Monthly Archives: December 2010

All Legislative Powers Herein Granted

All Legislative Powers Herein Granted

With the executive branch of the federal government making Obamacare headline news once again by issuing regulations regarding end-of-life counseling

Audit the Fed in 2011

Audit the Fed in 2011

Since the announcement last week that I will chair the congressional subcommittee that oversees the Federal Reserve, the media response has been overwhelming. The groundswell of opposition to Fed actions among ordinary citizens is reflected not only in the rhetoric coming out of Capitol Hill, but also in the tremendous interest shown by the financial press. The demand for transparency is growing, whether the political and financial establishment likes it or not. The Fed is losing its vaunted status as an institution that somehow is above politics and public scrutiny. Fed transparency will be the cornerstone of my efforts as subcommittee chairman. …

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2010 Was By Far the Deadliest Year for U.S. Troops in Afghanistan

2010 Was By Far the Deadliest Year for U.S. Troops in Afghanistan

Mark Twain

Mark Twain

Tea Party Hypocrisy on Display?

Tea Party Hypocrisy on Display?

Tea Party support helped coast a number of congressional candidates to victory in the 2010 midterm elections. However, whether those victors will stay true to their alleged Tea Party values remains to be seen. For example, politicians affiliated with the movement have come under harsh criticism for their hypocritical stance on earmarks, as many of the same people who lashed out against earmarks have requested a number of them. …

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Ron Paul frightens a FED Lackey into mulling regularly-held PR Offensives!

Ron Paul frightens a FED Lackey into mulling regularly-held PR Offensives!

….Should Ben Bernanke start holding press conferences?

The idea was raised this morning on “Squawk Box” by Dino Kos, managing director of Portales Partners and former executive vice president of the NY Federal Reserve. He suggested that it might be a way for the Fed chief to “maintain control over the narrative” and strike back at critics of its policies….


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Judge warns of

Judge warns of

Home foreclosures jump in 3rd quarter: regulators

Home foreclosures jump in 3rd quarter: regulators

(Reuters) – U.S. home foreclosures jumped in the third quarter and banks’ efforts to keep borrowers in their homes dropped as the housing market continues to struggle, U.S. bank regulators said on Wednesday.

The regulators said one reason for the increase in foreclosures is that banks have “exhausted” options for keeping many delinquent borrowers in their homes through programs such as loan modifications. …

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NO, I WILL NOT COMPLY! PERIOD.

NO, I WILL NOT COMPLY! PERIOD.

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Will There Be QE3, QE4, QE5…?

Will There Be QE3, QE4, QE5…?

Recently, Ben Bernanke indicated that Quantitative Easing II (QE2) might be followed by QE3, etc. In an interview at the beginning of December, Bernanke was asked, “Do you anticipate a scenario in which you would commit to more than $600 billion?”

Bernanke’s answer was startling. “Oh, it’s certainly possible,” he said. “And again, it depends on the efficacy of the program. It depends on inflation. And finally it depends on how the economy looks.”

The answer is interesting because it not only indicates the possibility that the Federal Reserve (Fed) will purchase more government bonds but also implies that Bernanke thinks that inflation and QE are different concepts, because otherwise his claim would be a meaningless tautology: more inflation depends on inflation….

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