Random Politics & Religion #00

The Federal Reserve on Friday said it had paid a record $98.7 billion in profits to the Treasury in 2014, most of it earned from its stimulus for the US economy.

Under Fed policy, its 12 regional banks must pay to the federal government what is left of earnings after certain items, such as operating expenses and dividend payments, are deducted.

Last year's payment widely eclipsed the central bank's previous record of $88.4 billion in 2012.

The Federal Reserve banking system had net income of roughly $101.5 billion in 2014, according to preliminary estimates, the Fed said.

Most of the income came from $115.9 billion in interest generated by financial assets it held, including Treasury bonds and mortgage-backed securities.

The $98.7 billion sent to the Treasury last year was twice as much as the Fed paid in 2008. The collapse of Lehman Brothers in September that year triggered the financial crisis that spurred the Fed into a bond-purchase program, or quantitative easing (QE), two months later, pumping cash into the stricken economy.

The Fed's asset purchases, part of its strategy to fight the 2008-2009 financial crisis and recession, have swollen its balance sheet to some $4.5 trillion in assets, compared with $900 billion before the crisis.

After six years and three separate rounds of QE, the Fed ended its bond purchases in October.

President Barack Obama promoted a proposal to offer two years of free community college tuition to students on Friday but the plan and its $60 billion pricetag over 10 years immediately faced skepticism from Republican lawmakers.

Obama floated the education idea on the third and final day of a tour to promote agenda items being prepared for his Jan. 20 State of the Union address, a speech that will be his first to the U.S. Congress since Republicans won the Senate in November elections.

Obama has maintained a sunny mood throughout the tour, promoting the prospect of bipartisan harmony and declining to attack Republicans, in what amounts to an early attempt to try find political harmony in Washington.

Obama announced on Thursday that he would like to make two years of college free in a social media post that went viral. But White House officials had not disclosed the projected costs of the plan until Friday.

The $60 billion price tag also became a hot topic on Twitter, with Republicans lambasting the White House for calling the program "free."

"Does President Obama's #FreeCommunityCollege include an accounting class? Or macroeconomics? Or even simple arithmetic?" Caleb Smith, a social media strategist for Republican Speaker John Boehner, asked in a post on Twitter.

Obama elaborated on the plan on Friday during a visit to Tennessee, where the Republican-led state has started a free community college program.

The idea would require students to maintain a 2.5 grade point average and make progress to complete their program. Not all college programs would qualify.

The plan would need Republicans, who control Congress, to buy in, and also would require state governments to pick up 25 percent of the tab.

"With this Congress, what are the odds?" said Peter Capelli, a management professor at the University of Pennsylvania's Wharton business school.

Obama brought with him to Tennessee two senators from the state, Republicans Lamar Alexander and Bob Corker, who both praised the Tennessee program that was an inspiration for the White House effort, but said they do not think a big federal program is the best way to extend community college to more students.

Corker said he said he favored state and local efforts. “You’re always better off letting states mimic each other," he said.

The Democratic National Committee used the announcement to highlight how potential Republican candidates for the 2016 presidential race have contributed to college funding cuts.

But even if Republicans signed on, the plan raises a host of practical problems for cash-strapped community colleges, Capelli said.

"It sounds like such a good idea until you ponder a little longer," he said, explaining that many colleges already have long wait lists and lack funding to expand programs to more students armed with tuition.

Tony Blair has been a controversial figure for more than a decade. His hand in the Iraq war has brought him enemies and now the House of Lords have been told the former Prime Minister could face war crimes charges. The comments came from Lord Dykes who was discussing the delay of the Chilcot inquiry, in to Britain’s invasion of Iraq.

Lord Dykes said the fact the public haven’t been able to read the conclusions of the Chilcot inquiry was a disgrace. The inquiry set up by Gordon Brown in 2009 aimed to draw a line under the war, but it seems to have just posed more questions.

It is thought the report will criticize Tony Blair for his role in the Iraq war that has seen the deaths of an estimated 500,000 people since its start in 2003. Critics, including political figures have called the delay a scandal, but some are saying the government shouldn’t be the ones deciding when to release it.

It seems Tony Blair is set for a few more sleepless nights

yet there still sending the wrong people to jail and not abolishing this corrupt banking institute. Wake up America they expect everyone of us as citizens to pay this debt on our shoulders that we did not want. This is a Odious Debt incurred by crooks. Thank you chaosx for posting more evidence to abolish such banking practice.

" money that never existed and we got to pay it, now that is a joke that is true with every word typed in to it"

After six years and three separate rounds of QE, the Fed ended its bond purchases in October.

About damn time!

All they did is close, refurbish old bases, open, then close them down again. Wash rinse repeat Heidelberg, Wiesbaden, Kastel, etc.

EDIT: I think they built a US base "mega" mall in Heidelberg then closed it down in two years, IIRC.

yet there still sending the wrong people to jail and not abolishing this corrupt banking institute. Wake up America they expect everyone of us as citizens to pay this debt on our shoulders that we did not want. This is a Odious Debt incurred by crooks. Thank you chaosx for posting more evidence to abolish such banking practice.

