The last standing primary lead smelter in the United States will be closing in December — thanks to the federal Environmental Protection Agency’s continuing war on American industry. As a consequence, the costs of batteries, ammunition, and hundreds of other lead-dependent products will climb.
Janet Yellen, President Obama's choice to succeed Federal Reserve Chairman Ben Bernanke next year, is among a number of influential economists who would welcome a higher rate of inflation to boost a stagnant economy and reduce unemployment.
The left-leaning Brookings Institution admitted in an October 31 report that the Obama administration's “Cash for Clunkers” program was an almost complete waste of billions of taxpayer dollars. The report concluded that the 2009 subsidy for new car buyers had no measurable long-term impact on economic growth and cost $1.4 million for every “job-year” that was created under the program.
Recent comments by the head of the Bank of England, the U.K.’s powerful central bank, offered further evidence that Western central bankers are preparing to shower even greater quantities of fiat currency on private banks and financial institutions — all at public expense. Already, tens of trillions of dollars’ worth of debt-based currency has been created out of thin air by the Federal Reserve, the BoE, the European Central Bank, and other central banks to prop up private mega-banks and wild spending sprees by government amid the economic crisis. With help and guidance from the BoE’s new governor, Mark Carney, analysts say all of that is set to accelerate.