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POPSOn Adopting China's Keynesian Economic Policies Why was Bernanke so eager to accept responsibility for a failure that occurred more than seventy years before he joined the Board? Because otherwise he and the economics profession in general would have had to concede John Maynard Keynes’ claim that a free market system is not self-regulating.
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POPSReplace Western Capitalism With Islamic Economic System?
This is so because, at its core, Shariah is sedition: It explicitly espouses the violent overthrow of all secular governments and constitutions – including those of the United States – in favor of a global Islamic theocracy. The Yerushalmi memo makes clear that Shariah advisors – who play a central role in this industry as it falls to them to determine whether transactions are Shariah-compliant or not – and/or the companies that employ them appear to be involved in one or more of the following: racketeering, anti-trust violations, consumer and securities fraud or material support for terror. Senator Jon Kyl, the Senate's number two Republican and senior member of Finance Committee found the conclusions of the Yerushalmi memo to be sufficiently alarming that in August he sought official reactions to its findings from Bob Kimmitt's boss, Treasury Secretary Henry Paulson, SEC Chairman Chris Cox, Federal Reserve Chairman Ben Bernanke and Attorney General Michael Mukasey.
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POPSTaking Boomers' Last,Late Chance for Growth. <"Giving more money to people when they fail and taking more money away from people when they work doesn't increase work. And the stock market knows it." "An improving economy carries with it the prospects of enhanced profitability as well as higher employment, higher wages, more productivity and more output. Just look at the era beginning with President Reagan's tax cuts, Paul Volcker's sound money, and all the other pro-growth, supply-side policies.">
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POPS Another Bubble Bursts Subprime mortgages were just the beginning. The dollar also plunged along the way against most global currencies, notably the euro, as the bottom chart illustrates. The dollar price of oil and the dollar-euro exchange rate are probably the two most important prices in the world. They represent a huge share of global commerce, sending signals that shape trade and capital flows. When those two prices move up and down so sharply in so short a time -- based more on fear and expectations than on economic realities -- they distort price signals and can lead to a misallocation of resources. Commodity prices have now fallen back to Earth, as the reality of global recession hits home and the Fed can't ease much further. Meanwhile, the euro has fallen from the stratosphere as Europe heads into recession and the dollar becomes a safer haven in a world of fear.
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POPSBailout 2.0 A record 28 million Americans now receive food stamps at a cost to the Government of almost $30 billion a year.
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POPSWho is Kevin Warsh - he is in control of the bailout $ When I first heard about this guy I was impressed that at 35 he was pulled into all this. Now learning that he pretty much was handed the whole thing via his connection through his marriage. Unless of course I mis-understand his background - maybe he married into wealth after making great accomplishments? If you have ALOT of $$ then anything is possible - your pick of education, your pick of career position, etc. The ones who I am impressed with are those that started with nothing or very little and built it into something incredible and then turn around and find ways to give back or help others.
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POPSBush's Brave New (Financial) World, Orwellian Policies
Financial fascism step by step. In case you missed it Bush announced yesterday that the federal government is "taking" a share in the 9 top banks, who were FORCED to sign papers in Bush's office and accept $250 billion in cash (created from thin air and the Bailout plan) and the governments terms, like it or not! (See my clipmark on Great Bank Bailout). Yes, the Federal government "made an offer they could not refuse", mafia style, to these top banks. One of the bank CEOs protested loudly, saying his firm was not in trouble. He was forced to sign anyway , as Bush government makes up the rules (apart from the Constitution) in this Brave New Dictatorship. Mish continues: Bush, Paulson, Bernanke, and others are responding with measures that lead one further down the path of fascism, supposedly to "preserve the system". "9/11 changed everything", ergo, "the financial crisis changed everything"--the same pattern and excuse for gov't control.
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POPSPaulson OUT...Forrest Gump IN and if the puppet BERNANKE is kicked out with the private bank THE FEDERAL RESERVE and replaced by a new people owned reserve bank system.....we can fix this criminal "unpatriotic" money system. Australia is doing it right..check out how their system works
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POPSHave We Reached Bottom? Six months from now, remember Bernanke's comments. Six months ago, Paulson said he thought the worst was behind us.
