Why no centennial celebration? December 23, 2013 marks the centennial of a disastrous transformation of the American Republic. On December 23, 1913, the Federal Reserve System was created. Woodrow Wilson believed that central planning could make America better. His informal deputy, Colonel House (who was not really a colonel ... MORE
Showing posts with label interest rates. Show all posts
Showing posts with label interest rates. Show all posts
Bruce Walker: The Federal Reserve's Century Of Failure
Why no centennial celebration? December 23, 2013 marks the centennial of a disastrous transformation of the American Republic. On December 23, 1913, the Federal Reserve System was created. Woodrow Wilson believed that central planning could make America better. His informal deputy, Colonel House (who was not really a colonel ... MOREGive "Capitalism" A Chance
by Shanmuganathan Nagasundaram. The prevailing majority opinion in the country and the world over is that the crisis of 2008 was caused by greedy speculators and unregulated capitalism (the repeal of the Glass-Steagall Act in the US, unfair lending practices, etc). But that’s not so, and it’s probably best to start by defining what ... MORE
Peter Morici: True Unemployment Now 13.6%
'High rate' becoming permanent. The Labor Department on Friday is expected to report the economy added 120,000 jobs in October, below the 148,000 recorded in September and the trend for months prior. Unemployment should remain about 7.2 percent. The government shutdown and uncertainty about its precise impact on the data ... MORE
Peter Schiff: A Green Light For Gold?
It is rare that investors are given a road map. It is rarer still that the vast majority of those who get it are unable to understand the clear signs and directions it contains. When this happens the few who can actually read the map find themselves in an enviable position. Such is currently the case with gold and gold-related investments. ... MORELee Cary: The Black Swan In The Perfect Storm.
The Black Swan is Arithmetic. She is coming and she is already here. In Detroit, you see her in the debris of a once great American city. The Perfect Storm is the confluence of events that will wreak economic havoc on America. It need not have anything to do with the current debt ceiling controversy. Most don't see it coming. For them, it will ... MOREVictor Davis Hanson: The Late, Great Middle Class
Don't try to sell the recovery notion to them. The American middle class, like the American economy in general, is ailing. Labor-force participation has hit a 35-year low. Median household income is lower than it was five years ago. Only the top 5 percent of households have seen their incomes rise under President Obama. Commuters are paying ... MOREDavid Beckworth: The Low-Interest-Rate Blues
The Fed continues to make deficit spending easier. One of the most insidious developments in the economic crisis has been the low-interest-rate environment. Short-term interest rates have been stuck near 0 percent for four years, while long-term interest rates have declined to historically low levels. These low interest rates have created ... MOREVictor Davis Hanson: 1984 + 29
The Obama revolution. Imagine if, during the campaign of 2008, someone had written the following: “If Barack Obama is elected president, then each year from now on the federal budget will be a trillion dollars in the red. He will pile up in two terms more debt than all previous presidents combined. Interest rates will stay at near zero; 7.6 percent ... MOREPeter Schiff: The Real Fiscal Cliff
Low interest rates will rise. As we head toward the end of the year, the media’s fixation with the congressionally imposed “fiscal cliff” will reach a fever pitch and no doubt become a major factor in the presidential campaign. The danger is supposed to arise from the simultaneous implementation of $2 trillion in automatic spending “cuts” ... MORE
Peter Schiff: The Not So Super Hero
We must stop waiting for a savior. The past week provided clear lessons not just in how central bankers have a limited ability to positively influence the economy but also how they are limited in their capacity to deliver the shortsighted policy actions that investors currently crave. The developments should provide new reasons for investors and ... MOREPeter Ferrara: The Last Nail In The Keynesian Coffin
The only useful function of Obamanomics. Keynesian economics is the false vision of human action which says the way to promote economic recovery and renewed growth is through increased government spending, deficits and debt. If that sounds nuts, that’s because it is. The idea is that the increased government spending and deficits will increase ... MOREPeter Schiff: Economic Reality Bites
The hangover is setting in. Many people became convinced that data releases earlier this year indicated that "recovery" in the U.S. was imminent. But as I have been saying for months, this evidence would ultimately be shown to be as reliable as sightings of Bigfoot. Lots of people claim to say they have seen it, some even produce plaster footprints, but in the ... MOREWalter E Williams: Devious Taxation
The dynamics of an uneven tax burden. The Washington, D.C.-based Tax Foundation does a yeoman's job of keeping track of how much we're paying in taxes and who's paying what. It turns out that American taxpayers worked this year from Jan. 1 to April 17, 107 days, to earn enough money to pay their federal, state and local tax bills. That statistic requires ... MORE
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