Athens, Ga. - The recession is probably over. So said Ben Bernanke this week. His timing is exquisite. President Obama has reappointed him to be Fed chairman, and he can now head into his Senate confirmation hearings this fall with the reputation that he nipped another Great Depression in the bud.
But did he?
Read More...
http://www.csmonitor.com/2009/0917/p09s01-coop.html
Sunday, November 29, 2009
Saturday, November 21, 2009
The Fed Does NOT Stabilize The Economy
You may well wonder where he got that idea, since there are no official estimates of gross domestic product (GDP) for years before 1929. In the early 1960s, however, John Kendrick and Simon Kuznets bravely attempted to construct such estimates for gross national product (GNP). That would be close enough to modern GDP data were it not for the primitive statistics and technology they had to work with.
Read More...
http://www.cato-at-liberty.org/2009/09/09/no-the-fed-did-not-stabilize-the-economy/
Read More...
http://www.cato-at-liberty.org/2009/09/09/no-the-fed-did-not-stabilize-the-economy/
Global Warming- A Conspiracy of Lies
If you own any shares in alternative energy companies I should start dumping them NOW. The conspiracy behind the Anthropogenic Global Warming myth (aka AGW; aka ManBearPig) has been suddenly, brutally and quite deliciously exposed after a hacker broke into the computers at the University of East Anglia’s Climate Research Unit (aka Hadley CRU) and released 61 megabites of confidential files onto the internet. (Hat tip: Watts Up With That)
When you read some of those files – including 1079 emails and 72 documents – you realise just why the boffins at Hadley CRU might have preferred to keep them confidential. As Andrew Bolt puts it, this scandal could well be “the greatest in modern science”.
Read More...
http://blogs.telegraph.co.uk/news/jamesdelingpole/100017393/climategate-the-final-nail-in-the-coffin-of-anthropogenic-global-warming/
When you read some of those files – including 1079 emails and 72 documents – you realise just why the boffins at Hadley CRU might have preferred to keep them confidential. As Andrew Bolt puts it, this scandal could well be “the greatest in modern science”.
Read More...
http://blogs.telegraph.co.uk/news/jamesdelingpole/100017393/climategate-the-final-nail-in-the-coffin-of-anthropogenic-global-warming/
The Truth Behind China's Currency Peg
During President Obama's high-profile visit to China this week, the most frequently discussed, yet least understood, topic was how currency valuations are affecting the economic relationship between the United States and China. The focal problem is the Chinese government's policy of fixing the value of the renminbi against the U.S. dollar. While many correctly perceive that this 'peg' has contributed greatly to the current global imbalances, few fully comprehend the ramifications should that peg be discarded.
The common understanding is both incomplete and naïve.
Read more...
http://www.lewrockwell.com/schiff/schiff59.1.html
The common understanding is both incomplete and naïve.
Read more...
http://www.lewrockwell.com/schiff/schiff59.1.html
Friday, November 20, 2009
Société Générale tells clients how to prepare for potential 'global collapse'
In a report entitled "Worst-case debt scenario", the bank's asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.
Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years.
Related Articles
'Debt levels risk another crisis'
"As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse," said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.
Read the rest...http://www.telegraph.co.uk/finance/economics/6599281/Societe-Generale-tells-clients-how-to-prepare-for-global-collapse.html
Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years.
Related Articles
'Debt levels risk another crisis'
"As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse," said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.
Read the rest...http://www.telegraph.co.uk/finance/economics/6599281/Societe-Generale-tells-clients-how-to-prepare-for-global-collapse.html
Tuesday, November 3, 2009
Deflation or Inflation
"Deflation" this time around will not result in falling consumer prices.
When the big deflation comes in US Treaasuries, which will be triggered by Japan selling off to fund their looming fiscal crunch, the Fed will monetize (inflate FRNs) to keep interest rates down. If they don't, the US government will go bankrupt as most of the US debt rolls over every 5 years and rapidly rising rates will devour the budget. If the Fed does not inflate FRNs to soak up crashing Treasuries, then Congress will take over the Fed and 2010 republicans will hyperinflate by decree.
There will be no deflation in consumer prices. Sorry. The mass-inflation is already here. The stock market/real estate market is being reflated by TARP/GSE cash infusions and Fed outright purchases. 2 of 3 automakers are utterly insolvent yet still have $Bs in market cap. Oil, gold, silver are on a rocket.
Mass inflation is here. We are in it. Next stop, $4.00 gas.
When the big deflation comes in US Treaasuries, which will be triggered by Japan selling off to fund their looming fiscal crunch, the Fed will monetize (inflate FRNs) to keep interest rates down. If they don't, the US government will go bankrupt as most of the US debt rolls over every 5 years and rapidly rising rates will devour the budget. If the Fed does not inflate FRNs to soak up crashing Treasuries, then Congress will take over the Fed and 2010 republicans will hyperinflate by decree.
