Overland Park, Kansas–including a man, woman, and child. He shot at two others, but they were uninjured. As he was arrested, the founder of the White Patriot Party screamed “Heil Hitler!” Frazier/Cross told Colmes, a Jewish...
  • CNN "SHOCKER": MH370 Intact, All Alive, Plane Was Followed By Military Jets (Video)

    04/08/2014 10:10:22 PM PDT · by My Favorite Headache · 87 replies
    Conservative Infidel ^ | April 9th, 2014
    Posted on Wednesday, April 9th, 2014 at 12:19 am. by: Santo Lippo KUALA LUMPUR (INTELLIHUB) — In a strange twist of events Sara Bajc, the girlfriend of missing flight 370 passenger Phillip Wood, told CNN how the Malaysian military and even the U.S. are likely involved in a massive cover-up surrounding the aircrafts disappearance on the morning of Mar. 8. Astonishingly Bajc told CNN, “The jet [flight 370] had actually been accompanied by fighter planes, there is some witness to that.”. “I think we need to have a better view into where that plane went and who has got it...
  • Purported Communication from Flight 370

    04/01/2014 5:02:45 PM PDT · by Mean Daddy · 18 replies
    Secrets of the Fed ^ | April1, 2014 | Shepard Ambellas
    INDIAN OCEAN (INTELLIHUB) — According to freelance journalist Jim Stone, one of the American passengers, Phillip Wood, a technical storage executive at IBM, who was aboard the now missing Malaysian Airlines flight, keystered his iPhone 5 in his anus after the Boeing 777 carrying 239 people was hijacked by military personnel while on route to China. Amazingly, Stone claims that metadata within the photo yields evidence confirming “100 percent” that Phillip Wood sent the photo, along with a brief voice activated text, from GPS coordinates which put Wood only a few miles away from the U.S. controlled Diego Garcia military...
  • China Accelerates Bad Debt Writeoffs

    03/31/2014 10:06:56 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | March 31, 2014 | Mike Shedlock
    Financial stress related to Ponzi financing and other bad debts in China is readily visible in numerous places. One result is China’s Big Banks Double Bad-Loan Write-Offs. China’s biggest banks more than doubled the level of bad loans they wrote off last year, in a sign that financial strains are mounting as growth in the world’s second-largest economy slows. The five biggest Chinese banks, which account for more than half of all loans in the country, removed Rmb59bn ($9.5bn) from their books in debts that could not be collected, according to their 2013 results. That was up 127 per cent...
  • Their Solution, Our Problem

    03/30/2014 8:22:57 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | March 30, 2014 | Paul Jacob
    Increasing public debt is bad for a number of reasons. Journalist Matthew Yglesias, speaking on vox.com, gives voice to a very different, more Pollyannish perspective: “Debt is just not a problem right now,” he says. Why? “The U.S. can never run out of dollars.” After all, the Fed can just print more. That’s not an uncommon view where I live, near the center of privilege, Washington, D.C. Indeed, it’s what liberals and progressives say every time a Tea Partier protests federal overspending and multi-billion-buck budget deficits. In other words, the idea is as common as dirt. So why General Electric...
  • Socialism and Electric Cars:

    03/30/2014 5:46:39 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | March 30, 2014 | John Ransom
    Beatrice17 wrote: First of all, the USPS is NOT a government organization, but a private business. (sigh). Second, the USPS does NOT photograph every piece of mail. (sigh) It does run it thru multiple scanners. One is a bio scanner - developed since the "white powder" scare - that can locate poisons, etc. Another is a zip code scanner, to electronically put zip codes on the mail so that it can be electronically sorted. This saves time and money... except when your Grammy writes so illegibly that her letter has to be kicked out and a real live human has...
  • "QE Was A Massive Gift Intended To Boost Wealth", Fed President Admits

