Over the last two years, Federal Reserve Chairman Ben Bernanke has begun violating conservative monetary policies by funding a third of the Obama Administration’s $5.4 trillion deficit-spend-a-thon through multiple rounds of money printing, called Quantitative Easing. After thirty years of Fed stability produced declining interest rates, these new Fed actions are scarring off traditional buyers. [...]
READ MORE »Two weeks ago I published in Big Government and on the Pacific Research Institute’s CalWatchdog website: “New California Budget Crisis May Torpedo November Tax Increase Initiative”, a report illuminating how State Controller John Chaing had shocked California’s spendthrift politicians by announcing the State would be out of cash beginning March 8th and would miss up [...]
READ MORE »The Federal Reserve today voted in favor of capitalism by refusing to engage in a new round of “Quantitative Easing”; better known as trying to inflate the economy by printing paper money. This weekend, former Chairman Paul Volker wrote an Op Ed in the New York Times titled a “Little Inflation Can Be a Dangerous [...]
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It seems hypocritical that MIT faculty member and recent Nobel Laureate, Peter Diamond, would lash out in a New York Times Op Ed titled: “When a Nobel Prize Isn’t Enough”, for not being confirmed by the U.S. Senate to the Board of Governors of the U.S. Federal Reserve. It was only after twice failing to [...]
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It was sad to watch Federal Reserve Chairman Ben Bernanke being forced to hold a political press conference for the first time in the Fed’s 102 year history. Bernanke nervously defended the merit of the Fed subsidizing $3 trillion in Congressional deficit spending and $2 trillion in Wall Street bail-outs; but he looked tired and [...]
READ MORE »The U.S. Federal Reserve’s second round of Quantitative Easing stimulus, QE II, has caused vicious un-intended consequences around the world. The 42% rise in the CRB index of food prices has already caused starvation for millions of people, burned down the Middle East, and is increasingly creating havoc in Asia. But QE 2′s most venomous [...]
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