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Keyword: federalreserve

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  • Woodrow Wilson, Progressive Bogeyman

    11/20/2015 3:36:07 PM PST · by ProgressingAmerica · 37 replies
    National Review ^ | November 20th, 2015 | John Fund
    The racially charged protests that have roiled 23 universities from Yale to the University of Missouri in recent weeks reached Princeton on Wednesday. Members of the Black Justice League left their classes and occupied historic Nassau Hall, which houses the Princeton administration's offices. They demanded that officials acknowledge the racist legacy of Woodrow Wilson - who was president of Princeton before becoming president of the United States and expunge his name from anything named after him. They further demanded "cultural competency training" for anyone teaching at Princeton, courses on the "history of marginalized people," and a designated public space for...
  • The House Just Passed Another Bailout, This Time for Highways and Transit

    11/06/2015 8:44:03 PM PST · by Tolerance Sucks Rocks · 28 replies
    The Daily Signal ^ | November 5, 2015 | Michael Sargent
    Today, the House overwhelmingly passed the Surface Transportation Reauthorization and Reform Act (STRR) to much fanfare.The six-year, $325-billion bill reauthorizes highway and transit funding from the federal Highway Trust Fund that was set to expire on November 20. The bill is being heralded as no less than a historic “long-term” measure, emerging after “ten years of short-term band-aids and extensions.”But make no mistake: Despite the bill’s name and the exhortations of its admirers, STRR is another status quo bailout, plain and simple.It follows in a long line of short-term bailouts that do nothing to fix the chronic overspending and misallocation...
  • Fed’s Yellen sees possible December rate rise, gradual hiking path

    11/05/2015 6:52:02 AM PST · by Olog-hai · 6 replies
    Reuters ^ | Wed Nov 4, 2015 8:50pm EST | Howard Schneider and Jason Lange
    Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery. [...] Her remarks pushed bond yields higher and stocks lower. They also caused investors to reset their expectations of a December rate hike above 60 percent, a sign that markets are finally taking the Fed's language seriously after a period in which U.S. central bankers were frustrated by the gap between their own outlook and market bets about their likely course of action. ...
  • QE's Creeping Communism [Peter Schiff]

    11/04/2015 7:53:46 AM PST · by ReaganGeneration2 · 8 replies
    Euro-Pacific Capital ^ | November 3, 2015 | Peter Schiff
    Most economists and investors readily acknowledge that the current period of central bank activism, characterized by extended bouts of quantitative easing and zero percent interest rates, is a newly-blazed trail in economic history. And while these policies strike some as counterintuitive, open-ended, and unimaginably expensive, most express comfort that our extremely educated, data-dependent, central bankers have a pretty good idea as to where the trail is going and how to keep the wagons together during the journey. But as it turns out, there really isn't much need for guesswork. As the United States enters its eighth year of zero percent...
  • Why The Fed Is Ready To Hike Despite Weak Jobs Report

    10/27/2015 3:57:53 AM PDT · by expat_panama · 71 replies
    Investors Busniness Daily ^ | 10/26/2015 | ANDREA RIQUIER
    Was the dismal September jobs report the nail in the coffin for a 2015 interest-rate rise? Markets are acting as if it were, even as some economists think Federal Reserve officials see things differently. Monthly job gains, which had averaged over 200,000 for most of the year, plunged to 142,000 in September and a downwardly revised 136,000 in August. Private hiring was the weakest in three years. The workweek and labor-force participation rates also declined even further. Meanwhile, other data showed U.S. manufacturing and retail sales nearly stalled last month... *** There's Always Next Season An hour after the jobs...
  • The Surprising Disappearance of Inflation

    10/22/2015 8:43:19 AM PDT · by Kaslin · 99 replies
    Townhall.com ^ | October 22, 2015 | Steve Chapman
    In a world in which the Cold War is a fading memory, North Korea and Cuba endure as museums of communism, so no one will forget how criminally insane it always was. In a world haunted by the specter of persistently falling prices, some countries are creating severe inflation, so we can be grateful for its virtual disappearance. One of the governments providing this public service is that of Venezuela, where the currency has lost so much value that even robbers reject it. A recent carjacking victim told The New York Times his armed captors had no interest in his...
  • Is the Federal Reserve Really the Evil Empire?

