If anyone doubts that the Western world's monetary order is rigged to enrich the banking system, the first quarter financial reports of America's top banks should disabuse any unbelievers. The Financial Times reported that four of the five big U.S. trading banks had a combined revenue of $19.4 billion … Continue reading Big Banks Profit While Main Street Suffers
In recent remarks to the Senate Banking Committee, Federal Reserve Chairwoman Janet Yellen was her typical evasive and non committal self when the topic of interest rate hikes were broached. When the subject of potential oversight of the Fed came up, however, Ms. Yellen became … Continue reading Don’t “Audit the Fed,” Abolish It
A recent World Bank report warned of rising global food prices as if a study (no doubt an expensive one) is needed to explain what everyone who buys food or, for that matter, any commodity, is keenly aware of. "Food price shock," the report cautioned, "can both spark and exacerbate conflict and political instability, and … Continue reading The World Bank and Rising Food Prices
There is no bigger misconception held among the financial press and within academia than that of consumer spending. A typical example of this comes from a recent Reuters release entitled: “Strong Consumer Spending, Factory Data Buoy U.S. Growth Outlook.” The first sentence of the article reads, “U.S. consumer spending recorded its largest gain in more … Continue reading The Consumer Spending Myth
Antonius Aquinas 