Archive for the ‘Frank Roche’ Category
Thursday, March 24th, 2011
THE ROCHE RECORD
March 21, 2011
Frank Roche
A RUDDERLESS WHITE HOUSE MISUSING THE MILITARY?
Was the US military issued orders to play third fiddle to the French & the UK and join in on the attack of another sovereign nation involved in civil war? Isn’t one of our allies still taking toll of the damage from a record earthquake and the ensuing tsunami? Isn’t there a related significant nuclear incident? Isn’t there an ongoing debate regarding continuing resolutions to fund the government until Congress can get its act together and pass a budget? Iraq? Afghanistan?
Aren’t our President and his family on vacation in South America?
Only three more questions. Is the executive branch of the US government rudderless? Did the Obama administration adhere more closely to our responsibilities under the UN Charter, Chapter 7, Articles 39-51, rather than to the US War Powers Act? Is the US military being misused in Libya? (more…)
Posted in Democrats, Energy, Foreign Policy, France, Frank Roche, GOP, Libya, Middle East, Military, National Defense, Obama, Obama Administraiton and Policy, Oil Industry, Politics, Radical Islam, Roche Record, Saudi Arabia, U.N. | No Comments »
Tuesday, March 15th, 2011
| March 14, 2011
STANSBERRY’S “END OF AMERICA 33” EXPOSED AS MARKETING PLOY
Frank Roche, Economist
Tea Party patriots and the conservative blogosphere have been abuzz recently over a video describing the end of America. The video, “ The End of America 3”, published by Porter Stansberry of Stansberry & Associates Investment Research, is a dire warning from Porter that America as we have known her will collapse this year, the collapse is already underway, he knows why, he knows how you can personally protect yourself, and he’s happy to share the information. Well, sort of. The information you need to avoid the end will cost you at least fifty bucks.
I’ve recently received emails and phone calls from unnerved Americans asking if I’d seen the video. What I thought of it? And, could this really happen?
Having taken the hour and sixteen minutes to watch the video a few things come to mind. First, he offers nothing new. No new economic insights, no unknown data, no new perspective, no new theories, no new research methodology, no new news of any kind. Second, he connects disparate dots that logically and economically cannot be connected. Third, this is a blatant marketing ploy based on arousing fear.
The premise of his argument is the massive government debt burden built up at the local, state, and federal level has reached critical levels. This will cause a collapse of the US dollar on the foreign exchange market, an end to its’ reserve currency status, and plunge America into social and economic chaos. In the aftermath will be left a third world nation. (more…) |
Posted in Economy, Frank Roche, Roche Record | No Comments »
Wednesday, February 16th, 2011
|
Frank Roche
|
February 15, 2011
ONE WORLDERS AND SUPPORTERS OF BIG GOV’T SMILING TODAY
Another emblematic national asset is about to fall under the control of foreign nationals. The New York Stock Exchange (NYSE) is being taken over by the German stock exchange, Deutsche Boerse. The German group will take 60 percent control of the combined company, leaving 40 percent control to the NYSE. The board will consist of 10 Deutsche Boerse seats and 7 NYSE seats. The Chairman will be from Deutsche Boerse, and the Chief Executive will from the NYSE.
The immeidate concern of those who like this deal are political and national. There was a time when foreign takeovers of US assets caused national debate. While the degree of that concern has clearly dissipated over the decades, such a high profile takeover of a national brand is likely to draw unusual scrutiny by todays standards.
Those in the media, led by CNBC (CNBC has been a front runner in the effort to convince their viewers there isn’t a US economy anymore, there is only a global economy), are quick to jump out in front to tamp down nationalistic concerns through derision by using terms like xenophobic and jingoism to describe sentiments that might lead to objections, and explaining how nationalism has no place in the debate about the efficient allocation of financial resources across the globe. (more…) |
|
|
Posted in American Exceptionalism, Banking, Big Government, Economy, Europe, Frank Roche, Roche Record, Sovereignty, Wall Street | No Comments »
Thursday, February 3rd, 2011
February 2, 2011
by Frank Roche
Chalmers Johnson’s book, “Blowback: The Costs and Consequences of American Empire” was published in 2000. Johnson tells us the title referred to a term adopted by the CIA to refer to “…the unintended consequences of American policies.” Johnson cites examples of “Blowback” in the book including Okinawa, North & South Korea, Iran, Iraq, and China. Watching the video coming out of Egypt today, Egypt may well be added to this list.
The pursuit of protecting American interests, which includes supporting our allies, has for decades involved US policy makers dealing with leaders of countries that are an affront to what America stands for. Egypt, led by President Hosni Mubarak, has been such a country. Since President Jimmy Carter was in office, each US President has lent a helping hand to Egypt, praising her as our ally and an important player in Middle East peace working closely with Israel to keep the Sinai demilitarized. To help maintain balance in the region Egypt has received tens of billions of US dollars in aid ($2 billion per year), mostly directed towards the military. They have an impressive arsenal of American military hardware and the know how to use it.
While we watch the uprising in Egypt with unease, and we hope that a proper democracy will emerge, one cannot deny there also exists the possibility new leaders may oppose America and our role in the Middle East. New leaders may gain control who wish to see the end to Israel, who may be willing to once again challenge Israel militarily. (more…)
Posted in American History, Carter, Dictators, Egypt, Frank Roche, International Affairs, Iran, Iraq - Surge, Israel, Middle East, Military, Obama Administraiton and Policy, Radical Islam, Roche Record | No Comments »
Monday, January 31st, 2011
 |
|
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…)
|
|
|
|
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
|
|
|
|
|
|
|
|
|
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…) |
|
|
|
|
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…)
|
|
|
|
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…)
|
|
|
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 »