    10/22/2015 6:17:34 PM PDT · by george76 · 6 replies
    Barrons ^ | October 21, 2015 | John Kimelman
    Two new books are reigniting a century-old debate about the central banks worthiness. So what do we think of the Federal Reserve, the people who run it, and the role it plays in setting short-term rates and even influencing investment portfolios? While the modern Fed has its supporters, the detractors seem to get most of the ink. As veteran financial journalist Roger Lowenstein wrote in a recent column for The Wall Street Journal, No federal agency, except the Internal Revenue Service, is held in lower regard than the Federal Reserve, according to public opinion surveys. ... The never-ending debate about...
  • When Enemies Infiltrated the White House ( Harry Dexter White and fellow travelers )

    10/21/2015 10:30:39 AM PDT · by george76 · 19 replies
    FrontPage Magazine ^ | March 10, 2013 | Daniel Greenfield
    How a Soviet mole in FDR's inner circle triggered Pearl Harbor and its dire relevancy to our conflict today. ... On December 7, 1941, 353 Japanese aircraft delivered a shocking blow .. Nearly seven years later, Harry Dexter White, a senior official in the Roosevelt Administration, appeared to testify before the House Committee on Un-American Activities . Numerous witnesses, including Whittaker Chambers and Elizabeth Bentley, had implicated White in involvement with the Communist Party and the Soviet Union. ... Harry Dexter White, a Harvard PhD and Assistant Treasury Secretary, had played a major role in creating the World Bank...
  • A Historical Perspective: The Banking Monopoly

    10/21/2015 4:35:26 AM PDT · by george76 · 3 replies
    The Banking Swindle ^ | 02/20/2014 | Stack Jones
    In 1913, the U.S. Congress passed a bill called the Federal Reserve Act of 1913. This bill allowed an independent group to privatize, and take control of Americas monetary system. The Federal Reserve Banks name was chosen to deceive the American people into believing that it is a branch of the U.S. government. It isnt. This privately held monopoly gives great power to a handful of international bankers ... The Federal Reserve has no reserves. The name was created prior to the Federal Reserve Act being passed in 1913. This was done to make Americans believe the U.S. banking system...
  • Why Americans Dont Trust the Fed [FED BASHING IS A LONG STANDING TRADITION]

    10/18/2015 4:08:05 AM PDT · by expat_panama · 35 replies
    Wall Street Journal ^ | Oct. 16, 2015 | Roger Lowenstein
    Antipathy to the central bank is a uniquely American tradition. No federal agency, except the Internal Revenue Service, is held in lower regard than the Federal Reserve, according to public opinion surveys. The left accuses the Fed of being too cozy with banks; the right says it is planting the seeds of a massive inflation. [snip] ...President James Madison, previously an opponent, argued that a bank could be useful... [snip] ...the Second Bank strengthened Americas currency and finances, Andrew Jackson reviled it as a tool of privilege. He vowed to kill it, and did. Tocqueville concluded that Americans are obviously...
  • Congress Declares Martial Law as Dollar Rapidly Collapsing: Living in Last Days of This Republic.

    10/09/2015 6:25:58 AM PDT · by HomerBohn · 24 replies
    SHTF Plan ^ | 10/8/2015 | Marc Slavo
    The debt ceiling issue is returning to the forefront in American politics, again threatening a government shutdown. Last time, the shutdown resulting in sequester for many agencies that suspended work for many government employees; a great deal of political theater dominated the news cycle; but ultimately, things returned to a basic normalcy. This time may be different, as a number of critical factors face Americans in 2015. Last week, Congress passed procedural martial law to address stop-gap spending as it faces the debt ceiling crisis again. Meanwhile, this quietly announced martial law forced a vote on bills the same day,...
  • Bernanke: Wall St execs should have gone to jail for crisis

    10/04/2015 2:44:39 PM PDT · by VinL · 26 replies
    Kans.City.com ^ | 10/4/15 | staff
    Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession. Billions of dollars in fines have been levied against major banks and brokerage firms in the wake of the economic meltdown that was in large part triggered by reckless lending and shady securities dealings that blew up a housing bubble. But in an interview with USA Today published Sunday, Bernanke said he thinks that in addition to the corporations, individuals should have been held more accountable....
  • Fed Chair Janet Yellen 'dehydrated,' abruptly ends UMass talk on interest, inflation

