If Barney Frank has his way, Bernanke & company will continue to do as they please. Here’s Frank’s plan.
Archive for the Category » Federal Reserve «
September 01st, 2009 | Author: akagaga
Category: Bernanke, Federal Reserve, Ron Paul, economics
| Leave a Comment
August 03rd, 2009 | Author: akagaga
As of July 30th, Ron Paul’s “Audit the Fed” HR 1207 has 279 cosponsors in the house, the senate version S 604 has 20 cosponsors, and 75% of Americans surveyed by Rasmussen support it.
Ben Bernanke, of course, isn’t so fond of the idea.
So I thought I’d present the opposing viewpoints, one after the other. If this were American Idol, who would you vote for?
Category: Bernanke, Federal Reserve, Ron Paul, economics
| 3 Comments
April 05th, 2009 | Author: akagaga
If you’d like to understand what’s happening with our economy – in just one page – go read this article by Pat Buchanan. Here’s an excerpt. [And, yes, the Fed should die.]
The “forgotten depression” of 1920–21 was caused by a huge increase in the money supply for President Wilson’s war. When the Fed started to tighten at war’s end, production fell 20 percent from mid-1920 to mid-1921, far more than today.Why did we not read about that depression?
Because the much-maligned Warren Harding refused to intervene. He let businesses and banks fail and prices fall. Hence, the fever quickly broke, and we were off into “the Roaring Twenties.”
But, the Fed reverted, expanding the money supply by 55 percent, an average of 7.3 percent a year, not through an expansion of the currency, but through loans to businesses.
Thus, when the Fed tightened in the overheated economy, the Crash came, as the stock market bubble the Fed had created burst.
Herbert Hoover, contrary to the myth that he was a small-government conservative, renounced laissez-faire, raised taxes, launched public works projects, extended emergency loans to failing businesses and lent money to the states for relief programs.
Hoover did what Obama is doing.
Category: Federal Reserve, bailout, economics
| Leave a Comment
March 21st, 2009 | Author: akagaga
It does not require a majority to prevail, but rather an irate, tireless minority
keen to set brush fires in people’s minds.
-Samuel Adams
- CBS news poll: 53% disapprove of the government giving money to banks and financial institutions
- Gallup poll: 60% oppose the federal government taking steps to help prevent major Wall Street investment companies from failing
- Rasmussen poll: 54% say no to all, given the choice between federal bailouts for the auto companies, the finance industry and financially trouble homeowners or no bailouts
Given that the Washington crowd continues to pour money out by the trillion, ignoring the clear will of the people they are supposed to represent, I think this constitutes a clear case of taxation without representation.
According to the First Amendment, we have the right peaceably to assemble, and to petition the Government for a redress of grievances. And some people have already done it:
Is it time? Have you finally had enough of Washington power games? Are you ready to do something about it besides talk? Then join a Tea Party near you.
There are grass-roots movements all over the country at various times and places. Here in New York, Fresh Tea Daily is keeping track of events scheduled for April 15th – you know, tax day! As of this moment, there are events listed for Albany, Fishkill, Gardiner, New York City, Rochester, and Staten Island, each with their own facebook page where you can get details and sign up.
If you absolutely can’t do the 15th, then do a google search and find one in your area on a different day.
If you just can’t attend an actual protest, you can still get the T-shirt – or the bumper sticker.
And if you don’t have enough money to buy a T-shirt or a bumper sticker, you can still participate. Another group is mailing tea bags to Washington, DC, but they want them all mailed on April 1st, to make sure they get there by – you guessed it – the 15th.
So you are out of excuses. If you want the government to stop giving money away, pick one of the above and just do it.
Category: Federal Reserve, Tea Party, economics
| 2 Comments
Recent Comments