Archive for the ‘Federal Reserve’ Category

VIDEO – JOHN MCAFEE EXPLAINING HOW POWERFUL THE DEEP STATE IS

Thursday, June 24th, 2021

 

VIDEO – JOHN MCAFEE EXPLAINING HOW POWERFUL THE DEEP STATE IS

American Tycoon John McAfee Found Dead In Prison; Here’s The Chilling Video He Posted Last Year

June 23, 2021

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VIDEO – ECONOMIST CALLS CHINA VIRUS AN ACT OF WAR

Monday, April 20th, 2020

 

VIDEO 

www.youtube.com/watch?v=bWobMCzu1wg

Economist Danielle DiMartino Booth Destroys China – Calls Coronavirus An Act of War in a sit-down with Patrick Bet-David

BIO

Danielle DiMartino Booth Bio Page
Posted: Monday, August 27th, 2018

Danielle DiMartino Booth

CEO and Chief Strategist

Quill Intelligence, LLC

 

DiMartino Booth set out to launch a #ResearchRevolution, redefining how markets intelligence is conceived and delivered with the goal of not only guiding portfolio managers, but promoting financial literacy. To build QI, she brought together a core team of investing veterans to analyze the trends and provide critical analysis on what is driving the markets – both in the United States and globally.

Since inception, commentary and data from DiMartino Booth’s The Daily Feather have appeared in other financial sources such as Bloomberg, CNBC, Fox Business, Institutional Investor, Yahoo Finance, The Wall Street Journal, MarketWatch, Seeking Alpha, TD Ameritrade, TheStreet.com, and more.

A global thought leader on monetary policy, economics and finance, DiMartino Booth founded Quill Intelligence in 2018.  She is the author of FED UP: An Insider’s Take on Why the Federal Reserve is Bad for America (Portfolio, Feb 2017), a full-time columnist for Bloomberg View, a business speaker, and a commentator frequently featured on CNBC, Bloomberg, Fox News, Fox Business News, BNN Bloomberg, Yahoo Finance and other major media outlets.

Prior to Quill, DiMartino Booth spent nine years at the Federal Reserve Bank of Dallas where she served as Advisor to President Richard W. Fisher throughout the financial crisis until his retirement in March 2015. Her work at the Fed focused on financial stability and the efficacy of unconventional monetary policy.

(more…)

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WILL THE 20’S ROAR AGAIN ?

Saturday, January 4th, 2020
THE WALL STREET JOURNAL

Will the ’20s Roar Again?

We are overdue today for another wave of creative thinking about everything—politics, the culture, education and morality. But this time, hold the roaring.

By Daniel Henninger January 2, 2020

If time travel were real, nearly half the U.S. population—and all the Democrats—would ship Donald Trump back to the Roaring ’20s, an era presumably more in sync with his instinct for creative outrage. But voters then would have been as startled by Mr. Trump’s political personality as voters now. Despite the dawn of the Flapper Age, their taste in presidents ran more toward Warren G. Harding, elected in 1920, whom no one would mistake for Donald J. Trump.

Harding’s campaign slogan was “a return to normalcy.” When he died in office 2½ years later, his successor was the uber-normal Calvin Coolidge, who won election on his own in 1924.

Other than the American presidency, though, the 1920s were in no way normal. In the U.S. and much of the world, the decade witnessed a remarkable economic and industrial boom. If we’re going to compare the ’20s then to the ’20s being born this week, an economic footnote is in order about a main cause of the first “roaring.”

When the 16th Amendment created the personal income tax in 1913, the original top marginal rate was 7%. By 1920 it was 77%, in part because of the Great War.

At the urging of Treasury Secretary Andrew Mellon, Congress enacted tax cuts in 1921, 1924 and 1926, with the top rate falling in middle-decade to 25% on incomes above $100,000. Prosperity followed, just as it did after the Kennedy tax cuts in the 1960s, Reagan’s reductions in the 1980s, and today—undeniably—after the Trump corporate rate cut of 2017. As in the 1920s, the consumer is again king, with disposable income available to buy an innovative economy’s extraordinary array of new products.

Pessimists say the Great Depression silenced the 1920s’ roar. It did, and some of its lessons deserve mention.

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MY BRUSH WITH PERSONAL DESTRUCTION – STEPHEN MOORE

Sunday, May 5th, 2019

 

If I remember correctly, wasn’t the unsealing of Obama’s opponent’s divorce papers  in either his Illinois or  U.S. Senate race, lead to Obama’s  win over his opponent? Very  Interesting    The sad state of American politics of personal destruction as conducted by the Left.   Nancy
THE WALL STREET JOURNAL
MY BRUSH WITH PERSONAL DESTRUCTION
By Stephen Moore    Mr. Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks.  He was a senior economic adviser to the Trump campaign in 2016.
May 3, 2019

When President Trump asked me to serve as a member of the Federal Reserve Board, I was honored. I never imagined the storm that would follow. The left and the media instantly launched a relentless campaign against me. Last week a reporter who has covered the Fed for 30 years told me he’d never seen anything like it. On Thursday I reluctantly threw in the towel and asked the president not to nominate me.