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POPSFinancial Crisis: Fed Becomes Rogue Power The Fed under Bernanke does whatever it wants. There is little constraints on it by law, being a creature actually outside of government. The "central bank" is actually a consortium of private banks with authority to print money "from thin air", as it states here. The Federal Reserve is no more "federal" than Federal Express. The only reason the Fed Chairman Bernanke went to Congress for a Bailout Plan (by using Treas. Sec'y Paulson to front, and hiding behind Bush) was to cover his hindquarters, and gain "consent" (by fear and coercion) of Congress, and putting Americans on the hook with them. Note the article states that the Fed acted already on its own to bailout Bear Stearns and make other "loans" (print money) without Congress: The Bernanke Fed first invoked rarely used 1930s powers to intervene — with taxpayer backing — in March when it provided a $29 billion loan as part of JPMorgan Chase & Co.'s takeover of Bear Stearns. The Fed is now Czar.
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POPSBernanke, Paulson, Trichet May Act to Unblock Lending (Update1) Rates are also surging in the commercial paper market that many U.S. companies use to finance their day-to-day operations. Yields on overnight U.S. commercial paper jumped 0.94 percentage point to 3.68 percent. `The Federal Reserve must now act as a clearing house'' for banks and ``must also take another bold step: outright purchases of commercial paper, said Bill Gross, manager of the world's biggest bond fund at Newport Beach, California-based Pacific Investment Management Co. Europe's Dow Jones Stoxx 600 Index having its steepest intraday decline since 1987 and emerging markets, until now the locomotives of the world economy, hit particularly hard: exchanges in Russia and Brazil halted trading. One less complicated step would be for central banks to lower rates in concert. Traders are betting that the Bank of England will lower rates at a meeting this week, and that the Fed will cut its benchmark by at least half a point at or before an Oct. 28-29 gathering.
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POPSDid Obama"Out-Warn"on the Mortgage Crisis? No! March'07,his warnings only came when the end-user was at risk.He was at the roots of promoting, demanding,and inspiring the drive to swell home"ownership" numbers and promote unnatural preferences for non-creditworthy borrowers - by ANY methods or means. Head of the line taking Fannie $, and being fully aware that the policies being implemented could NOT POSSIBLY be resulting in the "desired" numbers if they were ethical and business-wise, Obama was SILENT. He only spoke up when it was unavoidable that HIS policies would be coming to a REAL BAD END. And since he had no other choice but to speak up, being a candidate.
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POPSJewish Holiday Holds Up Congress During Financial Crisis Why? Isn't this an "establishment of religion"? This gives some historical background. Apparently this is something fairly new! Is Judaism America's official religion? They have no trouble calling sessions on Sundays. They certainly don't observe any Islamic holidays, or Buddhist holidays, or ....etc.., not that they should. (Christmas used to not be observed by Congress, and is actually a pagan holiday that was "Christianized" by Constantine to unite the Roman Empire). Where is the ACLU on this one? Yom Kippur will be in October as well. It's fair to ask and question the constitutionality of this as it smacks of official endorsement. Methinks AIPAC holds this over Congress who are afraid to resist. As Orwell said, "some are more equal than others" (Animal Farm). The Fed chairman Bernanke is Jewish , who ironically has been the very one stressing the urgency of Congress acting immediately.
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POPS After Bailout, Economy Will Still Be Lousy You'll simply be spared some sort of wipe out. Meanwhile, the economy is likely to continue its down drift, with all the hallmarks of a recession. If strained consumers expecting some kind of immediate relief grow cynical when it doesn't arrive, it could even deepen a downturn as consumer confidence quakes once again. So, do the economy a favor, and curtail your expectations. Here's what the bailout will and won't do, in the areas that matter most to consumers: Housing. Homeowners at risk of foreclosure won't enjoy much of a bailout at all. The plan calls for the government to "encourage" banks to help out borrowers who are in arrears by writing off some of the loan amount or negotiating more agreeable terms. But voluntary programs to help stressed homeowners have been marginally effective at best. The ultimate financial fix would be a fast-forward button that rushed us to the end of the housing bust, which underlies the entire meltdown. But that's beyond the government
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