politics

Politics to Stall USA Recovery

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The Word from Republicans on The Hill is, “we will oppose Obama’s plans” US President Obama is widely expected to announce a new jobs plan on or just after Labor Day when he returns from his vacation. The plan will likely include the extension of payroll tax cuts, new revenue for transportation projects and an extension of emergency unemployment benefits for the 9.1% of Americans still unemployed. Mr. Obama’s campaign advisor, David Axelrod, said Sunday that there is nothing in the proposal “that reasonable people shouldn’t be able to agree on”, but many Republicans are already preparing to reject and … Read more

Fed Faces Criticism as Political Season Intensifies

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  Don’t mess with Texas, at least when it comes t0 monetary policy. Rick Perry, the latest entrant into the race for the Republican presidential nomination and already among the frontrunners, fired a shot across the bow of the Federal Reserve Monday. “If this guy prints more money between now and the election,” the Lone Star state’s governor said “it would be almost…treasonous.” That kind of scathing criticism of the Fed usually was leveled behind closed doors. In the same Texas tradition, in the 1960s President Lyndon B. Johnson excoriated then-Fed Chairman William McChesney Martin for raising interest. But that … Read more

Politicians Creating Crisis

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Politicians Creating Crisis     As the economy improves and Companies post record profits, the market remains suppressed, Gold is at an all time high and the doom and gloom talk continues. The only real chance of a global slowdown is from politicians addressing their agenda and not the issues. From the USA to Europe we are seeing more and more political posturing and less constructive progress. There are to many Government officials in Europe and the USA that presume they are qualified at some level to speak on the national and international financial system, the fact is most are … Read more

How Offshore Drilling & Oil Subsidies Impact The Price Of Gas

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According to Ben Jervey, the Senate rejected a bill (last night) that would’ve cut about half of the $4 billion-a-year in tax breaks and subsidies to the five largest oil companies. Today, Republicans are advancing a bill to rapidly expand and speed up offshore drilling. In both instances, the relatively high current prices of gasoline are being used to make the case for making life easier on big oil companies. We’ve been spending a lot of time explaining why neither offshore drilling nor oil industry tax breaks have much of any impact on gas prices. Our friends at 350.org just released a great and … Read more