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Kenneth Schortgen Jr.

Fed Governor spins more propaganda as Brainard blames income inequality over bank’s policies for declining growth

Perhaps it should come as no surprise that an individual who grew up in a Communist environment, and later became a favorite of the Obama administration, would blame income equality as the primary reason why the economy has not recovered much over the past decade.  But this is exactly what Lael Brainard, a member of the Federal Reserve Board of Governors, preached in a report on the current state of the eco ...

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Even with legitimizing Bitcoin for commerce, Japan wants to replace cash with its own cryptocurrency

With money velocity in Japan's economy at excruciating lows, the government decided a few months ago to allow a private cryptocurrency to proliferate in commerce.  But even with the acceptance of Bitcoin in their general economy, Japan is seriously looking at creating its own sovereign crypto to replace the people's reliance upon cash. Authorities in Japan are considering starting a digital currency to be c ...

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The economics of NFL protests continues as DirecTV facilitates customers who want to cancel football packages

If there was ever an event that could potentially divide a large portion of the country, it could very well be a National Football League game.  This is because on nearly all given weeks, more people watch football on television and at stadiums than they do any other sport or entertainment broadcast. And besides the more obvious division between fans in choosing one team over another, the irony that is grow ...

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U.S. sanctions against Russia have now helped replace Exxon Mobile with Gazprom as world’s largest energy company

Perhaps one of the biggest ironies in the ongoing sanctions war against Russia is that the U.S. continues to shoot themselves in the foot the more they try to impose their economic will on Moscow. Over the past four years both the U.S. and Europe have seen economic declines once they chose to place a 'red line' against Russia over Washington's own funded Maidan coup in Ukraine.  And in the meantime, Russia ...

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Liberals lose their ‘Trump card’ over refugee ban as the President adds non-Islamic nations to the list

One can never expect to win an argument with liberals since they have no understanding of the use of logic and reason.  However, they are very good at obfuscating issues by using emotional stimulus to try to garner favor to their side, and this was especially prevalent when President Trump issued his first travel and refugee ban earlier this year. However on Sept. 24 the President issued an updated list of ...

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Leaked Tax Reform plan misses the boat completely since America is a consumer economy, not a manufacturing one

Earlier this afternoon Axios published what they called a 'leaked' outline of President Trump's planned legislation for tax reform.  And of course both Republicans and Democrats in Congress responded with their tired old complaints about the rich not being taxed enough, and the deficit not allowing for large cuts. However none of their arguments actually hold any water since the majority of big corporations ...

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Ratings agency hypocrisy continues on as S&P downgraded China over debt, but ignores U.S.’s 105% debt to GDP

On Sept. 21, S&P ratings agency downgraded China for what they determined as 'risks involved in debt expansion', and this move follows a similar one done by Moody's ratings agency a few months ago against the Far Eastern economy. However neither of these arbiters of credit worthiness have sought fit to impose the same decline on America's own sovereign rating, and this despite the fact that the governme ...

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Insane regulations within the state of Florida are hampering citizens from returning to their lives

Almost everyone, including the biased media gave the Trump administration high grades for the Federal government's efforts in aiding people during Hurricane's Harvey and Irma.  But sadly the same cannot be said for the state of Florida as years of insane regulatory statutes are making people returning to their homes a living hell. In fact there are two laws in particular which are severely hindering the reb ...

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U.S. trade and account deficit hits highest quarter in more than eight years

While President Trump belligerently threatens China with a trade war, the U.S. continues to rely too much upon foreign imports for much of their goods.  And in new data out on Sept. 19, the account deficit for trade reached an eight year high as the U.S. found itself down $123 billion for the second quarter. The deficit in the broadest measure of US trade rose to the highest level in more than eight years t ...

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Next retailer prepares for bankruptcy as financial woes hit Toys R Bust

Unlike 2008-2010 when the Financial Crisis and subsequent Great Recession primarily hit the banks, 2017 will be known in economic history as the year that brick and mortar retail began to die.  And with several short and long-standing retailers having already filed for bankruptcy protection this year, the next one that appears to be on the docket is none other than Toys R Us. Over the weekend, we reported t ...

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India joins in on the bandwagon of sovereign governments potentially creating their own cryptocurrencies

Since cryptocurrencies are pretty much in the infant stages of acceptability and understanding, sovereign governments as a whole are on the fence in how to deal with de-centralized money.  However within the BRICS nations there is a growing trend towards co-opting the blockchain platform for their own benefit, and this is leading a majority of the countries within this coalition to begin a serious study on ...

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When it comes to government healthcare who is more ignorant? Bernie Sanders or the constituents that voted for him

Criticizing voters is not exactly fair since the Constitution protects the rights of the ignorant as well as the educated in their casting of ballots for whomever they so desire.  However when the People have to deal with a number of Congressmen and women in both the House and Senate who really have no business being there, who else can Americans blame since decisions made by these individuals can often hav ...

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