Federal Reserve

Another good one from Marine Greg.  As you read this, remember a couple of things. One is the economic definition of inflation in layman’s terms: “Too much money chasing too few goods.” And secondly, one of the truisms I learned in Econ 101 is: Put five Economists in a room and ask them a question, and you will get six answers, all different. Why is that? Because Economics is a social science, not a hard science

 

A Binging Pivot                                                                      By: Greg Maresca

It was one of the most anticipated announcements of Joe Biden’s presidency that was nearly on par with him dropping out of the presidential race and fading to irrelevance.

For the first time since 2020, the Federal Reserve cut interest rates by half a percentage point making the range between 4.75% and 5% with anticipation of more to come.

“The U.S. economy is basically fine,” claimed the chairman of the Federal Reserve, Jerome Powell, who made the cut regardless and seemed unconvinced about anything else. To no surprise, the stock market approved following up with record highs.

When deciding on rates, The Fed has always been a reactionary institution that relies on historical data and models like the Phillips curve that was debunked two generations ago. Cutting rates will grow the money supply and bring some relief from higher interest rates. The Fed is putting pressure on inflation to bring down interest rates as the way to manage our exploding deficits.

The rate cut will only fuel inflation – an unwritten and unrestricted tax on everyone – no exceptions.

The interest rate was at a historical average, but the national financial sector and the Washington bureaucratic swamp are addicted to cheap money that makes $50,000 cars and $300,000 homes seem affordable. Over time this money infusion will make those cars and houses even pricier. Believing cheap money is the driving force of economic prosperity is as counterfeit as they come. Such behavior increases demand without an increase in supply – the root cause of inflation. Keep in mind that both food and fuel are excluded from inflation calculations.  This, my friends, is unknown to most Americans. Should food and fuel be added to the inflation number, you would be shocked.

Interest rates are The Fed’s dependent drug.

“When is the next cut coming and how big?”

A half of a percent reduction suggests the economy and its capacity for job creation is not nearly as good as Powell or any other entrenched government bureaucrat will admit.

There was no need for the cut, but lower rates produce lower mortgages and pacifies the masses making them feel better about the current political and economic situation.

The Fed, “a nonpartisan agency,” put its thumb on the scale during a presidential campaign begging the question: Is The Fed an impartial and independent agency or beholden to politics and Wall Street? Lowering rates at the expense of higher inflation seems self-serving in the run up to a presidential election that is less than six weeks away.

Powell, who served as carnival barker for the Biden administration’s highest inflation rates in over 40 years, told us inflation was “only transitory” is doing his best to foster a post-inflation merry go round.

The Fed’s decision is analogous to the hangover coming the morning after a Friday night binger. This economic hangover, however, will conveniently occur after November’s election, so make sure you start your Christmas shopping early as none of this bodes well for glad tidings.

Typically, The Fed cuts rates in response to economic downspin, not because of a supposed stable and growing economy. Provided the economy goes south with rates already low, this only serves to dig the hole deeper.

The real issue that is ignored, dismissed or unacknowledged is the ever-increasing federal spending. Every dollar spent, pilfers a dollar through taxes, borrowing or money-printing. Unless there are cuts to spending and debt reduction, nothing changes diminishing even further the fading American dream.

How about less government and regulation and more innovation and investment to drive the economy.

The cut is all about the election and The Fed’s preferred outcome. It is nothing short of a lame attempt to prop up the incumbent executive branch that would certainly preserve Powell’s job. No need for the bureaucrats to fret as it is always the working class that takes the brunt of the foibles of incessant government intervention.

The cut also implicitly implies The Fed overplayed its hand and is concerned about a recession.

Prematurely cutting interest rates is the perfect recipe for an increase in inflation. The dollar lost 20% of its value in just three plus years turning greenbacks into proverbial toilet paper.

The Fed’s rate cut in a supposed stable and growing economy only kicks the inflation can farther down the road until after November’s election.

How politically expedient.

Our Bloated Govt is Dysfunctional

If you ever had any doubt that our Federal Government has become a bloated bureaucracy with so many agencies that have their own “protocols,” many of which differ from each other, than you have been living under a rock. I learned a basic principle during my time in the Corps: “A leader is responsible for everything his/her command does or fails to do.” Go to the top and question the Director of Homeland Security, Jeh Johnson, they all belong to him,  As the director he leads the third largest Department of the U.S. government, with a workforce of 229,000 employees and 22 components including TSA, Customs and Border Protection, Immigration and Customs Enforcement, U.S. Citizenship and Immigration Services, FEMA, the Coast Guard, and the Secret Service — just to name a few. He needs a “sit down” with the heads of all his agencies and DEMAND they get their stuff together. But, you know what? That will never happen until some heads swing. Come on Trump, we need you to clean house!

