In an interview with CNBC this week, the infamous investor said it all comes down to debt. Our country is borrowing somewhere around a trillion dollars a year, and it doesn’t take a super investor to figure out what’s coming.Read More
George Will has noted, the curious journalistic acceptance of the Fed’s increased powers “…semantic infiltration of journalism by language that ratifies the Fed’s increasingly grandiose role. A Financial Times column on Yellen, now Bernanke’s presumptive successor, described her as “poised to take the tiller of the US economy.” Oh? The economy has a tiller? And with it the Fed chairman can steer the economy? Who knew?” Free markets with tillers. Interesting concept, and it has been cleverly and stealthily slipped passed the goal line.
Nothing in the Fed’s mandate directs the Fed to “tiller” the economy. Its new powers are a result of confiscatory creep. Stock market going up, all good. Gone, or ignored, is any language that encourages savings, defends the value of the dollar, or, as mentioned in its mission statement, provides “moderate” interest rates.Read More
The House of Representatives’ constitutional duty is clear. It is to appropriate spending through spending bills. The process begins in the House, is taken up by the Senate, and is then signed into law by the President.
Simple! Unless you are a D.C. politician.Read More
His predecessor’s name is etched onto all sorts of things in this conservative South Carolina district. A water treatment plant in Chesterfield. A bridge in Rock Hill. On a recent visit home, Mulvaney rolled through the gate at Shaw Air Force Base and spotted another. It’s a gleaming, $5 million brick-and-glass structure: The John M. Spratt Education Center.Read More
If you are driving along and suddenly see a big red rubber ball come bouncing out into the street, you might want to put your foot on the brake pedal, because a small child may well come running out into the street after it.Read More