Benjamin S. Bernanke – Chairman, Board of Governors, Federal Reserve System
Donald L. Kohn – Vice Chairman, Board of Governors, Federal Reserve System
Stephen Friedman – Chairman, Board of Directors, Federal Reserve Bank of New York
Timothy F. Geithner – Secretary, United States Department of the Treasury
Gary Locke – Secretary, United States Department of Commerce
Barney Frank – Chairman, United States House Committee on Financial Services
Lawrence H. Summers – Chairman, National Economic Counc… Continue
The government’s efforts to save the economy have met to date with mixed results. On the positive side, the larger banks have shown profits, with even Citigroup producing a profit of sorts. On the negative side, unemployment is increasing and underemployment is skyrocketing. The media has termed this the new normal.
The New Normal, modest GDP growth and rising unemployment, stems from the failure of government to understand basic economics. The economic equivalent of Boyle’s Law is that you can… Continue
The Conservative mantra of the day blames the current financial crisis on the government’s over-regulation of an otherwise sound banking system. They want you to believe that the crisis stems from an intrusive government forcing lending standards lower by government fiat, namely the CRA. While the government is at fault here, the government's intervention in the banking system is only a small component of a much larger problem.
People think for a second. The entire sub-prime market is only 500… Continue
"Especially with Democrats seeing electoral losses in governors' races in New Jersey and Virginia on Tuesday, it's time for more to be done on the jobs front. It's increasingly clear that the stimulus act from last February was both too small and poorly designed (though it was responsible for most of last quarter's growth). Observers – like me – who call for more federal aid to drastically cut state budgets, a jobs tax credit and even targeted investments in future industries may sound like b… Continue
Originally posted on the Conservative Herald Blog
In his best selling book, “Liberty and Tyranny – A Conservative Manifesto”, Mark Levine describes an economic theory called creative destruction.
There are times when the Statist interferes with the free market to try to stave off what the late economist Joseph Schumpeter, among others, described as creative destruction. As he explained,
Capitalism…is by nature a form or met… Continue
Added by Bill Brown on October 17, 2009 at 5:02pm —
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A friend went to hear Charles Krauthammer. He listened with twenty-five others in a closed room. What he says here, is NOT second-hand but first. You would do well to read & pass this along to EVERYBODY that loves his country. This is VERY serious for the direction of our country. The ramifications are staggering for us & our children.
To my friends and associates:
Last Monday was a profound evening, hearing Dr. Charles Krauthammer speak to the Center for the American Experiment. He is… Continue
According to the Bureau of Economic Analysis, government wage and salary disbursements were up $4.3 billion dollars in May, 2009 and up an additional $2.8 billion dollars in June, making government the only sector of the government which is growing! The wages and salaries of government workers is the only segment of the economy which has been steadily increasing throughout the economic crisis. Unemploymen… Continue
"Social Security, Medicare-Medicaid, defense spending and interest on the national debt now account for 75 percent of all federal spending. They're on track to one day gobble up the entire budget.
Even if everything goes just right for the administration — the economy recovers, new jobs sprout, housing markets rebound and Congress passes some variation of Obama's health care proposals without sending deficits soaring further — the federal government will still find itself in a deepening… Continue
Is any one feeling the effects yet?
Yes, the stock market is up. Home sales are up the last 3 months - though housing prices are still down 17% from last year. I can see road construction all over where I live.
But unemployment is still too high.
The best economic program on the individual level is a job.
38% of Americans in a poll out today say the economy is their number 1 concern and the primary responsibility of effective government.
The criticism of the Obama economic stimulus package… Continue
IF THIS ISN"T AN ARGUMENT FOR FISCAL RESPONSIBILITY - NOTHING IS!!!US 'exposure to crisis $23.7tn' BBC News
"The total exposure of the US government to the financial crisis could hit $23.7 trillion (£14.3tn), according to a watchdog report.
Neil Barofsky, overseeing the Troubled Asset Relief Programme (Tarp), made the estimate in prepared remarks to a House of Representatives committee.
The worst-case estimate represents the maximum exposure if all parties offered support requ… Continue
http://dcrogue.blogspot.com/2009/07/its-all-about-benjamins-and.html
The polls are out this week and President Obama's approval rating has dropped - it's still at a decently healthy 56%, however as the economy continues on its current course and the average consumer still finds his/her pockets empty, we can expect the rating to continue on this course.
Pollsters are pointing at roaming support from "Independent" voters as the reason for the declining approval rating. Apparently they care about… Continue
Dr. Mary Ruwart has a plan that would reduce healthcare costs by 80% overnight... without costing taxpayers $2 trillion. So why isn't anyone talking about this?
"The politicians tell us free market health care doesn't work, but we haven't had a free market in decades."
Details here: http://bytestyle.tv/node/46Continue
Sunday, May 24, 2009
Rasmussen Reports
On Sunday, the Rasmussen Investor Index dropped four points, reversing a four point gain on Saturday. At 70.9, investor confidence is down seven points from a week ago and seven points from a month ago.
The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, lost two points on Sunday. At 69.0, consumer confidence is down five points from a week ago, down two points from a month ago, and at the lowest level re… Continue
Added by Amy Eldred on May 24, 2009 at 10:16pm —
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Originally posted on America, You Asked For It!.
The British think tank, The Institute of Economic Affairs, released a study that pins the blame for the worldwide financial meltdown on government failure, not market failure. You read it correctly. The 14 leading economists who authored the report "exp… Continue
It is hard to believe that 100 days have passed since Barack Obama was inaugurated the 44th President of the United States. The President assumed office in the middle of a severe economic crisis, the likes of which the United States has not experienced since the Carter Administration. I will be the first to admit that President Obama inherited a difficult situation that any President would find difficult to overcome. However, he has not risen to the occasion. When Obama was elected there was a l… Continue
And the numbers are getting massive. (I'm not going to use numbers. Just a bunch of examples. Try to keep up.)
Sure Obama is great. Great senator. (Well, better than Burris.) Great politician. (Well, better than McCain.) Great orator. (Well, better than just about anybody since MLK himself.)
But remember the Peter Principle. Obama has been promoted to his level of incompetence.
Obama is messing with every good thing that comes out of recessions. It's like a forest fire. Sure, you can put it o… Continue
Blast Obama and Napolitano for Opposing Workplace Enforcement
Earlier this week, Immigration and Customs Enforcement officials conducted their first workplace raid of the Obama Administration. ICE arrested 28 illegal aliens working for an auto plant in Washington state. But instead of supporting ICE, Department of Homeland Security Secretary Janet Napolitano