A surprising headline in a mainstream publication, “Time to Close the TSA” hit the Boston Globe yesterday. What makes it unusual is that even the most critical articles about federal programs tend to focus on “reform” or “fixing” some agency or program. But the truth is, “reform” usually just means “give them more of your money.” From…
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CHICAGO (Nov. 9, 2015) – For the first time, thousands of people will be able to buy marijuana for medical purposes, legally, under state law in Illinois today. This represents another step toward nullifying the federal ban on cannabis in practice in the Land of Lincoln. Illinois legalized marijuana for medical use more than a two years ago,…
"Investors who refused to take the speculative bait may have been the first casualties of the Fed’s policies. But now, it is investors who remain fully invested in obscenely overvalued equities and junk credit that have become the unwitting dupes in this game. If the Fed cannot force people to abandon saving behavior with zero interest rates, some members of the FOMC have openly talked about driving interest rates to negative rates to 'stimulate' spending. This is not economics, it is megalomaniacal sociopathy. Centuries of economic history warn that this speculative episode, too, will end in a collapse." Continue reading →
"The creation of the Federal Reserve System in 1913 was the re-establishment of the oligarchs' lender of last resort. That meant that the federal debt would become the foundation of the entire economy: debt purchased by the central bank to balloon the monetary base. To pay off the debt would create mass deflation and depression. The oligarchs now have immunity. Congress will not order an independent audit of the FED. The model is the Bank of England. It has been the chief insurance agency of the Anglo-American oligarchy ever since 1694. The 'Glorious Revolution' of 1688/89 was in fact the symbolic triumph of the oligarchs over the king." Continue reading →
"As the market now diligently calculates the suddenly surging odds of a December rate hike, here's Yellen with a preview of what will happen once the rate hike cycle is aborted, just as it was aborted in Japan in August of 2000 when the BOJ also decided to send a signal how much stronger the economy is by hiking 25 bps, only to cut 7 months later and to proceed to monetize not only all net Japanese debt issuance a decade later, but to hold half of all equity ETFs. The good news: YELLEN SAYS SHE DOESN'T SEE NEED FOR NEGATIVE RATES NOW; YELLEN SAYS FED SEES ECONOMY ON STEADY PATH OF IMPROVEMENT; Because when have the Fed's forecasts before ever been wrong." Continue reading →
In Federalist #46, James Madison gave us the blueprint for how to reject federal programs. And, whether he knows it or not, incoming Kentucky Gov. Matt Bevin is putting at least one of Madison’s 4 steps into practice against the EPA. On the Glenn Beck show this morning, said he will push back against the…
OKLAHOMA CITY (Nov. 6, 2015) – A bill up for consideration when the Oklahoma state legislature returns from recess in Feb. 2016 would reform asset forfeiture laws by prohibiting the state from taking property without a criminal conviction. But it leaves open a big loophole that would allow the practice to continue under federal forfeiture programs. Introduced by…
Because its Thursday and we are disgusted and fed up with that swamp we call the District of Columbia . I thought today would be a great day to change the tone, so here goes. ht...
BOSTON (Nov. 5, 2015) – A bill under consideration in the Massachusetts Senate would reform asset forfeiture laws to prohibit the state from taking property without a criminal conviction in most cases. Introduced in April by Sen. Salvatore DiDomenico (D-Middlesex) along with a bipartisan group of cosponsors, Senate Bill 797 (S797) was given a hearing in…