Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Federal Reserve System’

For those who like their newz with a right wring tryst, there’s… yellow reporting via @YHN YellowHammer News.

Posted by Warm Southern Breeze on Saturday, July 25, 2015

For those who like their newz with a Right Wring Tryst

For those who like their newz with a Right Wring Tryst

Slant…

from a journalistic perspective, it’s colorizing a news report to fit the opinion of the reporter. It’s the polar opposite of hard news reporting, and is more akin to OpEd, or even News Feature writing.

More than likely, only the erudite would be aware of the differences. The average Joe is clueless about it, and only knows “where the gas and keys go,” which is another way of saying “if it’s on the Internet, it must be true.”

A one word description for that is “gullible.”

And face it, not everyone is a brainiac… and that’s okay.

What it boils down to is integrity, and truth-telling, which is precisely why journalistic integrity is of paramount importance in a free society like ours. Lack of it is what got “Lyin’ Brian Williams” canned from being the anchor of the NBC Nightly News. It wasn’t “colorful” reporting, it was blatant fabrication of a material fact. In plain language, he lied – and not just once, but several times – about events he reported, including Hurricane Katrina and being under enemy fire while flying in a Blackhawk helicopter.

Such phenomenon is not just limited to teevee news, but journalistic integrity also covers the written word. And there have been Read the rest of this entry »

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Bureau of Labor Statistics Labor Force Participation Reports May 2014: Don’t Believe the “Spin”

Posted by Warm Southern Breeze on Sunday, June 8, 2014

This will be of interest to the curious, especially those who seek and search for the truth.

Asserting to cite data from the Bureau of Labor Statistics (BLS), CNS News recently reported that the Labor Force participation rate was at a 36-year low.
The headline to that story reads:
37.2%: Percentage Not in Labor Force Remains at 36-Year High
http://www.cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high

Upon examination of the BLS website, the data was found to be honest and accurate.
http://data.bls.gov/timeseries/LNS11300000

Information on the data set presented is:
Data extracted on: June 8, 2014 (4:07:31 PM)
Labor Force Statistics from the Current Population Survey
Series ID: LNS11300000
Seasonally Adjusted
Series title: (Seas) Labor Force Participation Rate
Labor force status: Civilian labor force participation rate
Type of data: Percent or rate
Age: 16 years and over

Following is the chart as shown on the BLS website:

Chart from the Bureau of Labor Statistics of Labor Force Participation, Seasonally adjusted http://data.bls.gov/timeseries/LNS11300000

Chart #2: From the Bureau of Labor Statistics of Labor Force Participation, Seasonally adjusted http://data.bls.gov/timeseries/LNS11300000 Civilian Labor Force Participation Rate, age 16+

 

 

 

 

 

 

If the information is accurate – that is, if it accurately represents the thing it purports to represent – then there is a genuine cause for concern, perhaps even alarm. But first, sometimes, information has to pass the “smell test.” If it just doesn’t sound right, dig a little deeper.

However, there is a DEFINITE skew which, when considered, renders the interpretation of the findings questionable, at best.

Since there are TWO separate entities reporting the SAME information, how could it possibly be inaccurate, or incorrect?

Let’s consider further, to determine if such alarm might be genuinely warranted.

Searching for Labor Force Participation Rate datasets from Read the rest of this entry »

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Federal Reserve’s “Beige Book” shows improving economy

Posted by Warm Southern Breeze on Thursday, January 17, 2013

The Federal Reserve regularly publishes a summary of economic activity in the 12 Federal Reserve Districts in the United States.

It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”

Much, if not most of the news was promising.

Summary highlights from this Beige Book 2013-01-16 are that:

• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”

• “All twelve districts reported some growth in Read the rest of this entry »

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Housing Starts in U.S. Surged in September to Four-Year High

Posted by Warm Southern Breeze on Wednesday, October 17, 2012

Economic signs are improving!

Housing Starts in U.S. Surged in September to Four-Year High

New-home construction in the U.S. surged in September to the highest level in four years, a sign the industry is on the road to recovery.

Starts jumped 15 percent to an 872,000 annual rate last month, the most since July 2008 and exceeding all forecasts in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. The median estimate of 81 economists surveyed by Bloomberg called for 770,000. An increase in building permits may mean the gains will be sustained.

A pickup in sales stoked by record-low mortgage rates and population growth combined with dwindling supply indicates construction can continue strengthening, contributing more to economic growth. At the same time, the level of starts remains below the pre-recession peak, limiting how much the industry can boost the rate of expansion.

