America’s Teetering Banking System: “Where did all our deposits go?”

By Mike Whitney 31/01/08 “ICH” — – Somebody goofed. When Fed chairman Ben Bernanke cut interest rates to 3% yesterday, the price of a new mortgage went up. How does that help the flagging housing industry? About an hour after Bernanke made the announcement that the Fed Funds rate would be cut by 50 basis points […]

“Capitalism and Freedom” Unmasked

An era ended November 16, 2006 when economist Milton Friedman died. A torrent of eulogies followed. The Wall Street Journal mourned his loss with the same tribute he credulously used when Ronald Reagan died saying “few people in human history have contributed more to the achievement of human freedom.” Economist and former Treasury Secretary Lawrence […]