Ms. Yellen, It’s a Trap!
"That Larry Summers is one sly dog. With his 'surprise' move to continue QE3, Big Ben just bought himself some time to safely exit the scene, following the pattern of the last two Fed handovers." Continue reading →
Bill Bonner: Larry Summers Was a Lousy Choice Anyway
"Yes, Summers is smarter than we are. Yes, he has a better academic record. Yes, he is a real economist. Yes, he has widespread political support and a winning personality. But beyond those things, studies find that people with lower IQs make better truck drivers than people with high IQs. Which puts the critical question right out in the open: What kind of thing is running a central bank? And how smart do you have to be to be a successful central banker?" Continue reading →
Ron Paul: Yellen likely frontrunner in Fed race
"Former Rep. Ron Paul, (R-TX), provides his take on the Fed and what a taper could mean for the future of the economy and markets." Continue reading →
Janet Yellen On The Financial Crisis: “I Didn’t See Any Of That Coming”
"'For my own part,' Ms. Yellen said, 'I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.' Her startled interviewers noted that almost none of the officials who testified had offered a similar acknowledgment of an almost universal failure." Continue reading →
Elizabeth Warren says Janet Yellen a ‘terrific’ choice to succeed Bernanke
"Rebel Democrats on Monday threw their weight behind a growing campaign for Janet Yellen to take over the US Federal Reserve, as their successful revolt against White House pick Larry Summers emboldened those calling for tougher policy toward Wall Street. Investors were betting that Yellen would look more favorably on the continuation of the Fed’s massive financial stimulus programme, known as quantitative easing (QE). Yellen has backed Bernanke in his plans to extend the $85bn-a-month bond-buying programme that is aimed at stimulating the economy and keeping interest rates down. Summers had been perceived as being more critical." Continue reading →
Napolitano: Obama’s remedy for embarrassment nothing but tough talk
"Mr. Obama is generally firm in his belief that he needs to vindicate the threat he made last summer when he was trying to outdo Mitt Romney on sounding tough. It was then that Mr. Obama threatened to intervene in the Syrian civil war if chemical weapons were used by the government. Nevertheless, hating the international embarrassment visited upon him when suddenly Mr. Putin seems more reasonable than he does, Mr. Obama conceded to my Fox News colleague Chris Wallace that the Kerry-inspired and Putin-pushed idea seemed worth considering. Then the Syrian government agreed." Continue reading →
The Talented Mr. Lew
"Some guys have it, and some don’t. I’m referring to that special quality that makes powerful institutions want to throw fistfuls of dollars at them in senseless acts of high-priced beneficence. Jack Lew has it like nobody’s business. You might think the bespectacled treasury-secretary nominee is just another brainy budget wonk and miss the animal magnetism that makes his employers lose all sense of financial proportion around him, paying him astronomical sums, forgiving his loans, and granting him generous golden parachutes. Yes, Jack Lew is a rare talent — at the art of getting paid." Continue reading →
Protesters gather in DC to demand no strike against Syria
"As Congress prepares to consider a proposal for airstrikes in Syria against the regime of Bashar al-Assad, public sentiment is tilted against the idea. Protesters gathered to make their objections felt in the nation's capital this weekend, calling into question President Barack Obama's case that action is necessary to maintain international law, deter other 'bad actors' and protect American credibility." Continue reading →
A complete U.S. withdrawal from Afghanistan in 2014? Don’t count on it
"A US envoy on Tuesday dismissed suggestions that Washington would withdraw all troops from Afghanistan after next year, saying that both countries wanted to preserve a smaller force. Aides to US President Barack Obama earlier this year openly mulled the so-called 'zero option' of a complete withdrawal from Afghanistan once US troops end their combat role in 2014. 'We talk about the zero option — that’s not an option for the United States,' said James Dobbins, the US special envoy for Afghanistan and Pakistan. Dobbins said he expected 'several thousand American forces and several thousand non-American NATO forces' in 2015 and beyond." Continue reading →
The Rise of the Antiwar Libertarian Republicans
"If you’re among the majority of war-weary Americans who oppose any sort of military intervention in Syria, thank libertarian Republican lawmakers Sen. Rand Paul of Kentucky and Rep. Justin Amash of Michigan. If the House and Senate vote against authorizing war next week, the efforts by these two guys will have been instrumental. Indeed, their outspoken, principled pushback is part of the reason that President Barack Obama—the 2009 Nobel Peace Prize winner—hasn’t already pursued some sort of strike 'just muscular enough not to get mocked' by the world while not inciting retaliation by Bashar al-Assad’s allies, Russia and Iran." Continue reading →
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