The Fed, the White House and Congress Are Setting Up the Next Financial Bubble

Posted on October 16th, 2015

Financial help or Bombardmant from www.caglecartoons.com # 142648By Stephen Moore

My 13-year-old son told me at the dinner table the other day that Franklin Roosevelt was one of America’s “greatest presidents” because “he ended the Great Depression.” He’s usually a good student, so I checked where he got this tripe and sure enough the fairy tale was right there in his American history book.

Sure enough his text book tells kids that the New Deal ended the Great Depression and even saved capitalism. Of course the New Deal exacerbated the pain and financial devastation of a stock market crash, and unemployment lingered in double digits for a decade after Roosevelt was elected until the start of World War II.

We get this kind of rampant revisionism because the left writes the history books — which they are doing right now.

Here’s the latest story line: bailouts, trillions of dollars of government spending and debt, easy money, and re-regulation of Wall Street ended the 2008 Great Recession. The myth took on new life last week when Ben Bernanke took a bow in The Wall Street Journal for in his mind saving the economy with his $3 trillion of quantitative easing and zero interest rate policy. No, actually this is what created the crisis. Don’t be surprised if Mr. Bernanke receives a Nobel Peace Prize. Read More..

The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis.

Posted on October 7th, 2015

Dominoes fallingBy Michael Snyder

There has been so much attention on Greece in recent months, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment.  As you are about to see, there are 24 nations that are currently facing a full-blown debt crisis, and there are 14 more that are rapidly heading toward one. 

Right now, the debt to GDP ratio for the entire planet is up to an all-time record high of 286 percent, and globally there is approximately 200 TRILLION dollars of debt on the books.  That breaks down to about $28,000 of debt for every man, woman and child on the entire planet.  And since close to half of the population of the world lives on less than 10 dollars a day, there is no way that all of this debt can ever be repaid.  The only “solution” under our current system is to kick the can down the road for as long as we can until this colossal debt pyramid finally collapses in upon itself.

As we are seeing in Greece, you can eventually accumulate so much debt that there is literally no way out.  The other European nations are attempting to find a way to give Greece a third bailout, but that is like paying one credit card with another credit card because virtually everyone in Europe is absolutely drowning in debt.

Even if some “permanent solution” could be crafted for Greece, that would only solve a very small fraction of the overall problem that we are facing.  The nations of the world have never been in this much debt before, and it gets worse with each passing day. Read More..

Bernanke: Wall Street Execs Should Have Gone to Jail for Crisis

Posted on October 6th, 2015

Mission Impossible by Luojie, China Daily, ChinaEDITOR’S COMMENT: Now, he tells us! Actually, while in office, Bernanke didn’t discourage anyone nor make any effort to hold government employees, bankers & brokers responsible for all the risky lending and government-induced housing financing, both of which helped create the so-called housing bubble. He was clearly not a bystander in this debacle and crisis. And, finally, let me remind you that the Federal reserve only watches out for its various large-bank owners.

By Newsmax

Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession.

Billions of dollars in fines have been levied against major banks and brokerage firms in the wake of the economic meltdown that was in large part triggered by reckless lending and shady securities dealings that blew up a housing bubble.

But in an interview with USA Today published Sunday, Bernanke said he thinks that in addition to the corporations, individuals should have been held more accountable.

“It would have been my preference to have more investigations of individual actions because obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm,” Bernanke said.

Asked if someone should have gone to jail, the former Fed chairman replied, “Yeah, I think so.” He did not, however, name any individual he thought should have been prosecuted. Read More..

A Country Run by Idiots

Posted on October 2nd, 2015

Never Underestimate The Sutpidity of IdiotsEDITOR’S COMMENT: No doubt you have seen versions of “you live in a country run by idiots” over the past few years on the Internet and elsewhere. I thought these ‘contradictions’ were very accurate and timely!

By Monty Pelerin

We truly live in a country run by idiots. The contradictions between common sense and government actions are just too many to have happened by accident or chance. But perhaps the leaders are not the idiots. Maybe the people tolerating such leaders and laws are the true idiots.

What follows is a contrast between common folk wisdom and what Washington considers wisdom. These contradictions are inconvenient for government, threatening to reveal their incompetence or hidden agenda. The author of this piece is unknown although it sounds like something that could have come from Jeff Foxworthy who popularized this presentation style.

If you can get arrested for hunting or fishing without a license, but not for being in the country illegally, you live in a country run by idiots. Read More..

Putin Targets US Monetary System: “Aims to Eliminate the US Dollar and the Euro From Trade”

Posted on September 30th, 2015

Dollars FallingBy Max Slavo

Last year Russia began unloading massive amounts of their US dollar reserves. In the month of December 2014 alone Putin sold some 20% of the country’s U.S. Treasurys, a move that further increased tensions surrounding what can only be described as economic warfare between East and West.

Then, as if part of a coordinated effort, this summer it was revealed that China had implemented a similar strategy, dumping half a trillion in dollar denominated assets.

But that’s just the beginning of the end for the US dollar. Amid a major meltdown in Chinese stock markets the People’s Republic sold off billions in dollar assets last week in what was reported to be an effort to stabilize their collapsing financial markets.

And now, as Russia’s economy collapses under the weight of American and European sanctions, including what many believe to be widespread downward manipulation of oil prices, Vladimir Putin is sending a clear signal to the central bank of the world’s reserve currency.

A new bill drafted by the President of the Russian Federation aims to completely eliminate the US dollar from the trade of goods: Read More..