There will be no deflation in consumer prices. Sorry. The mass-inflation is already here. The stock market/real estate market is being reflated by TARP/GSE cash infusions and Fed outright purchases. 2 of 3 automakers are utterly insolvent yet still have $Bs in market cap. Oil, gold, silver are on a rocket.
Mass inflation is here. We are in it. Next stop, $4.00 gas.
Wednesday, October 21, 2009
More Predictions
10/20...
This latest market runup is nothing more than a reflation fueled by 0.00% money, levered up twenty times by banksters like Government Sachs.
90% of the bankster earnings are from the "carry trade" so to speak. They swap their bad assets (MBS) for Federal Reserve Notes which are used to shore up their margin accounts.
The Fed has "bought" close to $300 Billion in MBS since July 1 (check their H3 and H4 reports).
The speculative bubble is only possible with 0%, short term loans. The dollar crumbles daily and the Fed will be soon forced to act. But hiking rates will reveal the scheme as unsustainable and collapse the equity markets.
This latest market runup is nothing more than a reflation fueled by 0.00% money, levered up twenty times by banksters like Government Sachs.
90% of the bankster earnings are from the "carry trade" so to speak. They swap their bad assets (MBS) for Federal Reserve Notes which are used to shore up their margin accounts.
The Fed has "bought" close to $300 Billion in MBS since July 1 (check their H3 and H4 reports).
The speculative bubble is only possible with 0%, short term loans. The dollar crumbles daily and the Fed will be soon forced to act. But hiking rates will reveal the scheme as unsustainable and collapse the equity markets.
Sunday, September 13, 2009
Public Option = Babies Left to Die (in UK)
'Doctors told me it was against the rules to save my premature baby'
By Vanessa Allen and Andrew LevyLast updated at 8:53 AM on 10th September 2009
Doctors left a premature baby to die because he was born two days too early, his devastated mother claimed yesterday.
Sarah Capewell begged them to save her tiny son, who was born just 21 weeks and five days into her pregnancy - almost four months early.
They ignored her pleas and allegedly told her they were following national guidelines that babies born before 22 weeks should not be given medical treatment. Read more: http://www.dailymail.co.uk/news/article-1211950/Premature-baby-left-die-doctors-mother-gives-birth-just-days-22-week-care-limit.html#ixzz0R0VRCvMh
By Vanessa Allen and Andrew LevyLast updated at 8:53 AM on 10th September 2009
Doctors left a premature baby to die because he was born two days too early, his devastated mother claimed yesterday.
Sarah Capewell begged them to save her tiny son, who was born just 21 weeks and five days into her pregnancy - almost four months early.
They ignored her pleas and allegedly told her they were following national guidelines that babies born before 22 weeks should not be given medical treatment. Read more: http://www.dailymail.co.uk/news/article-1211950/Premature-baby-left-die-doctors-mother-gives-birth-just-days-22-week-care-limit.html#ixzz0R0VRCvMh
A Track Record of Lies
A MINORITY VIEW
BY WALTER WILLIAMS
RELEASE: WEDNESDAY, SEPTEMBER 2, 2009
Washington's Lies
President Obama and congressional supporters estimate that his health care plan will cost between $50 and $65 billion a year. Such cost estimates are lies whether they come from a Democratic president and Congress, or a Republican president and Congress. You say, "Williams, you don't show much trust in the White House and Congress." Let's check out their past dishonesty.
Read the rest...http://economics.gmu.edu/wew/articles/09/Washington%27sLies.htm
BY WALTER WILLIAMS
RELEASE: WEDNESDAY, SEPTEMBER 2, 2009
Washington's Lies
President Obama and congressional supporters estimate that his health care plan will cost between $50 and $65 billion a year. Such cost estimates are lies whether they come from a Democratic president and Congress, or a Republican president and Congress. You say, "Williams, you don't show much trust in the White House and Congress." Let's check out their past dishonesty.
Read the rest...http://economics.gmu.edu/wew/articles/09/Washington%27sLies.htm
Saturday, August 15, 2009
The Health Care Plan Really IS Government Run
The devil is definitely in the details! This plan is the typical statist scheme. The summary goals seem reasonable but the means of accomplishing those ends opens a pathway to total government control. See below:
Page 17
(3) RESTRICTIONS ON PREMIUM INCREASES.—
The issuer cannot vary the percentage increase in the premium for a risk group of enrollees in specific grandfathered health insurance coverage without changing the premium for all enrollees in the same risk group at the same rate, as specified by the Commissioner.
(Who defines the "risk group"?)
Page 17:
(A) IN GENERAL.—The Commissioner shall establish a grace period whereby, for plan years beginning after the end of the 5-year period beginning with Y1, an employment-based health plan in operation as of the day before the first day of Y1 must meet the same requirements as apply to a qualified health benefits plan under section 101, including the essential benefit package requirement under section 121.
