Saturday, 20 December 2014

Monthly Archives May 2011

Inflation Goggles.

Posted by Gonzalo Schwarz
May 31, 2011

Following policies, however well intentioned, that inevitably lead from miscalculation to miscalculation, is a recipe for disaster. Key data and assumptions used by central bankers are misleading and dangerous to the economy and “contrary to popular thinking, the recent strengthening in some key US economic data such as employment doesn’t reflect economic strengthening but is simply a response to the strengthening of bubble activities that are setting in motion another economic bust.”

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“A Note on the Machiavellian Origins of Central Banking in America” – QJAE

Posted by Tom Duncan
May 31, 2011

“In The Mystery of Banking, Murray Rothbard explained how the origins of central banking in the U.S. were rooted in a lobbying effort by Robert Morris and other “nationalists” to create a bank modeled after the Bank of England that would subsidize their businesses with cheap credit and other forms of corporate welfare. This paper […]

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“Defense Spending No Longer ‘Sacred Cow’ to Republicans Searching for Cuts” – Bloomberg

Posted by Tom Duncan
May 31, 2011

“As the House Budget Committee worked on a Republican plan to cut more than $6 trillion of government spending over a decade, the panel’s senior Democrat proposed a symbolic amendment saying national security costs should be included in any responsible deficit-reduction effort. Seventeen of 22 committee Republicans, including Chairman Paul Ryan of Wisconsin, joined all […]

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“Barney Frank’s Latest Bad Idea” – WSJ

Posted by Tom Duncan
May 31, 2011

“Mr. Frank’s bill is simple and remarkably short by Washington standards: two pages. It would strike the language in Section 12A of the Federal Reserve Act that provides for voting membership by the New York Fed and rotating voting membership by the other 11 Federal Reserve banks on the Federal Open Market Committee (FOMC). Monetary […]

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“Hoenig Urges Fed to Raise Interest Rates to Encourage Saving” – Bloomberg

Posted by Tom Duncan
May 30, 2011

“Federal Reserve Bank of Kansas City President Thomas Hoenig, the central bank’s longest-serving policy maker, said the U.S. needs to raise interest rates to encourage individuals to save and avoid future asset bubbles. Hoenig, who doesn’t vote on monetary policy this year, has repeatedly urged the central bank to tighten lending to prevent inflation and […]

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