    03/23/2014 10:57:16 AM PDT · by SkyPilot · 35 replies
    Zero Hedge ^ | 22 March 14 | Tyler Durden
    <p>With Bernanke gone, the remaining Fed members knowing full well they will be crucified, metaphorically of course (if not literally) when it all inevitably comes crashing down, are finally at liberty with their words... and the truth is bleeding out courtesy of the president of the Dallas Fed, via Bloomberg.</p>
  • Fed to Raise Interest Rates on Obama's Weak, Struggling and Jobless Economy

    03/21/2014 11:50:28 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | March 21, 2014 | Donald Lambro
    WASHINGTON - Federal Reserve Chairman Janet Yellen briefed the country Wednesday on the Fed's plans for the economy's problem-plagued recovery, sending Wall Street into a swoon. It was her first news conference as the new head of the nation's central bank, and though she was cautious in her remarks, she suggested that economic data has improved more than many people, and other economists, think. But it was the Fed's plans to start raising interest rates earlier than expected that came as an ice cold shower for the still- sluggish economy and for the stock market. Yellen's remarks, following a report...
  • Nearly all major US banks pass Fed ‘stress tests’

    03/20/2014 5:48:35 PM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Mar 20, 2014 7:29 PM EDT | Marcy Gordon and Alex Veiga
    More than five years after the financial crisis struck, the biggest U.S. banks are better able to withstand a severe recession than at any time since the meltdown, the Federal Reserve has determined. Results of the Fed’s annual “stress tests” showed Thursday that all but one of 30 top banks passed muster with sufficient capital buffers to keep them lending through an economic crisis. Only Zions Bancorp fell short. The results showed continued improvement in banks’ financial positions since the 2008 crisis, the Fed said. That built on positive results from last year’s tests. “The industry is stronger and more...
  • Cashing In

    03/15/2014 10:38:18 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | March 15, 2014 | Rich Tucker
    It was as inevitable as the sun rising in the east. The far east, in this case, over the Land of the Rising Sun. The Mt. Gox currency exchange in Tokyo, where buyers and sellers dealt in the unofficial currency Bitcoin, collapsed recently. As it disappeared, so did some $400 million. That money may have been lost, or stolen. Nobody’s sure. What many are sure of is that this collapse shows the need for more regulation. “The clear ends of Bitcoin for either transacting in illegal goods and services or speculative gambling make me wary of its use,” Sen. Joe...
  • Food Price Inflation Scares The Fed

    03/14/2014 6:42:27 AM PDT · by SeekAndFind · 22 replies
    American Thinker ^ | 03/14/2014 | Chriss Street
    Stock markets around the world fell today, led by the 246 point dive, or 1.5%, for the U.S. Dow Jones Industrial Average and the 1.9% drop for German stock market index.  Analysts generally pointed to worries about a shrinking Chinese lending and the potential trade war between Russia and the West, but I am more concerned that since the beginning of 2014 food prices have skyrocketed.  The Federal Reserve must be concerned that their international support for “cheap money policies” to stimulate economic growth may be funding commodity speculation that is driving prices higher and creating wide spread misery. If...
  • The Fed Is Not Printing Money, It's Doing Something Much Worse

    03/10/2014 7:03:39 AM PDT · by SeekAndFind · 18 replies
    Forbes ^ | 03/09/2014 | John Tamny
    The Federal Reserve’s seemingly endless program of quantitative easing (QE) begun under Ben Bernanke, and continuing at a slightly slower pace under Janet Yellen, has some of the punditry and much of the electorate up in arms. With good reason. Implicit in quantitative easing is the horribly obtuse notion that central banks can produce real economic growth through their monetary machinations. If only life were so simple. Back in the world of the reasonable, the sole purpose of money is as a stable measure of value that facilitates the exchange of goods and investment. Quantitative easing, by its very name,...
  • Three Positive Signs from the New Chair of the Federal Reserve

