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kdakota630 (29.85)

January 2010

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9

Peter Schiff - The Precarious State of Our Union

January 29, 2010 – Comments (1)

In this week's much anticipated State of the Union address, President Obama again demonstrated his poor understanding of the fundamental problems that confront our nation. By following the advice of the same people who helped guide our economy to the precipice of total collapse, Obama now threatens to push it over the edge.

Notwithstanding his well crafted lip service regarding future spending restraint, the essence of his current program is for more government spending and larger deficits. For all his talk about job creation, his policies will further burden those who might otherwise create those jobs with higher taxes and more regulation. While he did call for tax cuts for the middle class and offered what amounts to bailouts for those struggling to repay student loans, such cuts do nothing to promote growth in the near term and will add to the deficits in the long term.   [more]

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8

SEC Mulled National Security Status for AIG Details

January 25, 2010 – Comments (0) | RELATED TICKERS: AIG

NEW YORK--U.S. securities regulators originally treated the New York Federal Reserve's bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters.  [more]

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11

The Documentary Film, America: Freedom To Fascism

January 23, 2010 – Comments (7)

It's almost 2 hours long, but it's well worth your time:

Or:  America: Freedom to Fascism

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13

Peter Schiff on CNBC - January 22, 2010 (and more)

January 22, 2010 – Comments (3)

Peter Schiff - Congress Sacks Samoan Economy  [more]

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Ron Paul - Government is Too Big to Succeed (And More)

January 20, 2010 – Comments (5) | RELATED TICKERS: AIG , GS

Last week, the Financial Crisis Inquiry Commission kicked off their first round of hearings on the causes of the economic meltdown on Wall Street.  The commission is being compared to the the Pecora Commission launched in 1932 to investigate the causes of the Great Depression.  The Pecora commission is beloved by those who believe the solution to every problem is more laws because it was used to justify a number of new laws, including Glass-Steagall.  Of course, none of those laws addressed the real causes of the Great Depression.   It was the introduction of unsound monetary policy and central economic planning pursued by the Federal Reserve that really threw everything off balance.  The Fed was founded in 1913 to stabilize the economy and prevent a recurrence of the short-lived Panic of 1907, but instead it promptly produced the Great Depression which lasted more than 15 years.  [more]

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Peter Schiff Video Blog - January 18, 2010 (American Samoa: The Real Story 60 Minutes Missed)

January 18, 2010 – Comments (2)

Yes, he says it's the 17th, but clearly he meant the 18th.  [more]

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17

Peter Schiff - Poland's Economy is No Joke

January 15, 2010 – Comments (4)

Watching the world’s leaders stumble their way through the economic crisis, it often feels as if political success and economic understanding are mutually exclusive. Even the Chinese, who over the past generation have engineered a dramatic turnaround from their Maoist economic nightmare, show a remarkable willingness to pursue a monetary policy (a currency peg to the U.S. dollar) that yields no benefit to their citizens. Amid this morass of economic quackery, it is refreshing to see a clear ray of sanity emanating from one country: Poland.  [more]

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7

A Little Company Praised by President Obama

January 14, 2010 – Comments (1)

John Stossel - Tonight on my FBN show (8pm EST and 11pm EST), I talk about “crony capitalism.”  That is when Big Business uses the clout of Big Government to get special privileges or protect themselves from the raw competition of the free market.  My first example is the story of a little window manufacturer, Serious Materials:
Full article and video  [more]

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10

What Geithner Will Say in His Defense of the AIG Bailout?

January 13, 2010 – Comments (2) | RELATED TICKERS: AIG , GS

The New York Federal Reserve and Treasury Secretary Tim Geithner may soon testify once again before the House Committee on Oversight and Government Reform over their handling of the collapse of AIG.  [more]

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6

Cell Phones for Foolanthropy

January 09, 2010 – Comments (8) | RELATED TICKERS: BBRY , AAPL , MSI

Admittedly, I have ulterior motives other than Foolanthropy, but if we all benefit, so be it.  [more]

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13

Peter Schiff - It's Not Our Fault

January 08, 2010 – Comments (1)

It seems that the primary qualification needed by any chairman of the Federal Reserve is the ability to never admit error, no matter how damning the evidence. During his tenure on the job, Alan Greenspan set the standard for implausible deniability. But in a speech last weekend in Atlanta, current chairman Ben Bernanke did the Maestro one better. In a tortured academic dissertation, Bernanke explicitly denied any Fed culpability for inflating the housing bubble and for the financial crisis that began when it burst. Despite his best efforts, no one seemed particularly convinced. By taking such an absurd stand, he has destroyed any credibility he may have had left.  [more]

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