    09/24/2015 5:00:55 PM PDT · by LostInBayport · 36 replies
    Mass Live ^ | September 24, 2015 | Jim Kinney
    AMHERST - Federal Reserve Board Chair Janet Yellen said Thursday that she expects the Fed to raise interest rates later this year and then continue gradual increases thereafter during a University of Massachusetts address that ended with her seeking medical attention. A spokesman for the university said the 69-year-old was fine after being checked out by EMTs and was to continue her schedule which included a faculty dinner at the home of Chancellor Kumble Subbaswamy. A spokesman for the Federal Reserve Board said, "Chair Yellen felt dehydrated at the end of a long speech under bright lights. As a precaution,...
  • Fed Audit Shocker: They Come from Planet Klepto(maniac)

    09/20/2015 2:17:29 PM PDT · by entropy12 · 5 replies
    Youtube ^ | Sep 14, 2015 | Best Evidence
    While the world breathlessly awaits the outcome of this weeks FOMC meetingwill the Federal Reserve raise interest rates or wont it?one thing is clear regardless: the Fed is driving the U.S. into a 2nd depression in order to carry out its one and only remit now that Americas ability to produce real jobs has been reduced to ash, namely, propping up criminal banks with multi-trillion-dollar giveaways. Whats so disturbing about the fatal path that the Fed has been on for 7 years is that it's one the Fed went down before, whenby its own admissionit extended and deepened the Great...
  • U.S. stocks tumble as Fed sows fear and confusion

    09/18/2015 2:43:52 PM PDT · by John W · 13 replies
    marketwatch.com ^ | September 18, 2015 | Sue Chang
    U.S. stocks sank Friday, with the S&P 500 and the Dow Jones Industrial Average closing down for the week, as Federal Reserves decision to leave interest rates unchanged fueled fears about global economic growth. The central bank cited concerns about the global economy and a lack of inflation growth in its Thursday decision to leave interest rates unchanged. Many are confused by the outcome of the recent Fed meeting, said Kent Engelke, chief economic strategist at Capitol Securities Management. Markets hate confusion and lack of clarity. The S&P 500 skidded 32.16 points, or 1.6%, to close at 1,958.08 for a...
  • Janet Yellen: The Fed chair who cried wolf? (Does anyone think this woman is competent?)

    09/18/2015 3:22:43 PM PDT · by bestintxas · 19 replies
    Fortune ^ | 9/17/15 | Chris Matthews
    The market is calling the Feds bluff on raising interest rates. The Feds September meeting has come and gone, and interest rates remain at zero. The reasoning behind the Feds decision is sound. With emerging market economies in various states of disarray, global markets have responded by keeping energy prices low and the dollar strong. These forces have conspired to keep inflation here at home quite low. Federal Open Market Committee members median projection of inflation for 2015 is just 0.4%, well below its 2% target, which it has failed to reach for close to a decade.
  • US Federal Reserve holds rates steady in nod to global economic weakness

    09/17/2015 1:10:52 PM PDT · by SeekAndFind · 4 replies
    The Economic Times ^ | 09/17/2015 | Via Reuters
    WASHINGTON: The US Federal Reserve kept interest rates unchanged on Thursday in a nod to concerns about a weak world economy, but left open the possibility of a modest policy tightening later this year. In what amounted to a tactical retreat, the US central bank said an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade. "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the Fed said in...
  • U.S. Equity Futures Slip as Fed's Rate Decision Looms

    09/17/2015 5:37:33 AM PDT · by citizen · 62 replies
    Fox News Business ^ | September 17, 2015 | Victoria Craig
    Fed decision day: The event traders across the globe have anticipated for months has finally arrived. As of 8:00 a.m. ET, Dow Jones Industrial Average futures were 43 points lower, or 0.26% to 16621. S&P 500 futures shed 6 points, or 0.31% to 1982, while Nasdaq 100 futures slid 10 points, or 0.24% to 4370. Todays Markets Months of speculation about whether September was the month in which the Federal Reserve would begin to lift short-term interest rates is finally coming to a close. The Federal Open Market Committee meets for the final day of its two-day policy-setting meeting, which...
  • Interest-rate hike could tank stocks by 40%

