The Economy


“As editor of the largest newspaper in West Virginia, I scan hundreds of reports daily and I am amazed by the frequency with which religion causes people to kill each other. It is a nearly universal pattern, undercutting the common assumption that religion makes people kind and tolerant.” — James Haught

How To Cripple The Real Estate Market In Five Easy Steps

Great list of 5 ridiculous stupid ways the Federal Reserve is shooting itself in the foot while crashing the housing market and the economy.

If you were head of Central Planning (howdy, Ben!) and were tasked with crippling the real estate market, here’s what you would recommend.

Union Square: #Occupied – Occupy Wall Street Finds A New Home – #OWS

Occupy Wall Street protestors have found a legal loophole that has allowed them to set up an encampment in Union Square in New York City.

Rothschild’s Plan for America

America is dying, inflicted with a fatal, terminal disease. Few understand this. Most citizens are in denial. The glories of yesteryear—the halcyon days of Washington, Jefferson, Audie Murphy, and John Wayne—will return, the die-hard optimists say—”Just you wait and see.”

But these bright-eyed people are wrong. No dreaded disease can be conquered by the misguided patient who fails to realize he is sick and dying. Knowledge leads to victory, and in America today, the people perish for lack of knowledge.

The Dallas Fed Is Calling For The Immediate Breakup Of Large Banks

It’s hard not to think it’s a big deal when a branch of the Federal Reserve system calls for the breakup of major American banks.

The bank has just released its annual report, and the title of the letter is: Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now.

NYPD Tramples Injured Protester at Union Square – #OWSUnionSquare #policebrutality #M20

via @Lukewearechange

DHS Turns Over Hundreds of Pages Occupy Wall Street Documents to Jason Leopold #DHSOWS #OWS #OO #Anonymous #FOIA

The Department of Homeland Security (DHS) closely monitored the Occupy Wall Street movement, providing agency officials with regular updates about protests taking place throughout the country, responding to requests from fusion centers for intelligence on the group and mining Twitter for information about Occupy’s activities

Industrial Wind and the Production Tax Credit

The glimmer has been lost from industrial wind. The “Green” promises of an alternative energy hits a brick wall when applied to this industry.

By an objective analysis standard, wind projects make no economic sense. Just look at some of the provisions that subsidized this botched industry.

“The American Recovery and Reinvestment Act of 2009 (H.R. 1) allows taxpayers eligible for the federal renewable electricity production tax credit (PTC) to take the federal business energy investment tax credit (ITC) or to receive a grant from the U.S. Treasury Department instead of taking the PTC for new installations.

China: Where Money Is Treated Best

9% Unemployment Rate is a Statistical Lie” is a pretty catchy title, and being the kind of vicious little rat that I am, and who suspects treachery and betrayal at every turn, I naturally take a look at it to confirm my worst suspicions.

The bad news is that it is, indeed, scary stuff! The article is by Greg Hunter of, who writes that John Williams of has calculated that “If unemployment was computed the way BLS did it prior to 1994, the true unemployment rate would be 22.2%.”

Fed earned $77 billion last year, 2nd-highest ever

The Federal Reserve and its district banks said Tuesday it earned $77.4 billion last year, down from $81.7 billion in 2010 but the second-highest level in the central bank’s history. The bumper earnings allowed the Fed to distribute $75.4 billion to the U.S. Treasury, also the second-highest level ever. The earnings was derived primarily from $83.6 billion in interest income on securities acquired through open market operations, from Treasury securities, federal agency and government-sponsored enterprise mortgage-backed securities, and GSE debt securities.

Can you imagine what that 77 billion dollars would have done in circulation in the US, rather than as profit to a private central bank to which charges the US government interest to borrow from it?!?

Top level bankers resigning in droves. What does this mean?

I have been seeing reports lately that an unusually large number of top level banking and finance executives worldwide have been resigning their positions. The American Kabuki website features a report titled, 320 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS, and a Japanese website has posted some amazing graphs of resignations by region, by country, and by company.

Now, today, the New York Times is reporting that, “Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.”

U.S. Drivers Going to Mexico for Gas!!!


The Pound Falls After UK Deficit Comes In Way Worse Than Expected

Lots of budgetary and monetary headlines out of the UK today…

Probably the most impactful is the big spike in February borrowing.

Total borrowing came in at 15.183 billion pounds. According to Sky News, expectations were for a deficit of just 8 billion pounds.

This unpleasant news comes on the same day as the UK government is due to introduce its new budget.

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