Great opinion piece on the Federal Reserve Bank by George Will

I highly suggest that you read it.

Quote:

Because Ben Bernanke’s public persona is as mild as milk, the transformation in American governance in which he has participated is imperfectly understood and hence insufficiently deplored. The change is dramatized by two recent developments.

One was the campaigning by several constituencies for and against what supposedly were the two leading candidates — Larry Summers and Janet Yellen — to replace Bernanke as chairman of the Federal Reserve. The Fed can no longer be considered separated from politics.

[....]

The Fed has become the model of applied progressivism, under which power flows to clever regulators who operate independent of political control. The Fed is, however, a creation of Congress, which may not forever refrain from putting a bridle and snaffle on a Fed that increasingly allocates credit, wealth and opportunity.

via George Will: The Fed has become a creature of politics – The Washington Post.

There are some of us, who believe that we should end the fed and go back to the gold standard. I happen to be one of those people.

Trickle down recession

This is what happens when Washington DC scares the living crap out of everyone:

SINGAPORE: Oil prices fell in Asian trade today on signs of weaker US energy demand and as positions hardened in a fiscal showdown in Washington that could push the world’s biggest economy back into recession.

New York’s main contract, light sweet crude for delivery in January was down 16 cents to USD 87.72 a barrel in the morning and Brent North Sea crude for January shed nine cents to USD 108.72.

A weekly US government report released yesterday showed a surge in supplies of gasoline and other products, indicating softer demand in the world’s biggest oil consuming nation.

The supplies of distillates, which include diesel and heating fuel that are closely watched at the onset of winter, rose by three million barrels, while gasoline inventories leaped by 7.9 million barrels, five times more than forecast.

“Oil prices fell… after data showed a huge increase in gasoline stockpiles in the United States last week,” Phillip Futures said in a market commentary.

The political impasse in Washington over avoiding mandatory fiscal cliff of tax increases and spending cuts in January that may toss the US economy back into recession was casting a cloud on sentiment.

via Oil prices down in Asian trade – The Economic Times.

This is what happens when you scare the living crap out of everyone with a chicken match. If you are invested in oil, get out while you can. On the other hand, gas prices are going to come down and for we middle class, that is a very good thing. But, for those in the market, it sucks. Good time to get out of futures and get into gold or something.

Oh yes, and the Democrats are owning this one too.

Movie: The Crash of 1929 & The Great Depression

There are a good deal of parallels between this and what is going on now in this country.

It could and most likely will happen again.

Enjoy this six part series by PBS on “The Crash of 1929 & The Great Depression”:

GM’s jobs news is nothing more than a ruse

Great and wonderful news, right? Wrong.  Just another bogus headline from a company that is about ready for bankruptcy.  This story comes via MLive.com.

General Motors Co. and the state are expected to announce today that GM will create 2,000 new jobs in Michigan, beginning with up to 1,500 at a new information technology innovation center in Warren.

The automaker and the Governor’s Office are expected to make formal announcements later today.

It’s unclear where GM would add the other 500 jobs, but the state says the innovation center is the first of three projects the company will announce.

GM will invest $300 million combined for the three. The state said GM plans no major investment spending on the information technology center; it will be housed in an existing building undergoing renovation on the Warren Tech Center campus.

The center will hire 1,500 new employees within four years and will add to information technology employment already in Warren, Randy Mott, GM’s vice president of information technology and chief information officer, said in a Friday interview.

via GM to add 2,000 jobs in Michigan | The Detroit News | detroitnews.com.

This is where I am going to get accused of sounding like a Democrat or something worse.

This headline is the biggest stinking joke, since the election Barack Obama. These jobs above here? There are not jobs that anyone could do, you know, like me? These jobs are one that would need some serious degrees —- none of which I honestly have at all. So, these are not 2000 jobs for the public, like labor jobs; as the labor jobs are protected by the unions. These are tech jobs that will end up being filled by immigrants, legal or otherwise from foreign countries; who have the degrees to get these jobs. The rest will go to protected minorities, who happen to have those degrees as well.

I just have to ask aloud; how much of this investment, came from the taxpayers dollars that ended up bailing out this failed business? I really do not know if I really want to know the answer to that or not. However, what I will say is this here; the local Detroit media needs to stop with the dishonest headlines and get out of tank for the big three.  I mean, do not get me wrong, I want to see General Motor succeed, as their success personally affects my family, namely my Father, who retired from that company after 31 years. But, when I see dishonest headlines like this, it disgusts me. People scanning through, think GM is mass hiring workers for the plants. Which they are not, they are hiring salaried employees, that they really do not need and doing this, will most likely make them go broke again.

It is time, that the local Detroit media started telling the complete truth about the big three.

Mob of black teens overrun a Detroit gas station and rob it

Please note: This report is not about racial hatred or bigotry; this is about the realities of living in Detroit and the out of control black hoodlums that control that city and the incompetent and racially biased Police that supposedly protect that god-forsaken city. 

—-

This is a personal story for me, I live in the southern suburbs of Detroit. I grew up on the southwest side of Detroit, Michigan. I remember what southwest Detroit was like when I was a kid in the 1980’s. I also know what southwest Detroit is like now; and believe me, it is not any better. I saw this story over on Joseph Farah’s WorldNetDaily.com, and I thought, “You have got to be kidding me!” But, not they were not, I checked and sure enough this is a ongoing problem. I know right where this station is, believe it or not and yes, that is a very rough part of Detroit and personally would not want to live or work over there at night.

Here is the news video report from WND.com:

Story Quote:

Even the old-timers in Detroit never have seen anything like this: A mob of 40 black people moved into a convenience store and will not leave.

They say they now own it. They eat. Smoke. Cuss.Threaten. Spit. Rob. Sell drugs. All on video.

Police, ministers, neighbors, the store owner and just about everyone else seems powerless to stop them.

“It’s a Bad Crew gas station,” said one of the mob to the local Fox affiliate. “If you don’t know what that is, I can’t even tell you.”

The owner calls police, but nothing happens. The police “come here and then they leave. Two minutes later they (the mob) are back.”

Earlier this month, members of the Perfecting Church, one of Detroit’s largest black congregations, counseled the members of the mob to stop their evil ways

Absolutely disgusting. :mad:

Here is a link to an earlier report on the same gas station with Church people pleading with black thugs to pweeeeze stop robbing this story. :roll: Via Fox 2 Detroit:

Fox 2 News Headlines

Quote:

DETROIT (WJBK) –
A Detroit man says his business is being held hostage by a group of teenagers who continually loiter inside and out of his gas station.

“There’s a lot of good people around here,” said the station owner, who wished to remain anonymous. But now, those good people aren’t coming as often to the Marathon station along W. 7 Mile Road on the city’s west side.

“This is a Bad Crew gas station,” said one teen loitering out front on Tuesday. When asked what that meant, he said, “If you don’t know, I can’t even tell you.”

Surveillance video obtained by FOX 2 shows as many as a dozen teens hanging out inside the store, smoking cigarettes, sitting on countertops and even spitting into sinks.

The owner says as many as 40 teens can be hanging out in front of the station at any time. “Destroying my store. Destroying my business,” said the owner.

He says his clerks are too frightened to take action against the teens and he’s worried that the loitering could lead to violence.

Detroit police have been called numerous times to the store, but the owner says right after officers disperse the crowd and leave the scene, the teens returns to their normal posts.

Leslie Cunningham, who lives nearby the station, says members from Marvin Winans’ Perfecting Church have recently been to the station to talk to the young people. “It’s out of hand,” said Cunningham. “We try to raise young people around here that they would be concerned and care about their area and this is what we have to contend with.”

The owner, and father of four, says he would walk away from his business if he didn’t owe so much on it.

Okay first of all; the only language that this young black thugs understand is the language of an end of a gun. If that station hired some ARMED guards, with say, a few AR-15’s modded for automatic fire, I tend to believe that these thugs would find somewhere else to hang out and rob. The only mentality that these black thugs understand is “survival of the fittest.” Because of this problem; this business owner is going to have to make some serious adjustments.

Again, this is not about racial bigotry or hatred. It is about reality. The reality is this: the reason why this is not being dealt with is because, when you have a black police force, black youth, who are committing the crimes are not going to be dealt with at all. Because in ghetto culture, “brother don’t cut another brother!” If you know what I mean. This credo dates back to the days of slavery, which when one slave would do something wrong, and another slave saw it; he had two choices, rat his fellow black brother out or keep his mouth closed. Most chose the latter. This is why you have black thugs running wild in the streets of Detroit. Because quite frankly, the Detroit cops do not care. As long as they are not murdering anybody; the police attitude is let them go.

Of course, the standard disclaimers and excuses will be rolled out by the City of Detroit. Ones like, “We do not have enough police.” “We don’t have enough money to have police around at all times.” But we who have lived in the city of Detroit. We know. That the fact is that minorities; black and latino, can do pretty any darned thing that they want to, as long as no one gets killed and the city police will not do anything about it. Now, if you are a white man, and did something like this — oh yes, your butt would be in jail in no time flat! But if you are black or latino, it is just a normal part of living in the city.