" money that never existed and we got to pay it, now that is a joke that is true with every word typed in to it"

Now, if they were to slowly (and I mean very slowly) sell those bonds back to the market, or just let them expire, then there wouldn't be a bond crisis to occur, and artificial inflation to happen.

Will that actually happen is the real question. I think just letting them expire would be a better option. However, that method seems like a little scam-ish.

I notice how they don't actually mention what war crimes he allegedly committed.

I notice how they don't actually mention what war crimes he allegedly committed.

Tony Blair has denied that he is to blame for the delays in the publication of the Chilcot report. However, along with Jack Straw, then foreign secretary, MI6, and government law officers, the former Labour prime minister almost certainly faces criticism in draft passages of the report he has been shown. Under the so-called “Maxwellisation” process, they are entitled to respond to any proposed criticism of their conduct.

Will that actually happen is the real question. I think just letting them expire would be a better option. However, that method seems like a little scam-ish.

Also massive printing of currency which dictates Markets effectively inflating prices which further devalues a nations currency these central banks artificially deflate by contracting the damage they been doing crashing markets.

Clearly we do not need more quantitative easing of unconventional monetary policy's used by a central bank to stimulate an economy when standard monetary policy has become ineffective. The reason our standard money has become almost ineffective is due to 102 years of unregulated banking with a blank check. Also massive printing of currency which dictates Markets effectively inflating prices which further devalues a nations currency. These central banks artificially deflate by contracting the damage they been doing crashing markets . This is not a real free market we have here in the U.S that shows honest market values. It favors the too big to fail and any losses are dumped straight onto the american citizens backs. When what should really happen is those companies should go under for being too reckless so new ones can come in and not follow what the old company did. What we direly need is Limited government that breaks up these huge controlling monopolies of industries buying up all there competition. We do not see that anymore from regulators that brings more competition to our markets by breaking up huge corporations. This is needed very badly it would create more jobs in the long run with more companies not just a few running everything.

By expire do you mean maturity date?

Also massive printing of currency which dictates Markets effectively inflating prices which further devalues a nations currency these central banks artificially deflate by contracting the damage they been doing crashing markets.

Make up your mind?

standard monetary policy has become ineffective.

The reason our standard money has become almost ineffective is due to 102 years of unregulated banking with a blank check.

Also massive printing of currency which dictates Markets effectively inflating prices which further devalues a nations currency these central banks artificially deflate by contracting the damage they been doing crashing markets.

This is not a real free market we have here in the U.S that shows honest market values.

It favors the too big to fail and any losses are dumped straight onto the american citizens backs.

What we direly need is Limited government that breaks up these huge controlling monopolies of industries buying up all there competition.

We do not see that anymore from regulators that brings more competition to our markets by breaking up huge corporations. This is needed very badly it would create more jobs in the long run with more companies not just a few running everything.

Yeah, I was just using KN's wording.
EDIT: expire in his context meant not selling them back to market in time (before they mature).

Oh ***.

Have you looked at USD trends?

Currency value is based on perception of investors for the country involved: including credit rating, GDP, political landscape, ability to pay on debt, and a variety of other variables including how the rest of the world is currently perceived.

By expire do you mean maturity date?

Yes Kara i have and i realize your not from the United States so forgive me when i say yes i do know the U.S dollars trend. When we first had coin to use as money in our nation 1 dollar back then was worth about 24 dollars of today's purchasing power. We could buy a lot more with our money back then it went further. That shows you how much central banking has devalued our nations currency.

Yes Kara i have and i realize your not from the United States so forgive me when i say yes i do know the U.S dollars trend. When we first had coin to use as money in our nation 1 dollar back then was worth about 24 dollars of today's purchasing power. We could buy a lot more with our money back then it went further. That shows you how much central banking has devalued our nations currency.

Explain, with reasoning and sources to back up your reasoning. And remember, in this thread, you can't get people topic banned for proving you wrong.

Also, youtube videos are not creditable sources. And if you are going to use history, make sure you get it right this time.

Wait, let me get this straight. You are blaming the banking system....for having....unregulated banking???

Apparently you are unfamiliar with Article 1, Section 8 of the US Constitution. Which gives the US government power to regulate banks, since the inception of the US government.

So basically, there is no such thing as unregulated banking, as it has never existed before.

If printing money is all that goes into inflation, you may have a point. However, you are missing 99% of the other factors that goes into inflation, mainly production, supply/demand, and globalization....

Technically, we have never had a "real" free market in a very long time. Pretty much since 1932. Can you guess what law was passed in 1932 that destroyed "real" free market?

No it doesn't. If you are going to make a bold statement like this, you better provide evidence to back it up.

And like I said before, youtube videos are not evidence.

By having the government control these companies instead? How is that going to help at all?

There isn't really a monopoly out there, but are regional areas where choices are limited due to state regulations and market share. You can't really break these apart as there aren't any companies willing to provide a service to a specific state's residences. Are you going to force companies to provide services they don't want to be a part of?


When large corporations run more than half of the workforce, you may have a point.

But when small to medium sized employers hire and employ more employees than large corporations, then your point is moot.

Unless, that is, you want to consider a large company as a company who has 500+ employees in it. Which most definitions would classify that as a medium sized business.....