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Tag Archives: money

Why the New York Fed Annoys Republicans and Democrats Alike

By far the most secret and least accountable operation of the federal government is not, as one might expect, the CIA, DIA, or some other super-secret intelligence agency. The CIA and other intelligence operations are under control of the Congress. They are accountable: a Congressional committee supervises these operations, controls their budgets, and is informed of their covert activities. It is true that the committee hearings and activities are closed to the public; but at least the people’s representatives in Congress insure some accountability for these secret agencies.
It is little known, however, that there is a federal agency that tops the others in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise, its operations. The Federal Reserve, virtually in total control of the nation’s vital monetary system, is accountable to nobody – and this strange situation, if acknowledged at all, is invariably trumpeted as a virtue. – Murray N. Rothbard from The Case Against the Fed

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Gruber Has Made At Least $5.9 Million For Government Work

Again, the voters may be stupid but their money is fun to spend.

What individual is paid $5.9 million by the taxpayers over a little more than 10 years? Apparently an individual who believes duping the American public in order to pass a massive new government program which will cost taxpayers billions (probably trillions) more is OK. But the government is US right?

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Why Wall Street loves Hillary

For the bankers the main issue is who will keep the current implied bailout regime in place? Who will let the Federal Reserve do what it does without criticism? Who will keep the light from shining on them? Who won’t question the current system of debt piled on debt piled on debt. Who will happily do The Street’s bidding?

Hmmm.

Hey Hillary, you’re “pragmatic.” You look pretty good. Here’s $100 million. Now go knock em’ dead.

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Billionaire Tom Steyer had a bad night last night

He  spent tens of millions of dollars on this year’s races, more than anyone else in 2014 by far, yet has little to show for it. Well, he has losses to show. But such is the life of a billionaire. You win some. You lose some. But in the end you can still write big fat checks for whomever you want. And in the end isn’t that what’s important?

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10 Giant Corporations Which Don’t Pay (Federal) Taxes

As anyone who reads us regularly knows we are fans of letting people and businesses keep as much of their own money as possible. At least tax breaks don’t cost the taxpayer anything and if the (tax break) money is kept in the private sector that money is much more likely to be used efficiently. (Of course the Fed has deeply undermined this mechanism with QE and near 0% rates.) However, as we also say, tax breaks can still be a form of crony capitalism. If company X gets a break and company Y does not because company Y doesn’t have the right connections, this is still a politicized marketplace and distorts the economy.

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Top political donors? 1. Steyer $73.7 million, 2.Bloomberg, $20 million, and 40 others

Um…

 

Thomas F. Steyer $73,725,000
Michael Bloomberg $20,011,895
Paul Singer $9,333,539
Robert Mercer $8,070,000
Fred Eychaner $7,900,000
Sheldon Adelson $5,000,000
J. Joe Ricketts $4,870,000
Richard E. Uihlein $4,235,000
Robert C. McNair $3,500,000
George Soros $3,315,000
Warren A. Stephens/Stephens Inc. $3,035,000
James H. Simons $3,000,000
Kenneth C. Griffin $2,825,000
Linda McMahon $2,635,000
Joseph W. Craft III $2,625,000
Seth A. Klarman $2,600,000
B. Wayne Hughes Sr. $2,500,000
Kenneth W. Davis Jr. $2,458,911
Ronnie Cameron/Mountaire Corp. $2,350,000
John W. Childs $2,165,000
S. Donald Sussman $2,025,000
Charles G. Koch $2,000,000
David H. Koch $2,000,000
Andrew Jerrold $2,000,000
Amy Goldman Fowler $1,999,760
Virginia James $1,800,000
George M. Marcus $1,750,000
Marlene Ricketts $1,725,000
Herbert M. Sandler $1,700,000
Jon L. Stryker $1,625,000
Anne Getty Earhart $1,600,000
Sean Fieler $1,574,670
Ronald M. Firman $1,476,620
Angelo Tsakopoulos $1,347,000
Daniel S. Loeb $1,250,000
Robert B. Rowling/TRT Holdings $1,200,000
Sean Parker $1,125,000
Ian M. Cumming $1,025,000
Julian H. Robertson Jr. $1,012,000
Diane Hendricks $1,000,000
Meridee Moore $1,000,000
Clarence L. Werner $1,000,000

Source: Federal Election Commission

By Christopher Schnaars, USA TODAY

Click here for the article.

Can You Uber a Burger?

You sure can, and lots else besides.

With mobile computing markets for practically everything are much more dynamic and useful for the average person.

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