G-20 Summit Opens in Pittsburgh
As world leaders gather today in Pittsburgh, Pennsylvania, for the latest G-20 meeting, expectations are running high among global elites that this, the...
Economic Commentary
G-20 May Agree on Limiting Bankers’ Bonuses
According to U.S. Treasury Secretary Timothy Geithner, the leaders of the G-20 nations now assembled in Pittsburgh are close to agreement on a...
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Federal Reserve Snubs Public Review
The U.S. central bank has once again refused to open itself up to even the slightest amount of transparency. According to Bloomberg news,...
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Bernanke Says Recession Is Almost Over
Ben Bernanke, Federal Reserve Chairman, expressed confidence that the worst recession since the 1930s is almost over. In a speech before a Brookings...
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Cash for Clunkers
Item: The National Public Radio news blog, “The Two-Way,” reported on August 7: “The relatively good news that the unemployment rate dropped slightly...
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Auditing the Fed Moves Ahead
At a town hall meeting held in his Massachusetts district, House Financial Services Committee Chairman Barney Frank provided a surprising response to a...
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Audit Citigroup? What About the Fed?
News stories on August 19 reported that Neil Barofsky, Special Inspector General (SIG) of the U.S. treasury Department’s $700 billion Troubled Asset Relief...
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Obama’s 10-year Deficit at $9 Trillion
The Obama administration is expected to release a report soon estimating that the 10-year budget deficit for the United States will be roughly...
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U.S. To Become “Banana Republic,” Says Senator
According to Senator Judd Gregg (R-N.H.), the United States is on its way to becoming a “banana republic” within 10 years. ...
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Stimulus Scam Redux?
Item: President Barack Obama, reported the Bloomberg news agency for July 11, “said his $787 billion stimulus bill ‘has worked as intended’ as...
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U.S. Incomes Fall 1.3 % in June
According to the latest figures from the U.S. Department of Commerce, Americans’ personal incomes dropped 1.3 percent in June, the biggest drop in...
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Bailed-out Bankers Bag Big Bonuses
Nine financial firms that received a total of $32.6 billion through the government's Troubled Asset Relief Program (TARP) paid their top traders and...
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Dollar Values Plunge Worldwide
Just call it irony. The same day the value of the dollar plunged to a current-year low as measured against six other major...
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Bernanke’s Public Relations Offensive
Federal Reserve Chairman Ben Bernanke must know he’s in trouble. This week he completed a “town hall”-style meeting for PBS television to promote...
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CBO to Congress: Spending & Debt “Unsustainable”
Congressional Budget Office Director Douglas W. Elmendorf gave a fiscal wake-up call to Senate Budget Committee members in testimony on July 16, noting...
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