Asset Price Bubble Bursts Coming In October With 69 Months of Near Zero Federal Funds Interest Rates! — Interest Rate Suppression or Price Control and Manipulation Will Blow Up Economy — Suppressing Savings and Investment With Low Interest Rates Is A Formula For Diaster and Depression — Panic Time — Start A War Over Oil — Meltdown America –Videos

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Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 332: September 18 2014

Pronk Pops Show 331: September 17, 2014

Pronk Pops Show 330: September 16, 2014

Pronk Pops Show 329: September 15, 2014

Pronk Pops Show 328: September 12, 2014

Pronk Pops Show 327: September 11, 2014

Pronk Pops Show 326: September 10, 2014

Pronk Pops Show 325: September 9, 2014

Pronk Pops Show 324: September 8, 2014

Pronk Pops Show 323: September 5, 2014

Pronk Pops Show 322: September 4, 2014

Pronk Pops Show 321: September 3, 2014

Pronk Pops Show 320: August 29, 2014

Pronk Pops Show 319: August 28, 2014

Pronk Pops Show 318: August 27, 2014 

Pronk Pops Show 317: August 22, 2014

Pronk Pops Show 316: August 20, 2014

Pronk Pops Show 315: August 18, 2014

Pronk Pops Show 314: August 15, 2014

Pronk Pops Show 313: August 14, 2014

Pronk Pops Show 312: August 13, 2014

Pronk Pops Show 311: August 11, 2014

Pronk Pops Show 310: August 8, 2014

Pronk Pops Show 309: August 6, 2014

Pronk Pops Show 308: August 4, 2014

Pronk Pops Show 307: August 1, 2014 

Pronk Pops Show 306: July 31, 2014

Pronk Pops Show 305: July 30, 2014

Pronk Pops Show 304: July 29, 2014

Pronk Pops Show 303: July 28, 2014

Pronk Pops Show 302: July 24, 2014

Pronk Pops Show 301: July 23, 2014

Pronk Pops Show 300: July 22, 2014

Pronk Pops Show 299: July 21, 2014

Pronk Pops Show 298: July 18, 2014

Pronk Pops Show 297: July 17, 2014

Pronk Pops Show 296: July 16, 2014

Pronk Pops Show 295: July 15, 2014

Pronk Pops Show 294: July 14, 2014

Pronk Pops Show 293: July 11, 2014

Pronk Pops Show 292: July 9, 2014

Pronk Pops Show 291: July 7, 2014

Pronk Pops Show 290: July 3, 2014

Pronk Pops Show 289: July 2, 2014

Pronk Pops Show 288: June 30, 2014

Pronk Pops Show 287: June 27, 2014

Pronk Pops Show 286: June 26, 2014

Pronk Pops Show 285 June 25, 2014

Pronk Pops Show 284: June 23, 2014

Pronk Pops Show 283: June 20, 2014

Pronk Pops Show 282: June 19, 2014

Pronk Pops Show 281: June 17, 2014

Pronk Pops Show 280: June 16, 2014

Pronk Pops Show 279: June 13, 2014

Pronk Pops Show 278: June 12, 2014

Pronk Pops Show 277: June 11, 2014

Pronk Pops Show 276: June 10, 2014

Pronk Pops Show 275: June 9, 2014

Pronk Pops Show 274: June 6, 2014

Pronk Pops Show 273: June 5, 2014

Pronk Pops Show 272: June 4, 2014

Pronk Pops Show 271: June 2, 2014

Story 1: Asset Price Bubble Bursts Coming In October With 69 Months of Near Zero Federal Funds Interest Rates! — Interest Rate Suppression or Price Control and Manipulation Will Blow Up Economy — Suppressing Savings and Investment With Low Interest Rates Is A Formula For Diaster and Depression — Panic Time — Start A War Over Oil — Meltdown America –Videos

U.S. Debt Clock

Current Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
09/17/2014 12,767,522,798,389.80 4,997,219,915,398.95 17,764,742,713,788.75

 

TABLE I -- SUMMARY OF TREASURY SECURITIES OUTSTANDING, AUGUST 31, 2014
(Millions of dollars)
                                              Amount Outstanding
Title                                         Debt Held             Intragovernmental         Totals
                                              By the Public         Holdings
Marketable:
  Bills.......................................        1,450,293                     1,704                1,451,998
  Notes.......................................        8,109,269                     7,365                8,116,634
  Bonds.......................................        1,521,088                        57                1,521,144
  Treasury Inflation-Protected Securities.....        1,031,836                        52                1,031,888
  Floating Rate Notes  21  ...................          109,996                         0                  109,996
  Federal Financing Bank  1  .................                0                    13,612                   13,612
Total Marketable  a...........................       12,222,481                    22,790 2             12,245,271
Nonmarketable:
  Domestic Series.............................           29,995                         0                   29,995
  Foreign Series..............................            2,986                         0                    2,986
  State and Local Government Series...........          105,440                         0                  105,440
  United States Savings Securities............          177,030                         0                  177,030
  Government Account Series...................          193,237                 4,993,277                5,186,514
  Hope Bonds 19...............................                0                       494                      494
  Other.......................................            1,443                         0                    1,443
Total Nonmarketable  b........................          510,130                 4,993,771                5,503,901
Total Public Debt Outstanding ................       12,732,612                 5,016,561               17,749,172
TABLE II -- STATUTORY DEBT LIMIT, AUGUST 31, 2014
(Millions of dollars)
                                              Amount Outstanding
Title                                         Debt Held             Intragovernmental         Totals
                                                 By the Public 17, 2Holdings
Debt Subject to Limit: 17, 20
  Total Public Debt Outstanding...............       12,732,612                 5,016,561               17,749,172
  Less Debt Not Subject to Limit:
    Other Debt ...............................              485                         0                      485
    Unamortized Discount  3...................           15,742                    12,421                   28,163
    Federal Financing Bank  1     ............                0                    13,612                   13,612
    Hope Bonds 19.............................                0                       494                      494
  Plus Other Debt Subject to Limit:
    Guaranteed Debt of Government Agencies  4                 *                         0                        *
  Total Public Debt Subject to Limit .........       12,716,386                 4,990,033               17,706,419
  Statutory Debt Limit  5.....................................................................                   0
COMPILED AND PUBLISHED BY
THE BUREAU OF THE FISCAL SERVICE
www.TreasuryDirect.gov

Interest Expense on the Debt Outstanding

The Interest Expense on the Debt Outstanding includes the monthly interest for:

Amortized discount or premium on bills, notes and bonds is also included in the monthly interest expense.

The fiscal year represents the total interest expense on the Debt Outstanding for a given fiscal year. This includes the months of October through September. View current month details (XLS Format, File size 199KB, uploaded 09/05/2014).

Note: To read or print a PDF document, you need the Adobe Acrobat Reader (v5.0 or higher) software installed on your computer. You can download the Adobe Acrobat Reader from the Adobe Website.

If you need help downloading…

Interest Expense Fiscal Year 2014
August $27,093,517,258.24
July $29,260,530,745.98
June $97,565,768,696.69
May $32,081,384,628.40
April $31,099,852,014.96
March $26,269,559,883.36
February $21,293,863,450.50
January $19,498,592,676.78
December $88,275,817,263.03
November $22,327,099,682.97
October $16,451,313,332.09
Fiscal Year Total $411,217,855,816.94
Available Historical Data Fiscal Year End
2013 $415,688,781,248.40
2012 $359,796,008,919.49
2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

chart

fredgraph

fredgraph

BND-10-Year-Treasury-Yield-09122014

 JIM ROGERS Financial disaster coming – Dollar collapse – Countries Move Away From USD

US Fed signals move to normalize monetary policy

Dollar Meltdown, Massive Financial Bubble, Economic Collapse Marc Faber

Peter Schiff Iraq Crisis Threatens Global Economy

Peter Schiff – Fantasy About US Recovery Is Not Going To Materialize

Most important video Americans will see today – Doug Casey Interview

James Grant: Two Alternative Outcomes From Fed Policy – Much Higher Inflation or More Money Printing

Investor Jim Grant on Bubbles And Bargains

Jim Rogers Discusses Concern Over The Market

Jim Rogers On Economic Collapse And The US Debt‬

US Economy 2014 Collapse – *Peter Schiff* – FED will cause Huge Economic Crisis!

US ECONOMY COLLAPSE WILL LEAVE MILLIONS IN POVERTY

There Will Be No Economic Recovery. Prepare Yourself Accordingly

US Massive Financial Crisis Coming

Dan Mitchell Discussing Harvard Survey, Arguing for Growth over Class Warfare

The Coming Stock Market Crash and The Death of Money with Jim Rickards

Market Crash, Economic collapse 2014, The coming of World War 3 – Stock Market

Forbes: Obama’s Economic Reforms Are the Definition of Insanity

Why America Should Default and You Should Live Abroad: Q&A with Doug Casey

Doug Casey-No Way Out-Stock, Bond and Real Estate Markets Will Collapse

Russia conspired to destroy US dollar with China – clip from Meltdown America documentary

http://www.caseyresearch.com/lg/meltdown-video

 

 

Here a bubble, there a bubble: Ol’ Marc Faber

Even after the Dow and the S&P 500 closed at new all-time highs, closely followed contrarian Marc Faber keeps sounding the alarm.

“We have a bubble in everything, everywhere,” the publisher of The Gloom, Boom & Doom Report told CNBC’s “Squawk Box” on Friday. Faber has long argued that the Federal Reserve’s massive asset purchasing programs and near-zero interest rates have inflated stock prices.

The catalyst for a market decline, as he sees it, could be a “raise in interest rates, not engineered by the Fed,” referring an increase in bond yields.

 

Faber also expressed concern about American consumers. “Their cost of living have gone up more than the salary increases, so they’re getting squeezed. So that’s why retailing is not doing particularly well.”

A real black swan event, he argued, would be a global recession. “The big surprise will be that the global economy slows down and goes into recession. And that will shock markets.”

If economies around the world can’t recovery with the Fed and other central banks pumping easy money into the system, that would send a dire message, Faber added. He believes the best way for world economies to recover is to cut the size of government.

Read MoreBond market hears Fed hawks; stocks see doves

There’s a dual-economy in the U.S. and around the world with the rich doing really well and others struggling, he said. “[But] the rich will get creamed one day, especially in Europe, on wealth taxes.”

On the other end of the market spectrum, longtime stock market bull Jeremy Siegel told CNBC on Tuesday (ahead of Wednesday’s Fed policy statement leaving interest rate guidance unchanged) that he stands by his Dow 18,000 prediction.

The Wharton School professor sees second half economic growth of 3 to 4 percent, S&P 500 earnings near $120, and the start of Fed rate hikes in the spring or summer of 2015

http://www.cnbc.com/id/102016166

 

Fed and TWTR Overvaluation, Evidence of Looming Market Crash: Stockman

The Federal Reserve Wednesday reassured investors that it will hold interest rates near zero for a “considerable time” after it ends the bond-buying program known as quantitative easing in October. In response, the Dow Jones Industrial Average (^DJI) closed at a new record high.

Former Director of the Office of Management and Budget and author of the book, The Great Deformation, David Stockman, has significant concerns about that very policy.

“I’m worried… that we’ve got the greatest bubble created by a central bank in human history,” he told Yahoo Finance.

In a recent blog post, Stockman offered a handful of high-flying stocks as evidence of what he sees as “madness.”

                                               “…Twitter, is all that is required to remind us that once

                                               again markets are trading in the nosebleed section

                                               of history, rivaling even the madness of March 2000.”

Behind the madness

In an interview with Yahoo Finance, Stockman blamed Fed policy for creating that madness.

“We have been shoving zero-cost money into the financial markets for 6-years running,” he said. “That’s the kerosene that drives speculative trading – the carry trades. That’s what the gamblers use to fund their position as they move from one momentum play and trade to another.”

And that, he says, is not sustainable. While Stockman believes tech stocks are especially overvalued, he warns that it’s not just tech valuations that are inflated. “Everything’s massively overvalued, and it’s predicated on zero-cost overnight money that continues these carry trades; It can’t continue.”

And he still believes, as he has for some time – so far, incorrectly – that there will be a day of reckoning.

“When the trades begin to unwind because the carry cost has to normalize, you’re going to have a dramatic re-pricing dislocation in these financial markets.”

As Yahoo Finance’s Lauren Lyster points out in the associated video, investors who heeded Stockman’s advice last year would have missed out on a 28% run-up in stocks. But Stockman remains steadfast in his belief that the current Fed policy and the resultant market behavior can not continue. “I think what the Fed is doing is so unprecedented, what is happening in the markets is so unnatural,” he said. “This is dangerous, combustible stuff, and I don’t know when the explosion occurs – when the collapse suddenly is upon us – but when it happens, people will be happy that they got out of the way if they did.”

 

 

Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: Thursday, September 11, 2014
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 11, 2014

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Sep 10, 2014
Week ended
Sep 10, 2014
Change from week ended
Sep 3, 2014 Sep 11, 2013
Reserve Bank credit 4,377,690 +    4,183 +  761,693 4,379,719
Securities held outright1 4,159,537 +    2,675 +  765,361 4,160,521
U.S. Treasury securities 2,439,657 +    2,671 +  401,376 2,440,637
Bills2          0          0          0          0
Notes and bonds, nominal2 2,325,368 +    2,678 +  386,333 2,326,351
Notes and bonds, inflation-indexed2     97,755          0 +   11,737     97,755
Inflation compensation3     16,534 -        7 +    3,306     16,531
Federal agency debt securities2     41,562          0 -   22,868     41,562
Mortgage-backed securities4 1,678,317 +        4 +  386,851 1,678,322
Unamortized premiums on securities held outright5    208,963 -      219 +    5,815    208,907
Unamortized discounts on securities held outright5    -18,664 +       21 -   12,958    -18,654
Repurchase agreements6          0          0          0          0
Loans        291 -        8 +       18        352
Primary credit         10 -       18 -        8         53
Secondary credit          0          0          0          0
Seasonal credit        247 +        9 +       94        266
Term Asset-Backed Securities Loan Facility7         34          0 -       68         34
Other credit extensions          0          0          0          0
Net portfolio holdings of Maiden Lane LLC8      1,664 -        1 +      171      1,665
Net portfolio holdings of Maiden Lane II LLC9         63          0 -        1         63
Net portfolio holdings of Maiden Lane III LLC10         22          0          0         22
Net portfolio holdings of TALF LLC11         44          0 -       80         44
Float       -675 -       69 +       94       -627
Central bank liquidity swaps12         77 +        1 -      243         77
Other Federal Reserve assets13     26,369 +    1,784 +    3,517     27,349
Foreign currency denominated assets14     22,933 -      353 -      737     22,801
Gold stock     11,041          0          0     11,041
Special drawing rights certificate account      5,200          0          0      5,200
Treasury currency outstanding15     46,103 +       14 +      820     46,103
Total factors supplying reserve funds 4,462,967 +    3,844 +  761,776 4,464,863

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Sep 10, 2014
Week ended
Sep 10, 2014
Change from week ended
Sep 3, 2014 Sep 11, 2013
Currency in circulation15 1,292,467 -      442 +   84,956 1,291,993
Reverse repurchase agreements16    266,584 +      818 +  173,996    267,602
Foreign official and international accounts    102,228 -      296 +    9,640    107,303
Others    164,356 +    1,115 +  164,356    160,299
Treasury cash holdings        165 +        4 +       23        164
Deposits with F.R. Banks, other than reserve balances     52,715 -    6,170 -   19,233     53,117
Term deposits held by depository institutions          0          0          0          0
U.S. Treasury, General Account     39,081 -    3,787 +      530     31,872
Foreign official      5,432 -    1,134 -    3,562      5,241
Other17      8,202 -    1,248 -   16,201     16,004
Other liabilities and capital18     63,991 -        1 +      818     63,033
Total factors, other than reserve balances,
absorbing reserve funds
1,675,922 -    5,792 +  240,561 1,675,910
Reserve balances with Federal Reserve Banks 2,787,045 +    9,636 +  521,214 2,788,954

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of
the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements.
7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8. Refer to table 4 and the note on consolidation accompanying table 9.
9. Refer to table 5 and the note on consolidation accompanying table 9.
10. Refer to table 6 and the note on consolidation accompanying table 9.
11. Refer to table 7 and the note on consolidation accompanying table 9.
12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned
to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the
foreign central bank.
13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.  Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
14. Revalued daily at current foreign currency exchange rates.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
17. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
18. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items

Millions of dollars

Memorandum item Averages of daily figures Wednesday
Sep 10, 2014
Week ended
Sep 10, 2014
Change from week ended
Sep 3, 2014 Sep 11, 2013
Securities held in custody for foreign official and international accounts 3,338,309 -      417 +   61,832 3,343,937
Marketable U.S. Treasury securities1 3,010,563 -      456 +   86,414 3,016,027
Federal agency debt and mortgage-backed securities2    285,805 +       28 -   29,008    285,934
Other securities3     41,942 +       12 +    4,427     41,976
Securities lent to dealers     10,669 +    1,648 -    1,429     11,123
Overnight facility4     10,669 +    1,648 -    1,429     11,123
U.S. Treasury securities      9,860 +    1,721 -    1,405     10,373
Federal agency debt securities        810 -       72 -       23        750

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 10, 2014

Millions of dollars

Remaining Maturity Within 15
days
16 days to
90 days
91 days to
1 year
Over 1 year
to 5 years
Over 5 year
to 10 years
Over 10
years
All
Loans1        118        234          0          0          0        352
U.S. Treasury securities2
Holdings          0         90      3,194 1,037,162    742,261    657,930 2,440,637
Weekly changes          0          0          0 +    1,615 -        1 +    2,037 +    3,651
Federal agency debt securities3
Holdings      1,556      1,329      3,584     32,746          0      2,347     41,562
Weekly changes          0          0          0          0          0          0          0
Mortgage-backed securities4
Holdings          0          0          0         10      4,698 1,673,614 1,678,322
Weekly changes          0          0          0          0 +      863 -      857 +        6
Asset-backed securities held by
TALF LLC5
         0          0          0          0          0          0          0
Repurchase agreements6          0          0          0
Central bank liquidity swaps7         77          0          0          0          0          0         77
Reverse repurchase agreements6    267,602          0    267,602
Term deposits          0          0          0          0

Note: Components may not sum to totals because of rounding.
…Not applicable.

1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden
Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY’s statement of condition consistent with consolidation
under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the
original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. Cash value of agreements.
7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name Wednesday
Sep 10, 2014
Mortgage-backed securities held outright1 1,678,322
Commitments to buy mortgage-backed securities2     80,643
Commitments to sell mortgage-backed securities2          0
Cash and cash equivalents3          4
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name Wednesday
Sep 10, 2014
Net portfolio holdings of Maiden Lane LLC1      1,665
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2          0
Accrued interest payable to the Federal Reserve Bank of New York2          0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3          0
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of June 30, 2014. Any assets purchased after
this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.

5. Information on Principal Accounts of Maiden Lane II LLC

Millions of dollars

Account name Wednesday
Sep 10, 2014
Net portfolio holdings of Maiden Lane II LLC1         63
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2          0
Accrued interest payable to the Federal Reserve Bank of New York2          0
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3          0
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of June 30, 2014. Any assets purchased after
this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American
International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are
included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.

6. Information on Principal Accounts of Maiden Lane III LLC

Millions of dollars

Account name Wednesday
Sep 10, 2014
Net portfolio holdings of Maiden Lane III LLC1         22
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2          0
Accrued interest payable to the Federal Reserve Bank of New York2          0
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc.3          0
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of June 30, 2014. Any assets purchased after
this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.

7. Information on Principal Accounts of TALF LLC

Millions of dollars

Account name Wednesday
Sep 10, 2014
Asset-backed securities holdings1          0
Other investments, net         44
Net portfolio holdings of TALF LLC         44
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2          0
Accrued interest payable to the Federal Reserve Bank of New York2          0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3          0
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under theauthority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY.

TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Prior to January 15, 2013, the U.S. Treasury’s Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.

8. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital Eliminations from consolidation Wednesday
Sep 10, 2014
Change since
Wednesday Wednesday
Sep 3, 2014 Sep 11, 2013
Assets
Gold certificate account     11,037          0          0
Special drawing rights certificate account      5,200          0          0
Coin      1,930 +        8 -       62
Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,351,126 +    3,534 +  756,847
Securities held outright1 4,160,521 +    3,657 +  763,739
U.S. Treasury securities 2,440,637 +    3,651 +  399,549
Bills2          0          0          0
Notes and bonds, nominal2 2,326,351 +    3,661 +  385,784
Notes and bonds, inflation-indexed2     97,755          0 +   10,546
Inflation compensation3     16,531 -       10 +    3,219
Federal agency debt securities2     41,562          0 -   22,654
Mortgage-backed securities4 1,678,322 +        6 +  386,844
Unamortized premiums on securities held outright5    208,907 -      132 +    5,820
Unamortized discounts on securities held outright5    -18,654 +       19 -   12,787
Repurchase agreements6          0          0          0
Loans        352 -       10 +       75
Net portfolio holdings of Maiden Lane LLC7      1,665 +        1 +      167
Net portfolio holdings of Maiden Lane II LLC8         63          0 -        1
Net portfolio holdings of Maiden Lane III LLC9         22          0          0
Net portfolio holdings of TALF LLC10         44          0 -       68
Items in process of collection (0)         94 -       22 -       31
Bank premises      2,255          0 -       29
Central bank liquidity swaps11         77 +        1 -      243
Foreign currency denominated assets12     22,801 -      404 -      925
Other assets13     25,095 +    2,704 +    3,719
Total assets (0) 4,421,408 +    5,821 +  759,373

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital Eliminations from consolidation Wednesday
Sep 10, 2014
Change since
Wednesday Wednesday
Sep 3, 2014 Sep 11, 2013
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,247,980 -    2,086 +   84,510
Reverse repurchase agreements14    267,602 +   17,296 +  175,438
Deposits (0) 2,842,072 -    8,612 +  499,663
Term deposits held by depository institutions          0          0          0
Other deposits held by depository institutions 2,788,954 -   24,799 +  513,312
U.S. Treasury, General Account     31,872 +   10,836 +    1,852
Foreign official      5,241 -    1,326 -    3,524
Other15 (0)     16,004 +    6,676 -   11,978
Deferred availability cash items (0)        721 -      482 -      163
Other liabilities and accrued dividends16      6,693 -      299 -    1,529
Total liabilities (0) 4,365,067 +    5,817 +  757,919
Capital accounts
Capital paid in     28,170 +        2 +      726
Surplus     28,170 +        2 +      726
Other capital accounts          0          0          0
Total capital     56,341 +        4 +    1,454

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation accompanying table 9.
8. Refer to table 5 and the note on consolidation accompanying table 9.
9. Refer to table 6 and the note on consolidation accompanying table 9.
10. Refer to table 7 and the note on consolidation accompanying table 9.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.
12. Revalued daily at current foreign currency exchange rates.
13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
16. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal
Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury.

9. Statement of Condition of Each Federal Reserve Bank, September 10, 2014

Millions of dollars

Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account     11,037        352      4,125        338        464        824      1,349        706        278        173        291        880      1,257
Special drawing rights certificate acct.      5,200        196      1,818        210        237        412        654        424        150         90        153        282        574
Coin      1,930         32         94        124        123        320        222        276         25         46        153        182        332
Securities, unamortized premiums and discounts, repurchase agreements,
and loans
4,351,126     88,009 2,670,390    104,231     94,993    243,168    240,542    177,833     53,725     26,795     57,330    132,586    461,524
Securities held outright1 4,160,521     84,160 2,553,576     99,673     90,839    232,534    229,991    170,046     51,317     25,497     54,804    126,772    441,311
U.S. Treasury securities 2,440,637     49,370 1,497,974     58,470     53,288    136,409    134,917     99,752     30,104     14,957     32,149     74,367    258,881
Bills2          0          0          0          0          0          0          0          0          0          0          0          0          0
Notes and bonds3 2,440,637     49,370 1,497,974     58,470     53,288    136,409    134,917     99,752     30,104     14,957     32,149     74,367    258,881
Federal agency debt securities2     41,562        841     25,509        996        907      2,323      2,298      1,699        513        255        547      1,266      4,409
Mortgage-backed securities4 1,678,322     33,949 1,030,093     40,207     36,644     93,803     92,777     68,595     20,701     10,285     22,107     51,139    178,021
Unamortized premiums on securities held outright5    208,907      4,226    128,220      5,005      4,561     11,676     11,548      8,538      2,577      1,280      2,752      6,365     22,159
Unamortized discounts on securities held outright5    -18,654       -377    -11,449       -447       -407     -1,043     -1,031       -762       -230       -114       -246       -568     -1,979
Repurchase agreements6          0          0          0          0          0          0          0          0          0          0          0          0          0
Loans        352          1         44          0          0          0         34         11         61        132         20         17         33
Net portfolio holdings of Maiden
Lane LLC7      1,665          0      1,665          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
Lane II LLC8         63          0         63          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
Lane III LLC9         22          0         22          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of TALF LLC10         44          0         44          0          0          0          0          0          0          0          0          0          0
Items in process of collection         94          0          0          0          0          0         93          0          0          1          0          0          0
Bank premises      2,255        121        434         74        110        222        209        198        124         97        243        224        200
Central bank liquidity swaps11         77          4         25          6          6         16          4          2          1          0          1          1         11
Foreign currency denominated assets12     22,801      1,037      7,335      1,714      1,813      4,754      1,311        629        192         96        240        381      3,299
Other assets13     25,095        535     15,039        739        546      1,547      1,374      1,014        356        219        347        798      2,580
Interdistrict settlement account          0 +   10,547 -   58,585 +    2,678 +    9,252 +      197 +    8,040 -   10,297 -   10,950 -    2,083 -      134 +    2,635 +   48,701
Total assets 4,421,408    100,833 2,642,468    110,114    107,543    251,460    253,799    170,787     43,900     25,434     58,623    137,969    518,478

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

9. Statement of Condition of Each Federal Reserve Bank, September 10, 2014 (continued)

Millions of dollars

Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,443,974     44,572    489,349     42,766     65,118    103,568    212,875     94,569     37,360     21,242     36,783    115,911    179,862
Less: Notes held by F.R. Banks    195,994      5,311     63,063      6,357      8,870     11,177     20,690     11,915      4,937      4,278      5,302     25,736     28,359
Federal Reserve notes, net 1,247,980     39,261    426,285     36,409     56,248     92,391    192,186     82,654     32,423     16,964     31,481     90,175    151,503
Reverse repurchase agreements14    267,602      5,413    164,244      6,411      5,843     14,956     14,793     10,937      3,301      1,640      3,525      8,154     28,385
Deposits 2,842,072     53,409 2,030,175     62,876     40,791    131,999     42,547     75,315      7,510      6,356     22,882     38,429    329,783
Term deposits held by depository institutions          0          0          0          0          0          0          0          0          0          0          0          0          0
Other deposits held by depository institutions 2,788,954     53,397 1,977,410     62,837     40,788    131,731     42,538     75,306      7,510      6,355     22,881     38,428    329,774
U.S. Treasury, General Account     31,872          0     31,872          0          0          0          0          0          0          0          0          0          0
Foreign official      5,241          2      5,214          3          3          8          2          1          0          0          0          1          6
Other15     16,004         11     15,679         36          0        260          7          7          0          0          1          0          3
Deferred availability cash items        721          0          0          0          0          0        611          0          0        110          0          0          0
Interest on Federal Reserve notes due
to U.S. Treasury16
     1,693         19      1,199         20         10         23         86         73         20         12         20         54        155
Other liabilities and accrued
dividends17
     5,000        167      2,179        211        208        544        361        282        142        118        126        208        454
Total liabilities 4,365,067     98,270 2,624,083    105,927    103,101    239,913    250,583    169,261     43,395     25,200     58,034    137,021    510,279
Capital
Capital paid in     28,170      1,282      9,193      2,093      2,221      5,773      1,608        763        252        117        295        474      4,099
Surplus     28,170      1,282      9,193      2,093      2,221      5,773      1,608        763        252        117        295        474      4,099
Other capital          0          0          0          0          0          0          0          0          0          0          0          0          0
Total liabilities and capital 4,421,408    100,833 2,642,468    110,114    107,543    251,460    253,799    170,787     43,900     25,434     58,623    137,969    518,478

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

9. Statement of Condition of Each Federal Reserve Bank, September 10, 2014 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation below.
8. Refer to table 5 and the note on consolidation below.
9. Refer to table 6 and the note on consolidation below.
10. Refer to table 7 and the note on consolidation below.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate
equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Revalued daily at current foreign currency exchange rates.
13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
16. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank’s net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank’s earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
17. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.

The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8).

