Economics

currencyThe Ludwig von Mises Institute’s Howard S. Katz has revealed that the Federal Reserve Bank has inflated the U.S. currency to unprecedented levels since September 2008 and that it is hiding the fact. Katz cited a Federal Reserve letter he received in response to an inquiry where the Fed admitted that its Open Market Committee stated it “has increased the Fed balance sheet to levels never before seen.”

spending moneyJust days after Vice President Joe Biden told George Stephanopoulos that it was “premature” to push for another “stimulus” spending bill, Obama economic adviser Laura D’Andrea Tyson told a seminar in Singapore on July 7, "We should be planning on a contingency basis for a second round of stimulus." Though Tyson is a member of Obama’s Economic Recovery Advisory Board, she said in the speech she was speaking for herself and not for the administration.

Opportunity Cost

President Barack Obama was recently called upon to defend his track record of predictions made while selling his “American Recovery and Reinvestment Act” (ARRA) “stimulus” package.

interest ratesThe Congressional Budget Office (CBO) informed Rep. Paul Ryan, ranking Republican member of the House Budget Committee, that President Obama’s budget under-reported (and the CBO itself) the national debt in Obama’s budget by trillions of dollars by predicting unrealistically low interest rates on the national debt in a June 30 letter. Obama’s budget planned to increase the deficit from the current $11 trillion to more than $23 trillion. The CBO letter admits that those estimates may be optimistic by as much as $5.6 trillion.

At a United Nations climate meeting in Bonn, Germany, world leaders proposed a levy on long-haul air travel as a way to raise money to supposedly help less developed countries adapt to alleged anthropogenic (human-caused) “climate change.” If the proposal were to become reality, the United Nations would be able to supplement “contributions” from member nations with its own international tax, something world-government promoters have dreamed about for decades.

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