Archive for the ‘Roche Record’ Category
Monday, January 31st, 2011
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CAN WE GET SERIOUS PLEASE, OUR GREAT COUNTRY IS AT RISK
by Frank Roche, Economist
Throughout American history, in good times and bad, policy makers have always faced difficult challenges, choices, and final decisions. American policy makers in 2011 face their own difficult challenges, choices, and final decisions. What I sense is missing today among policy makers is a sufficient degree of seriousness, a sufficient degree of urgency.
If for example you’re one who is interested in America remaining the superpower, interested in America remaining a constitutional republic, interested in America maintaining a very high standard of living, interested in America being the home of the brave and the free, then the list of challenges confronting America is long and complex. Taking on these challenges requires serious people working seriously. Do you sense that among policy makers today?
One only has to look at how DC is handling our massive deficit and debt, China, and uprising in the Middle East to get a sense we are lacking serious leadership dedicated to assuring America’s greatness.
(more…)
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Posted in China, Congress, Conservatism, Democrats, Dictators, Economy, Egypt, Foreign Policy, Frank Roche, GOP, Iran, Keynesian Theory of Economics, Liberalism, Marxism, Military, Obama, Obama Administraiton and Policy, Politics, Progressive Movement, Radical Islam, Roche Record, Spending, Stimulus, Terrorism | No Comments »
Thursday, December 16th, 2010
THE ROCHE RECORD – FRANK
ROCHE, ECONOMIST
December 15, 2010
HOLIDAYS, TAXES, AND SECRETS
SECRETS
The efforts of Julian Assange by way of Wikileaks are not those of a hero in any way, shape, or form. Governments need to have secrets, companies need to have secrets, individual human beings need to have secrets. The belief that there should be no secrets in an open society is naive and dangerous.
There was a time when Americans were proud of being strong, when we knew what it took to remain strong, when we knew the thin veil of civilization needed to be protected lest we all fall back to a standard of living from another time. There was a time when people like Julian Assange would have somehow been quietly taken care of in order to assure America’s national security. (more…)
Posted in Bush Tax Cuts, Economy, Frank Roche, Intelligence, International Affairs, National Defense, Religion, Roche Record, Spending, Taxation, Taxes | No Comments »
Sunday, December 5th, 2010
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December 4, 2010
INDUSTRIAL GIANT GE GETS FED MONEY?
This week the Federal Reserve released documents showing who they assisted during the peak of the financial crisis in late 2008 early 2009. A surprise to many was to find the industrial giant GE on the list and that they borrowed billions from the Fed.
In the midst of the financial crisis, what was a non-financial company doing borrowing money from the Fed?
As most who work in banking and finance know, GE was and continues to be a major player in the finance world. GE Capital, born out of GE’s early days of financing the purchase of kitchen appliances and later industrial equipment, came to contribute the lions share of yearly earnings for their parent GE. Investment banks bent over backwards to get GE Capital as a customer to gain access to the massive capital flows that went through the the finance group. Huge individual bonuses were gained from that capital flow. There were few financial products GE Capital wasn’t trading in.
GE Capital had huge risk exposure when the financial market crisis hit. Since the unit represented such a large share of GE earnings and the cash flow management responsibilities for GE’s industrial businesses, when the financial crisis picked up steam after the Lehman Brothers bankruptcy, GE as a whole was put at risk.
Overnight, GE formed GE Bank which allowed them to gain access to the Federal Reserve short run funding facilities.