Democrats Threaten Shutdown for Higher Spending

Posted on September 18th, 2015

Media blames GOP for government shutdown by Gary McCoy, Cagle CartoonsBy Phil Kerpen

Congress has just  returned from vacation with the clock rapidly ticking toward a government shutdown because of a deliberate strategy adopted by Senate Democrats to block all of the bills that fund the government. Their goal? To renege on the Budget Control Act, the historic agreement capping discretionary spending that both parties agreed to and President Obama signed in 2011, and go back to irresponsible, runaway federal spending.

Democrats have been open, even boastful, about their strategy. Harry Reid announced it in June in a splashy story on the liberal website Politico. The Senate’s top Democratic appropriator, Barbara Mikulski, went on the record, saying: “The president will veto bills at this allocation, and Democrats will vote against motions to proceed to these bills on the Senate floor.” The allocation she was referring to was the spending levels both parties and the president agreed to that are now, by law, binding caps. Reid put it more plainly: “We’re headed for another shutdown.”

Got that? Democrats want to shut down the government if they can’t spend more money than they themselves agreed to on the EPA, the IRS, HHS, and all the rest of the vast, wasteful federal bureaucracies. It would be tragic for the country if Democrats succeed because the Budget Control Act caps are working. Read More..

Congress Fiddles While the Economy Burns

Posted on September 16th, 2015

Unemployment from www.caglecartoons.com # 168487By Ron Paul

Reports that the official unemployment rate has fallen to 5.1 percent may appear to vindicate the policies of easy money, corporate bailouts, and increased government spending. However, even the mainstream media has acknowledged that the official numbers understate the true unemployment rate. This is because the government’s unemployment figures do not include the 94 million Americans who have given up looking for work or who have settled for part-time employment. John Williams of Shadow Government Statistics estimates the real unemployment rate is between 23 and 24 percent.

Disappointingly, but not surprisingly, few in Washington, D.C. acknowledge that America’s economic future is endangered by excessive spending, borrowing, taxing, and inflating. Instead, Congress continues to waste taxpayer money on futile attempts to run the economy, run our lives, and run the world.

For example, Congress spent the majority of last week trying to void the Iranian nuclear agreement. This effort was spearheaded by those who think the U.S. should waste trillions of dollars on another no-win Middle East war. Congressional war hawks ignore how America’s hyper-interventionist foreign policy feeds the growing rebellion against the dollar’s world reserve currency status. Of course, the main reason many are seeking an alternative to the dollar is their concern that, unless Congress stops creating — and the Federal Reserve stops monetizing — massive deficits, the U.S. will experience a Greek-like economic crisis.

Despite the clear need to reduce federal spending, many Republicans are trying to cut a deal with the Democrats to increase spending. These alleged conservatives are willing to lift the “sequestration” limits on welfare spending if President Obama and congressional democrats support lifting the “sequestration” limits on warfare spending. Read More..

And Now It Begins

Posted on September 2nd, 2015

Game Over financial collapseBy Monty Pelerin

And now it begins –the long-awaited financial collapse! The domino effect is not underway yet, but a preview of what is coming can be visualized. Detroit, Greece and Puerto Rico are harbingers of what faces many, if not most, political jurisdictions. Common to all is political legerdemain, lying and promises made that never could be fulfilled. All that differs is the degree of harm already inflicted and a jurisdiction’s ability to hold out.

Economics and mathematics are required to determine the downward spiral that most government entities have boxed themselves into. Economics tells us why there is not, nor will there be, a recovery. Mathematics tells us the hole is now so deep that there is no way out without massive defaults on debts and promises. Throw a bit of public-choice theory in and it all seems inevitable.

The three defaults mentioned above do not signal a domino effect. They are early warning signs, however, of what lies ahead. There is little similarity among the three entities other than the common element of political excess. Excess is a universal tendency of the ruling class of any democratic regime. It is independent of culture, language, religion, etc. It is the way that plunder is achieved and office is retained. Read More..

How Obama Transformed America

Posted on August 27th, 2015

Obama yelling, speakingBy Phil Gramm

His progressive legacy won’t last because he passed vague laws and abused his executive power to impose policies that are unpopular.

How did Barack Obama join Franklin Roosevelt and Ronald Reagan to become one of the three most transformative presidents in the past century? He was greatly aided by the financial crisis that erupted during the 2008 campaign. This gave the new president a mandate and a large Democratic congressional majority that fully embraced his progressive agenda.

Having learned from previous progressive failures, President Obama embarked on a strategy of minimizing controversial details that could doom his legislative efforts. But no factor was more decisive than his unshakable determination not to let Congress, the courts, the Constitution or a failed presidency—as America has traditionally defined it—stand in his way.

Americans have always found progressivism appealing in the abstract, but they have revolted when they saw the details. Read More..

Debt Drama Looms for Congress

Posted on August 26th, 2015

Kicking the can debt by Rick McKee, The Augusta Chronicle from www.caglecartoons.com # 138859By Rebecca Shabad and Peter Schroeder

Congress has a long list of unfinished business for the fall, with highway funding, tax break legislation, a budget deal and a spending package all awaiting action.

But it’s the need for an increase in the debt limit that looms largest of all.

The nation is again coming close to hitting the “ceiling” for overall debt, which Congress set at $18.1 trillion in February of 2014.

While the deadline for lifting the limit is uncertain, Treasury Secretary Jack Lew warned last month that the “extraordinary measures” now preventing a debt default could be exhausted by the end of October. Read More..

Do you have an interesting news story that just doesn't "add up," or is not receiving the appropriate coverage in the news, just let us know. We'd love to hear it! And, we'll investigate. CLICK HERE.
Get What Am I Missing Here delivered to your inbox for FREE!