10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral Wednesday
Sep 10, 2014
Federal Reserve notes outstanding 1,443,974
Less: Notes held by F.R. Banks not subject to collateralization    195,994
Federal Reserve notes to be collateralized 1,247,980
Collateral held against Federal Reserve notes 1,247,980
Gold certificate account     11,037
Special drawing rights certificate account      5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,231,743
Other assets pledged          0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,160,521
Less: Face value of securities under reverse repurchase agreements    257,508
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,903,013

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

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When will Bureau of Land Management (BLM) Roundup 2,000 Plus Wild Horses On Utah Rangeland? — The BLM Should Do Its Job and Not Harass Neveda Ranchers! — BLM’s Appropriate Management Level (AML) of 27,000 Wild Horses and Over 40,000 Wild Horses Nationally Plus Over 50,000 in Feed Lost Costing The American Taxpayer Millions! — Herd Size Doubles Every 4 Years — Sell The Wild Horses To China and Mexico — Beef and Food Prices Soaring — Connect The Dots People — Videos

Posted on April 13, 2014. Filed under: Agriculture, American History, Beef, Blogroll, Bread, Business, College, Communications, Data, Demographics, Diasters, Economics, Education, Employment, Faith, Family, Famine, Farming, Federal Government, Federal Government Budget, Fiscal Policy, Food, Freedom, Friends, Fruit, government, government spending, history, Language, Law, liberty, Life, Links, media, Milk, People, Philosophy, Photos, Rants, Raves, Regulations, Resources, Security, Transportation, Vegetables | Tags: , , , , , , , , , , , , , , , , , |

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Wild Horses on Public Lands and the impact on Ranching and Communities

We took the show to Beaver County this week to get an on the ground look at how wild horses impact the range. In Utah the population of wild horses is over the Appropriate Management Level (AML) by 1,300 animals. Nationally the problem of dealing with the number of wild horses increases to 14,000 beyond the AML. The management of wild horses costs the BLM tens of millions of dollars every year but despite the efforts to gather wild horses off the range; the numbers keep increasing.
Chad Booth talks to Beaver County Commissioner, Mark Whitney; Iron County Commissioner, David Miller; and local rancher Mark Winch about the impacts on ranchers and the ultimate impact it has on the economies of rural Utah.

Transfer of Public Lands

Public Lands in Utah County Seat Season3, Episode 8

In recent years there has been a public outcry from Utahans asking the State to take a more active role in how management decisions are made on public lands. The take back Utah movement has looked at the history of public lands in the United States and began to ask why hasn’t Utah received the same treatment as other states in the Union. Utah has about 67% of its lands controlled and managed by the federal government. Some counties in the state are about 90% federally owned which creates a burden on the local governments because there is no property tax base to pay for the services that citizens need.

Last year Utah passed the Utah Public Lands Transfer Act, HB148; which basically asks the federal government to dispose of the remaining unallocated federal lands within the state by 2014. HB148 has opened up a conversation about what the proper role of the federal government should be in the management of public lands. Today’s show takes a look at the issues from a federal, state, and county perspective.

 

WARNING! MORE FOOD INFLATION COMING 2014 STOCK UP ASAP

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Preppers: Food Prices Rise Sharply – Up 19% for 2014!

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Food Prices The Shocking Truth

Food Prices The Shocking Truth 1 of 2

Food Prices The Shocking Truth 2 of 2

Worldwide Food Shortages

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Where’s the (Cheap) Beef? US Prices Soar

Meat Beef Bacon Costs Rise due to Drought? Inflation! Starvation Great-Depression Dollar$

Beef prices explained

BLM Wild Horse Strategy

The BLM’s Wild Horse and Burro Program

BLM Socorro Water Trap Method Wild Horse Gather

The World Food Crisis ~ Special Report

Don’t Fence Me In – Roy Rogers & The Sons of the Pioneers –

Roy Rogers & Sons of The Pioneers Sing “The Last Roundup”

Wild horses targeted for roundup in Utah rangeland clash

Reuters
Two of a band of wild horses graze in the Nephi Wash area outside Enterprise, Utah

.

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Two of a band of wild horses graze in the Nephi Wash area outside Enterprise, Utah, April 10, 2014. REUTERS/Jim …

By Jennifer Dobner

ENTERPRISE, Utah (Reuters) – A Utah county, angry over the destruction of federal rangeland that ranchers use to graze cattle, has started a bid to round up federally protected wild horses it blames for the problem in the latest dustup over land management in the U.S. West.

Close to 2,000 wild horses are roaming southern Utah’s Iron County, well over the 300 the U.S. Bureau of Land Management has dubbed as appropriate for the rural area’s nine designated herd management zones, County Commissioner David Miller said.

County officials complain the burgeoning herd is destroying vegetation crucial to ranchers who pay to graze their cattle on the land, and who have already been asked to reduce their herds to cope with an anticipated drought.

Wild horse preservation groups say any attempt to remove the horses would be a federal crime.

On Thursday county workers, accompanied by a Bureau of Land Management staffer, set up the first in a series of metal corrals designed to trap and hold the horses on private land abutting the federal range until they can be moved to BLM facilities for adoption.

“There’s been no management of the animals and they keep reproducing,” Miller said in an interview. “The rangeland just can’t sustain it.”

The conflict reflects broader tension between ranchers, who have traditionally grazed cattle on public lands and held sway over land-use decisions, and environmentalists and land managers facing competing demands on the same land.

The Iron County roundup comes on the heels of an incident in neighboring Nevada in which authorities sent in helicopters and wranglers on horseback to confiscate the cattle herd of a rancher they say is illegally grazing livestock on public land.

In Utah, county commissioners warned federal land managers in a letter last month that the county would act independently to remove the horses if no mitigation efforts were launched.

“We charge you to fulfill your responsibility,” commissioners wrote. “Inaction and no-management practices pose an imminent threat to ranchers.”

The operation was expected to last weeks or months.

“The BLM is actively working with Iron County to address the horse issue,” Utah-based BLM spokeswoman Megan Crandall said, declining to comment further.

Attorneys for wild horse preservation groups sent a letter this week to Iron County commissioners and the BLM saying the BLM, under federal law, cannot round up horses on public lands without proper analysis and disclosure.

“The BLM must stop caving to the private financial interests of livestock owners whenever they complain about the protected wild horses using limited resources that are available on such lands,” wrote Katherine Meyer of Meyer, Glitzenstein and Crystal a Washington, DC-based public interest law firm representing the advocates.

LONG-RUNNING PROBLEM

The BLM puts the free-roaming wild horse and burro population across western states at more than 40,600, which it says on its website exceeds by nearly 14,000 the number of animals it believes “can exist in balance with other public rangeland resources and uses.”

Wild horse advocates point out that the tens of thousands of wild horses on BLM property pales into comparison with the millions of private livestock grazing on public lands managed by the agency.

Wild horses have not been culled due to budget constraints, according to Utah BLM officials, who say their herds grow by roughly 20 percent per year.

Pressure on rangeland from the horses may worsen this summer due to a drought that could dry up the already sparse available food supply, according to Miller.

“We’re going to see those horses starving to death out on the range,” he said. “The humane thing is to get this going now.”

Adding to frustration is BLM pressure on ranchers to cut their cattle herds by as much as 50 percent to cope with the drought, Miller said.

A tour of Iron County rangeland, not far from the Nevada border, illustrates the unchecked herds’ impact on the land, said Jeremy Hunt, a fourth generation Utah rancher whose cattle graze in the summer in a management area split through its middle by a barbed wire fence.

On the cattle side of the fence, the sagebrush and grass landscape is thick and green. The other, where a group of horses was seen on Thursday, is scattered with barren patches of dirt and sparse vegetation.

“This land is being literally destroyed because they are not following the laws that they set up to govern themselves,” said Hunt, who also works as a farmhand to make ends meet for his family of six.

“I want the land to be healthy and I want be a good steward of the land,” he added. “But you have to manage both sides of the fence.”

 

 

Wholesale Prices in U.S. Rise on Services as Goods Stagnate

 

Wholesale prices in the U.S. rose in March as the cost of services climbed by the most in four years while commodities stagnated.

The 0.5 percent advance in the producer-price index was the biggest since June and followed a 0.1 percent decrease the prior month, the Labor Department reported today in Washington. The recent inclusion of services may contribute to the gauge’s volatility from month-to-month, which will make it more difficult to determine underlying trends.

Rising prices at clothing and jewelry retailers and food wholesalers accounted for much of the jump in services, even as energy costs retreated, signaling slowing growth in emerging markets such as China will keep price pressures muted. With inflation running well below the Federal Reserve’s goal, the central bank is likely to keep borrowing costs low in an effort to spur growth.

“Every six months or so service prices seem to pop, but over the year, service prices tend to dampen inflation more often than not,” Jay Morelock, an economist at FTN Financial in New York, wrote in a note. “One month of price gains is not indicative of a trend.”

Also today, consumer confidence climbed this month to the highest level since July, a sign an improving job market is lifting Americans’ spirits. The Thomson Reuters/University of Michigan preliminary April sentiment index rose to 82.6 from 80 a month earlier.

 
Photographer: Craig Warga/Bloomberg

Rising prices at clothing and jewelry retailers and food wholesalers accounted for much… Read More

Shares Fall

Stocks dropped, with the Standard & Poor’s 500 Index heading for its biggest weekly decline since January, as disappointing results from JPMorgan Chase & Co. fueled concern that corporate earnings will be weak. The S&P 500 fell 0.4 percent to 1,826.29 at 10:02 a.m. in New York.

Today’s PPI report is the third to use an expanded index that measures 75 percent of the economy, compared to about a third for the old metric, which tallied the costs of goods alone. After its first major overhaul since 1978, PPI now measures prices received for services, government purchases, exports and construction.

Estimates for the PPI in the Bloomberg survey of 72 economists ranged from a drop of 0.2 percent to a 0.3 percent gain.

Core wholesale prices, which exclude volatile food and energy categories, climbed 0.6 percent, the biggest gain since March 2011, exceeding the projected 0.2 percent advance of economists surveyed by Bloomberg. They dropped 0.2 percent in February.

Past Year

The year-to-year gain in producer prices was the biggest since August and followed a 0.9 percent increase in the 12 months to February. Excluding food and energy, the index also increased 1.4 percent year to year following a 1.1 percent year-to-year gain in February.

The cost of services climbed 0.7 percent in March, the biggest gain since January 2010. Goods prices were unchanged and were up 1.1 percent over the past 12 months.

Wholesale food costs climbed 1.1 percent in March, led by higher costs for meats, including pork and sausage. Energy costs fell 1.2 percent last month.

Food producers and restaurants say they’re paying more for beef, poultry, dairy and shrimp. At General Mills Inc. (GIS), maker of Yoplait yogurt, Cheerios cereal and other brands, rising dairy prices helped push retail profit down 11 percent in the third quarter, said Ken Powell, chairman and chief executive officer of the Minneapolis-based company. Powell called the inflation “manageable.”

Food Prices

“While the economy is improving slowly and incomes are strengthening slowly, they are improving,” Powell said on a March 19 earnings call. “As incomes continue to grow and consumers gain confidence that will be a positive sign for our category.”

Today’s PPI report provides a glimpse into the consumer-price index, the broadest of three inflation measures released by the Labor Department. The CPI, due to be released April 15, probably climbed 0.1 percent in March, according to the median forecast in a Bloomberg survey.

The wholesale price report also offers an advance look into the personal consumption expenditures deflator, a gauge monitored closely by the Fed. Health care prices make up the largest share of the core PCE index, which excludes food and energy costs. The next PCE report is due from the Commerce Department May 1.

This week, Fed policy makers played down their own predictions that interest rates might rise faster than they had forecast, according to minutes of the Federal Open Market Committee’s March meeting. The minutes bolstered remarks made by last month by Chair Janet Yellen.

“If inflation is persistently running below our 2 percent objective, that is a very good reason to hold the funds rate at its present range for longer,” Yellen said at a March 19 press conference following the committee meeting.

 

http://www.bloomberg.com/news/2014-04-11/wholesale-prices-in-u-s-rise-more-than-forecast-on-services.html

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No Tapering! — Spending Addiction Disorder (SAD) — Fed Must Continue Massive Financing of Deficits and Debt of Federal Government — Digital Electronic Money (DEM) Creation Continues At $85 Billion Per Month or $1,020 Billion Per Year Pace — U.S. Economy Stagnating Below 3 Percent GDP Growth Trend Line — U.S. Dollar Devalued — Currency War Continues — Abolish The Fed Videos

Posted on September 19, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, Fiscal Policy, government spending, history, History of Economic Thought, Inflation, Investments, IRS, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Photos, Politics, Programming, Psychology, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , |

5-reasons-the-fed-taper-will-kick-off-in-september

Tracking-the-Fed-September

U.S. National Debt Clock

BUREAU OF THE FISCAL SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  08/13

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   163,072                261,539                 98,466
     NOVEMBER                                                                  152,402                289,704                137,302
     DECEMBER                                                                  239,963                325,930                 85,967
     JANUARY                                                                   234,319                261,726                 27,407
     FEBRUARY                                                                  103,413                335,090                231,677
     MARCH                                                                     171,215                369,372                198,157
     APRIL                                                                     318,807                259,690                -59,117
     MAY                                                                       180,713                305,348                124,636
     JUNE                                                                      260,177                319,919                 59,741
     JULY                                                                      184,585                254,190                 69,604
     AUGUST                                                                    178,860                369,393                190,533
     SEPTEMBER                                                                 261,566                186,386                -75,180

       YEAR-TO-DATE                                                          2,449,093              3,538,286              1,089,193

   CURRENT YEAR

     OCTOBER                                                                   184,316                304,311                119,995
     NOVEMBER                                                                  161,730                333,841                172,112
     DECEMBER                                                                  269,508                270,699                  1,191
     JANUARY                                                                   272,225                269,342                 -2,883
     FEBRUARY                                                                  122,815                326,354                203,539
     MARCH                                                                     186,018                292,548                106,530
     APRIL                                                                     406,723                293,834               -112,889
     MAY                                                                       197,182                335,914                138,732
     JUNE                                                                      286,627                170,126               -116,501
     JULY                                                                      200,030                297,627                 97,597
     AUGUST                                                                    185,370                333,293                147,923

       YEAR-TO-DATE                                                          2,472,542              3,227,888                755,345


http://www.fms.treas.gov/mts/mts0813.txt

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InflationAug2013

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US Chairman of the Federal Reserve Ben Bernanke listens to questions as he testifies before a House Budget Committee on Capitol Hill in Washington

2013-09-17-bernanke-hands-over-control

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Tracking-the-Fed-September

Federal Reserve Vice Chair Janet Yellen addresses a conference in Washington

No Fed Taper: What Does It Mean for Your Money? (9/18/13)

Federal Reserve: No Taper (9/18/13)

Ron Paul: Fed Decision To Not Taper Is A Really Bad Sign

Ron Paul: Taper Fakeout Means Fed Is Worried

Breaking News: Federal Reserve Will Not Taper

Rick Santelli Reacts to Federal Reserve No Taper

Why The Fed. Will INCREASE, NOT DECREASE, It’s QE/Money Printing. By Gregory Mannarino

In Business – Fed Taper Pause Fuels Commodities Rally

To Taper, or Not to Taper

FED Says No Taper — We Need A War, Gun Confiscation And Control Of Internet First — Episode 166

JIM RICKARDS: Fed Will TAPER in September or Never, and the Looming MONETARY System COLLAPSE [50]

James Rickards on “Why The Fed Will NOT Taper Quantitative Easing”

Peter Schiff: “The party is coming to an end”.

JIM ROGERS – When the FED stops PRINTING FIAT CURRENCY the COLLAPSE will be here. PREPARE NOW

Fed decision Just idea of tapering caused huge ruckus

Background Articles and Videos

Milton Friedman – Abolish The Fed

Milton Friedman On John Maynard Keynes

Free to Choose Part 3: Anatomy of a Crisis (Featuring Milton Friedman)

Murray Rothbard – To Expand And Inflate

The Founding of the Federal Reserve | Murray N. Rothbard

The Origin of the Fed – Murray N. Rothbard

Murray Rothbard on Hyperinflation and Ending the Fed

Murray N. Rothbard on Milton Friedman (audio – removed noise) part 1/5

Keynes the Man: Hero or Villain? | Murray N. Rothbard

WASHINGTON (AP) — The Federal Reserve has decided against reducing its stimulus for the U.S. economy, saying it will continue to buy $85 billion a month in bonds because it thinks the economy still needs the support.

The Fed said in a statement Wednesday that it held off on tapering because it wants to see more conclusive evidence that the recovery will be sustained.

Stocks spiked after the Fed released the statement at the end of its two-day policy meeting.

In the statement, the Fed says that the economy is growing moderately and that some indicators of labor market conditions have shown improvement. But it noted that rising mortgage rates and government spending cuts are restraining growth.

The bond purchases are intended to keep long-term loan rates low to spur borrowing and spending.

The Fed also repeated that it plans to keep its key short-term interest rate near zero at least until unemployment falls to 6.5 percent, down from 7.3 percent last month. In the Fed’s most recent forecast, unemployment could reach that level as soon as late 2014.

Many thought the Fed would scale back its purchases. But interest rates have jumped since May, when Fed Chairman Ben Bernanke first said the Fed might slow its bond buys later this year. But Bernanke cautioned that the reduction would hinge on the economy showing continued improvement.

In its statement, the Fed says that the rise in interest rates “could slow the pace of improvement in the economy and labor market” if they are sustained.

The Fed also lowered its economic growth forecasts for this year and next year slightly, likely reflecting its concerns about interest rates.

The statement was approved on a 9-1 vote. Esther George, president of the Federal Reserve Bank of Kansas City, dissented for the sixth time this year. She repeated her concerns that the bond purchases could fuel the risk of inflation and financial instability.

The decision to maintain its stimulus follows reports of sluggish economic growth. Employers slowed hiring this summer, and consumers spent more cautiously.

Super-low rates are credited with helping fuel a housing comeback, support economic growth, drive stocks to record highs and restore the wealth of many Americans. But the average rate on the 30-year mortgage has jumped more than a full percentage point since May and was 4.57 percent last week — just below the two-year high.

The unemployment rate is now 7.3 percent, the lowest since 2008. Yet the rate has dropped in large part because many people have stopped looking for work and are no longer counted as unemployed — not because hiring has accelerated. Inflation is running below the Fed’s 2 percent target.

The Fed meeting took place at a time of uncertainty about who will succeed Bernanke when his term ends in January. On Sunday, Lawrence Summers, who was considered the leading candidate, withdrew from consideration.

Summers’ withdrawal followed growing resistance from critics. His exit has opened the door for his chief rival, Janet Yellen, the Fed’s vice chair. If chosen by President Barack Obama and confirmed by the Senate, Yellen would become the first woman to lead the Fed.

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Ben Bernanke Boom Bubble Blower Busted By The Bubble Film — Videos

Posted on May 1, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Diasters, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government, government spending, history, History of Economic Thought, Homes, Inflation, Investments, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, Math, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Taxes, Technology, Transportation, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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Ben Bernanke Is The Most Dangerous Man In US History

BREAKING 2013 Economic Collapse Peter Schiff

The Bubble film official trailer

Raw footage of Jim Rogers interview – The Bubble film

Raw Footage of Doug Casey Interview from The Bubble

Raw footage of Jim Grant interview from The Bubble film

Raw footage of Peter Schiff Interview from The Bubble

The Bubble – Raw footage of Marc Faber interview

Raw Footage of Peter Wallison Interview from The Bubble

Raw Footage of Joseph Salerno Interview from The Bubble

Raw Footage of Robert Murphy interview from The Bubble

Raw footage of Roger Garrison Interview from The Bubble

Raw footage of Ron Paul interview from The Bubble film

The Bubble film panel at Freedom Fest 2012

U.S. Debt Clock

http://www.usdebtclock.org/

Background Articles and Videos

The American Dream By The Provocateur Network

Slow “growth”,GDP makeover, Keynesians demand more debt and inflation

The Fed, Ben Bernanke & the Economy (4/30/13)

Coming Economic Collapse Peter Schiff RT America

Austrian Theory of the Trade Cycle | Roger W. Garrison

Tom Woods Discusses his New Documentary, The Bubble

Director of “The Bubble” Jimmy Morrison interview with ManifestLiberty.com Part 1/2

Director of “The Bubble” Jimmy Morrison interview with ManifestLiberty.com Part 2/2

Fed Keeps Interest Rates Low, Continues Bond Buying Program

The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.

Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.

While recent meetings have been remarkable for signs of dissent over the long-standing Fed policy, the sentiment this month turned towards concerns about “downside risks” to growth, though the FOMC made no mention of the recent set of weak economic data.

The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.

Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.

While recent meetings have been remarkable for signs of dissent over the long-standing Fed policy, the sentiment this month turned towards concerns about “downside risks” to growth, though the FOMC made no mention of the recent set of weak economic data.

While stocks have soared to new highs, the economy remains in slow-growth mode as it has throughout Chairman Ben Bernanke’s term, which began just before the onset of the financial crisis.

The stock market reacted little to the 2 pm news, maintaining an earlier selloff spurred over jobs fears.

Fed officials have long bemoaned Washington fiscal policy, with Congress and the White House in a continued stalemate that has resulted in a raft of mandated tax increases and spending cuts known as the sequester.

The May FOMC statement kept up the heat.

“Household spending and business fixed investment advanced, and the housing sector has strengthened further, but fiscal policy is restraining economic growth,” the statement said.

The Fed’s decision came the same day as a report on private payrolls fell well below expectations, indicating just 119,000 new jobs created, a seven-month low.

While critics worry about inflation, the Fed continued to conclude that “expectations have remained stable.”

The Fed has vowed to keep interest rates exceptionally low until unemployment falls to 6.5 percent from its current 7.6 percent and until inflation reaches 2.5 percent from its current 1.5 percent.

-By CNBC.com Senior Writer Jeff Cox.

http://www.cnbc.com/id/100695681

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The Coming U.S. Stock and Bond Market Crash of 2013-2014 — The Stock and Bond Big Bubble Burst — Central Banks Buying Gold! — Videos

Posted on April 27, 2013. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Computers, Constitution, Crime, Demographics, Diasters, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Health Care, history, History of Economic Thought, Immigration, Inflation, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Radio, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Television, Transportation, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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BREAKING 2013 Economic Collapse Peter Schiff

Overdose: The Next Financial Crisis

David Stockman: We’re in a Monetary Fantasy Land

Ben Bernanke Is The Most Dangerous Man In US History

US BOND BUBBLE’S READY TO BURST!

Max Keiser: Propped Up Bond Market Set To Burst In April

U.S. Government Bond Bubble to Burst, Faber Says 

James Grant and James Turk discuss gold, the Fed and the fiscal situation of the USA

USA Will Die – Economic Collapse 2013 – Jim Rogers

JIM ROGERS – 2013 to Be Bad, ‘God Knows What Will Happen in 2014′

Jim Rogers Predicts Global Depression In 2013-2014

Peter Schiff on Max Keiser – Stopping the Global Financial Crisis

Keiser Report: Psyops & Debt Diets

Max Keiser: Will the next crash be on Bonds?

MAX KEISER: Colossal Collapse Coming! Keiser Report

MAX KEISER: Colossal Collapse Coming! Keiser Report

ALEX JONES & Max Keiser 2013, Year of The GREAT CRASH!

Peter Schiff – Dollar Could Collapse This Fall 2013

Peter Schiff – Economic Collapse 2013

Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards

Jim Rickards  Gold is Money ($7,000 Gold Price)

James Rickards Predicts US Inflation in 2013 due to the Devaluation of the US dollar

Currency Wars: Jim Rickards

Financial Pearl Harbor’ is a Real Threat Warns a Pentagon Adviser

CNBC Global Recession Is Coming – Marc Faber

Dr. Marc Faber – US is in 50-100 trillion worth of debt!

Marc Faber ‘We Are in the End Game’ Part 1

Marc Faber  ‘We Are in the End Game Part 2

Marc Faber – We Could See a 1987-Like Market Crash – Be Prepared and Get OUT!

Marc Faber-No Government Complies With Anything

Total Economic Collapse, Death of the Dollar, Impovershment, WWIII, Marc Faber Interview

Gerald Celente Deal Or No Debt Deal, The Debt Still Exists

Bill Gross: Economy Faces Structural Headwinds, “I Think We Are Facing Bubbles Almost Everywhere”

ECONOMIC CRASH WORLDWIDE STARTING

Harry Dent predicts global economic crash in 2013

Planned Economic Collapse 2013-2014

Background Articles and Videos

Meltdown (pt 1-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 2-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 3-4) The Secret History of the Global Financial Collapse.2010 

Meltdown – pt 4-4 The Secret History of the Global Financial Collapse (2010) 

The Fall of Lehman Brothers

Goldman Sachs: Power and Peril – Documentary

The Ascent of Money: A Financial History of The World by Niall Ferguson Epsd. 1-5 (Full Documentary)

The Fall of the Dollar – The Death of a Fiat Currency part 1

The Fall of the Dollar – The Death of a Fiat Currency part 2

The First 12 Hours of a US Dollar Collapse

LIFE HIDDEN TRUTH 2013 GLOBAL FINANCIAL CRISIS

 

Billionaires Dumping Stocks, Economist Knows Why

 

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.

Editor’s Note: Wiedemer Gives Proof for His Dire Predictions in This Shocking Interview.

Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.

The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.

A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”

The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”

And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”

In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.

It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.

“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.

“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola#ixzz2RhO2R5ey
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http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola

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Dr. Lacy Hunt–Roadblocks To Recovery — The Economic Consequences of Debt — Heading Towards The Bang Point — “This is how the world ends not with a bang but a whimper.” — Videos

Posted on March 5, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Federal Government Budget, Fiscal Policy, government, history, Inflation, Investments, Law, liberty, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Raves, Taxes, Video, Wealth, Wisdom | Tags: , , , , , , , , |

“Only those who will risk going too far can possibly find out how far one can go.”

“This is the way the world ends

Not with a bang but a whimper.”

“Most of the evil in this world is done by people with good intentions.”

T.S. Eliot

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“There Was No Increase In The Standard of Living Since 1997″ – Lacy Hunt

Kung Fu Girl interviews Lacy Hunt

Roadblocks to Recovery an Interview with Dr. Lacy Hunt

We Move Along Toward the Bang Point – Lacy Hunt

An Early Warning Sign is the Currency Depreciates – Lacy Hunt; Part II

Former Fed Official warns of multi-decade downturn PART 1 – Lacy Hunt

Former Fed Official warns of multi-decade downturn PART 2 – Lacy Hunt

T. S. Eliot – The Hollow Men

The Hollow Men T.S. Eliot How Cultures Die

Background Articles and Videos

Velocity of Money (Circulation) Part 1

Velocity of Money (Circulation) Part 2

Related Posts on Pronk Palisades

Lewis J. Spellman Interviews Dr. Lacy Hunt–The Morass of Debt–Videos

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Excessive Speculation, Intercontinental Exchange and Government Regulation

Posted on December 29, 2012. Filed under: American History, Blogroll, Communications, Demographics, Diasters, Economics, Education, Energy, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Oil, People, Philosophy, Politics, Programming, Rants, Resources, Video, Wisdom | Tags: , , , , , , , , , , , , , , |

ICE_logo

Gas Prices Explained

Mike Masters on Regulating Commodities Speculation

Michael W. Masters (Better Markets & Masters Capital Management)

Court Strikes Down CFTC Regulation to Limit Excessive Speculation

Michael Greenberger on Crude Oil Speculation

5th OPEC International Seminar – Michael Masters

Michael Masters Chairman, Better Markets Inc Michael W Masters is the founder and Managing Member of Masters Capital Management, an investment management firm. He is also a Partner in Masters Capital Nanotechnology, a venture capital fund. Mr Masters, an expert on the topic of commodities speculation and financial reform, has testified before many Congressional committees and government agencies, including the House Energy Subcommittee, the Commodity Futures Trading Commission (CFTC) and the Financial Crisis Inquiry Commission. Recently, he participated in joint SEC-CFTC roundtable discussions on a variety of security-based swaps issues. Speaking out about the far-reaching harmful effects of unregulated commodities speculation and the need for financial reform, Mr Masters has made numerous appearances in media outlets around the world. He has also addressed consumer and corporate groups, and has served as an expert panellist before international and investor groups. He is the founder of Better Markets, a Washington, DC-based non-profit, non-partisan organization established to promote transparency and accountability in the financial markets for the public interest. He was the 2004 winner of the “Open Your Heart” award from Hedge Funds Care and is a 1989 graduate of the University of Tennessee.
The OPEC International Seminar is now regarded as one of the premier events on the world energy calendar, bringing together Ministers from OPEC Member Countries and other oil-producing countries, heads of intergovernmental organizations, chief executives of national and international oil companies, other industry leaders, renowned academics, analysts and media.
The 5th OPEC International Seminar, held in Vienna’s historic Hofburg Palace on 13–14 June 2012, focussing on the theme ‘Petroleum: Fuelling Prosperity, Supporting Sustainability’. The latest in the series of Seminars, which began in 2001, provided fresh impetus to key industry issues and developed existing and new avenues of dialogue and cooperation.

