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Post by thelivyjr » Wed Sep 30, 2020 1:40 p


"Fed’s Kashkari expects continued economic recovery but only in a ‘grinding’ fashion"

By Greg Robb

Published: Sept. 30, 2020 at 12:37 p.m. ET

The U.S. economic recovery is likely to proceed but it is going to feel like a car that might need a new transmission, said Minneapolis Fed President Neel Kashkari on Wednesday.

“Unless something dramatic changes or we have a breakthrough sooner than we expect on vaccines, or there is some dramatic change in policy, I think we are in for a grinding recovery from here,” Kashkari said in a talk to a trade group of Wisconsin manufacturers.

To date, the pace of the economic recovery has been faster than expected, but this is a “double-edged sword,” he said.

Part of the reason for the unexpectedly quick bounce back in the last few months from the slump earlier this year, caused by the coronavirus pandemic, is that states allowed businesses to re-open more quickly than health experts said was advisable, and this has led to predictable flare ups of coronavirus cases, first in the U.S. South and now in Wisconsin and Minnesota.

As a result, consumers and businesses are getting nervous about spending and investing.

It all comes back to the virus, the Minneapolis Fed president said.

“Until we really get control of the virus and until all of us have confidence that…it is safe to go back to normal with our families, we’re going to see a muted economic recovery,” he added.

Kashkari said it was important that Congress pass another round of federal relief for small businesses and workers who have lost jobs.

“I hope Congress is going to do more,” he said.

There are already many bankruptcies of many businesses and if this trend continues it will be very costly for the economy and workers risk not being able to pay mortgages.

“The longer this goes on, the more these losses will multiply and then roll into the banking sector, which could put pressure on our financial system,” he said.

One positive note is that experts are more optimistic there will be a vaccine for COVID-19 than they were six months ago.

Initially, experts doubted whether a vaccine would be found, noting that there still has yet to be a vaccine for HIV.

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Post by thelivyjr » Thu Oct 01, 2020 1:40 p

THE CAPE CHARLES MIRROR September 30, 2020 at 8:08 pm

Paul Plante says:

There is a saying in political science circles that those who do not know the political history of the nation they are citizens of are nothing more than ignorant A-HOLES not worthy of the time of day, and being a compassionate type of person, I really try hard not to think that way myself, but as the days go by, and I see the the state of benighted ignorance this nation is rapidly descending into, especially with the advent of TWITTER, I am finding it next to impossible to think otherwise, myself.

As to the Federalist Papers, they are the basis of the specific frame of Constitutional government we have in this country, and as such, they are quoted from by the United States Supreme Court in that context.

So anybody making a statement about our frame of government that does not agree with the Federalist Papers has taken an unsubstantiated or wrong position.

And that goes directly to Sanchez writing that to heal our political schism and extinguish the chaos plaguing our streets, a return to our country’s tradition of federalism would do the trick.

To which I respond that can’t be done with the present Constitution, which Jemmy Madison makes crystal clear above in FEDERALIST No. 39, to wit:

The proposed Constitution, therefore, is, in strictness, neither a national nor a federal Constitution, but a composition of both.

In its foundation it is federal, not national; in the sources from which the ordinary powers of the government are drawn, it is partly federal and partly national; in the operation of these powers, it is national, not federal; in the extent of them, again, it is federal, not national; and, finally, in the authoritative mode of introducing amendments, it is neither wholly federal nor wholly national.

end quotes

The key words in there, and they can’t be argued with or dismissed by the sophisters of today, are these: “in the operation of these powers, it is national, not federal….”

Said another way, the states are basically political eunuchs as Jemmy makes abundantly clear as follows:

The difference between a federal and national government, as it relates to the OPERATION OF THE GOVERNMENT, is supposed to consist in this, that in the former the powers operate on the political bodies composing the Confederacy, in their political capacities; in the latter, on the individual citizens composing the nation, in their individual capacities.

end quotes

Thus, as Alexander Hamilton made incandescently clear in FEDERALIST No. 15, “The Insufficiency of the Present Confederation to Preserve the Union,” for the Independent Journal to the People of the State of New York, we have a national government, not a federal government, so there is no tradition of federalism we can go back to.

Hamilton starts out as follows, to wit:

IN THE course of the preceding papers, I have endeavored, my fellow-citizens, to place before you, in a clear and convincing light, the importance of Union to your political safety and happiness.

I have unfolded to you a complication of dangers to which you would be exposed, should you permit that sacred knot which binds the people of America together be severed or dissolved by ambition or by avarice, by jealousy or by misrepresentation.

In the sequel of the inquiry through which I propose to accompany you, the truths intended to be inculcated will receive further confirmation from facts and arguments hitherto unnoticed.

If the road over which you will still have to pass should in some places appear to you tedious or irksome, you will recollect that you are in quest of information on a subject the most momentous which can engage the attention of a free people, that the field through which you have to travel is in itself spacious, and that the difficulties of the journey have been unnecessarily increased by the mazes with which sophistry has beset the way.

It will be my aim to remove the obstacles from your progress in as compendious a manner as it can be done, without sacrificing utility to despatch.

end quotes

Talk about the “mazes with which sophistry has beset the way,” we are clearly deep in the heart of one today in this country, which brings to mind another old saying, to wit: If you are lost and don’t know where you are, or where you are going, any direction you take is as good as any other.