“The housing market certainly has turned,” said Brian Jones, a senior U.S. economist at Societe Generale in New York, whose forecast for 790,000 starts was among the highest. “But we still have a long way to go. The good thing is that construction will pull employment with it.”

Stock-index futures extended Read the rest of this entry »

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Federal Reserve: Economy “Strengthening” & “Generally Expanded”

Posted by Warm Southern Breeze on Friday, October 12, 2012

“Most Districts reported strengthening in existing home sales, while prices were described as steady to increasing, with declining inventories noted in the Boston, Atlanta, Minneapolis, Dallas, and San Francisco Districts.

“Automobile sales were flat over the past six weeks but are up year-over-year.

“Demand for consumer credit remained relatively strong, Read the rest of this entry »

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Taxpayers’ $182B TARP bailout of AIG Now Fully Recovered

Posted by Warm Southern Breeze on Tuesday, September 11, 2012

As the president and others – nonpartisan and partisan alike – have noted, BIG BUSINESS should NOT need a bailout. They should be operated in such a manner as to allow the Free Market to decide how, to what extent, and if they prosper. As part of that process, ironclad and strong regulation to prevent fraud and abuse should be vigorously enforced. And chief executives Read the rest of this entry »

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Federal Inspector General Investigation proves Ron Paul’s claims “Bizarre”

Posted by Warm Southern Breeze on Wednesday, April 4, 2012

{Updated annotation 05 April 2012: There is a cost to the “bizarre” accusations made by Rep. Dr. Ron Paul, MD (R-TX) during that Congressional hearing. As a direct result of his accusations, a 16-month long Inspector General investigation was conducted, which undoubtedly cost “we the people,” aka taxpayers, several millions of dollars.}

It’s one thing to say “the moon is made of green cheese.”

It’s an entirely different matter to say it and truly believe it.

In this case, Rep. Dr. Ron Paul, MD (R-TX), believes it.

God help him.

God help us all when kooks like him get elected to any public office.

I rather think this solitary example is proof positive that Rep. Dr. Ron Paul is unfit for office.

Following are various news items referencing the recently released findings.

Along with the news items about the findings is a link to Rep. Dr. Ron Paul’s, MD (R-TX) column hosted on the LewRockwell.com website. Lew Rockwell is another prime example of a kook, who, like Rep. Dr. Ron Paul (R-TX) subscribes to the theories of the “Austrian School of Economics” which – though it’s Mises Institute is headquartered in Auburn, Alabama – has no ties with the city or university located in that town.

{Note to the reader: Throughout this entry, there are numerous links to references and resources about the highlighted items. None of the links are advertising, and most all links refer to entries on Wikipedia, while some refer to original or referenced resources.}

Excerpted from Marketplace, Morning Report, Wednesday, 04 April 2012 – “Fed money played no role in Watergate.

Marketplace’s David Gura is here live from Washington to tell us about something a little juicier. Morning David.

David Gura: Morning Jeremy.

Hobson: So this item, I gather, comes from the Fed’s inspector general?

Gura: That’s right; so we’re learnign about the Fed’s history. First, we learned that the Federal Reserve was not involved in the Watergate burglary back in 1972; the cash used in the scandal did not come through the Federal Reserve. And second, there is no evidence the Fed helped Saddam Hussein, helped Iraq, get billions of dollars to buy weapons in the 80s.

Hobson: OK, all good to know — but why was the inspector general looking into this?

Gura: So, back in February of 2010, Ben Bernanke was testifying before the House Financial Services Committee. And Republican Congressman Ron Paul — one of the Fed’s biggest critics — made these two claims, about the Fed and Watergate, and about the Fed supposedly loaning money to Saddam Hussein.

And this is was Ben Bernanke’s reply, at the hearing back then: Read the rest of this entry »

Posted in - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , | 6 Comments »

Ben Stein pwns Rick Perry

Posted by Warm Southern Breeze on Friday, August 26, 2011

Hell… the whole damn Republican party has been hijacked by loudmouthed, harebrained, dim-witted “TEA Party” kneejerk political reactionary johnny-come-latelies. Where are the centrists and calm voices? Where are the diligent workers, the voices of rational reason? Where are the visionaries, the dreamers? Have we elected manic-depressive political schizophrenics?

