• Try as It Might, Ballistic Missile Defense Won't Solve the United States' North Korea Problem

    Try as It Might, Ballistic Missile Defense Won’t Solve the United States’ North Korea Problem

    While North Korea has not yet tested an intercontinental ballistic missile (ICBM), the pace of  missile testing under Kim Jong-un indicates steady progress. Yet the continental United States has missile defense systems in place, so there’s nothing for Americans on the mainland to worry about, right?

    Well, not quite. The only system capable of defending the United States from an ICBM attack is the Ground-Based Midcourse Defense (GMD) system, which was successfully tested Tuesday. The test, featuring a new and improved kill vehicle, was the first intercept test since 2014 and the first one involving a target missile that simulated an ICBM. READ MORE...

  • How Bank Regulations Hinder the U.S. Recovery

    How Bank Regulations Hinder the U.S. Recovery

    Money matters — it’s one of Milton Friedman’s maxims. Since the Northern Rock bank run of 2007 — the “opening shot” of the financial crisis — the money supply, broadly measured, in the United States, Great Britain, and the Eurozone has taken a beating.

    The inconvenient truth is that the overall money supply in the U.S., broadly measured, is still, on balance, somewhat tight to neutral — thanks in large part to ill-timed bank capital hikes.

    In the United States, money supply growth has rebounded somewhat. This is a positive sign, because the quantity of money and nominal gross domestic product (GDP), as well as related measures of aggregate demand, are all closely related. Indeed, if broad money growth is robust, the nominal GDP, which is composed of real and inflation components, will be robust and vice versa. READ MORE...

  • Restoring Justice to all in Tennessee

    Restoring Justice to all in Tennessee

    The U.S. Supreme Court has ruled that every state must provide counsel for criminal defendants who can’t afford one.

    At first, the ruling was widely celebrated as a victory for the poor, but the right to adequate legal representation has been severely undermined by overcrowded court systems.

    Imagine an injured person arriving at a hospital only to wait hours to see a busy doctor with inadequate supplies of the necessary medicine.

    This has been a concern for State Supreme Court Justice Sharon Lee, who decided that the state “can’t keep doing the same thing and hoping for a different result.” READ MORE...

  • If Europe Really Worried about Russia, It Would Get Serious about Defense Spending

    If Europe Really Worried about Russia, It Would Get Serious about Defense Spending

    NATO leaders got acquainted with President Donald Trump this week. One can only imagine what they thought of the Donald. Their main objective was to reinforce the efforts of his aides to turn him into a traditional American cheerleader for European dependence.

    For those seeking to revive an alliance created almost seventy years ago, in a vastly different time, Russia has resumed its role as the “necessary” enemy. The organization faded in relevance—indeed, lost its raison d’être—but recently reasserted its role as Europe’s guardian. Lt. Gen. Ben Hodges said the United States was returning troops to the continent as part of the “transition from assurance to deterrence.” Their “mission is to deter Russia,” he added. READ MORE...

  • Fed Must Stop Rewarding Banks for Not Lending

    Fed Must Stop Rewarding Banks for Not Lending

    Federal Reserve officials are beginning to call for shrinking the central bank’s bloated balance sheet. That’s good news. Doing so reduces taxpayer risk, and undoes the Fed’s massive allocation of credit to its preferred sectors, government and housing. This will close a chapter on one of the most controversial periods in the Fed’s history. The bad news: If the Fed doesn’t simultaneously stop paying banks to hoard money, the Fed will create the next recession.

    During the financial crisis, the Fed put its traditional tools of monetary control on ice, and switched to experimental ones. One of those new tools, paying interest on excess reserves, started in October 2008. It encouraged banks to park money at the Fed instead of lending to businesses and households. READ MORE...

  • The Savage Nation Podcast ✔ Michael Savage ✔ May 29th, 2017 (FULL SHOW)

    The Savage Nation Podcast ✔ Michael Savage ✔ May 29th, 2017 (FULL SHOW)
    Thank For Listening And Like Video And Subscribe Now
    michael savage ✔ the savage nation 5/29/2017


  • It's Time for the Bloated Fed to Go on a Diet

    It’s Time for the Bloated Fed to Go on a Diet

    Ever since late 2009, when it began the rounds of Treasury and mortgage-backed security purchases that eventually caused its balance sheet to balloon from less than $1 trillion to about $4.5 trillion, the Fed has been promising to slim down again. The faster it does so, the better, because that fat balance sheet means the credit that could be supporting more robust economic growth is instead being shunted into the U.S. Treasury and the housing market.

    Yet despite hopes that Wednesday’s FOMC minutes would at last divulge a definite plan for shrinking the Fed’s balance sheet, those minutes added little to the now-standard line that the Fed wouldn’t start shrinking “until normalization of the level of the federal funds rate was well under way.” READ MORE...

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