Archives for: Barack Obama
Hillary Clinton’s Vast Right Wing Conspiracy and The Military Industrial Complex
by Mitch Feierstein about 4 years 9 months ago
On January 17, 1961, 58 years ago, President Dwight David Eisenhower* gave his farewell address to the nation. In his speech, Eisenhower recognized that after WWII, the United States was “compelled to create a permanent armaments industry” and build up a gigantic military force. The Cold War made clear the “imperative need for this development,” […]
RNC Chairwoman Blasts Michelle Obama for Calling GOP “All Men, All White”
by Mitch Feierstein about 5 years 11 months ago
Neither Michelle Obama, Barack Hussein Obama, or Hillary Clinton will go away. Why does the media keep giving them a platform and allow them to continue to encourage and enable division in America? The former First Lady’s latest attention-grabbing stunt was to dismiss the entire GOP as entirely male and white. Needless to say the […]
Capitalism Without Bankruptcy is Like Catholicism Without Hell
by Mitch Feierstein about 7 years 5 months ago
Barack Obama was recently on the stump, defending the latest set of lackluster jobs figures. Obama blamed ‘serious headwinds’ including higher gas prices and, more recently, the developing crisis in the Eurozone. Having handed much of the blame to foreign oilfields and European crises, he returned to more familiar ground, bashing a Republican-controlled House for blocking some of the proposals in […]
An America divided against itself: US debt is way past the ceiling
by Mitch Feierstein about 7 years 5 months ago
Barack Obama made a speech recently pledging his opposition to (yet another) game of chicken over America’s debt ceiling. “This is the United States of America,” he told his audience. “We’re not some banana republic. This is not a deadbeat nation. We don’t run out on our tab. We’re the world’s bedrock investment – the […]
Too little reform, central bank risk and banking fraud – have we not learnt anything?
by Mitch Feierstein about 8 years 3 months ago
Henry Paulson. “Hank”. Remember him? Lean, balding, the flared nostrils of a man perpetually haunted by the memory of having to clean dog’s mess from the shoes of his neighbour’s children. Of the crisis in 2008, he said, “Where I come from, if someone takes a risk and they’re going to make the profit from […]
We must take a stand against lies, damned lies and statistical data
by Mitch Feierstein about 9 years 9 months ago
Last week, a brave police constable told a startled Parliamentary select committee that crime statistics were being artificially manipulated to keep recorded crime on its downward path. In one remarkable exchange, the committee’s chair, Bernard Jenkin, asked: “This [the police process] would finish up with trying to persuade a victim that they weren’t raped, for […]
Firms too big to fail before, like JPMorgan, are bigger now – and not any safer
by Mitch Feierstein about 10 years 2 weeks ago
On 15 September 2008, Lehman Brothers, a “bulge bracket” investment bank, filed for bankruptcy. That should have been no big deal. The failure of a single, poorly run institution should have had no broader effect on the domestic US economy, let alone the global one. Things didn’t pan out that way. Lehman Brothers was the […]
Numbers Never Lie — Central Bankers, Politicians and Lawyers Do — Is the Fed Conspiring Against Us?
by Mitch Feierstein about 10 years 5 months ago
The dual mandate of the Federal Reserve is a good one. It is charged with ensuring stable prices and maximum employment. That’s a good basic recipe, one which served the country well. And notice what isn’t there. The Fed is not charged with distorting natural market pricing mechanisms to the point of perverting risk. It […]
The Fed’s Nuclear Balance Sheet. Stand Back: This Baby’s Going to Explode
by Mitch Feierstein about 10 years 10 months ago
Over the coming weeks, we’re going to be hearing a lot about the ‘fiscal cliff’: the threat that some 5% of GDP is going to be ripped out of the economy in a combination of tax hikes and spending cuts. A fiscal slow-down on that scale will almost certainly trigger recession. The CBO thinks so, though their numbers look […]
by Mitch Feierstein about 11 years 3 weeks ago
Last week, the Bank of England declared its intention to print another £50 billion. Hardly anyone noticed. That £50 billion will bring the Bank’s total money printing to around £425 billion, or about one quarter of British GDP. No one cares. This evening, the U.S. Federal Reserve will announce its own plans for another […]