Newspaper logo  
 
 
Local Stories, Events

Ref. : Civic Events

Ref. : Arts & Education Events

Ref. : Public Service Notices

Books, Films, Arts & Education
Letters

Ref. : Letters to the editor

Health Care & Environment

04.21 Trump and impeachment: where Democrats stand after Mueller

04.21 Trump's moral squalor, not impeachment, will remove him from power

04.21 Dutch engineers build world's biggest sun-seeking solar farm [A replacement of lost Arctic ice?]

04.21 We’re altering the climate so severely that we’ll soon face apocalyptic consequences. Here are 9 last-ditch ways we could hack the planet to reverse that trend.[Hail Mary pass ideas]

04.18 'We Can Be Whatever We Have the Courage to See': New Video From AOC Envisions a #GreenNewDeal Future [7:35 video]

04.18 'Decades of denial': major report finds New Zealand's environment is in serious trouble

04.17 Thawing Permafrost Emitting Higher Levels of Potent Greenhouse Gas Than Previously Thought: Study

04.16 'That Backfired': Watch Bernie Sanders Counter Right-Wing Talking Point, Make Case for Medicare for All on Fox News

04.16 Cause of cancer is written into DNA of tumours, scientists find, creating a 'black box' for origin of disease

04.16 Scientists Unveil World's First Human Heart 3D-Printed From Patients' Own Cells

04.15 What It Was Like to Have a Baby in Sweden

04.14 'Shut the country down': British climate group Extinction Rebellion heads to US

04.13 With Youth Climate Actions Backed by Leading Experts, Latest Round of Protests Highlights Call for Bold and Urgent Action

04.11 Will You Rise Up for Climate Justice Next Week? Don’t Let Fatalism and Cynicism Hold You Back

04.11 300+ Groups to Congress: #GreenNewDeal 'Must Transform Our Food System and Revitalize Rural America'

04.10 Glaciers and arctic ice are vanishing. Time to get radical before it's too late [Willfully ignorant "conservatives" and corporately-bribed liberals diddle self-obsessively while life on earth dies]

04.10 Is there a beautiful, briny solution to the world’s clean water crisis?

04.08 'The perfect storm': hydrogen gains ground on LNG as alternative fuel [Good!]

04.08 Himalayan glaciers on the eve of destruction

04.08 Russia moves to free nearly 100 captive whales after outcry [Good!]

News Media Matters

04.12 DOJ Charging Docs: Julian Assange Committed Journalism

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

04.21 Pentagon Spending Set to Hit Near-Record Levels, But 'Establishment Says We Can't Afford' Progressive Policies

04.19 14 Must-Read Moments From the Mueller Report

04.19 No One Listens to the President

04.19 'Whimsical, uninformed': French ambassador's parting verdict on Trump

04.19 Mueller report: press secretary Sarah Sanders admitted to lying to reporters

04.19 Videos appear to show armed militia detaining migrants at US-Mexico border

04.19 Mueller report unable to clear Trump of obstruction of justice [PDF]

04.19 Nadler says Mueller report shows 'disturbing evidence' of obstruction of justice – video [2:41 video]

04.18 Top Democrats Accuse Barr of 'Acting to Protect Donald Trump' Ahead of Mueller Report Rollout

04.18 Bernie Sanders 'Raises the Bar Even Further' on Climate With Vow to Ban Fracking, All New Fossil Fuel Projects [Mindlessly killing ourselves must stop]

Justice Matters

04.21 In Ruling on Coal Mining, Federal Judge Issues Latest Rebuke of Trump's Attack on Public Lands

04.19 The Mueller Report Is Clear: Donald Trump Repeatedly Tried to Obstruct Justice

High Crimes

04.17 'Shameful': With Millions on Brink of Famine in Yemen, Trump Vetoes Resolution to End US Complicity

Economics & Corrupt Capitalism

04.21 Progressive Capitalism Is Not an Oxymoron [For the good of the public and healthier economic growth, can we make government and financial markets behave morally?]

04.19 The Pentagon’s Bottomless Money Pit [pdf; Until the Pentagon can pass audits, use their allocated budget to fight causes of global warming]

04.19 The Public Banking Revolution Is Upon Us

04.18 Mark Carney tells global banks they cannot ignore climate change dangers

04.17 A Path to Democratic Socialism Means a Path To Climate Justice

International & Futurism

04.21 Frustration grows among migrants in Mexico as support fades

04.21 Decrying 'Toxic Alliance' of Macron and Polluters, Climate Campaigners Stage One of France's Largest Ever Acts of Civil Disobedience

04.21 Yellow Vests Demonstrate in Paris as Notre Dame Donations Highlight Wealth Inequality

04.21 The Observer view on the Mueller report: Trump is a disgrace not welcome in Britain

04.21 The Government Is Still Massively Complacent About Climate Change

04.19 Ways to Save the World

04.18 Half of England is owned by less than 1% of the population

04.18 Britain will have its second referendum – at the EU elections on 23 May

04.18 Hypocrisy without borders: the pomposity of Ivanka Trump’s trip to Africa

We are a non-profit Internet-only newspaper publication founded in 1973. Your donation is essential to our survival.