    03/01/2014 11:10:47 AM PST · by Kaslin · 5 replies
    Townhall.com ^ | March 1, 2014 | Daniel J. Mitchell
    Like John Stossel and Thomas Sowell, I’m not a big fan of the Federal Reserve. It’s not just that I’m a libertarian who fantasizes about the denationalization of money. I also think the Fed hasn’t done a good job, even by its own metrics. There’s very little doubt, for instance, that easy-money policies last decade played a major role in creating the housing bubble and causing the financial crisis. Yes, Fannie Mae and Freddie Mac played a big role, but it was the Fed that provided the excess liquidity that the GSEs used to subsidize the subprime lending orgy. But...
  • Sen. Manchin demands complete US ban on Bitcoin

    02/26/2014 6:19:20 PM PST · by mmichaels1970 · 38 replies
    cnet.com ^ | 2/26/2014 | Declan McCullagh
    A US senator is asking the federal government to take this remarkable step: completely ban Bitcoin. Joe Manchin, a Democratic senator representing West Virginia, sent a letter Wednesday to the Treasury Department, the Federal Reserve, and other regulators characterizing the virtual currency as encouraging "illicit activity" as well as being "highly unstable and disruptive to our economy."
  • Fed may need to let inflation run hot to meet goals: Evans (here it comes!)

    02/28/2014 3:14:58 PM PST · by Red in Blue PA · 21 replies
    NEW YORK (Reuters) - The Federal Reserve should be willing to let inflation temporarily run above its target level so as to more quickly bring the economy back to health, a top Fed official said on Friday, even as a second policymaker signaled the very idea left him cold. The debate, between Chicago Fed President Charles Evans and Philadelphia Fed President Charles Plosser, underscored a fundamental disagreement over the central bank's optimal approach to policy under new Fed Chair Janet Yellen. To Evans, one of the Fed's most dovish policymakers, allowing inflation to run above the Fed's 2-percent target would...
  • British man charged with hacking Federal Reserve

    02/27/2014 7:46:36 PM PST · by Olog-hai · 8 replies
    Associated Press ^ | Feb 27, 2014 4:17 PM EST | Larry Neumeister
    A British man accused of hacking into U.S. government computer networks was charged in a new indictment unsealed Thursday with infiltrating the Federal Reserve’s computers. Lauri Love, 28, of Stradishall, England, was charged with computer hacking and aggravated identity theft, which carry a potential penalty of up to 12 years in prison. He initially was arrested in Great Britain in October and released on bail after he was charged under a United Kingdom law that permits the arrest of anyone who starts attacks from the U.K. on computers anywhere in the world. …
  • Fed Doesn't Have Authority to Regulate Bitcoin, Yellen Says

    02/27/2014 5:05:15 PM PST · by 2ndDivisionVet · 16 replies
    National Journal ^ | February 27, 2013 | Catherine Hollander
    The Federal Reserve Board doesn't have the authority to regulate bitcoin, Fed Chair Janet Yellen said Thursday. "To the best of my knowledge, there's no intersection at all in any way between bitcoin and banks the Federal Reserve has the ability to supervise or regulate," Yellen told members of the Senate Banking Committee. "The Federal Reserve simply does not have authority to supervise or regulate bitcoin in any way." Yellen was responding to questioning from Sen. Joe Manchin, D-W.Va., who sent the Fed and other banking regulators a letter on Wednesday calling on them to ban—or at least curb—the decentralized,...
  • Fed officials wanted more power over Wall St during 2008 crisis (shocking!/s)

    02/22/2014 3:53:45 AM PST · by Red in Blue PA · 9 replies
    WASHINGTON (Reuters) - U.S. central bankers thought they should get more regulatory powers in return for providing cheap cash to Wall Street banks during the 2008 credit crisis, according to Federal Reserve transcripts released on Friday. Powerful investment banks such as Goldman Sachs (NYS:GS - News) and Morgan Stanley (NYS:MS - News) had access to a raft of measures to prop up markets during the 2008 credit meltdown, but the Federal Reserve had little say over them. "I am just a little worried about being taken advantage of here," Richard Fisher, head of the Federal Reserve Bank of Dallas, said...
  • MSNBC: Jim Crow TV