Next Hamilton made clear his subject matter in that paper, to wit:

In pursuance of the plan which I have laid down for the discussion of the subject, the point next in order to be examined is the “insufficiency of the present Confederation to the preservation of the Union.

It may perhaps be asked what need there is of reasoning or proof to illustrate a position which is not either controverted or doubted, to which the understandings and feelings of all classes of men assent, and which in substance is admitted by the opponents as well as by the friends of the new Constitution.

It must in truth be acknowledged that, however these may differ in other respects, they in general appear to harmonize in this sentiment, at least, that there are material imperfections in our national system, and that something is necessary to be done to rescue us from impending anarchy.

The facts that support this opinion are no longer objects of speculation.

They have forced themselves upon the sensibility of the people at large, and have at length extorted from those, whose mistaken policy has had the principal share in precipitating the extremity at which we are arrived, a reluctant confession of the reality of those defects in the scheme of our federal government, which have been long pointed out and regretted by the intelligent friends of the Union.

We may indeed with propriety be said to have reached almost the last stage of national humiliation.

There is scarcely anything that can wound the pride or degrade the character of an independent nation which we do not experience.

end quotes

Talk about we may indeed with propriety be said to have reached almost the last stage of national humiliation in this sick and very troubled nation today with there scarcely being anything that can wound the pride or degrade the character of an independent nation which we do not experience, here we are today, because people in this nation have lost their way as citizens so that they no longer have an identity beyond being considered idiots, morons and just plain fools, which takes us back to Hamilton, as follows:

This is the melancholy situation to which we have been brought by those very maxims and councils which would now deter us from adopting the proposed Constitution; and which, not content with having conducted us to the brink of a precipice, seem resolved to plunge us into the abyss that awaits us below.

Here, my countrymen, impelled by every motive that ought to influence an enlightened people, let us make a firm stand for our safety, our tranquillity, our dignity, our reputation.

Let us at last break the fatal charm which has too long seduced us from the paths of felicity and prosperity.

end quotes

And how relevant those words are again today!

Moving along, Hamilton makes it crystal clear to anyone with even the most minimal of intellectual capacity that it is the federal nature of the Articles of Confederation that was our main problem to be overcome with a national system to replace it, which is what we now have, to wit:

It is true, as has been before observed that facts, too stubborn to be resisted, have produced a species of general assent to the abstract proposition that there exist material defects in our national system; but the usefulness of the concession, on the part of the old adversaries of federal measures, is destroyed by a strenuous opposition to a remedy, upon the only principles that can give it a chance of success.

While they admit that the government of the United States is destitute of energy, they contend against conferring upon it those powers which are requisite to supply that energy.

They seem still to aim at things repugnant and irreconcilable; at an augmentation of federal authority, without a diminution of State authority; at sovereignty in the Union, and complete independence in the members.

They still, in fine, seem to cherish with blind devotion the political monster of an imperium in imperio.

This renders a full display of the principal defects of the Confederation necessary, in order to show that the evils we experience do not proceed from minute or partial imperfections, but from fundamental errors in the structure of the building, which cannot be amended otherwise than by an alteration in the first principles and main pillars of the fabric.

The great and radical vice in the construction of the existing Confederation is in the principle of LEGISLATION for STATES or GOVERNMENTS, in their CORPORATE or COLLECTIVE CAPACITIES, and as contradistinguished from the INDIVIDUALS of which they consist.

end quotes

Thus, we can see that what Sanchez is advocating, a return to our country’s tradition of federalism, won’t do any tricks at all, because it was then a recipe for failure, just as it would be again today, which takes us back to Hamilton, as follows:

Abandoning all views towards a confederate government, this would bring us to a simple alliance offensive and defensive; and would place us in a situation to be alternate friends and enemies of each other, as our mutual jealousies and rivalships, nourished by the intrigues of foreign nations, should prescribe to us.

But if we are unwilling to be placed in this perilous situation; if we still will adhere to the design of a national government, or, which is the same thing, of a superintending power, under the direction of a common council, we must resolve to incorporate into our plan those ingredients which may be considered as forming the characteristic difference between a league and a government; we must extend the authority of the Union to the persons of the citizens, the only proper objects of government.

end quotes

Hamilton then proceeds with further analysis based on the character of people, to wit:

There was a time when we were told that breaches, by the States, of the regulations of the federal authority were not to be expected; that a sense of common interest would preside over the conduct of the respective members, and would beget a full compliance with all the constitutional requisitions of the Union.

This language, at the present day, would appear as wild as a great part of what we now hear from the same quarter will be thought, when we shall have received further lessons from that best oracle of wisdom, experience.

It at all times betrayed an ignorance of the true springs by which human conduct is actuated, and belied the original inducements to the establishment of civil power.

Why has government been instituted at all?

Because the passions of men will not conform to the dictates of reason and justice, without constraint.

end quotes

That applies in spades, today!

Such is our nation’s political history.

Too bad so many people today are so ignorant of it.

