"Cheney pretended that Bush had authorized a shoot-down order, but Cheney now admits that he never did. In fact, Cheney acted as if he was the president on 9/11. Cheney lied about numerous other facts related to 9/11 as well." Continue reading →
"We have the lowest interest rates in 250 years – lower than at any time since the founding of the country – created by the Federal Reserve forcing interest rates to zero in the short term. In addition, we have the Fed encouraging banks to help lower rates through buying Treasuries. On top of this, we also have some $350 trillion of swaps derivatives of interest rates – more than half of all the derivatives out there are interest-rate derivatives. Banks use these swaps to transmit lower rates to other debt instruments based on what can they can get from the Fed. This drives all rates down. We've seen 30 years of declining interest rates." Continue reading →
"Last month, the Treasury set up a unit to explore changes to the Bank's remit amid mounting political pressure for action to boost economic growth. Options include giving the Monetary Policy Committee greater time to bring inflation back to the 2pc target, handing the Bank a dual mandate to target both employment and inflation – similar to that of the Federal Reserve in America – or targeting spending in the economy rather than inflation. The Canadian central banker, who replaces Sir Mervyn King in July, has said that 'considerable monetary policy' is required to take up the slack in the British economy." Continue reading →
"Apparantly Iran's State TV photoshopped sleeves onto Michelle Obama's dress when she was busy propagandizing at the Oscars. How horrible, right? Blatant censorship. Perhaps the neocons are right...the 'force for good' must do battle with 'the axis of evil'. The 'force for good' must (with bombs and tanks) set those poor citizens free. Their government only portrays to them what their government wants them to see. Over on this side of the Earth, where 'the force for good' resides, we have 'freedom of the press' and tolerance." Continue reading →
"This historical context results in North Korea taking the threats of the United States very seriously. It knows the US has been willing to kill large portions of its population throughout history and has seen what the US has done to other countries. In 2003, Libya halted its program to build a nuclear bomb in an effort to mend its relations with the US. Then last year Libya was overthrown in a US-supported war and its leader Moammar Gadhafi was brutally killed. While calling for a world without nuclear weapons, President Obama has instead continued Bush’s plan and has increased the budget for nuclear weapons." Continue reading →
"The spending cuts mandated by the sequester may hamper the United States’s ability to invade countries for absolutely no reason, a Pentagon spokesman warned today. The Pentagon made this gloomy assessment amid widespread fears that the nation’s ability to wage totally optional wars based on bogus pretexts may be in peril." Continue reading →
"The folks at 'Freedom to Travel USA' have filed an amicus brief in the case Refern, et al. v. Napolitano. This lawsuit challenges the TSA’s groping and carcinogenic porno-scanners on the grounds that the Fourth Amendment prohibits such unreasonable searches. This cause was not only lost but buried under a Progressive avalanche about a century ago. Here’s why: 'the TSA claims ‘administrative search authority ... the administrative search does not require probable cause, but must further an important government need, such as preventing would-be terrorists from bringing an explosive device onto a crowded commuter train.'" Continue reading →
"Pursuit of price stability is the one goal that nearly everyone agrees is a central bank responsibility. Yet it is the one on which the Fed and other central banks have failed miserably. Since the Fed's founding in 1913, consumer prices have increased by a factor of 23 times. If the U.S. can extricate itself from fiscal deficits, price stability would be an attainable goal for central banks. Otherwise, central banking is nothing but mythology." Continue reading →
"The supposed 'countervailing power' of Big Government against Big Business turned out to be as genuine as the conflict between 'good cop' and 'bad cop' interrogators. Historian Gabriel Kolko showed that the primary force behind the much-vaunted 'progressive' regulatory agenda at the turn of the 20th century was the regulated industries themselves. Major portions of the New Deal regulatory/welfare state were backed, even drafted, by the most powerful factions of corporate capital. Don’t fall for the line that state functionaries 'work for us.' Take a look at where they worked before they entered 'public service' and watch where they go back to afterward." Continue reading →
"The recovery in the early 1920s is an example of an economy rapidly recovering as government spending and taxes were cut. Another example is 'The Austerity of 1946', which despite Keynesian economists’ predictions of doom and gloom, was in fact was a period of rapid return to relative prosperity following the massive reduction in government spending which followed the end WW II. Given how poorly the economy has fared following the ‘treatment’ proscribed by Dr. Bernanke and Dr. Obama isn’t it time to try a Dr. Rothbard’s natural cure?" Continue reading →