Thomas R. Eddlem
Free-market financial analyst, author and radio talk-show host Peter Schiff made some waves online with his baiting of delegates at this week's Democratic National Convention. Schiff, microphone in hand, trotted down to the DNC confab in Charlotte, North Carolina, and asked delegates to agree to a platform change to ban all corporate profits. About half of those filmed on his YouTube video, which already has more than half a million views in just a few days, did agree.
Federal Reserve Chairman Ben Bernanke signaled that the Fed would return to another round of “quantitative easing” (QE) in his August 31 annual address from Jackson Hole, Wyoming, a speech that also claimed economic success for the Fed's past two QE purchases of federal debt securities.
The Republican National Committee tentatively ruled to strip Texas Congressman Ron Paul of half of his delegates to the Tampa national convention next week.
Paul came in a close second to Romney in the February/March county caucuses (the vote difference was less than 200 votes, less than two percent of the total), but Paul supporters were able to organize and gain the upper hand in the May state party convention that actually selected the delegates.
When Americans vote for president this November, their choices will not be limited to the standard-bearers of the two major political parties.
Many Washington conservatives swooned when presumptive GOP presidential nominee Mitt Romney picked seven-term Wisconsin Congressman Paul Ryan as his vice presidential running mate, but Ryan has a long history of supporting multi-billion dollar taxpayer bailouts of giant corporations.
Supply Side economics school godfather Arthur Laffer penned an op-ed column for the Wall Street Journal August 6 that claims increases in government spending inhibited economic growth during the recession, as indicated by a study showing "increases in government spending from 2007 to 2009 and subsequent changes in GDP growth rates. Of the 34 Organization for Economic Cooperation and Development [OECD] nations, those with the largest spending spurts from 2007 to 2009 saw the least growth in GDP rates before and after the stimulus."
Reindeer farmer and high school teacher Kerry Bentivolio easily prevailed in a Michigan GOP congressional primary August 7 to replace U.S. Rep. Thad McCotter against a well-funded establishment insurgency by former state senator Nancy Cassis, 66-34.
Bentivolio did have a significant advantage in the race: he was the only one on the ballot after the incumbent McCotter failed to submit enough signatures to get on the ballot this year. McCotter later dropped out of the race. When the high school teacher became the likely GOP nominee, the GOP establishment rallied against the Ron Paul fan and Federal Reserve critic, eventually settling on Cassis, who put up $200,000 of her own money in what turned out to be a failed write-in campaign. While Cassis had the endorsement of much of the GOP establishment, Bentivolio had won the endorsement of Texas Congressman Ron Paul, his son Kentucky Senator Rand Paul, and Michigan Congressman Justin Amash.
President Barack Obama and presidential hopeful Mitt Romney are in the public eye almost every day, but few Americans can tell where they differ and where they're alike. The New American has put the differences and similarities together for you.
WikiLeaks' “Syria Files,” 2.4 million emails purloined from anonymous Syrian government sources, seem destined to have a greater impact on the West than on Syria. The headlines thus far have left a black mark on the U.S.-based Vogue magazine as well as the New York City-based public relations firm Brown Lloyd James.