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Post by thelivyjr » Thu Oct 01, 2020 1:40 p


"IMF scrambles as potential global debt crisis comes into view"

By Greg Robb

Last Updated: Oct. 1, 2020 at 2:52 p.m. ET
First Published: Oct. 1, 2020 at 2:51 p.m. ET

The International Monetary Fund on Thursday urged countries to take swift action to avert a global debt crisis that outside experts think is inevitable.

In a series of public events Thursday, IMF officials were not so fatalistic.

They noted that easy monetary policy from the Federal Reserve and other central banks has bought debt burdened middle income countries some time.

Still, IMF First Managing Director Geoffrey Okamoto said Thursday a pandemic-induced systemic debt crisis “cannot be ruled out.”

“The longer the problem is postponed, the worse it will become,” Okamoto said, in a speech to the Peterson Institute for International Economics.

Desmond Lachman, an expert on international debt at the American Enterprise Institute, thinks there is no way to avoid a debt crisis.

“The problem in a nutshell is that emerging economies went into the crisis with record debt levels and now we’ve had the worst economic recession in 90 years."

"How that’s not going to lead to a crisis, I don’t know,” Lachman said.

Other experts, notably Ken Rogoff of Harvard University agree the riskiest period lies ahead.

The trouble started in the wake of the 2008 crisis, when the Fed cut interest rates to zero.

Emerging market companies had no trouble borrowing funds.

Investors didn’t care about the details, wanting simply to earn more interest than they could get on U.S. Treasurys, Lachman said.

These private debts are expected to migrate onto the balance sheets of countries as the crisis unfolds, he said.

Now there is a “perfect storm” as commodity prices have plunged, export markets are drying up and expatriates are no longer sending money back home in the form of remittances, Lachman said.

The new round of Fed monetary policy support to combat the coronavirus pandemic has limited the shock to the poorest countries.

Lachman said that as soon as markets go to a risk-off posture, “you are going to see these countries crumbling,” he added.

“The real problem is going to be Latin America,” Lachman said.

“The place that I’m worried about is Brazil, where their budget is out of control,” he said.

“A big country that is likely to buckle first is Turkey,” he said.

OIl producing countries are also in trouble.

The total external debt is roughly $3.5 trillion, he noted.

In the 1980 Latin American debt crisis, a “handful” of banks were the creditors and so a deal could be reached to restructure the debt, Lachman said.

This time the private debt is widely held and is “hugely messy.”

Another wildcard this time is that many countries borrowed from China.

So Western governments don’t want to write down their loans to emerging market countries just to have them turn around and use the Western funds to pay back their Chinese loans, Lachman explained.

“The world is at a critical juncture and should not sit idle waiting for a crisis,” said IMF Managing Director Kristalina Georgieva, in a blog post.

She asked the G-20 to extend a debt moratorium for the poorest countries through 2021.

It was set to expire at the end of this year.

And Georgieva urged countries to begin to restructure debt that was unsustainable.

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Post by thelivyjr » Sun Oct 04, 2020 1:40 p

THE CAPE CHARLES MIRROR October 3, 2020 at 10:51 pm

Paul Plante says:

If we wanted some further proof of “Corn Pop” Biden’s endorsement of radicalism, or perhaps it would be more proper to say radicalism’s hold on “Corn Pop,” or ownership of “Corn Pop,” we would need go no further than a San Francisco Chronicle article entitled “Black Lives Matter co-creator: Biden must choose a Black woman for VP” by Joe Garofoli, the San Francisco Chronicle’s senior political writer, covering national and state politics, on Aug. 3, 2020, where we were treated to the following directive or command to “Corn Pop,” himself the epitome of a lying dog-faced pony soldier if there ever was one, as follows:

Joe Biden will soon choose his running mate, and Black Lives Matter co-creator Alicia Garza says it had better be a Black woman.

“A Black woman in particular and not just a woman of color,” the Oakland resident told The Chronicle’s “It’s All Political” podcast, because ‘Black voters are who essentially made Joe Biden the presumptive nominee.'”

“That’s facts on facts.”

end quotes

BLACK LIVES MATTER, of course, is the Marxist-inspired movement that wants to disrupt our stable, law-abiding nuclear families, and as to Alicia Garza, who we see here giving “Corn Pop” Biden his marching orders as to who he has to pick as his running mate, she herself was the subject of a New York Post article entitled “Black Lives Matter co-founder describes herself as ‘trained Marxist’” by Yaron Steinbuch on June 25, 2020, to wit:

Black Lives Matter co-founder Patrisse Cullors said in a newly surfaced video from 2015 that she and her fellow organizers are “trained Marxists” – making clear their movement’s ideological foundation, according to a report.

Cullors, 36, was the protégé of Eric Mann, former agitator of the Weather Underground domestic terror organization, and spent years absorbing the Marxist-Leninist ideology that shaped her worldview, Breitbart News reported.

end quotes

Now, let us make it incandescently clear here that the very last thing we need in the White House, OUR White House, is somebody, anybody, who embraces the Marxist-Leninist ideology of COMMUNISM, which in the Soldier’s Handbook issued to U.S. troops in 1968 was named as the major threat to our nation, and with damn good reason when one looks at the history of COMMUNISM and the misery it has caused to countless souls over time with its repressive policies, including the Gulags, a system of forced labor camps established during Joseph Stalin’s long reign as dictator of the Soviet Union, with a tentative historical consensus that of the 18 million people who passed through the gulag system from 1930 to 1953, between 1.5 and 1.7 million died as a result of their incarceration.

