Posts Tagged ‘government’

Just how independent is the Federal Reserve? This week on Your Financial Editor.

Thursday, February 13th, 2014

The Federal Reserve operates independent of the government, or at least it was supposed to. My guest this week, Allan Meltzer would beg to differ. Join me this week as Allan and I discuss his paper, “What’s Wrong With the Federal Reserve: What Would Restore Independence?

Listen from anywhere by logging onto WFMD and clicking the listen live button – Saturday morning at 8:00 on AM 930 WFMD.

About this week’s guest:

Mettzer- Allan-HR

Allan H. Meltzer is the Allan H. Meltzer University Professor of Political Economy at Carnegie Mellon University. His research and teaching interests include the history of U.S. monetary policy, size of government, macroeconomics, and international financial reform. He was the founder and chairman of the Shadow Open Market Committee. Meltzer has served as a consultant on economic policy for the Congress, the U.S. Treasury, the Federal Reserve, the World Bank, and the U.S. and foreign governments. He was Chairman of the International Financial Institution Advisory Commission, U.S. Congress, 1999–2000. He was given NABE’s Adam Smith Award in 2003 and is a NABE Fellow. He received A.B. and M.A. degrees from Duke University and a Ph.D. from the University of California at Los Angeles.

Our Regional Economy

Friday, March 2nd, 2012

Those of us who live in the Washington D.C.,/Northern Virginia/Suburban Maryland region have always had some economic benefits.  The benefits stem from all of the federal spending that occurs.  I was in a meeting with John McClain from George Mason University this week, and he shared some of the latest data on the region.  Mr. McClain and his team have over 25 years of experience in analyzing this region’s economy.  The team focuses on housing and transportation, among other factors.  One thing that our guest reminded our National Economic Club is just how dependent the region is on Federal spending, and that has never been more threatened.  This has been the worst recession since World War II, and the so-called “recovery” hasn’t been as good past recoveries.  A big part of a recovery, some 10%-15%+, following a recession (like the last big one we had in the early 1990′s), comes from housing.  Obviously, we haven’t had that luxury this go around.  The question that I have is if the region’s strength comes, in large part, from federal spending and mandated cuts across the board are to occur in 2013 (thanks to the failure of the Super Committee); what is going to happen to all of the  government workers, contractors, vendors, etc.?  I mean, when you have 39% of the Greater Washington economy dependent on Federal spending, and that’s drastically cut, how bad will the fallout be?  Things aren’t so bad right now for the government employees right now (Obama has added 30,000 government jobs according to Mr. McClain’s data), but the coming years could be very difficult.  In our modern day economy, if we ever needed a very strong economy with common sense policies in place to provide for those who are or will be looking for work, it’s now.

Why We Need The Truth, The Whole Truth, and Nothing But The Truth – this week on Your Financial Editor.

Thursday, February 9th, 2012

The noise from both Washington and the media is deafening, the deeds of our lawmakers alarming. America needs a break from the posturing and the politicking. We need information: how we got here and where we are headed. My guest this week,Catherine Crier, one of the most respected figures in television journalism, presents an incisive, unbiased analysis of America’s political crisis.  Join me this week, and she’ll deliver a message we cannot afford to ignore.

Join me this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

An Emmy and duPont-Columbia Award-winning journalist, and the youngest state judge to ever be elected in Texas, Catherine Crier is now a managing partner in Cajole Entertainment developing television, film and documentary projects.

Crier, a native of Dallas, earned her Bachelor of Arts degree in political science and international affairs from the University of Texas and received a Juris Doctor in two and a half years from Southern Methodist University School of Law. She began her career in law in 1978 as an Assistant District Attorney then Felony Chief Prosecutor for the Dallas County District Attorney’s office. From 1982 to 1984, Crier was a civil litigation attorney with Riddle & Brown, handling complex business and corporate matters. In 1984, she was elected to the 162nd District Court in Dallas County, Texas as a State District Judge. During her tenure on the bench, Crier also served as Administrative Judge for the Civil District Courts and worked extensively with the ABA, National Judicial College, and Texas Legislature on legal issues. Shortly after her reelection (unopposed) to a second term on the bench, a chance meeting with a television news executive led to a dramatic career change.

In September, 1989, Crier was hired to co-anchor the premiere evening newscast on CNN. Additionally, she co-anchored Inside Politics, all election coverage, and hosted Crier & Company, a talk show covering news, politics and international issues.

Crier joined ABC News in 1993, where she served as a correspondent and as a regular substitute anchor for Peter Jennings on ABC’s World News Tonight, as well as a substitute host for Ted Koppel’s Nightline. She also worked as a correspondent on 20/20, the network’s primetime news magazine program. Crier was awarded a 1996 Emmy for Outstanding Investigative Journalism for her work on the segment “The Predators” which examined nursing home abuses throughout the United States.

In October of ’96, Crier became one of the founding television anchors for the Fox News Channel, with her prime time program, The Crier Report, a live, hour-long nightly show, during which she interviewed the leading newsmakers of the day.  Additionally, she co-anchored the evening news, election coverage and Fox Files, a magazine news show aired on the parent network.

Catherine joined Court TV’s distinguished team of anchors in November 1999.  She served as Executive Editor, Legal News Specials, in addition to hosting Catherine Crier Live, a fast-paced, live daily series, covering the day’s “front-page” stories, until joining Cajole Entertainment in 2007.

Crier released her first book, the NYTimes bestseller, The Case Against Lawyers in October, 2002.  Her second book, A Deadly Game: The Untold Story of the Scott Peterson Investigation became a #1 NYTimes bestseller and was followed by Contempt—How the Right is Wronging American Justice, and Final Analysis:  The Untold Story of the Susan Polk Murder Case.  Her fifth book, Patriot Acts—What Americans Must Do to Save the Republic, is scheduled for publication on November 1, 2011.

A letter of warning to America. This week on Your Financial Editor.

Wednesday, December 14th, 2011

This week, my guest is Daniel Hannan, author of The New Road to Serfdom.  His book spells out the dangers and shows exactly why the American Constitution both deserves and needs protection from the new ruling class! 

Join me this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

Daniel Hannan is a conservative British member of the EU Parliament.  He was president of the Oxford Conservative Association and has been a columnist for the Daily Telegraph since 1996.  He was elected to the EU in 1999 at the age of 28 and has been twice reelected.

Fannie Mae and Freddie Mac – the debacle of mortgage finance? This week on Your Financial Editor

Thursday, July 7th, 2011

The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history – costing American taxpayers close to $150 billion with more needed.  They are too big too fail – but is that precisely what they are guaranteed to do?  Join me this week and we’ll take a hard look at at these mortgage giants.

Tune in this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

Professor White has been with NYU Stern for more than 30 years. His primary research areas of interest include financial regulation, antitrust, network industries, international banking and applied microeconomics.

He has published numerous articles in the Journal of Business, Journal of Economic Perspectives, Journal of Economic Literature, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, Quarterly Journal of Economics, and other leading journals in economics, finance, and law. He is the author of The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation, among other books, and he is the co-editor (with John Kwoka) of The Antitrust Revolution, the 5th edition of which appeared in 2008. He contributed chapters to both of the Stern books on the financial crisis – Restoring Financial Stability and Regulating Wall Street. And he is the co-author (with Stern’s Viral Acharya, Matthew Richardson, and Stijn Van Nieuwerburgh) of Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance.

Capitalism

Friday, May 13th, 2011

President Harry Truman said “There is nothing new in the world except the history y0u do not know“.  Socialism, Communism, Marxism, Leninism…you get the picture.  All of these society structures are failed. 

It’s not worth debating.  These forms of government were tried and they didn’t work, close that book.  But now, some radical leftists and elitists are trying to say that the financial crisis proves that capitalism is wrong, and that we should take America down one of those old, failed concepts.

I say American capitalism (just like the U.S. legal system), is far from perfect, but it’s the best in the world.  If our politicians can ever paste enough popsicle sticks to give them a backbone, then capitalism, along with great leadership, will take this country and its citizens where we want and need to go…the top!

See this article about business confidence.

So long Social Security!

Friday, April 22nd, 2011

Social Security, it’s got to go.  I know that sounds harsh, but we’re already way past the point of dealing with this issue.  Here are some of the facts: 

  • The program was created in 1935.
  • It’s a social insurance program.
  • It’s funded by payroll taxes.
  • The social security fund pays out hundreds of millions each year. 
  • It’s the largest government program in the world.
  • It was created when the average life expectency was far short of age 65.

