The U.S. Federal Reserve was brutally criticized last week for initiating Quantitative Easing II (QE II) – a new $600 billion dollar scheme to inflate the money supply and stimulate the economy. Was Fed Chairman Ben Bernanke’s already aware that
China funded the largest economic stimulus programs in world history from July of 2009 through June of 2010. As a percentage comparison to the U.S. stimulus plan; the Chinese spent twice the amount of money in half the time. China
It is not unusual for the public to wake up to live television footage of student protestors in Islamabad, Athens, Caracas, Jakarta or Cairo waving red banners, smashing windows, breaking into buildings and then starting fires. However, this morning, the
The Federal Reserve announced “Quantitative Easing 2” (QE2) last week, a stimulus program whereby the Fed will print $600 billion of paper money to buy U.S. government bonds. Fed Chairman Ben Bernanke took the extraordinary step of trying to justify
Californians have become increasingly concerned that public employee pension costs may be a future burden on taxpayers. However, due to the complex world of actuarial mathematics and lack of accounting standards, most financial geniuses could not give you a straight
The White House’s ever-optimistic economic cheerleading squad is in shambles. Over the last six weeks, Peter Orszag, Director of the Office of Management & Budget and Christine Romer, Chairman of the Council of Economic Advisor, have now euphemistically “resigned to
With no shock and awe and little pomp and circumstance, China has declared war on the world. Having watched the Gulf Wars on CNN, Americans are accustomed to wars fought with jets, battleships, tanks and infantry. We constantly are on
Paul Krugman has been on a roll the last two weeks. After announcing that America is in its “Third Depression” last week, he provided an encore last weekend, by blaming U.S. Federal Reserve Chairman Ben Bernanke for his concerns about
Deflation is a concept many Americans have a tough time understanding. They do understand the concept of Social Security. As Federal budget deficits soaring, the public is being barraged by late night advertisements to buy gold as an inflationary hedge.
Like a junkie that keeps increasing his fix to get the same high, the U.S. Government deficit spending addiction has expanded by an all-time record 9.66% compound annual rate of the growth over the last thirty years. Even during the
Just as a frog will jump out of a hot frying pan, but will sit in water that slowly goes from cold to hot until he cooks to death; California’s politicians have sat quietly as the accumulation of chronic budget