I knew that many of my ideas on monetary policy were controversial and outside the box. That’s why the president picked me. My central argument is that economic growth does not cause inflation—an assault on the core belief of the Keynesian economists at the Fed, whose fear of supply-side growth has often misdirected monetary policy, most recently late last year. As someone who worked with Mr. Trump as a senior economic adviser to his campaign, I am thrilled that 3% to 4% growth with stable prices has been achieved, and I believe it can be sustained. I also believe the Fed should stop targeting interest rates and instead focus on a stable dollar by following commodity prices along with other inflation measures as a leading indicator of whether prices are rising or falling.

I was naive. I believed that to be confirmed I would simply need to defend these ideas and my free-market economic philosophy in general. I relished that debate, especially because so many of my harshest critics were completely wrong about the Trump economy.

A majority in the Senate viewed my economic-policy expertise favorably, and my confirmation seemed likely. It helped my case that I had been one of the most outspoken critics of the Fed in December, when it raised interest rates. After a 4,000-point collapse in the Dow Jones Industrial Average, Chairman Jerome Powell early this year backed away from future rate increases and disavowed his December statement that the Fed’s asset sales were on “autopilot.” The market and the economy sprang back to life.

What did me in was not my economic ideas but gutter campaign tactics and personal assaults. I’ve been called an adulterer, a misogynist, a tax cheat, a deadbeat dad, antigay and mentally unfit. A Washington Post editorial warned that I was a “dangerous” pick for the Fed, and a columnist said I could cause a “global financial calamity.” They must imagine I have superheroic powers of persuasion. If appointed, I would have been one of seven Fed governors.

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CONSUMER FINANCE PROTECTION BUREAU OFFICIAL SUES TRUMP OVER AGENCY LEADERSHIP

Tuesday, November 28th, 2017

 
www.wsj.com/articles/showdown-looms-at-consumer-financial-protection-bureau-1511745899

CFPB Official Sues Trump Administration Over Agency Leadership

Leadership contest is the latest battle to control agency’s direction

Leadership contest is the latest battle to control agency’s direction

White House budget chief Mick Mulvaney is the president’s pick to be acting director of the Consumer Financial Protection Bureau.
White House budget chief Mick Mulvaney is the president’s pick to be acting director of the Consumer Financial Protection Bureau. PHOTO: PABLO MARTINEZ MONSIVAIS/ASSOCIATED PRESS

WASHINGTON—An Obama-era official at the Consumer Financial Protection Bureau sued the Trump administration on Sunday night to block budget director Mick Mulvaney from taking control of the agency.

Leandra English, a career staffer appointed Friday to lead the CFPB by former director Richard Cordray, filed the lawsuit in federal court the night before the bureau was set to reopen with dueling temporary leaders vying to take it over. In doing so, she touched off a legal fight that will trigger court interpretations on how different statutes regarding succession apply to the unusual struggle over control of a federal agency.

President Donald Trump asserts he has the power to appoint an acting director, while the departing chief believed the law said otherwise.

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ICON LECTURE SERIES 2016 SPEAKER SCHEDULE

Wednesday, February 17th, 2016
ICON Lecture Series 1016 Speaker Schedule, Chapel Hill, North Carolina

ICON Lecture Series 1016 Speaker Schedule, Chapel Hill, North Carolina

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REINING IN THE FEDERAL RESERVE

Monday, November 23rd, 2015

 

THE WALL STREET JOURNAL

www.wsj.com/articles/reining-in-a-sprawling-federal-reserve-1447978230

Reining In a Sprawling Federal Reserve

The Fed’s greater powers increase the need for close scrutiny of its activities.