The Congressional Budget Office said the system will pay out more in benefits than it receives in payroll taxes in 2016.  Whoops!  The CBO probably didn’t plan on the financial crisis, recession, and poor government policies causing millions of American’s (who lost thier jobs and watched their networth take a dive), apply for benefits sooner.

Heads up…if you are 50 years or younger, I wouldn’t be including Social Security benefits in your retirement projections.

Governor Gary Johnson set to make a major announcement in New Hampshire – this week on Your Financial Editor.

Saturday, April 16th, 2011

Gary Johnson, former Republican Governor of New Mexico will hold a news conference on Thursday, April 21st at 9:00am EDT at the New Hampshire State Capitol Building in Concord (location: Capitol front steps: 107 North Main Street, Concord), to discuss his plans for the 2012 election.

He joins me this week to talk about his views on the hot-button issues in our nation – national debt, illegal immigration, our involvement in Libya and even legalizing marijuana. 

Join us this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

Governor Johnson, who has been referred to as the ‘most fiscally conservative Governor’ in the country, believes the highest priority for America is a balanced federal budget. He calls the national debt  ‘the greatest threat to our national security.’

 Since launching the OUR America Initiative in late 2009, Governor Johnson has traveled to 38 states, participated in hundreds of media interviews and addressed a wide range of organizations all across the nation. He is vocal in his opposition to U.S. involvement in Libya, and has called for an end to American military involvement in both Afghanistan and Iraq. He supports marijuana legalization and advocates common-sense immigration reform.

A Government that Governs Less.

Tuesday, March 15th, 2011

Politically, the last 20 years or so have really been a  let down. 

Government spending, whether it be entitlement programs, pork projects, etc., have been off the charts.  How could we be so stupid?  Why are we so stupid today?  Did you know you support the Nevada Cowboy Poetry Festival?  That $615,000 of your Federal tax dollars has been given to the University of California at Santa Cruz to digitize Grateful Dead memorabilia, and a $770, 856 grant was given to North Carolina State for research into how video games can help improve mental health for seniors?

Trillions more has been spent by the Federal Reserve Bank, U.S. Treasury, the White House, etc., and  on top of that,  twisted and morally corrupt politicians conjure up creative names that hide the vile and disgusting bills that they force through legislative chambers – sometimes in the light of day and other times in the still of the night.  The new laws that have appeared over the last few years in particular are very disturbing and will prove to be detrimental to our history and tradition.

Excuses are made and legalism is used to confuse the issue and minimize the effect, but, at the fork in the road, a good soul sees the differences and is able (with clarity) to see the wasteful spending, the moral corruption, and those in the freak parade that really do nothing positive for, and add nothing to, our constitutional and biblical based foundation that the United States rests on.  We can allow our legislators to pull our communities, states, and the whole country into the cesspool, or we can act.

In this situation in particular, “to act” means to commit.  It means doing things when perhaps you don’t feel like it because you are busy, tired, rushed, overworked, etc.  Those who are serious about reversing this tide of waste, filth, and decay of our great country must embrace “commitment”.  As we all know, that is a heavy and serious word, no matter how or where we use it in our lives.  Be that as it may, “commitment” is required and necessary.  One promise I can make to you is that for those of you who use your “commitment” to fight back against the black tide, your self-satisfaction and inner peace will be your greatest reward.

The government must stop wasting our tax dollars and polluting our family values.

Enter “Voices of America” video contest!

Wednesday, February 16th, 2011

The Committee For a Responsible Federal Budget has announced the launch of the “Voices of America” video contest for people across the country to tell the budget experts in Washington D.C. their ideas on ways to fix America’s fiscal house!  The goal of the contest is to broaden the national conversation over our national debt problem.  The U.S. government’s debt just topped $14trillion dollars – it’s at its highest point since the ending of WWII. 

The top two winners will receive $1000 each and the top ten videos will be posted on the CRFB’s website.  I’m definitely entering this contest and encourage all of you to do the same and voice your opinions and ideas to fix this huge problem.  To enter the contest, click here.