US's #1 Economic Problem = FRB?
In 1992 the Minneapolis Federal Reserve asked Milton Friedman, "What's the biggest economic challenge facing the US?" and Friedman told them, "The number one economic challenge facing the US is how do we get rid of the Federal Reserve?" - Overstock.com CEO Patrick Byrnem, December 2008
posted by byrdeye at 3:25 PM
Stumble It!
11 Comments:
Nice that you're posting again.
I don't agree with all of them but you get me thinking.
Well, I basically only focus on areas of controversy - where people disagree - so that's what I do best. I mean, "what's the point" of discussing things we already all agree upon?
Isn't that Obama's job? :)
Well, thanks for tuning in and the feedback, bro! Keep 'em comin'.
How much of AIG’s bailout/handout is financing Israeli mortgages in Jerusalem & the West Bank?
Senator Sanders: “Will you tell the American people to whom you lent $2.2 trillion of their dollars?”
Ben Bernanke: “No.”
Federal Reserve Loses Expanded Powers Proposed By Obama Administration
Obama proposal, which was released in the House last week in the form of a draft bill, the Federal Reserve would have the authority to ignore the recommendations by a firm's primary regulator (be it a bank or securities regulator) and simply impose its own standards on the firm. The Fed would also have the power to examine the firm, and force the firm to comply with those standards if necessary.
In essence, if the other regulators didn't play ball the Fed's way, the Fed could shove them aside.
Confessions of An Economic Hit Man - What Really Goes on Behind Global Affairs
Black Ops Opertative Chip Tatum Interviewed
THE Greek bailout seems to have done little to calm fears of a crisis in the euro-zone - quite the contrary. Spain's prime minister Jose Luis Rodriguez Zapatero, for one, has got jolly cross about suggestions that his own basket-case economy could be looking for financial aid.
This is someone way out of his depth and better suited to his usual pursuits of showing how modern he is by picking fights with Spanish religious leaders and generally waging student-ish culture wars than handling a major real-life economic emergency.
Yet easy 'though it is to look down on these assorted ex-dictatorships and the lavish social provisions they clearly felt they deserved and could afford once in the European club (don't you love Greece's '13th and 14th month' salaries?) you wonder how different is our own economic situation.
No, not the ballooning debt, about which plenty has been written, but the sense of entitlement - to parental leave, 'work-life balance', free money for new-born children, beer money for sixth formers (sorry, 'educational maintenance allowances') and all the rest.
It bears repeating that we are competing with people in India, China and elsewhere who are better educated and harder working than we are, and who enjoy few if any of these amenities. Not that you would notice, from the hazy, lackadaisical way we seem to be drifting towards an inconclusive Election tomorrow.
Pols reluctantly approve furloughing 100,000 state workers; labor groups file court challenge
Legislators on Monday night reluctantly approved furloughing 100,000 state workers for the first time in New York history.
The unprecedented move forcing employees to take one unpaid day off per week came after Gov. Paterson threatened to shut down state government.
The unions, he said, "just want to frolic along and do commercials and have rallies as if there isn't a method or a means to an end that will get us out of this mess."
German Finance Minister Wolfgang Schauble lashed out at U.S. pressure on Berlin to rein in the country's surging exports, accusing Washington of hypocrisy and telling Der Spiegel magazine in an interview that ran over the weekend, "the American growth model … is stuck in a deep crisis," Reuters reported.
"It doesn't add up when the Americans accuse the Chinese of currency manipulation and then, with the help of their central bank's printing presses, artificially lower the value of the dollar," he told Reuters.
Some economists have warned that Bernanke's decision to have the Fed buy $600 billion in government bonds could do more than stimulate the economy -- it could also drive up food and energy prices, which would boost inflation, something that could further impede economic growth.
Politicians and pundits talk often talk of the undue sway Chinese businesses have over American consumers without the hard numbers to back up claims. So Galina Hale and Bart Hobijn, two economists from the Federal Reserve Bank of San Francisco, have stepped in to do the mathematical heavy-lifting. What they've found is that only 2.7 percent of U.S. consumers purchases have the "Made in China" label.
"Although globalization is widely recognized these days, the U.S. economy actually remains relatively closed," the authors write in a recent report. 88.5 percent of Americans' consumer spending is on things made in the U.S. In the U.S. market, China only had the edge over domestic businesses in the nondurable goods category that includes clothing and shoes. It also, unsurprisingly, does well in the U.S. in the groups of goods that include electronics and household appliances.
But China doesn't come that close in any other category. Even of the 2.7 percent of "Made in China" goods, only 1.2 percent represents "China-produced content," the authors write. (That's the "Final goods imported from China" category in the chart above.) The rest goes into things like American design and assembly and transocean transport. Just something to remember next try time you hear someone cursing a "Made in China" label.
The Jewish banking families made it a practice to marry their female offspring to spendthrift European aristocrats. In Jewish law, the mixed offspring of a Jewish mother is Jewish. (The male heirs marry Jews although the Victor and Jacob Rothschild are exceptions .)
Jews "have made themselves so closely connected with the British peerage that the two classes are unlikely to suffer loss which is not mutual. So closely linked are the Jews and the lords that a blow against the Jews in this country would not be possible without injuring the aristocracy also.
JEWS CONTROL AMERICA. This is because the Jews own the Federal Reserve Bank. It’s not “federal” at all. It’s privately owned. by Jews!
The money that President George Bush borrows in the billions of $$$ at interest comes from the Jewish money lenders of the Federal Reserve Bank. They look so very professional & so legit don’t they? But don’t fall for it for they are bandits.
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