Fed Wages PR Battle for Power, Secrecy
After hiring lobbyists last year to protect its interests amidst increasing public and congressional scrutiny, the Federal Reserve banking cartel is stepping up the fight to keep and possibly expand its...
Economics
IMF Seeks New Mandate, Global Currency
International Monetary Fund head Dominique Strauss-Kahn made a series of headline-grabbing statements late last week, calling for new supervisory authority over world financial markets and even the exploration of a new...
CIT Founders and Taxpayers Foot the Bill
It’s official: the U.S. taxpayer is now on the hook for $2.33 billion in TARP funds given to CIT Group back in December of 2008. ...
Geithner: No Double Dip
When he appeared on ABC News's This Week on February 7, U.S. Treasury Secretary Timothy Geithner was quizzed about the risk of the United States losing its triple-A credit rating, the...
Latest on the Economy: Heading Up, or Head Fake?
When the Bureau of Economic Analysis announced that “the output of goods and services…increased at an annual rate of 5.7 percent in the fourth quarter of 2009,” the usual suspects in...
Obama’s State of the Union — And the Economy
Although the likelihood that President Obama will embrace a free-market solution to fixing the economy anytime soon must be reckoned similar to the probability of an asteroid strike on the White...
U.S. Debt Level Unsustainable, Report Says
“The debt level of the United States is unsustainable, something has to give,” said the co-author of a new joint report released last week by the National Research Council and the...
Federal Reserve Achieved Record Profits in 2009
Today more people are aware of the Federal Reserve's activities than ever before, mostly owing to the Ron Paul movement or H.R. 1207, Rep. Paul’s Federal Reserve Transparency Act, which had...
The Fed: Forever Blowing Bubbles
An article in the New York Times asked that since the Federal Reserve “failed to recognize the last bubble,… why should Congress, or anyone else, have faith that future Fed officials...
Bernanke: Lax Oversight Recession’s Cause
Regulatory failures and not low interest rates were responsible for the housing bubble, implosion and current recession, Federal Reserve Chairman Ben Bernanke asserted on Sunday. ...
The Fed’s New Tool to Fight Inflation
Last Monday, the Federal Reserve unveiled its new “term deposit facility” as another tool to fight inflation. ...
Paul A. Samuelson, ‘Economics’ Textbook Author, Dies at 94
Long-renowned economist Paul Samuelson died on December 13 at his home in Belmont, Massachusetts, at the age of 94. In addition to writing Economics in 1948 — which became the best...
Nancy Pelosi Supports Global Tax on Stock Transactions to Fund Next Stimulus Bill
Speaker of the House Nancy Pelosi (D-Calif.) is the Will Rogers of big government: She never met a tax she didn’t like. Her latest pet project is the neither nimbly nor...
Captains of the Economy: The ‘Good Ol’ Boy’ Network is Alive and Well
In its attempt to glorify “the 10 who shaped the U.S. economy the most since 2000”, ABC News did a great favor for those interested in the interconnections among the “elite”...
Another Stimulus Spending Bill in the Works
Top Washington Democrats are planning another round of "stimulus" spending legislation to create jobs, according to the Los Angeles Times for November 27. “The renewed push to create jobs is driven...