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The Federal Reserve initiated "quantitative easing" — inflating the money supply — to shore up banks and the economy. Now the Fed is doing it again — for a third time.


Tom Eddlem, writer for The New American, gives a contrast between Australia's economy and that of the United States, covering such factors as national debt, savings, and interest rates.

Congressional approval of the latest round of the General Agreement on Tariffs and Trade was a victory for international socialism and a defeat of the principles of America's Founding Fathers.

Time and again, when taxes have been raised on the rich, the poor suffered the greatest detriment. And when taxes were lowered, the poor saw most of the benefit.



When President Obama announced a proposed hike in the federal minimum wage rate in his State of the Union address last week, the reaction was swift. House Speaker John Boehner spoke for most Republicans in condemning the increase (from the current $7.25 an hour to $9.00), reminding his colleagues that “when you raise the price of employment, guess what happens? You get less of it.”

Congressional fiscal debates are making headlines, but in reality our representatives are unlikely to substantially cut spending — despite the harsh consequences of failing to do so.

The latest report on the financial condition of Social Security from the Congressional Budget Office hides an important fact: the Disability Insurance program will be exhausted in 2016 so that its benefits will have to be paid from other funds, depleting them much more rapidly than estimated.

Capital appreciation bonds, when combined with economic ignorance and political expediency, make up a toxic brew that is likely to explode long before they come due.

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