And on Page 18:
(iii) Such other limited benefits as the Commissioner may specify.
In no case shall an employment-based health plan in which the coverage consists only of one or more of the coverage or benefits described in clauses (i) through (iii) be treated as acceptable coverage under this division
(More government mandates that create a political means of destroying private coverage)
Page 24:
SEC. 116. ENSURING VALUE AND LOWER PREMIUMS.
(a) IN GENERAL.—A qualified health benefits plan shall meet a medical loss ratio as defined by the Commissioner. For any plan year in which the qualified health benefits plan does not meet such medical loss ratio, QHBP offering entity shall provide in a manner specified by the Commissioner for rebates to enrollees of payment sufficient to meet such loss ratio.
(So if a private insurance company makes too much money, the government force them to give it up)
Page 41:
SEC. 141. HEALTH CHOICES ADMINISTRATION; HEALTH CHOICES COMMISSIONER.
(a) IN GENERAL.—There is hereby established, as an independent agency in the executive branch of the Government, a Health Choices Administration (in this division referred to as the ‘‘Administration’’).
(A "Health Choices" Czar accountable only to the President)
And on Page 42:
(a) DUTIES.—The Commissioner is responsible forcarrying out the following functions under this division:
(1) QUALIFIED PLAN STANDARDS.—The establishment of qualified health benefits plan standards under this title, including the enforcement of such standards...
Page 59:
‘‘(B) require paper versions of standardized transactions to comply with the same standards as to data content such that a fully compliant, equivalent electronic transaction can be populated from the data from a paper version;
(Every medical service you receive will be put into an electronic database)
Page 432:
(A) IN GENERAL.—For purposes of reporting data on quality measures for covered professional services furnished during 2011 and any subsequent year, to the extent that measures are available, the Secretary shall include quality measures on end of life care and advanced care planning that have been adopted or endorsed by a consensus-based organization, if appropriate. Such measures shall measure both the creation of and adherence to orders for life sustaining treatment.
(Death Czar?)
It goes on and on....
Page 17
(3) RESTRICTIONS ON PREMIUM INCREASES.—
The issuer cannot vary the percentage increase in the premium for a risk group of enrollees in specific grandfathered health insurance coverage without changing the premium for all enrollees in the same risk group at the same rate, as specified by the Commissioner.
(Who defines the "risk group"?)
Page 17:
(A) IN GENERAL.—The Commissioner shall establish a grace period whereby, for plan years beginning after the end of the 5-year period beginning with Y1, an employment-based health plan in operation as of the day before the first day of Y1 must meet the same requirements as apply to a qualified health benefits plan under section 101, including the essential benefit package requirement under section 121.
And on Page 18:
(iii) Such other limited benefits as the Commissioner may specify.
In no case shall an employment-based health plan in which the coverage consists only of one or more of the coverage or benefits described in clauses (i) through (iii) be treated as acceptable coverage under this division
(More government mandates that create a political means of destroying private coverage)
Page 24:
SEC. 116. ENSURING VALUE AND LOWER PREMIUMS.
(a) IN GENERAL.—A qualified health benefits plan shall meet a medical loss ratio as defined by the Commissioner. For any plan year in which the qualified health benefits plan does not meet such medical loss ratio, QHBP offering entity shall provide in a manner specified by the Commissioner for rebates to enrollees of payment sufficient to meet such loss ratio.
(So if a private insurance company makes too much money, the government force them to give it up)
Page 41:
SEC. 141. HEALTH CHOICES ADMINISTRATION; HEALTH CHOICES COMMISSIONER.
(a) IN GENERAL.—There is hereby established, as an independent agency in the executive branch of the Government, a Health Choices Administration (in this division referred to as the ‘‘Administration’’).
(A "Health Choices" Czar accountable only to the President)
And on Page 42:
(a) DUTIES.—The Commissioner is responsible forcarrying out the following functions under this division:
(1) QUALIFIED PLAN STANDARDS.—The establishment of qualified health benefits plan standards under this title, including the enforcement of such standards...
Page 59:
‘‘(B) require paper versions of standardized transactions to comply with the same standards as to data content such that a fully compliant, equivalent electronic transaction can be populated from the data from a paper version;
(Every medical service you receive will be put into an electronic database)
Page 432:
(A) IN GENERAL.—For purposes of reporting data on quality measures for covered professional services furnished during 2011 and any subsequent year, to the extent that measures are available, the Secretary shall include quality measures on end of life care and advanced care planning that have been adopted or endorsed by a consensus-based organization, if appropriate. Such measures shall measure both the creation of and adherence to orders for life sustaining treatment.
(Death Czar?)
It goes on and on....
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