This should sound familiar. (more…) |
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Posted in Banking, Bankruptcy, Big Business, Big Government, Economy, Federal Reserve, Financial Meltdown, Frank Roche, Roche Record, Spending | No Comments »
Wednesday, November 24th, 2010
| THE ROCHE RECORD, by Frank Roche, economist |
November 22, 2010
GORE AGREES, CONSULAR ID’S, FONDLING YOU AND ME, PLUS SOME
Gore now agrees about corn ethanol:
Giving yet another speech on foreign soil (Athens this time) critical of the US, Al Gore came clean on corn ethanol. I’ll give him credit for admitting it, though to do so takes a lot of gall and now requires a rebuke by as many as possible. Al Gore now agrees it is a mistake to pursue corn ethanol. He even admits he supported it for political reasons related to his run for Presidency and his need to lock up Iowa and his home state of Tennessee. For those of us who have opposed US subsidies for corn farmers to produce ethanol from the get go, it’s enough to bring a smile to your face it if weren’t such a good example of poor policy and a waste of billions of tax payer dollars. Why has Gore changed his mind? He has come to recognize the energy outputs are not justified by the energy inputs, and he has come to realize it isn’t a good idea to use our food supply for our fuel supply. He admits inflationary pressure on food prices is in good part related to the move towards corn based ethanol. 41 percent of the US corn crop will go to production of ethanol. I’ve always said, if Iowa weren’t the first state on the Presidential election calendar we wouldn’t have corn ethanol. We should recognize the mistake, and bring an end to federal subsidies for corn based ethanol. (more…)
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Posted in Big Business, Big Government, Demographics, Energy, Environmental Issues, Frank Roche, Global Warming, Illegal Immigration, Industry, Radical Islam, Roche Record, Terrorism | No Comments »
Thursday, November 11th, 2010
November 8, 2010
LIBERTARIANS, GOLD BUGS, EXPORT COUNTRIES CONDEM FED ACTIONS
An article was recently forwarded to me by a friend, who like many of us, is concerned about the state of our economy today, and increasingly alarmed by the rhetoric coming from the media, Libertarians, gold standard advocates, and countries dependent on exports to the US.
The article was written by two members of the American Principles Project, an advocacy group for Liberty out of Washington, DC.
Having read the article a few times and visited the website, I’m guessing both authors would be content to be labeled Libertarian. Conservatives and Libertarians share much of the same ideology, which is wonderful. However, when it comes to economics the two groups diverge. The article, “It’s the Money, Stupid,” written by Jeffrey Bell and Sean Filier, reveals the differences.
Libertarians have attached themselves to a failed economic school of thought, the Austrian School. They’ll be quick to quote either Ludwig Mises or Friedrich Hayek in explaining themselves. From this starting point, most of what Libertarians have been taught to believe about monetary policy and the role of the Federal Reserve System (Fed), or the international gold standard and “fiat” currencies are misguided. In this area, Libertarians are much like Conservatives; they are trying to conserve something from years gone by. The Austrian school is an economic philosophy that hasn’t kept pace with the establishment of a mature complex economy that is the United States, and for that matter, much of the rest of the world.
The article took a familiar path: the Fed is unconstitutional, poorly managed and must go. Conservatives enable the Fed out of shortsightedness and poor understanding of monetary policy. And, only paper money backed up by a piece of gold rock found below the surface of the earth is money of value. (more…)
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Posted in Banking, Conservatism, Economy, Europe, Federal Reserve, Financial Meltdown, Foreign Policy, Frank Roche, Glenn Beck, GOP, Libertarians, Media, Roche Record, Rush Limbaugh, Spending | No Comments »
Friday, November 5th, 2010
THE ROCHE RECORD – Frank Roche, economist
November 5, 2010
2012 – THE NEXT STEP BEGINS
IN 2012 WE SOLIDIFY THE GAINS ACHIEVED IN 2010
November 2, 2010 was an historic day for the Republican party nationally and statewide here in North Carolina. A big thanks to all the candidates and a special congratulations to the winners. Gaining control of the North Carolina legislative body after more than a century is the crowning achievement of a lot of hard work by thousands of people, and the determined efforts of state Republican Chairman Tom Fetzer, NC House leader Skip Stam, NC Senate Leader Phil Berger, and dozens of Country Chairs like Claude Pope in Wake Country, or Bill Knight in Orange County.
Of course, without volunteers who offer their labor and donors who offer their treasure campaigns are nothing, so we should all be thankful for their contributions to the successful outcome as well.
At the national level, regaining control of the House and narrowing the Democrat majority control in the Senate should go a long way in disrupting the agenda that Obama, Pelosi, and Reid had in mind for the next two years. As great as was the electoral success this past Tuesday, Republicans do not yet enjoy a veto proof majority. The task we have undertaken to first arrest any further moves down the socialist path the Left has put us upon, and then to get on with restoring America back to her maximum sustainable strength and prosperity, will take more than two years.
In 2012, we must reinforce the conservative troops we are sending to DC in 2010 to assure we complete the task. (more…)
Posted in Congress, Conservatism, Economy, Election, Election 2012, Frank Roche, GOP, NC Politics, Politics, Roche Record | No Comments »
Thursday, October 21st, 2010
| THE ROCHE RECORD by Frank Roche, Economist |
October 20, 2010
COMMUNIST CHINA TAKING STAKE IN US ENERGY ASSETS
The China National Offshore Oil Company, commonly referred to as CNOOC and controlled by the central government, has taken a 1/3 stake (pending US approval) worth $2.2 billion, in the energy assets of a US energy industry powerhouse, Chesapeake Energy from Texas.
