Fed insists more time is needed for economic improvement

While the attention of most Americans had been diverted this week either because of Donald Trump taking credit for “discovering” President Obama’s birth certificate, or Prince William and Kate’s Royal Wedding in Britain, we have an incompetent Federal Reserve that is completely out of control.

The International Monetary Fund stated on Monday that China will be the world’s largest economy by 2013, surpassing the United States because of the Fed’s reckless monetary and fiscal policies.

So I guess this information prompted Federal Reserve Chairman Ben Bernanke to do something for the first time in the Fed's entire history: Hold a press conference to address our nation’s economy, inflation and how we seemingly print money out of thin air.

Of course I’m joking. Do you really think Fed Chairman Ben Bernanke would spend his time vigorously addressing any of those issues?

At least on more than one occasion this year, the Obama Administration insisted major growth of our economy. Not true. According to Ben Bernanke, anyway.

Bernanke did say that the United States economy grew by a mere 1.8% in the first three months, but has not recovered from the deep recession stemming from 2008. Additionally, the nation’s unemployment is now 8.8% from 10% it was over a year ago. However, this has been employment growth has been in the public sector, not the private sector, as the government would want you to believe.

Bernanke also indicated that housing markets are still in decline and families continue to face foreclosures nationwide.

Despite the fact that he is slightly coming clean about our continued depressed state of affairs and that our $1 trillion deficit and $14 trillion national debt is unsustainable, Bernanke still wants Americans to buy into his philosophy that everything will be fine and dandy. If anyone actually does buy into Chairman Bernanke’s thoughts on our nation’s economy, maybe they need to be drug tested. This is the same Ben Bernanke, who in 2005, mentioned that housing prices would not drop substantially, and the same Ben Bernanke, who during the sub-prime mortgage crisis, said that those housing issues would not spread into larger mortgage markets, which were believed to have been much healthier.

The man’s track record and countless lies are simply incredible. How much time does Bernanke need to improve the U.S. economy? He says there is little control over gasoline prices, but the Fed continues quantitative easing and yet the dollar continues in rapid decline.  Does any of this make sense? Has he taken economics 101?

Despite the current problems with inflation and devaluing of the dollar, the Fed had absolutely no problem on transferring more than $550 billion to central banks overseas that Americans have never even heard of.

I hope Congressman Ron Paul is able to gather enough co-sponsors so that legislation will be introduced to look into the Fed’s policies and an internal audit conducted to see what the hell has been going in this counterfeit operation. Many Americans, I'm sure will be furious. 

Newt Gingrich's affairs were for America

There are many clowns in the Republican Party that will probably be seen on the GOP Presidential Ticket in 2012. Mitt Romney is identified as a Socialist Republican; Sarah Palin is a joke, Mike Huckabee talks too much like a televangelist and Newt Gingrich screws around too much... literally!

The former House Speaker who has admitted publicly of his affairs having been married three times told CBS News "There's no question at times of my life, partially driven by how passionately I felt about this country that I worked far too hard and that things happened in my life that were not appropriate."

While in Congress, Gingrich proposed to his second wife while he was still married to his first wife who was being treated for cancer. He then had an affair with his then soon to be third wife, while still married to his second wife. He went on to say "I cheated on my wife because of my love for my country."

 In other words, Gingrich's screwing around as an elected public official was nothing more than a generous service to America. The impeachment of President Clinton for his screwing around with Monica Lewinsky which Gingrich initially laid out the carpet for, is nothing in comparison.

I wonder if Gingrich will get the same heat that John Edwards received?


Nevertheless, Republicans are standing behind Newt Gingrich as a most likely contender in the 2012 Presidential Race. Those in the GOP should do a little investigating on the candidates they're going to support and eventually vote for.

Right now, with the exception of Ron Paul, none of them look very appealing to me.

