Congressman Connie Mack (R-FL) today announced that he will be introducing to the House a resolution for a vote of no confidence in Treasury Secretary Timothy Geithner. This vote mirrors the Senate proposal by Sen. Rand Paul last night. The measure points out Geithner’s mismanagement of the U.S. economy as the reason for the vote [...]
It may already be happening. Recently released US Treasury data shows China has been actively reducing its holdings of Treasury debt. China has cut its holdings by $100 billion over the past year to just $844 billion. China has been seeking new ways to recycle its trade surplus and hold back any rise in the [...]
I was young, but I remember the news stories and the dire warnings from family friends, parents and uncles: Japan owns us .. and they may not always want to. Yeah, that was a long time ago and a major player has changed, but the warning is still relevant. Before the Japanese asset price bubble [...]
The specter of deflation is looming. Federal Reserve chief Ben Bernanke, the President’s economic advisor Paul Volcker (remember him from the Carter years?), and Treasury’s Timmy Giehtner are all worried that the inflation they have been trying so hard to elicit isn’t coming fast enough – or at all. While inflation is what happens when [...]
In the Government Accounting Office’s October “Report to Congressional Committees” on TARP, it is apparent that TARP’s success.. isn’t that apparent. The report recommends filling important positions with permanent staff instead of the consultants currently manning them, but what really stands out is when the GAO attempts to quantify the success of the program. The [...]
The combination of federal efforts to combat the financial crisis coupled with mortgage assistance programs makes the taxpayer the ultimate guarantor of a large portion of home mortgages
I realize that I would have to wait in a fairly long line to call Ron Paul a paranoid, old-thinking, isolationist psycho, and I’d gladly take the wait just to have the opportunity. But, Paul has been pushing for a congressional audit of the Federal Reserve for more than two decades and he might just [...]