By
Jeb Hensarling  Mr. Hensarling, a Republican congressman from Texas, is chairman of the House Financial Services Committee
Nov. 20, 2015
Since the 2008 financial crisis, the Federal Reserve has morphed into a government institution whose unconventional activities and vastly expanded powers would scarcely be recognized by drafters of the original legislation that created it. Regrettably, commensurate transparency and accountability have not followed.
Since September 2008, the Fed’s balance sheet has ballooned to $4.5 trillion, equal to one-fourth of the U.S. economy and nearly five times its precrisis level. And after seven years of near-zero interest rates, the central bank’s so-called forward guidance provides almost no guidance to investors on when rates might be normalized. This uncertainty is a significant cause of businesses’ hoarding cash and postponing capital investments, and of community banks’ conserving capital and reducing lending.
Adding to the economic uncertainty, the 2010 Dodd-Frank law granted the Fed sweeping new regulatory powers to intervene directly in the operations of large financial institutions. The Fed now stands at the center of Dodd-Frank’s codification of “too big to fail.” With respect to these firms, the Fed is authorized to impose “heightened prudential standards,” including capital and liquidity requirements, risk management requirements, resolution planning, credit-exposure report requirements, and concentration limits. The Fed is even authorized, upon a vague finding that a financial institution poses a “grave threat” to financial stability, to dismantle the firm. The Fed, in short, can literally occupy the boardrooms of the largest financial institutions in America and influence how they deploy capital.
The Fed’s monetary policy must be made clear and credible, and its regulatory activities must comport with the rule of law and be subject to public scrutiny. To accomplish this, the Fed Oversight Reform and Modernization Act of 2015, sponsored by Rep. Bill Huizenga (R., Mich.), should be enacted. Here are the main parts of the FORM Act, which was passed by the House of Representatives on Thursday.
In regard to monetary policy, the Fed must publish and explain with specificity the strategy it is following. The Fed retains unfettered discretion to choose the rule or method for conducting monetary policy. The FORM Act simply requires the Fed to report and explain its rule, and if it deviates from its chosen rule, why. Economic history shows that when the Fed employs a more predictable method or rules-based monetary policy, more positive economic outcomes result.

(more…)

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VIDEO – THE BIGGEST SCAM IN HISTORY – OUR MONEY SYSTEM

Thursday, November 5th, 2015

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WHAT’S WRONG WITH THE GOLDEN GOOSE?

Wednesday, April 29th, 2015

 

THE WALL STREET JOURNAL

What’s Wrong With the Golden Goose?

‘Secular stagnation’ isn’t to blame for lousy U.S. growth rates. Obama’s higher taxes and regulatory assault are.

By
Phil Gramm   Mr. Gramm, a former Republican senator from Texas, is a visiting scholar at the American Enterprise Institute
EXCERPT FROM THIS ARTICLE:   Marginal tax rates on ordinary income are up 24%, a burden that falls directly on small businesses. Tax rates on capital gains and dividends are up 59%, and the estate-tax rate is up 14%. While tax reform has languished in the U.S., other nations have cut corporate tax rates. The U.S. now has the highest corporate rate in the world and the most punitive treatment of foreign earnings.

Meanwhile, federal debt held by the public has doubled, so a return of interest rates to their postwar norms, roughly 5% on a five-year Treasury note, will send the cost of servicing the debt up by $439 billion, almost doubling the current deficit.

Large banks, under aggressive interpretation of the 2010 Dodd-Frank financial law, are regulated as if they were public utilities. Federal bureaucrats are embedded in their executive offices like political officers in the old Soviet Union. Across the financial sector the rule of law is in tatters as tens of billions of dollars are extorted from large banks in legal settlements; insurance companies and money managers are subject to regulations set by international bodies; and the Consumer Financial Protection Bureau, formed in 2011, faces few checks, balances or restraints

Since the Obama recovery began in the second quarter of 2009, public and private projections of economic growth have consistently overestimated actual performance. Six years later, projections of prosperity being just around the corner have given way to a debate over whether the U.S. has fallen into “secular stagnation,” a fancy phrase for the chronic low growth seen in much of Europe.

This is just another in a long line of excuses. America’s historic ability to outperform Europe is well documented; we call it American exceptionalism. It has always been based on the fact that the U.S has had better, more market-driven economic policies and our economy therefore worked better. But, as the U.S. economy is Europeanized through higher taxes and greater regulatory burdens, American exceptionalism is fading away, taking economic growth with it. (more…)

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THE FEDERAL RESERVE’S WOEFUL CENTURY

Tuesday, January 7th, 2014

 

THE WASHINGTON TIMES
THE FEDERAL RESERVE’S WOEFUL CENTURY
Today marks the 100th anniversary of the Federal Reserve Act, the history of which mirrors the Affordable Care Act, better known as Obamacare.

Both acts were revolutionary, the first agenda item on each president’s to-do list, no matter that after 1912, when President Woodrow Wilson was elected, a major economic slump punctuated the economy. The Federal Reserve bill, like Obamacare, was intensely partisan. Wilson’s liberal Democrats, who held both houses of Congress, wanted a completely government-controlled system for a central bank and currency, whereas Republicans favored mostly private regulation.

Democrats prevailed, jamming the measure through the Senate by a divided vote of 54 to 34 on Dec. 19, 1913. A conference committee approved it on Dec. 22, followed by a House vote of 298 to 60, with 76 not voting. The Senate passed the conference report on Dec. 23 by 43 to 25, with 27 not voting and one vacancy. Not a single Senate Democrat opposed the conference report, only two in the House, and the president signed it the same day. (more…)

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