    02/06/2014 4:36:56 PM PST · by 2ndDivisionVet · 8 replies
    The American Spectator ^ | February 6, 2014 | Jeffrey Lord, former Reagan WH political director
    What were you expecting? We refer here to that dustup last week over an official MSNBC pre-Super Bowl tweet about a Cheerios commercial that featured a bi-racial family. The tweet read: Maybe the rightwing will hate it, but everyone else will go awww: the adorable new #Cheerios ad w/ biracial family, RNC Chairman Reince Priebus picked up the phone and protested directly to MSNBC president Phil Griffin. Griffin apologized, the tweet was deleted and the employee fired. Nothing to see here, folks, move on. Not so fast. Again, what were you expecting? What else could possibly make some MSNBC employee...
  • Flooding The World With New Currency Is Getting Old

    02/01/2014 7:41:36 PM PST · by Tolerance Sucks Rocks · 2 replies
    Political Outcast ^ | February 1, 2014 | Mark Horne
    A person begins heavy drinking in order to get drunk and stay drunk. Eventually, unless he stops and deals with reality, he drinks just to stay sane—until his health collapses. Likewise, a person may get high from heroin but later need the drug just to stay functional. Creating continual flows of new currency “stimulus” works in a similar fashion on the economy. Thus far, the Fed’s (now slightly reduced) monetary stimulus has kept the stock market rising. But there are signs that the drug may no longer work to get Wall Street high. According to the Financial Times, “Stocks suffer...
  • Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000

    02/01/2014 2:01:10 AM PST · by Olog-hai · 17 replies
    Cybercast News Service ^ | January 31, 2014 - 4:21 PM | Ali Meyer
    Retiring Federal Reserve Chairman Ben Bernanke, who was replaced by Janet Yellen as of today, is leaving the Federal Reserve with an unprecedented $4,102,138,000,000 in total assets on its balance sheet, up 391 percent from the $834,663,000,000 in total assets the Fed showed on its balance sheet when Bernanke took over as chairman in February 2006. Much of the increase in the Fed’s assets has come in the form of U.S. Treasury securities and Freddie Mac and Fannie Mae mortgage-backed securities that the Fed purchased over the last five years in its attempts to stimulate the economy. …
  • Tough Economic Times Ahead…and Not Just For Blacks!

    01/16/2014 6:28:02 PM PST · by 2ndDivisionVet · 7 replies
    Thy Black Man ^ | January 14, 2014 | James Davis
    The stock market has been mixed lately as a result of the Federal Reserve Bank’s (Fed) announcement that it will reduce its bond buying activities, which started December. Because tapering or reducing the purchase of government debt at very low interest rates is not good for stocks, and will cause the market to decline overtime, the Fed sugar coated its announcement of an exit from the bond market to ease market concerns. It gave market investors an organized plan of exiting the bond market over the next 12 months, and sugar coated the exit by saying if the unemployment rates...
  • Regulators release public portions of resolution plans for smaller banks

    01/16/2014 12:43:19 PM PST · by Olog-hai
    Reuters ^ | 16 JAN 2014 | Bora Yagiz
    The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) released the public portions of resolution plans for 116 institutions that submitted plans for the first time in December 2013, a group comprising smaller banks affected by Dodd-Frank requirements for winding-up plans. The Dodd-Frank Act requires that bank holding companies (and foreign companies treated as bank holding companies) with total consolidated assets of $50 billion or more and non-bank financial companies designated for enhanced prudential supervision by the Financial Stability Oversight Council periodically submit resolution plans to the Federal Reserve Board and the FDIC. Each plan must describe the...
  • The Federal Reserve Is Making A Big Mistake

