On Monday, news broke that ubiquitously idiotic Secretary of State John Kerry uttered these immortal lines at a talk with embassy staff in Addis Ababa, Ethiopia: “This is a time here in Africa where there are a number of different cross-currents of modernity that are coming together to make things even more challenging. Some people […]
Uli Deck/dpa/picture-alliance/Newscom American regulators yesterday agreed, both internally and with the European Union, on how to deal with the trading of financial derivatives beyond U.S. shores. The EU and U.S. essentially decided to treat each other’s rules as “close enough.” While the decision has some value, it continues to miss the point. No set of […]
Ultra Leftist Rep. Barney Frank (D., Mass.), who is retiring from the House this year, now says that President Obama made a “mistake” in pushing for his signature health law. “I think we paid a terrible price for health care,” he told Jason Zengerle of New York magazine. “I would not have pushed it as hard. As […]
There were plenty of lessons to learn after the financial crisis of 2008. Unfortunately, neither Congress nor the Obama Administration was willing to take the time to learn them. Instead, they acted before they understood the causes of the crash or what to do to avoid similar bailouts in the future. The result was the […]
Segment from recent HBO comedy special. Miller’s take on Islam, Terrorists, Moderates, Cuba, the Vice Presidents hair plugs and not to forget Nancy Pelosi. … Radio Host and Political Comedian Dennis Miller, HBO [youtube cAnkj9aL4O4 nolink]
Upon passage of the financial reform bill, then-Speaker Nancy Pelosi (D-CA) said, “This is the next critical step forward in an effort to rebuild our economy.” This type of political hubris is reminiscent of what economist Friedrich Hayek referred to as the fatal conceit. Unemployment still stands above 9 percent, business confidence is in the […]
The Over the Counter (OTC) Bullion Market, will be Banned for ALL U.S. Residents and corporations as of July 15, 2011. Many OTC Precious metal Dealers have already begun to Unwind their Bullion Retail businesses; including one of the world’s largest, Forex.com The New Law will initially Ban Tangible Bullion that is purchased or sold […]
The release of the final report(s) of the Financial Crisis Inquiry Commission (FCIC) brings to mind the story of several blind men trying to describe an elephant. One felt the legs and decided an elephant was like a forest, while another felt the trunk and decided that elephants are like snakes. Sadly, the FCIC went […]
Members of the 112th Congress were sworn in just days ago, and already lawmakers are making big waves. Rep. Michele Bachmann, a Republican from the state of Minnesota in her third term, introduced legislation Thursday that would repeal the Dodd-Frank financial reform bill that was signed into law just six months ago. Dodd-Frank calls for […]
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