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: Germany

Standard and Poor’s Extends, Defends and Explains Its Downgrade

Standard and Poor - not the most popular build...

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In a series of expected additional press releases, the Standard & Poor’s credit rating agency is expanding its downgrade of debt securities tied to the now-lower-rated sovereign debt of the United States, including Israeli bondsFannie Mae and Freddie Mac, and “pre-funded” municipal bonds. Other credits tied closely to U.S. sovereign debt are also expected to be downgraded shortly, with only a few exceptions.

Most municipal bond issues are not pre-funded with U.S. Treasury securities, and so they aren’t likely to

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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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Greek Austerity to Be Enforced German-Style

Steel workers protest in Berlin in front of th...

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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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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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The Food Crisis Explained (Away)

Logo of the Food and Agriculture Organization

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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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Greek Austerity, Privatization Programs Won’t Be Enough

George Papandreou

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In its efforts to avoid restructuring (i.e., defaulting on) its debt, Greece announced the sale of some of its assets to raise funds and to satisfy the austerity requirements imposed on the country last March. It is trying to raise $70 billion by 2015. Its efforts won’t be nearly enough.

For sale is the country’s 1/6th interest in OTE, Europe’s largest telecom company, its one-third interest in the Post Savings Bank, all of its interest in the country’s two largest port operators. It will also reduce its ownership shares significantly in

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The Panic of 1893: Boosting Bankers’ Money and Power

Caption said: "MR. J. PIERPONT MORGAN, WH...

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Junius Morgan was, at best, a third-tier English banker in the 1850s, who was fortunate to have had a hand in a number of lucrative financings, mostly for industries seeking seasonal financing. His conservative nature was partly a cause of his lack of distinction. He’d inherited a substantial sum when his father died and was exceedingly careful when risking any part of it. One of the maxims Junius instilled into his son, John Pierpont Morgan, was, “Never under any circumstances do an action which could be called into question if known to the world.”

The two first-tier international banking families were the Baring Brothers and the Rothschilds. Barings financed the Louisiana Purchase and the French indemnity payment after Napoleon’s loss to the Duke of Wellington at Waterloo. So influential was Barings that the Duke of Richelieu commented:

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Portugal PM Resignation Rattles EU

Sócrates

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When the Portuguese Parliament failed to pass an austerity bill on March 23, the country’s Prime Minister, Jose Socratesresigned. That move leaves Portugal leaderless for at least two months while facing a significant financial crisis: it must refinance nearly $13 billion of short-term debt by June. Investors have already pushed interest rates on Portugal’s sovereign 10-year debt to almost 8 percent, while credit-rating agencies Fitch and Standard & Poor’s both downgraded that debt’s quality on March 24.

The European Union (EU) has already bailed out Greece and Ireland, and a top official announced that the EU has the resources to rescue Portugal, if necessary. The bailout would cost an estimated $60 billion to $80 billion.

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Voters: Spending Cuts, Yes; Cutting My Programs, No

The Cato Institute’s massive 262-page study, Downsizing Government, by Chris Edwards, is the most recent offering of suggestions and recommendations for cutting severely the size, cost, reach, power and influence of the federal government in the lives of American citizens. In general, those citizens welcome such suggestions, according to Rasmussen Reports, which announced that two out of three Likely Voters they polled “prefer a government with fewer services and lower taxes rather than a more active one with more services and higher taxes.” Surprisingly this was supported by almost half of those Likely Voters who were also Democrats, along with 67 percent of unaffiliated voters, and 90 percent of Republicans voters.

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The Passing of Aaron Zelman, Founder of JPFO

Ahuachapan 01 - No guns allowed in the park

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When Aaron Zelman, the founder of Jews for the Preservation of Firearms Ownership, died just before Christmas at his home in Wisconsin, eulogies poured in from people Zelman had impacted. One came from Eugene Volokh, who said that Zelman’s “most notable contribution was research pointing out the frequency with which genocide has been preceded by prohibiting arms possession by the targeted victims.”

Zelman’s updated book Death by Gun Control reviews the history of

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Counting the Costs of Unemployment Insurance

Bismarck ca. 1875.

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As part of the backroom deal to extend the Bush tax cuts for another two years, the GOP gave the progressives an extension of one of their favorite welfare-state building blocks: unemployment insurance—which will undoubtedly add to the long lines of suffering Americans in our country.

Otto von Bismarck, the “Iron Chancellor” of Germany in the 1880s, first introduced the concept of state-mandated unemployment insurance. It was then forcibly introduced in the United States during the Great Depression under the Roosevelt administration and has been expanded regularly ever since. In fact, the proposed extension would be the sixth such expansion since June of 2008.