    01/08/2014 12:07:11 PM PST · by Patriotic1 · 16 replies
    Forbes ^ | 9/20/2013 | Richard Finger
    The Federal Reserve did something completely unpredicted on Wednesday; nothing. So called “tapering” of QE was indefinitely placed in deep freeze………until such time as the U.S. economy is more robust. Most asset classes shot up energetically. Both the S&P and the Dow closed at all-time highs. SNIP The question to be asked is did these asset classes all react rationally. Continuing to effectively print $85 billion per month of new money after months of telegraphing at least a modicum of reduction can only translate that our economy is frail and infirm, languid if you will. SNIP Up until ten years...
  • The Fed Is Hiring: Lots Of Cops (Federal Reserve Bank)

    01/06/2014 5:50:04 PM PST · by 2ndDivisionVet · 82 replies
    Zero Hedge ^ | January 4, 2014 | Tyler Durden
    Some may have forgotten, or not be aware, that the Federal Reserve system has its own police force. Well, it does: "The U.S. Federal Reserve Police is the law enforcement arm of the Federal Reserve System, the central banking system of the United States.... Officers are certified to carry a variety of weapons systems (depending on assignment) including semi-automatic pistols, assault rifles, submachine guns, shotguns, less-lethal weapons, pepper spray, batons and other standard police equipment. Officers also wear bullet resistant vests/body armor. On October 12, 2010 President Barack Obama signed into law S.B. 1132 the "Law Enforcement Officers' Safety Act...
  • Senate confirms Yellen to chair Federal Reserve

    01/06/2014 4:15:59 PM PST · by markomalley · 19 replies
    AP ^ | 1/6/2014 | ALAN FRAM
    The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank's efforts to spur the economy with low interest rates and massive bond purchases. Yellen, 67, will replace Ben Bernanke, who is stepping down after serving as chairman for eight years dominated by the Great Recession and the Fed's efforts to combat it. Senators confirmed her by 56-26, with numerous absences caused by airline flight delays forced by arctic temperatures around much of the country. All 45 voting Democrats were joined by...
  • Obama: Yellen a ‘fierce champion’ for Americans

    01/06/2014 5:00:07 PM PST · by Olog-hai · 26 replies
    Associated Press ^ | Jan 6, 2014 6:49 PM EST
    President Barack Obama is hailing the confirmation of Janet Yellen as chair of the Federal Reserve. He says she will be a “fierce champion” for the American people. The Senate on Monday voted 56-26 to confirm her, with several senators absent due to flight delays. …
  • Conrad Black: What would Woodrow Wilson say?

    01/05/2014 9:08:24 AM PST · by rickmichaels · 61 replies
    National Post ^ | January 4, 2014 | Conrad Black
    Woodrow Wilson is widely disparaged as an ineffectual dreamer. But as A. Scott Berg’s newly published biography of the 28th President of the United States (excerpted recently on these pages) makes clear, Wilson was in fact an exceptional leader. He founded the Federal Reserve, enacted the Clayton Antitrust Act, reduced tariffs, and tried admirably to veto the lunacy of Prohibition. He is rivaled only by Thomas Jefferson, and perhaps John Quincy Adams, as the greatest intellect ever to occupy the White House. He composed his own speeches and delivered them ex tempore — often with overpowering eloquence. More important, Wilson...
  • Washington & Wall Street: Too Big to Fail and the Detroit Bankruptcy

    12/30/2013 2:49:03 PM PST · by george76 · 9 replies
    Breitbart ^ | 27 Dec 2013 | Christopher Whalen
    the bogey man known as “systemic risk” to gain advantage over the other creditors . ... In order for the OTC casino to work, the derivatives contracts had to be given special priority in bankruptcy. Speculative derivative instruments such as credit default swaps (CDS), which caused the failure and government bailout of American International Group, could never exist in significant size were in not for the safe harbor from bankruptcy for derivatives created by Congress in the 1980s and 1990s. Members of Congress from both parties were paid very well for their treachery. ... The intellectual author of the “systemic...
  • The Collapse of The American Dream Explained in Animation

    12/24/2013 8:41:54 AM PST · by Maceman · 21 replies
    The Collapse of The American Dream Explained in Animation
  • 100 Years Ago: Why Bankers Created the Fed