Secret Exemptions Allowed Speculators to Distort Futures Markets

FACTBOX: NYSE enters the ICE Age

Intercontinental Exchange to buy NYSE

IntercontinentalExchange (ICE): Delivering same-day response to regulatory requests

Derivatives still a ticking time bomb! Sept 2011

Jeff Sprecher, Chairman & CEO, IntercontinentalExchange

**MUST SEE** The Real Reason Gas Prices Are High – Best Explanation!

Will CFTC Limit Excessive Speculation?

Gas Prices & Oil Speculation

Oil Market Manipulation, Gas Prices, Energy Exploration, Securities Exchange Commission

How Wall St Speculation Drives Up Gas Prices

Find Out How Gasoline Gets to Your Tank

IntercontinentalExchange, Inc.,

“…IntercontinentalExchange, Inc., known as ICE, is an American financial company that operates Internet-based marketplaces which trade futures and over-the-counter (OTC) energy and commodity contracts as well as derivative financial products. While the company’s original focus was energy products (crude and refined oil, natural gas, power, and emissions), recent acquisitions have expanded its activity into the “soft” commodities (sugar, cotton and coffee), foreign exchange and equity index futures.

In 2011, ICE and NASDAQ OMX Group joined forces to bid against Deutsche Börse after the latter announced a $9.5 billion deal to merge with NYSE Euronext. The two U.S. bidders and then the German exchange ultimately withdrew after their bids encountered regulatory antitrust resistance. In December 2012 NYSE Euronext agreed to be acquired by ICE pending regulator approval.

ICE is organized into three business lines:

  • ICE Markets — futures, options, and OTC markets. Energy futures are traded via ICE Futures Europe; soft commodity futures/options are handled by ICE Futures U.S.
  • ICE Services — electronic trade confirmations and education.
  • ICE Data — electronic delivery of market data, including real-time trades, historical prices and daily indices.

Contracts sold through ICE Futures U.S. are processed through a subsidiary, ICE Clear U.S. (ICEUS). In May 2008, ICE launched its own Clearing House, ICE Clear, with divisions for Europe, US, Canada & Trust (ICEU).[2]

Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore, with regional telecommunications hubs in Chicago, New York, London and Singapore.

History

In the late 1990s, Jeffrey Sprecher, ICE’s founder, chairman, and Chief Executive Officer, acquired Continental Power Exchange, Inc. with the objective of developing an Internet-based platform to provide a more transparent and efficient market structure for OTC energy commodity trading. In May 2000, IntercontinentalExchange (ICE) was established, with its founding shareholders representing some of the world’s largest energy traders. The company’s stated mission was to transform OTC trading by providing an open, accessible, multi-dealer, around-the-clock electronic energy exchange. The new exchange offered the trading community better price transparency, more efficiency, greater liquidity and lower costs than manual trading.

In June 2001, ICE expanded its business into futures trading by acquiring the International Petroleum Exchange (IPE), now ICE Futures Europe, which operated Europe’s leading open-outcry energy futures exchange. Since 2003, ICE has partnered with the Chicago Climate Exchange (CCX) to host its electronic marketplaces. In April 2005, the entire ICE portfolio of energy futures became fully electronic. In April 2010 ICE bought CCX’s owner Climate Exchange PLC for 395 million pounds ($622 million). Climate Exchange PLC also owns the European Climate Exchange (ECX).[3]

ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. The company expanded rapidly in 2007, acquiring the New York Board of Trade (NYBOT),[4] ChemConnect (a chemical commodity market), and the Winnipeg Commodity Exchange. In March 2007 ICE made an unsuccessful $9.9 billion bid for the Chicago Board of Trade, which was instead acquired by the Chicago Mercantile Exchange.[5]

In January 2008, ICE partnered with TSX Group’s Natural Gas Exchange, expanding their offering to clearing and settlement services for physical OTC natural gas contracts.[6]

NYSE Euronext

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Borse, speculation developed that ICE and Nasdaq could mount a counter-bid of their own for NYSE Euronext. ICE was thought to be looking to acquire the American exchange’s derivatives business, Nasdaq its cash equities business. As of the time of the speculation, “NYSE Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion.”[7] Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Merc (CME) to join in what would be probably be an $11-12 billion counterbid for NYSE.[8] On April 1, ICE and Nasdaq made an $11.3 billion offer which was rejected April 10 by NYSE. Another week later, ICE and Nasdaq sweetened their offer, including a $.17 increase per share to $42.67 and a $350 million breakup fee if the deal were to encounter regulatory trouble. The two said the offer was a $2 billion (21%) premium over the Deutsche offer and that they had fully committed financing of $3.8 billion from lenders to finance the deal.[9] The Justice Department, also in April, “initiated an antitrust review of the proposal, which would have brought nearly all U.S. stock listings under a merged Nasdaq-NYSE.” In May, saying it “became clear that we would not be successful in securing regulatory approval,” the Nasdaq and ICE withdrew their bid.[10] The European Commission then blocked the Deutsche merger on 1 February 2012, citing the fact that the merged company would have a near monopoly.[11][12]

In December 2012, ICE announced it would buy NYSE Euronext for $8 billion, pending regulatory approval. Jeffrey Sprecher will retain his position as Chairman and CEO.[13] The boards of directors of both ICE and NYSE Euronext approved the acquisition.[14]

 Key subsidiaries subject to regulation

 ICE Clear Credit LLC

  • see main article ICE Clear Credit LLC
  • Clearing entity for credit default swaps (CDS)
  • Regulated by
    • CFTC – Derivatives Clearing Organization
    • SEC – Registered Securities Clearing Agency

ICE Clear Europe Limited

  • Clearing entity for credit default swaps (CDS)
  • CFTC – Derivatives Clearing Organization
  • Regulated by
    • SEC – Registered Securities Clearing Agency
    • U.K. Financial Services Authority (FSA) – Recognised Clearing House
    • U.K Financial Services Authority (FSA) – Settlement Finality Designation (SFD) under the Financial Markets and Insolvency Regulations 1999
    • Bank of England (U.K.s central bank) – regulated as an Inter-Bank Payment System (Banking Act 2009)

ICE Futures U.S., Inc.

  • Trades futures and options in three main areas
    • Agricultural – e.g. Sugar No. 11, Cotton No. 2
    • Currency – e.g. U.S. Dollar Index, more than 50 currency pairs
    • Equity index – e.g. Russell Indexes
  • Regulated by
    • CFTC – Exchange

ICE Clear U.S., Inc.

  • Clears products traded on ICE Futures U.S., Inc.
  • Regulated by
    • CFTC – Exchange

Commodities traded on the exchange

  • Coal
  • Crude and Refined products
  • Emissions
  • Natural Gas
  • Power
  • Cocoa
  • Coffee C
  • Cotton No. 2
  • FCOJ A
  • Orange juice concentrate
  • Sugar No. 11
  • Russell Indices
  • US Dollar Index
  • Iron Ore Swaps

http://en.wikipedia.org/wiki/IntercontinentalExchange

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Federal Reserve Will Continue To Debase and Devalue The U.S. Dollar By Keeping Interest Rates Near Zero To 2015–The Crime of The Century–The Rape of American Savers and Investors–No Exit Strategy–Videos

Posted on December 12, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Tax Policy, Unemployment, Wealth, Wisdom | Tags: , , , , , , |

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Press Conference with FOMC Chairman Ben S. Bernanke

Federal Reserve Balance Sheet Illustrated

Fed Ties Interest Rates to Unemployment Rate

Fed links interest and unemployment rates 

Ben Bernanke throws the dollar over the Currency Cliff

CNBC Marc Faber ‘Reduce Government by Fifty Percent Minimum’

Jim Rickards: the Fed is Racing to Create Inflation Before the US Economy Implodes

Stephanie Kelton on Modern Monetary Theory’s Goals for Full Employment and

Competitive Currency Devaluation 

The GOLD standard, the DOLLAR standard & a New GLOBAL CURRENCY Order

The Truth about Gas Prices And Why It Is Like It Is! Shocking Truth Revealed

Peter Schiff on RT America – Financial Crisis

Jim Rickards Discusses **$4,000** Gold on CNBC

Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards

Jim Rogers – Fiat Currency aka Fake Money aka Worthless

Bernanke: We Cannot Offset Full Impact of Cliff

The Exit Strategy

BernankeCartoonfromGordonLong-1

Quantitative Easing Explained

Overdose: The Next Financial Crisis

Background Articles and Videos

Glenn Beck – Devaluing The Dollar

The Fed and the Power Elite | Murray N. Rothbard

01 – The Economic Crisis (The Fall of America and the Western World) 

05 – The Power Elite Pt.1, with Alex Jones (The Fall of America and the Western

06 – The Power Elite Pt.2, with David Icke (The Fall of America and the Western

Federal Reserve Launches QE4!

By Eric McWhinnie

“…On Wednesday, the Federal Reserve concluded its two-day Federal Open Market Committee meeting. Despite launching a third round of quantitative easing known as QE-infinity in September, the central bank launched QE4.

In the latest FOMC statement, the Federal Reserve met market expectations and said it will buy $45 billion of long-term Treasury securities, in order to replace Operation Twist that expires at the end of the year. Furthermore, it decided to keep interest rates at historic lows until at least as long the unemployment rate remains above 6.5 percent.

Two Key Parts of the FOMC statement are listed below:

  • “To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will purchase longer-term Treasury securities after its program to extend the average maturity of its holdings of Treasury securities is completed at the end of the year, initially at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and, in January, will resume rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.”
  • “To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored.”

Fed’s balance sheet is on pace to explode…

QE programs not only help to juice markets higher through dollar devaluation, they expand the Federal Reserve’s balance sheet to record breaking levels. The central bank’s balance sheet is already nearing $3 trillion and is now on pace to hit almost $4 trillion by the end of 2013 with the recently launched QE4. Francisco Blanch, a global investment strategist with Bank of America, believes the Federal Reserve will maintain bond purchases until the end of 2014, a move that could send the central bank’s balance sheet skyrocketing to $5 trillion.

Bill Gross, founder and co-chief investment officer of PIMCO, estimates that the economy will need to add roughly 200,000 jobs per month for the next 4-5 years in order to meet the Fed’s unemployment target. In other words, interest rates are not planned to rise anytime soon. However, he also says that believing the central bank can keep control of interest rates at current levels is a “decent stretch.” Furthermore, it should be noted that the Fed only pegged interest rates to the unemployment rate.

Bernanke Will Flood U.S. With Dollars In QE4. Now, He Needs Uncle Sam’s Help

Abram Brown, Forbes Staff

“…Consider the millions of pounds of paper that the Federal Reserve will need to afford its easy monetary policy, which today further earned its latest epithet: quantitative easing infinity. Fed Chairman Ben Bernanke pledged to buy $85 billion a month in Treasurys and mortgage-backed securities starting in Jan., and will continue the program until unemployment falls to 6.5%.

Call it QE3.5 or QE4 or whatever. It’s all the same thing: a concerted effort to heal the economy and add some life to this lackluster recovery.  Bernanke and the other central bank policymakers on the Federal Open Markets Committee will keep the printing press rolling for years to come. The Fed estimates that the jobless rate won’t hit the new benchmark for 2.5 years. Other economists expect the country will fall to that level before then, but even optimistic forecasts say it will likely take two years.

Bernanke can do little more to accomplish his goals. “Today’s moves indicate that the accommodation switch has been turned on, and the data have to tell the Fed when to stop,” says Barclays economist Michael Gapen. “There is little left for the Fed to do at this point, in terms of altering its policy. While these is ongoing uncertainty about the stance of fiscal policy, the FOMC has gone to great lengths in a short time to alter its policy framework completely.” Indeed, easing has already lowered interest rates to rock-bottom; the 10-Year T-bill yields a miniscule 1.81% (not far from the record lows, near 1.4%, that we saw this year). Despite this, great mounds—more than $500 billion by some estimates—of investable and spendable dollars sit unused, unproductive.

This is not to say that a fist-full-of-dollars monetary policy can’t buoy the markets, at least a small amount. Stocks rallied this afternoon, following the Fed’s announcement. The Dow Jones industrial average climbed 0.6% to 13,322.74. The S&P 500 gained 0.4%. And the Nasdaq composite went up 0.1%.

Consumer staples stocks performed the best. Ford added 0.4%. Luluemon Athletic increased 1.3%.

Financials also led the market higher. Wells Fargo rose 1.2%. Citigroup gained 1.6%, as Bank of America ticked up 0.8%.

Now, Bernanke needs cooperation from elsewhere in Washington, D.C. Monetary policy must run parallel to fiscal policy for the economy to truly pick up. Brinkmanship over the fiscal cliff—and whether any more fiscal stimuli will come—damages both business and consumer spending. Without that, the economy will remain stuck in neutral. Spending is the key economic driver in the United States, accounting for roughly 70% of all growth. No one can spend until firmly establishing the size of future paychecks.

There’s a problem with Bernanke’s ultra-accommodating posture, though. (More than one, of course, depending on where you land in Keynesian debates.) It might very well be encouraging the game of chicken that currently captivates our nation’s pols. “Maybe the people in Washington who are tussling over the fiscal cliff feel a little more comfortable in tussling because the Fed is giving us very easy money,” says Pierre Ellis, Decision Economics’ senior managing director. Significantly, with the Fed expanding its balance sheet, to keep all of us feeling more comfortable, and theoretically investing and spending, too, it may limit some effectiveness of any fiscal cliff agreement. Hope that Washington accounts for the burden that will come from the payments on all this debt when interest rates do start to rise again. …”

http://www.forbes.com/sites/abrambrown/2012/12/12/ben-bernanke-has-started-the-printing-press-now-he-needs-uncle-sams-help/

Wiedemer to Moneynews: More Fed Easing Is ‘Insurance Policy’ Against Market Collapse

By Forrest Jones and David Nelson

“…The Federal Reserve’s decision to beef up an existing monetary stimulus program may in reality be little more than a move to prevent stock prices from collapsing, said Robert Wiedemer, financial commentator and best-selling author of “Aftershock.”

At its December monetary policy meeting, the Fed announced plans to bolster its current quantitative easing (QE) program, a monetary stimulus tool that sees the U.S. central bank buy $40 billion in
mortgage-backed securities a month from banks on an open-ended basis to spur recovery.

Going forward, the Fed will now purchase an additional $45 billion in Treasury holdings from financial institutions alongside its purchases of mortgage debt.

QE functions by pumping liquidity into the economy in a way that keeps interest rates low to encourage investing and hiring, with rising stock prices and a weaker dollar as side effects.

The additional Treasury purchases will replace the Fed’s so-called Operation Twist program, under which the Fed swaps $45 billion a month in short-term Treasurys for long-termer U.S. government debt — that policy will expire at year end as planned.

The Fed will begin injecting $85 billion in freshly printed money into the economy a month to stave off economic decline by pushing down borrowing costs to encourage investing and hiring, though the idea may really be to keep stock prices high
and investors happy.

“I think it’s an insurance policy more for the stock market than it is for unemployment,” Wiedemer told Newsmax TV in an exclusive interview.

“I think it’s an insurance policy not necessarily against keeping the market where it is, but an insurance policy against any kind of collapse,”  added Wiedemer, a managing director of Absolute Investment Management, an investment-advisory firm for individuals with more than $300 million under management.

“They may see a weakness in the stock market that we are not necessarily seeing. This should certainly prevent a collapse, but I don’t know if it is going to keep [the Dow] up at 13,000.”

The Fed added that it will keep benchmark interest rates at a target 0.25 percent until one of two things happen: the unemployment rate drops to 6.5 percent or inflation rates threaten to break 2.5 percent.

“The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates
that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation
between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal and longer-term inflation expectations continue to be ell anchored,” the Fed said in its
December monetary policy statement. …”

Read Latest Breaking News from
Newsmax.com http://www.moneynews.com/StreetTalk/Wiedemer-Fed-Easing-Insurance/2012/12/12/id/467498?s=al&promo_code=1115A-1#ixzz2EyUmSc23

Globalization 3.0 Inflation v Deflation Debate Update

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R. Christopher Whalen: Inflated: How Money and Debt Built the American Dream–Videos

Posted on December 10, 2012. Filed under: Banking, Blogroll, Business, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, History of Economic Thought, Homes, Immigration, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Resources, Tax Policy, Technology, Unions, Weather, Wisdom | Tags: , , , , , , , |

Inflated_How_Money_and_Debt_Built_The American_Dream

r_Christopher_Whalen

“Whalen is smart. He’s one of the few worthy of your time. Others: Marc Faber, Hugh Hendry, Doug Dachille, David Rosenberg, Howard Davidowitz, James Grant, Peter Schiff, Niall Ferguson, Doug Casey, Jim Rogers.”

Chris Whalen Drops the F-Bomb on Wall Street while sounding the Bankruptcy Alarm

Whalen: Libor Is A Collusive Price Set By Collusive Banks

Whalen: Go Back To The Future To Fight Fraud With Equity Receivers

Value Investing Conference 2010 – Part 4

Inflated: How Money and Debt Built the American Dream | Christopher Whalen

‘Inflated: How Money and Debt Built the American Dream’

Chris Whalen: “The Fed let the real economy go to hell”

Web Extra Chris Whalen: Is JP Morgan blowing hot air with clawbacks? Plus, Natural Gas forecasts

CHRIS WHALEN: “PAPER ASSETS ARE HEADED TO ZERO” 7-6-2010

Christopher Whalen, A New Deal For The American Economy 1/7

Christopher Whalen, A New Deal For The American Economy 2/7

Christopher Whalen, A New Deal For The American Economy 3/7

Christopher Whalen, A New Deal For The American Economy 4/7

Christopher Whalen, A New Deal For The American Economy 5/7

Christopher Whalen, A New Deal For The American Economy 6/7

Christopher Whalen, A New Deal For The American Economy 7/7

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Niall Ferguson–The Ascent of Money: A Financial History of The World–Videos

Posted on October 28, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, European History, history, Inflation, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Regulations, Video, Wealth | Tags: , , , , , , , , |

The Ascent of Money: A Financial History of The World

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Crime of the Century–Global Banking Cartel Grand Theft of American People Continues–The Hidden Inflation Tax–Videos

Posted on September 1, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Natural Gas, People, Philosophy, Politics, Rants, Raves, Regulations, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , |

The Federal Reserve Explained 

Bank Bailouts Explained 

Quantitative Easing Explained

Clarke and Dawe – Quantitative Easing 

What is quantitative easing all about? 

Alan Greenspan ~ The Federal Reserve Is Above The Law

Dear America, Your Taxes Are Going Up 20%, Food and Gas Prices Will Skyrocket, Fed Drops Bomb On Us 

Exposing the Federal Reserve!

CURRENCY COLLAPSE Why The Government Won’t Act

CURRENCY COLLAPSE: How the US Government Is Destroying the Dollar

CURRENCY COLLAPSE: Interest Rates, The Fed, and History Repeating 

Press TV-On the Edge with Max Keiser-Global Banking Cartel-08-10-2010 (Part 1) 

Press TV-On the Edge with Max Keiser-Global Banking Cartel-08-10-2010 (Part 2) 

G Edward Griffin Creature From Jekyll Island A Second Look at the Federal Reserve 

The Creature From Jekyll Island (by G. Edward Griffin) 

Ron Paul on Understanding Power: the Federal Reserve, Finance, Money, and the Economy 

The US Economy is Doomed

Masters of the Universe, The Secret Birth of the Federal Reserve

“Bernanke Threatens The Congress”  We will cause an Economic Collapse if you audit the Fed!

Ron Paul to Ben Bernanke “What Would It Take For You To Admit You Were Wrong? 

Bernanke signals Fed ready to act

By Robin Harding in Jackson Hole

“…Ben Bernanke sent a clear signal that the US Federal Reserve was ready to do  more to support the US economy, saying that its condition was “far from  satisfactory”.

Speaking at the Fed’s annual gathering in Jackson Hole, Wyoming, Mr Bernanke  offered no direct promise of further intervention. But by spelling out the  feeble state of the economy, the Fed’s intention to be forceful and its range of  policy tools, he raised expectations of action in September.

“Taking due account of the uncertainties and limits of its policy tools, the  Federal Reserve will provide additional policy accommodation as needed to  promote a stronger economic recovery and sustained improvement in labour market  conditions,” said the Fed chairman on Friday.

The clearest hint that Mr Bernanke is ready to do more came from his  disappointment with the economy’s progress. He noted some recovery over the past  few years but said that improvement in the labour market has been “painfully  slow”.

He said “unless the economy begins to grow more quickly than it has recently,  the unemployment rate is likely to remain far above levels consistent with  maximum employment for some time”.

Much of the speech was taken up with a review of the Fed’s actions since the  financial crisis. Mr Bernanke argued that large-scale asset purchases aimed at  driving down long-term interest rates – known as quantitative easing, or QE – have worked.

“A balanced reading of the evidence supports the conclusion that central bank  securities purchases have provided meaningful support to the economic recovery  while mitigating deflationary risks,” he said.

Mr Bernanke reviewed four possible costs of additional asset purchases. He  said they could damage the function of securities markets, raise inflation  expectations, undermine financial stability or cause the Fed to make financial  losses. He said those costs were uncertain, but concluded: “At the same time,  the costs of non-traditional policies, when considered carefully, appear  manageable, implying that we should not rule out the further use of such  policies if economic conditions warrant.”

Paul Dales of Capital Economics in London, arguing that Mr Bernanke had paved  the way for a third wave of quantitative easing, said: “The speech comes across  as a staunch defence of the effectiveness of unconventional monetary policy.”

By midday, the S&P had rebounded from a drop after Mr Bernanke’s  comments, and closed up 0.5 per cent. The 10-year Treasury note rose, pushing  its yield 5 basis points lower to 1.58 per cent, as markets decided Mr  Bernanke’s comments did signal further easing.

Mr Bernanke argued that the Fed’s forecasts of future interest rates – it  anticipates rates staying low at least until late 2014 – illustrated its resolve  in supporting a recovery.

In one possible hint of future policy, he said that the current late-2014  date “is broadly consistent with prescriptions coming from a range of standard  benchmarks”, but that “a number of considerations also argue for planning to  keep rates low for a longer time than implied by policy rules developed during  more normal periods”. …”

http://www.ft.com/cms/s/0/540b1fe0-f374-11e1-9c6c-00144feabdc0.html#axzz25JoVb4VM

Background Articles and Videos

G. Edward Griffin   The Dangerous Servant   A Discourse on Government

 

Meltdown (pt 1-4) The Secret History of the Global Financial Collapse 2010 

Meltdown (pt 2-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 3-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 4-4) The Secret History of the Global Financial Collapse 2010

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James Grant–Videos

Posted on August 3, 2012. Filed under: American History, Banking, Blogroll, Books, Climate, College, Communications, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Raves, Resources, Unemployment, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , |

Jim Grant explains how Central Banks are Waging War on Supply and Demand

James Grant Explains a World without the Federal Reserve – Capital

James Grant: Gold, the Refuge of the Idiots 

“What Does the Fed Do?” with James Grant — Ron Paul Fed Lecture Series, Pt 2/3

Q&A: Author James Grant

Value Investing Conference 2010 – Part 2

James Grant – on Bernanke, bank capital & lack of capitalism 

Jim Grant 

Never before has the Fed done what it’s doing now” 

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Obama Boy and Obama Girl Have A Crush on Obama–Reality Check–Out of The Mouths of Babes–Videos

Posted on July 5, 2012. Filed under: American History, Babies, Blogroll, Business, College, Communications, Economics, Education, Federal Government, government, government spending, Health Care, history, Language, Law, liberty, Life, People, Philosophy, Politics, Rants, Raves, Taxes | Tags: , , , , , , , , , , , , |

“Pleasure chasing and dissipation are ineffective palliatives. Where people live autonomous lives and are not badly off, yet are without abilities or opportunities for creative work or useful action, there is no telling to what desperate and fantastic shifts they might resort in order to give meaning and purpose to their lives.”

Eric Hoffer, True Believer, page 54

Best of Obama Girl:      Crush On Obama

Obama Boy – I Have A Crush On Obama

“It is the true believer’s ability to “shut his eyes and stop his ears” to facts that do not deserve to be either seen or heard which is the source of his unequaled fortitude and constancy. He cannot be frightened by danger nor disheartened by obstacle not baffled by contradictions because he denies their existence.”

~Eric Hoffer, The True Believer, page 76

Reality Check–Crush Obama

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY

The Collapse of The American Dream Explained in Animation

President Obama’s Spending

“…Spending has gone up from $2.98 trillion in 2008—the year before Obama came into office—to a proposed $3.80 trillion in 2013. That is a 28-percent increase in five years, which represents a compound annual growth rate of 5.0 percent. Because the economy has stagnated during this period, spending has increased as a share of GDP. …”

http://www.cato-at-liberty.org/president-obamas-spending/

Recent US Federal Deficit Numbers

Obama Deficits

Bush Deficits

FY 2013*: $901 billion

FY 2009: $1,413 billion

FY 2012*: $1,327 billion

FY 2008: $459 billion

FY 2011: $1,300 billion

FY 2007: $161 billion

FY 2010: $1,293 billion

Although the federal deficit is the amount each year by which federal outlays in the federal budget exceed federal receipts, the gross federal debt increases each year by substantially more than the amount of the deficit each year. That is because a substantial amount of federal borrowing is not counted in the budget.

http://www.usgovernmentspending.com/federal_deficit_chart.html

U.S. Debt Clock

http://www.usdebtclock.org/

George Carlin – You are a slave

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Press Conference with Chairman of the FOMC, Ben S. Bernanke–Videos

Posted on April 28, 2012. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Raves, Regulations, Tax Policy, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , |

Press Conference with Chairman of the FOMC, Ben S. Bernanke

FOMC Statement: http://www.federalreserve.gov/newsevents/press/monetary/20120425a.htm

Federal Open Market Committee: http://www.federalreserve.gov/monetarypolicy/fomc.htm

Background Articles and Videos

Fed’s No. 2 Strongly Backs Low-Rate Policy 

Janet Yellen, S.F. Federal Reserve Bank, discusses US recovery from recession – Haas School 

Haas School Professor Emeritus Janet Yellen, CEO of the San Francisco Federal Reserve Bank, discusses the current US economy and her forecast for the remainder of 2009. Her presentation at the Haas School of Business, UC Berkeley, is part of the Dean’s Speaker Series focused on the recent financial crisis. (May 05, 2009)

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Peter Schiff’s exclusive interview with Allan Meltzer–Video

Posted on April 27, 2012. Filed under: American History, Banking, Blogroll, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Health Care, history, Inflation, Investments, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Tax Policy, Taxes, Unemployment, Video, Weather, Wisdom | Tags: , , , , |

Peter Schiff’s exclusive interview with Allan Meltzer at The Atlantic Economy Summit

Background Articles and Videos

Allan Meltzer on the History of the Federal Reserve – Part 1 

Part 1 of 3: The Process of Writing the History of the Federal Reserve. Allan Meltzer’s much-anticipated second volume of the History of the Federal Reserve was released in spring 2010. These three videos feature Professor Meltzer talking about the Federal Reserve and the process of writing the book.

Allan Meltzer on the History of the Federal Reserve – Part 2

Part 2 of 3: Why Should We Care About The Fed Being Independent? Allan Meltzer’s much-anticipated second volume of the History of the Federal Reserve was released in spring 2010. These three videos feature Professor Meltzer talking about the Federal Reserve and the process of writing the book.

Allan Meltzer on the History of the Federal Reserve – Part 3 

A History of the Federal Reserve: A Conversation between Paul Volcker and Allan H. Meltzer

As the Federal Reserve continues to take steps to boost the economy and navigate through an uncertain economic future, Allan H. Meltzer’s acclaimed history of the Federal Reserve uses the past to provide lessons for today’s policymakers and scholars. At this event, Meltzer participates in a discussion of his book A History of the Federal Reserve, 1913–1986 (University of Chicago Press, 2010) with Paul Volcker, former chairman of the Federal Reserve under presidents Jimmy Carter and Ronald Reagan. AEI economist and former Federal Reserve official Vincent R. Reinhart moderates. 

