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

Tag Archives: Wall Street

Mass. Senate Race: It’s Going to be Close!

01-15-10_Ted-Kennedy-Scott-Brown

Image by Truthout.org via Flickr

From obscurity to prominence to possible victory, Massachusetts State Senator Scott Brown’s campaign for Teddy Kennedy’s seat in a special election on Tuesday, January 19, is receiving national attention. From a 30-point underdog, Brown has campaigned for the seat—which he says “With all due respect, it’s not the Kennedys’ seat, it’s not the Democrats’ seat, it’s the people’s seat” — with his pledge:  “I will send this [Obama healthcare] bill back.”  And in so doing he has closed the gap so that several prominent pollsters are saying the race is too close to call.

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The Fed: Forever Blowing Bubbles

Girl blowing bubbles

Image via Wikipedia

An article in the New York Times asked that since the Federal Reserve “failed to recognize the last bubble…why should Congress, or anyone else, have faith that future Fed officials will recognize the next [one]?”

The roots of the present Great Recession stretch back to the bursting of the last bubble—the tech bubble—in the late 1990s. As the stock market declined sharply, the Fed under then-chairman Alan Greenspan lowered interest rates in an attempt to keep the economy from collapsing. The Times succinctly noted in its overview of the credit crisis that “lower interest rates make mortgage payments cheaper, and demand for homes began to rise, sending prices up. In addition, millions of homeowners took advantage of the rate drop to refinance their existing mortgages. As the industry ramped up, the quality of the mortgages went down.”

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Economic Reality vs. Cheerleaders

Timothy Franz Geithner, President of the Feder...

When MSNBC headlined the report that existing home sales surged by 7.4 percent in November (according to the National Association of Realtors), it suggested that such an improvement boosted “recovery hopes.” Others jumped on the recovery bandwagon, including Treasury Secretary Timothy Geithner, and former Vice Chairman of the Federal Reserve Board Alan Blinder.

According to Geithner, it’s now reasonable to expect “positive job growth” by spring and correct to assert that people should have confidence in an improving economy.  “I think most people would say the economy actually is strengthening now,” he added.

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Frank Luntz Filters Gun Owners

Frank Luntz

In Monday’s editorial, the New York Times reported the results of a Frank Luntz poll indicating that NRA members are much softer on key issues than the National Rifle Association itself.

Unfortunately, the editorial was rife with filters in the form of hot labels and emotionally-laden words and phrases that immediately impugned the validity of the results of the study.

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Obama, Dems Slip Sharply in Polls

Tea Party Protest, Washington D.C., September ...

Nearing the end of his first year in office, President Obama and his Democratic Party are taking a beating in polls by NBC News/Wall Street Journal and the Washington Post/ABC.

After defying the laws of political gravity for much of his first term, Obama and his party’s poll numbers are starting to reflect increasing public unhappiness over the economy, healthcare, and Afghanistan.

For the first time in his presidency, Obama’s overall approval rating has fallen below 50% to 47%. More of those polled also see the Democrat party in a negative light, and believe the country is “on the wrong track”, with a negative 55% rating, the highest since inauguration.

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Bernanke Claims Economy Recovering

Ben Bernanke
Federal Reserve Chairman Ben Bernanke told the Economic Club of Washington that the economy is recovering, even as it confronts “formidable headwinds.”

He also promoted the Federal Reserve, and the job he is doing as head of the Fed) in an op-ed piece he wrote recently in the Washington Post where he assured readers (and Congress) that “the Fed played a major part in arresting the [financial] crisis, and we should be seeking to preserve [the Fed’s] ability to foster financial stability and to promote economic recovery without inflation.”

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Sarbanes-Oxley and the Separation of Powers

Michael Oxley , U.S. Senator from Maryland.

On Monday, December 7, the Supreme Court began hearing arguments concerning Free Enterprise Fund v. Public Company Accounting Oversight Board (PCAOB).

While perhaps not as memorable as the “date which shall live in infamy,” this case has been called the most important “separation of powers” case in 20 years by Judge Brett Kavanaugh, the dissenter in the 2-1 decision by the D.C. Circuit Court of Appeals that ruled for the PCAOB, prior to the case going to the Supreme Court for review).

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Double Dip Recession Coming?

Double Dip Package

If Will Rogers didn’t say “Those who don’t read the papers are uninformed; those who do are misinformed,” he probably should have.

Witness this headline from The Wall Street Journal: “Jobs, Spending Bode Well for Growth.”

Compared to this from Bloomberg: “Orders for Durable Goods in U. S. Unexpectedly Fall.”

Or this from APNews: “Jobless claims off, spending up in sign of rebound.”

Finally, to confound the confusion, see this from the Denver Post: “Good news raises hopes that recovery won’t fizzle.”

How does one make any sense of it all? Dr. Kenneth McFarland (named America’s Number One Public Speaker by the U. S. Chamber of Commerce in 1965) once quipped that he had read so much about the harmful effects of tobacco and alcohol that he just decided to give up reading!

There is another option: dig deeper.

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Inflation? What inflation?

Huff and puff and...

Image by gorbould via Flickr

We dont have to hire historians to see where deficit spending will take us. We have only to look around now. Since the end of World War II, some of history’s greatest national disasters have taken place right here in the Americas. North Americans used to laugh or shake their heads at the economies of the south that seemed always on the brink of collapse.  Banana republics, we derisively called them. We’re not laughing now.

Here are some examples he provides of inflation lag time:

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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.