At its height, the Gulag network included hundreds of labor camps that held anywhere from 2,000 to 10,000 people each.

Conditions at the Gulag were brutal: Prisoners could be required to work up to 14 hours a day, often in extreme weather.

Many died of starvation, disease or exhaustion — others were simply executed.

As to Lenin, whose ideology the BLACK LIVES MATTER controllers of “Corn Pop” Biden, the lying dog-faced pony soldier who thinks veterans like myself and countless others are “stupid bastards,” that from somebody who managed to avoid military service after coming down with asthma following his career as a college football player, embrace, after the Russian Revolution of 1917, Vladimir Lenin, founder of the Russian Communist Party, took control of the Soviet Union.

When Lenin died of a stroke in 1924, Joseph Stalin propelled his way to power and became dictator.

The Gulag was first established in 1919, and by 1921 the Gulag system had 84 camps.

But it wasn’t until Stalin’s rule that the prison population reached significant numbers.

From 1929 until Stalin’s death, the Gulag went through a period of rapid expansion.

Stalin viewed the camps as an efficient way to boost industrialization in the Soviet Union and access valuable natural resources such as timber, coal and other minerals.

Additionally, the Gulag became a destination for victims of Stalin’s Great Purge, a campaign to eliminate dissenting members of the Communist Party and anyone who challenged the leader.

So that is a good glimpse of the Marxist-Leninist ideology that shaped the worldview of the BLACK LIVES MATTER founders who are setting the political agenda of “Corn Pop: Biden, which takes us back to the New York Post article as follows:

“The first thing, I think, is that we actually do have an ideological frame.”

“Myself and Alicia in particular are trained organizers,” she said, referring to BLM co-founder Alicia Garza.

“We are trained Marxists.”

“We are super-versed on, sort of, ideological theories.”

While promoting her book “When They Call You a Terrorist: A Black Lives Matter Memoir” in 2018, Cullors described her introduction to and support for Marxist ideology.

She described to Democracy Now! how she became a trained organizer with the Labor/Community Strategy Center, which she called her “first political home” under the mentorship of Mann, its director, Breitbart reported.

The center, which describes its philosophy as “an urban experiment,” uses grassroots organization to “focus on Black and Latino communities with deep historical ties to the long history of anti-colonial, anti-imperialist, pro-communist resistance to the US empire,” according to the outlet.

It also expresses its appreciation for the work of the US Communist Party, “especially Black communists,” as well as its support for “the great work of the Black Panther Party, the American Indian Movement, Young Lords, Brown Berets, and the great revolutionary rainbow experiments of the 1970s,” Breitbart reported.

In 1968, Mann was a coordinator for Students for a Democratic Society, from which a more radical wing –- the Weather Underground — was splintered the following year.

It was led by Bill Ayers and Bernadine Dohrn, who called for “direct action” over civil disobedience, seeking the overthrow of the US government.

In 1969, the FBI classified the group as a domestic terror organization.

Mann was eventually charged with assault and battery, disturbing the peace, damaging property, defacing a building and disturbing a public assembly, for which he spent 18 months behind bars.

end quotes

Is that the kind of ideology we want here in the United States of America?

If so, vote Democrat, and that is what you will get!

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Post by thelivyjr » Mon Oct 05, 2020 1:40 p

THE CAPE CHARLES MIRROR October 4, 2020 at 10:45 pm

Paul Plante says:

So, is Joseph “Corn Pop” Biden a closet Marxist, adhering to the same Marxist-Leninist ideology that shaped the worldview of his BLACK LIVES MATTER controllers and handlers, or is he more likely simply for them what is known as a “useful idiot,” a term attributed to Vladimir Lenin, which in political jargon is a derogatory term for a person perceived as propagandizing for a cause without fully comprehending the cause’s goals, and who is cynically used by the cause’s leaders, a term originally used during the Cold War to describe non-communists like the Democrats in this country who were soft on Communism and thus regarded as susceptible to communist propaganda and manipulation?

As to Lenin, the spiritual father of the founders of BLACK LIVES MATTER who control and manipulate “Corn Pop” Biden like a finger puppet, and the kind of political repression we people with white skin in this country who have already been denounced by Hillary Clinton who stated publicly in April of 2016 that “If someone has white skin, they are a racist because of Implicit Bias, and we need community programs here in America to cure them” can expect at the hands of BLACK LIVES MATTER if they gain political control of the executive branch of our national government through their control of “Corn Pop” Biden through his vice president, who is in reality their vice president, on August 11, 1918, in initiating what became known to history as the RED TERROR, Lenin, the spiritual father of the founders of BLACK LIVES MATTER who control “Corn Pop” Biden, instructed the following action, which would be a part of their ideological heritage, to wit:


“The insurrection of five kulak districts should be pitilessly suppressed.”

“The interests of the whole revolution require this because ‘the last decisive battle’ with the kulaks is now under way everywhere.”

“An example must be demonstrated.”

“Hang (absolutely hang, in full view of the people) no fewer than one hundred known kulaks, filthy rich men, bloodsuckers.”

“Publish their names.”

