Ponzi Schemes and Social Security
More than $16 billion of investors’ money evaporated in Ponzi schemes in 2009, according to the Associated Press. Although the names Bernie Madoff and Allen Stanford were in the headlines in...
Economic Commentary
Fed Backers Seek Power More Than Wealth
The prime architect of the Federal Reserve was German immigrant Paul Warburg. Arriving in America in 1902 with brother Max, he married into the family controlling Kuhn, Loeb and Company, America’s...
The Economy: Cheerleaders vs. Reality
When MSNBC headlined the report that existing home sales surged by 7.4 percent in November (according to the National Association of Realtors), it suggested that such an improvement boosted “recovery hopes.”...
China Slows U.S. Debt Purchases
Chinese officials have once again publicly stated their intention to buy less U.S. Treasury debt, according to the December 18 Shanghai Daily newspaper. "The U.S. current account deficit is falling as...
Bernanke is “Times'” Man of the Year
With the expiration of one of the most turbulent years, economically speaking, in American history, it is not surprising that Time magazine has recognized Federal Reserve Chairman Ben Bernanke as Man...
Unemployment Wreaking Havoc on Middle America, New Poll Shows
The economic conventional wisdom of the moment is that the U.S. economy has begun to turn around. According to mainstream economists, a tentative recovery can be found in the third-quarter numbers,...
Jobs Summit – More talk? Yes. More jobs? No
When ABC News asked if the "jobs summit" would make real progress or would just be "simply a glorified public-relations stunt," it studiously avoided asking the real question: How can the...
Copenhagen: UN Calls for Trillions in Reparations for “Climate Debt”
The United Nations summit on global warming in Copenhagen is less than a week away, and UN agencies are trying to pre-set the dials with calls for massive funding of various...
Recession “Double-Dip” Coming?
In spite of forecasts by some commentators of an improving economy, several factors point to a coming, even worse, "double-dip" recession: false government statistics that hide the real unemployment rate of...
Bernanke Attacks Ron Paul’s Audit the Fed Bill
Federal Reserve Open Market Committee Chairman Ben Bernanke is pulling out all the stops to kill Congressman Ron Paul's legislation to audit the Federal Reserve Bank, this time with a November...
Pelosi: More Stimulus Will Create Jobs. Really?
With rampant foreclosures and declarations of bankruptcy, historic levels of money creation, a plummeting dollar, and double-digit unemployment, one would think that the already-bowing backs of the American public have borne...
Federal Reserve Has Become a Focal Point of Public Anger
The Federal Reserve is facing its severest scrutiny since the 1930s, both from an aroused public and from members of Congress, some of whom face tough reelection fights next year and...
Inflation? What inflation?
We dont have to hire historians to see where deficit spending will take us. We have only to look around now. Since the end of World War II, some of history's...
Government Website Claims Stimulus Successes in Nonexistent Districts
President Obama’s stimulus package is reviving the economy and providing work for eager Americans all over the country. Don’t believe it? Just ask the folks that live in Arizona’s 15th Congressional...
Mayhem, Money, & Morality
Anyone trying to figure out what in the world is going on in today’s economy might remember Agatha Christie’s classic, Murder on the Orient Express. When master sleuth Hercule Poirot boarded...