Category Archives: Federal Reserve Bank

UPDATED: ‘Continuity Candidate’ Jerome Powell To Chair The Federal Reserve System

Debt, Economy, Federal Reserve Bank, Inflation

Paul Volcker looks especially good right about now” given the appointment of “continuity candidate” Jerome Powell to chair the Federal Reserve Bank.

MORE:

“Paul Volcker Looks Pretty Good Right About Now” By Jeff Deist.

Trump Taps Jerome Powell to Chair Fed” @ CATO

UPDATE:

The Swamp Wins: Trump Nominates Powell to Replace Yellen“:

… in naming Powell, Trump is picking an Obama-appointed Fed Governor for his most important nominations is itself quite fitting. While we have long known that bad monetary policy is bipartisan, Powell’s nomination serves as a particularly useful illustration of how little has changed in Washington since the Bush Administration.

Of course, just as Trump received his loudest applause from Washington for doing his best impersonation of his two predecessors, the President is already being praised for making a “grown up” decision when it comes to the Fed.

It Takes A Village Idiot To Vote For Hillary

Donald Trump, Elections, Federal Reserve Bank, Foreign Policy, Hillary Clinton, Russia

“It Takes A Village Idiot To Vote For Hillary” is the current column, now trending on Townhall.com. An excerpt:

If you strapped Bill Clinton to a polygraph (or some lie detector that can’t be fooled by the Clintons)—I suspect he, too, might confess to a preference for Vladimir Putin over Barack Obama.

Mr. Clinton had been appropriately scathing, in 2008, about Obama’s mythical status in the media. A “fairy tale,” he called the current president.

However, his wife and her supporters on The Hill and in media have ruled that any remotely realistic utterance about the Russian president—such as that he’s a strong leader who’s popular with his people and acts in their interests—puts you outside the camp of the saints.

Mrs. Clinton is making it a habit to tell Americans what to say and how to think if they want to qualify as … Americans.

In particular, Hillary’s AltRight screed, best described on Twitter as the Control-Alt-Delete speech, focused on Mrs. Clinton’s crusade against deviationists. Provided by a twitter handle called “Hillary’s PR Team,” here’s a distillation of the interminable smear against Trump and his supporters, peddled as “substantive” by the moron media:

Prejudice and paranoia, hate groups, harmful stereotypes, hateful supporters, systemic racism, dark conspiracies, dark conspiracy theories, racist lies, bigotry, racist, white supremacist bigot, white nationalist leader, KKK, racially tinged rumors, Alex Jones. …

Yes, Hillary’s Control-Alt-Delete harangue began with the biggest deviationist of all, Donald J. Trump. Trump “disregards the values that make our country great,” fumed the fire-and-brimstone Mrs. Clinton on that occasion.

To his great credit, Trump flunked another test of “true American principles,” established by Hillary, following the NBC’s “Commander-in-Chief” forum, on September 7.

As the media reminds us, Trump disqualifies himself for the presidency daily. This time it was for speaking the truth about Putin at the forum. The Russian people’s approval of their president stands at 82 percent. But the correct American values, as decreed by our northeastern elites, depend on disparaging Putin and his people. After all, Russians are stupid. They need Clinton and her Radical Republican counterpart, Speaker Paul Ryan (or a color-coded revolution organized by both), to induct them into the American government’s ways.

Enforcer Hillary (and Speaker Ryan) was having none of it. A preference for the Russian president over our American president was plain “unpatriotic and scary,” to be stamped out and marginalized.

“Hillary Rodham Clinton,” argues historian Clyde N. Wilson, whose métier is American intellectual history, “is a museum-quality specimen of the Yankee—self-righteous, ruthless, and self-aggrandizing.”

Wilson uses the term Yankee “historically to designate a peculiar group descended from New Englanders, who can be easily recognized by their arrogance, hypocrisy, greed, lack of congeniality, and penchant for ordering other people around.”

