Minimum wage is tricky, right? The Congressional Budget Office (CBO) estimates a minimum wage increase to $15/hr. would create 1.4 million unemployed while lifting 900,000 people out of poverty. What to do? Financial analysts are quick to point out the
Let’s wander down the dark path of Federal Reserve monetary operations for a moment. The Federal Reserve (Fed) creates and destroys money through its transactions with a set of Primary dealers. A primary dealer is a firm which has qualified
With some decades under my belt, I am astounded at the evolution, or in my view, the devolution of Christianity in the U.S. Having been raised Catholic and then converting to Fundamentalist Protestant Christianity during my mid teens, I have
Say whaaat? Federal Reserve Currency Swaps? The swaps are important: the swaps are socialism for the financial sector. The swaps work something like this. During times of financial stress, banks which lend to each other overnight and for other short
Continue reading…Federal Reserve Currency Swaps: Socialism for the Financial Sector
As the world hurtles towards fascism, anarchy and war, many may feel helpless in the face of the powerful and broad forces which move us to our assumed demise. But we need not feel helpless, we, each individual within that
Following this and the next paragraph are two quotes from Tolstoy’s book “The Kingdom of God is within you”. Tolstoy fought in the Crimean War during the 1850’s. He was recognized for his courage and rose to the rank of
Continue reading…Leo Tolstoy: Christian, Pacifist, Anarchist
In light of the current debate in Congress over additional fiscal support for workers and the broader economy, and the debate this has sparked over Federal debt levels, it is important to have a clear understanding of Federal debt issues.
INSANITY The whole crazy system needs to be reconstructed. Recently, across the nation, there have been reports that people are blowing-up the sky with fireworks in anticipation of the 4th of July holiday. It’s become a real problem in some
The Nation is entering a dangerous period. On the Left, there is growing militancy with perhaps a small armed faction; on the Right, there has been a decades long development of well armed militias which historically had been mostly anti-government,
Federal Government spending during the current health crisis has alarmed many analysts and the broader public. While the U.S. as a sovereign power with its own free floating currency has unlimited capacity to spend, there are, of course, practical limitations