    09/10/2015 2:31:51 AM PDT · by SkyPilot · 157 replies
    WND ^ | 9 Sep 15 | Jerome R. Corsi
    Despite the stock markets return to triple-digit gains on Tuesday in apparent response to signs that China will take steps to stimulate its economy, bankers worldwide are warning a decision by the Federal Reserve to increase interest rates next week could precipitate a stock-market collapse. Deutsche Bank, the European Unions biggest bank, has grabbed attention by issuing a warning to the Federal Reserve that a rise in U.S. interest rates now would constitute nothing less than a premeditated controlled demolition that could cause global stock markets to collapse a dramatic 40 percent. The Federal Reserve is scheduled to decide...
  • Al Qaeda Mag Urges Attack on Koch Brothers, Buffett, Bloomberg

    09/09/2015 8:05:16 PM PDT · by Jet Jaguar · 20 replies
    NBC ^ | Sept 9, 2015 | ROBERT WINDREM and TRACY CONNOR
    A notorious al Qaeda magazine is encouraging lone-wolf terrorist attacks on U.S. economic leaders, including Bill Gates, Michael Bloomberg and Warren Buffett. The list in Inspire magazine also included industrialist brothers Charles and David Koch, internet entrepreneur Larry Ellison, and casino magnate Sheldon Adelson. A prominent economist was also on the list but asked that his name be withheld. Federal Reserve chairman Ben Bernanke was named, though not Janet Yellen, who succeeded him. Also pictured was Jim Walton, one of the heirs to the Wal-Mart fortune, although he was misidentified in the caption as his late father, Sam Walton. Several...
  • European Central Bank ready to give eurozone more stimulus

    09/03/2015 7:56:02 AM PDT · by Olog-hai
    Associated Press ^ | Sep 3, 2015 10:47 AM EDT | David McHugh and Pan Pylas
    The European Central Bank is ready to give the eurozone economy a bigger dose of stimulus if turmoil in China and weaker global growth hurt its modest recovery, President Mario Draghi said Thursday. Market volatility, concern over the effects of a looming interest rate increase in the U.S. and a drop oil prices have spawned uncertainty over the global economy, leading the ECB to cut its inflation and growth forecasts for the eurozone. Draghi said the ECB can add to its 1.1 trillion ($1.2 trillion) program if needed to raise inflation or support growth. [] The stimulus is intended to...
  • Rattled investors brace for big week as Federal Reserve considers rate increase

    08/31/2015 3:55:28 AM PDT · by expat_panama · 10 replies
    The Guardian ^ | Sunday 30 August 2015 | Rupert Neate
    After a tumultuous week on the worlds stock markets, investors will be focused on Wall Street Monday ahead of another set of economic reports likely to steer the Federal Reserves decision on whether to raise interest rates for the first time in almost a decade. The markets open Monday as investors digest news that the Fed is still actively considering a September rate hike. In a speech on Saturday, Stanley Fischer, the vice-chair of the Feds Board of Governors, suggested inflationary pressures could soon lead to an increase. His comments are likely to add to the volatility of already skittish...
  • Who Is Really Crazy, End The Fed, Or The Fed Itself?

    08/28/2015 2:15:11 PM PDT · by absentee · 19 replies
    The American Spectator ^ | 8/28/2015 | Caleb Howe
    On Friday morning at the Jackson Hole Summit, Judy Shelton of the Sound Money Project and Atlas Network spoke on the subject of the gold standard and addressed the perception that people who even dare to mention it are lunatics or, as The American Spectator noted earlier today, Quixotic. Shelton's presentation focused in the main on the numbers and the policies. Dr. Shelton pointed out that the Fed can't seem to face up to a simple, apparent, easily understood fact: Their policies aren't working. "The difference between our summit, and the one the Feds are holding up the road, is...
  • The Central Bankers Malodorous War On Savers

    08/28/2015 8:23:19 AM PDT · by PGR88 · 10 replies
    David Stockman's Contra Corner ^ | August 28, 2015 | David Stockman
    To wit, artificial suppression of free market interest rates by the central bank is designed to cause households to borrow more money than they otherwise would in order to spend more than they earn, pure and simple. Its nothing more than a modernized version of the original, crude Keynesian pump-priming theoryexcept it dispenses with the inconvenience of getting politicians to approve spending increases and tax cuts in favor of the writ of a small posse of unelected monetary mandarins who run the FOMC and peg money market interest rates at will. But the whole enterprise is a crock. The consumer...
  • In Less Than 10 Years, The Federal Reserve Has Driven Millions Of American Women Into Prostitution

