January 2018
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The News

Nancy Reagan the Epitome of Stand by Your Man

Ron and Nancy ReaganRest in Peace GREAT LADY!

Ronald Reagan pulled California out of its hole and then moved on to pull America out of her hole.

I voted enthusiastically for him 4 times. He was the first POLITICIAN in my life time that said what he intended to do and then actually followed through with what he said.

Staunchly by his side all of the way was this lovely, strong, opinionated woman who INDEED CLEARLY LOVED AND SUPPORTED HER MAN.

Ronald and Nancy Reagan had been married for 52 years when he died in 2004. They wed almost 30 years before he became president, and had two children together, Patti and Ron.

Their marriage is one of the great love stories of American history.
Her death at 94 is indeed a loss.

Federal Reserve Diverts $600 Billion to European Banks?

Zero Hedge Fund blogger Tyler Durden speculated that the Federal Reserve spent the $600 billion, QE II, it created last fall to shore up Europe Bank assets. In other words QE II went to help Europe, Germany, Spain, Portugal, and Greece no the US banks. He bases his claim on the build up of the Federal Reserves monetary base shown and the simultaneous increase in European bank reserves.

Monetary Base, note QE II begins fall of 2010

Durden notes the growth of the monetary base here and the growth of bank reserves over in Europe there is a almost one to one correlation.

Foreign bank reserves increased $600 billion since the fall of 2010

Foreign bank reserves compared to Federal Reserve monetary base from fall of 2010 to June 2011

If this is true, and there are several economist like Gary North that are convinced it is, it is the end of Bernanke. There is no one in Washington that will be able to save Bernanke when this scandal becomes public.

Second this explains why the Euro has remained relativity stable over the last few month compared to the dollar and other currencies. If true European exporters will be just as furious as Americans over this action that will have cost them billions in sales.

Third now we know why Germany has had a change of heart as far as its position to bail out the Greeks. A few billion here and there will do that.

Fourth since none of this money made it to US banks none was lent out to help the economy. Not that the US banks would have lent the money out with the specter of inflation looming in the distance and zero confidence in the economy, banks would simply take the cash and purchase more short term T-Bills, but it kind of defeats the whole Keynesian “liquidity” argument for QE II when you are shoveling the cash to Europe.

Fifth, and most important, since there is no excess “liquidity” for US banks to purchase more Washington spending and other nonsense we are almost assured of QE III. Economist and Euro Pacific President Peter Schiff thinks the Fed will hide the QE III program in purchases of longer, three to five year, treasury notes. There will officially be no QE III and the Fed will hide these purchases just as stealth like as they did QE II.

And I thought Bernanke was a dull guy.

Scott Brown wins and the writing is on the wall.

Scott_BrownWith the Scott Brown win in MA the writing is clearly on the wall saying the middle ground is pissed to the max.
Will team Obama, Reid and Pelosi be able to read and understand it?


Others not quite ready to be led to the impending Democratic slaughter perhaps will take a second look.
A first look and discussion of the secret health care bill would help.
A little transparency perhaps?

I hope this MA upset will send a majority of these health care and cap’ntax supporters leaping overboard like rats abandoning a sinking ship. The question really is … how stupid are they really to continue the support?

Can anyone in Washington still question the intent of the mass and their dissatisfaction with the continued destruction of our economy?

I watched the Brown victory speech.
What I noted was the sincerity he projected.
Quite a stark contrast to what everyone called eloquence from the Obama inaugural address.

Personally I do not think Obama possesses a sincere bone in his body … other than when patting himself on the back for things he fantasizes he has done.