Worldwide bailout underway at the Fed.
In the continuing saga of "What are they up to now?", comes this story from Huffpo about the Fed pumping foreign currency into the US money supply. In this way, US banks can pay their foreign...
View ArticleFederal Reseve - Deficit Unsustainable (alternative title: zombies ate the...
The House Budget Committee held a hearing today with just one witness, Federal Reserve Chair Ben Bernanke. As a consequence of this elevated level of borrowing, the ratio of federal debt held by the...
View ArticleHelicopter Ben Keeps His Job and Bloomberg Scores!
So much for the jockeying to get the big Fed job appears to be over.From the New York Times, Obama to Nominate Bernanke to 2nd Term as Fed Chief: President Obama plans to nominate Ben S. Bernanke to a...
View ArticleSenate Banking Chair - Bernanke confirmation not a foregone conclusion
Considering yesterday's amazing victory to obtain an audit of the Federal Reserve as an amendment in a Financial Reform bill passed out of committee, today we have the most amazing report.Senator Chris...
View ArticleSenator Bernie Sanders Puts Hold on Bernanke Senate Confirmation
Senator Bernie Sanders has put a hold on the nomination of Ben Bernanke for Federal Reserve Chair:WASHINGTON, December 2 – Sen. Bernie Sanders (I-Vt.) today placed a hold on the nomination of Ben...
View ArticleBen is In
Bloomberg is tallying up the Senate votes and reporting Helicopter Ben Bernanke is in by a good 66%.Bloomberg yesterday interviewed 53 senators who aren’t on the Banking Committee, which voted 16-7 on...
View ArticleImplausible Deniability of Ben Bernanke
Federal Reserve Chair Ben Bernanke says the Housing Bubble is Regulator's Fault and the Fed had nothing to do with it:“The best response to the housing bubble would have been regulatory, rather than...
View ArticleSenate Has One Standard for Wall Street and One Standard for Main Street
Ryan Grimm of Huffpost is reporting a double standard has formed in the Senate thanks to the Democratic leadership. Apparently when it comes to the confirmation of Wall Street favorite Ben Bernanke,...
View ArticleWe Don't Have Jobs, Fed Will Raise Rates Anyway
We can’t wait until unemployment is where we’d like it to be” or inflation gets “out of control” to tighten creditThe above is a quote from Federal Reserve Chair Ben Bernanke.Gets worse, Bernanke...
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The Fed's Economic Projections and Bernanke Conference
The Federal Reserve FOMC released their updated economic projections and frankly they are weird. GDP estimates were lowered yet the official unemployment rate projections were also lowered. The rule...
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