“Seize all grain from them.”

“Designate hostages – in accordance with yesterday’s telegram.”

“Do it in such a fashion, that for hundreds of verst (a Russian unit of measurement) around the people see, tremble, know, shout: ‘strangling (is done) and will continue for the bloodsucking kulaks.'”

“Telegraph the receipt and the implementation.”

“Yours, Lenin.”

“P.S. Use your toughest people for this.”

end quotes

That, people, is the ideology of the founders of BLACK LIVES MATTER, whose political agenda includes ending “white supremacy” forever, using the methodology of Lenin to accomplish their goal.

The first official announcement of a Red Terror, published in Izvestia, “Appeal to the Working Class” on 3 September 1918, called for the workers to “crush the hydra of counterrevolution with massive terror! … anyone who dares to spread the slightest rumor against the Soviet regime will be arrested immediately and sent to a concentration camp”.

There followed the decree “On Red Terror”, issued on 5 September 1918 by the Cheka, the All-Russian Extraordinary Commission, which was the first of a succession of Soviet secret-police organizations established on December 5, 1917 coming under the leadership of Felix Dzerzhinsky, a Polish aristocrat-turned-communist.

Understanding ideology is very important, people, when dealing with the Marxist-Leninist ideologies of the founders of BLACK LIVES MATTER, which movement was just the subject of an article in THE HILL entitled “Hillary Clinton: ‘Black Lives Matter’ is ‘very profoundly a theological statement'” by John Bowden on 09/29/20, to wit:

Former Secretary of State Hillary Clinton says in a new episode of her podcast that she views “Black Lives Matter,” the rallying cry used by thousands of protesters demanding changes in the way Black Americans are treated by police, as a “theological” statement.

end quotes

For those like myself who are not actually clear as to what message Hillary is trying to convey there, and to whom, because the statement smacks of the BIG-TIME weirdness we have come to expect from Hillary, who may no longer be playing with a full deck, if she ever was to begin with, “theological” means “relating to the study of theology,” and “theology” is further defined as the field of study and analysis that treats of God and of God’s attributes and relations to the universe; study of divine things or religious truth; divinity.

So is Hillary now telling us that the founders of BLACK LIVES MATTER are themselves “divine,” which is to say “of, from, or like God or a god” as in “heroes with divine powers?”

Let’s go back to THE HILL to see what more we can glean, to wit:

In the episode released Tuesday featuring a conversation between Clinton and the Rev. William J. Barber, a supporter of the “Black Lives Matter” movement and co-chair of the Poor People’s Campaign, Clinton explained her thoughts on the phrase.

“When you think about the very concerted effort by one specific political party to basically own Christianity … it overlooks the role of the African American church, it overlooks, as you say, a lot of theology, a lot of history, it also overlooks this moment in time,” Clinton said.

“‘Black Lives Matter,’ I view as, you know, very profoundly a theological statement,” she added.

end quotes

The “very concerted effort by one specific political party to basically own Christianity?”

Seriously, people – how on earth can anyone who is sane and rational respond to that ridiculous statement other than by saying Hillary sounds like a certifiable crackpot with that stupid utterance, as if a political party here in the United States of America, where we have constitutional separation of church and state, could somehow own Christianity, which is defined as the religion based on the person and teachings of Jesus of Nazareth, or its beliefs and practices?

As to Hillary and BLACK LIVES MATTER, let’s go back to 2016 and an article in the Chicago Tribune entitled “Hillary Clinton isn’t afraid to say Black Lives Matter” by Dahleen Glanton on Jul. 27, 2016 where we had as follows:

The second day of Hillary Clinton’s Democratic National Convention could have been subtitled “Black Lives Matter.”

It was a carefully orchestrated strategy, designed to appeal to African-American constituents — the bread and butter of the Democratic Party’s base.

end quotes

So what kind of America are the Democrats trying to turn this nation into?

Are we with white skin to be considered as lesser citizens, second-class citizens, in the America the Democrats envision?

Think carefully, people, for the future is NOW!

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Post by thelivyjr » Mon Oct 05, 2020 1:40 p


"First test of Fed’s new inflation-friendly policy could come in the spring"

By Greg Robb

Last Updated: Oct. 5, 2020 at 10:55 a.m. ET
First Published: Oct. 5, 2020 at 10:54 a.m. ET

The first test of the Federal Reserve’s new found tolerance for inflation could come as soon as next spring.

That was a suggestion contained in a speech by Chicago Fed President Charles Evans on Monday.

In remarks to the National Association for Business Economics, Evans said that annual inflation readings might “temporarily” be above 2% next spring “as the large drops in prices this year fall out of the annual calculations.”

The Fed has promised to maintain its policy rate at the current zero to 0.25% range until inflation has reached 2% and is on track to moderately exceed 2% for some time.

“I want to emphasize ‘for some time,'” Evans said.

This suggests he did not think the short-term spike would be enough to push the Fed to raise interest rates.

How much above 2% inflation would the Fed tolerate, and for how long?

Evans said the Fed wouldn’t follow a strict numerical formula.

The Chicago Fed president said he would argue to his colleagues that the central bank “can’t be timid.”

“To reduce employment shortfalls and average 2% inflation over time, the FOMC needs to have an ‘in it to win it’ attitude toward our inflation objective, he said.

