Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Category Archives: Economics

Food Crisis Used to Push Global Governance

The original advisory opinion was requested by...

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According to internationally acclaimed author and highly regarded expert Lester Brown, writing in the January 10 issue of Foreign Policy magazine:

Tonight there will be 219,000 additional mouths to feed at the dinner table, and many of them will be greeted with empty plates.

Another 219,000 will join us tomorrow night.

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Fed Insiders Selling Inside Information

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In an effort to plug leaks at the Federal Reserve, the U.S.’s central bank issued a statement yesterday that members of the Federal Open Market Committee “will refrain” from sharing insider information “with any individual, firm, or organization who could profit financially from…that information.”

Since the establishment of the Federal Reserve in 1913, its operations and decision-making processes have been deliberately opaque. In the 1990s the minutes of its policy meetings weren’t made public for

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Food Prices Rocket

Eighty-year-old Dottie Bell is a volunteer at the Community Market food bank in Opelika, Alabama, and every day she sees the impact of high food prices on people in her community.

In the last 12 months, more than 3,000 families have come to her food bank for food assistance. Michael Davis is just one of them. When Dottie asked him for his identification, he pulled out his driver’s license and Social Security card from a worn ZipLoc bag and handed them to her. When she asked when the last time was that he’d eaten anything, he said: “About two days. It’s not a good feeling. You have to

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Economists Are at a Loss; So Are Jobs

Pink Slip

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Once the awful job numbers announced by the Bureau of Labor Statistics on Friday were digested, it was clear that the clairvoyant economists looking into their crystal balls were dead wrong—again.

Most economists were expecting a pickup from May, with job growth estimates ranging from 100,000 to 175,000, and an upward revision on the May numbers as well. Neither happened. A mere 18,000 jobs were created in June, and the May numbers were revised downward from

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Treasury Secretly Exploring Options if Debt Ceiling Isn’t Raised

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Unnamed White House and U.S. Treasury sources told MoneyNews.com that options to handle the government’s debts in the event no debt ceiling deal is reached are being explored, despite official protestations to the contrary.

Mary Miller, Assistant Secretary for Financial Markets, is in charge of paying the government’s bills, and on June 21 she repeated the party line in London to bankers holding substantial American debt that there is no “Plan B,” assuring them that the debt limit would be raised before August 2. Official Treasury spokeswoman Colleen Murray expressed practically the same thing:

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China’s Paper Inflation Stimulus To End Badly

Problem loans at China’s banks are significantly worse than initially thought, according to Moody’s Investors Service’s news release on July 4th. This raises concerns already expressed about China’s continued ability to grow its economy at annual rates approaching double-digits. The weakness is so pervasive that Moody’s

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Greek Austerity to Be Enforced German-Style

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Eurogroup President Jean-Claude Juncker said in an interview over the weekend that the austerity measures being imposed on Greece in exchange for additional bail-out funding from the IMF will result in “the sovereignty of Greece [being] massively limited.” He added, “One cannot be allowed to insult the Greeks. But one has to help them. They have said they are ready to

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Minnesota State Shutdown: Precursor for Washington?

May Day Parade 2010 Minneapolis Minnesota

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After weeks of negotiations between Democrat Governor Mark Dayton and the Republican-dominated legislature, no resolution to Minnesota’s $5 billion budget shortfall was reached and, except for some essential services, the Minnesota state government shut down at midnight, June 30. Governor Dayton maintained that he had done all that he could to meet the Republicans halfway, but he was determined that higher taxes on wealthy citizens was the only way to close the budget gap. He said,

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Internet Sales Tax Collection Gaining Momentum

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When California Governor Jerry Brown (left) signed into law that state’s latest attempt to collect Internet sales taxes from retailers outside the state, he surely must have known he would be hurting, perhaps eliminating altogether, at least 25,000 small businesses. But the opportunity to collect an estimated $200 million in uncollected taxes overrode that consideration. Amazon.com, with gross sales of $34 billion annually, generates much of its revenues through affiliates who offer the opportunity to their customers to “click through” their websites and purchase products from Amazon. In an email sent to its California affiliates on Tuesday, Amazon said:

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Is the Debt Ceiling Unconstitutional?

Charles Evans Hughes (1862 - 1948), lawyer and...

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If the current debt ceiling negotiations fail in time to avoid the drop-dead default date of August 2, liberal law professor Garrett Epps has the answer for President Obama: Ignore the ceiling and keep on spending.

