Archive for the ‘Economics’ Category
Don’t Bet on a Recovery
From Liberty Maven
by Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0: How to Profit from the Economic Collapse
It is astounding how many economists, government officials, and Wall Street strategists construe the current economic conditions as evidence of a bona fide recovery. It is a testament to the power of the ...Read more.
Fannie Mae Seeks Another Taxpayer Bailout of $15.3B
From ABC News
Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year.
The rescue of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive aftereffects of the financial ...Read more.
“U.S. Could Face a Debt Crisis Like Greece” –Ben Bernanke
From The Washington Times
With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.
Recent events in Europe, where ...Read more.
Credit CARD Act Penalizes Thrift And Entrepreneurship
From CEI
Washington, D.C., February 22, 2010 – Today, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 goes into effect. While the law, passed last May, is being hailed as a boon for consumers, it’s already causing a slew of unintended consequences.
Congress should carefully consider how the CARD Act will harm consumers and ...Read more.
Recession, Stimulus, Inflation, and the Average American
From The Bottom Violation
“Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. ...Read more.
Brisk 5.9 Percent Growth in Q4 Will Likely Fade
All economic indicators are way down but the economy “rocketed ahead”, eh?
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From The Atlanta Journal Constitution
WASHINGTON — The economy rocketed ahead at a 5.9 percent pace in the final quarter of 2009, stronger than initially estimated. But the growth spurt isn’t expected to carry over into this year.
The fresh reading on the nation’s economic ...Read more.
China To Purchase Half of IMF’s Gold
From Pravda
China has confirmed the intention to purchase 191.3 tons of gold from the International Monetary Fund at an open auction, Finmarket news agency said.
Central banks started to increase their gold reserves after prices on gold began to climb in 2001. The IMF sells gold within the scope of a program to diversify sources of ...Read more.
CBO: Stimulus Bill Created Up to 2.1 Million Jobs
Let’s assume this is true, which it isn’t, but I’ll play along. Let’s also give the CBO the benefit of the doubt and say the economic stimulus added their high estimation of 2.1 million jobs. We’ll also play along and pretend to believe that only $862 billion was used to stimulate the economy. Let’s see………… ...Read more.
The Economic Vice is Closing. Your Freedom is Almost Gone.
From The Bottom Violation
Welcome to Hamilton’s legacy: the Federalist nightmare.
The clamp is tightening. Your social freedoms are almost gone. Call me a conservative. Call me a liberal. Such labels are misleading, childish, and rigid, and you’ll be wrong either way. I am merely a member of the last bastion of rational thought left in a ...Read more.
Stocks and Commodities Ignore Fed Rate Hike. Why? One Word: Inflation
From The Bottom Violation
How many times in the last year have I said Bernanke and his pack of hyenas would need to time time a reversal of Fed policy with the atomic precision? Too many times. So here we are. And the only precise aspect of yesterday’s quarter-point rate hike is the antithetical degree to ...Read more.