Federal immigration boss at center of turf war over terror suspect transferred on heels of damning report

 

The U.S. Citizenship and Immigration Services supervisor who an Inspector General’s report did not name but blasted for keeping Department of Homeland Security agents from Enrique Marquez is Irene Martin, who, according to her Linkedin.com account, has been with the agency for at least 16 years, 13 years as a field supervisor.

Homeland Security Investigations is part of Immigration and Customs Enforcement (ICE), which, like U.S. Citizenship and Immigration Services, is part of DHS. Martin refused to allow the agents access to Marquez.

It is not clear what disciplinary action Martin could face, but the report last week faulted her for making agents wait more than 90 minutes before she gave them access to related files on the suspected terrorist, and then she dismissively ordered them to hand copy files, according to the federal report. Agents told building security they intended to arrest Marquez to prevent him from killing anyone, but Martin had them wait 30 minutes just to see her. When questioned by IG investigators later, Martin repeatedly changed her story and also contradicted what other witnesses said.

“We concluded that the USCIS Field Office Director at the San Bernardino office improperly delayed HSI agents from conducting a lawful and routine law enforcement action…” the report said. “We have also concluded that the Field Office Director was not candid with OIG investigators during her interview.”

Jeff Carter, chief of media relations for USCIS, told FoxNews.com late Monday that “to his knowledge there is no further investigation into Martin,” and her transfer become acting deputy district director was planned before the audit was released.

Martin, who formally oversaw San Bernardino and Riverside as well as Los Angeles counties, did not return emails to FoxNews.com. USCIS in California referred calls to its Washington headquarters, where officials refused to comment. However, experts and former law enforcement agents told FoxNews.com Martin’s actions amounted to obstruction of justice.

“The USCIS field director’s behavior was not only outrageous and reprehensible, but in violation of federal law and policy that ensure any law enforcement agency the ability to make arrests or conduct interviews in government facilities,” said Jessica Vaughan, of the Center for Immigration Studies, a Washington-based research institute. “I cannot imagine any possible excuse for her actions, and it is doubly concerning that she apparently lied to the investigators about what she did. She needs to be fired, not to mention prosecuted.”

Although Marquez was only a “person of interest” a day after the attack, authorities were frantically trying to track down anyone associated with Farook and Malik. Both Farook and Malik were killed by law enforcement after their morning attack.

“When agents show up to CIS for a criminal investigation, they should never be impeded. That is obstruction of justice,” said Claude Arnold, retired special agent in charge for ICE’s Los Angeles bureau of Homeland Security Investigations.

Martin is not named in the Inspector General report released June 1, but large portions of the 9-page report to Congress are dedicated to documenting the field supervisor’s actions. Internal sources confirmed Martin’s identity and the USCIS web site still lists her as the field supervisor.

“When interviewed by OIG, the field office director denied telling the agents they were not allowed to arrest, detain, or interview anyone in the building,” the report states. “However, her account is contradicted by that of the other HSI agents present.

“She also gave inconsistent answers about when she discovered that the HSI agents were investigating the shootings from the day prior….Either version is contradicted by the building security officer….”

Arnold said the allegations in the Inspector General’s report indicate criminality.

“It is pretty standard across the federal government that if someone engages in criminal misconduct related to their professional duties, it is also a removable offense,” he said.

The report notes Martin had no authority to hold up the agents who were justifiably concerned that Marquez and Chernykh may pose a threat to the occupants and visitors of the USCIS facility. Marquez, who is now in jail and awaiting trial on charges related to supplying the guns as well as marriage fraud, has pleaded not guilty.

Senate Committee on Homeland Security and Governmental Affairs Chairman Ron Johnson, R-Wisc., requested the IG investigation.

“The DHS was created to unify and improve coordinated efforts to defend our homeland. Refusing to allow armed ICE agents into a USCIS facility to detain a suspected terrorist just a day after a deadly terrorist attack is disturbing,” Johnson told FoxNews.com. “It is my hope that the DHS takes this incident seriously and improves its coordination so that something like this never happens again. The safety of all Americans depends on it.”

sgtmajorThe sad thing is no one cares about this “stuff” because it doesn’t personally affect them, especially the Millennials. We need a Marine Sergeant Major to run this incompetent organization.