    08/24/2015 6:03:15 PM PDT · by SeekAndFind · 26 replies
    Zero Hedge ^ | 08/24/2015 | Tyler Durden via SouthBay Research
    Submitted by SouthBay Research Hookernomices: In less than 10 years, the Federal Reserve Has Driven Millions of American Women into ProstitutionMainstreaming Prostitution: Beginning last year, the Bank of England included prostitution in GDP measurements. According to the Office of National Statistics, prostitution generated $9B a year, adding 0.7% to the UK GDP. They aren't alone: Sweden, Norway and a few other European countries already include it. And if you can measure it, you can tax it. And legalization is necessary for measurement.Prostitution is legal in most of the developed world. In fact, of the G20 countries, prostitution is illegal...
  • The Federal Reserve's foolishness is coming due

    08/24/2015 7:05:22 AM PDT · by SeekAndFind · 8 replies
    American Thinker ^ | 08/24/2015 | By James Longstreet
    All one needs to do is turn to the financial shows and get a litany of financial experts blaming the Federal Reserve and its coming rate hike for the recent market break. They are incorrect. The recent break in equity prices is not about a proposed and measly point rise in rates off of zero. Short term rates were between 4% and 5% in 2007 when the stock market made a then all time high of 14,000. Hand wringing over a pt raise is curious. The Federal Reserves mere hinting of a meager raise didnt roll the Chinese...
  • Staring into a void, investors pull cash from harm's way

    08/20/2015 5:29:26 PM PDT · by SkyPilot · 59 replies
    Yahoo Finance ^ | 20 Aug 15 | By Michael Santoli
    If nature abhors a vacuum, investors arent so crazy about them either. Its hard to avoid all the voids right now. The August Wall Street vacation evacuation is well underway, markets are facing an absence of inflation, huge air pockets underneath commodities and emerging-market currencies and a vexing lack of clarity about what the Fed might do in less than a months time. The collective response to this environment devoid of strong conviction has been to pull cash out of riskier markets and wait. Barclays Capital says more than $90 billion has sought the shelter of money-market funds in...
  • Economists Brace for September: Building Up to Catastrophe of Historic Proportions

    08/18/2015 3:49:31 PM PDT · by Kartographer · 38 replies
    SHTF Plan ^ | 8/18/15 | Mac Slavo
    Is the collapse imminent, and our very way of life under threat of total global meltdown? Perhaps the signs and warnings are there, at every level, for those who want to see it. An outright panic has taken hold over many who see September 2015 as a convergence of ominous events including the Popes visit to America, the United Nations summit on Agenda 21-like development, expectations for a stunning policy change at the Federal Reserve, unprecedented experiments at CERN and the end of the seven year business cycle, a date that has already seen the tragic events of 9/11...
  • I Sure Am Glad There's No Inflation

    08/05/2015 10:02:49 AM PDT · by RedMominBlueState · 41 replies
    Oftwominds.com ^ | August 5, 2015 | Charles Hugh Smith
    I sure am glad there's no inflation, because these "stable prices" the Federal Reserve keeps jaw-jacking about are putting us in a world of hurt. Those of us outside the inner circles of power are glad there's no inflation, because we'd rather get more for our money (deflation) rather than less for our money (inflation). You know what I mean: the package that once held 16 ounces now only holds 13 ounces. A medication that once cost $79 now costs $79,000. (This is a much slighter exaggeration than you might imagine.) Despite all these widely known examples of rampant inflation,...
  • Question. Does US government have accounts at NY Federal reserve?

    07/29/2015 7:24:58 PM PDT · by grumpygresh · 25 replies
    7/29/15 | Grumpygresh
    I'm working on a settlement with a Federal government agency (not IRS). The settlement agreement calls for payment to be wired to an account at the NY Fed. We all know that the Fed is a privately held central bank and not owned by U.S. Does the U.S. Gov have accounts there and why? It seems that money should be sent to US treasury. BTW, they insisted on a wire and not a check. Anyone with legal/financial knowledge would be helpful.
  • Tipton: Federal red tape hurts small banks ( Colorado and .. )

