Did $3.5 trillion of Fed easing even work?

By Robert Romano The Federal Reserve’s tapering of quantitative easing continues, dropping from $25 billion a month of securities to $15 billion, according to the central bank’s latest statement. Since August 2007 when the financial crisis began, the Fed has dramatically expanded its balance sheet by $3.5 trillion, from $907.5 billion to $4.493 trillion. Today’s total includes $2.446 trillion U.S. […]

09.22.2014 in Economy, Featured by NetRight Daily 4

Housing collapse autopsy: A case of too little, too late

By Robert Romano “I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing.” That was then-Rep. Mel Watt (D-N.C.) in 2003 commenting on a then-Bush administration proposal to set up an independent regulator […]

09.19.2014 in Economy, Featured by NetRight Daily 9

It’s the debt, stupid!

By Robert Romano Household debt has outpaced household median income for almost 40 years, and we’re paying the price, the latest figures from the Federal Reserve and U.S. Census show. While median income for households grew by $929 to $51,939 in 2013, the amount of debt per household remained elevated at $106,921. A positive sign is that household debt is […]

House Republicans push to make subprime, higher risk lending easier?

By Robert Romano By now, the causes of the mortgage crisis that nearly wrecked the global economy in 2007 and 2008 are common knowledge. Too many high risk loans were made, too much credit boosted housing prices to the moon, too much leverage was taken on by financial institutions, and then, when the bubble came crashing down, not enough capital […]

09.15.2014 in Economy by NetRight Daily 0

Is Congress going to mess up TV?

The full version of this story originally appeared  on TheHill.com, linked below. By Rick Manning It is not all that surprising that a retiring Senate Committee chairman would be grasping in the last days in power for one last legacy achievement, but it is shocking when the ranking member seems intent on helping him achieve it. That appears to be […]

The unsinkable Export Import Bank

By Robert Romano On June 22, Fox News Sunday’s Chris Wallace asked newly minted House Majority Leader Rep. Kevin McCarthy (R-Calif.) if he “would allow the Ex-Im Bank to expire in September?” “Yes, because it’s something the private sector can be able to do,” McCarthy said at the time. Ahead of the June 18 House leadership elections necessitated by the […]

Pearlstein is right, time to end corporate welfare

By Robert Romano “If the government has no place insuring export loans, then surely it also has no place providing subsidized crop insurance to farmers…” That was Washington Post columnist Steven Pearlstein, commenting on the imminent demise of the Export Import Bank of the United States, a $27.3 billion a year loan program to supposedly “facilitate exports of goods and […]

09.08.2014 in Economy, Featured by NetRight Daily 5

The best social program remains a job

By Robert Romano On September 4, the Service Employees International Union (SEIU) and Fast Food Forward promised to shut down fast food joints across America in their Fight for $15 campaign. The groups propose increasing the minimum wage nationwide to $15 an hour from its current $7.25 level. The groups tout the increase as the means to lift millions of […]

09.05.2014 in Economy, Featured by NetRight Daily 3

The permanent poor?

By Robert Romano The unemployment rate on September 5 was reported at 6.1 percent, having dropped from a recession peak of 10.6 percent in January 2010, according to the Bureau of Labor Statistics. And while the Obama administration would like to put a positive spin on the current economic situation, including the jobs numbers, poverty statistics published by the Department […]

09.03.2014 in Economy by NetRight Daily 1

Happy days are here again?  Not so fast my friend

By Rick Manning The U.S. Commerce Department’s Bureau of Economic Analysis reported on the Friday before Labor Day that consumer spending dropped by 0.1 percent in July, confirming earlier reports that show retail spending’s steep slide since its peak in February. Some analysts doubted the earlier reported Retail Sales numbers as USA Today quoted Citigroup economist Peter D’Antonio as writing […]

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