Senate Candidate Elizabeth Warren Calls for Ouster of NY Fed Chief

Massachusetts Senate candidate Elizabeth Warren (D) is calling for JP Morgan CEO Jamie Dimon to resign from his position at the New York Federal Reserve Bank to acknowledge that he was in a position of trust after his company revealed that it had recently lost $2 billion as a result of bad bets on derivatives. [...]

Read Full Post »

A Demand for Transparency in the Federal Reserve Rescue of Wall Street

The folks of the Federal Reserve are not known for being funny, but sometimes they are. Dylan Ratigan, the democracy demander from MSNBC joined with the Huffington Post to attack the traditional secrecy of the central bank. Months ago, they filed a freedom of information request “asking the Fed to make available the meeting minutes [...]

Read Full Post »

Federal Reserve Bank Chairman Ben Bernanke warns jobs recovery may be ‘out of sync’ with economic picture. But What Is He Not Saying?

Bernanke said he believed the jobs problem (lack of job creation) in the USA is a “cyclical” rather than a “structural” problem. What is he really saying? It’s simple. The redistribution of income and wealth from the 99 percent to the one percent is not part of the problem. Of course, he’s lying. It doesn’t [...]

Read Full Post »

The Dow Jones Industrials and NASDEQ is Surging! Thanks to Run Amok Inflation Redistributing Your Income

The US government is hiding the true cost of inflation so that it can it hide an income redistribution scam for the rich. Corporations simply jack up the prices the 99 percent pay for food and energy and the government doesn’t count it when it measures inflation, but corporate profits rise because of those price [...]

Read Full Post »

Ben Bernanke defends low interest rates – video

In his semi-annual monetary policy report to Congress, the chairman of the US Federal Reserve, Ben Bernanke, defends his strategy to keep interest rates near a record low until 2014. Unemployment rates in the US have gone down from 9.1% in August 2011 to 8.3% in January 2012. Bernanke says the economy has to strengthen [...]

Read Full Post »

Banks agree $25 billion deal for U.S. homeowners

The banks got trillions in loans from the Federal Reserve that they claim they paid back, although it is statistically impossible for them to have done so; but now the banks are willing to pay billions to homeowners, which isn’t all that much when divvied up among all the homeowners the deal is supposed to [...]

Read Full Post »

Fed Chairman Bernanke Lies and Says Bush Tax Cuts Shouldn’t Be Allowed to Expire

Bernanke, puppet of Wall Street, testified to congress that allowing the Bush tax cuts to expire would jeopardize the economy. That’s B.S. Those tax cuts helped get us in this mess in the first place. Click here for the complete story

Read Full Post »

U.S. set for fourth year in a row of $1 trillion-plus deficit According to the Congressional Budget Office

The United States isn’t heading for a economic disaster, not yet anyway since were still in one, but it is heading toward another trillion dollar deficit. You’d think the folks in Washington would figure out that redistributing income and wealth from productive working people to the unproductive parasites of the affluent class reduces the demand [...]

Read Full Post »

Are We Near the End of the Era of Crony Capitalism? The Government Policies That Redistribute Income from the 99 percent to the 1 percent

The war began with a savage legislative assault by President Ronald Reagan. Working people voted for him as he slaughtered their livelihoods, starved their schools, bankrupted their nation, laid the foundation for mass corruption and destroyed the retirement accounts of the elderly. Now the Occupy Movement has come to challenge Reagan’s legacy. How did we [...]

Read Full Post »

The second draft: The Enormous Implications to the 99 Percent of the $26 trillion in Federal Reserve Loans. How Much Did Obama Know About the $26 Trillion the Federal Reserve Handed Out?

How much did Obama know about the $26 trillion in loans the Federal Reserve gave the banks? That money wasn’t used to save the banks. It was used to save rich investors. The Fed claims most of the loans have been repaid. However, statistically, that’s highly unlikely. Okay, it’s impossible. We can only speculate on [...]

Read Full Post »