A Furious Ralph Nader Calls Out The Fed As “Tribune To Plutocratic, Crony Capitalism”; Janet Yellen Responds

We have a few really liberal (the American “modern” kind) favorites and Ralph Nader is one of them.

We like him not because he agrees with us on everything, he certainly doesn’t, but he has a moral compass. He has a deeply developed sense of right and wrong. This is something too many in the political world both on the Left and Right simply do not have.

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Poll: 1 in 3 Independent and Republican voters see the government as an “enemy”

Many people see the federal government as not reflecting their views at all. Some see the unending expansion of the state into every nook and cranny of life, and the gaming of the government by powerful corporate and political interests, as a real threat. Indeed that our massive government is encroaching on the things many Americans hold particularly dear, independence, for some – faith, economic liberty, liberty generally, privacy, and so on.

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Billionaire Paul Singer on Chinese downturn, could cause “Global central bank panic.”

Are we too pessimistic with regard to China? Perhaps, but who really knows. Seriously, who really knows. The data out of the Ultimate Crony Capitalist State is poor. It is politically manipulated. No one really has a hard sense of what’s actually going on, including probably the Chinese government to a large extent.

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Perhaps the best 5 minute geopolitical and economics lesson you’ll ever see. From the movie NETWORK

Ned Beatty isn’t totally right here but there’s a good bit of truth in what he says. Regardless below is one of the greatest scenes in all of cinema and everyone should see it.

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Denmark’s Prime Minister tells Bernie Sanders (and others) to stop calling the country “socialist”

My bet, having talked with a few business oriented Danes over the last year, is that Denmark probably falls somewhere between Mr. Sanders’ dream and the market friendly nation Danish Prime Minister Lars Lokke Rasmussen touts. But one thing is absolutely true and that is that the “Nordic Model” is on the wane in Scandinavia. The far northern Europeans are much more open to markets and market forces than they were in the relatively recent past. Perhaps newly minted American “socialists”

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Charles Koch: We are doling out welfare for the wealthy

For decades “conservatives” have bemoaned welfare generally, but most of the attention has been on conventional welfare for the poor. And this area of public policy deserves more scrutiny and radical reform. The welfare laws in this country are seriously messed up and have done much to erode the underpinnings of American society. We have created a taxpayer subsidized underclass in this country.

But conservatives have, at least until now, largely ignored the subsidized “overclass” which has emerged in recent years.

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Does the Bell Toll for the Fed?

By Ron Paul

Last week Federal Reserve Chair Janet Yellen hinted that the Federal Reserve Board will increase interest rates at the board’s December meeting. The positive jobs report that was released following Yellen’s remarks caused many observers to say that the Federal Reserve’s first interest rate increase in almost a decade is practically inevitable.

However, there are several reasons to doubt that the Fed will increase rates anytime in the near future. One reason is that the official unemployment rate understates unemployment by ignoring the over 94 million Americans who have either withdrawn from the labor force or settled for part-time work.

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Goodbye Middle Class: 51 Percent Of All American Workers Make Less Than 30,000 Dollars A Year

We disagree with a couple of points in this article, but overall he’s right. The middle class is indeed dying. A little more each passing year. But it’s not robots and foreign workers which are fundamentally to blame. That we live in a crony, highly financialized economy has more to do with it. Vast swathes of the American people are shut out of the economy because of things like occupational licensing and other regulations which benefit vested interests. Piles of red tape hold people down.

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Big Banks to America’s Firms: We Don’t Want Your Cash

You know it’s a good sign when banks are like, “No, no, we aren’t interested in taking your piles of money.”

Sounds like we’ve got a robust and healthy economy going to me.

This can be blamed totally and completely on the planners at the Federal Reserve and other federal regulators. Cash is now a liability for the big banks. The world according to the Wall Street Journal is “awash in cash.” And yet much of America remains cash strapped.

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Ben Carson Upsets Washington Post for Questioning Fiat Money

The dotted line indicates where the dollar was detached from gold.
Source: Washingtonsblog.com

One the most important things about gold as a monetary foundation is that it forces financiers and economists to deal with reality. Gold is the North Star by which economies and currencies are judged. It’s been this way for millennia, and it likely will remain the case for many years to come. But we have detached our money from gold, and reality. In 1971 Richard Nixon severed the last ties the dollar had to gold.

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Global Depression Coming (?) – Even “Powerhouse” Germany and UK Slow “Dramatically”

We added the question mark to the above headline from Zerohedge. We think such a depression is entirely possible, perhaps beyond possible. But regardless there are serious shudders moving through the world economy right now and we are deep into the current “expansion.”

So what happens when a recession happens when we are already starting from a lower baseline? Well, you know what happens. Things get ugly. And this time the geopolitical stakes are higher than they were in 2008.

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Carly Fiorina: The Powerful Grow Big Government, The Powerless Get Crushed

We don’t support candidates, we will leave that to the public, but we do appreciate that more and more candidates are agreeing with us that the central problem we face is crony capitalism.

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