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Gary North On The Coming Inflation
The Federal Reserve System faces a dilemma of its own creation: the doubling of the monetary base. You can see it here.
The only thing that is keeping this from creating mass inflation is the decision of commercial bankers to deposit the bulk of this increase with the Federal Reserve. The banks are not lending out this money. Neither is the FED. This money does not legally belong to the FED.
There is a reason why the banks are not lending money to the public. Instead of taking the risk of lending, the banks are depositing hundreds of billions of…
Obama: Catastrophe Coming If Congress Doesn’t Act
By ANDREW TAYLOR
Associated Press Writer
(AP:WASHINGTON) President Barack Obama said Wednesday the recession will turn into "a catastrophe" if the economic stimulus is not passed quickly, lobbying anew for the plan as its price tag climbed above $900 billion and drew more criticism.
The president rejected several complaints about the plan, including arguments that tax cuts alone would solve the problem or that longer-term goals such as energy independence and health care reform should wait. Obama opposed such piecemeal approaches.
Instead, he argued that recalcitrant lawmakers need to get behind him, saying the American people embraced his ideas when they elected him president in…
4Feb2009 | INO | 0 comments | ContinuedMunis In The Crosshairs
When it comes to budget finance, a municipality more or less works the same as the federal government. It carries a surplus, deficit, or balanced budget. If a muni has a budget shortfall, it needs to finance it through the sale of bonds. That is how a federal budget deficit is managed as well.
The difference lies in the price to finance. The U.S. government can sell treasury notes at a high price with a low yield. This is not always the case for the muni, and recently yields have gone through the roof. Obviously many of the factors that affect…
3Oct2008 | Oxbury Research | Comments Off | Continued
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