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Americans desperately want U.S. economic growth.
According to the latest polls, "the economy" is by far the biggest priority to voters come the 2016 general election. Quinnipiac University's July survey found that 37% of Americans care most about the "economy and jobs." Next highest was "healthcare" (13%), followed by "terrorism" (12%). A CNN/ORC poll the same month reflected similar results: "the economy" was the top issue at 44%, then "healthcare" (20%) and "terrorism" (12%).
That means determining which Republican candidate has the best economic plan will speak volumes to that candidate's electability in 2016.
Money Morning Capital Wave Strategist Shah Gilani sees two candidates getting it right when it comes to tax plans and the Fed…
Watch the following video for his answer in a roundtable discussion on FOX Business' "Varney & Co." this morning – the network's follow up to its GOP debate last night:
Stay tuned to Money Morning for more on the 2016 presidential election. You can follow us on Twitter @moneymorning or like us on Facebook.
More and More Ben Carson Scandals Are Coming to Light: But whether any are true… well, that's a different matter. Last week, Carson battled the media over the factual accuracy of three anecdotes he'd told in his own books. Are these accusations part of a massive smear campaign, or did the good doctor tell a few bad lies?
All politicians show only they are utterly clueless!!! Not a glimmer of understanding is being demonstrated by any of them. Republicans are no more or less to blame than the Democrats.
They all tout the hopelessly false notion that the fed is like a household, that it can run out of money etc.
In fact the Fed government created the currency. It is the god of the currency and it can spend or buy anything for sale at any time and in any amount. It never needs to save its currency. It never needs to borrow its currency and it can never go bankrupt in its currency.
It can spend even if taxes fell to zero. It does not use tax money. This was made clear by Ben Bernanke on 60 minutes in 2009.
Politicians take note!
John Doyle, how can you say the Fed. govt. doesn't use tax money. Where does it get the trillions of dollars it spends? From admissions to Federal Parks? It cannot keep printing money endlessly or you will have double or triple digit inflation like Argentina did a few years ago. Why did the Fed used to balance the budget? It's got to be run like a household.
Joe Blough[really?!], excuse the late reply. I get no notification of replies so this is just a lucky break.
Let me assure you the government is NOTHING like a household. Households cannot create money. They use money already in use and have to budget etc to avoid going bankrupt. ONLY the Federal government can create money and it does so every time it pays a bill, for whatever the Fed has wanted to spend on, like the military, pensions , etc.
It has no theoretical limit as long as there is a debt to pay it can pay it. It can never go broke in dollars. After all the government created it and wrote the laws and regs to manage it over 200 years ago. Not a new phenomenon.
The common belief in a household option for the government is a false idea spread around by the politicians to strangle the peoples below the top 1% cohort. It is a convenient lie.
I'm new to Money Morning but the politics speak clear and as an Austrian Economist I like what I hear. John Doyle says and calls it as it is when it comes to the Fed and that is why I am fed-up with the Fed. They have proven time and time again that printing money and buying worthless asset classes can buoy a sinking economy. As it stands now the stock market is correcting slowly but surely. Until the Fed shows some backbone and start the deliberate but gradual increase in the fed funds rate to let some air out of the bond market bubble as well as stocks the fire to come will only be that bigger. Many of the great financial newsletter publishers like Stansberry, Bonner and Fitz-Gerald have been warning of the coming credit crisis and I believe it is here. Contrarians always sound the alarm long before the spark hits the kindle and when the countervailing forces act to smash out the spark the mainstream press, pundits, politicians and pen heads always say they overreacted to nothing. What would we do without this underground intelligence to protect the investor class?
The alarm has been hit and I hope the Fed acts as the countervailing forces are now in motion to stifle the spark and the call is to move from emergency policy and back to normalcy in monetary policy in spite of the ECB and the IMF political call for Yellen to hold her powder. That call is pure politics since the U.S. Fed is not banker of last resort for the world and savers and investors need a better reason than .01 percent to hold cash outside of the mattress.