    07/24/2015 8:36:25 AM PDT · by george76 · 6 replies
    Durango Herald ^ | July 23, 2015 | Mariam Baksh
    financial reform increases staffing costs. Small banks are struggling to comply with the Dodd-Frank Act, which was passed to regulate the financial industry in the wake of the 2008 financial crisis, said Rep. Scott Tipton. The Republican from Cortez received some national attention this week for challenging Federal Reserve Chairwoman Janet Yellen to support his plan to ease the burden of Dodd-Frank on small banks. ... Mike Burns, president of Alpine Bank for the Southwest region, said in a phone interview that Dodd-Frank is creating head winds. We really want to focus our time and energy in supporting the communities...
  • Federal Reserve blames immigrant kids for robbing jobs from 'native' U.S. teens

    07/19/2015 7:54:58 AM PDT · by GoneSalt · 38 replies
    Washington Examiner ^ | July 16, 2015 | Paul Bedard
    American teen employment has dropped 20 percent from the late 1980s, in part because more and more immigrants have flooded into the market to displace native-born kids from jobs in percentages far higher than on adults, according to the Federal Reserve. "The displacement effect of immigration on the employment of younger persons is much larger than on the employment of prime-age adults," said the September 2014 report, "Labor Force Participation: Recent Developments and Future Prospects."
  • Texas Launches Gold-backed Bank, Challenging Federal Reserve

    07/15/2015 4:37:37 PM PDT · by VitacoreVision · 55 replies
    The New American ^ | 15 July 2015 | Alex Newman
    The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas.While some analysts have said the move may be another sign heralding Texas eventual...
  • Federal Reserve Vice Chairman Says Economy Is Nearing Full Unemployment

    07/01/2015 7:05:30 AM PDT · by Enlightened1 · 36 replies
    Gateway Pundit ^ | 06/30/15 | Jim Hoft
    Federal Reserve Vice Chairman Says Economy Is Nearing Full Unemployment Real Unemployment Closer to 42.9% Jim Hoft Jun 30th, 2015 5:42 pm 19 Comments According to the Federal Reserve Bank in St. Louis the labor participation rate is at its lowest point since the Carter years. fred labor part rate Federal Reserve Vice Chairman Stanley Fischer told a an audience at Englands Oxford University this week that the US economy is nearing full unemployment. Reuters reported: The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is...
  • Mankiller Money?

    06/24/2015 5:41:28 AM PDT · by Kaslin · 46 replies
    Townhall.com ^ | June 24, 2015 | John Stossel
    A woman will be on the new $10 bill, bumping Alexander Hamilton aside. Treasury Secretary Jack Lew says he will choose the woman by year's end, based on "input from the public." In one survey of the "public," the first female chief of the Cherokee Nation, Wilma Mankiller, placed fourth. I understand the wish to counter sexism prevalent in early America, but "Mankiller?" The name alone probably reveals something about the attitude of some of those voters. Fortunately, more voted for Harriet Tubman. Tubman escaped slavery to become a leader of the Underground Railroad, then repeatedly returned to slave territory...
  • Executive Branch could lose much of its unconstitutional power

    06/21/2015 10:18:45 AM PDT · by Oldpuppymax · 31 replies
    Coach is Right ^ | 6/21/15 | Doug Book
    An injunction issued against the Securities and Exchange Commission (SEC) by federal judge Leigh Martin May could spell the beginning of the end for Administrative Law Courts and with them, 80 years of unconstitutional abuse of power by the Executive branch. Administrative Law allows for the creation of public regulatory agencies and contains all of the statutes, judicial decisions, and regulations that govern them. These regulatory bodies include the EPA and the SEC. Many came into being during the reign of Franklin Roosevelt, the one president more arrogant and power hungry than Barack Obama. The law itself is created by...
  • Judge: Feds overstepped with AIG bailout

    06/15/2015 11:23:35 AM PDT · by Theoria · 11 replies
    The Hill ^ | 15 June 2015 | Peter Schroeder
    A court ruled Monday that the federal government was unduly harsh in its takeover of AIG during the financial crisis, but refused to award the companys former head any damages. The ruling draws to a close the high-profile lawsuit against the federal government, brought by Maurice "Hank" Greenberg, the former head of the insurance giant, and other AIG shareholders under the umbrella of Starr International. In his ruling, Judge Thomas Wheeler determined the federal government violated the Constitution by stepping in and effectively seizing the insurance company during the crisis, even if the takeover was intended to save the company...
  • Greenspan: US 'Way Underestimating' the National Debt