Just in case someone happens to read this, from say the city of Detroit or one of residents. I have one thing to say to you

PROVE ME WRONG!

Also too, as I was finishing this story. The irony hit me.. We have police who are so damned eager for a police state. Except, when it comes to stuff like this here. Blacks out of control? No problem! But, you let a white man get a little out of hand and it is the police state army AKA as the swat team — to the rescue!

Drop in voter registration in Ohio

Despite what has happened locally here and how I feel about it; I must continue on writing and blogging about what I consider to be important.

It seems that in Ohio, there has been a decline in voter registration, especially in Democratic Party strongholds. This is also signaling a national trend. Here is the Story and Video via Fox News Channel:

The Video:

The Story:

“Don’t boo, vote,” President Obama often says in his stump speech whenever crowds boo a Romney plan.

The off-hand call to vote may be by design. It comes amid a precipitous decline in Democratic voter registration in key swing states — nowhere more apparent than in Ohio.

Voter registration in the Buckeye State is down by 490,000 people from four years ago. Of that reduction, 44 percent is in Cleveland and surrounding Cuyahoga County, where Democrats outnumber Republicans more than two to one.

“I think what we’re seeing is a lot of spin and hype on the part of the Obama campaign to try to make it appear that they’re going to cruise to victory in Ohio,” Cuyahoga County Republican Chairman Rob Frost said. “It’s not just Cuyahoga County. Nearly 350,000 of those voters are the decrease in the rolls in the three largest counties, Cuyahoga, Hamilton and Franklin.”

Frost points out that those three counties all contain urban centers, where the largest Democrat vote traditionally has been.

Ohio is not alone. An August study by the left-leaning think tank Third Way showed that the Democratic voter registration decline in eight key swing states outnumbered the Republican decline by a 10-to-one ratio. In Florida, Democratic registration is down 4.9 percent, in Iowa down 9.5 percent. And in New Hampshire, it’s down down 19.7 percent.

“It’s understandable that enthusiasm is going to wane a little bit from that historic moment (in 2008),” says Michelle Diggles, the study co-author and senior policy adviser for Third Way. “You can only elect the first African-American president of this country once.

Of course, there are other reasons why people are just not happy anymore with the Democrats:

One Democratic Party consultant told Fox News that independents in Ohio may be leaning Democratic – an effect that may be tied to the bailout of Chrysler and GM. One of eight people in Ohio work in businesses directly tied to the auto industry. The state has been carpeted with Obama ads that point to his bailout of the industry and it’s managed bankruptcy.

I do not mean to toot my own horn; but in this case, I must. I predicted that stuff like this would happen on my old blog. When the bailouts happened, and when the healthcare bill was pushed through. The truth is Independents are simply running away from Obama. Another thing too that this report did not cover; is that some Democrats are simply not happy with the Obama Administration. This is for a number for reasons: The continuation of Bush’s polices on the war on terror and the war is one. The failure to close the prisons in Gitmo is another. The continuing of the war in Afghanistan is another. Also too, Ohio is also a union State and when Obama’s chief of staff at the time, said “F*** the big three!”, many in Ohio heard about that too. This all makes for a unpopular President.

Also too; the economy in Ohio, here in Michigan; and nationally, just plain sucks. There are many small businesses in Ohio, many of whom are faithful Democrats; and they are just looking at their bottom lines and are looking at this President and wondering, “What on earth are they doing to us?” To be fair, it is not all of Obama’s fault. The Federal Reserve with it’s QE1, QE2 and now QE3 is not helping the situation at all. When the fed prints more money, inflation happens, which drives the prices of everything up and this, in turn, hurts businesses. Which, in turn, hurts the economy. Bill Clinton learned this lesson early on, and made adjustments. Jimmy Carter and this President, did not. For that, they are paying a price at the polls.

I should also mention that this current foreign policy debacle in Libya, and Egypt and the rest of the Arab World is also weighing heavy on the minds of people as well. As it was in 1979, with the Iran hostage crisis. Now, Iran is being a problem again. Which is very ironic.

History has such a strange way of repeating itself.

The Federal Reserve Bank continues to screw America into the ground

Here is the Fed chairs announcement:

The Story via CNN.COM:

NEW YORK (CNNMoney) — The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy.

The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.

The Fed is wasting no time. The purchases begin Friday and are expected to add up to only $23 billion for the remainder of September.
The bond-buying policy “should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative,” the Fed’s official statement said.

Meanwhile, the Fed will continue its existing policy known as Operation Twist. Together the two programs will add $85 billion in long-term bonds to the Fed’s balance sheet each month.

Now what effect will this have on our money supply?