112th Congress convenes with Boehner as Speaker

As the 112th United States Congress resumed today, Republican lawmakers cheered as Ohio Congressman John Boehner filled the post as the new Speaker of the House, replacing Democrat Nancy Pelosi, who proved herself worthy as perhaps the worst House Speaker this country has ever had. Under her reign over two years of the Bush Administration and two years of the Obama Administration, Congress has for the most part achieved nothing, except for play rubber stamps and continue to spend money into oblivion, thus moving this country to the brink of near bankruptcy.

So with Mr. Boehner as Speaker, Americans are trying to appear optimistic and hope for a sense of real change that Congress can finally move forward and actually get work done.

But it appears that a blood bath is already lying ahead. Republican leaders are already vowing to repeal Obama's controversial Health Care Law and are wanting to investigate the Obama Administration's rather unethical efforts in the last two years. Of course, I sincerely doubt that Republicans will be successful in repealing the Health Care Law, because the Senate is still controlled by the Democrats and President Obama can always veto the bill and they don't have the necessary 2/3rds majority to override a veto by the President.

Nonetheless, I would give Republican lawmakers a great deal of credit if they do move forward on attempting to repeal the law. The bill is largely unfavorable among most Americans and they simply cannot afford it. Personally, I would have supported a public option but not a mandate that every American has to buy health insurance. It is obvious that there are some provisions in the bill that are good and some that are clearly bad.

But Americans are hoping the top priority of the new 112th Congress will be fixing the economy and many of them are not looking forward to more of the same political bickering among Democrats and Republicans. They want wasteful government spending cut and more transparency in their government, something that both now-former Speaker Pelosi and President Obama failed to fulfill in the last two years.

There will be some new changes in the Congress when it does come to transparency in government. For example, Congressman Ron Paul will be chairing the House Monetary Policy Committee and will most likely have stronger oversight and a chance to audit the Federal Reserve, which is something people have been waiting far too long for.

Here's to a new year in American politics.

Hopefully this year, work will be done for once.

Ron Paul to Chair Monetary Policy Subcommittee

Republican/Libertarian Texas Congressman and former Presidential Candidate Ron Paul, one of very (and I mean VERY) few people in our Federal Government that actually supports the Constitution and individual freedom, will become Chairman of the Subcommittee on Domestic Monetary Policy when the new Congress takes control in January.

This means that he will have more power to issue subpoenas on the Federal Reserve, including an audit of the entire organization, which by the way is something that has never been done since it was established in 1913, nearly 100 years ago.

While the new Chairman Paul will need formal approval of both the Chairman of the Financial Services Committee and the newly elected Speaker of the House John Boehner to issue such subpoenas, once they are approved, the American people will finally know the truth as to what the hell has been going in the Federal Reserve System, their monetary and fiscal policies domestically and its relationships with central banks and bailouts to Wall Street firms.

Congressman Paul has been getting support on introducing the audit from even Democrats in the House, including Congressman Allan Greyson of Florida and Congressman Dennis Kucinich of Ohio.

Now Federal Reserve Chairman Ben Bernanke and the Weasel Secretary of the Treasury Tim Geithner say any audit of the Fed would be a bad idea, yet they both have not offered any formal explanation as to why it would be a bad idea.

Are they protecting the globalists? Probably.

Do they not want the American people to know how our monetary and fiscal policies have been handled? Definitely.

Earlier this month, the Federal Reserve was forced to finally release documents involving the bailouts of some of the financial institutions, something that Congressman Paul has been pushing for quite some time. The information is breathtaking. Goldman Sachs took out $18 billion in credit from the Federal Reserve over the course of 84 times, Deutsche Bank of Germany sold the Fed over $290 billion in mortgage securities, while Credit Suisse of Switzerland sold $280 billion, and also provided assistance to firms including Bear Stearns and American International Group.

That is just the tip of the iceberg.

I'd suspect that if the subpoenas are approved, and I hope and pray that they are, and an investigation is completed into the Federal Reserve's operations, there will be more of an uprising of many angry Americans.