    06/07/2015 7:02:37 PM PDT · by BradtotheBone · 45 replies
    Newsmax ^ | Sunday, 07 Jun 2015 11:35 AM
    Alan Greenspan, former chairman of the Federal Reserve, said a Social Security Trust Fund does not exist and that the U.S. is way underestimating the size of its national debt. The notion that we have a trust fund is nonsense that trust fund has no meaning whatsoever except for the fact as an all private fund to benefit programs, if it runs out of money, you can only pay out in cash flows that come in but the probability that will happen is not particularly high, Greenspan recently told the Fiscal Summit held by the Peter G. Peterson Foundation,...

    06/04/2015 12:04:46 PM PDT · by Wiz-Nerd · 28 replies
    WSJ ^ | June 2, 2015 | Jon Hilsenrath
    Dear American Consumer, This is The Wall Street Journal. Were writing to ask if something is bothering you. The sun shined in April and you didnt spend much money. The Commerce Department here in Washington says your spending didnt increase at all adjusted for inflation last month compared to March. You appear to have mostly stayed home and watched television in December, January and February as well. We thought you would be out of your winter doldrums by now, but we dont see much evidence that this is the case. You have been saving more too. You socked away 5.6%...
  • Either rap is dead or I have to vote for Ted Cruz now

    05/29/2015 10:11:02 AM PDT · by 2ndDivisionVet · 21 replies
    The Washington Post's ComPost Blog ^ | May 29, 2015 | Alexandra Petri
    Either Ted Cruz is hip or rap is dead. I am not sure which. It has to be one of the two. A group called We Are Watchmen, a Christian rap group from the Chicago suburb of Westchester, has made what can be loosely described as a rap paean to Ted Cruz. It is entitled Set It On Fire. It is about four minutes long, and if you listen to it enough times, every ounce of hipness drains from your body and you become Donny Osmond. (VIDEO-AT-LINK)The title is misleading. The gist of the song is that you should vote...
  • Federal Reserve: These states are stealing from the poor

    05/29/2015 5:30:02 AM PDT · by ro_dreaming · 45 replies
    Houston Chronicle ^ | 26 May 2015 | John-Henry Perera
    A team of researchers at the Federal Reserve are pointing fingers at more than a handful of states they say are actively undermining the government's attempts to curb income inequality. According to a new paper, the federal tax code works to compress income inequality across the U.S., a problem that has been growing since 1980. The general idea is that high earners should be taxed at higher rates, allowing a good portion of that revenue to go into programs that help lower-income people. In contrast, some states have instituted "regressive" tax policies that offset federal taxes and widen the growing...
  • Feds Bullard says he now favors targeting nominal GDP

    05/28/2015 10:12:50 AM PDT · by Oldeconomybuyer · 2 replies
    Market Watch ^ | May 28, 2015 | By Greg Robb
    The uneven results of the Federal Reserves monetary policy since the financial crisis should cause new thinking about how to conduct interest rate policy, said St. Louis Fed President James Bullard on Thursday in advocating for a new, controversial target. Standard economic theory predicted that the Feds decision to leave rates at zero and buy trillions of dollars of bonds would result in a consumption boom and above-average inflation, but that has not happened, sending economists back to the drawing board. Under Bullards proposal, the Fed would set an overall inflation target. In good times, the central bank would keep...
  • Bank Bashing, the Modern Nero's Fiddle [Holman W. Jenkins, Jr.]

    05/26/2015 7:09:30 AM PDT · by SunkenCiv · 13 replies
    Wall Street Journal ^ | May 22, 2015 | Holman W. Jenkins, Jr.
    Received wisdom about the 2008 financial crisis has not been faring well lately. Peter Wallison, a scholar at the American Enterprise Institute, demonstrates in a new book that the subprime housing boom was fostered mainly by federal housing politics and policy, not by the rampant "deregulation" that many have imagined out of whole cloth. Another revelation: The New York Fed staff, as we belatedly learned last year, prepared an analysis showing that Lehman at the time of its collapse was theoretically solvent after all... OK, what about "too big to fail"? Nobody has found an email from a CEO saying,...
  • Osama Bin Laden's leftwing book collection (Chomsky, Perkins, Woodward, 911 conspiracies)