If we want to save the market then raise rates and slowly let the air out as the economy can suck up that excess air and breath more jobs into the system that we know as a black box in the form of new investments and savings. Money goes no where when rates sit idly with ZIRP. What's the next experimental policy to come from Yellen and company? NIRP?
FOMC please take note!
Mr Doyle ;
Based on your statement above it is you sir who is completely clueless !!!!!!
Looks good
It is not arguable that our economy is in dire straits; the problem is compounded when the constituency seeks man-centered economic solutions for a divine retribution. Nothing of a trace of a solution will truly happen until we as a people recognize our True Creator God, and begin to serve Him properly with the honor and glory He deserves. Our Father God spoke this universe into existence for His good will and pleasure; He loves His creation so much that He chastens us when we turn from Him, while He could easily destroy us. Therefore our ONLY SOLUTION is to humble ourselves, pray; turn from our wicked ways and seek His face. Then He will hear from heaven and heal our land. The solution is simple and clear while also being so hard to implement at the same time; people by nature are sinful and unclean, in addition to being a proud and boastful lot. Humility and surrender to our Higher Power is not an easy step to take, but it is THE NECESSARY step for us to take if we want true resolution. The answer does not rest in a ballot box it can only be found on our knees. We MUST turn from our self-centered man made "solutions" and seek the help of our Divine Heavenly Father. Our Creator God is OUR ONLY SOLUTION. We were not "big banged" into existence, we were spoken into existence by a holy and powerful loving Heavenly Father; therefore we need to begin acting like it!
Well spoken Dr. Spear.
Also, we need to abolish our tax system and adopt Dr. Carson's 10% flat tax
to simplify the tax system and get U know who out of our lives once and for all. Our founders never wanted us controlled and taxed by U know who as they are feared by everyone and they are so criminal and corrupt.
Dr. Spear, you are indeed correct. Monetary policy, conservative vs. liberal politics will not change the disastrous route our country has taken. Without intervention from the almighty, we will shake. As one fellow put it, he is looking for a "Josiah" in the pack of Republican candidates. I am looking for a Jehu who will deal with Baal/Jezebel in the land without equivocation. Whoever it will be, if they do not provoke this nation's Christians to a 2 Chronicles 7:14 type of repentance, we will soon be in the clutches of a power saturated devil and his end time hosts.
Let me remind the world again that regardless of current and future global circumstances, the next USA President and king of the free world will be none other than Dr. Carson.
What a bunch of religious nonsense. Please give your head a good shake. Does this so called god provide you with money, food and shelter. Does he visit you and talk to you regularly. Think…. you people who don`t have a brain, this so called god does not even visit or talk to the POPE. Have you ever heard the POPE say he spoke to him and was visited by him. Get that through your head the human race is all alone on this planet and what we make of our lives and how the world turns out is by what we humans do. All the evil and murdering
that goes on in this miserable world every day, what is this so called god doing…..absolutely nothing. That alone should wake you all up, but it
never does. Religion is the biggest con game ever
to be perpetuated on humans. The big problem is
humans want to believe there is a god and will go to extremes to perpetuate this myth.
I suspect my comments will never be passed along for others to read, because you don`t agree with
my comments and people like you only perpetuate
the religion myth.
The writer above is spouting bad karma which will go back to him zillion times worse than he expected. He thinks he was born into existence without the miracle of his birth from God. Too bad because God is listening and he will get his penalties when he least expects it. I have seen people who do their bad karma to others, and end up suffering from their own bad karma in ways they can't handle anymore. God doesn't come to do things for us. He orchestrates events to happen for us, if we prayed to God for what we need in life. There was drought in our state. I prayed for rain, and the rains came, thank you Lord!
Frank, Yes, God (His name is "I Am) speaks to his children if they listen. He has spoken to me many times like you, if you are a dad, would talk to one of your children that you love. Frank, you have spoken harshly and wrongly of God but even so he loves you and would like to adopt you into His family, if you will let Him, and call you His son.
Dean