Where’s the uproar? I don’t hear many alarm bells? Why haven’t the Tea Party groups made their voices heard on this issue across the nation as we approach November 2nd?
The US government takes a stake in Citibank- Chrysler-and GM, and American’s freak out and proclaim they’re not going to do business with “those” companies, you know “government motors.” (there’s a short book that could be written about that thought process, another time perhaps).
Meanwhile, the Chinese central government continues to buy up US assets, to now include a big chunk of Chesapeake Energy, and the chorus is not the same. Of course, it isn’t just China using “sovereign wealth funds” (translation: government money) to buy up US assets. (more…)
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Posted in China, Dictators, Economy, Energy, Foreign Policy, Frank Roche, Marxism, Obama Administraiton and Policy, Roche Record, Sovereignty | No Comments »
Wednesday, October 20th, 2010
| THE ROCHE RECORD – by Frank Roche, Economist and Patriot |
October 16, 2010
BE POSITIVE – TAKE PRIDE
For those of us engaged in the effort to end the slow decay in the American system that has come from decades of poor public policy in Washington, it wouldn’t be hard to argue we’re motivated by pride. Call it pride in country, pride in our fellow Americans, emblematic pride connected to institutions like the military, successful businesses, or sporting teams and organizations. Whatever, we want to be proud. We want to restore our system so we can once again be unabashedly proud of America. (more…) |
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Posted in American Exceptionalism, Frank Roche, Roche Record | No Comments »
Thursday, October 14th, 2010
THE ROCHE RECORD by Frank Roche, Economist
October 13, 2010
US MUST KEEP IMF AND WORLD BANK AT BAY
If you like the United States Constitution, our independence and unique freedoms, maintaining a strong defense of our borders and interests abroad so we can enjoy the fruits of our labor, then you agree, now is the time to move away from global governing bodies like the IMF and World Bank.
The International Monetary Fund (IMF) was established in 1944 by the member nations of the newly formed United Nations (UN). Its original intent was to manage a fixed exchange rate regime for member country’s. Since the early 1970’s, up until just recently, the role of the IMF has been focused on advising and loaning money to developing countries for the purpose of managing currency problems associated with bad public policy and severe trade imbalances.
The World Bank, was also established in the aftermath of WWII to advise and loan money to poor nations to help develop their economies.
Both international governing bodies have at best a spotty record of success and have lined the pockets of many a dictator, unscrupulous governments, and well connected “businessmen” with tens of billions of dollars.
The formation of the UN, the IMF, and the World Bank were the early efforts of a-national elite thinkers (including Americans) who concluded WWII was convincing evidence that the individual nation state dedicated to a unique geographic boundary with a common language, culture, and lifestyle was the cause of two world wars. These elites believed only the elimination of the independent nation state and the associated patriotism could bring about real peace in the world. (more…)
Posted in American History, Frank Roche, Roche Record, Sovereignty, U.N. | No Comments »
Wednesday, October 6th, 2010
ROCHE RECORD by Frank Roche
October 2010
SMALLER GOV’T HAS CONSEQUENCES NO ONE IS TALKING ABOUT
For all those Republicans and conservatives up for election on November 2nd who are like me and want to see the federal government act within the constraints of the US Constitution, uphold the 10th Amendment affirming states rights, and produce smaller government at the federal and state level, they have some explaining to do. The sooner they start, the better will be their chances of success in achieving their goals.
During my 2010 primary campaign for US Congress I made it a point to make clear to those who listened the logical outcome of that stated above: the near term outlook would involve meaningful economic adjustments and many of our fellow citizens and businesses who have directly lived off of government expenditures will be economically harmed.
Correcting the problems our elected officials have created over the past 40 years has a cost. The idea that the private sector would or could take up the slack right away is a fallacy. It will likely happen, but it will require years, not days.
It wasn’t long ago we had annual federal budgets in the hundreds of billions of dollars. Now with government spending above $3 trillion per year, to bring government spending back down towards the hundreds of billions of dollar of just ten years ago will mean a withdrawal of over two trillion dollars in spending and the additional economic activity it engenders. (more…)
Posted in Big Government, Conservatism, Constitution, Economy, Election, Entitlements, Frank Roche, GOP, Government Waste and Fraud, Medicare/Medicaid, Roche Record, Social Security, Spending | No Comments »
