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Archive for July, 2013

Out of the mouths of babes: “Why does the Fed print money if it causes inflation”?

30 Jul

This summer I have been teaching a twice a week financial literacy seminar for high school sophomores at Ramapo College.  The students from Paterson, one of the state’s relatively poor urban centers, are going to class five days a week for Math, Science and other subjects.

Today, we discussed some basic concepts about investing,  I began by asking students if consumer prices will probably increase in the future.  I said that higher prices will lower their living standards if their salaries and/or other income do not keep up with the decline in the dollar’s purchasing power.  I then mentioned that the Federal Reserve is responsible for higher prices because they “print money,” or, as I like to say, the Fed has an unlimited checking account, which allows it to create new money that enters the economy through the banking system and causes prices to rise.

As we were finishing this segment, one student raised his hand and asked: “Why does the Fed print money if it causes inflation”?  I said that is the $64 million question.  The Fed thinks printing money will stimulate the economy and create jobs and produce prosperity.  I told the class to come to Ramapo College and take my Financial Markets and Institutions course so we can discuss this further.

Youngsters get it.  Creating money causes price inflation.  If only Bernanke et.al., knew as much as high school sophomores, then the Fed’s unlimited checking account would be retired.

 
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Posted in Federal Reserve

 

Steve Lonegan is a neoconservative. Why is Paul Mulshine supporting him?

28 Jul

Steve Lonegan is getting good press—again–from Star-Ledger pundit Paul Mulshine.  Mulshine asserts that Lonegan, a GOP candidate for the U.S. Senate seat in the August primary, is a hard-core civil libertarian and advocate for limited government constitutional principles.

Read the rest of this entry »

 
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Posted in Federal Government, New Jersey

 

Letter about NSA spying

26 Jul

The following letter appeared in The Record (July 26).

NSA surveillance violates Constitution

Regarding “Limiting NSA data collecting will harm us” (Other Views, July 23):

That was one of the most egregious columns I have read in decades. The author, a former Justice Department official, asserts that the National Security Agency must continue its blatantly unconstitutional program of metadata mining to keep the American people safe from terrorist attacks.

The author writes that “protecting the United States from foreign attack is the core mission of the federal government, and a catastrophic failure in that mission could threaten the liberties we all cherish.”

The attack on Americans at home and abroad is the result of blowback, the CIA’s term for the violent acts by young, Middle Eastern individuals, which are the direct consequence of the federal government’s interventionist policies in that part of the world. In short, these attacks will continue as long as our government believes it has the right to station troops in the Middle East and invade countries that are no threat to our national security.

By treating all Americans as potential terrorists at our airports and collecting all our communications, our government is trampling on our liberties. As James Madison warned us more than 200 years ago, “If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy.”

Murray Sabrin

Fort Lee, July 24

The writer is a former candidate for governor and other New Jersey offices.

 

 
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Posted in Uncategorized

 

The benefits of Conger LH

24 Jul

The latest video testimonial about Conger, the world’s first Lubrihibitor.

 

 
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Posted in Uncategorized

 

Connecting with investigative journalist Ben Swann

15 Jul

I spoke with former Fox TV (Cincinnati affiliate) journalist Ben Swann today via Skype about his Truth in Media project.  Ben is in the process of raising funds to provide an alternative to the mainstream media. His website, http://benswann.com, gives an overview of his activities since he left Fox.  We chatted for nearly an hour about how the MSM is losing audiences and that the future of news will be on the Internet.

To help Ben with his project,  please visit, http://www.kickstarter.com/projects/439668500/liberty-is-rising-truth-in-media-project-0.

In an update, Ben wrote:

Friends,
I am so honored by the nearly 4,000 people who have contributed over a quarter of a million dollars in just over 30 days to the Truth In Media project! Kickstarter is an all or nothing deal which means that if we do not reach the 1.25 million in 10 days (and we almost certainly will not) then your credit card will not be charged.
Here is where I would like to ask for your help once again. With the $267,000 dollars we have raised already, we have reached 20% of our goal. While we cannot produce 100 episodes of Ben Swann Full Disclosure, we could do a scaled version of this plan and roll out 20 episodes.
Here is what I propose. If you go to http://www.benswann.com there is an option to donate via paypal. If we can move the $267,000 in backing to paypal we will not have to pay the kickstarter and amazon fees. We WILL still honor the rewards from here on kickstarter.
There are 1007 of you who have pledged various amounts with no reward selected. You are in fact the largest single group of backers standing with Truth in Media. If you would simply move that backing to Paypal, we can move this project forward together!
LibertyisRising!
 
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Posted in Uncategorized

 

Press Release

07 Jul
 
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Posted in Uncategorized

 

Putting gold in perspective

03 Jul

Money manager Frank Holmes on the recent decline in the price of gold.

 
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Posted in Uncategorized