Monday, January 25, 2021
I chuckled when I read the Wall Street On Parade (WSOP) article, “Congresswoman Katie Porter Tells the Fed that It’s got a ‘Big Problem’.” She asked Randal Quarles, Vice Chairman for Supervision of the Fed: “The Fed is largely responsible for dispensing the $500 billion Congress provided as a bailout for corporate America – the […]
Anyone remember when our money was backed by gold? Top of the dollar bill said “Silver certificate”? Today our bills say, “Federal Reserve Note”; called fiat currency. Fiat currency is government IOU’s (political promises). The value of fiat money is based on supply, demand and faith in the issuing government. Adam Smith said, “All money […]
In a debate about Obamacare, VP candidate Sarah Palin claimed the legislation would create a “death panel” of government bureaucrats who would decide whether Americans (citing her elderly mother and child with Down syndrome) were “worthy of medical care”. It was a highly controversial subject. Whether it is individuals or businesses, the government should NOT be […]
Chuck Butler recently discussed the probability of default of $300 trillion in global debt. Chuck added, “The Fed always runs to save Wall Street.” Why is that? Why not Main Street? The Federal Reserve website outlines their mission: “The objectives as mandated by the Congress in the Federal Reserve Act are promoting (1) maximum employment, which means all Americans […]
According to people who follow such things, the ancient Mayan calendar predicted that world was going to end on December 21, 2012. That day came and went, and the world is still here, so perhaps the ancient Mayans got it wrong. Or maybe not! Someone on the Internet (where else?) ran the numbers and said […]
Times are chaotic! Historically, when chaos reigns and emotions are turbocharged, there are winners and losers. Despite the stress, winners manage to see things clearly and keep their wits about them. Recently we interviewed John Williams at Shadowstats. He said government unemployment and inflation numbers are bogus. He also tells us: – Worst U.S. Economic Activity Ever Reported […]
Global pandemics and civil unrest don’t seem to impact stock prices, but it remains challenging to find yield in a world of near-zero interest rates. Central banks are doing everything they can to keep global economies from crashing (which is the main reason stock prices are stable), and the result is that yield can’t be […]
I’m red in the face, eye-popping, blood pressure peaking mad! Our country is in a heck of a mess, for the wrong damn reasons! Sadly, some reporters smirked while reporting the Dow capped off the worst first quarter on record, the updated Coronavirus death toll, projections for thousands more and record unemployment claims. The politicization […]
This Has the Potential to Be a Game-Changer Earlier this week, the Federal Reserve rolled out the big guns. The central bank said it would start buying an unlimited amount of bonds. This is a reprise of their QE Infinity policy. The hope was that this news would help quell the panic that has fallen […]
Fed Chairman Jerome Powell’s Strategic Plan 2020-23 tells us: “The Federal Reserve Board’s highest priority is to promote a strong economy for the American people by fostering the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems. “The most terrifying words in the English language are: I’m from the government and I’m here to […]