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Lewis J. Spellman–U.S. Sovereign Risk–Videos

Posted on April 20, 2012. Filed under: American History, Banking, Books, Business, College, Communications, Demographics, Diasters, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Tax Policy, Taxes, Unions, Video, Wealth, Wisdom | Tags: , , , , , , , , , , |

Professor Lew Spellman

US Sovereign Risk Part 1-1: Reality Bites Introduction

US Sovereign Risk Part 1-2: Reality Bites Introduction

US Sovereign Risk Part 2: Growth of Debt in the US

US Sovereign Risk Part 3-1: Political Economy of the Growth of Government Debt

US Sovereign Risk Part 3-2: Political Economy of the Growth of Government Debt

US Sovereign Risk Part 3-3: Political Economy of the Growth of Government Debt

US Sovereign Risk Part 4-1: Why the Financial Market Supports Treasuries Despite the Risk

US Sovereign Risk Part 4-2: Why the Financial Market Supports Treasuries Despite the Risk

US Sovereign Risk Part 5-1: How the Market Reins in an Out of Control Sovereign

US Sovereign Risk Part 5-2: How the Market Reins in an Out of Control Sovereign

    US Sovereign Risk Part 6: Capital Safe Havens

The Spellman Report

“…Professor Lew Spellman Lew Spellman has taught financial markets at the McCombs School of Business at the University of Texas at Austin, where he  is  Professor of Finance since the 1970s. He has also been on the faculty of Stanford University, the LBJ School of Public Affairs, the UT School of Law, and the University of California, Berkeley.

Professor Spellman’s teaches financial markets and institutions at both the graduate and undergraduate level with an emphasis on analyzing and interpreting current financial market trends and policy developments.  His academic publications appear in the Journal of Finance, Journal of Financial and Quantitative Analysis, The Journal of Money, Credit and Banking and the Journal of Banking and Finance among others. He is author of The Depositor Firm and Industry: History, Theory and Regulation.

His experience outside of academics includes government service as Assistant to the Chairman of the President’s Council of Economic Advisors and Economist with the Federal Reserve Board. His published works generally concern the market pricing of financial institution claims. Professor Spellman’s business interests include serving as Director and Chairman of Investments, Magna Carta Insurance Companies. Previously, he served as Chairman and CEO of Real Rate Financial and Electronic Exchange Technologies. He holds several U.S. patents relating to inflation adjusting financial instruments that led to the development of the Treasury TIPS instrument.

Lew Spellman holds the degrees of BBA and MBA from the University of Michigan and MA and PhD in economics from Stanford University. …”

http://thespellmanreport.com/about/

 

Related Posts On Pronk Palisades

 

Lewis J. Spellman–Quantitative Easing 2 and Inflation–Video

Lewis J. Spellman Interviews Dr. Lacy Hunt–The Morass of Debt 1–Videos

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Tom A. Coburn–The Debt Bomb: A Bold Plan To Stop Washington From Bankrupting America–Videos

Posted on April 17, 2012. Filed under: American History, Blogroll, Business, College, Communications, Demographics, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, government, government spending, Health Care, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, People, Philosophy, Politics, Rants, Raves, Regulations, Tax Policy, Taxes, Unemployment, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , |

“…Overview

In a nation whose debt has outgrown the size of its entire economy, the greatest threat comes not from any foreign force but from Washington politicians who refuse to relinquish the intoxicating power to borrow and spend. Senator Tom Coburn reveals the fascinating, maddening story of how we got to this point of fiscal crisis-and how we can escape.

Long before America’s recent economic downturn, beltway politicians knew the U.S. was going bankrupt. Yet even after several so-called “change” elections, the government has continued its wasteful ways in the face of imminent danger. With passion and clarity, Coburn explains why Washington resists change so fiercely and offers controversial yet commonsense solutions to secure the nation’s future.

At a time when millions of Americans are speculating about what is broken in Washington, The Debt Bomb is a candid, thoughtful, non-partisan expose of the real problems inside our government. Coburn challenges the conventional wisdom that blames lobbyists, gridlock, and obstructionism, and places the responsibility squarely where it belongs: on members of Congress in both parties who won’t let go of the perks of power to serve the true interests of the nation-unless enough citizens take bold steps to demand action.

“Democracy never lasts long. It soon wastes, exhausts, and murders itself. There was never a democracy yet that did not commit suicide.” -John Adams

Throughout a distinguished career as a business owner, physician, and U.S. senator, Tom Coburn has watched his beloved republic careen down a suicidal path. Today, the nation stands on the precipice of financial ruin, a disaster far more dangerous to our safety than any terrorist threats we face. Yet Coburn believes there is still hope-if enough Americans are willing to shake the corridors of Washington and demand action.

With an insider’s keen eye and a caregiver’s deft touch, Coburn diagnoses the mess that career politicians have made of things while misusing their sacred charge to govern.

Coburn’s incisive analysis:

· Reveals the root causes of America’s escalating financial crisis

· Exposes Washington’s destructive appetite for wasteful spending, power grabs, backroom deals, and quick non-fixes

· Rises above partisanship to implicate elected officials of all stripes in steering the nation off course

· Lays out a commonsense guide to restoring order

· Concludes with a clarion call and sound advice for Americans who would dedicate themselves to defusing the debt bomb

Above all, Coburn believes the United States can continue as a beacon of opportunity for future generations-but how we act today will determine whether we deliver the nation to our children and grandchildren fully alive, on life support, or without a pulse. …”

http://www.barnesandnoble.com/w/the-debt-bomb-md-tom-a-coburn-tom-a/1106523522

U.S. Debt Clock

http://www.usdebtclock.org/

US National Debt Growing Faster Than GDP (4/9/2012)

U.S. National Debt Documentary Part 1

 

U.S. National Debt Documentary Part 2

U.S. National Debt Documentary Part 3 

U.S. National Debt Documentary Part 4

U.S. National Debt Documentary Part 5

 

The award-winning documentary I.O.U.S.A. opened up America’s eyes to the consequences of our nation’s debt and the need for our government to show more fiscal responsibility. Now that more Americans and elected officials are aware of our fiscal challenges, the producers of I.O.U.S.A. created I.O.U.S.A.: Solutions, a follow-up special focusing on solutions to the fiscal crisis. Learn more at http://www.iousathemovie.com/.

IOUSA Solutions: Part 1 of 5 

IOUSA Solutions: Part 2 of 5 

IOUSA Solutions: Part 3 of 5 

IOUSA Solutions: Part 4 of 5 

IOUSA Solutions: Part 5 of 5 

 

Krauthammer: Obama’s debt increase “radical, unprecedented”

[yotube=http://www.youtube.com/watch?v=oyyocogAgwY]

Exclusive Video  Tony Robbins Deconstructs the National Debt

Dr. Coburn on CNBC’s Mad Money discussing the budget deficit facing the U.S. 

(Thursday, June 10 2010) Jim Cramer discusses importance of getting a handle on the national debt, the current budget deficit, and ways to expand Congress’ knowledge of economics and budgeting by cutting spending.

Coburn on CNBC’s Squawk Box: Healthcare Law Huge Contributor to Debt, Deficit 

Oklahoma Senator Tom Coburn Blasts Everyone in New Book: Buzz Politics 4.17 

Coburn Urging the Senate to End Duplication, Pass Amendment that Saves $10 Billion

HSGAC Hearing on Reducing Duplication

(Wednesday, March 21 2012) Dr. Coburn stressing the importance of taking advantage of the GAO’s recommendations for eliminating duplication and savings hundreds of billions in taxpayer dollars in today’s HSGAC hearing titled, “Retooling Government for the 21st Century: The President’s Reorganization Plan and Reducing Duplication”.

Coburn on The Kudlow Report on Problems w/ Obamacare & Gov’t-run Healthcare 

Military spending, collapse of US empire 

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Four Reasons Why Big Government Is Bad Government 

David Walker – America at a Crossroads 

It’s Simple to Balance The Budget Without Higher Taxes

Eight Reasons Why Big Government Hurts Economic Growth 

Free Markets and Small Government Produce Prosperity 

Deficits are Bad, but the Real Problem is Spending 

Spending Restraint, Part I: Lessons from Ronald Reagan and Bill Clinton 

Spending Restraint, Part II: Lessons from Canada, Ireland, Slovakia, and New Zealand 

Background Articles and Videos

Debt and Deficit in a Nutshell

Coburn book “The Debt Bomb” hits the shelf today

By Rick Couri

“…Senator Tom Coburn hates it when taxpayer money is wasted. Now he has a new book out that points directly at the people and organizations he thinks are the worst offenders. The book is called “The Debt Bomb” and he holds no punches. “We lack the courage to do what’s in the best long term interest of the country because we always put short term political considerations first” he explained.

The Senator says the book is easy to follow because it goes step by step “first of all we tell the story of where we are and how we got here” he said. So how did we get here? Coburn says it all stems from what he calls careerism. “Careerism tends to make members of congress do what’s best for their re-election and not what’s best for the country.”  Coburn told us people who hold elected office are always careful to pick the timing of their battles “we’re always waiting for the right moment to fix things well guess what, that right moment doesn’t come.” …”

http://www.krmg.com/news/news/local/coburn-book-debt-bomb-hits-shelf-today/nMbXy/

Related Posts On Pronk Palisades

Senator Tom Coburn–A Real Conservative and An Excellent Vice-President Candidate

Tea Party Candidates And Elected Officials New Gold Standard For Balanced And Surplus Budgets, Lower Debt Ceilings and Tax Reform: Fiscal Responsibility Pledge To The American People–Videos

The Pronk Plan for A Peace and Prosperity Economy–Videos

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I Got The Obama Gasoline Price Blues–From $1.79 Per Gallon in January 2009 to $3.59 Per Gallon in February 2012–$5 Per Gallon By July 4, 2012!–Purchasing Power Plummets–Speculation Starves Society–Hope for Regime Change–Videos

Posted on February 24, 2012. Filed under: American History, Banking, Blogroll, Books, College, Communications, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear, Nuclear Power, Oil, People, Philosophy, Politics, Public Sector, Quotations, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Transportation, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Government Theft May 1, 1933

http://gasbuddy.com/gb_retail_price_chart.aspx

http://gasbuddy.com/gb_retail_price_chart.aspx

Quantitative Easing Explained

http://www.aier.org/research/briefs/1826-the-long-goodbye-the-declining-purchasing-power-of-the-dollar

U.S. Inflation Calculator

http://www.usinflationcalculator.com/

U.S. Debt Clock 

http://www.usdebtclock.org/

Ron Paul: The Worst Thing You Can Do For A People Is Purposely Devalue The Dollar

Obama’s Got America Singin’ the Blues

As Gas Prices Rise, White House Goes on Offensive, Defensive

Ron Paul tells the real reason for the oil prices in 2007 and today 

END FED: Bernanke Explains How To Devalue the Dollar, Quantitative Easing AKA Asset Purchase

Glenn Beck – Devaluing The Dollar 

Beck: Devaluing the Dollar

Iran Sanctions, War, Israel & Gas Prices

Ron Paul Doubles Down On War Stance

Armed Chinese Troops in Texas!

Why Gas Prices Are Rising

Playing the oil prices money game

Secret Exemptions Allowed Speculators to Distort Futures Markets

Regulations on Speculation Weak, But Better Than Nothing

The Price Of Oil

Bill Black: What I’d Demand of the Fed

Bill Black’s eye-popping opening statement at House FinServ hearing on Lehman Bros.

END FED: Goldman Sachs To Blame For Global Food-Oil Price Crisis; Speculators Outnumber Hedgers

CFTC Commissioner: “A Hair Trigger Away from Economic Calamity”

Will CFTC Limit Excessive Speculation?

Oil Supply and Demand and the Next Oil Price Spike

Bio-fuels, Speculation, Land Grabs = Food Crisis

Speculation And The Frenzy In Food Markets

Food, Speculation and Parasitical Trading

Speculation Drives Up Coffee Prices

Food Speculation

Oil Speculators

Oil speculation and oil prices

The Real TRUTH Behind The OIL PRICES 

Banks Behind High Gas Prices? 

Rising Gas Prices Slowing Economy

Gas Prices Soaring 

Ripple Effect Of Rising Gas Prices Hits Consumers

Krauthammer: Obama’s “war on fossil fuels” causes rising gas prices 

Obama Wanted High Gas Prices…Gradually (2008 Election Campaign) 

Ron Paul Expains High Gas Prices & War in 2008

Can We Stop A War With Iran? 

Obama admits his intentions are to skyrocket oil prices 

Ford O’Connell On Fox News – February 24, 2012 

Ron Paul Expains High Gas Prices & War in 2007

Obama gas prices

A Coincidence Over High Gasoline Prices- MoneyTV with Donald Baillargeon

Obama Admits the Truth: He Can’t Do Much about Gas Prices

James Grant

Jim Grant – Bloomberg Interview (30/6/11)

Government Theft 2012

Press Conference with Chairman of the FOMC, Ben S. Bernanke

 Blame High Oil Prices on Speculators and Bernanke

Seven Bucks A Gallon For Gas!

2012 Energy Prices

Ed Wallace 

“…That’s right, we not only reduced our overall gasoline use in America, reversing a century-long trend, but in 2011 we dropped our demand for gasoline once again. This likely explains why in December WTI oil jumped by close to $7 a barrel, but the futures market for gasoline barely budged, moving just a few cents in either direction.

Another way to look at it is in the percentage of utilization of our refineries for this time of year. According to the government’s data, the last week of December our refineries ran at 84.2 percent of capacity. But if one compares that week to the same week in the boom years, 2003 to 2007, our refineries were running at 91.7 percent, 94.2 percent, 88.9 percent, 90.9 percent and 89.4 percent. For those who have forgotten, that last figure in that chain, marking the last week of December 2007, also denotes the month we officially slipped into a recession. Interestingly, data released by the International Energy Agency in September of 2008 showed oil and fuel demand falling worldwide starting in August of 2007.

And yet with our refinery utilization running at far below normal, we managed to have the all-time-record year for the exportation of refined fuels. While the media speculation on where oil’s price is going is almost solely based on “Asian Demand” or the prospect of a total embargo on Iranian oil, the real problem is something completely different.

What is it? It’s refiners trying to find ways to get the price of gasoline on the futures market more in line with the high price of oil. To this end it appears that three refineries in the Northeast, including Sunoco’s Marcus Hook and Philadelphia refinery, along with Conoco’s Trainer unit, will be closed. To be sure, both Conoco and Sunoco claim their first choice is to sell those refineries, but failing that they will be closed.

What does that mean to you and me?

Dow Jones Newswire quoted Gene McGillian, an energy analyst with Tradition Energy, as saying, “Gasoline futures prices are based on New York Harbor prices. When you start to see disruptions in that Northeast market, it’s definitely reflected in gasoline futures.”

Translation: Close refineries and you can bump the futures price of gasoline – and by extension the retail price – regardless of where the price of oil is.

How does oil speculation raise gas prices?

by Josh Clark

“…An oil futureis simply a contract between a buyer and seller, where the buyer agrees to purchase a certain amount of a commodity — in this case oil — at a fixed price

. Futures offer a way for a purchaser to bet on whether a commodity will increase in price down the road. Once locked into a contract, a futures buyer would receive a barrel of oil for the price dictated in the future contract, even if the market price was higher when the barrel was actually delivered.

­As in all cases, Wall Street heard the word "bet" and flocked to futures, taking the market to strange new places on the fringe of legality. In the 19th and early 20th centuries it bet on grain. In the 21st century it was oil. Despite U.S. petroleum reserves being at an eight-year high, the price of oil rose dramatically beginning in 2006. While demand rose, supply kept pace. Yet, prices still skyrocketed. This means that the laws of supply and demand no longer applied in the oil markets. Instead, an artificial market developed.

Artificial markets are volatile; they’re difficult to predict and can turn on a dime. As a result of the artificial oil market, the average price per barrel of crude oil increased from $31.61 in July 2004 to $137.11 in July 2008 1. The average cost for a gallon of regular unleaded gas in the United States grew from $1.93 to $4.09 over the same period 1.

So what happened? …"

"…What speculators do is bet on what price a commodity will reach by a future date, through instruments called <strong>derivatives</strong>. Unlike an investment in an actual commodity (such as a barrel of oil), a derivative’s value is based on the value of a commodity (for example, a bet on whether a barrel of oil will increase or decrease in price). Speculators have no hand in the sale of the commodity they’re betting on; they’re not the buyer or the seller.

By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It’s simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. As energy researcher F. William Engdahl put it, "[s]peculators trade on rumor, not fact" 1. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they’ll be able to sell it later on at the future price. This drives prices up in reality — both future and present prices — due to the decreased amount of oil currently available on the market.

Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone 1.

As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40 1. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it. …"

<a href="http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm">http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm</a>

</div>
</div>
</div>
</div>
<h4></h4>
<h4>It’s no secret that speculators are driving up fuel prices. The surprise? It’s the Fed’s fault, writes Ed Wallace</h4>
<h4>"…The Fed’s Cheap Liquidity Flood</h4>
The problem starts with Ben Bernanke, no matter how many of his Fed presidents claim they are not to blame for the high price of oil. The fact is that when you flood the market with far too much liquidity at virtually no interest, funny things happen in commodities and equities. It was true in the 1920s, it was true in the last decade, and it’s still true today.

When Richard Fisher, president of the Dallas Federal Reserve, spoke in Germany late in March, Reuters quoted him as saying: "We are seeing speculative activity that may be exacerbating price rises in commodities such as oil." Fisher added that he was seeing the signs of the same speculative trading that had fueled the first financial meltdown.

Here Fisher is in good company. Kansas City Fed President Thomas Hoenig, who has been a vocal critic of the current Fed policy of zero interest and high liquidity, has suggested that markets don’t function correctly under those circumstances. And David Stockman, Ronald Reagan’s former budget director, recently wrote a scathing article for MarketWatch, "Federal Reserve’s Path of Destruction," in which he criticizes current Fed policy even more pointedly. Stockman wrote: "This destruction is namely the exploitation of middle-class savers; the current severe food and energy squeeze on lower income households … and the next round of bursting bubbles building up among the risk asset classes."

Let’s not kid ourselves. Oil in today’s world is worth far more than the $25 a barrel it sold for over a decade ago. But the ability of markets to function properly, based on real supply and demand equations, has been destroyed by allowing ridiculous leverage and the unlimited ability to borrow the leverage at historically low interest rates.

Fortunately for our elected officials, they’ve got the public convinced that the biggest threat from government is taxation and deficits. In reality the public should be infuriated with the rising costs of nondiscretionary items such as food and gasoline, which current Fed policy actively enables. …"

<a href="http://www.businessweek.com/investor/content/apr2011/pi20110419_786652_page_2.htm">http://www.businessweek.com/investor/content/apr2011/pi20110419_786652_page_2.htm</a>
<p style="text-align: left;"><strong>Price of petroleum</strong></p>
"…The <strong>price of petroleum</strong> as quoted in news generally refers to the spot price per barrel (159 liters) of either WTI/light crude as traded on the New York Mercantile Exchange (NYMEX) for delivery at Cushing, Oklahoma, or of Brent as traded on the Intercontinental Exchange (ICE, into which the International Petroleum Exchange has been incorporated) for delivery at Sullom Voe.

The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location. Other important benchmarks include Dubai, Tapis, and the OPEC basket. The Energy Information Administration (EIA) uses the imported refiner acquisition cost, the weighted average cost of all oil imported into the US, as its "world oil price".

The demand for oil is highly dependent on global macroeconomic conditions. According to the International Energy Agency, high oil prices generally have a large negative impact on the global economic growth.<sup>[1]</sup>

The Organization of the Petroleum Exporting Countries (OPEC) was formed in 1960<sup>[2]</sup> to try and counter the oil companies cartel, which had been controlling posted prices since the so-called 1927 Red Line Agreement and 1928 Achnacarry Agreement, and had achieved a high level of price stability until 1972.

The price of oil underwent a significant decrease after the record peak of US$145 it reached in July 2008. On December 23, 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2010 began, and traded at between US$35 a barrel and US$82 a barrel in 2009.<sup>[3]</sup> On 31 January 2011, the Brent price hit $100 a barrel for the first time since October 2008, on concerns about the political unrest in Egypt.<sup>[4]</sup>

Price history before 2003

A low point was reached in January 1999 of 17 USD per barrel, after increased oil production from Iraq coincided with the Asian Financial Crisis, which reduced demand. Prices then increased rapidly, more than doubling by September 2000 to $35, then fell until the end of 2001 before steadily increasing, reaching $40–50 by September 2004.<sup>[5]</sup>
<h3>Price history from 2003 onwards</h3>
<div>Main article: 2003 to 2011 world oil market chronology</div>
<div>Further information: 2000s energy crisis</div>
<h4>Benchmark pricing</h4>
<div>Main article: Benchmark (crude oil)</div>
After the collapse of the OPEC-administered pricing system in 1985, and a short lived experiment with netback pricing, oil-exporting countries adopted a market-linked pricing mechanism.<sup>[6]</sup> First adopted by PEMEX in 1986, market-linked pricing received wide acceptance and by 1988 became and still is the main method for pricing crude oil in international trade.<sup>[6]</sup> The current reference, or pricing markers, are Brent, WTI, and Dubai/Oman.<sup>[6]</sup>
<h4> Market listings</h4>
<div>Main article: Commodities markets</div>
Oil is marketed among other products in commodities markets. See above for details. Widely traded oil futures, and related natural gas futures, include:<sup>[7]</sup>
<ul>
<li>Petroleum
<ul>
<li>Nymex Crude Future</li>
<li>Dated Brent Spot</li>
<li>WTI Cushing Spot</li>
<li>Nymex Heating Oil Future</li>
<li>Nymex RBOB Gasoline Future</li>
</ul>
</li>
<li>Natural gas
<ul>
<li>Nymex Henry Hub Future</li>
<li>Henry Hub Spot</li>
<li>New York City Gate Spot</li>
</ul>
</li>
</ul>
Most of the above oil futures have delivery dates in all 12 months of the year.<sup>[8]</sup>
<h4>Speculation</h4>
The surge in oil prices in the past several years has led some commentators to argue that at least some of the rise is due to speculation in the futures markets.<sup>[9]</sup>
<h4> Future price changes</h4>
In 2009, Seismic Micro-Technology conducted a survey of geophysicists and geologists about the future of crude oil. Of the survey participants 80 percent predicted the price for a barrel of oil will rise to be somewhere between $50 and $100 per barrel by June 2010.<sup>[10]</sup> Another 50 percent saying it will rise even further to $100 to $150 a barrel in the next five years.<sup>[10]</sup>

Oil prices could go to $200- $300 a barrel if the world’s top crude exporter Saudi Arabia is hit by serious political unrest, according to former Saudi oil minister Sheikh Yamani. Yamani has said that underlying discontent remained unresolved in Saudi Arabia. "If something happens in Saudi Arabia it will go to $200 to $300. I don’t expect this for the time being, but who would have expected Tunisia?" Yamani told Reuters on the sidelines of a conference of the Centre for Global Energy Studies (CGES) which he chaired on April 5th 2011.<sup>[11]</sup>
<h4>CFTC investigation</h4>
The U.S. Commodity Futures Trading Commission (CFTC) announced "Multiple Energy Market Initiatives" on May 29, 2008. Part 1 is "Expanded International Surveillance Information for Crude Oil Trading." The CFTC announcement stated it has joined with the United Kingdom Financial Services Authority and ICE Futures Europe in order to expand surveillance and information sharing of various futures contracts.<sup>[12]</sup> This announcement has received wide coverage in the financial press, with speculation about oil futures price manipulation.<sup>[13]</sup><sup>[14]</sup><sup>[15]</sup>

The interim report by the Interagency Task Force, released in July, found that speculation had not caused significant changes in oil prices and that fundamental supply and demand factors provide the best explanation for the crude oil price increases. The report found that the primary reason for the price increases was that the world economy had expanded at its fastest pace in decades, resulting in substantial increases in the demand for oil, while the oil production grew sluggishly, compounded by production shortfalls in oil-exporting countries.

The report stated that as a result of the imbalance and low price elasticity, very large price increases occurred as the market attempted to balance scarce supply against growing demand, particularly in the last three years. The report forecast that this imbalance would persist in the future, leading to continued upward pressure on oil prices, and that large or rapid movements in oil prices are likely to occur even in the absence of activity by speculators. The task force continues to analyze commodity markets and intends to issue further findings later in the year.
<h4>Future projections</h4>
<div>Main article: Oil depletion</div>
<div>Main article: Peak oil</div>
Peak oil is the period when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. It relates to a long term decline in the available supply of petroleum. This, combined with increasing demand, will significantly increase the worldwide prices of petroleum derived products. Most significant will be the availability and price of liquid fuel for transportation.

The US Department of Energy in the Hirsch report indicates that “The problems associated with world oil production peaking will not be temporary, and past “energy crisis” experience will provide relatively little guidance.”<sup>[16] …"</sup>

<a href="http://en.wikipedia.org/wiki/Price_of_petroleum">http://en.wikipedia.org/wiki/Price_of_petroleum</a>
<p style="text-align: left;"><strong>Gas prices soar on dollar devaluation even as consumption drops to 10-year lows </strong></p>
<strong>Written By Kenneth Schortgen Jr on Monday, February 13, 2012</strong>

"…One of the biggest misnomers in finance and economics today is that prices work according to supply and demand.  This was true when America performed in actual capitalist system, but since we moved to both fascism and crony capitalism, where corporations, banks, and government all work together at the betterment of themselves and not society, prices are fixed due to other factors such as dollar devaluation.
<div style="padding-left: 30px;"><strong><em>U.S. drivers used 2.8 percent less motor gasoline last year and consumed the smallest amount since 1999, the U.S. Department of Energy said Wednesday. Officials credited the decrease to more fuel-efficient cars and an aging population taking few trips.</em></strong></div>
<div style="padding-left: 30px;"><strong><em>Meanwhile, U.S. domestic oil production increased by more than 2 percent last year to 5.6 million barrels per day. – </em></strong><a href="http://www.desmoinesregister.com/article/20120209/BUSINESS/302090065/-1/TERMSOFSERVICE/Gas-consumption-lowest-since-1999"><strong><em>Des Moines Register</em></strong></a></div>
So… if consumption is way down, and production is actually up, should not gasoline prices be falling?  They should, except if you take into consideration the amount of money printing and currency devaluation being done by the Federal Reserve over the past four years, the amount of  inflation is being created by our own banking system, and not by a lack of products, or by higher demand.
In the end, Americans are being deceived by Fed Chairman Ben Bernanke. …"

<a href="http://www.thedailyeconomist.com/2012/02/gas-prices-soar-on-dollar-devaluation.html">http://www.thedailyeconomist.com/2012/02/gas-prices-soar-on-dollar-devaluation.html</a>
<h3 style="text-align: left;"></h3>
<h3 style="text-align: left;">Gasoline Prices Are Not Rising, the Dollar Is Falling</h3>
<strong><a href="http://blogs.forbes.com/louiswoodhill/">Louis Woodhill</a></strong>

"…Panic is in the air as gasoline prices move above $4.00 per gallon. Politicians and pundits are rounding up the usual suspects, looking for someone or something to blame for this latest outrage to middle class family budgets. In a rare display of bipartisanship, President Obama and Speaker of the House <a href="http://www.forbes.com/profile/john-boehner/">John Boehner</a> are both wringing their hands over the prospect of seeing their newly extended Social <a href="http://www.forbes.com/security/">Security</a> tax cut gobbled up by rising gasoline costs.

Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0.65 to $0.75 per gallon from where they are now just to be “normal”. And, because gasoline prices are low right now, it is very likely that they are going to go up more—perhaps a lot more.

What the politicians, analysts, and pundits are missing is that prices are ratios. Gasoline prices reflect crude oil prices, so let’s use West Texas Intermediate (WTI) crude oil to illustrate this crucial point.

As this is written, West Texas Intermediate crude oil (WTI) is trading at $105.88/bbl. All this means is that the market value of a barrel of WTI is 105.88 times the market value of “the dollar”. It is also true that WTI is trading at €79.95/bbl, ¥8,439.69/barrel, and £67.13/bbl. In all of these cases, the market value of WTI is the same. What is different in each case is the value of the monetary unit (euros, yen, and British pounds, respectively) being used to calculate the ratio that expresses the price.

In terms of judging whether the price of WTI is high or low, here is the price that truly matters: 0.0602 ounces of gold per barrel (which can be written as Au0.0602/bbl). What this number means is that, right now, a barrel of WTI has the same market value as 0.0602 ounces of gold.

During the 493 months since January 1, 1971, the price of WTI has averaged Au0.0732/bbl. It has been higher than that during 225 of those months and lower than that during 268 of those months. Plotted as a graph, the line representing the price of a barrel of oil in terms of gold has crossed the horizontal line representing the long-term average price (Au0.0732/bbl) 29 times.

At Au0.0602/bbl, today’s WTI price is only 82% of its average over the past 41+ years. Assuming that gold prices remained at today’s $1,759.30/oz, WTI prices would have to rise by about 22%, to $128.86/bbl, in order to reach their long-term average in terms of gold. As mentioned earlier, such an increase would drive up retail gasoline prices by somewhere between $0.65 and $0.75 per gallon.

At this point, we can be certain that, unless gold prices come down, gasoline prices are going to go up—by a lot. And, because the dollar is currently a floating, undefined, fiat currency, there is no inherent limit to how far the price of gold in dollars can rise, and therefore no ultimate ceiling on gasoline prices. …"

<a href="http://www.forbes.com/sites/louiswoodhill/2012/02/22/gasoline-prices-are-not-rising-the-dollar-is-falling/">http://www.forbes.com/sites/louiswoodhill/2012/02/22/gasoline-prices-are-not-rising-the-dollar-is-falling/</a>

<strong>Why Gas Prices Are Actually Falling   </strong>
<div><strong>By Gary Gibson</strong></div>
"…It’s not gold and silver prices that are volatile. Those have been incredibly consistent for thousands of years in terms of commodities they could buy. And because of the increasing standard of living being raised by free market economies, in a very real sense these eternal monies actually buy more. It’s the dollar that has been erratic in its overall declining trend ever since it’s been cut loose from gold (and silver).

Again, people looking at the cost of a gallon of gas, or of milk, or the cost of a nice suit, or rent from behind their piles of gold and silver are finding very little to worry about. In fact, to them, prices are lower than normal and declining.

Also the price of oil has tended to track the price of silver awfully closely for about as long as oil has been industrially useful. And so it’s no mistake that you can still get a gallon of gas for about about $0.20…as long as that $0.20 is composed of a pre-1964 90% silver dimes. …"

<a href="http://raymondpronk.files.wordpress.com/2012/02/silver_quarter.png"><img class="aligncenter size-full wp-image-55554" title="silver_quarter" src="http://raymondpronk.files.wordpress.com/2012/02/silver_quarter.png" alt="" width="544" height="195" /></a>

"…You see, the pre-1965 quarter is worth $6.38 as I type this. The pre-1965 dime is worth $2.55. These coins hail from a time when the dollar was still tied to gold (at the official price of $35 per ounce prior to Nixon nixing the gold standard). The dollar was still as good as gold — even though Americans themselves were forbidden to own gold bullion from 1933 till 1974 — and there was actual silver in the coinage until that content was reduced in 1964 and eliminated in 1965.

Those old silver coins shine the harsh light on the strength of the currency and the abuse that currency suffers from the feds and the Federal Reserve.

If you’d been saving in gold, then from your point of view gas prices have been coming down for the past few years. If you’d been saving in that old “junk” silver (pre-1965 quarters, dimes and half dollars), then gas prices are a downright bargain, too. …"

<a href="http://whiskeyandgunpowder.com/why-gas-prices-are-actually-falling/">http://whiskeyandgunpowder.com/why-gas-prices-are-actually-falling/</a>
<h4><strong>Consequences to Expect if the U.S. Invades Iran   </strong></h4>
<h4><strong>By Whiskey Contributor<small>Feb 22nd, 2012</small></strong></h4>
<h4><strong>Exploding Oil Prices</strong></h4>
The U.S. has had a ban on Iranian oil imports since 1979, however, Iran still supplies about 5% of the global oil market. This might not seem like much, but Iran also has the means and ability to shut down the Straight of Hormuz, which is one of two major petroleum choke points in the world. Around 17 million barrels of oil per day are shipped through the Straight of Hormuz, or about 20% of all oil traded worldwide.
<p align="center"><img src="http://www.ezimages.net/WHISKEY/022212_pic2.png" alt="" width="363" height="208" /></p>
"…In 2006, during the last major Iran war scare, experts predicted gasoline price increases in excess of <a href="http://money.cnn.com/2006/02/07/news/international/iran_oil/" target="_blank">$10 a gallon if Iran was invaded.</a>

This would devastate the U.S. economy, which is already hanging by a thin thread. Iran has announced this past weekend it will cease all oil shipments to Britain and France in protest of their support of economic sanctions. This alone is causing oil to spike today. A global energy crisis will financially decimate average citizens who will have their savings sapped by extreme price inflation, not just in gasoline, but in all goods that require the use of gasoline in their production and shipping. If you like this idea, then by all means, support an invasion of Iran.

<strong>War Domino Effect</strong>

In January of 2010, I wrote an article for Neithercorp Press entitled <a href="http://www.alt-market.com/neithercorp/press/2010/01/will-globalists-trigger-yet-another-world-war/" target="_blank">“Will Globalists Trigger Yet Another World War</a>“. In that article, I warned about the dangers of an invasion of Iran or Syria being used to foment a global conflict, in order to create a crisis large enough to distract the masses away from the international banker created economic collapse.

In 2006, Iran signed a mutual defense pact with its neighbor, Syria, which is also in the middle of its own turmoil and possible NATO intervention. Syria has strong ties to Russia, and even has a revamped Russian naval base off its coast, a fact rarely mentioned by the mainstream media. Both Russia and China have made their opposition clear in the case of any Western intervention in Iran or Syria. An invasion by the U.S. or Israel in these regions could quickly intensify into wider war between major world powers. If you like the idea of a world war which could eventually put you and your family in direct danger, then by all means, support an invasion of Iran.

<strong>Dollar Collapse</strong>

Make no mistake, the U.S. dollar is already on the verge of collapse, along with the U.S. economy. Bilateral trade agreements between BRIC and ASEAN nations are sprouting up everywhere the past couple months, and these agreements are specifically designed to end the dollar’s status as the world reserve currency. An invasion of Iran will only expedite this process. If global anger over the resulting chaos in oil prices doesn’t set off a dump of the dollar, the eventual debt obligation incurred through the overt costs of war will. Ron Paul has always been right; it doesn’t matter whether you think invasion is a good idea or not. We simply CANNOT afford it. America is bankrupt. Our only source of income is our ability to print money from thin air. Each dollar created to fund new wars brings our currency ever closer to its demise. …"

<a href="http://whiskeyandgunpowder.com/consequences-to-expect-if-the-u-s-invades-iran/">http://whiskeyandgunpowder.com/consequences-to-expect-if-the-u-s-invades-iran/</a>
<h1 style="text-align: center;">Background Articles and Videos</h1>
<h4 style="text-align: center;"></h4>
<h4 style="text-align: center;"></h4>
<h4 id="watch-headline-title" style="text-align: center;">Introduction to Futures</h4>
<p style="text-align: center;"></p>

<h4 id="watch-headline-title" style="text-align: center;">What is a Future?</h4>
<p style="text-align: center;"></p>

<h4 id="watch-headline-title" style="text-align: center;">Investopedia Video: How Do Futures Contracts Work?</h4>
<p style="text-align: center;"></p>

<h4 id="watch-headline-title" style="text-align: center;">Commodity futures margin accounts</h4>
<p style="text-align: center;"></p>

<div><strong> Security Futures—Know Your Risks, or Risk Your Future</strong></div>
<div>

<strong>"…Margin & Leverage</strong>

When a brokerage firm lends you part of the funds needed to purchase a security, such as common stock, the term "margin" refers to the amount of cash, or down payment, the customer is required to deposit. By contrast, a security futures contract is an obligation not an asset and has no value as collateral for a loan. When you enter into a security futures contract, you are required to make a payment referred to as a "margin payment" or "performance bond" to cover potential losses.

For a relatively small amount of money (the margin requirement), a futures contract worth several times as much can be bought or sold. The smaller the margin requirement in relation to the underlying value of the futures contract, the greater the leverage. Because of this leverage, small changes in price can result in large gains and losses in a short period of time.

<strong>Example:</strong> Assuming a security futures contract is for 100 shares of stock, if a security futures contract is established at a contract price of $50, the contract has a nominal value of $5,000 (see definition below). The margin requirement may be as low as 20 percent, which would require a margin deposit of $1,000. Assume the contract price rises from $50 to $52 (a $200 increase in the nominal value). This represents a $200 profit to the buyer of the futures contract, and a 20 percent return on the $1,000 deposited as margin.

The reverse would be true if the contract price decreased from $50 to $48. This represents a $200 loss to the buyer, or 20 percent of the $1,000 deposited as margin. Thus, leverage can either benefit or harm an investor.
Note that a 4 percent decrease in the value of the contract resulted in a loss of 20 percent of the margin deposited. A 20 percent decrease in the contract price ($50 to $40) would mean a drop in the nominal value of the contract from $5,000 to $4,000, thereby wiping out 100 percent of the margin deposited on the security futures contract. …"

</div>
<div><a href="http://www.finra.org/Investors/InvestmentChoices/P005912">http://www.finra.org/Investors/InvestmentChoices/P005912</a></div>
<div></div>
<div>
<h4>Futures Margins<a href="http://www.dpbolvw.net/click-2519541-10992963" target="_blank"> </a></h4>
<!– google_ad_section_start –>Participants in a futures contract are required to post performance bond margins in order to open and maintain a futures position.

Futures margin requirements are set by the exchanges and are typically only 2 to 10 percent of the full value of the futures contract.

Margins are financial guarantees required of both buyers and sellers of futures contracts to ensure that they fulfill their futures contract obligations.
<h4>Initial Margin</h4>
Before a futures position can be opened, there must be enough available balance in the futures trader’s margin account to meet the initial margin requirement. Upon opening the futures position, an amount equal to the initial margin requirement will be deducted from the trader’s margin account and transferred to the exchange’s clearing firm. This money is held by the exchange clearinghouse as long as the futures position remains open.
<h4>Maintenance Margin</h4>
The maintenance margin is the minimum amount a futures trader is required to maintain in his margin account in order to hold a futures position. The maintenance margin level is usually slightly below the initial margin.

If the balance in the futures trader’s margin account falls below the maintenance margin level, he or she will receive a margin call to top up his margin account so as to meet the initial margin requirement.
<h4>Example</h4>
Let’s assume we have a speculator who has $10000 in his trading account. He decides to buy August Crude Oil at $40 per barrel. Each Crude Oil futures contract represents 1000 barrels and requires an initial margin of $9000 and has a maintenance margin level set at $6500.

Since his account is $10000, which is more than the initial margin requirement, he can therefore open up one August Crude Oil futures position.

One day later, the price of August Crude Oil drops to $38 a barrel. Our speculator has suffered an open position loss of $2000 ($2 x 1000 barrels) and thus his account balance drops to $8000.

Although his balance is now lower than the initial margin requirement, he did not get the margin call as it is still above the maintenance level of $6500.

Unfortunately, on the very next day, the price of August Crude Oil crashed further to $35, leading to an additional $3000 loss on his open Crude Oil position. With only $5000 left in his trading account, which is below the maintenance level of $6500, he received a call from his broker asking him to top up his trading account back to the initial level of $9000 in order to maintain his open Crude Oil position.

This means that if the speculator wishes to stay in the position, he will need to deposit an additional $4000 into his trading account.

Otherwise, if he decides to quit the position, the remaining $5000 in his account will be available to use for trading once again. …"
<a href="http://www.theoptionsguide.com/futures-margin.aspx">http://www.theoptionsguide.com/futures-margin.aspx</a>

</div>
<div></div>
<div></div>
<div><strong>Federal Regulation of Margin in the Commodities Futures Industry: History and Theory</strong></div>
<div>
<div>
<div>
<h4><a href="http://www.nationalaglawcenter.org/assets/bibarticles/markham_margin.pdf">http://www.nationalaglawcenter.org/assets/bibarticles/markham_margin.pdf</a></h4>
<h4></h4>
<h4></h4>
<h4>How does oil speculation raise gas prices?</h4>
<h4>by Josh Clark</h4>
</div>
</div>
</div>
<div align="left">

"…The next time you drive to the gas station, only to find prices are still sky high compared to just a few years ago, take notice of the rows of <a href="http://money.howstuffworks.com/personal-finance/debt-management/foreclosure.htm">foreclosed</a> houses you’ll pass along the way. They may seem like two parts of a spell of economic bad luck, but high gas prices and home foreclosures are actually very much interrelated. Before most people were even aware there was an <a href="http://money.howstuffworks.com/government-bailout.htm">economic crisis</a>, investment managers abandoned failing <a href="http://money.howstuffworks.com/mortgage-backed-security.htm">mortgage-backed securities</a> and looked for other lucrative investments. What they settled on was oil futures.

An <strong>oil future</strong> is simply a contract between a buyer and seller, where the buyer agrees to purchase a certain amount of a commodity — in this case <a href="http://science.howstuffworks.com/environmental/energy/oil-refining.htm">oil</a>– at a fixed price

1

. Futures offer a way for a purchaser to bet on whether a commodity will increase in price down the road. Once locked into a contract, a futures buyer would receive a barrel of oil for the price dictated in the future contract, even if the market price was higher when the barrel was actually delivered. …”

“…What speculators do is bet on what price a commodity will reach by a future date, through instruments called derivatives. Unlike an investment in an actual commodity (such as a barrel of oil), a derivative’s value is based on the value of a commodity (for example, a bet on whether a barrel of oil will increase or decrease in price). Speculators have no hand in the sale of the commodity they’re betting on; they’re not the buyer or the seller.

By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It’s simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. As energy researcher F. William Engdahl put it, “[s]peculators trade on rumor, not fact”

. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they’ll be able to sell it later on at the future price. This drives prices up in reality — both future and present prices — due to the decreased amount of oil currently available on the market.

Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone

.

As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40

. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it. …”

http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

Weekly Petroleum Status Report

Highlights

“…U.S. crude oil refinery inputs averaged just under 14.9 million barrels per

day during the week ending February 17, 170 thousand barrels per day

above the previous week’s average. Refineries operated at 85.5 percent

of their operable capacity last week. Gasoline production increased

last week, averaging nearly 9.0 million barrels per day. Distillate fuel

production decreased last week, averaging just under 4.3 million barrels

per day.

U.S. crude oil imports averaged nearly 9.1 million barrels per day last

week, up by 335 thousand barrels per day from the previous week. Over

the last four weeks, crude oil imports have averaged about 8.8 million

barrels per day, 211 thousand barrels per day above the same four-week

period last year. Total motor gasoline imports (including both finished

gasoline and gasoline blending components) last week averaged 845

thousand barrels per day. Distillate fuel imports averaged 122 thousand

barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic

Petroleum Reserve) increased by 1.6 million barrels from the previous

week. At 340.7 million barrels, U.S. crude oil inventories are in the

upper limit of the average range for this time of year. Total motor

gasoline inventories decreased by 0.6 million barrels last week and are

in the upper limit of the average range. Finished gasoline inventories

decreased while blending components inventories increased last week.

Distillate fuel inventories decreased by 0.2 million barrels last week and

are in the middle of the average range for this time of year. Propane/

propylene inventories decreased by 1.6 million barrels last week and are

above the upper limit of the average range. Total commercial petroleum

inventories increased by 3.3 million barrels last week.

Total products supplied over the last four-week period have averaged

about 18.1 million barrels per day, down by 6.7 percent compared to

the similar period last year. Over the last four weeks, motor gasoline

product supplied has averaged 8.2 million barrels per day, down by 6.1

percent from the same period last year. Distillate fuel product supplied

has averaged about 3.6 million barrels per day over the last four weeks,

down by 5.9 percent from the same period last year. Jet fuel product

supplied is 9.1 percent lower over the last four weeks compared to the

same four-week period last year.

WTI was $103.27 per barrel on February 17, 2012, $4.59 more than

last week’s price and $18.24 above a year ago. The spot price for

conventional gasoline in the New York Harbor was $3.023 per gallon,

$0.022 more than last week’s price and $0.483 above last year. The

spot price for No. 2 heating oil in the New York Harbor was $3.185 per

gallon, $0.002 less than last week’s price but $0.474 above a year ago.

The national average retail regular gasoline price increased for the fourth

week in a row to $3.591 per gallon on February 20, 2012, $0.068 per

gallon more than last week and $0.402 above a year ago. The national

average retail diesel fuel price also increased for the fourth straight week

in a row to $3.960 per gallon, $0.017 per gallon more than last week and

$0.387 above a year ago. …”

http://www.eia.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/pdf/highlights.pdf

Inflation:  Calculating the rate of inflation

Historical CPI-U data from 1913 to the present

“…For just current CPI data, see CPI page. The following table provides all the Consumer Price Index data CPI-U from 1913 to the Present.

The Consumer Price Index (CPI-U)  is compiled by the Bureau of Labor Statistics and is based upon a 1982 Base of 100. A Consumer Price Index of 158 indicates 58% inflation since 1982. The commonly quoted inflation rate of say 3% is actually the change in the Consumer Price Index from a year earlier. By looking at the change in the Consumer Price Index we can see that what cost an average of 9.9 cents in 1913 would cost us about $1.82 in 2003 and $2.02 in 2007.

To find Prior Consumer Price Index (CPI) data on this table (back through 1913) click on the date range links below the table.

For Inflation data rather than Consumer Price Index data go to the Historical Inflation page. If you would like to calculate the inflation rate between two dates using the Consumer Price Index data from this chart, use our handy easy to use Inflation calculator or you might prefer to use our Cost of Living Calculator to compare the costs in two cities. You can find links to Inflation and Consumer Price Index data for other countries HERE. A chart of Inflation by decade, Annual Inflation and Confederate Inflation is also available. Menu navigation is available on the menu bar on the left of every page. We have a complete listing of all of our Articles on inflation, including Inflation Definitions, Which is better High or Low Inflation, and How to Calculate Inflation.

You might also be interested in the wide variety of articles on our sister site Financial Trend Forecaster a complete list of the articles on Financial Trend Forecaster is at the FTF Article Archives.

Note Effective January 2007 the BLS began publishing the CPI index to three decimal places (prior to that it was only one decimal place).  But InflationData.com is still the only place to get the Inflation Rate calculated to two decimal places.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2012 226.665
2011 220.223 221.309 223.467 224.906 225.964 225.722 225.922 226.545 226.889 226.421 226.230 225.672 224.939
2010 216.687 216.741 217.631 218.009 218.178 217.965 218.011 218.312 218.439 218.711 218.803 219.179 218.056
2009 211.143 212.193 212.709 213.240 213.856 215.693 215.351 215.834 215.969 216.177 216.330 215.949 214.537
2008 211.080 211.693 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 215.303
2007 202.416 203.499 205.352 206.686 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 207.342
2006 198.300 198.700 199.800 201.500 202.500 202.900 203.500 203.900 202.900 201.800 201.500 201.800 201.600
2005 190.700 191.800 193.300 194.600 194.400 194.500 195.400 196.400 198.800 199.200 197.600 196.800 195.300
2004 185.200 186.200 187.400 188.000 189.100 189.700 189.400 189.500 189.900 190.900 191.000 190.300 188.900
2003 181.700 183.100 184.200 183.800 183.500 183.700 183.900 184.600 185.200 185.000 184.500 184.300 183.960
2002 177.100 177.800 178.800 179.800 179.800 179.900 180.100 180.700 181.000 181.300 181.300 180.900 179.880
2001 175.100 175.800 176.200 176.900 177.700 178.000 177.500 177.500 178.300 177.700 177.400 176.700 177.100
2000 168.800 169.800 171.200 171.300 171.500 172.400 172.800 172.800 173.700 174.000 174.100 174.000 172.200
1999 164.300 164.500 165.000 166.200 166.200 166.200 166.700 167.100 167.900 168.200 168.300 168.300 166.600
1998 161.600 161.900 162.200 162.500 162.800 163.000 163.200 163.400 163.600 164.000 164.000 163.900 163.000
1997 159.100 159.600 160.000 160.200 160.100 160.300 160.500 160.800 161.200 161.600 161.500 161.300 160.500
1996 154.400 154.900 155.700 156.300 156.600 156.700 157.000 157.300 157.800 158.300 158.600 158.600 156.900
1995 150.300 150.900 151.400 151.900 152.200 152.500 152.500 152.900 153.200 153.700 153.600 153.500 152.400
1994 146.200 146.700 147.200 147.400 147.500 148.000 148.400 149.000 149.400 149.500 149.700 149.700 148.200
1993 142.600 143.100 143.600 144.000 144.200 144.400 144.400 144.800 145.100 145.700 145.800 145.800 144.500
1992 138.100 138.600 139.300 139.500 139.700 140.200 140.500 140.900 141.300 141.800 142.000 141.900 140.300
1991 134.600 134.800 135.000 135.200 135.600 136.000 136.200 136.600 137.200 137.400 137.800 137.900 136.200
1990 127.400 128.000 128.700 128.900 129.200 129.900 130.400 131.600 132.700 133.500 133.800 133.800 130.700
1989 121.100 121.600 122.300 123.100 123.800 124.100 124.400 124.600 125.000 125.600 125.900 126.100 124.000
1988 115.700 116.000 116.500 117.100 117.500 118.000 118.500 119.000 119.800 120.200 120.300 120.500 118.300
1987 111.200 111.600 112.100 112.700 113.100 113.500 113.800 114.400 115.000 115.300 115.400 115.400 113.600
1986 109.600 109.300 108.800 108.600 108.900 109.500 109.500 109.700 110.200 110.300 110.400 110.500 109.600
1985 105.500 106.000 106.400 106.900 107.300 107.600 107.800 108.000 108.300 108.700 109.000 109.300 107.600
1984 101.900 102.400 102.600 103.100 103.400 103.700 104.100 104.500 105.000 105.300 105.300 105.300 103.900
1983 97.800 97.900 97.900 98.600 99.200 99.500 99.900 100.200 100.700 101.000 101.200 101.300 99.600
1982 94.300 94.600 94.500 94.900 95.800 97.000 97.500 97.700 97.900 98.200 98.000 97.600 96.500
1981 87.000 87.900 88.500 89.100 89.800 90.600 91.600 92.300 93.200 93.400 93.700 94.000 90.900
1980 77.800 78.900 80.100 81.000 81.800 82.700 82.700 83.300 84.000 84.800 85.500 86.300 82.400
1979 68.300 69.100 69.800 70.600 71.500 72.300 73.100 73.800 74.600 75.200 75.900 76.700 72.600
1978 62.500 62.900 63.400 63.900 64.500 65.200 65.700 66.000 66.500 67.100 67.400 67.700 65.200
1977 58.500 59.100 59.500 60.000 60.300 60.700 61.000 61.200 61.400 61.600 61.900 62.100 60.600
1976 55.600 55.800 55.900 56.100 56.500 56.800 57.100 57.400 57.600 57.900 58.000 58.200 56.900
1975 52.100 52.500 52.700 52.900 53.200 53.600 54.200 54.300 54.600 54.900 55.300 55.500 53.800
1974 46.600 47.200 47.800 48.000 48.600 49.000 49.400 50.000 50.600 51.100 51.500 51.900 49.300
1973 42.600 42.900 43.300 43.600 43.900 44.200 44.300 45.100 45.200 45.600 45.900 46.200 44.400
1972 41.100 41.300 41.400 41.500 41.600 41.700 41.900 42.000 42.100 42.300 42.400 42.500 41.800
1971 39.800 39.900 40.000 40.100 40.300 40.600 40.700 40.800 40.800 40.900 40.900 41.100 40.500
1970 37.800 38.000 38.200 38.500 38.600 38.800 39.000 39.000 39.200 39.400 39.600 39.800 38.800
1969 35.600 35.800 36.100 36.300 36.400 36.600 36.800 37.000 37.100 37.300 37.500 37.700 36.700
1968 34.100 34.200 34.300 34.400 34.500 34.700 34.900 35.000 35.100 35.300 35.400 35.500 34.800
1967 32.900 32.900 33.000 33.100 33.200 33.300 33.400 33.500 33.600 33.700 33.800 33.900 33.400
1966 31.800 32.000 32.100 32.300 32.300 32.400 32.500 32.700 32.700 32.900 32.900 32.900 32.400
1965 31.200 31.200 31.300 31.400 31.400 31.600 31.600 31.600 31.600 31.700 31.700 31.800 31.500
1964 30.900 30.900 30.900 30.900 30.900 31.000 31.100 31.000 31.100 31.100 31.200 31.200 31.000
1963 30.400 30.400 30.500 30.500 30.500 30.600 30.700 30.700 30.700 30.800 30.800 30.900 30.600
1962 30.000 30.100 30.100 30.200 30.200 30.200 30.300 30.300 30.400 30.400 30.400 30.400 30.200
1961 29.800 29.800 29.800 29.800 29.800 29.800 30.000 29.900 30.000 30.000 30.000 30.000 29.900
1960 29.300 29.400 29.400 29.500 29.500 29.600 29.600 29.600 29.600 29.800 29.800 29.800 29.600
1959 29.000 28.900 28.900 29.000 29.000 29.100 29.200 29.200 29.300 29.400 29.400 29.400 29.100
1958 28.600 28.600 28.800 28.900 28.900 28.900 29.000 28.900 28.900 28.900 29.000 28.900 28.900
1957 27.600 27.700 27.800 27.900 28.000 28.100 28.300 28.300 28.300 28.300 28.400 28.400 28.100
1956 26.800 26.800 26.800 26.900 27.000 27.200 27.400 27.300 27.400 27.500 27.500 27.600 27.200
1955 26.700 26.700 26.700 26.700 26.700 26.700 26.800 26.800 26.900 26.900 26.900 26.800 26.800
1954 26.900 26.900 26.900 26.800 26.900 26.900 26.900 26.900 26.800 26.800 26.800 26.700 26.900
1953 26.600 26.500 26.600 26.600 26.700 26.800 26.800 26.900 26.900 27.000 26.900 26.900 26.700
1952 26.500 26.300 26.300 26.400 26.400 26.500 26.700 26.700 26.700 26.700 26.700 26.700 26.500
1951 25.400 25.700 25.800 25.800 25.900 25.900 25.900 25.900 26.100 26.200 26.400 26.500 26.000
1950 23.500 23.500 23.600 23.600 23.700 23.800 24.100 24.300 24.400 24.600 24.700 25.000 24.100
1949 24.000 23.800 23.800 23.900 23.800 23.900 23.700 23.800 23.900 23.700 23.800 23.600 23.800
1948 23.700 23.500 23.400 23.800 23.900 24.100 24.400 24.500 24.500 24.400 24.200 24.100 24.100
1947 21.500 21.500 21.900 21.900 21.900 22.000 22.200 22.500 23.000 23.000 23.100 23.400 22.300
1946 18.200 18.100 18.300 18.400 18.500 18.700 19.800 20.200 20.400 20.800 21.300 21.500 19.500
1945 17.800 17.800 17.800 17.800 17.900 18.100 18.100 18.100 18.100 18.100 18.100 18.200 18.000
1944 17.400 17.400 17.400 17.500 17.500 17.600 17.700 17.700 17.700 17.700 17.700 17.800 17.600
1943 16.900 16.900 17.200 17.400 17.500 17.500 17.400 17.300 17.400 17.400 17.400 17.400 17.300
1942 15.700 15.800 16.000 16.100 16.300 16.300 16.400 16.500 16.500 16.700 16.800 16.900 16.300
1941 14.100 14.100 14.200 14.300 14.400 14.700 14.700 14.900 15.100 15.300 15.400 15.500 14.700
1940 13.900 14.000 14.000 14.000 14.000 14.100 14.000 14.000 14.000 14.000 14.000 14.100 14.000
1939 14.000 13.900 13.900 13.800 13.800 13.800 13.800 13.800 14.100 14.000 14.000 14.000 13.900
1938 14.200 14.100 14.100 14.200 14.100 14.100 14.100 14.100 14.100 14.000 14.000 14.000 14.100
1937 14.100 14.100 14.200 14.300 14.400 14.400 14.500 14.500 14.600 14.600 14.500 14.400 14.400
1936 13.800 13.800 13.700 13.700 13.700 13.800 13.900 14.000 14.000 14.000 14.000 14.000 13.900
1935 13.600 13.700 13.700 13.800 13.800 13.700 13.700 13.700 13.700 13.700 13.800 13.800 13.700
1934 13.200 13.300 13.300 13.300 13.300 13.400 13.400 13.400 13.600 13.500 13.500 13.400 13.400
1933 12.900 12.700 12.600 12.600 12.600 12.700 13.100 13.200 13.200 13.200 13.200 13.200 13.000
1932 14.300 14.100 14.000 13.900 13.700 13.600 13.600 13.500 13.400 13.300 13.200 13.100 13.700
1931 15.900 15.700 15.600 15.500 15.300 15.100 15.100 15.100 15.000 14.900 14.700 14.600 15.200
1930 17.100 17.000 16.900 17.000 16.900 16.800 16.600 16.500 16.600 16.500 16.400 16.100 16.700
1929 17.100 17.100 17.000 16.900 17.000 17.100 17.300 17.300 17.300 17.300 17.300 17.200 17.100
1928 17.300 17.100 17.100 17.100 17.200 17.100 17.100 17.100 17.300 17.200 17.200 17.100 17.100
1927 17.500 17.400 17.300 17.300 17.400 17.600 17.300 17.200 17.300 17.400 17.300 17.300 17.400
1926 17.900 17.900 17.800 17.900 17.800 17.700 17.500 17.400 17.500 17.600 17.700 17.700 17.700
1925 17.300 17.200 17.300 17.200 17.300 17.500 17.700 17.700 17.700 17.700 18.000 17.900 17.500
1924 17.300 17.200 17.100 17.000 17.000 17.000 17.100 17.000 17.100 17.200 17.200 17.300 17.100
1923 16.800 16.800 16.800 16.900 16.900 17.000 17.200 17.100 17.200 17.300 17.300 17.300 17.100
1922 16.900 16.900 16.700 16.700 16.700 16.700 16.800 16.600 16.600 16.700 16.800 16.900 16.800
1921 19.000 18.400 18.300 18.100 17.700 17.600 17.700 17.700 17.500 17.500 17.400 17.300 17.900
1920 19.300 19.500 19.700 20.300 20.600 20.900 20.800 20.300 20.000 19.900 19.800 19.400 20.000
1919 16.500 16.200 16.400 16.700 16.900 16.900 17.400 17.700 17.800 18.100 18.500 18.900 17.300
1918 14.000 14.100 14.000 14.200 14.500 14.700 15.100 15.400 15.700 16.000 16.300 16.500 15.100
1917 11.700 12.000 12.000 12.600 12.800 13.000 12.800 13.000 13.300 13.500 13.500 13.700 12.800
1916 10.400 10.400 10.500 10.600 10.700 10.800 10.800 10.900 11.100 11.300 11.500 11.600 10.900
1915 10.100 10.000 9.900 10.000 10.100 10.100 10.100 10.100 10.100 10.200 10.300 10.300 10.100
1914 10.000 9.900 9.900 9.800 9.900 9.900 10.000 10.200 10.200 10.100 10.200 10.100 10.000
1913 9.800 9.800 9.800 9.800 9.700 9.800 9.900 9.900 10.000 10.000 10.100 10.000 9.900

To calculate inflation from a month and year to a later month and year, try our Inflation calculator

http://inflationdata.com/Inflation/Consumer_Price_Index/HistoricalCPI.aspx

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Imperialism: Enemy of Freedom–Ludwig von Mises Institute–Videos

Posted on January 29, 2012. Filed under: Agriculture, American History, Banking, Blogroll, Books, Business, College, Communications, Culture, Demographics, Diasters, Economics, Education, Employment, Energy, Farming, Federal Government, Federal Government Budget, Films, Fiscal Policy, Foreign Policy, government spending, Health Care, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Public Sector, Rants, Raves, Security, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

How Empires Bamboozle the Bourgeoisie | Llewellyn H. Rockwell, Jr. 

