Light that match: Yellen suggests radical new Fed policies

Yellen says the Fed is not “ actively considering” any of the radical and destructive ideas she outlines in her speech, but if not why is she mentioning them? These ideas include:  printing money to buy assets including stocks, targeting 4% or higher inflation, printing money until nominal GDP hits a certain target (Fed speak for until we get as much inflation as we want).

Also note that when ’08 hit, the Fed bought government supported mortgage securities even though that was illegal at the time.

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The anti-crony activists fighting for property rights in San Francisco

Let me say from the outset that development can be a pain. I live in an area which has seen lots of development in the past 3 years and I miss the old version of my town. In fact I had a guy build a much too big house on a tiny lot just across from me. I was NOT happy.

Over the past 3 years I have also seen how local cronyism can influence where houses are built,

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Federal Reserve meets with protesters afraid that a rise in interest rates will hurt Dem election chances

Well they didn’t say that exactly but everyone understands that a rate rise from the Fed might send stocks tumbling along with Democratic chances of taking the White House.

It’s interesting that the Fed folks met with these protesters as they seem quite uninterested in meeting with people who actually protest the insanity of the central planning organization (and who know what it does). The Fed critics far outnumber activists simply concerned with higher interest rates.

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Want to Reduce the Price of EpiPens? Approve Some Competition!

Yet another example of the state getting involved in medicine and the state making it possible for protected monopolies to cash in.  It’s not the market that pushed up prices on epipens. It’s the lack of market forces.

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Still Hating Breitbart: Clinton camp says Breitbart has no “right to exist”?

This is one of the reasons why we asked our readers whether they felt the 1st Amendment was under attack. Breitbart doesn’t have a right to exist? What kind of bs is that?

As the attached article points out this is right out of the Saul Alinsky playbook. Thing is the Clinton camp picking a fight with a seasoned scrapper in Breitbart. Bannon and company are unlikely to be as gentile as the Kochs.

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Why can’t Brazil get it together? Crony Capitalism

For all the cronyism we have in the United States, and we have plenty and it is growing, Brazil is far beyond us. It is truly a crony capitalist state through and through. It has probably always been but the country’s recent socialist leaders haven’t helped things.

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4,000 Native Americans in Bundy Ranch-Style Protest as DHS Cuts Water Supply — Media Blackout

Where I live Dominion Power is trying to use eminent domain to force through a pipeline from West Virginia to the Atlantic. Thanks to lower gas prices and a concerted effort from relatively well off land owners the pipeline, for the moment, has been held at bay. Things are a little more advanced out in Sioux country apparently. We are shocked that the Army Corps of Engineers, you know the federal government that has been so good to Native Americans over the years,

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The big defense contractors are lining up behind Hillary Clinton

I am currently editing a collection of past essays and last night I was editing the “neocon” chapter. I noticed that we argued multiple times in 2014-2015 that with the rise of Rand Paul the neocons, the pro-war crowd in the GOP and with them the weapons manufacturers, might defect to Hillary Clinton.

But as it turned out it wasn’t Rand who sent the big government GOP war advocates to Hillary, it was Trump.

(From Rare)

Defense contractors are accustomed to getting what they want.

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45 Years Without Gold (Standard)

Of course even when Nixon completely detached the dollar from gold we had a very very modified gold standard. But at least there was some tie to reality.

Now we live in an almost completely fiat system, though it can be argued – well – that oil is the de facto backer of US currency these days, the so called petrodollar. (Though some do not buy this argument.) Regardless we live in a highly financialized world with lots and lots of cheap money floating around.

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Los Angeles VA Hospital Lost 30 Cars, Then Fired Worker Who Reported It

The more I read about the corruption in the Veterans Affairs system the more I am convinced that the whole thing should be scrapped. I mean how many scandals are we supposed to endure? Every 3 months there’s another example of blatant mismanagement and crony capitalism. How does one “lose” 30 cars?

Now, most of the problem lay with the massive bureaucracy of the system but the attached story reminds me of a joke I just heard. And before I repeat it I will say that the joke probably isn’t fair.

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The Coming Free Speech Apocalypse

There was a time in this country when liberals were the ones who called for free speech. They marched for it. They fought for it. Berkeley Free Speech – Berkeley – was a real thing. Now however the sons and daughters of this crowd have embraced the totalitarianism their parents and grandparents fought against. It’s not supposed to be totalitarianism. It’s supposed to be “inclusive.” But we stare now at a mini-dark age in academia and in the media.

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