    12/23/2013 3:22:13 PM PST · by BfloGuy · 138 replies
    The Mises Daily ^ | 12/23/2013 | Christopher Westley
    It is little wonder that early Democrats garnered such popular support and would demand Andrew Jackson end America’s experiment with central banking. Jackson called it “dangerous to the liberty of the American people because it represented a fantastic centralization of economic and political power under private control.” It’s hard to believe that guy who said that is now on the $20 bill. Jackson also warned that the Bank of the United States was “a vast electioneering engine” that could “control the Government and change its character.” These sentiments were echoed by Roger Taney, Jackson’s Treasury Secretary, who talked of the...
  • Killing the Middle Class-Federal Reserve continues to sign on to Obama’s war on the poor

    12/20/2013 5:07:26 AM PST · by SJackson · 14 replies
    FrontPage Magazine ^ | December 20, 2013 | Arnold Ahlert
    - FrontPage Magazine - http://www.frontpagemag.com - Killing the Middle ClassPosted By Arnold Ahlert On December 20, 2013 @ 12:50 am In Daily Mailer,FrontPage | No Comments If one takes the mainstream media seriously, Ben Bernanke’s announcement that the Federal Reserve would begin “tapering” its purchase of government bonds and mortgage securities by $10 billion dollars per month was the reason for Wall Street’s rally on Wednesday. Yet as the chart here reveals, the reaction to the Fed’s decision was a rapid and precipitous drop first, followed by a large rally, when Bernanke dropped the far more important shoe: interest rates would remain near zero for the foreseeable...
  • Dow, S&P end at record highs after Fed's stimulus cut

    12/18/2013 1:16:37 PM PST · by NormsRevenge · 36 replies
    Yahoo Finance ^ | 12/18/13 | Angela Moon - Reuters
    NEW YORK (Reuters) - The Dow and the S&P 500 closed at all-time highs on Wednesday after the Federal Reserve announced a small reduction in its stimulus program, confirming that the U.S. economy was on firm footing.
  • Janet Yellen And The Fed Caught In a Bear (Liquidity) Trap And Why Interest Rates Will Remain Low

    11/24/2013 10:04:06 AM PST · by whitedog57 · 30 replies
    Confounded Interest ^ | 11/24/2013 | Anthony B. Sanders
    The recent confusion from The Fed over the future of quantitative easing (or money printing) can be addressed with a few charts. Here is a chart of real GDP growth PER CAPITA since 1960. Real, of course, indicates that it is Gross Domestic Product adjusted for inflation. Note that Q1 1984 was the peak of real GDP growth … and it has been a steady decline since then. realgdppercap I added the S&P 500 index to the real GDP per capita chart and you can see that the S&P 500 index spikes when real GDP growth is higher than average...
  • Senate Panel Green Lights Janet Yellen for Fed Chief

    11/24/2013 8:32:28 AM PST · by Son House · 11 replies
    Fox News ^ | Nov 21, 2013 | Matt Egan
    Yellen currently serves as vice chairman of the Fed and as a reliable dove would represent continuity with Bernanke. She has consistently supported Bernanke’s easy-money policies and even seems open to more aggressive moves to fight stubbornly-high unemployment. "I consider it imperative that we do what we can to promote a very strong recovery," Yellen said during her confirmation hearing. Yet Senate Majority Leader Harry Reid announced plans on Thursday to enact the so-called "nuclear option," which would change Senate rules to allow him to approve certain motions with a simple majority rather than 60 votes. Yellen, who was among...
  • Yellen Strikes Out