You can also mail a check to:
Baltimore News Network, Inc.
P.O. Box 42581
Baltimore, MD 21284-2581
Google
This site Web
  Thinking About Performance(s)
Newspaper logo

ECONOMIC ANALYSIS:

Thinking About Performance(s)

by Fred Cederholm
The Obama/Treasury/FED policies are just not working – they can’t... because you don’t fix a problem of overwhelming debt by issuing more of the same. THAT is the FED’s approach because THAT is the only weapon in its arsenal.
I’ve been thinking about performance(s). Actually I’ve been thinking about the unfolding recession/depression, Bernanke on 60 Minutes, the Great OZ, quantity vs. quality, cheerleading, AIG, and the buck. Last week unfolded pretty much as I predicted in my column on juggling. The financial/ economic news items were all negative, but not horrific; the talking heads were neutral, but not euphoric; and the markets responded positively, but not justifiably optimistic. The Daily Show’s Jon Stewart took CNBC’s Jim Cramer to task for not sounding the alarm about any coming economic pandemic. This bitingly comic roasting could have been aimed at any of the media’s financial pundits, or Bush/ Obama Administrations’ talking heads for that matter.

You see the American sheeple are once again being had. The lame attempts to cover up bad economic policies which rewarded all the wrong behaviors for the inside cults of business and Wall Street have come home to roost in earnest. Fixing/replacing one bubble with a bigger (more lethal) one worked at least eight (or maybe nine) times since WWII. True they were “recessions” (or “coolings” of the economy), but the arrogance and Madison Avenue packaging of the monetary and Fiscal policy of the US Treasury acting thru the FED were spun and marketed like some laws of nature. The manifest destiny of a coming bigger/more prosperous US/us always loomed on the horizon in the message despite any future setback(s) from the underlying debt driven realities!

The Chairman of the US Federal Reserve Bank is perhaps second to only the President as THE most powerful person on the planet. There is the aura of aloofness and majesty that comes with the mystery of his office. This has been carefully engineered for almost 100 years. Ultra dignity and awe is compounded by the “edifice complex” of the FED’s stately and foreboding headquarters’ presence on the Mall in the Nation’s Capitol. This is the illusion of the Great OZ himself (please ignore any mere mortal personage behind the curtain). Like the Great OZ himself, appearances by the Chairman have been carefully and selectively orchestrated over the decades. Any musings, rumblings, and senselessly cryptic sound bytes made little if any common sense, but they did not have to. They were from THE CHAIRMAN. Intimidation from trappings of his office soon put to rest any criticism. I mean... to question policies and methodology borders on heresy. That is... until the unraveling of the perfect storms in 2007 and 2008 pulled back the curtain at OZland!

Sunday’s appearance by Chairman Bernanke on the CBS 60 Minutes Newsmagazine shouts volumes about how far we have come (and how fast we are descending). Such an outing beyond the throne room of the Great OZ with all its trappings of smoke, lights, and mirrors would NEVER have been contemplated by Bernanke’s predecessors. The Obama/Treasury/FED policies are just not working – they can’t... because you don’t fix a problem of overwhelming debt by issuing more of the same. THAT is the FED’s approach because THAT is the only weapon in its arsenal. Reality is not based in truth; it is based on perception. Uncle $ugar will fix the current catastrophic dilemmas if for no other reasons than our government is literally throwing TRILLIONS at the problem.

Where the money is being spent is not the issue! It is the sheer size of the numbers bantered about which will (with sufficient and well-orchestrated media wrappings) put the public at ease. The current recession/ depression will only cease to exist when the public believes it is over - not before! THAT requires on the camera performances of a lifetime by Bernanke and Obama. Bernanke gave one superb performance. He looked the part. He made love to the camera. And, he NEVER blinked.

Questions to Bernanke were dead on; but these were politely lobbed over home plate. Just WHAT did we really learn? Gentle Ben is aghast by AIG and the four (or is it now 5?) MEGA BILLION bailouts of the global insurance giant - who will STILL pay some $165 MILLION in bonuses this week to its ‘perpe-traitors.” He noted: the FED’s primary objective is to stabilize prices. Since the FED took over issuing our money, the buck has lost 94% of its purchasing power! Some performance, Ben!?!?

I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.


Copyright 2008 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.


Copyright © 2009 The Baltimore News Network. All rights reserved.

Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent.

Baltimore News Network, Inc., sponsor of this web site, is a nonprofit organization and does not make political endorsements. The opinions expressed in stories posted on this web site are the authors' own.

This story was published on March 16, 2009.

 

Public Service Ads: