Category Archives: Federal Reserve Bank

UPDATED: Republikeynesians Pretend They’re Not Sidelining Paul

Barack Obama, Debt, Democrats, Economy, Elections, Federal Reserve Bank, Foreign Policy, Israel, Republicans, Ron Paul

Megyn Kelly interviewed Ron Paul about the snubbing he has received from the “mainstream media.” “RepubliKeynesians” have been front-and-center in a concerted attempt to ignore Ron Paul’s showing in the 2011 Iowa Straw Poll. One could say that Paul jostled with Mrs. Bachmann for first place, given the 152 votes that separated the two.

Paul sounded strong in the Kelly clip, which has not come online yet. (And he reiterated these Israel-related points, which was gratifying, of course.)

Here is the often dazzlingly brilliant Jon Stewart “savaging the media for treating Paul like he’s the ‘thirteenth floor in a hotel.'” (Via the NYT)

UPDATE (Aug. 17): Jon Stewart is often brilliant, but he is no classical liberal. He’s an economic ignoramus. Classical liberalism is first and foremost about the freedom to make a living. Stewart knows squat about such freedoms.

The Money Market’s Mortician

America, Debt, Economy, Elections, Europe, Federal Reserve Bank, Inflation

When Standard & Poor’s cut the American credit outlook to negative, one Canadian wag mocked the credit ratings agency’s “special talent for arriving at the morgue and predicting the demise of the deceased.”

Now the money market’s mortician has made it official:

Via the WSJ: “Standard & Poor’s said U.S. Treasury debt no longer deserved to be considered among the safest investments in the world. S&P removed for the first time the triple-A rating the U.S. has held for 70 years, saying the budget deal recently brokered in Washington didn’t do enough to address the gloomy long-term picture for America’s finances.”

Ask Vladimir Putin, who knows a lot more about inflation that does “Zero,” and he’ll tell you that downgrading obligations such as have been incurred by the USA to an AA+ score is still too optimistic.

The mighty USA’s finances “rank below Liechtenstein and on par with Belgium and New Zealand.”

Be Afraid: The Proof is in the Putin

America, Debt, Economy, Federal Reserve Bank, Foreign Policy, Government

The following is an excerpt from “Be Afraid: The Proof is in the Putin,” my new, WND.COM column:

“Left and right, the cable commentariat is currently engaged in a cut-and-thrust over the use of strong words in politics. In particular, does ‘terrorism’ describe the initial reluctance of some tea partiers to support the US government’s set-in stone spending?

Lost in this silly squabble is the following: ‘the second coming of the Republican revolution,’ as Politico.com dubbed the tea party contingent on Capitol Hill, failed to defuse the threat of the debt. Only 28 tea-party freshmen voted against the ballyhooed “Budget Control Act Amendment.”

Listen to the words of one wily politician whose country’s central bank holds almost 40 percent of dollars as reserve currency. Vladimir Putin’s response to the debt compromise was pitch-perfect, given the stakes stateside and beyond. This via RT and Press TV, respectively:

‘The current deal struck by US lawmakers will not solve the underlying issues. This colossal debt, $14 trillion or more, means that the country has been living on credit, which is really bad for one of the world’s leading economies. They live beyond their means, and put a part of their burden on the entire world’s economy. … The country is … shifting the weight of responsibility on other countries and in a way acting as a parasite.’

Having impressed themselves no end, the lawmakers who came up with the “Budget Control Act Amendment” don’t impress Putin much.

So what was the deceptive deal that was endorsed by 59 of the already stale tea-party freshmen, and got enthusiastic whoops from many among mainstream media’s menagerie of morons? …”

The complete column is “Be Afraid: The Proof is in the Putin.”

If you are interested in syndicating my weekly, WND column, kindly email me for details at ilana@ilanamercer.com. “Return to Reason“ is WorldNetDaily’s longest standing, exclusive libertarian column.

My new book, “Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa,” is available from Amazon.

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Dead-End Debt Debate

Debt, Democrats, Economy, Federal Reserve Bank, Ilana On Radio & TV, Individual Rights, Inflation

The following is from “Dead-End Debt Debate,” now on WND.COM:

“The economy is in advanced stages of decrepitude due to debt: public and private. Nevertheless, a just-released ABC News/Washington Post poll revealed that 58 percent of self-identified Republicans believe that if their government doesn’t continue to borrow apace, things will get worse.

In legislative language, our wily political pitch men have been granted license to lift the debt ceiling! Quick-fix quacks in both chambers can now proceed to borrow by further inflating the country’s fiat money supply.

Duly, two broad plans have been hatched. These schemes are aimed at saving financial face, more than slashing spending or trimming America’s gargantuan government. To listen to this school of scoundrels – represented by statists from different corners of the political boxing ring, from Fox News’ Stuart Varney to MSNBC’s Rachel Maddow – not to raise the debt ceiling is plain unpatriotic. … Needless to say that, “Cross-party consensus results when political expediency trumps principle.” …

The complete column is “Dead-End Debt Debate,” now on WND.COM:

My new book, “Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa,” is available from Amazon.

Please note that you can purchase the lower-cost Kindle copy of “The Cannibal” without having to own a Kindle – all you need is a PC or a hand-held device (iPad or phone). This hyperlink describes the free Amazon software application for these devices. So you do not require a new gadget to read the book on Kindle.

A good way to help this work’s mission, and raise awareness of the issues covered in depth and detail in the book, is to post your reviews to Amazon. You don’t have to have purchased the book from Amazon to review it on the site.

Upcoming Mercer media appearances are here. I’ll be talking with Chuck Wilder of “Talk Back” tomorrow, Friday, July 22, from 12:40PM until 1:00PM Pacific