Ryan W. McMaken writing over at Lew Rockwell’s blog correctly observes:

The effect of this will be:

  1. Even less saving going on than is happening now. Why do the lending institutions need more liquidity? Because there are no real life loanable funds in the first place. No one is putting money in depository institutions, for example, because interest rates are at rock-bottom levels, but also because people have no excess money to save. So, the Fed is creating fake loanable funds through the purchase of the MBSs. Much of this will probably be newly-created money.
  2. It will maintain the focus on consumer spending rather than investment. The idea is to keep people spending on real estate. Thus, less will be spent on business investment.
  3. People will incur more debt.

We’ve heard for years from some incorrigible economists that what we need is the Fed to pump up the real estate market to get people spending again. Their answer is: more debt, more spending, less savings and investment.

This is what has been happening for years to no avail, of course, and the Fed is now just turning it up a notch. I’m sure recovery is right around the corner.

The definition of insanity/Keynesianism: Doing the same thing over and over and expecting a different result.

A-farking-men. This is what happens, when you elect the same very idiots, who screwed the housing markets squarely into the ground.  People that voted for this sort of Government, get exactly what is coming to them and the sort of Government that they voted for. Who the heck ever heard of printing money, that you do not even have to print? It is the textbook case of utter insanity.

I will say this; if Mitt Romney loses this election and the way recent events have turned out, he just might lose —- and this Nation goes into the crapper, because Conservatives and the Republican Party decided to pick a safe candidate. Then the Republican Party should be shut down for good and a new Conservative Party formed. Others have said it, I know and they are absolutely correct.

This stuff right here is the very reason why I hung it up with the Democratic Party and stopped voting for them and supporting them. I am not a millionaire or even someone with any sort of money at all. Hell, I have been unemployed for 8 damned years. However, I do know stupidity, when it see it; and it is on full display here.  Only insane people would do stuff like this, and try to rev up the economy. The solution is to let the free-market work and do its job, not stick a statist finger in it.

Also too; as much as I am not a big fan of weaving ads into my blog postings. I believe this one is important. This would be a good time as any to get into Gold, Silver and other metals. I deal with two companies that sell the stuff. Their banners are below and they both come highly recommended.

They are:


GoldSilver.com

and…:

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Current Prices:




It would be absoutely insane not to get into at least some sort of Gold or other precious metal investment.

 

Others: Michelle MalkinNewsyGuardianLewRockwell.com Blog and Real Time Economics — Blogger Roundup at Memeorandum.com

Chuck Baldwin minces no words about Paul Ryan

I have to like Chuck Baldwin, he does not mince words:

It has happened again. We go through this every four years, and every four years the vast majority of “conservatives” fall for it. This is such a broken record. What did Forrest Gump say: “Stupid is as stupid does”? And wasn’t it P.T. Barnum who said, “There’s a sucker born every minute”? Well, here we go again.

Neocon RINO George H.W. Bush picks “conservative” Dan Quayle. “Conservative” G.W. Bush picks neocon RINO Dick Cheney. Neocon RINO John McCain picks “conservative” Sarah Palin. Now, neocon RINO Mitt Romney picks “conservative” Paul Ryan. As long as there is one “conservative” on the ticket, mushy-headed “conservatives” across the country will go into a gaga, starry-eyed, hypnotic trance in support of the Republican ticket. I’m convinced that if Lucifer, himself, was the GOP Presidential candidate, he would get the support of the Religious Right and Republican “conservatives” as long as he selected a reputed “conservative” to join his ticket. And, by the way, the notable “conservative” wouldn’t think twice about joining such a ticket, either, I’m convinced.

Let’s just get this on the record: since 1960, there have only been two Presidential nominees (from the two major parties) who were not controlled by the globalist elitists. One was a Democrat, John F. Kennedy; the other was a Republican, Ronald Reagan. Kennedy was shot and killed; Reagan was shot. Every other President, Democrat or Republican, has been totally controlled, which is why none of them have done diddly-squat to make a difference in the direction of the country. On the issues that really matter, Mitt Romney and Paul Ryan are just more of the same!

via Chuck Baldwin — Paul Ryan: More Of The Same.

He goes on to say that Ron Paul is the only one; and I disagree with that. However, I will say this; he is right about Romney and Ryan. Which is I am voting for:

Goode/Clymer in 2012

He will not win the election

But voting for anything else is simply Anti-American

Click here to Donate

 

 

Video: Two interesting videos on Gold and Silver

If you happen to believe this is a blog posting to try and promote some income for myself….you would be right! ;) :D :P :)

But seriously, I think these videos should be watched by many.

…and now for the kicker:

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Click the banner for information on how you can get into Gold and Silver before prices go up:


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