He noted that tolerating a 2.5% inflation rate could get the Fed to its policy goals quicker, even if some would think this was an excessive overshoot.

Last month, newswires reported that Evans said the Fed plan allows for a rate hike before inflation averages 2%.

Evans defended himself, saying this was just a plain reading of the Fed’s new policy.

In his speech Monday, Evans repeated that “our work on inflation might not be complete at the time of liftoff.”

But Fed policy would remain relatively easy or “accommodative,” he added.

This has been a hard sell in the past.

“Historically, communicating to the public that an upward march in policy rates is still accommodative has been met with substaintial skepticism and disbelief,” he said.

“All in all, I envision substantial communications work ahead."

"But it can be done,” he said.

Stocks opened higher on Monday with the Dow Jones Industrial Average up over 300 points.

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Post by thelivyjr » Mon Oct 05, 2020 1:40 p

THE CAPE CHARLES MIRROR October 5, 2020 at 8:16 pm

Paul Plante says:

So why in 1968 was Communism deemed THE major threat to OUR Nation?

And that answer really is quite simple!

To answer that question, of course, it is necessary to know two things, to wit:

* What really is Marxist-Leninist ideology based on; and

* What is the government of OUR Nation based on?

As we can see quite clearly from the above about the Red Terror, Marxist-Leninist ideology is based on what is known as “conflict theory,” which means in simple terms that if you are an adherent of Marxist-Leninist ideology, then you are always on the look-out for “enemies” to your class, even if you have to create them, which as we will shortly see, is what the Red Terror was all about.

As to what the government of OUR Nation is based on, let’s go to the National Constitution Center where we have as follows:

The Preamble

by Erwin Chemerinsky, Dean of Berkeley Law School; Jesse H. Choper Distinguished Professor of Law at the University of California – Berkley Law School; Michael Stokes Paulsen, Distinguished University Chair and Professor at University of St. Thomas School of Law

The Preamble of the U.S. Constitution — the document’s famous first fifty-two words — introduces everything that is to follow in the Constitution’s seven articles and twenty-seven amendments.

It proclaims who is adopting this Constitution: “We the People of the United States.”

It describes why it is being adopted — the purposes behind the enactment of America’s charter of government.

And it describes what is being adopted: “this Constitution” — a single authoritative written text to serve as fundamental law of the land.

Written constitutionalism was a distinctively American innovation, and one that the framing generation considered the new nation’s greatest contribution to the science of government.

end quotes

So, to be clear here, OUR nation happens to be We, The People, which includes not only white-skinned people and yellow-skinned people and red-skinned people and brown-skinned people, but Black-skinned people, as well, and the Constitution and its Preamble are law of the land to ALL of us, including people with Black skin.

Given that, as American citizens, regardless of skin color, we are not the enemies of other American citizens, and that is where the clash with Marxist-Leninist ideology comes into play, and why it was and still is THE major threat to OUR Nation – because the people who subscribe to that ideology need somebody to be their enemy.


Because the Marxist conflict theory they adhere to requires enemies.

And where BLACK LIVES MATTER has as one of its stated goals the ending of what they call “white supremacy,” in the end a stupid and meaningless term as is so much of the mindless horse crap and cant of Marxist-Leninist ideology, it is clear as crystal who they have chosen to be their enemies – all those with white skin, who Hillary Clinton has denounced as having some kind of mental disease called “implicit bias,” which requires them to need treatment, presumably in a Gulag, at hard labor.

Getting back to OUR Constitution, we have:

The word “preamble,” while accurate, does not quite capture the full importance of this provision.

“Preamble” might be taken — we think wrongly — to imply that these words are merely an opening rhetorical flourish or frill without meaningful effect.

To be sure, “preamble” usefully conveys the idea that this provision does not itself confer or delineate powers of government or rights of citizens.

Those are set forth in the substantive articles and amendments that follow in the main body of the Constitution’s text.

It was well understood at the time of enactment that preambles in legal documents were not themselves substantive provisions and thus should not be read to contradict, expand, or contract the document’s substantive terms.

But that does not mean the Constitution’s Preamble lacks its own legal force.

Quite the contrary, it is the provision of the document that declares the enactment of the provisions that follow.

Indeed, the Preamble has sometimes been termed the “Enacting Clause” of the Constitution, in that it declares the fact of adoption of the Constitution (once sufficient states had ratified it): “We the People of the United States . . . do ordain and establish this Constitution for the United States of America.”

end quotes

That applies to every single person in this nation, including the founders of BLACK LIVES MATTER, so that when they start spouting their Marxist-Leninist ideology horse **** about ending “white supremacy” forever, they are actively repudiating OUR Constitution, as if it does not apply to them, and thus, they are making themselves domestic enemies of the people of the United States of America.

Continuing right along, we have:

Importantly, the Preamble declares who is enacting this Constitution — the people of “the United States.”

The document is the collective enactment of all U.S. citizens.

The Constitution is “owned” (so to speak) by the people, not by the government or any branch thereof.

We the People are the stewards of the U.S. Constitution and remain ultimately responsible for its continued existence and its faithful interpretation.

end quotes

We the people as stewards of the U.S. Constitution includes the founders of BLACK LIVES MATTER.