He even has a speech for the President ready to go:

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Lieberman Plans to Kick the Medicare Can

Joe Lieberman Fluffy Flag

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Senator Joe Lieberman (I-Conn.) joined with Senator Tom Coburn (R-Okla.) on Tuesday in announcing their plan to reform Medicare before it goes “broke and take[s] our government down with it.” Noting that Medicare beneficiaries take almost three times more out of Medicare than they ever put in, Lieberman is persuaded that the flawed welfare-state program can be reformed.

With substantial increases in premiums and extensions of age of eligibility, Lieberman said their plan would save $600 billion over the next 10 years, and reduce Medicare’s unfunded liability from

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IMF Wants US Debt Ceiling Raised Immediately

2011MDPresser_Lipsky

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The June 20th report of the International Monetary Fund (IMF) to the United States strongly recommended that the debt ceiling be raised because “if the debt ceiling is not raised soon…[it] would have significant global repercussions, given the central role of U. S. Treasury bonds in world markets. ” In announcing the report, John Lipsky (picture, right), acting managing director for the IMF, said:

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Debt-Limit Negotiations: A Game of Chicken Over Chicken Feed

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When House Majority Leader Eric Cantor (R-Va.) announced he was leaving the negotiations over raising the debt limit on Thursday, he made it clear that he felt he was getting pressured by the Democrats to accept tax increases as part of the deal. He said: “Each side came into these talks with certain orders, and as it stands the Democrats continue to insist that any deal must include tax increases. Regardless of the progress that has been made, the tax issue must be resolved before discussions can continue.”

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Austerity Measures: Greek Entitlement Mentality Faces Reality

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The austerity measures being debated in the Greek parliament are being met with resistance not only by the opposition party but by those most directly affected: Greek workers. At least 20,000 people have begun a 48-hour general strike, bringing to a halt most airlines and public transportation. Even workers at the state-owned monopoly, Public Power Corp. SA, are forcing power outages around the country.

Prime Minister George Papandreou has just barely survived a

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The Fed’s Projections Are Too Rosy, Again

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The economic projections released by the Federal Reserve on Wednesday estimated that in less than two years the unemployment rate would be down to 7 to 7 ½ percent, with the economy growing at an inflation-adjusted rate of nearly 4 percent. And in the next three to five years, the unemployment rate would likely be back to normal: between 5.2 and 5.6 percent.

This is wishful thinking. Okun’s Law (or rule of thumb) says that it’s going to take

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McKinsey Report: Unemployment to Stay High for Ten Years

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Even under the “high-job-growth” scenario offered by the McKinsey Global Institute (MGI), it will take ten years for the U.S. economy to generate the 21 million new jobs necessary to rehire the current unemployed as well as new entrants to the workforce. And the unemployment rate would still be at

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Greek Debt Default All but Certain

International Monetary Fund [oct 25]

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During his interview with Charlie Rose on Bloomberg TV Monday night, Alan Greenspan, former chairman of the Federal Reserve, commented that the chances of Greece defaulting are “so high that you almost have to say there’s no way out…the chances of Greece not defaulting are very small.”

When Greece accepted the invitation to join the European Union in January, 2001, below-market interest rates allowed Greek banks to

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Bernanke: No Economic Recovery Yet; Diesel Index Confirms It

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In what could be one of the understatements of 2011, Fed Chairman Ben Bernanke, speaking at the International Monetary Conference in Atlanta on Tuesday, remarked, “U.S. economic growth so far this year looks to have been somewhat slower than expected…. A number of indicators also suggest some loss of momentum in the labor market.” A number of those indicators were reviewed here and every one of them showed weakness in the economy. However, each of them suffers from a critical disadvantage: They are backward-looking indicators, or “rear-view mirror” views of the economy. None of them is “real-time,” giving a true picture of the economy at that moment in time. As a result, Bernanke left his audience with glittering generalities and modest hopes for the future:

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The Food Crisis Explained (Away)

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Hysterics and Manipulation

When the UN’s Food and Agriculture Organization (FAO) announced its latest round of increases in the cost of food, analysts were nearly breathless in their recommendations for solutions that involved—what else?—more international “cooperation,” under the tender ministrations and control of the UN.

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The Federal Reserve for Kids: Deceptive Q&A

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In 2006 the Federal Reserve decided it was time to begin to reach out and influence middle schoolers with the party line about the Fed, and launched the Federal Reserve Kids Page. Consisting of 10 harmless-appearing questions, either in English or Spanish, the Fed’s answers gloss over, and sometimes deliberately misstate, the correct answers:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.