Credit

Greenspan, The Fallen God

Fri, 10/24/2008 - 10:30am | posted by Austin Wilkes

For years liberals, conservatives, independents, DC, Main Street and Wall Street seemingly defied all normality and not only embraced, but nearly worshiped the same individual, Alan Greenspan. After rising in 1987 to the position of Chairman of the Federal Reserve, the most powerful financial position in the world, he presided over the most sustained period of economic growth in the history of America. He rode the wave of private sector technological achievements that created abnormally high productivity growth. To many it was his greatness that brought about the increase in income, increase in homeownership, increase in credit, increase in all things material — while still maintaining price stability.

Unprecedented New FED Tactics

Tue, 10/07/2008 - 3:23pm | posted by Austin Wilkes

Today the Federal Reserve invoked “Emergency Powers” in order to further expand its reach into the economy. There are many inherent problems with central banking. There are even more problems with central management of the day to day workings of the economy. Seeing the recent devastation in the credit markets - which was mostly created by the FED - the FED has been trying desperately to contain the situation, but its traditional policies are just showing little to no results.

The Housing Bubble and the Environment: Unintended Consequences

Tue, 03/17/2009 - 6:37am | posted by Dr. Charles Kennedy

An article in the Sunday, March 15 edition of The Birmingham News, entitled “Lots crumble and mud flows”, discusses some of the complications resulting from the plethora of unfinished housing projects that have been put on hold in the current economic crisis. The problems include excessive runoff and mud flows, crumbling roads without a final seal coat, empty houses in various stages of construction, construction debris posing safety hazards, and other various forms of pollution. Curiously, nowhere in the article does its author acknowledge that most of these housing construction projects are the result of a housing bubble.

Ron Paul: “The Federal Reserve is the culprit!”

Thu, 02/26/2009 - 11:45pm | posted by Dr. Charles Kennedy

This video of Ron Paul’s powerful speech on the floor of the House of Representatives on February 25, 2009 speaks for itself. Congressman Paul makes the case, point by point, in easy to understand terms, that the Federal Reserve system is immoral, deceptive and destructive, creating economic chaos and giving rise to political instability. He concludes by saying, “Let’s end the Fed!”