Originally posted 2016-06-07 12:06:32.

Young Marines of Fox Valley

Young Marines
Young Marines

I’ve been drafted! No, not back into the Corps, but pretty close. Well, to be truthful—I did actually volunteer, but with much trepidation. The Marine Corps League (MCL) of Elgin, IL had been trying since January to start a Young Marines unit in their area. They had some folks interested, but no one would step up to be the Unit Commander. Then somehow, my MCL in McHenry County learned of their need and unbeknownst to me, threw my name in the ring.

I went to their website (www.youngmarines.com) and the more I read, the more interested I became. Finally, the first part of April, I gave in and agreed to take on the responsibility of Unit Commander. We have an XO, Adjutant, and three registered adults (Nancy is one of them). I will assume the billet of Training Officer until I find a Marine qualified for the job. 🙂  We are still feverishly in search of a Paymaster, but until found the XO will handle that job.

We have been hard at work setting up everything for the past few months. I finally received our charter and our 501 3c letter from the IRS last week. Now I’m waiting for the packages to arrive with all our “stuff” e.g., flag, guidon, etc.

We have ten children who have already signed up to become Young Marines. We must conduct a twenty-six hour syllabus appropriately entitled “Boot Camp” to be designated as a Young Marine Private. Until then, they are, what else — “Recruits.” Perhaps many of you have heard of the Young Marines. If not, I would encourage you, when you have few free minutes. to peruse their website and see what they are all about – www.youngmarines.com. This organization is NOT a recruiting tool for the Corps. It has; however, been sanctioned by the Corps. The unit adheres to the Corps’ credo of Honor, Courage, and Commitment, wears Marine utilities (without the EGA), uses the Corps’ grade structure, and teaches many of our principles and leadership traits. Their mission is to: “positively impact America’s future by providing quality youth development programs for boys and girls that nurtures and develops its members into responsible citizens who enjoy and promote a healthy drug free life style.” Their motto is: Strengthening the lives of America’s youth.

Lord knows a mission and a motto like that is something we sorely need. I have been reborn. By that I mean I am excited to have the opportunity to use what the Corps taught me during all those years to try and have some impact on today’s children and to pay back to our once great nation for what I have been blessed with at my age and station.

We do not receive federal or state grants and no funding from the Corps or the Young Marines HQs. We will get some help from the MCL in Elgin. We survive through donations and by holding fund raisers.  It is costly to become a Young Marine. Our XO and I visited a unit south of us and their fee to join is $589. That got them a set of utilities, pair of boots, cover, PT shorts and shirt and a few other garments and items they would need. I can’t and won’t do that. To begin with, families in our area are hurting,  I cannot expect parents with two children to dish out a thousand dollars to enroll them in the program, or have to make a decision to only enroll one.

So, I am asking for donations, every penny will help provide a young boy or girl the chance to learn the necessary skills to become a success and in some small way help this once great nation get out of the sick state we now find ourselves. We are a 501 3c non-profit organization; therefore, all donations are tax deductible. Just yesterday, the XO opened the unit’s account at a local bank. Any donation would be greatly appreciated. Checks can be made out to “Young Marines of Fox Valley,” and mailed directly to me at:

4303 East Drive Crystal Lake, IL 60012

Or, if you have a “Fifth Third” bank near you, you can simply go in and tell them you want to make a donation to the “Young Marines of Fox Valley” and they will handle it

I thank you so very much. This was very humbling to have to go out to my friends and Marines Corps family asking for help. I would never do so if I did not believe it is for a good cause.

Thank you, Gy Bathurst has awoken. 🙂

As always, Semper Fi;Jim Bathurst

 

Originally posted 2016-06-04 21:42:20.

Once More – Go Army (but where)

This has got to be the saddest piece I have read thus far about what is happening to our U.S. Army. If it weren’t so sad and tragic, it would be hilarious! The comments in red are mine. Sorry, I just could not help myself. Wake up America, we are doomed!

BoykinBoykin bounced: Fort Riley cancels Delta Force hero’s prayer breakfast speech.

A Kansas military base abruptly canceled an upcoming prayer breakfast that featured retired Lt. General Jerry Boykin after complaints were lodged that Boykin is anti-Muslim and anti-gay.