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The Fed: Defending the Indefensible

Cover of "END THE FED"

Cover of END THE FED

In defending the Federal Reserve against what CNBC considered to be “an unprecedented level of attacks,” former Fed governor Frederic Mishkin said it was because of the Fed’s inability to “articulate a clear message regarding its trillion-dollar monetary policies”:

Monetary policy is never easy. You’re always the whipping boy. The question [now] is the degree. Now you’re getting whipped with a little bit harder lash than usual. But you’ve got to make the tough calls….

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World Bank’s Trial Balloon Pops

Deputy Secretary of State Robert Zoellick

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Before the Internet, Robert Zoellick’s brief outline of suggested topics for the G20 meeting this week in Seoul, Korea, might have been considered just an interoffice memo. It appeared in London’s Financial Times, contained obscure references to arcane subjects that would be of interest only to international bankers determined to push their agenda for a world currency, and was written by a certified member of the internationalist “insider” cabal. But when Zoellick wrote that the “cooperative monetary system…should also consider employing gold as an international reference point…,” Internet bloggers picked up on it immediately, and the cover was blown.

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A Primer in Protectionism

Tariff - Anti-Tariff

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Despite opaque and dissembling arguments that what the world needs now is a world currency to replace the weakening dollar, there are significant obstacles confronting that elitist dream. After the IMF (International Monetary Fund) annual meeting in Washington ended, leaders could only conclude that the IMF needed to keep “a close watch on currencies,” using “candor” and an “evenhanded” approach to such observations.

While departing amidst platitudes, the “leaders'” real issue is rising protectionism being waged by its members through currency manipulation. Simply put,

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Great Depression II: Here We Go Again?

The Causes of The Great Depression / FDR Memor...

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The unremitting flow of negative news about the economy has finally caught the attention of the mainstream media, causing an increasing number of economists to make comparisons between today’s recession and the Great Depression.

David Rosenberg, Gluskin Sheff’s chief market economist, commented to his clients that the monster drop in new home sales in June compared to May was not exactly “a one-month wonder” but instead invited comparison of the current recession’s similarities with those of the Great Depression. He said they include:

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Railroads, Robber Barons, and Unbridled Capitalism

Steam locomotive O k (O d )

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When Matthew Josephson wrote The Robber Barons in 1934, he tipped his hand as to his personal prejudice against the capitalists of the late 19th century:

Besides the young men who marched to [the Battle of] Bull Run, there were other young men of 1861 whose instinctive sense of history proved to be unerring. Loving not the paths of glory they slunk away quickly, bent upon business of their own. They were warlike enough and pitiless yet never risked their skin: they fought without military rules or codes of honor or any tactics or weapons familiar to men: they were the strange, new mercenary soldiers of economic life.

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U.S. Postal Service: Time to Free the Mail

WASHINGTON - AUGUST 06:  Postmaster General Jo...

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When U.S. Postmaster General John Potter recommended eliminating Saturday delivery service in order to save money, he was merely responding to the postal service’s continuing inability to make money, or even cover its costs, delivering the mail. In a microcosm, the postal service’s difficulty is reflective of the government’s attempt to operate anywhere outside the constraints of the Constitution.

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Is Social Security a Ponzi Scheme?

Mug shot of Charles Ponzi (March 3, 1882 – Jan...

More than $16 billion of investors’ money evaporated in Ponzi schemes in 2009, according to the Associated Press. Although the names Bernie Madoff and Allen Stanford were in the headlines in 2009, many other Ponzi schemes were uncovered as the economy declined, making continued payouts to investors impossible.

As Warren Buffet said, “Only when the tide goes out do you discover who’s been swimming naked.”

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The National Debt: How Soon Before Uncle Sam Cries “Uncle?”

 

Uncle Sam with empty treasury, 1920, by James ...

When Bob Schieffer of NBC News asked the rhetorical question: “…has going a trillion dollars in hock to one country [China] made us more secure?”, he was reminded of Everett Dirksen (Illinois Senator for nearly 20 years) and his famous comment: “…a billion here and a billion there and pretty soon you’re talking about real money!”.

The current account deficit, at the present moment, is over $12 trillion and climbing. About half of that debt is owned by foreign countries, most notably China (about $800 billion) and India (about $300 billion), with the balance owned by Japan, Germany, and others.

So what’s the big deal?

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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.
Copyright © 2021 Bob Adelmann