Federal Reserve welcomes a Brave New Economy – how the Fed is robbing the public in open daylight. Maiden Lane Special Purpose Vehicles purchased toxic mortgages like option ARMs and commercial real estate.
The global economy seems to be facing a Brave New World envisioned by Aldous Huxley where the world is operating under a command economy and all citizens are psychologically conditioned from to birth to value consumption. The Federal Reserve is the ultimate spend more than you earn machine. It is amazing that a few hours […]
Credit card withdrawal – Banks pull the plug on consumer revolving debt. Credit card debt outstanding contracts from nearly $1 trillion to $800 billion. Bankruptcies on the rise even with tougher bankruptcy laws.
When people talk about the credit bubble they typically refer to the housing bubble and the trillions of dollars of debt secured by real estate. Yet the credit bubble also applies to student loans, government debt, and those pesky wallet hugging credit cards. The American economy has embraced credit cards as quickly as apple pie […]
Federal Reserve is the primary tool of the new financial oligarchy – The ultimate banking clearing house with zero oversight from the people still holds over $2 trillion on its balance sheet.
The Federal Reserve system (the Fed for short) is the US central banking system. The Fed was created in 1913 with the enactment of the Federal Reserve Act. In the beginning the Fed had limited powers and its mission was limited. According to the Fed its mission today is to conduct monetary policy, supervise and […]
The red queen race of debt – US public debt set to pass US annual GDP. The 100 percent GDP to public debt threshold is quickly approaching.
People may not even realize that during the Great Depression, US Federal debt as a percent of GDP did not even reach 40 percent. Part of this was because the size of government was much smaller in military, public services, and entitlements. The only time in history that the US as a whole spent more […]