By Yankee, Dr. Wilson does not mean “everybody from north of the Potomac and Ohio. The firemen who died in the World Trade Center on September 11 [commemorated this weekend] were Americans. The politicians and TV personalities who stood around telling us what we are to think about it are Yankees.”

In their journey from the “hyper-Calvinism of their early days,” to “their present atheism,” Yankees like Hillary have long ago replaced religious zeal with a progressive’s political fanaticism. And while they’ve “abandoned anything that might be good in their religion,” contends Wilson, bossy busybodies like Clinton have never given up the notion that “they are the chosen saints whose mission is to make America, and the world, into the perfection of their own image.”

Again, by continuously enforcing the “standard of all things American and good,” Hillary is not that different from her Republican colleagues. They, too, deploy the values cudgel as energetically, to whip the base into shape. Or, to read many of us out of the American family.

To compound his unorthodoxy, Trump failed to fall back on the American exceptionalism exemption, in judging the actions of American leaders—good by default—relative to other world leaders. At the “Commander-in-Chief” forum, Trump intimated that Mr. Putin’s transgressions were “no less troublesome than Mr. Obama’s transgressions.” Quite right. Ask the innocent victims of Obama’s energetic drone program ongoing: villagers in Pakistan, Afghanistan, Libya and Yemen. …

… Read the rest. The complete column is “It Takes A Village Idiot To Vote For Hillary.”  Read it on Townhall.com, where it’s trending.

Crazy Clinton Decrees, Don’t Talk About The Fed

Debt, Donald Trump, Federal Reserve Bank, Hillary Clinton

Hillary Clinton has issued a decree about the Federal Reserve Bank, to the extend she understands that the Fed’s monetary policies are what monetize the debt she and her kind run up.

According to Clinton, the tool that greases the operations of government “should be off-limits for U.S. presidents and presidential candidates. You should not be commenting on Fed actions when you are either running for president or you are president,” commanded this illiberal, controlling, presidential candidate.

Donald Trump, on the other hand, gets that the Fed is “keeping the rates down so that everything else doesn’t go down,” and that, “We have a very false economy.”

And he says so.

To contrast with the lack of awareness of monetary policy among his rivals, Donald Trump’s awareness of the destruction created by the Federal Reserve system was commended in “The Trump Revolution: The Donald’s Creative Destruction Deconstructed”:

“The consummate homo economicus, Trump is a rational actor in the market place. Unlike the rest of the GOP contenders who’re guided by political calculations; Trump speaks like a man to whom rational economic choices are second nature. And so he gets that the ‘stock market is bloated’; that the Stock Exchange is a laughing stock, and that soaring stock prices are a consequence of centrally planned, monetary stimulus.” (p. 45.)

On A New Trick From The Feds’ Funny-Money Bag of Tricks

Debt, Federal Reserve Bank, Inflation, Private Property

Its old tricks are bad enough, but when an wrecking-ball like the Federal Reserve Bank tries something “new,” there’s even more reason to be afraid:

“T]here is something new [and ominous] in the present [quantitative easing] cycle,” warns Murphy, Robert P. Murphy, in the latest Mises Institute “Austrian.”

“The Fed is trying to raise rates while simultaneously maintaining its bloated balance sheet. It is attempting to pull off a magic trick whereby it can keep all of the ‘benefits’ of its earlier rounds of monetary expansion (i.e., “quantitative easing” or “QE”) while removing the artificial stimulus of ultra-low interest rates. …”

“Raising interest rates without selling assets,” gives us “the worst of both worlds.

We still get the economic effects of “tighter monetary policy,” because the price of credit is rising as it would in a normal Fed tightening. Yet we don’t get the benefit of a smaller Fed
footprint and a return of assets to the private sector. Instead, the US taxpayer is ultimately paying subsidies to lending institutions to induce them to charge more for loans, while the big banks and Treasury still benefit from the effective bailout they’ve been getting for years. …

Important reading: “The Fed Can’t Save Us” by Robert P. Murphy.