On September 10, 2001, then Secretary of the Department of Defense Donald Rumsfeld said that for the 1999 DOD budget, “According to some estimates, we cannot track $2.3 trillion in transactions.” The War On Waste The following day the US sustained the terrorist attacks that forever changed our world, and this startling revelation was largely […]
Swan Song Of The Central Bankers, Part 2: Yellen’s “My Girl”…
If you wonder why things are going to get a lot worse before they get better—just consider the following tidbit from today’s political gleanings. It essentially cements the case that Washington is heading straight into a bond market conflagration that will wreak havoc on the Wall Street end of the Acela Corridor. It seems that […]
Fed’s Crackdown on Wells Fargo Will Curb 2018 Profit by $400 Million…
The Federal Reserve’s decision to cap Wells Fargo growth until it sufficiently improves corporate oversight in the wake of a fake accounts scandal will curb the lender’s profit by as much as $400 million this year, CEO Tim Sloan said. The directive, announced after the close of New York trading on Friday, requires the San […]
U.S. GDP Annual Rate Increases to 2.6 Percent…
Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based on […]
Senate Approves Jerome Powell as Fed Chair…
The U.S. Senate on Tuesday voted to confirm Jerome Powell as the next chairman of the Federal Reserve. Powell will assume the role of the central bank’s top official in February, replacing Janet Yellen, after the Senate voted 85-12. President Donald Trump chose Powell, a member of the Fed’s board of governors, as his nominee […]
Nomi Prins’ New Book: Central Banks Have Become the Markets…
Nomi Prins’ latest book, Collusion: How Central Bankers Rigged the World, ensures her place as one of this century’s most informed Wall Street historians. It’s the perfect segue from Prins’ earlier “It Takes a Pillage,” and her 2014 book All the Presidents’ Bankers. If you are serious about understanding the corrupting influences that have left […]
Consumer Watchdog’s Latest Budget Request: $0…
The Consumer Financial Protection Bureau’s acting director, Mick Mulvaney, intensified his efforts this week to curb an agency he has denounced as a regulator run amok. His latest tactic: starve it of cash. The consumer bureau is funded directly by the Federal Reserve and sends the central bank a request each quarter for money for […]
Fed Raises Interest Rates and Continues to Foresee Three Hikes in 2018…
The Federal Reserve on Wednesday lifted a key U.S. interest rate, but the central bank also struck a wait-and-see stance in light of persistently low inflation and a pending change in leadership. As widely expected, the Fed raised its benchmark federal funds rate by a quarter percentage point to between 1.25% and 1.5% — the […]
Abracadabra! – Uncovering The Fed’s ‘Magnificent Fraud’…
NY Fed Raises GDP Forecast, DOW Closes New Record…
Almost too much winning… almost, but I think we can take it. The New York federal reserve has raised their anticipated fourth quarter GDP growth forecast to 3.8%. That’s only a week after previously raising it to 3.2%. The Stock Market closes again at yet another all time high today…
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