Ben Stein offers Rick Perry an economics lesson
August 21, 2011

The Texas Governor and just-announced GOP presidential candidate Rick Perry took on the Federal Reserve this past week. To our Ben Stein it doesn’t add up:

I was going to leave you alone for this month and just spend it on my boat up at Lake Pendoreille in North Idaho, a mountain lake where ospreys soar and where I feel at peace.

But Governor Rick Perry of Texas – possibly the nation’s next President – has shocked me out of my reverie.

A few days ago, Governor Perry said in campaigning in Iowa that Read the rest of this entry »

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Feds OK Big Business Tax Exemptions; No Regulations Allowed

Posted by Warm Southern Breeze on Wednesday, April 13, 2011

Note: In a later paragraph, the article’s author used the declarative and active voice, rather than the passive voice in reporting what the lobbyists claim. Thus, it made the clause seem as if the assertion WILL BE true, rather than reporting the concern as an opinion of those expressing the idea.

Companies using derivatives as hedge get exemption

By MARCY GORDON
The Associated Press, April 12, 2011, 4:00PM ET

WASHINGTON – Companies that trade derivatives solely to guard against volatile price swings won’t have to meet new federal collateral requirements.

The Commodity Futures Trading Commission advanced the exemption Tuesday as part of new regulations for derivatives, investments whose value depends on the future price of some other investment.

The rules, which were included in last year’s financial regulatory law, require banks and businesses that trade derivatives to Read the rest of this entry »

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Wal-Mart CEO warns of inflation

Posted by Warm Southern Breeze on Friday, April 1, 2011

This article first mentions ‘Wally World’ CEO, but should more appropriately headlined about the Federal Reserve policy. However, the headline would not be ‘sensationalistic’ enough to arouse reader curiosity, hence use of the WMT headline.

As a corollary, why should Wal-Mart be allowed to “outsource” almost all their products, to the extent that they are effectively a Chinese company, and then warn America that inflation is impending? Wal-Mart is a traitor company, which also mistreats their workers, hires illegal aliens, and discriminates against women. (That is to say, they’ve been convicted of, or plead to such cases.) It’s NOT the “American Way”!

Wal-Mart CEO: ‘Serious, Rapid’ Inflation Will Send Prices Soaring
Thursday, 31 March 2011, 12:34:24

The one retailer prepared to cut costs to the bone to save money for consumers now warns that prices will rise very soon — no matter what. Retailers have generally managed to hold prices low despite rising raw materials costs. They had little choice: High U.S. unemployment and lack of credit has kept people out of stores. That’s over, says Wal-Mart CEO Bill Simon. Prices will now Read the rest of this entry »

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How to fix this ROTTEN economy

Posted by Warm Southern Breeze on Friday, March 11, 2011

Here are a few “quick” points, and anecdotal observations, followed by solutions.

According to published reports, unemployment has ranged, on national average, between 9-12%. However, some suggest that the real unemployment rate may be much higher, in some cases, up to twice – or more – of the reported figure. Adding strength to that argument is the fact that 1.) the government reports Read the rest of this entry »

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Welcome to our Incestuous Fiscal Orgy

Posted by Warm Southern Breeze on Thursday, December 16, 2010

On June 1 this year, I had posted a photo and commented about it. The following is that commentary. Though the picture is not necessary to support the entry, it served as a malignant source of inspiration. However, if you simply must see the photograph

Welcome to our Incestuous Fiscal Orgy – State Farm Privacy Policy

Text of the area of the note:
Why are we sending you a Notice of our Privacy Policy?

“Federal law permits banks, investment companies, and insurance companies to Read the rest of this entry »

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BMW Tapped $3.6 Billion in Federal Reserve Funds During Financial Crisis

Posted by Warm Southern Breeze on Friday, December 3, 2010

BMW Head Quarters in Munich Germany.

BMW Headquarters, Munich, Germany - Image via Wikipedia

Bayerische Motoren Werke AG, the world’s largest maker of luxury cars, secured funds from the U.S. Federal Reserve during the financial crisis to boost liquidity as other sources dried up.

BMW’s largest transaction under the Fed’s Commercial Paper Funding Facility was for $3.62 billion on Jan. 30, 2009, according to data released yesterday. BMW made “intermittent” use of the Fed program for refinancing at a time when other forms of credit were frozen, Mathias Schmidt, a spokesman for the Munich-based automaker, said today.

“We tapped into this program in 2008 and 2009 during the financial crisis …Continue…

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