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Showing posts with label inflation. Show all posts
Showing posts with label inflation. Show all posts

Monday, February 28, 2011

New Protest Attempts Squashed. Libyan Food Prices Skyrocket!

Libya quashes protest in Tripoli; West to aid east

Published: Monday, Feb. 28, 2011 8:45 a.m. MST
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TRIPOLI, Libya — The West moved to send its first concrete aid to Libya's rebellion in the east of the country, hoping to give it the momentum to oust Moammar Gadhafi. But the Libyan leader's regime clamped down in its stronghold in the capital, quashing an attempt Monday to hold new protests as residents reported skyrocketing food prices from the crisis.
The two sides in Libya's crisis appeared entrenched in their positions, and the direction the uprising takes next could depend on which can hold out longest. Gadhafi's opponents, including mutinous army units, hold nearly the entire eastern half of the country, much of the oil infrastructure and some cities in the West. Gadhafi is dug in in Tripoli and nearby cities, backed by security forces and militiamen who are generally better armed than the military.
In the two opposition-held cities closest to Tripoli — Zawiya and Misrata — rebel forces were locked into standoffs with Gadhafi loyalists.
In Zawiya, some 30 miles (50 kilometers) west of Tripoli, residents said they were anticipating a possible attack by pro-regime troops to try to retake the city. "Our people are waiting for them to come and, God willing, we will defeat them," said on resident who only wanted to be quoted by his first name, Alaa.
In Misrata, Libya's third largest city 125 miles (200 kilometers) east of Tripoli, skirmishes took place overnight between rebel forces controlling the city and troops loyal to Gadhafi, according to residents. Each side controls part of a sprawling air base on the outskirts of the city, and neither was able to make any gains in the latest sporadic fighting, they said.
Gadhafi opponents have moved to consolidate their hold in the east, centered on Benghazi — Libya's second largest city, where the uprising began. Politicians there on Sunday set up their first leadership council to manage day-to-day affairs, taking a step toward forming what could be an alternative to Gadhafi's regime.

Read more here...http://www.deseretnews.com/article/700114018/Libya-quashes-protest-in-Tripoli-West-to-aid-east.html?s_cid=rss-32

Wednesday, June 24, 2009

Fed Evaluating Radical Economic Programs

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer –

WASHINGTON – With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.

Most economists predict that Fed Chairman Ben Bernanke and his colleagues, who resumed meeting Wednesday morning, won't launch any bold new efforts at the end of their two-day gathering.

Fears have grown on Wall Street that the Fed's radical efforts to lift the country out of the longest recession since World War II could ignite inflation later on.

"Injecting additional money into the banking system is a pretty dangerous game right now, and the Fed cannot afford to press on the accelerator amid a potentially inflationary environment," said Richard Yamarone, economist at Argus Research.

Wanting to snuff out any rise in inflation expectations, the Fed could opt to tweak its already-announced programs to slow down purchases of either government debt or mortgage-backed securities. Doing so also could help avert possible market disruptions and make it easier for the Fed to reel in these programs once the economy rebounds.

Read More From Source Here

Thursday, June 4, 2009

Printing Money, Domestic Inflation WILL Rise.

No Sunshine and Lollipops in the U.S. Economic Future
June 4th, 2009 1:29 pm | by Mike Miller of Liberty Maven

If you’ve been following the actions of the Federal Reserve, the Treasury Secretary, and big spenders in government, it’s quite clear that our economic woes won’t be over any time soon. In fact, we’re potentially headed for a cataclysmic disaster (if that’s not repetitively redundant enough for you).

The Fed has lowered interested rates to effectively zero, and is now embarking on massive quantitative easing (a fancy euphemism for printing money) which could ultimately result in the destruction of the U.S. Dollar.

China is buying less and less of our bonds, and foreign governments are holding less and less dollars in favor of the Euro or other currencies, and there are even calls to have the dollar replaced as the world’s reserve currency.

US Treasury Secretary Timothy Geithner has gone to China to calm the fears. However, even before he arrived, a Chinese central bank spokesman gave Geithner the message that the US should not assume China will continue to finance Washington’s extravagant budgets. The governor of China’s central bank is calling for the abandonment of the dollar as reserve currency, using the International Monetary Fund’s Special Drawing Rights in its place.

The method by which the Fed “prints money” is by creating money out of thin air and then uses this money to buy our own Treasuries.

Washington’s financial irresponsibility has brought pressure on the dollar and the US bond market. Federal Reserve Chairman Bernanke thought he could push down interest rates on Treasuries by purchasing $300 billion of them. However, the result was to cause a sharp drop in Treasury prices and a rise in interest rates.

As monetization of federal debt goes forward, US interest rates will continue to rise, worsening the problems in the real estate sector. The dollar will continue to lose value, making it harder for the US to finance its budget and trade deficits. Domestic inflation will raise its ugly head despite high unemployment.

The incompetents who manage US economic policy have created a perfect storm.



Life for most Americans will become truly stressful.

No sunshine and lollipops here.

Read As the Dollar Falls off a Cliff… by Paul Craig Roberts in its entirety and subscribe to Liberty Maven.

Friday, May 22, 2009

200% Civil Penalties

The following are two bills that need attention that are going through the process in Congress at this time. These will cost money to all who are already suffering in these trying times. Call your representatives!

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Comprehensive Transform America Transaction Fee Act of 2009

H. R. 1703
To require a study and comprehensive analytical report on transforming America by reforming the Federal tax code through elimination of all Federal taxes on individuals and corporations and replacing the Federal tax code with a transaction fee-based system.


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S.826 American Renewable Energy Act of 2009

(The following is a small part of the new tax issues)

b) Renewable Electricity Requirement-

`(1) REQUIREMENT-

`(A) IN GENERAL- Subject to subparagraph (B), each electric utility that sells electricity to electric consumers shall obtain a percentage of the base quantity of electricity the electric utility sells to electric consumers in any calendar year from new renewable energy or existing renewable energy.

`(B) PERCENTAGE- The percentage obtained in a calendar year under subparagraph (A) shall not be less than the amount specified in the following table:

Minimum annual

`Calendar years:/ percentage:
2010 / 2%

2011 / 3%

2012 / 4%

2013 / 5%

2014 / 6%

2015 / 7%

2016 / 8%

2017 / 9%

2018 / 11%

2019 / 13%

2020 / 15%

2021 / 17%

2022 / 19%

2023 / 21%

2024 / 23%

2025 / 25%

...(d) Enforcement-

`(1) CIVIL PENALTIES- Any electric utility that fails to meet the compliance requirements of subsection (b) shall be subject to a civil penalty.

`(2) AMOUNT OF PENALTY- Subject to paragraph (3), the amount of the civil penalty shall be equal to the product obtained by multiplying--

`(A) the number of kilowatt-hours of electric energy sold to electric consumers in violation of subsection (b); by

`(B) the greater of--

`(i) 2 cents (adjusted for inflation under subsection (g)); or

`(ii) 200 percent of the average market value of renewable energy credits during the year in which the violation occurred.