Fed Rate Near Zero, What’s In Your Wallet?

The Federal Reserve’s rate has been approaching zero for some time. In the current pandemic induced recession, the Fed needs to use other tools to prop up the economy…since it is loathe to go to negative interest rates. And in the meantime many Americans are unemployed or under-employed and that…

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The Balanced Budget Amendment…

Former Governor Scott Walker is of course still on his crusade for a federal balanced budget amendment to the Constitution. Just as recently…as yesterday! While the president, his cabinet, and the senate are proposing cash payments to Americans to provide economic support during the economic catastrophe resulting from the COVID-19…

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Fed Is Wasting Their Time.

The Federal Reserve cut their rate by 50 basis points today…the goal is to boost confidence in the US economy. Well it isn’t going to have much effect on the stock market and it’s a waste of time if they want to spur economic activity. Usually the Fed lowers rates…

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So Is The Economy Robust Or Not?

That might be a little confusing if all you are working with is the president’s tweets. Last week the economy was roaring because of the president…great employment rate…record Dow…you know stuff like that. He managed to intimidate the Fed into lowering their benchmark rate. Bigly robust economy. And then? Any…

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The NY Times Is Wrong On Janet Yellen and Donald Trump

Today’s New York Times laments the fact that President Donald Trump didn’t reappoint current Federal Reserve Board Chairman (her title preference) Janet Yellen to another term. It has been traditional for the new incoming president to retain the Fed chair…a tradition that apparently goes back 40 years. And it really…

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At the Heart of Fed Monetary Policy: A Fallacy!

Heterodox economist L. Randall Wray takes Ben Bernanke to task for a failure of comprehension.  The whole article, while a bit wonkish, is certainly worth a read.  Wray does an excellent job explaining, in a few paragraphs, how modern monetary systems (fiat currency based) actually function (as opposed to how the…

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Wisconsin Economy Improves Despite Republican Policies

Good news for the state, the two state-level indicies of economic activity in Wisconsin are finally, after a year, pointing in the right direction.  While many will attempt to credit Walker for this movement, one should remember that for many months, Wisconsin lagged far behind the rest of the nation…

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Do You Want to Play a Game?

Ready?  Here we go! Question: What do Rhode Island, Louisiana, Wyoming, Hawaii, Alaska and Wisconsin all have in common?

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We Don’t Need to Kill the Federal Reserve, We Need a BETTER Federal Reserve

Ron Paul is famous for bemoaning (“be-whining?”) the control the Federal Reserve has over the economy and has committed to ending the Federal Reserve if he’s elected President.  Of course he will never be elected President.  Overt racists haven’t held the Presidency since Wilson (although Nixon was certainly a closet…

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Ben Bernanke Gets his Dander Up!

It isn’t often you hear a Fed Chairman be quite so direct.  Or sound so desperate.  It’s a little unsettling.

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