However, with their overt threat to end “white supremacy” in the United States of America forever, the founders of BLACK LIVES MATTER are unilaterally declaring people with white skin outside the protection of the United States Constitution, which is to say, the goal of BLACK LIVES MATTER is to strip people in this country with skin that is white of equal protection under the law, which is a bedrock human right enshrined in OUR Constitution, as we see from the following:

“We the People of the United States” strongly supports the idea that the Constitution is one for a unified nation, rather than a treaty of separate sovereign states.

The idea of nationhood is then confirmed by the first reason recited in the Preamble for adopting the new Constitution — “to form a more perfect Union.”

The other purposes for adopting the Constitution, recited by the Preamble — to “establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity” — embody the aspirations that We the People have for our Constitution, and that were expected to flow from the substantive provisions that follow.

The stated goal is to create a government that will meet the needs of the people.

Finally, the Preamble declares that what the people have ordained and established is “this Constitution” — referring, obviously enough, to the written document that the Preamble introduces.

That language is repeated in the Supremacy Clause of Article VI, which declares that “this Constitution” shall be the supreme law for the entire nation.

end quotes

So why then would it not apply to the founders and followers and apologists of BLACK LIVES MATTER?

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Post by thelivyjr » Tue Oct 06, 2020 1:40 p


"Powell says U.S. economy needs more fiscal support"

By Greg Robb

Last Updated: Oct. 6, 2020 at 4:23 p.m. ET
First Published: Oct. 6, 2020 at 10:40 a.m. ET

Federal Reserve Chairman Jerome Powell on Tuesday reiterated his belief that the U.S. economy needs more fiscal support even though the recovery from the “natural disaster” of the coronavirus pandemic so far has been strong .

In a speech to the National Association for Business Economics, Powell argued it was better for Congress to provide too much fiscal support than the reverse.

“Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses,” Powell said.

This would lead more businesses to declare bankruptcy and for households to run into severe economic distress.

On the other hand, even if policy actions are more than is needed” it will not go to waste,” Powell said.

“The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods,” the Fed chairman said.

Both political parties in Congress assert they want to pass a follow up to the CARES Act in March which provided $2.2 trillion in financial aid to businesses and the unemployed, but Senate Republicans have complained the new fiscal stimulus backed by Democrats is too expensive and they want a more targeted approach.

Treasury Secretary Steven Mnuchin and Speaker Nancy Pelosi have been talking in an effort to break the stalemate over the stalled coronavirus relief bill.

Late on Tuesday, President Donald Trump said he was ending the negotiations on deal.

During a question and answer session, Powell said now is “not the time” to worry about getting the federal budget deficit back on a sustainable path.

In his speech, Powell praised lawmakers for the four earlier fiscal measures passed in March and April, calling them “by far the largest and most innovative fiscal response to an economic crisis since the Great Depression.”

The measures have muted the normal scary downward spiral that can occur when the economy slips into recession: where layoffs lead to lower consumer demand and thus more layoffs.

This has helped the economy recover strongly from the “natural disaster” of the coronavirus pandemic, he said.

But more help is needed because the outlook is highly uncertain.

“There is a risk that the rapid gains from reopening may transition to a longer than expected slog back to full recovery as some segments struggle with the pandemic’s continued fallout,” Powell said.

Even though the jobless rate has fallen to 7.9% in September from a pandemic peak of 14.7%, the labor market recovery “still had a long way to go,” he said.

Powell highlighted how low income households have born the greater brunt of the pandemic.

Employment of those in the bottom rung of the wage distribution scale remains 21% below its February level, while it was only 4% lower for workers who receive higher wages, the Fed chairman said.

Asked if he was concerned about a potential spike in inflation, Powell said disinflationary pressures persist all around the world.

“We are still seeing downward pressure on inflation and I think its appropriate for central banks and certainly the Fed to take that into account,” he said.

U.S. stocks fell Tuesday afternoon after Trump threw cold water on a stimulus deal, with the Dow Industrial Average closing down 375 points.

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Post by thelivyjr » Wed Oct 07, 2020 1:40 p

THE CAPE CHARLES MIRROR October 6, 2020 at 9:39 pm

Paul Plante says:

And while we are waiting for someone to tell us what meaning we should all take from that intimidating BLACK LIVES MATTER banner prominently posted on the front of City Hall in the Democrat-controlled city of Albany, New York, given that in a New York Post article entitled “Black Lives Matter co-founder describes herself as ‘trained Marxist’” by Yaron Steinbuch on June 25, 2020, BLACK LIVES MATTER co-founder Patrisse Cullors informed us in a newly surfaced video from 2015 that she and her fellow organizers are “trained Marxists” who spent years absorbing the Marxist-Leninist ideology that shaped her worldview, let’s go back to the Modern World History site on the RED TERROR to see what it takes to be a “class enemy” of those who hold to the Marxist-Leninist ideology derived from Marx’s conflict theory, to wit:

The Red Terror

Citation: C N Trueman “The Red Terror”

The Red Terror was carried out in post-revolutionary Russia by the Cheka headed by Felix Dzerzhinsky along with units of the Red Army.