Military Religious Freedom Foundation founder Mikey Weinstein told Army Times that Boykin’s invitation had caused great angst among soldiers at Fort Riley – leading some to break down in tears.

“I have clients of ours weeping on the phone about this,” he said. Weeping? Oh, please. OMG, the soldiers were crying because they were upset. OMG OK men, fix bayonets, and follow me CHARGE! Yeah right. OMG

“I sincerely doubt that America can expect to win wars if the people who are tasked to do so are frightened by an old retired general with biblical views and a testimony of faith,” Boykin told me.

Boykin, an original member of Delta Force and an executive vice president of the Family Research Council, was scheduled to deliver remarks at a June 6th prayer breakfast. The event was set to be held in conjunction with the 1st Infantry Division’s Victory Week celebration.

The MRFF launched a protest on May 31 accusing the retired three-star general of being a “homophobic, Islamophobic, fundamentalist Christian extremist.”

“He sows hatred and heinous divisiveness with his sickening screed of fundamentalist Christian supremacy, primacy, exclusivity and triumphalism,” Weinstein wrote in a complaint to Fort Riley.

Mr. Weinstein might want to consider cutting back on caffeine – and adjectives. Yeah, I think he needs to crawl back under his rock!

He went on to label the decorated military hero as a “World Class bigot” and threatened to sue unless Boykin was ejected.

Gen. Boykin told me the cancellation is “just another reminder of the incredible discrimination against Christians in our armed forces.”

“This should tell you how difficult it is for Christians, and especially chaplains, to live their faith in our military,” he told me.

I reached out to Fort Riley and they confirmed that the prayer breakfast has been called off. They blamed the cancellation on a scheduling conflict and said it would be rescheduled. Yeah right, who’s schedule? 

“Lt. Gen. (Ret) Boykin’s credentials as a Soldier and leader speak for themselves and his 36 years of service to our nation are worthy of our respect,” Chief Public Affairs NCO MSG Mike Lavigne told me in a statement. “However, in an effort to ensure everyone in our broad and very diverse community feels welcome at any event on Fort Riley, we will pursue the invitation of a different speaker for the prayer breakfast once it is rescheduled.” There’s that word, diverse” again. you have to use it in every sentence when trying to explain the morbid, insane, idiotic, and ludicrous goings-on in our military today. It’s all about diversity, nothing about mission capability.

Now, it’s important to follow the timeline on this story. Boykin was extended an invitation to speak on March 31. On June 1, the MRFF filed their complaint and 23 hours later Fort Riley canceled the breakfast.

However, Fort Riley denies the MRFF complaint had anything to do with their last-minute decision to drop the prayer breakfast – calling it a “coincidence of unfortunate timing.” Yeah right, who is the commander of Fort Riley I wonder. Perhaps an up and coming Kool Aid drinker?

Folks, now you know that I deeply admire and respect the Armed Forces – but you could plant a mighty big crop of butter beans with the kind of fertilizer coming out of Fort Riley.

Mr. Weinstein makes a very comfortable living by bullying the military into eradicating public displays of the Christian faith within the Armed Forces.

Most recently, the MRFF has been successful in forcing the military to remove Bibles from “Missing Man” displays.  And they aren’t big fans of the Baby Jesus either.

The MRFF demanded those responsible for inviting Boykin (base chaplains) be “aggressively investigated and visibly punished.” Who does this jerk think he is?

So what kind of punishment would be suitable Mr. Weinstein and his MRFF minions? Would they be satisfied if the chaplains were stripped naked, tied to a pole and beaten with a whip?

Boykin said he understands that Fort Riley’s commander was “caught between radical secularists and a Commander-in-Chief who seeks to impose a politically correct culture on the military.”

“The Fort Riley commander is in a tough spot,” he said. “However, he must remember we all took an oath to support and defend the Constitution – all of it, including the First Amendment.”

Sadly, I’m afraid the Constitution doesn’t have a prayer at Fort Riley. Well put General Boykin, but you simply should have called your fellow soldier  who commands Fort Riley exactly what he is — a coward!

Todd Starnes is host of Fox News & Commentary, heard on hundreds of radio stations. His latest book is “God Less America: Real Stories From the Front Lines of the Attack on Traditional Values.” Follow Todd on Twitter@ToddStarnes and find him on Facebook.

Originally posted 2016-06-03 12:46:20.

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