Yellen opposes the people auditing the Fed, says Federal Reserve officials need safe spaces to make decisions

Audit the Fed and then end it.

Yellen and the Fed bankers think they’ve weathered the storm. That the shamans of the “Temple” will be able to shuffle around in the shadows of the financial Vatican hidden from the view of the people they impact for another generation. They believe that they are above the public, and that the Fed’s actions, which impact the world dramatically, don’t need the kind of scrutiny one might expect in a free society.

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Fed official in effect says that competition and lower prices for consumers are bad for the economy and must be offset by Fed policy!

Yeah, I mean who wants lower prices and a higher standard of living anyway right? Screw that. We want higher prices and less for each dollar we earn. That’s much better.

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The Dow has rallied 3000 POINTS since Donald Trump was elected, Media silent

People seem confused by this rally. Really a rally on top of a Fed induced (to a very large extent) bull market extending back many years. How can this be, some wonder? Trump is bad news. How could the market tick up, solidly and definitively, in the wake of Trump’s election?

My feeling, and it is only this, and it is sure to contradicted by many a CNBC Squawk Box special guest, is that investors are just relieved that Obama is gone and that America dodged the Hillary bullet.

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Paul Ryan fails again? Democrats celebrate expansion of spending/cronyism in budget deal

Of course they don’t use the word “cronyism” or the term “crony capitalism.” But that’s what the $5 billion in additional spending is all about – cronyism. 

Included in the deal struck with Trump is increased taxpayer funding for Planned Parenthood (How such a thing could be funded by taxpayers at all is beyond me, but with a GOP Senate, House, and Presidency?) and a semi-bailout for profligate and utterly dysfunctional Puerto Rico. This is for starters.

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When a quarter is actually worth $8*

 

I wrote this 6 years ago for The Liberty and Economics Review. My first website of any consequence. I thought our readers might enjoy reading it.

At the time we were just barely considering climbing out of the depths of the Great Recession and we were seeing a solid (though brief) bit of price inflation. This price inflation was hammered later however by the massive move down in oil prices as OPEC and the US frackers went toe to toe and drove the price of fuel down.

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