[Grumpasaurus.com] A New Role for the Fed

'A New Role for the Fed'

The Fed, a secretive, unelected, group in the best of times has two goals to meet via their implementation of fiscal policy: one, keep unemployment low; and two, keep inflation under control. Where there’s ever been a conflict between 1 & 2, they’ve always, always picked inflation control over job growth.

Well, after this morning’s emergency session, and we have confirmation of a new third role for the Fed - they’re also Wall Street’s Bitch.

The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.

The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.

Oh, there had been hints before about the Fed pulling out the patent leather and gags any time their daddy fund managers came a’knockin, but today’s out-of-the-blue rate drop ices that cake. Or creams that banana. Or rims that job. Wev.

Now, given my current employment and market positioning, this is all good news for me, but I’m worried about what it means for the country. Because now we have a (quasi, but for all intents and purposes) governmental body making policy based on the whims of a tiny numbers of private corporations and individuals.

Then again, this is the third Gilded Age and a similar (though inverse) relationship has existed before, so maybe I shouldn’t be so surprised.

http://grumpasaurus.com/2008/01/22/a-new-role-for-the-fed/

[Grumpasaurus.com] Warrior for the Cause

'Warrior for the Cause'

Mark Deli Siljander, a former Republican congressperson from Michigan was indicted today as part of a conspiracy to funnel money terrorists who have threatened US troops in Afghanistan.

A former congressman and delegate to the United Nations was indicted Wednesday as part of a terrorist fundraising ring that allegedly sent more than $130,000 to an al-Qaida and Taliban supporter who has threatened U.S. and international troops in Afghanistan.

The former Republican congressman from Michigan, Mark Deli Siljander, was charged with money laundering, conspiracy and obstructing justice for allegedly lying about lobbying senators on behalf of an Islamic charity that authorities said was secretly sending funds to terrorists.

Siljander is a true warrior for the true GOP cause - money. It’s not about nationalism, jingoism, saving the troops, saving the unborn, saving christmas… it’s all about the benjamins. With regards to his true orthodoxy, Siljander is surely going to spend eternity with his 72 bags of glittery gold. Or the gold may be from the fronts of his soon-to-be cellmate smiling down at Siljander as Siljander performs his patented 72-lick salad toss. Hard to tell on these things. It’s heaven for one of them!

I give it approximately 30 10 minutes before Faux news “inadvertently” labels the GOP Republican GOP Republican GOP Republican GOP Republican GOP Siljander as “(D-MI)”. Oopsies! How’d that D get in there?

Read the indictment in my newly-opened “unfinished” legal bits section.

http://grumpasaurus.com/2008/01/16/warrior-for-the-cause/

[Grumpasaurus.com] Proud to be an Amurrikan!

'Proud to be an Amurrikan!'

where at least I know my GDPeeeeeeeee

For the first time in more than 100 years, British living standards have risen above those of Americans, a report has declared.

Increasing incomes, longer holidays and “free” healthcare have all contributed to making Britons better off than our friends across the Atlantic, according to the respected Oxford Economics consultancy.

Can we have that talk about socialized medicine v. free market health care discussion again now? How about that “Republicans are good for the economy” one?

http://grumpasaurus.com/2008/01/06/proud-to-be-an-amurrikan/