Follow us @ twitter.com twitter.com Welcome to Capital Account. Ben Bernanke was back on the hill today, in his second day of testimony before members of Congress for his Semi-Annual Report. He has slowly started to change his tune over the course of recent appearances. It seems as if the same man who claimed, with incredible hubris, that the Fed could drop money from helicopters if necessary in order to reliquify and reignite the economy is now openly stating that there are limits to what monetary policy can achieve. In fact, he said that too much QE via treasury and agency security purchases could actually hurt the market. When confronted about the Fed’s handling of monetary policy and Ron Paul’s Audit the Fed bill, Bernanke said it would be his “nightmare scenario” if politicians had the power to overturn or second-guess monetary policy. So what should we make of this? Has Bernanke been humbled by reality, or is he just holding his best hand for last? According to our guest, Lew Rockwell, the Monetary Control Act of 1980 gives the Fed the authority to buy more than just Treasuries and Agency debt. We speak with Mr. Rockwell for his take during the show. Also, previously undisclosed letters from Peregrine Financial Group’s CEO have come out. According to the Wall Street Journal, the CEO described deceiving regulators as “relatively simple,” which allowed him to embezzle customer money undetected for two decades. He also called regulators mean-spirited. We talk to Lew …Video Rating: 4 / 5
Follow us @ twitter.com twitter.com Welcome to Capital Account. Republican presidential candidate Mitt Romney raised eyebrows yesterday when he said he would “not get rid of all of healthcare reform.” Romney’s statement made headline news because it differed from his previous rhetoric of “repealing ObamaCare.” We would rather hear politicians explain the real reasons for why a trip to the ER for a headache can amount to a bill of 000. Could it be that healthcare isn’t actually that expensive? Over the years healthcare costs in the US have increased from 5% of GDP in the 60s to 17.4% in 2009, according to an OECD report published in 2011. A recent report from the Institute of Medicine calculated systemic waste in the US healthcare system at 5 billion, representing 30% of total expenditures. We ask Doctor Keith Smith, Managing Partner and Medical Director for the Surgery Center of Oklahoma, about the role of insurance companies, wasteful administration costs, and hospital inefficiencies. Keith Smith runs an independent surgical clinic and brings free market competitive prices to surgery. He offers customers lower prices and patients fly in from all over the world, even from countries with universal healthcare systems, to get surgery at his center. And in today’s “Loose Change,” Lauren and Demetri discuss former Reagan Budget Director, David Stockman, recent appearance on CNBC. Specifically, Stockman’s comment that “Ron Paul is the only one who is right about the Fed … Lew Rockwell Pins the Tail on Ben Bernanke and the Rest of Washington"s Donkeys!
Follow us @ twitter.com twitter.com Welcome to Capital Account. Republican presidential candidate Mitt Romney raised eyebrows yesterday when he said he would “not get rid of all of healthcare reform.” Romney’s statement made headline news because it differed from his previous rhetoric of “repealing ObamaCare.” We would rather hear politicians explain the real reasons for why a trip to the ER for a headache can amount to a bill of 000. Could it be that healthcare isn’t actually that expensive? Over the years healthcare costs in the US have increased from 5% of GDP in the 60s to 17.4% in 2009, according to an OECD report published in 2011. A recent report from the Institute of Medicine calculated systemic waste in the US healthcare system at 5 billion, representing 30% of total expenditures. We ask Doctor Keith Smith, Managing Partner and Medical Director for the Surgery Center of Oklahoma, about the role of insurance companies, wasteful administration costs, and hospital inefficiencies. Keith Smith runs an independent surgical clinic and brings free market competitive prices to surgery. He offers customers lower prices and patients fly in from all over the world, even from countries with universal healthcare systems, to get surgery at his center. And in today’s “Loose Change,” Lauren and Demetri discuss former Reagan Budget Director, David Stockman, recent appearance on CNBC. Specifically, Stockman’s comment that “Ron Paul is the only one who is right about the Fed …
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