$3.39T Quantitative Explosion: Fed Owns More Treasuries and MBSs Than Publicly Held Debt Amassed From Washington Through Clinton

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Photo Credit: AP

Photo Credit: AP

The same day that the Federal Reserve’s Federal Open Market Committee announced last week that the Fed would continue to buy $40 billion in mortgage-backed securities (MBSs) and $45 billion in U.S. Treasury securities per month, the Fed also released its latest weekly accounting sheet indicating that it had already accumulated more Treasuries and MBSs than the total value of the publicly held U.S. government debt amassed by all U.S. presidents from George Washington though Bill Clinton.

Since the beginning of September 2008, in fact, the Fed’s ownership of Treasury securities and MBSs has increased seven fold.

As of the close of business Thursday, the Fed said, it owned approximately $2,052,055,000,000 in U.S. Treasury securities and approximately $1,339,771,000,000 in mortgage-backed securities—for a combined total of about $3,391,826,000,000 in Treasury securities and MBSs.

The U.S. Treasury divides the U.S. government debt into two parts: debt held by the public, which includes publicly traded Treasury securities such as Treasury bills, notes and bonds, and intra-governmental debt, which is money the Treasury has borrowed out of the Social Security trust fund and other government trust funds and then used to pay current expenses.

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How John Boehner and Mitch McConnell are Funding Obamacare

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Photo Credit: RedState

Photo Credit: RedState

Don’t be fooled by this political theater going on in Washington, DC. The fix is in and both sides are trying to fund ObamaCare while saving face.

The whole of House Republican Leadership thinks you are stupid. They have passed a bill that they know will be changed by Harry Reid before it goes back to the House in a few days. The smoking gun will happen when Boehner allows a Senate passed government funding measure to come up in the House minus the provision defunding ObamaCare. You wait and see.

Also, know that Senate Republican Leader Mitch McConnell is in on this too. He is going to stand with Senators Ted Cruz (R-Texas) and Mike Lee (R-Utah) to save his Senate seat, but he knows that he has the power to stop this scheme.

Here is how both Republican and Democrats in leadership are trying to fool you. The House passed a Continuing Resolution, a measure to fund the government for two and one half months, with two things attached. A measure to defund ObamaCare and another to reorder the debt payment priorities of the United States government to allow the federal government to operate if the debt limit forbids anymore federal borrowing. These amendments were grouped in a way making it very easy for the Senate to delete this provision. And that was by design.

After the House passed the resolution, they had a big fake rally to make believe they were happy that they were funding the government while defunding ObamaCare. Yet Republicans in the House think we are stupid. Representatives like Peter King (R-NY) and Tom Cole (R-Oklahoma) either went on TV or yelled at Tea Party minded constituents to tell them why the House could not pass a budget bill that defunds ObamaCare, yet they did it. These moderates only supported the House effort because they knew it was without teeth and an effort to make believe they are fighting ObamaCare.

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California’s Great Gun Grab: State’s Sweeping Gun Control Bills Target Firearms, Ammo — and Hunting

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Photo Credit: AP

Photo Credit: AP

Breaking new ground in the state-level battle over firearms, the Democratic-dominated California state legislature has taken gun control into uncharted territory with a flurry of new bills that target not just firearms and ammunition, but also recreational hunting.

Among the dozen gun-control bills sitting on California Gov. Jerry Brown’s desk are measures that would outlaw lead ammunition for hunting as well as common types of hunting rifles under the umbrella of an assault-weapons ban. Taken together, the measures go far beyond the efforts that have inspired a sharp backlash and political battles in states such as Connecticut and Colorado.

To put the lead bill in context, about 95 percent of all ammunition sold in California contains lead. The alternative is metal bullets, some of which can pierce police armor and are banned by the Bureau of Alcohol, Tobacco and Firearms. Critics say the bill would effectively end hunting as a sport in California.

“If California outlaws lead bullets, the federal government already outlaws everything else, so there’s nothing left for hunters to use,” said California Assemblyman Brian Jones, a Republican from Santee. “It basically outlaws hunting.”

Mr. Brown has yet to say whether he will sign any or all of the gun bills, but the effort has already sparked a backlash against the Democratic-sponsored bills by one of the party’s chief constituencies: labor unions. A half-dozen California labor leaders have formed a coalition urging the governor to veto Assembly Bill 711, the lead-ammunition ban, citing the loss of manufacturing and supply-chain jobs as well as recreational opportunities.

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Another Alaska U.S. Senate Race, Another Attack on Free Speech

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Photo Credit: aflcio

Photo Credit: aflcio

For the second U.S. Senate election in a row, the incumbent campaign is threatening Alaska television stations over political ads it doesn’t like.

In 2010 while fighting for her political life after losing the Republican primary to Joe Miller, Sen. Lisa Murkowski had her legal counsel send letters to Alaska television stations warning them that they were putting their Federal Communications Commission licenses at risk by running ads against her that were paid for by the Tea Party Express.

Murkowski’s counsel claimed the ads constituted “false advertising” and the stations could lose their FCC license by continuing to run them. Of course, Murkowski’s lawyers knew (or should know) full well that as a public figure, her chance of proving slander or libel were virtually nil and the stations were in no danger of losing their broadcast licenses.

But that didn’t stop them from trying to put the arm on Alaska media stations — “nice FCC license you have there, be a shame if something happened to it” — and thankfully no one pulled the ads based on the Murkowski campaign threats…

So here we are again almost three years to the day later, and Sen. Mark Begich had his lawyers at Perkins Coie in Washington, D.C., fire off a letter to Alaska TV stations Sept. 5 demanding they “immediately” stop running ads sponsored by the American Energy Alliance accusing Begich of wanting you to believe “a carbon tax is a good idea.”

