Keyword: federalreserve

Brevity: Headers | « Text »
  • 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...
  • Why We're No Longer Number One

    05/06/2014 1:40:14 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | May 6, 2014 | Ron Paul
    Last week World Bank economists predicted that China would soon displace the United States as the world's largest economy. The fact that this one-time economic basket case is now positioned to surpass the US is one more sign of the damage done to American prosperity by welfare, warfare, corporatism, and fiat money. Some commentators have predicted that China's reign as the world's largest economy would not last long. This may be true. While China has made great strides since adopting free-market reforms in the 1970s, China is still run by an authoritarian government whose economic policies distort the market in...
  • Fed shows faith in US economy

    04/30/2014 8:20:47 PM PDT · by Rabin · 11 replies
    Bueno Asarii Herald ^ | April 30, 2014 | USFR press release
    The Federal Reserve look, dismal quarterly US "growth" and gave a mostly upbeat assessment Recent information "indicates that growth in economic activity has picked up ... "What the Fed is saying",ignore this first quarter number (AS) government reported that the economy grew at only a 0.1 percent annual "rate in a quarter", ... other recent data that has suggested activity is "bouncing" back. she said the nation may be more than two years away from what the Fed views as the new normal unemployment rate" of between 9 percent and 14 percent.
  • Janet Yellen is shocked that the Fed’s price models don’t work

    04/27/2014 12:07:12 PM PDT · by Kaslin · 47 replies
    Townhall.com ^ | April 27, 2014 | Nick Sorrentino
    So are we. Just shocked. Hey, at least she said it publicly. That’s more than Mr. Bernanke ever did. Ms. Yellen says doesn’t understand why inflation is running hotter in the US than her models say it should be and why it ran cooler in Japan recently than her models predicted. Models, it’s always the models with Keynesians. Many modern economists like to think of themselves as scientists, or at least something close to scientists. But instead of white coats they wear tweed jackets and instead of verifiable results they produce excuses. Ok that’s a bit harsh but it’s not...
  • A fading middle-class perk: lower mortgage rates

    04/25/2014 9:25:04 AM PDT · by Olog-hai · 21 replies
    Associated Press ^ | Apr 25, 2014 12:06 PM EDT | Josh Boak
    For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more. Rates for a conventional 30-year fixed mortgage are averaging 4.48 percent, according to Bankrate. For “jumbo” mortgages—those above $417,000 in much of the country—the average is 4.47 percent. …
  • 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 · 106 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...