Only 3 days to destroy the world’s economy. Clinton Presidential Documents on Glass-Steagall Repeal Reveal: No Good Reason For Doing This

Posted on April 21, 2014 by Deadly Clear

I do not think there is any single piece of legislation in the last 50 years that has had such a profoundly detrimental impact on the American public than the repeal of the Glass-Steagall Act separating commercial and investment banking.

That repeal is certainly not the sole factor that led to the economic crisis of 2008 and the ongoing pain we experience today, but it was certainly critical to the eventual meltdown. There is no great revelation in that assessment. Continue reading →

Federal Reserve: A 100 Year Old Failure

Posted on August 14, 2013 by Deadly Clear

Posted by Larry Doyle on August 14, 2013

The Federal Reserve was founded in 1913 and here we sit 100 years later wondering who will be the next chair of this all powerful institution.

While there is serious politicking going on for both Larry Summers and Janet Yellen, will it really matter whether it is one or the other running this institution?

Perhaps at the margin and for optics the choice of Summers vs Yellen might matter, but in the grand scheme of things neither of these individuals is going to redirect the Federal Reserve from its failed policies. You don’t think so? Continue reading →

S&P Downgrade: Ex-Obama Adviser Christina Romer Says U.S. ‘Pretty Darn F**ked’

Posted on August 13, 2011 by Deadly Clear

This Week’s Catch-Up
Posted By DEADLY CLEAR

Huffington Post reported on August 6, 2011: Ex-Obama Adviser Christina Romer Says U.S. ‘Pretty Darn F**ked’

On the same night that Standard and Poor’s downgraded the United States’ top-level credit rating for the first time in history, Christina Romer, former chair of Obama’s Council of Economic Advisers, didn’t mince words when asked of downgrade’s potential consequences.

The U.S. is “pretty darn f**ked,” Romer said during a segment on Real Time with Bill Maher called “How F**ked Are We?”, after Maher asked what the new could mean for the U.S. economy. Continue reading →