The Classical Liberal Theory of Empire | Ralph Raico

The Case for Free Trade, Not Imperialism | Walter Block 

What Empire Does to a Culture | Roderick T. Long

The Firm vs. Nationalism | Peter G. Klein

Financing the Empire | Mark Thornton

Taxation, Inflation, and War | Joseph T. Salerno

The Anti-Imperialist League and the Battle Against Empire | Thomas E. Woods, Jr. 

The Confused Literature on Globalization | David Gordon

Small States, Global Economy | Jeffrey M. Herbener

The New Global Marketplace | Sudha Shenoy

Mises in 1919 | Jörg Guido Hülsmann 

The International Language of the Austrian School | Jeffrey A. Tucker

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Ron Paul’s Speech After New Hampshire Primary–Liberty and The Power of Ideas–Bring Them Home–Video

Posted on January 11, 2012. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Federal Government, Federal Government Budget, Fiscal Policy, government spending, history, Inflation, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Raves, Tax Policy, Taxes, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , |

Watch Ron Paul’s Speech After New Hampshire Primary

Armed Chinese Troops in Texas! 

Thanksgiving Family Forum – Ron Paul Highlights 

.

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James Perloff –The Shadows of Power: The Council on Foreign Relations and the American Decline–Videos

Posted on December 22, 2011. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Raves, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , |

The Shadows of Power: The Council on Foreign Relations and the American Decline

James Perloff exposes the subversive roots and global designs of the Council on Foreign Relations (CFR). Passed off as a think-tank this group is the “power behind the throne” with hundreds of top-appointed government officials drawn from its ranks – regardless of which party has occupied the White House. It began in 1921 as a front organization for J.P. Morgan and Company and by World War II it had acquired unrivaled influence on American foreign policy. In this presentation Mr. Perloff traces the CFR’s activity from the Wilson to Reagan administrations.

CFR

http://www.cfr.org/

Council on Foreign Relations (CFR)

“…The Council on Foreign Relations (CFR) is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs. Founded in 1921 and headquartered at 58 East 68th Street in New York City, with an additional office in Washington, D.C., the CFR is considered to be the nation’s ‘most influential foreign-policy think tank.’ [1] It publishes a bi-monthly journal Foreign Affairs.

Mission

As stated on its website, the CFR’s mission is to be “a resource for its members, government officials, business executives, journalists, educators and students, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing the United States and other countries.”

The CFR aims to maintain a diverse membership, including special programs to promote interest and develop expertise in the next generation of foreign policy leaders. It convenes meetings at which government officials, global leaders and prominent members of the foreign policy community discuss major international issues. Its think tank, the David Rockefeller Studies Program, is composed of about fifty adjunct and full-time scholars, as well as ten in-resident recipients of year-long fellowships, who cover the major regions and significant issues shaping today’s international agenda. These scholars contribute to the foreign policy debate by making recommendations to the presidential administration, testifying before Congress, serving as a resource to the diplomatic community, interacting with the media, authoring books, reports, articles, and op-eds on foreign policy issues.

The council publishes Foreign Affairs, “the preeminent journal of international affairs and U.S. foreign policy.” It also publishes Independent Task Forces which bring together experts with diverse backgrounds and expertise to work together to produce reports offering both findings and policy prescriptions on important foreign policy topics. To date, the CFR has sponsored more than fifty reports.[2]

The CFR aims to provide up-to-date information and analysis about world events and U.S. foreign policy. In 2008, CFR.org’s “Crisis Guide: Darfur” was awarded an Emmy Award by the Television Academy of Arts and Sciences, in the category of “New Approaches to News & Documentary Programming: Current News Coverage.” In 2009, the Crisis Guide franchise won another Emmy for its “Crisis Guide: The Global Economy,” in the category of business and financial reporting.

Early history

The earliest origin of the Council stemmed from a working fellowship of about 150 scholars, called “The Inquiry”, tasked to brief President Woodrow Wilson about options for the postwar world when Germany was defeated. Through 1917–1918, this academic band, including Wilson’s closest adviser and long-time friend “Colonel” Edward M. House, as well as Walter Lippmann, gathered at 155th Street and Broadway at the Harold Pratt House in New York City, to assemble the strategy for the postwar world. The team produced more than 2,000 documents detailing and analyzing the political, economic, and social facts globally that would be helpful for Wilson in the peace talks. Their reports formed the basis for the Fourteen Points, which outlined Wilson’s strategy for peace after war’s end.[3]

These scholars then traveled to the Paris Peace Conference, 1919 that would end the war; it was at one of the meetings of a small group of British and American diplomats and scholars, on May 30, 1919, at the Hotel Majestic, that both the Council and its British counterpart, the Chatham House in London, were born.[4]

Some of the participants at that meeting, apart from Edward House, were Paul Warburg, Herbert Hoover, Harold Temperley, Lionel Curtis, Lord Eustace Percy, Christian Herter, and American academic historians James Thomson Shotwell of Columbia University, Archibald Cary Coolidge of Harvard, and Charles Seymour of Yale.[citation needed]

In 1938 they created various Committees on Foreign Relations throughout the country. These later became governed by the American Committees on Foreign Relations in Washington, D.C.[citation needed]

Network diagram showing interlocks between various U.S. corporations and institutions and the Council on Foreign Relations, in 2004

The Council on Foreign Relations, a sister organization to the Royal Institute of International Affairs in London (now known as Chatham House), was formed in 1922 as a noncommercial, nonpolitical organization supporting American foreign relations.[5] From its inception the Council was bipartisan, welcoming members of both Democratic and Republican parties. It also welcomed Jews and African Americans, although women were initially barred from membership. Its proceedings were almost universally private and confidential.[6] A critical study found that of 502 government officials surveyed from 1945 to 1972, more than half were members of the Council.[7]

Today it has about 5,000 members (including five-year term members[8] between the ages of 30-41), which over its history have included senior serving politicians, more than a dozen Secretaries of State, former national security officers, bankers, lawyers, professors, former CIA members and senior media figures.[citation needed]

In 1962, the group began a program of bringing select Air Force officers to the Harold Pratt House to study alongside its scholars. The Army, Navy and Marine Corps requested they start similar programs for their own officers.[7]

Vietnam created a rift within the organization. When Hamilton Fish Armstrong announced in 1970 that he would be leaving the helm of Foreign Affairs after 45 years, new chairman David Rockefeller approached a family friend, William Bundy, to take over the position. Anti-war advocates within the Council rose in protest against this appointment, claiming that Bundy’s hawkish record in the State and Defense Departments and the CIA precluded him from taking over an independent journal. Some considered Bundy a war criminal for his prior actions.[7]

Seven American presidents have addressed the Council, two while still in office – Bill Clinton and George W. Bush.[9]

The Council says that it has never sought to serve as a receptacle for government policy papers that cannot be shared with the public and does not encourage its members serving in government to do so. The Council says that discussions at its headquarters remain confidential, not because they share or discuss secret information, but because the system allows members to test new ideas with other members.[10]

Arthur M. Schlesinger, Jr., in his book on the Kennedy presidency, A Thousand Days, wrote that Kennedy was not part of what he called the “New York establishment”:

“In particular, he was little acquainted with the New York financial and legal community– that arsenal of talent which had so long furnished a steady supply of always orthodox and often able people to Democratic as well as Republican administrations. This community was the heart of the American Establishment. Its household deities were Henry Stimson and Elihu Root; its present leaders, Robert Lovett and John J. McCloy; its front organizations, the Rockefeller, Ford and Carnegie foundations and the Council on Foreign Relations; its organs, the New York Times and Foreign Affairs.”[11]

Website

It has an extensive website, http://www.cfr.org, featuring links to its history, fellows’ biographical information, think tank, the David Rockefeller Studies Program, Independent Task Force reports[12] and other reports, CFR books, expert interviews, meeting transcripts, audio, and videos, Emmy award-winning multimedia Crisis Guides and timelines, Foreign Affairs, and many other publications, biographies of notable directors and other board members, corporate members, and press releases.[2]

Influence on foreign policy

Beginning in 1939 and lasting for five years, the Council achieved much greater prominence within the government and the State Department when it established the strictly confidential War and Peace Studies, funded entirely by the Rockefeller Foundation.[13] The secrecy surrounding this group was such that the Council members who were not involved in its deliberations were completely unaware of the study group’s existence.[13]

It was divided into four functional topic groups: economic and financial, security and armaments, territorial, and political. The security and armaments group was headed by Allen Welsh Dulles who later became a pivotal figure in the CIA’s predecessor, the OSS. It ultimately produced 682 memoranda for the State Department, marked classified and circulated among the appropriate government departments. As a historical judgment, its overall influence on actual government planning at the time is still said to remain unclear.[13]

In an anonymous piece called “The Sources of Soviet Conduct” that appeared in Foreign Affairs in 1947, CFR study group member George Kennan coined the term “containment.” The essay would prove to be highly influential in US foreign policy for seven upcoming presidential administrations. 40 years later, Kennan explained that he had never suspected the Russians of any desire to launch an attack on America; he thought that was obvious enough he didn’t need to explain it in his essay. William Bundy credited the CFR’s study groups with helping to lay the framework of thinking that led to the Marshall Plan and NATO. Due to new interest in the group, membership grew towards 1,000.[14]

Dwight D. Eisenhower chaired a CFR study group while he served as President of Columbia University. One member later said, “whatever General Eisenhower knows about economics, he has learned at the study group meetings.”[14] The CFR study group devised an expanded study group called “Americans for Eisenhower” to increase his chances for the presidency. Eisenhower would later draw many Cabinet members from CFR ranks and become a CFR member himself. His primary CFR appointment was Secretary of State John Foster Dulles. Dulles gave a public address at the Harold Pratt House in which he announced a new direction for Eisenhower’s foreign policy: “There is no local defense which alone will contain the mighty land power of the communist world. Local defenses must be reinforced by the further deterrent of massive retaliatory power.” After this speech, the council convened a session on “Nuclear Weapons and Foreign Policy” and chose Henry Kissinger to head it. Kissinger spent the following academic year working on the project at Council headquarters. The book of the same name that he published from his research in 1957 gave him national recognition, topping the national bestseller lists.[14]

On 24 November 1953, a study group heard a report from political scientist William Henderson regarding the ongoing conflict between France and Vietnamese Communist leader Ho Chi Minh’s Viet Minh forces, a struggle that would later become known as the First Indochina War. Henderson argued that Ho’s cause was primarily nationalist in nature and that Marxism had “little to do with the current revolution.” Further, the report said, the United States could work with Ho to guide his movement away from Communism. State Department officials, however, expressed skepticism about direct American intervention in Vietnam and the idea was tabled. Over the next twenty years, the United States would find itself allied with anti-Communist South Vietnam and against Ho and his supporters in the Vietnam War.[14]

The Council served as a “breeding ground” for important American policies such as mutual deterrence, arms control, and nuclear non-proliferation.[14]

A four-year long study of relations between America and China was conducted by the Council between 1964 and 1968. One study published in 1966 concluded that American citizens were more open to talks with China than their elected leaders. Kissinger had continued to publish in Foreign Affairs and was appointed by President Nixon to serve as National Security Adviser in 1969. In 1971, he embarked on a secret trip to Beijing to broach talks with Chinese leaders. Nixon went to China in 1972, and diplomatic relations were completely normalized by President Carter’s Secretary of State, another Council member, Cyrus Vance.[14]

In November 1979, while chairman of the CFR, David Rockefeller became embroiled in an international incident when he and Henry Kissinger, along with John J. McCloy and Rockefeller aides, persuaded President Jimmy Carter through the State Department to admit the Shah of Iran, Mohammad Reza Pahlavi, into the US for hospital treatment for lymphoma. This action directly precipitated what is known as the Iran hostage crisis and placed Rockefeller under intense media scrutiny (particularly from The New York Times) for the first time in his public life.[15][16]

Current policy initiatives

The CFR started a program in 2008 to last for 5 years and funded by a grant from the Robina Foundation called “International Institutions and Global Governance” which aims to identify the institutional requirements for effective multilateral cooperation in the 21st century.[17]

The CFR’s Maurice C. Greenberg Center for Geoeconomic Studies, directed by scholar and author Sebastian Mallaby works to promote a better understanding among policymakers, academic specialists, and the interested public of how economic and political forces interact to influence world affairs.[18]

The CFR’s Center for Preventive Action (CPA) seeks to help prevent, defuse, or resolve deadly conflicts around the world and to expand the body of knowledge on conflict prevention. It does so by creating a forum in which representatives of governments, international organizations, nongovernmental organizations, corporations, and civil society can gather to develop operational and timely strategies for promoting peace in specific conflict situations.

 Membership

Main article: Members of the Council on Foreign Relations

There are two types of membership: life, and term membership, which lasts for 5 years and is available to those between 30 and 36. Only U.S. citizens (native born or naturalized) and permanent residents who have applied for U.S. citizenship are eligible. A candidate for life membership must be nominated in writing by one Council member and seconded by a minimum of three others.[19]

Corporate membership (250 in total) is divided into “Basic”, “Premium” ($25,000+) and “President’s Circle” ($50,000+). All corporate executive members have opportunities to hear distinguished speakers, such as overseas presidents and prime ministers, chairmen and CEOs of multinational corporations, and U.S. officials and Congressmen. President and premium members are also entitled to other benefits, including attendance at small, private dinners or receptions with senior American officials and world leaders.[20]

Controversy

The Council has been the subject of debate, as shown in the 1969 film The Capitalist Conspiracy by G. Edward Griffin, the 2006 film by Aaron Russo, America: Freedom to Fascism and a 2007 documentary Zeitgeist: The Movie, as well as the book The Naked Capitalist which reviewed Carroll Quigley’s book Tragedy and Hope from a less supportive standpoint.

This is partly due to the number of high-ranking government officials (along with world business leaders and prominent media figures) in its membership, its secrecy clauses, and the large number of aspects of American foreign policy that its members have been involved with, beginning with Wilson’s Fourteen Points. Wilson’s Fourteen Points speech was the first in which he suggested a worldwide security organization to prevent future world wars.[3]

The John Birch Society believes that the CFR is “Guilty of conspiring with others to build a one world government…”.[21] Conservative Democratic congressman from Georgia Larry McDonald, the second head of the John Birch Society, introduced American Legion National Convention Resolution 773 to the House of Representatives calling for a congressional investigation into the Council on Foreign Relations, but nothing came from it.[22]

Carroll Quigley claimed it “became well known among those who believe that there is an international conspiracy to bring about a one-world government.” In Tragedy and Hope, he based his analysis on his unsourced research in the papers of an Anglo-American elite organization that, he held, secretly controlled the U.S. and UK governments through a series of Round Table Groups. Critics assailed Quigley for his approval of the goals (not the tactics) of the Anglo-American elite while selectively using his information and analysis as evidence for their views.[23] Speaking of Carroll Quigley, Rep. Larry McDonald said, “He says, sure we’ve been working it, sure we’ve been collaborating with communism, yes we’re working with global accommodation, yes, we’re working for world government. But the only thing I object to is that we’ve kept it a secret.”.[24] CFR publications discuss multilateralism and global governance as well.[25]

In response to the allegations, the CFR’s website contains a FAQ section about its affairs.[26] …”

http://en.wikipedia.org/wiki/Council_on_Foreign_Relations

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Vote Your Conscience–Vote Your Heart–Vote Ron Paul–Faith, Family, Friends, Freedom, First–Peace and Prosperity–President Paul–Videos

Posted on December 4, 2011. Filed under: Agriculture, American History, Babies, Banking, Blogroll, Business, Climate, College, Communications, Crime, Culture, Demographics, Diasters, Drug Cartels, Economics, Education, Employment, Energy, Enivornment, European History, Farming, Federal Government, Fiscal Policy, Food, Foreign Policy, government, government spending, Health Care, history, Homes, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Medicine, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Religion, Resources, Science, Security, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , |

“I want to use all my strength, to resist the notion that I can run your lives, or run the economy, or run the world. I want to use that strength to repeal and reject that notion, and stand up and defend the principles of liberty.”

~Congressman Ron Paul

Ron Paul Money Bomb Dec. 16, 2011 – Pledge Now!

Ron Paul – “The one who can beat Obama”

BIG DOG

Ron Paul Ad – Consistent

Ron Paul Ad – Secure

Ron Paul Ad TRUST

Ron Paul Ad – Life

Ron Paul Ad – Plan

Thanksgiving Family Forum – Ron Paul Highlights

Ron Paul’s Full Speech at the Value Voters Summit 2011

Vintage Dr Ron Paul for Congress Political Infomercial

Ron Paul The Media Should Be Exposing Newt… Not Me

Newt Gingrich: Serial Hypocrisy

Ron Paul: There Are No “Cuts”

Ron Paul: Yes, We Can Cut $1 Trillion Immediately

Ron Paul’s Plan for Monetary Freedom

The Amazingly Accurate Predictions of Ron Paul

Ron Paul Predicted 9/11 a Decade Ago!!!!!!!!!!!!

Fox Fails to Make Ron Paul Look Like A Fool!

Newt Gingrich Agrees w/ Ron Paul on Closing Overseas Bases

Ron Paul’s What If ? Remastered

END THIS WAR!! Golden State – Bombs (The Ron Paul song)

This Video Changed My Life: ‘Ron Paul: Stop Dreaming’

Ron Paul: A New Hope

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The Power of An Idea–Ron Paul Rallies–Videos

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The Big Swap: Federal Reserve Bails Out European Banks–American People Pay By Higher Prices-Inflation–Videos

Posted on December 1, 2011. Filed under: Banking, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Fiscal Policy, Foreign Policy, government spending, Homes, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Strategy, Talk Radio, Taxes, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , |

James Rickards the Latest on the IMF and the Fed

James Rickards on the IMF becoming a Central Bank and the Fed becoming a Hedge Fund

Angell Says Fed Not Pushing ECB to Lower Interest Rates

US to bail out Europe because Germans refuse to

US banks downgraded

Eurozone debt vs US debt

Is The US Bailing Out Europe ?

Soaring Markets Reveal Clues About Big Banks’ Levels of Trust, Comfort

Background Articles and Videos

Has the Fed saved Europe? – MoneyWeek Investment Tutorial

Central bank liquidity swap

“…Central bank liquidity swap is a type of currency swap used by a country’s central bank to provide liquidity of its currency to another country’s central bank. [1][2]

On December 12, 2007, the Federal Open Market Committee (FOMC) announced that it had authorized temporary reciprocal currency arrangements (central bank liquidity swap lines) with the European Central Bank and the Swiss National Bank to help provide liquidity in U.S. dollars to overseas markets.[3] Subsequently, the FOMC authorized liquidity swap lines with additional central banks. The swap lines are designed to improve liquidity conditions in U.S. and foreign financial markets by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions during times of market stress.[4]

As of April 2009[update], swap lines were authorized with the following institutions: the Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Canada, Danmarks Nationalbank, the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Korea, the Banco de Mexico, the Reserve Bank of New Zealand, Norges Bank, the Monetary Authority of Singapore, Sveriges Riksbank, and the Swiss National Bank. The FOMC authorized these liquidity swap lines through October 30, 2009.

The Federal Reserve operates swap lines under the authority of Section 14 of the Federal Reserve Act and in compliance with authorizations, policies, and procedures established by the FOMC.

Description

These swaps involve two transactions. When a foreign central bank draws on its swap line with the Federal Reserve, the foreign central bank sells a specified amount of its currency to the Federal Reserve in exchange for dollars at the prevailing market exchange rate. The Federal Reserve holds the foreign currency in an account at the foreign central bank. The dollars that the Federal Reserve provides are deposited in an account that the foreign central bank maintains at the Federal Reserve Bank of New York. At the same time, the Federal Reserve and the foreign central bank enter into a binding agreement for a second transaction that obligates the foreign central bank to buy back its currency on a specified future date at the same exchange rate. The second transaction unwinds the first. At the conclusion of the second transaction, the foreign central bank pays interest, at a market-based rate, to the Federal Reserve.

When the foreign central bank lends the dollars it obtained by drawing on its swap line to institutions in its jurisdiction, the dollars are transferred from the foreign central bank’s account at the Federal Reserve to the account of the bank that the borrowing institution uses to clear its dollar transactions. The foreign central bank remains obligated to return the dollars to the Federal Reserve under the terms of the agreement, and the Federal Reserve is not a counterparty to the loan extended by the foreign central bank. The foreign central bank bears the credit risk associated with the loans it makes to institutions in its jurisdiction.

Revenue and cost impacts

The foreign currency that the Federal Reserve acquires is an asset on the Federal Reserve’s balance sheet. In tables 1, 9, and 10 of the H.4.1 statistical release, the dollar value of amounts that the foreign central banks have drawn but not yet repaid is reported in the line “Central bank liquidity swaps.”[5] Because the swap will be unwound at the same exchange rate that was used in the initial draw, the dollar value of the asset is not affected by changes in the market exchange rate. The dollar funds deposited in the accounts that foreign central banks maintain at the Federal Reserve Bank of New York are a Federal Reserve liability. In principle, draws would initially appear in tables 1, 9, and 10 in the line “foreign and official” deposits. However, the foreign central banks generally lend the dollars shortly after drawing on the swap line. At that point, the funds shift to the line “deposits of depository institutions.”

When a foreign central bank draws on its swap line to fund its dollar tender operations, it pays interest to the Federal Reserve in an amount equal to the interest the foreign central bank earns on its tender operations. The Federal Reserve holds the foreign currency that it acquires in the swap transaction at the foreign central bank (rather than lending it or investing it in private markets) and does not pay interest. The structure of the arrangement serves to avoid domestic currency reserve management difficulties for foreign central banks that could arise if the Federal Reserve actively invested the foreign currency holdings in the marketplace.[4]

The Federal Reserve Board issues a weekly release that includes information on the aggregate value of swap drawings outstanding. With the onset of the Global financial crisis of 2008–2009 and the collapse of Lehman Brothers on September 15, 2008, the balance grew rapidly. As of April 2009[update] the balance was $293,533 million.[5] Central bank liquidity swaps have maturities ranging from overnight to three months. Table 2 of the H.4.1 statistical release reports the remaining maturity of outstanding central bank liquidity swaps.[5] …”

http://en.wikipedia.org/wiki/Central_bank_liquidity_swap

 

What Are Fed Swap Lines and What Do They Do?

By Phil Izzo

“…The Federal Reserve moved in coordinated action with foreign central banks this morning in order to provide a pressure-release valve for funding markets without exposing the U.S. central bank to much risk.

The Fed announced an expansion of its program that supplies dollars to overseas markets at a cheaper rate. Basically, the Fed lends dollars to foreign central banks in return for their local currency for a specific period. Since the Fed isn’t lending to banks directly, the risk is essentially nonexistent, and it also isn’t exposed to changes in currency rates since the exchange rate is set for the duration of the swap.

The liquidity swap arrangements have a history of use when there are tensions in funding markets. They were used following the terrorist attacks of September 11, 2001and were revived in 2007 and used extensively during the financial crisis, especially after the collapse of Lehman Brothers when credit markets dried up. As market conditions improved, they were shut down in February 2010, but revived in May 2010 as sovereign debt problems began to emerge in Europe. (The Fed has a useful Q&A you can find here, and New York Fed research noted the success of the lines during the financial crisis) …”

http://blogs.wsj.com/economics/2011/11/30/what-are-fed-swap-lines-and-what-do-they-do/

 

 

 

 

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Ron Paul’s Address At 29th Cato Institute’s Monetary Conference And Remarks At Thanksgiving Family Forum–The Reason Ron Paul Will Be Elected President–Video

Posted on November 29, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Employment, Energy, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Resources, Security, Strategy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , |

Ron Paul- full speech at the CATO Institute

Congressman Ron Paul delivered a speech for the National Association of Home Builders at the 29th Annual Cato Monetary Conference yesterday. The key topics were the US monetary policy and the Federal Reserve.

Ron Paul Highlights at the Thanksgiving Family Forum (Family Leader Debate)

Ron Paul Explains the Economic Crisis

Ron Paul Tied for 1st in Iowa

First note that unlike President Barack Obama, Congressman Ron Paul is not reading from a telepromter.

Only a individual who truly understands what he is talking about can deliver such a address.

Second, Paul focuses on the key issue, the American people must decide what the functions of federal government should be.

Listen to the speech and learn.

Then support and vote for Ron Paul.

Background Articles and Videos

Ron Paul  – “The one who can beat Obama” 

Ron Paul Ad TRUST

Ron Paul Ad – Plan

Ron Paul Ad – Consistent

Ron Paul Ad – Life

Ron Paul Ad – Secure

Ron Paul Conviction Ad

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50 Year American Tax Revolution: The Impossible Became The Inevitable–Flat Tax or FairTax?Videos

Posted on November 1, 2011. Filed under: American History, Blogroll, Business, College, Communications, Economics, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, People, Philosophy, Politics, Public Sector, Raves, Regulations, Reviews, Science, Security, Strategy, Talk Radio, Taxes, Technology, Unions, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , |

Pronk Pops Show 52:November 2, 2011

Pronk Pops Show 51:October 26, 2011

Pronk Pops Show 50:October 19, 2011

Pronk Pops Show 49:October 12, 2011

Pronk Pops Show 48:October 5, 2011

Listen To Pronk Pops Podcast or Download Shows 52

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26

Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

Segment 0: 50 Year American Tax Revolution: When The Impossible Became The Inevitable–Flat Tax or FairTax–Videos

http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/

The Recession and Recovery in Perspective

Post-WWII Recessions

The Business Cycle Dating Committee of the National Bureau of Economic Research determines the beginning and ending dates of U.S. recessions. http://www.nber.org/cycles.html

It has determined that the U.S. economy experienced 10 recessions from 1946 through 2006. The committee determined that the 2007-2009 recession began in December 2007 and ended in June of 2009. Ending dates are typically announced several months after the recession officially ends. Read the June 2009 trough announcement by the NBER.

Length of Recessions

The 10 previous postwar recessions ranged in length from 6 months to 16 months, averaging about 10 1/2 months. The 2007-09 recession was the longest recession in the postwar period, at 18 months.

Depth of Recessions

The severity of a recession is determined in part by its length; perhaps even more important is the magnitude of the decline in economic activity. The 2007-09 recession was the deepest recession in the postwar period; at their lowest points employment fell by 6.3 percent and output fell by 5.1 percent.

http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/

http://seekingalpha.com/article/142954-two-charts-imply-current-u-s-recession-may-be-longest-in-history

the National Bureau of Economic Research

US Business Cycle Expansions and Contractions

http://www.nber.org/cycles.html

Taxes and Long-Term Economic Growth

Executive Summary

The 1960s and 1980s were periods of sustained high growth rates in the economy. The major reason for this growth is the tax cuts enacted in the beginning of each decade. President Kennedy’s and President Reagan’s tax cuts resulted in higher investment, lower unemployment, and improved overall economic performance.

Since March 1991, the U.S. economy has been expanding, though at a slower rate than previous post-war expansions. Productivity growth has been weak and must be improved. A tax cut that improves incentives to work, save, and invest is necessary to provide a framework for prosperity. As President Kennedy said, “A rising tide lifts all boats.”

http://www.house.gov/jec/growth/longterm/longterm.htm

2011 IRS Tax Brackets

Here are the 2011 tax tables, which make it easy to find which marginal tax bracket you are in:

Tax Bracket Single Married Filing Jointly Head of Household
10% Bracket $0 – $8,500 $0 – $17,000 $0 – $12,150
15% Bracket $8,500 – $34,500 $17,000 – $69,000 $12,150 – $46,250
25% Bracket $34,500 – $83,600 $69,000 – $139,350 $46,250 – $119,400
28% Bracket $83,600 – $174,400 $139,350 – $212,300 $119,400 – $193,350
33% Bracket $174,400 – $379,150 $212,300 – $379,150 $193,350 – $379,150
35% Bracket $379,150+ $379,150+ $379,150+

http://www.bargaineering.com/articles/federal-income-irs-tax-brackets.html

Source: Internal Revenue Service

Table 1 Summary of Federal Income Tax Data, 2009

Number of Returns with Positive AGI

AGI ($ millions)

Income Taxes Paid ($ millions)

Group’s Share of Total AGI

Group’s Share of Income Taxes

Income Split Point

Average Tax Rate

All Taxpayers 137,982,203 $7,825,389 $865,863 100.0% 100.0% - 11.06%
Top 1% 1,379,822 $1,324,572 $318,043 16.9% 36.7% $343,927.00 24.01%
1-5% 5,519,288 $1,157,918 $189,864 14.8% 22.0% 16.40%
Top 5% 6,899,110 $2,482,490 $507,907 31.7% 58.7% $154,643.00 20.46%
5-10% 6,899,110 $897,241 $102,249 11.5% 11.8% 11.40%
Top 10% 13,798,220 $3,379,731 $610,156 43.2% 70.5% $112,124.00 18.05%
10-25% 20,697,331

$1,770,140

$145,747 22.6% 17.0% 8.23%
Top 25% 34,495,551 $5,149,871 $755,903 65.8% 87.3% $ 66,193.00 14.68%
25-50% 34,495,551 $1,620,303 $90,449 20.7% 11.0% 5.58%
Top 50% 68,991,102 $6,770,174 $846,352 86.5% 97.7% > $32,396 12.50%
Bottom 50% 68,991,102

$1,055,215

$19,511 13.5% 2.3% < $32,396 1.85%

Source: Internal Revenue Service

Table 6

Total Income Tax Shares, 1980-2009 (Percent of federal income tax paid by each group)

Year

Total

Top 0.1%

Top 1%

Top 5%

Between 5% & 10%

Top 10%

Between 10% & 25%

Top 25%

Between 25% & 50%

Top 50%

Bottom 50%

1980

100%

19.05%

36.84%

12.44%

49.28%

23.74%

73.02%

19.93%

92.95%

7.05%

1981

100%

17.58%

35.06%

12.90%

47.96%

24.33%

72.29%

20.26%

92.55%

7.45%

1982

100%

19.03%

36.13%

12.45%

48.59%

23.91%

72.50%

20.15%

92.65%

7.35%

1983

100%

20.32%

37.26%

12.44%

49.71%

23.39%

73.10%

19.73%

92.83%

7.17%

1984

100%

21.12%

37.98%

12.58%

50.56%

22.92%

73.49%

19.16%

92.65%

7.35%

1985

100%

21.81%

38.78%

12.67%

51.46%

22.60%

74.06%

18.77%

92.83%

7.17%

1986

100%

25.75%

42.57%

12.12%

54.69%

21.33%

76.02%

17.52%

93.54%

6.46%

Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable

1987

100%

24.81%

43.26%

12.35%

55.61%

21.31%

76.92%

17.02%

93.93%

6.07%

1988

100%

27.58%

45.62%

11.66%

57.28%

20.57%

77.84%

16.44%

94.28%

5.72%

1989

100%

25.24%

43.94%

11.85%

55.78%

21.44%

77.22%

16.94%

94.17%

5.83%

1990

100%

25.13%

43.64%

11.73%

55.36%

21.66%

77.02%

17.16%

94.19%

5.81%

1991

100%

24.82%

43.38%

12.45%

55.82%

21.46%

77.29%

17.23%

94.52%

5.48%

1992

100%

27.54%

45.88%

12.12%

58.01%

20.47%

78.48%

16.46%

94.94%

5.06%

1993

100%

29.01%

47.36%

11.88%

59.24%

20.03%

79.27%

15.92%

95.19%

4.81%

1994

100%

28.86%

47.52%

11.93%

59.45%

20.10%

79.55%

15.68%

95.23%

4.77%

1995

100%

30.26%

48.91%

11.84%

60.75%

19.62%

80.36%

15.03%

95.39%

4.61%

1996

100%

32.31%

50.97%

11.54%

62.51%

18.80%

81.32%

14.36%

95.68%

4.32%

1997

100%

33.17%

51.87%

11.33%

63.20%

18.47%

81.67%

14.05%

95.72%

4.28%

1998

100%

34.75%

53.84%

11.20%

65.04%

17.65%

82.69%

13.10%

95.79%

4.21%

1999

100%

36.18%

55.45%

11.00%

66.45%

17.09%

83.54%

12.46%

96.00%

4.00%

2000

100%

37.42%

56.47%

10.86%

67.33%

16.68%

84.01%

12.08%

96.09%

3.91%

2001

100%

16.06%

33.89%

53.25%

11.64%

64.89%

18.01%

82.90%

13.13%

96.03%

3.97%

2002

100%

15.43%

33.71%

53.80%

11.94%

65.73%

18.16%

83.90%

12.60%

96.50%

3.50%

2003

100%

15.68%

34.27%

54.36%

11.48%

65.84%

18.04%

83.88%

12.65%

96.54%

3.46%

2004

100%

17.44%

36.89%

57.13%

11.07%

68.19%

16.67%

84.86%

11.85%

96.70%

3.30%

2005

100%

19.26%

39.38%

59.67%

10.63%

70.30%

15.69%

85.99%

10.94%

96.93%

3.07%

2006

100%

19.56%

39.89%

60.14%

10.65%

70.79%

15.47%

86.27%

10.75%

97.01%

2.99%

2007

100%

20.19%

40.41%

60.61%

10.59%

71.20%

15.37%

86.57%

10.54%

97.11%

2.89%

2008

100%

18.47%

38.02%

58.72%

11.22%

69.94%

16.40%

86.34%

10.96%

97.30%

2.70%

2009

100%

17.11%

36.73%

58.66%

11.81%

70.47%

16.83%

87.30%

10.45%

97.75%

2.25%

Source: Internal Revenue Service

http://www.taxfoundation.org/news/show/250.html#table1

JFK – Path to Prosperity

Excerpts from President John F Kennedy’s speech delivered on December 14, 1962 to the Economic Club of New York.

Income Tax Cut, JFK Hopes To Spur Economy 1962/8/13

JFK speech on tax cuts

John F. Kennedy State of the Union Address to a Joint Session of the United States Congress (1963)

JFK State of the Union Address (1963) (Part 1)

Interesting that the audio for the tax cut part of the speech is missing. “This net reduction in tax liabilities of $10 billion will increase the purchasing power of American families and business enterprises in every tax bracket, with greatest increase going to our low-income consumers. It will, in addition, encourage the initiative and risk-taking on which our free system depends–induce more investment, production, and capacity use–help provide the 2 million new jobs we need every year…”

January 14, 1963 – John F. Kennedy’s delivers the State of the Union address

State of the Union Address (January 14, 1963)

John Fitzgerald Kennedy

“…At home, the recession is behind us. Well over a million more men and women are working today than were working 2 years ago. The average factory workweek is once again more than 40 hours; our industries are turning out more goods than ever before; and more than half of the manufacturing capacity that lay silent and wasted 100 weeks ago is humming with activity.

In short, both at home and abroad, there may now be a temptation to relax. For the road has been long, the burden heavy, and the pace consistently urgent.

But we cannot be satisfied to rest here. This is the side of the hill, not the top. The mere absence of war is not peace. The mere absence of recession is not growth. We have made a beginning–but we have only begun.

Now the time has come to make the most of our gains–to translate the renewal of our national strength into the achievement of our national purpose.

America has enjoyed 22 months of uninterrupted economic recovery. But recovery is not enough. If we are to prevail in the long run, we must expand the long-run strength of our economy. We must move along the path to a higher rate of growth and full employment.

For this would mean tens of billions of dollars more each year in production, profits, wages, and public revenues. It would mean an end to the persistent slack which has kept our unemployment at or above 5 percent for 61 out of the past 62 months–and an end to the growing pressures for such restrictive measures as the 35-hour week, which alone could increase hourly labor costs by as much as 14 percent, start a new wage-price spiral of inflation, and undercut our efforts to compete with other nations.

To achieve these greater gains, one step, above all, is essential–the enactment this year of a substantial reduction and revision in Federal income taxes.

For it is increasingly clear–to those in Government, business, and labor who are responsible for our economy’s success–that our obsolete tax system exerts too heavy a drag on private purchasing power, profits, and employment. Designed to check inflation in earlier years, it now checks growth instead. It discourages extra effort and risk. It distorts the use of resources. It invites recurrent recessions, depresses our Federal revenues, and causes chronic budget deficits.

Now, when the inflationary pressures of the war and the post-war years no longer threaten, and the dollar commands new respect-now, when no military crisis strains our resources–now is the time to act. We cannot afford to be timid or slow. For this is the most urgent task confronting the Congress in 1963.

In an early message, I shall propose a permanent reduction in tax rates which will lower liabilities by $13.5 billion. Of this, $11 billion results from reducing individual tax rates, which now range between 20 and 91 percent, to a more sensible range of 14 to 65 percent, with a split in the present first bracket. Two and one-half billion dollars results from reducing corporate tax rates, from 52 percent–which gives the Government today a majority interest in profits-to the permanent pre-Korean level of 47 percent. This is in addition to the more than $2 billion cut in corporate tax liabilities resulting from last year’s investment credit and depreciation reform.

To achieve this reduction within the limits of a manageable budgetary deficit, I urge: first, that these cuts be phased over 3 calendar years, beginning in 1963 with a cut of some $6 billion at annual rates; second, that these reductions be coupled with selected structural changes, beginning in 1964, which will broaden the tax base, end unfair or unnecessary preferences, remove or lighten certain hardships, and in the net offset some $3.5 billion of the revenue loss; and third, that budgetary receipts at the outset be increased by $1.5 billion a year, without any change in tax liabilities, by gradually shifting the tax payments of large corporations to a . more current time schedule. This combined program, by increasing the amount of our national income, will in time result in still higher Federal revenues. It is a fiscally responsible program–the surest and the soundest way of achieving in time a balanced budget in a balanced full employment economy.

This net reduction in tax liabilities of $10 billion will increase the purchasing power of American families and business enterprises in every tax bracket, with greatest increase going to our low-income consumers. It will, in addition, encourage the initiative and risk-taking on which our free system depends–induce more investment, production, and capacity use–help provide the 2 million new jobs we need every year–and reinforce the American principle of additional reward for additional effort.

I do not say that a measure for tax reduction and reform is the only way to achieve these goals.

–No doubt a massive increase in Federal spending could also create jobs and growth-but, in today’s setting, private consumers, employers, and investors should be given a full opportunity first.

–No doubt a temporary tax cut could provide a spur to our economy–but a long run problem compels a long-run solution.

–No doubt a reduction in either individual or corporation taxes alone would be of great help–but corporations need customers and job seekers need jobs.

–No doubt tax reduction without reform would sound simpler and more attractive to many–but our growth is also hampered by a host of tax inequities and special preferences which have distorted the flow of investment.

–And, finally, there are no doubt some who would prefer to put off a tax cut in the hope that ultimately an end to the cold war would make possible an equivalent cut in expenditures-but that end is not in view and to wait for it would be costly and self-defeating.

In submitting a tax program which will, of course, temporarily increase the deficit but can ultimately end it–and in recognition of the need to control expenditures–I will shortly submit a fiscal 1964 administrative budget which, while allowing for needed rises in defense, space, and fixed interest charges, holds total expenditures for all other purposes below this year’s level.

This requires the reduction or postponement of many desirable programs, the absorption of a large part of last year’s Federal pay raise through personnel and other economies, the termination of certain installations and projects, and the substitution in several programs of private for public credit. But I am convinced that the enactment this year of tax reduction and tax reform overshadows all other domestic problems in this Congress. For we cannot for long lead the cause of peace and freedom, if we ever cease to set the pace here at home.

Tax reduction alone, however, is not enough to strengthen our society, to provide opportunities for the four million Americans who are born every year, to improve the lives of 32 million Americans who live on the outskirts of poverty.

The quality of American life must keep pace with the quantity of American goods.

This country cannot afford to be materially rich and spiritually poor.

Therefore, by holding down the budgetary cost of existing programs to keep within the limitations I have set, it is both possible and imperative to adopt other new measures that we cannot afford to postpone. …”

http://millercenter.org/president/speeches/detail/5762

Reagan on Taxes

Ronald Reagan-Remarks on Signing the Tax Reform Act (October 22, 1986)

President Reagans Remarks on Signing the Tax Reform Act of 1986 – 10/22/86

Dan Mitchell explains the fair tax

The Flat Tax: How it Works and Why it is Good for America

What is the FairTax legislation?

Herman Cain breaks down his 9-9-9 plan (Fox Debate)

Herman Cain’s 9-9-9 Tax Plan (AEI Interview)

Herman Cain on Taxes (Interview)

Milton Friedman – The Free Lunch Myth

Ron Paul on Taxes (Speech)

Ron Paul – THE FAIRTAX REVOLUTION (speech)

Herman Cain 999 plan will add new taxes explained by Ron Paul

Herman Cain Lied To Ron Paul

Reagan; Taxes and Budget Deficit: Revenue 19% of GDP; Spending is 23%; Revenue is sufficient

JFK Defends The First Amendment

Background Articles and Videos

Taxes Due

If you are trying to calculate your taxes due, these tables may be more helpful. Remember that taxes are due on your adjusted income after accounting for deductions and other adjustments.

Single Filers

These tables are for single filers who are not surviving spouses or heads of household:

Taxable Income Tax
$0 – $8,500 10% of taxable income
$8,500 – $34,500 $850 plus 15% of excess over $8,500
$34,500 – $83,600 $4,750 plus 25% of excess over $34,500
$83,600 – $174,400 $17,025 plus 28% of excess over $83,600
$174,400 – $379,150 $42,449 plus 33% of excess over $174,400
$379,150+ $110,016.50 plus 35% of excess over $379,150

Married & Surviving Spouses

These tables are for married filing jointly or surviving spouses:

Taxable Income Tax
$0 – $17,000 10% of taxable income
$17,000 – $69,000 $1,700 plus 15% of excess over $17,000
$69,000 – $139,350 $9,500 plus 25% of excess over $69,000
$139,350 – $212,300 $27,087.50 plus 28% of excess over $139,350
$212,300 – $379,150 $47,513.50 plus 33% of excess over $212,300
$379,150+ $102,574 plus 35% of excess over $379,150

Head of Household

These tax tables are for those considered Heads of Household:

Taxable Income Tax
$0 – $12,150 10% of taxable income
$12,150 – $46,250 $1,215 plus 15% of excess over $12,150
$46,250 – $119,400 $6,330 plus 25% of excess over $46,250
$119,400 – $193,350 $24,617.50 plus 28% of excess over $119,400
$193,350 – $379,150 $45,323.50 plus 33% of excess over $193,350
$379,150+ $106,637.50 plus 35% of excess over $379,150

Married Filing Separately

These are tax tables for those filing as Married Filing Separately:

Taxable Income Tax
$0 – $8,500 10% of taxable income
$8,500 – $34,500 $850 plus 15% of excess over $8,500
$34,500 – $69,675 $4,750 plus 25% of excess over $34,500
$69,675 – $106,150 $13,543.75 plus 28% of excess over $69,675
$106,150 – $189,575 $23,756.75 plus 33% of excess over $106,150
$189,575+ $51,287 plus 35% of excess over $189,575

With the passage of the Bush era tax cut extension, these brackets aren’t much different than the 2010 tax brackets after an adjustment for inflation.

http://www.bargaineering.com/articles/federal-income-irs-tax-brackets.html

History of Federal Individual Income Bottom and Top Bracket Rates

Historical Income Tax Rates & Brackets

Tax Rates 1

Bottom bracket

Top bracket

Calendar Year

Rate
(percent)

Taxable Income Up to

Rate
(percent)

Taxable
Income over

1913-15 1 20,000 7 500,000
1916 2 20,000 15 2,000,000
1917 2 2,000 67 2,000,000
1918 6 4,000 77 1,000,000
1919-20 4 4,000 73 1,000,000
1921 4 4,000 73 1,000,000
1922 4 4,000 56 200,000
1923 3 4,000 56 200,000
1924 2 1.5 4,000 46 500,000
1925-28 2 1? 4,000 25 100,000
1929 2 4? 4,000 24 100,000
1930-31 2 1? 4,000 25 100,000
1932-33 4 4,000 63 1,000,000
1934-35 3 4 4,000 63 1,000,000
1936-39 3 4 4,000 79 5,000,000
1940 3 4.4 4,000 81.1 5,000,000
1941 3 10 2,000 81 5,000,000
1942-434 3 19 2,000 88 200,000
1944-45 23 2,000 5 94 200,000
1946-47 19 2,000 5 86.45 200,000
1948-49 16.6 4,000 5 82.13 400,000
1950 17.4 4,000 5 91 400,000
1951 20.4 4,000 5 91 400,000
1952-53 22.2 4,000 5 92 400,000
1954-63 20 4,000 5 91 400,000
1964 16 1,000 77 400,000
1965-67 14 1,000 70 200,000
1968 14 1,000 6 75.25 200,000
1969 14 1,000 6 77 200,000
1970 14 1,000 6 71.75 200,000
1971 14 1,000 7 70 200,000
1972-78 814 1,000 7 70 200,000
1979-80 814 2,100 7 70 212,000
1981 8 9 13.825 2,100 7 9 69.125 212,000
1982 8 12 2,100 50 106,000
1983 8 11 2,100 50 106,000
1984 8 11 2,100 50 159,000
1985 8 11 2,180 50 165,480
1986 8 11 2,270 50 171,580
1987 8 11 3,000 38.5 90,000
1988 8 15 29,750 1028 29,750
1989 8 15 30,950 1028 30,950
1990 8 15 32,450 1028 32,450
1991 8 15 34,000 31 82,150
1992 8 15 35,800 31 86,500
1993 8 15 36,900 39.6 250,000
1994 8 15 38,000 39.6 250,000
1995 8 15 39,000 39.6 256,500
1996 8 15 40,100 39.6 263,750
1997 8 15 41,200 39.6 271,050
1998 8 15 42,350 39.6 278,450
1999 8 15 43,050 39.6 283,150
2000 8 15 43,850 39.6 288,350
2001 8 15 45,200 39.1 297,350
2002 8 10 12,000 38.6 307,050
200311 8 10 14,000 35.0 311,950
2004 8 10 14,300 35.0 319,100
2005 8 10 14,600 35.0 326,450
2006 8 10 15,100 35.0 336,550
2007 8 10 15,650 35.0 349,700
2008 8 10 16,050 35.0 357,700
2009
10
16,700 35.0 372,950
2010
10
16,700 35.0 373,650
201112
10
17,000 35.0 379,150

1 Taxable income excludes zero bracket amount from 1977 through 1986. Rates shown apply only to married persons filing joint returns beginning in 1948. Does not include either the add on minimum tax on preference items (1970-1982) or the alternative minimum tax (1979-present). Also, does not include the effects of the various tax benefit phase-outs (e.g. the personal exemption phase-out). From 1922 through 1986 and from 1991 forward, lower rates applied to long-term capital gains.

2 After earned-income deduction equal to 25 percent of earned income.

3 After earned-income deduction equal to 10 percent of earned income.

4 Exclusive of Victory Tax.

5 Subject to the following maximum effective rate limitations.

[year and maximum rate (in percent)] 1944-45 –90; 1946-47 –85.5; 1948-49 –77.0; 1950 –87.0; 1951 –87.2; 1952-53 –88.0; 1954-63 –87.0.

6 Includes surcharge of 7.5 percent in 1968, 10 percent in 1969, and 2.6 percent in 1970.

7 Earned income was subject to maximum marginal rates of 60 percent in 1971 and 50 percent from 1972 through 1981.

8 Beginning in 1975, a refundable earned-income credit is allowed for low-income individuals.

9 After tax credit is 1.25 percent against regular tax.

10 The benefit of the first rate bracket is eliminated by an increased rate above certain thresholds. The phase-out range of the benefit of the first rate bracket was as follows: Taxable income between $71,900 and $149,250 in 1988; taxable income between $74,850 and $155,320 in 1989; and taxable income between $78,400 and $162,770 in 1990. The phase-out of the benefit the first rate bracket was repealed for taxable years beginning after December 31, 1990. This added 5 percentage points to the marginal rate for those by the phaseout, producing a 33 percent effective rate.

11 Rates for 2003 are after enactment of the Jobs and Growth Tax Relief Reconciliation Act. Prior to enactment the rates were 10% up to $12,000 and 38.6% on amounts over $311,950.

12 The 2011 rates were extended for two years after enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

Sources: Joint Committee on Taxation, “Overview of Present Law and Economic Analysis Relating to Marginal Tax Rates and the President’s Individual Income Tax Rate Proposals” (JCX-6-01), March 6, 2001, and Congressional Research Service, “Statutory Individual Income Tax Rates and Other Elements of the Tax System: 1988 through 2008,” (RL34498) May 21, 2008. Tax Foundation, “Federal Individual Income Tax Rates History: Income Years 1913-2011,”

http://ntu.org/tax-basics/history-of-federal-individual-1.html

Paul Samuelson and Tax Policy in the Kennedy
Administration

Joseph J. Thorndike

“…Recovery from the recession of 1958 had been anemic. The nation had never
returned to anything like high employment, with more than 5 percent of workers
continually idle: “A most disappointing performance in comparison with earlier
post-war recoveries and desirable social goals.” Such sluggishness threatened to
become permanent, unless Congress did something to foster not just short-term
recovery, but long-term growth.

Expansionary fiscal policy was the only viable solution, Samuelson explained,
because monetary policy was constrained by a chronic balance of payments
deficit. Policymakers should move quickly to increase and accelerate spending
programs that were “desirable for their own sake.” They should also boost
unemployment benefits, foster residential housing construction through various
incentives, and pursue a variety of other socially desirable spending programs,
including urban renewal and natural resource development.

Tax Cuts

Samuelson warned that additional spending might not be
enough to win the battle against recession — and keep it won. In that case, the
nation must turn to a second line of economic defense: tax cuts. Samuelson
understood that expansionary tax cuts were controversial, not least because they
seemed to flout the hoary traditions of fiscal conservatism. If deficits were a
natural byproduct of recession, then making them even bigger by slashing tax
rates seemed rash — at least to many policymakers.

But Samuelson directly challenged such atavistic orthodoxies. Deficits that
arose from stimulatory fiscal policy were not just tolerable, but desirable.
They had to be distinguished, he insisted, from shortfalls brought on by
excessive spending:

The deficits that come automatically from recession or which are a necessary part of a determined effort to restore the economic system to health are quite different phenomena [from deficits driven by out-of-control spending].They are signs that our automatic built-in stabilizers are working, and that we no longer will run the risk of going into one of the great depressions that characterized our economic history before the war.

In the face of persistently high unemployment, policymakers should enact temporary tax cuts,
Samuelson advised. “Congress could legislate, for example, a cut of three or
four percentage points in the tax rate applicable to every income class, to take
effect immediately under our withholding system, in March or April and to
continue until the end of the year,” he wrote. Also, the president might be
granted authority to extend those tax cuts for six months or a year after their
initial expiration.

Tax cuts must be temporary, however, if only to preserve the nation’s
long-term fiscal health. “With the continued international uncertainty and with
new public programs coming up in the years ahead,” Samuelson wrote, “sound
finance may require a maintenance of our present tax structure, and any
weakening of it in order to fight a recession might be tragic.”

The report left room for more permanent reductions in personal income tax
rates, which most economists considered excessively high. But such cuts should
be part of more fundamental tax reform, including efforts to broaden the tax
base by reducing preferences. That sort of tax program should be advanced on its
own merits, Samuelson wrote, not as part of an antirecession package.

A Moderate Manifesto

Samuelson’s report was ambitious, but it
was hardly radical. By stressing a few relatively moderate spending increases –
and the acceleration of existing spending programs — it sought to draft
expansionary fiscal policy out of existing spending priorities. It also stressed
that major new spending programs should await further analysis of the
economic situation.

“It is just as important to know what not to do as to know what to do,” the
report noted. “What is definitely not called for in the present situation is a
massive program of hastily devised public works whose primary purpose is merely
that of making jobs and getting money pumped into the economy.” The New Deal was
replete with such spending, but 1961 was not 1933. There was no need to “push
the panic button and resort to inefficient spending devices,” the report said.

The Samuelson report received a generally warm welcome, especially from the
press. Most observers seemed to understand that it was carefully designed to put
a moderate face on Democratic policies, and they valued the effort. Still, not
everyone was convinced that it would succeed. “The recommendations, of course,
are those of a small group of men operating independently of the many political
and bureaucratic factors that go into the formation of national policy,” The
New York Times
observed. “That gives the recommendations the virtue of being
relatively ‘pure,’ but it also makes them subject to some revision in the
government wringer.”9

http://www.taxhistory.org/thp/readings.nsf/ArtWeb/AAFB5F763226FD37852576A80075F253?OpenDocument

Economics USA, Fiscal Policy

The Kennedy Tax Cut John F. Kennedy took office as the country was
already beginning its recovery from the Recession of 1960, but unemployment
remained high. Kennedy’s advisors realized the government would soon be taking
in ore than it was spending. That surplus would stop economic growth, well short
of full employment. That could be corrected in two ways: by tax cuts or
increased expenditures. Kennedy was committed to tax cuts despite calls from
John Kenneth Galbraith, a long-time friend, who lobbied that social programs on
the behalf of the poor were in need of more support. The Treasury Department was
dubious about a big tax-cut and wanted only a 4 billion cut. Kennedy advisor and
chairman of the Council of Economic Advisors Walter Heller was pushing for a 12
billion cut. Kennedy tried to sell the $12 billion tax-cut to a reluctant
congress. Congress passed the Kennedy tax program following his death. The
economy immediately took off in a burst of prosperity.

Comment and
Analysis by Richard Gill.
What the tax cut did was simply give more
disposable income to consumers. It shifted private spending up. The gap between
spending and full employment was eradicated.. The apparent success of the
tax-cut of 1964 was hailed by many as a total vindication of Keynesian ideas

http://www.crawfordsworld.com/rob/ape/EconU$A/Pgm06.html

Economic Policy and the Road to Serfdom: The Watershed of 1913
Brian Domitrovic

“…The answer to the first question is that the saved pay did not retain its value, meaning that one cannot really hold that there had been a true return to full employment during the war. From 1944 to 1948, the United States experienced inflation of 42 percent (the Fed had been expansionist again), devaluing savings accrued before that time. Moreover, redemptions of U.S. war bonds (where so much of workers’ pay had gone during World War II) were taxed at one’s marginal income tax rate, and rates were jacked up across the board, the top one reaching 91 percent. Therefore, when World War II employees redeemed the bonds after the war, the World War II employer—the government—recovered much of what it had laid out in pay to its workers. A conservative estimate is that given inflation and taxes, the average World War II worker lost half of his or her pay to the government. In economic terms, this means that World War II solved the unemployment problem of the 1930s only half as much as is commonly supposed.