The Red Terror started as a result of an attempt to kill Vladimir Lenin by Fanni Kaplin in August 1918 and the murder of the Cheka leader in St. Petersburg.

This failed assassination attempt on Lenin was used as a rationale for the secret police and the army to round up and deal with anyone suspected of counter-revolutionary activities.

end quotes

Pause here for a moment, and focus on the words “round up and deal with anyone suspected of counter-revolutionary activities,” which in our modern case would be all of us who don’t truckle and take the knee is submission to BLACK LIVES MATTER, which is something to think about, as we shall see by reading some further, to wit:

From his hospital bed Lenin instructed the Cheka to “prepare for terror”.

There was no obvious government body that could hold back the work of the Cheka.

Dzerzhinsky could simply explain the organisation’s work: for example the arrest and execution of 800 people in St. Petersburg in 1918 was explained away as those executed were ‘enemies of the state’ or ‘enemies of the revolution’.

Few were brave enough to argue with such an accusation in case they themselves were accused of the same crime.

end quotes

All of this is relevant, of course, because this is the ideology that the founders of BLACK LIVES MATTER adhere to, so that when we look at the BLACK LIVES MATTER banner flying over the entrance to City Hall in Albany, New York, the message we are being sent is chilling indeed – don’t be caught out being an “enemy” of their revolution, or things won’t be going well for you, which takes us back to that history, as follows, for a demonstration as to what I am referring to when I say that:

None of the 800 was put on trial.

They were arrested and then shot.

Dzerzhinsky himself said that the Cheka operated on a 24 hour basis: those who were held were usually dealt with within 24 hours.

The Red Terror last from September 1918 to October 1918 though some believe that it actually lasted until the end of the Russian Civil War.

The work of the Cheka during the Red Terror received the support of Lenin who argued on its behalf that the people they were dealing with were trying to re-establish into power those who had abused and exploited others in pre-revolutionary Russia.

end quotes

This is the same Lenin who is a hero-worshipped by the founders of BLACK LIVES MATTER, and by extension, their followers like the mayor of the sanctuary city of Albany, New York who has the BLACK LIVES MATTER banner flying over the entrances to City Hall in Albany, New York.

Getting back to the story, we have to wit:

Above all else Lenin wanted to keep what had been won during the months of 1917.

Therefore the Cheka was given effectively a free rein in Russia.

Someone’s occupation or the size/value of their house could be enough to seal their fate.

end quotes

And once again, take a pause to reflect on those words “Someone’s occupation or the size/value of their house could be enough to seal their fate” as we are told by BLACK LIVES MATTER that they are going to end “white supremacy” forever here in the United States of America, which takes us back to history, as follows:

Given that the future USSR was in chaos in 1918 and that the work was done by the secret police, it is hard to find accurate figures of those who suffered during the Red Terror.

It is thought that between 10,000 to 15,000 people were summarily executed by the Cheka between September and October 1918 in areas under the formal control of the Bolsheviks – such figures were published in official journals and openly publicised.

As there were no public trials, such figures cannot be verified.

Lenin himself gave the order for the execution of 50,000 in the Crimea alone.

end quotes

And yes, that is the same Lenin whose ideology the founders of BLACK LIVES MATTER embrace.

So what is the message being sent to us when we see flying over the entrance of City Hall in Albany, New York a BLACK LIVES MATTER banner?

How about BEWARE what the future holds for those of us with skin that is white.

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Post by thelivyjr » Wed Oct 07, 2020 1:40 p


"Minutes of Fed’s meeting show unease among officials over new interest-rate strategy"

By Greg Robb

Published: Oct. 7, 2020 at 2:51 p.m. ET

Federal Reserve Chairman Jerome Powell and his allies on the central bank faced skepticism and opposition in trying to guide markets about the future path of interest rates, minutes of their September meeting released Wednesday reveal.

After their meeting, the Federal Open Market Committee released a statement vowing to keep interest rate near zero until inflation is on track to moderately exceed the central bank’s 2% target for some time.

Fed officials also released projections showing they expected rates would stay near zero until the end of 2023 at least.

There were two dissents from the new forward guidance from the ten voting members of the committee.

It wasn’t known until the minutes were published Wednesday that unease about the new policy was fairly broad among the remaining seven officials who didn’t vote.

According to the minutes, “several” of these Fed officials balked at the strategy, in part because the guidance could limit the central bank’s flexibility.

They also argued that by influencing the market’s view about the future path of short-term interest rates, “such guidance could contribute to a buildup of financial imbalances that would make it more difficult for the FOMC to achieve its objectives in the future.”

A “couple” of Fed officials argued against the strategy for different reasons.

They wanted the Fed commitment to keep interest rates near zero to be even stronger and less qualified.

They wanted the Fed to say that the policy rate would remain near zero until inflation had moved above 2% for some time.

In what might cause confusion to investors, Fed officials stressed the new strategy was not “an unconditional commitment” to a particular path of interest rates.

Information pointing to a stronger economic recovery in the wake of the coronavirus pandemic would tend to lead to expectations for a shorter period of rates being kept near zero and vice versa, the Fed said.

Many market observers tend to talk about the Fed “promising” to keep rates at zero until 2024.

Stocks were sharply higher on Wednesday, with the Dow Jones Industrial Average up over 500 points in afternoon trading.

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