Federal Reserve

The Federal Reserve System (also known as the Federal Reserve, and as "The Fed") is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. The video below gives a brief explanation of The Fed. The articles below the video offer the views of progressives on the topic of The Fed

The Jobs Crisis, the “Unemployable,” and the Fiscal Cliff

black unemployment

Shamus Cooke: Aside from some sparse rhetoric, neither Democrats nor Republicans have offered a solution to job creation. Most politicians seem purposefully myopic about the jobs crisis, as if a healthy dose of denial might get them through the electoral season unscathed.

Neil Munro’s Incivility

obama aipac

Karen FInney: Rather than helping to further understanding about the policy being announced, Munro engaged in exactly the kind of provocative-for-the-sake-of-it “journalism” that cheapens our national debate on important issues.

The Federal Reserve Bank – National Day of Protest

Occupy LA Mural

Of the Federal Reserve Bank, Wikipedia says, The twelve Federal Reserve Banks form a major part of the Federal Reserve System, the central banking system of the United States. The twelve federal reserve banks together divide the nation into twelve Federal Reserve Districts, the twelve banking districts created by the Federal Reserve Act of 1913.[1] […]

Supercommittee Sins

supercommittee

Brent Budowsky: The sin of the supercommittee is that it has merely mirrored the old-think politics it was created to rise above.

Time for an Economic Bill of Rights

america's economy

Ellen Brown: What was sufficient for a simple agrarian economy does not provide an adequate framework for freedom and democracy today. We need an Economic Bill of Rights, and we need to end the privatization of the national currency.

A Jubilee for Student Debt?

student loan debt

Ellen Brown: Eliminating, reducing, or deferring student loan debt will free up the budgets of millions of students, allowing them to spend more on goods and services, increasing demand and creating jobs, and adding to tax revenues.

Inflation — Fighting the Last War

pat-toomey-wide

Steven Conn: For thirty years inflation has not been a serious threat to the American economy, yet politicians and pundits continually fret about it. The never-ending worry about inflation is like fighting the last war rather than the current one. What’s needed today is a war on unemployment and wage stagnation, not inflation.

Let’s Hope for Continued Fiscal Gridlock

starve the beast

Ivan Eland: The good news is that if the committee can’t reach an agreement on the fiscal changes, or if Congress rejects its work, defense (including homeland security) and domestic programs have to take equal cuts.

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