As for the second question, GDP fell precipitously from 1944 to 1947, by 13 percent, as prices soared. This was a clear indication that the growth of the war years was artificial. Nonetheless, living standards improved, as the real sector made huge inroads into the government’s share of economic production. Then a transition hit: the postwar inflation stopped. This occurred because the U.S. government focused on its commitment to the world made at the 1944 Bretton Woods conference that it would not overproduce the dollar so as to jeopardize the $35 gold price. And when Republicans won control of Congress in 1946, they insisted on getting a tax cut; they finally passed it over President Harry Truman’s veto in April 1948. The institutions of 1913 had signaled a posture of retreat.

That is when postwar prosperity got going. From 1947 to 1953, growth rolled in at the old familiar rate of 4.6 percent per annum, as unemployment dived and prices stayed at par except for a strange 8 percent burst just as the Korean War started.

Taxes were still high, however, with rates that started at 20 percent and peaked at 91 percent. When recession hit in 1953, a chorus rose that they be hacked away. But for the eight years of his presidency, Dwight D. Eisenhower resisted these calls for tax relief. Despite the common myth of “Eisenhower prosperity,” the years 1953 to 1960 saw economic growth far below the old par, at only 2.4 percent, and there were three recessions during this period. Monetary policy, for its part, was unremarkable. Once again the coincidence held: unremarkable monetary policy and aggressive tax policy led to a half-baked result.

Much ink has been spilled on how the JFK tax cuts of 1962 and 1964 were “Keynesian” and “demand-side.” Whatever we want to call the policy mix of the day, in the JFK and early Lyndon B. Johnson years, fiscal and monetary policy clearly retreated. Income taxes got cut across the board, with every rate in the Eisenhower structure going down, the top from 91 percent to 70 percent, the bottom from 20 percent to 14 percent. And monetary policy zeroed in (at least through 1965) on a stable value of the dollar, with the gold price and the price level sticking at par after making startling moves up with the final Eisenhower recessions. The results: from 1961 to 1968, real U.S. growth was 5.1 percent yearly; unemployment hit peacetime lows; and inflation held in the heroic 1 percent range before the latter third of the period, when it began creeping up by a point a year. The real effects inspired slogans. If four decades prior had been the “Roaring ’20s,” these were the “Swingin’ ’60s” and “The Go-Go Years.”

At the end of the decade, however, the government loudly signaled a reversal in fiscal and monetary policy. The Fed volunteered that it would finance budget deficits, and LBJ pleaded for and got an income tax surcharge, soon accompanied (under Richard M. Nixon) by an increase in the capital-gains rate on the order of 100 percent. This two-front reassertion of fiscal and monetary policy held for a dozen years. The nickname eventually given to that period, in view of the real effects, was the “stagflation era” (for stagnation plus inflation). From 1969 to 1982, real GDP went to half that of the Go-Go Years, to 2.46 percent; the price level tripled (with gold going up twentyfold); average unemployment roughly doubled to 7.5 percent; three double-dip recessions occurred; and stocks and bonds suffered a 75 percent real loss. It was the worst decade of American macroeconomic history save the 1930s …”

http://www.firstprinciplesjournal.com/articles.aspx?article=1484

How the Government Dealt With Past Recessions

Since the Great Depression, presidents have frequently experimented with Keynesian economics to combat recessions. Three economists chronicle the history of government policy during past recessions and explain what worked and what didn’t.
FISCAL POLICY: ITS MACROECONOMIC PERSPECTIVEby James Tobin
“…In making a major cut in federal income taxes the centerpiece of his program,
George w. Bush has followed two influential precedents, one of Democratic
Presidents Kennedy and Johnson in 1962-64 and the other of course that of
Republican President Reagan in 1981. Candidate Bob Dole obeyed Republican
tradition by proposing in his 1996 campaign a 15% across-the-board cut in income
tax rates. Instead the reelection of Bill Clinton continued the regime of fiscal
discipline and monetary wisdom begun by Treasury Secretary Rubin and Federal
Reserve Chairman Greenspan in 1993. The economy and the federal budget were
doing so well in election year 2000 that it seemed unlikely that young Mr. Bush
could be elected, much less succeed in reviving Reaganomic fiscal policies. Yet
now in 2001 it seems quite probable that a substantial permanent cut in income
taxes will be enacted, along with an emergency package to encourage spending
soon this year.
The story of macroeconomic and fiscal developments over the last
forty years is an amalgam of economic theory, politics, and ideology. I admit to
being both a Keynesian and a neoclassical economist and both a liberal and a
conservative in public policy. I was an adviser to President Kennedy, and an
informal consultant to other Democratic candidates. Win or lose, my advice was
very often not taken. In 1962-64, when JFK first considered and then recommended
cutting taxes, the economy was hesitantly recovering from the 1959-60 recession.
Kennedy’s first measures were incentives for business plant and equipment
investments, accelerated depreciation allowances and tax credits. The major tax
legislation, in 1964, was intended to keep the recovery from petering out
prematurely. Unemployment had fallen from 7% at JFK’s inauguration in 1961 to
the 5-6% range, but the Administration’s target was 4%. It was reached in 1965.
The stimulus of the tax cut was unexpectedly augmented by spending for Vietnam.
The combined spending was excessive, reducing unemployment a point below the 4%
target and unleashing unwelcome inflation in 1966-68. President Johnson
belatedly and reluctantly was persuaded to prevail on the Congress to raise
taxes temporarily in 1968. It was too late, and the Nixon Administration
inherited a difficult economy. Moral: unforeseen events may make you regret a
permanent loss of federal revenue, and it is awfully difficult ever to raise
taxes. This is even truer now that any tax increase is a deadly sin in the
litany of the G.O.P.
REAGAN’S 1981 CUT: SUPPLY-SIDE REFORM WAS DEMAND STIMULUS
INSTEAD

Ronald Reagan’s tax cut took effect at the depths of the worst
recession since World War II. Unemployment had hit double digits. This was the
cost of the crusade of the Federal Reserve under Chairman Paul Volcker against
an inflation that itself had in 1979-80 hit double digits. The tax cut was a big
stimulus to consumer and business spending, reinforced by Reagan’s buildup of
the U.S. military.

The period 1981-88 was one of recovery from the recession,
bringing unemployment back down to 6%. The high year-to-year rates of increase
of economic activity and real Gross Domestic Product (GDP) during such
business-cycle upswings reflect the re-employment of idle resources, both
workers and industrial capacity. This additional output growth is the essence of
prosperity. But this pace cannot be sustained. Once the economy returns to full
employment, the economy can grow only at its long-run sustainable rates of
increase in the supplies of economic resources and, especially, in their
productivity.

The architects of Reaganomics styled themselves Supply-Siders.
They scorned the Demand-Side theories and policies they attributed to John
Maynard Keynes and to his “liberal” followers, whom they held responsible for
the stagflation of the 1970s. In their view the Federal Reserve could and should
control inflation by stabilizing the supply of money, as preached in the
Monetarism of Milton Friedman. Keynesians were, they argued, dangerously wrong
to think that demand-side stimuli to spending could lift employment, GDP, and
economic welfare. Instead what the country needs are policies to enhance supply,
in particular by lowering taxes, providing incentives to work, save, innovate,
take risks. That was the spirit and the purpose of Reagan fiscal policy.

In practice Reaganomics turned out to be the biggest and most
successful Demand-side fiscal gambit in peacetime U.S. history. What it was not
was what it was intended to be, a Supply-side transformation of the economy.
There was zero evidence that the American economy’s capacity to produce goods
and services at full employment was any greater at the end of the
eighties than would have been prophesied a decade earlier without Reagan fiscal
policy. The trend of productivity growth was the same as before.

These Supply-side failures may seem surprising, since income tax
cuts were meant to embody incentives for more productive and innovative
behavior. Unfortunately these cuts in tax rates also bring windfalls for
behavior that already took place. For example, offering concessions for capital
gains on future acquisitions of assets might be socially useful, while reducing
taxes on gains realized on holdings bought years ago clearly is not. The test is
whether the taxpayer must in order to benefit change his behavior in the desired
supply-side direction. If yes, the touted incentives work. If no, the individual
taxpayers’ gains have to be defended otherwise, as deserved and just.
Undergraduate microeconomics students know the difference between the “income
effects” and “substitution effects” of variations in prices or taxes. The
substitution effects are responses to incentives, but they are often outweighed
by income effects in the perverse direction. Income effects may sometimes be
what the doctor ordered, more consumer spending. But those effects can overwhelm
Supply-side objectives. A cut in marginal income tax rates may elicit more work
from some taxpayers, but workers whose taxes are reduced anyway may take some of
their gains in leisure. The same objections apply to tax credits intended to
induce desirable behavior, for example saving or paying school and college
tuitions. These devices have long been favorites of politicians in both
parties. …”

http://www.econ.yale.edu/news/tobin/jt_01_tp_perspective.htm

Econ 101: How do Tax Cuts Work?

Despite the medias portrayal, tax cuts for the rich arent bad and they boost the economy.

By Gary Wolfram, Ph.D.

http://www.mrc.org/bmi/commentary/2006/Econ__How_do_Tax_Cuts_Work_.html

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Pronk Pops Show 52, November 2, 2011: Segment: 2: Herman Cain’s 9-9-9 Plan: 9% Business Income Flat Tax, 9% Personal Income Flat Tax, 9% National Retail Consumption Tax–Videos

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Who Is Behind And Funding Occupy Wall Street–The Radical Left: Communist Party USA, Socialist Party USA, Democratic Socialists of America, Maoist Revolutionary Communist Party, Trotskyist Socialist Workers Party, Worker’s World Party,Working Families Party (front for ACORN), New York Communities For Change, Adbusters, George Soros and Barack Obama–Video

Posted on October 16, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Computers, Crime, Culture, Drug Cartels, Economics, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Strategy, Talk Radio, Taxes, Unemployment, Union, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

“Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!”

~ Benjamin Franklin

“A democracy is nothing more than mob rule, where fifty-one percent
of the people may take away the rights of the other forty-nine.”

~Thomas Jefferson

UPDATED

Occupy Wall Street TRUTH! (Message to young Protesters) 

Congratulations You Figured It Out!

Suggest You Add This Link To Your List

http://mises.org/


  How to Reject the Statist Quo | Jeffrey A. Tucker

Inside Occupy Wall Street’s Office 

Obama gets his class war

Police arrest protesters on ‘day of action’ – ‘Occupy Wall Street’

Occupy:  Soros, Piven and SEIU Working to Destroy Americas Financial System to Create Revolution

How ‘Occupy Wall Street’ Was Organized From Day One by SEIU

SEIU President Arrested At Occupy Brooklyn Bridge Protest

Occupy Wall Street Was Organized by SEIU, ACORN Front Group ‘The Working Family Party’

ANGELA DAVIS

(Communist Party Member)

Angela Davis…Occupy Oakland

Angela Davis Occupy Wall St @ Washington Sq Park Oct 30 2011 General Strike November 2

Glenn Beck: Soros connections to OWS

Glenn Beck: Occupy is SEIU world Marxist movement

Glenn Beck: Tea Party vs Occupy Wall Street

GBTV: What is Occupy Wall Street going to do for the their two month anniversary

Occupy Wall Street = What Democrats, Nazis And Communists All Have In Common

OWS – ACORN Behind Occupy Wall Street Movement!

The Greatest Revolution in History has Begun! BEST OCCUPY DOCUMENTARY

Growing Anti-Semitism In The Occupy Wall Street Movement! (They’re EVIL I Tells Ya! E V I L !)

Voices from Occupy Wall Street (Nov-2011)(POLITICS IS ACTION series)

OCCUPY OAKLAND Police launch tear gas, flash bang canisters into crowd of protesters OWS Wall Street

Fox News says, OCCUPY WALL STREET are FAR-LEFT ANTI-AMERICAN SOCIALISTS

OWS: Occupy Oakland Anarchists Smash Windows and Destroy Business Property

Fox News says, OCCUPY WALL STREET are DEMONIC, BRAINLESS, LOSERS

TEA PARTY Invades OCCUPY DC- (explicit)

Occupy Wall Street Protestor on Federal Reserve

 A great and brilliant speech from a young Ron Paul supporter. Three cheers for capitalism!

My advice to classical liberals or libertarians and Ron Paul supporters is to stay clear of the Occupy Wall Street mob.

The primary organizers of Occupy Wall Street are radical left political parties and unions.

All of them are collectivists that oppose limited government and instead want to increase government dependency.

Just to name a few, they include the Communist Party USA, Socialist Party USA, Democratic Socialists of America, Maoist Revolutionary Communist Party, Trotskyist Socialist Workers Party, Worker’s World Party, SEIU, and AFL-CIO.

Do not become one of the dupes.

The entire Occupy Wall Street action is a distraction from the Obama Administration’s and Democratic Party’s failed economic policies resulting in even higher unemployment rates and more people dependent upon government.

This is exactly why Obama intentionally implemented the first stimulus package and now asks for a second one relabeled the American Jobs Act.

Both Obama and Occupy Wall Street are executing the Cloward-Piven strategy to blame the high unemployment on business and not the government.

Government is the problem not the solution.

All the far left  radical parties are advocating more government in the form of socialism and communism as the solution.

Simply ignore Occupy Wall Street.

They will quickly fade into history and be soon forgotten.

Judge Napolitano: Freedom Is The Law Of The Land! ( Occupy Wall Street Protest ) ( OWS )

Afterburner with Bill Whittle: Three and a Half Days

OCCUPY WALL STREET = BRAINWASHED SHEEP HIPPIES SOCIALISTS COMMUNISTS

Budding Occupy Wall Street Movement Gives Voice to Anger Over Greed, Corporations

What We Saw at the Occupy Wall Street Protest

Occupy Wall Street Organized by Acorn Front; Connection to Obama Admin & Socialist Parties

‘Occupy Wall Street’ Growing More Organized

Freedom Watch – Judge Napolitano’s Open Letter to Occupy Wall Street Oct 13, 2011

Obama SEIU’s Agenda is My Agenda

Andy Stern, SEIU President and Communist

AFL-CIO President Richard Trumka Supporting Occupy Wall Street

Unions join w/ Occupy Wall St.

Occupy Wall Street Journal is Funded By George Soros’ Tides

Alex Jones – Webster Tarpley – George Soros Hijacking Occupy Wall Street  – part 1/2

Alex Jones – Webster Tarpley – George Soros Hijacking Occupy Wall Street  – part 2/2

Communist Jed Brandt_ We Need To Destroy The United States (Occupy Wall Street).

Communist Party Occupy Wall Street Conference Call 10/11/11

Occupy Wall Street: Communist and Marxist professor, Slavoj Zizek, galvanizes the crowd

Communist and Marxist Slavoj Zizek en Occupy Wall Street

Cornel West in Liberty Plaza Warns Protest Will Grow

Occupy Protests in LA and DC: Are Socialists, Crazies and Hate-Mongers Really the 99%?

[#OccupyWallstreet] Socialist Revolution at occupy wall street

#Occupy Wall Street Frances Fox Piven ‘We Desperately Need a Popular Uprising in the US’

Frances Fox Piven Fellow Professors Indoctrinating College Students at CUNY

Occupy Wall Street Journal is Funded By George Soros’ Tides, Code Pink and Michael Moore

George Soros backs anti-Wall Street protests

The Cloward/Piven Strategy 1

The Cloward/Piven Strategy 2

The Cloward/Piven Strategy 3

The Cloward/Piven Strategy 4

The Cloward/Piven Strategy 5

The Cloward/Piven Strategy 6

Background Articles and Videos

The Decline and Triumph of Classical Liberalism, Part 1

The Decline and Triumph of Classical Liberalism, Part 2

In Obama’s book, Dreams from My Father, a man named Frank is mention. Frank is Frank Marshall Davis, member of the Communist Party an an early mentor of Barack Obama.

Paul Kengor (1 of 3)

Paul Kengor (2 of 3)

Paul Kengor (3 of 3)

Angela Davis interviewed by Julian Bond:  Explorations in Black Leadership Series

Angela Y. Davis

“…Angela Y. Davis (born January 26, 1944) is an American political activist, scholar, and author. Davis was most politically active during the late 1960s through the 1970s and was associated with the Communist Party USA, the Civil Rights Movement and the Black Panther Party. Prisoner rights have been among her continuing interests; she is the founder of “Critical Resistance”, an organization working to abolish the “prison-industrial complex”. She is a retired professor with the History of Consciousness Department at the University of California, Santa Cruz and is the former director of the university’s Feminist Studies department.[1] Her research interests are in feminism, African American studies, critical theory, Marxism, popular music and social consciousness, and the philosophy and history of punishment and prisons.[2]

Her membership in the Communist Party led to Ronald Reagan’s request in 1969 to have her barred from teaching at any university in the State of California. She was tried and acquitted of suspected involvement in the Soledad brothers’ August 1970 abduction and murder of Judge Harold Haley in Marin County, California.

She was twice a candidate for Vice President on the Communist Party USA ticket during the 1980s. …”

http://en.wikipedia.org/wiki/Angela_Davis

Working Families Party: Agendas, Activities, and Alliances

By Richard Poe
Discover The Networks
2005

Democratic Socialists of America

“…The Working Families Party (WFP) is a front group for the radical cult ACORN. It functions as a political party in New York State and Connecticut, promoting ACORN-friendly candidates. Unlike conventional political parties, WFP charges its members dues – about $60 per year – a policy characteristic of ACORN and its affiliates.

According to the party’s Web site, WFP is a coalition founded by ACORN, the Communications Workers of America, and the United Automobile Workers. However, ACORN clearly dominates the coalition. New York ACORN leader Steven Kest was the moving force in forming the party. WFP headquarters  is located at the same address as ACORN’s national office, at 88 Third Avenue in Brooklyn.

“The [Working Families Party] was created in 1998 to help push the Democratic Party toward the left,” noted the Associated Press on March 28, 2000. In pursuit of this goal, WFP runs radical candidates in state and local elections. Generally, WFP candidates conceal their extremism beneath a veneer of populist rhetoric, promoting bread-and-butter issues designed to appeal to union workers and other blue-collar voters, Republican and Democrat alike.

The Working Families Party benefits from a quirk of New York State election law, which allows parties to “cross-endorse” candidates of other parties. Thus when Hillary Clinton ran for the Senate in 2000, she ran both on the Democratic Party ticket and on the Working Families Party ticket. Of the 3.4 million popular votes Hillary received from New Yorkers, the Working Families Party delivered 103,000. …”

http://www.discoverthenetworks.org/Articles/wfpparty.html

Democratic Socialists of America (DSA)

  • Largest Socialist organization in the U.S.
  • Works closely with the radical Democratic Progressive Caucus

At the height of the Cold War and the Vietnam War era, the Socialist Party USA of Eugene Debs and Norman Thomas split in two over the issue of whether to criticize or even denounce the Soviet Union, its allies, and Communism: One faction rejected and denounced the USSR and its allies, including Castro’s Cuba, the Sandinistas, North Vietnam and the Viet Cong, and supported Poland’s Solidarity Movement, etc.  This anti-Communist faction took the name Social Democrats USA. (Many of its leaders — including Carl Gershman, who became Jeane Kirkpatrick’s counselor of embassy at the United Nations — grew more conservative and became Reagan Democrats.) The other faction, however, refused to reject Marxism, refused to criticize or denounce the Soviet Union and its allies, and continued to support their policies — including the Soviet-backed nuclear-freeze program that would have consolidated Soviet nuclear superiority in Europe. This faction, whose leading figure was Michael Harrington, in 1973 took the name Democratic Socialist Organizing Committee (DSOC), whose membership included many former Students for a Democratic Society activists. By 1979 DSOC had made major inroads into the Democratic Party and claimed a national membership of some 3,000 people. In 1982 DSOC merged with the New American Movement to form the Democratic Socialists of America (DSA).

DSA describes itself as “the principal U.S. affiliate of the Socialist International” and ranks as the largest socialist organization in the United States. “We are socialists,” reads the organization’s boilerplate, “because we reject an international economic order sustained by private profit, alienated labor, race and gender discrimination, environmental destruction, and brutality and violence in defense of the status quo.” “To achieve a more just society,” adds DSA, “many structures of our government and economy must be radically transformed. … Democracy and socialism go hand in hand. All over the world, wherever the idea of democracy has taken root, the vision of socialism has taken root as well—everywhere but in the United States.”

DSA summarizes its philosophy as follows: “Today … [r]esources are used to make money for capitalists rather than to meet human needs. We believe that the workers and consumers who are affected by economic institutions should own and control them. Social ownership could take many forms, such as worker-owned cooperatives or publicly owned enterprises managed by workers and consumer representatives. Democratic Socialists favor as much decentralization as possible. … While we believe that democratic planning can shape major social investments like mass transit, housing, and energy, market mechanisms are needed to determine the demand for many consumer goods.”

DSA seeks to increase its political influence not by establishing its own party, but rather by working closely with the Democratic Party to promote leftist agendas. “Like our friends and allies in the feminist, labor, civil rights, religious, and community organizing movements, many of us have been active in the Democratic Party,” says DSA. “We work with those movements to strengthen the party’s left wing, represented by the Congressional Progressive Caucus. … Maybe sometime in the future … an alternative national party will be viable. For now, we will continue to support progressives who have a real chance at winning elections, which usually means left-wing Democrats.”

Until 1999, DSA hosted the website of the Progressive Caucus. Following a subsequent expose of the link between the two entities, the Progressive Caucus established its own website under the auspices of Congress. But DSA and the Progressive Caucus remain intimately linked. All 58 Progressive Caucus members also belong to DSA. In addition to these members of Congress, other prominent DSA members include Noam Chomsky, Ed Asner, Gloria Steinem, and Cornel West, who serves as the organization’s honorary Chair.

DSA was a Cosponsoring Organization of the April 25, 2004 “March for Women’s Lives” held in Washington, D.C., a rally that drew more than a million demonstrators advocating for the right to unrestricted, taxpayer-funded abortion-on-demand.

DSA was also a signatory to a petition of self-described “civil society” organizations that opposed globalization and “any effort to expand the powers of the World Trade Organization (WTO) through a new comprehensive round of trade liberalization.”

DSA endorsed Pay Equity Now! – a petition jointly issued in 2000 by the National Organization for Women, the Philadelphia Coalition of Labor Union Women, and the International Wages for Housework Campaign – to “expose and oppose U.S. opposition to pay equity” for women. The petition charged that: “the U.S. government opposes pay equity – equal pay for work of equal value – in national policy and international agreements”; “women are often segregated in caring and service work for low pay, much like the housework they are expected to do for no pay at home”; and “underpaying women is a massive subsidy to employers that is both sexist and racist.”

In the wake of 9/11, DSA characterized the terror attacks as acts of retaliation for American-perpetrated global injustices. “We live in a world,” said DSA, “organized so that the greatest benefits go to a small fraction of the world’s population while the vast majority experiences injustice, poverty, and often hopelessness. Only by eliminating the political, social, and economic conditions that lead people to these small extremist groups can we be truly secure.”

Strongly opposed to the U.S. War on Terror and America’s post-9/11 military engagements in Afghanistan and Iraq, DSA is a member organization of the United For Peace and Justice anti-war coalition led by Leslie Cagan, a longtime committed socialist who aligns her politics with those of Fidel Castro’s Communist Cuba.

DSA publishes a quarterly journal titled Democratic Left, which discusses issues of concern to the organization and its constituents. The Founding Editor of this publication was Michael Harrington. DSA has also created a youth association called Young Democratic Socialists.

Annual fees for membership in DSA range from $15 to $60 per year. DSA raises additional funds via sales made through its online Book Shop, which features dozens of titles by leftist authors, among whom are Michael Harrington, Barbara Ehrenreich, Cornel West, Todd Gitlin, Stanley Aronowitz, Howard Zinn, Eric Foner, Tom Hayden, Manning Marable, Michael Eric Dyson, and Frances Fox Piven and Richard Cloward.

As of March 2010, some of DSA’s most notable honorary chairs included Barbara Ehrenreich, Dolores Huerta, Frances Fox Piven (co-creator of the Cloward-Piven Strategy), Eliseo Medina (executive vice president of the Service Employees International Union), Gloria Steinem, and Cornel West.

http://www.youtube.com/watch?v=Bk0cQwX6B-I&feature=related

George Soros

“…George Soros is one of the most powerful men on earth. A New York  hedge fund manager, he has amassed a personal fortune estimated at  about $13  billion (as of 2009). His company, Soros  Fund Management, controls at  least another $25  billion
in investor assets. Since 1979, Soros’s foundation network — whose  flagship is the Open  Society Institute (OSI) — has dispensed more than $5 billion to  a multitude of organizations whose objectives are consistent  with those of Soros. With assets of $1.93 billion as of 2008, OSI  alone donates scores of millions of dollars annually to these  various groups. Following  is a sampling of the major agendas advanced by groups that Soros and  OSI support financially. Listed under each category heading are a few
OSI donees fitting that description. …”

“…The Open Society Institute is not the only vehicle by which George  Soros works to reshape America’s political landscape. Indeed, Soros  was the prime mover in the creation of the so-called “Shadow  Democratic Party,” or “Shadow  Party,” in 2003. This term refers to a nationwide network of  labor unions, non-profit activist groups, and think  tanks whose agendas are ideologically to the left, and which are  engaged in campaigning for the Democrats. This network’s activities  include fundraising, get-out-the-vote drives, political advertising,  opposition research, and media manipulation.

The Shadow Party  was conceived  and organized principally by George  Soros, Hillary  Clinton and Harold  McEwan Ickes — all identified with the Democratic  Party left. Other key players included:

  • Morton  H. Halperin: Director of Soros’ Open  Society Institute
  • John  Podesta: Democrat strategist and former chief of staff for Bill  Clinton
  • Jeremy Rosner: Democrat strategist  and pollster, ex-foreign policy speechwriter for Bill Clinton
  • Robert Boorstin: Democrat  strategist and pollster, ex-national security speechwriter for Bill  Clinton
  • Carl  Pope: Co-founder of America  Coming Together, Democrat strategist, and Sierra  Club Executive Director
  • Steve  Rosenthal: Labor leader, CEO of America Coming Together, and  former chief advisor on union matters to Clinton Labor Secretary  Robert  Reich
  • Peter  Lewis: Major Democrat donor and insurance entrepreneur
  • Rob Glaser: Major Democrat donor  and Silicon Valley pioneer
  • Ellen  Malcolm: Co-founder and President of America Coming  Together, and founder of EMILY’s  List
  • Rob McKay: Major Democrat donor,  Taco Bell heir, and McKay Family Foundation President
  • Lewis and Dorothy Cullman: Major Democrat donors

To develop the Shadow Party as a cohesive entity, Harold Ickes  undertook the task of building a 21st-century version of the Left’s
traditional alliance of the “oppressed” and  “disenfranchised.” By the time Ickes was done, he had  created or helped to create six new groups, and had co-opted a  seventh called MoveOn.org.
Together, these seven groups constituted the administrative core of  the newly formed Shadow Party:

  • America  Coming Together
  • America  Votes
  • Center  for American Progress
  • Joint  Victory Campaign 2004
  • Media  Fund
  • MoveOn.org
  • Thunder  Road Group

These organizations, along with the many leftist groups with which  they collaborate, have played a major role in helping Soros
advance his political and social agendas.

According  to Richard Poe, co-author (with David Horowitz) of the 2006 book  The Shadow Party:

“The Shadow Party is the real power driving the  Democrat machine. It is a network of radicals dedicated to  transforming our constitutional republic into a socialist hive. The  leader of these radicals is … George Soros. He has essentially  privatized the Democratic Party, bringing it under his personal  control. The Shadow Party is the instrument through which he  exerts that control…. It works by siphoning off hundreds of  millions of dollars in campaign contributions that would have gone to  the Democratic Party in normal times, and putting those contributions  at the personal disposal of Mr. Soros. He then uses that money  to buy influence and loyalty where he sees fit. In 2003, Soros  set up a network of privately-owned groups which acts as a shadow or  mirror image of the Party. It performs all the functions we  would normally expect the real Democratic Party to perform, such as  shaping the Party platform, fielding candidates, running campaigns,  and so forth.  However, it performs these functions under the  private supervision of Mr. Soros and his associates. The Shadow Party  derives its power from its ability to raise huge sums of money.  By controlling the Democrat purse strings, the Shadow Party can make
or break any Democrat candidate by deciding whether or not to fund  him. During the 2004 election cycle, the Shadow Party raised more  than $300 million for Democrat candidates, prompting one of its  operatives, MoveOn PAC director Eli  Pariser, to declare, ‘Now it’s our party.  We bought it,  we own it…'”

http://www.discoverthenetworks.org/viewSubCategory.asp?id=589

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