    05/20/2015 8:19:02 PM PDT · by dead · 25 replies
    In total, 39 English language books were found at bin Laden's Pakistan compound along with a wealth of other written materials: The 2030 Spike by Colin Mason A Brief Guide to Understanding Islam by I. A. Ibrahim America's Strategic Blunders by Willard Matthias America's 'War on Terrorism' by Michel Chossudovsky Al-Qaeda's Online Media Strategies: From Abu Reuter to Irhabi 007 by Hanna Rogan The Best Democracy Money Can Buy by Greg Palast The Best Enemy Money Can Buy by Anthony Sutton Black Box Voting, Ballot Tampering in the 21st Century by Bev Harris Bloodlines of the Illuminati by Fritz Springmeier...
  • This policy has correlated with higher unemployment, more bankruptcies and greater inequality...

    05/12/2015 8:41:27 AM PDT · by fredericbastiat1 · 4 replies
    TheBlaze Books ^ | 2015-05-12 | Benjamin Weingarten
    "From 1947 when [the] Bretton Woods System really got operating to 1971, when the dollar was convertible into gold at a 35th of an ounce, unemployment in America averaged 4.7 percent. And then we got rid of the Bretton Woods system we defaulted on it we went to fiat money, and in the years from 1971 to today, unemployment has averaged significantly above 6 percent. Low unemployment: gold standard. High unemployment: fiat money. But its not just unemployment. The bankruptcy rate which Elizabeth Warren likes to focus on was one point something per thousand for years, and suddenly...
  • Yellen Gives Silk Underwear Crowd on Wall Street a Warning

    05/07/2015 1:13:24 PM PDT · by Kaslin · 3 replies
    Townhall.com ^ | May 7, 2015 | Matt Towery
    It's interesting and important to note that former Fed Chairman Alan Greenspan's comment about a stock market potentially built upon "irrational exuberance" did not coincide with a drop in the markets. In fact, it took years before the truly irrational stock market, built upon the emerging web technology world, fell apart. But comments this week by the current Federal Reserve Chair Janet Yellen that equity "are quite high" reminded many of a more muted version of Greenspan's observations years earlier. In the case of Greenspan, his comments were more speculative and were rooted in the theoretical of what could happen...
  • Yellen Says Stocks Pricey; Is A Bear Market Lurking?

    Fed chief Janet Yellen rattled the stock market Wednesday when she said "equity market valuations at this point generally are quite high," saying that raises "potential dangers." She added that she doesn't see "the hallmarks of a bubble," but stocks retreated from opening gains and traded lower, though the major averages closed off intraday lows. Are stocks overvalued? After a six-year bull market, a correction should be expected, although the odds favor a more garden variety downturn of 20% or so over a period of several months, not the painful free-falls of 2000-02 or 2008. Wednesday's selling prompted IBD to...
  • Fed Chair Yellen says stock market prices 'quite high'

    05/06/2015 10:49:36 AM PDT · by xzins · 70 replies
    Yahoo Finance ^ | 6 May 15 | Martin Crutsinger
    Federal Reserve Chair Janet Yellen on Wednesday described stock market valuations as high and said the central bank was carefully monitoring their impact on financial stability. "I would highlight that equity market valuations at this point generally are quite high," Yellen said in conversation with Christine Lagarde, managing director of the International Monetary Fund, at an economics conference. Coupled with weak economic reports in the morning, her remarks drove stocks broadly lower in Wednesday trading. Yellen added, however, that the overall risks to financial stability are "moderated, not elevated" and she does not see the hallmarks of any bubbles. She...
  • Fed rate hike in June on the table, two policymakers say

    05/01/2015 5:34:31 PM PDT · by Olog-hai · 6 replies
    Reuters ^ | Fri May 1, 2015 6:06pm EDT | Ann Saphir and Jonathan Spicer
    The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter. That viewfrom the hawkish-leaning chief of the Cleveland Fed and from the centrist head of the San Francisco Fedis at odds with the view of many traders, whose bets in the interest-rate futures markets suggest they have all but discounted a June rate hike and now expect the Fed to wait until December before raising rates for the first time since 2006. The Fed has kept interest...
  • 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 dont 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 Obamas 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, theres a lot of evidence that this was an important part of the...