    11/16/2013 8:37:31 AM PST · by george76 · 11 replies
    The New York Sun ^ | November 14, 2013
    Vice Chairman Yellen’s testimony before the Senate this morning moves us to oppose her confirmation to succeed Chairman Bernanke at the Federal Reserve. We don’t mind saying it’s an odd position for us, since we have great regard for her capacity as a forecaster, her character, and her comportment. She displays none of condescension that Mr. Bernanke so often allowed to show (we once expressed surprise that he wasn’t held in contempt). What transports us into the opposition is Mrs. Yellen’s truculence on the issue of auditing the Fed. ... Senator Vitter .. speaks for a faction in the upper...
  • Janet Yellen’s Fed Has The Makings Of A Potential Disaster

    11/15/2013 11:34:17 PM PST · by Olog-hai · 13 replies
    Forbes ^ | 11/06/2013 @ 8:00AM | Keith Weiner
    President Obama has nominated Janet Yellen to be the next Federal Reserve Chairman. We need to know what she stands for if we want to predict what the central bank will do to us next. Clearly, Yellen will continue Bernanke’s Quantitative Easing, but her papers and speeches show that she is quite different from her predecessor. … … Yellen is all central planner. She gets her ideas, not from Friedman, but from John Maynard Keynes. Keynes did not trust markets, preferring government intervention. His prescribed solution to recession and unemployment is for the government to increase spending and the central...
  • Cruz Backs Paul’s Strategy for Audit the Fed Vote

    11/13/2013 7:39:10 PM PST · by Tailgunner Joe · 3 replies
    rollcall.com ^ | November 13, 2013
    Sen. Ted Cruz announced Wednesday that he is backing an effort by fellow Republican Rand Paul of Kentucky to get a vote on auditing the Federal Reserve as a condition for considering the nomination of Janet L. Yellen to be chairwoman of the Fed. “I agree with Rand Paul: before the Senate votes on whether to confirm Janet Yellen, we should at the very least allow a vote on the Audit the Fed bill,” the Texas Republican said in a statement. “The Federal Reserve has expanded our money supply by trillions, benefiting Wall Street but making life harder for millions...
  • Peter Klein in IBDinvestors: It's Not Yellen That's The Problem, But The Fed Itself

    11/06/2013 7:32:25 PM PST · by theBuckwheat · 4 replies
    IBDinvestors ^ | 11/05/2013 | Peter Klein
    ... The Federal Reserve is the most important economic planning agency in the world. It's charged with promoting full employment, stabilizing prices, and overseeing the financial sector. So the new chair's theoretical views, management style, and personality quirks could affect trillions of dollars of economic activity. Is it wise to hand such extraordinary power to an elite cadre of economists and bureaucrats? The pretenses of top-down planning have been debunked by history. Throughout the last century, every nation that adopted central planning had its economy flounder. Even at the microeconomic level, the limits of top-down planning are increasingly obvious.
  • Inflation Increases 43 Percent More Under Obama Than Bush

    10/30/2013 8:07:38 PM PDT · by Olog-hai · 5 replies
    Cybercast News Service ^ | October 30, 2013 - 7:49 PM | Ali Meyer
    Since Ben Bernanke has been in control of the Federal Reserve, inflation has increased 43 percent more under President Barack Obama than George W. Bush, according to data from the Bureau of Labor Statistics. “Inflation can be defined as the overall general upward price improvement of goods and services in an economy,” the Bureau said. By evaluating the Consumer Price Index (CPI) data, increases in inflation can be evaluated. …
  • Fed maintains strong stimulus as U.S. growth stumbles

    10/30/2013 11:37:27 AM PDT · by NormsRevenge · 41 replies
    Yahoo! News ^ | 10/30/13 | Pedro da Costa and Alister Bull - Reuters
    WASHINGTON (Reuters) - The Federal Reserve extended its support for a slowing U.S. economy on Wednesday, sounding a bit less optimistic about growth and saying it will keep buying $85 billion in bonds per month for the time being. In announcing the widely expected decision, Fed officials nodded to weaker economic prospects due in part to a fiscal fight in Washington that shuttered much of the government for 16 days earlier this month. The Fed indicated the recovery in housing had lost some steam, while noting some reversal in a recent spike in borrowing costs. "Available data suggest that household...