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Oregon State Geologist Warns Residents that Massive Earthquake is Overdue

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Photo Credit: DBerry2006

Photo Credit: DBerry2006

Sitting on a major fault line, Oregon is “like an eight-and-a-half-month pregnancy, due any time now” for a major earthquake, a geologist with the Oregon Office of Emergency Management told an overflow crowd Friday in Medford…

[The geologist] said there’s a 37 percent chance the Big One will happen in the next 50 years…

A big quake will cause liquefaction, in which the ground, if saturated with water, will “turn to pudding,” causing hardware, such as sewer systems, septic lines and gas tanks, to rise up out of the earth…

Electrical power would be down from one to three months until transformers and the electrical grid get going again, she says…

Partial quakes happen on an average of every 240 years. The last one was in 1700, so it’s been 213 years. Quakes of the entire length of the zone come every 500 to 600 years and governments should expect those to be 9.0 or more on the Richter scale — tremendously devastating.

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The Climate-Change Circus

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picture - Earth - climate changeFor the first time, an assessment report of the Intergovernmental Panel on Climate Change (IPCC) will be widely judged more for what it says about the IPCC than for what it says about the climate. Its 2007 predecessor bombed during the 2009 Copenhagen climate conference as a number of errors came to light. “The mistakes all appear to have gone in the direction of making it seem like climate change is more serious by overstating the impact,” Bob Watson, a former IPCC chairman, conceded. “That is worrying.”

The IPCC fifth assessment report is being published in the run-up to the Paris climate conference in 2015, when the governments of the world are meant to do what they signally failed to do at Copenhagen: agree. Advertised as summaries of scientific knowledge, IPCC reports — note that the “I” stands for “intergovernmental” — are subject to review by governments and by scientists, many of them employed by governments, making the reports politico-scientific documents.

Their function is to serve as canonical texts for global-warming orthodoxy, providing an updated climate-change catechism for its followers. Writing in the Times of London last week, the current chief scientific adviser to the British government and his three predecessors stated that the IPCC will present “even greater confidence” that the climate is warming as a result of human activities. Only, as the rest of the world knows, observed temperatures haven’t risen for at least a decade and a half.

Climate scientist Judith Curry of Georgia Tech has described the IPCC’s position as “incomprehensible.” The IPCC has increased its confidence in attributing the cause of global warming to greenhouse gases when there has been less warming and more greenhouse gases.

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Pope Attacks Global Economics for Worshipping ‘God of Money’

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Photo Credit: Reuters

Photo Credit: Reuters

Pope Francis made one of his strongest attacks on the global economic system on Sunday, saying it could no longer be based on a “god called money” and urged the unemployed to fight for work.

Francis, at the start of a day-long trip to the Sardinian capital, Cagliari, put aside his prepared text at a meeting with unemployed workers, including miners in hard hats who told him of their situation, and improvised for nearly 20 minutes.

“I find suffering here … It weakens you and robs you of hope,” he said. “Excuse me if I use strong words, but where there is no work there is no dignity.”

He discarded his prepared speech after listening to Francesco Mattana, a 45-year-old married father of three who lost his job with an alternative energy company four years ago.

Mattana, his voice trembling, told the pope that unemployment “oppresses you and wears you out to the depths of your soul”.

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Fear Memories Can Be Overcome During Sleep, Researchers Say

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Photo Credit: Xu Liu and Steve Ramirez

Photo Credit: Xu Liu and Steve Ramirez

It can take only an instant for fear to take hold in the brain: a fear of snakes after being bitten by one, or anxiety around bodies of water after witnessing a drowning.

Overcoming that fear can take a long time, but now researchers are saying it can be done in your sleep. Scientists at Northwestern University say they have lowered levels of fear in people by using certain odors to trigger and rechannel frightening memories into harmless ones during a deep slumber.

“Sleep sort of stamps memories in more strongly,” said neurologist Jay Gottfried, senior author of the study, which was scheduled to be published online Sunday by the journal Nature Neuroscience. “That’s when a lot of memory formation can take place.”

The researchers first created a fear of a certain face in their subjects by using conditioning — making them link a face and an odor in their minds with a painful electric shock. After some trials, the participants became afraid of the face, and the smell acted as a cue associated with that face.

The researchers then used the smell to trigger fear memories during sleep as a way to enable patients to adjust without the stress of conscious terror.

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‘Brain Dead’ Might Not Actually Mean Brain Dead, Study Says

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Photo Credit: Opposing Views

Photo Credit: Opposing Views

A new study from the Universite de Montreal found that parts of the brain may still be active after flat lining on an electroencephalogram (EEG), leading experts to debate the criteria for declaring a patient “brain dead.”

Researchers put 26 cats under deep anesthesia and monitored brain activity in the cortical region of the brain and the hippocampus. They found that every single cat had a “ripple event” of brain activity in their hippocampus after the EEG flat lined, the Los Angeles Times reported.

“Flat line was the deepest known form of coma,” said study researcher Florin Amzica, according to Discovery.

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School Ices Girl’s Broken Arm with Ice Cream Sandwiches (+video)

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Photo Credit: Fox

Photo Credit: Fox

Shatia Hill says her 7-year-old daughter, Brianna, broke her arm while playing on the playground at Webber Media Arts Academy in Pontiac.

“I was trying to jump to the bar on the monkey bars but I slipped and fell and broke my arm,” Brianna tells Fox 2’s Andrea Isom. She was helped to the office but, instead of calling 911, school staff members began calling the numbers of Brianna’s emergency contact list.

Shatia shares her frustration with Isom. “They should have immediately called 911. What if she was going into shock? What if she could have had a concussion? Brain damage could have been done and they’re just sitting there, calling people on the phone.”

Fox 2 News Headlines

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