Archive for June 16th, 2014

The Pronk Pops Show 280, June 16, 2014, Story 1: National Deficit To Exceed $18 Trillion by Sept. 30, 2014 With Deficits of Over $600 Billion in Fiscal Year 2014 — The Great Deformation Bubble Bursting — Wall Street Fueled By Fed Monetary Policy — The Giant Crash is Near — Repent — Get Out Now — Videos

Posted on June 16, 2014. Filed under: American History, Banking System, Blogroll, Budgetary Policy, Communications, Constitutional Law, Employment, Federal Government, Foreign Policy, Government, Government Spending, History, Illegal Immigration, Immigration, Investments, Law, Monetary Policy, Photos, Politics, Public Sector Unions, Regulation, Success, Tax Policy, Terrorism, Unemployment, Unions, United States Constitution, Videos, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 280: June 16, 2014

Pronk Pops Show 279: June 13, 2014

Pronk Pops Show 278: June 12, 2014

Pronk Pops Show 277: June 11, 2014

Pronk Pops Show 276: June 10, 2014

Pronk Pops Show 275: June 9, 2014

Pronk Pops Show 274: June 6, 2014

Pronk Pops Show 273: June 5, 2014

Pronk Pops Show 272: June 4, 2014

Pronk Pops Show 271: June 2, 2014

Pronk Pops Show 270: May 30, 2014 

Pronk Pops Show 269: May 29, 2014

Pronk Pops Show 268: May 28, 2014

Pronk Pops Show 267: May 27, 2014

Pronk Pops Show 266: May 23, 2014

Pronk Pops Show 265: May 22, 2014

Pronk Pops Show 264: May 21, 2014

Pronk Pops Show 263: May 20, 2014

Pronk Pops Show 262: May 16, 2014

Pronk Pops Show 261: May 15, 2014

Pronk Pops Show 260: May 14, 2014

Pronk Pops Show 259: May 13, 2014

Pronk Pops Show 258: May 9, 2014

Pronk Pops Show 257: May 8, 2014

Pronk Pops Show 256: May 5, 2014

Pronk Pops Show 255: May 2, 2014

Pronk Pops Show 254: May 1, 2014

Pronk Pops Show 253: April 30, 2014

Pronk Pops Show 252: April 29, 2014

Pronk Pops Show 251: April 28, 2014

Pronk Pops Show 250: April 25, 2014

Pronk Pops Show 249: April 24, 2014

Pronk Pops Show 248: April 22, 2014

Pronk Pops Show 247: April 21, 2014

Pronk Pops Show 246: April 17, 2014

Pronk Pops Show 245: April 16, 2014

Pronk Pops Show 244: April 15, 2014

Pronk Pops Show 243: April 14, 2014

Pronk Pops Show 242: April 11, 2014

Pronk Pops Show 241: April 10, 2014

Pronk Pops Show 240: April 9, 2014

Pronk Pops Show 239: April 8, 2014

Pronk Pops Show 238: April 7, 2014

Pronk Pops Show 237: April 4, 2014

Pronk Pops Show 236: April 3, 2014

Pronk Pops Show 235: March 31, 2014

Pronk Pops Show 234: March 28, 2014

Pronk Pops Show 233: March 27, 2014

Pronk Pops Show 232: March 26, 2014

Pronk Pops Show 231: March 25, 2014

Pronk Pops Show 230: March 24, 2014

Pronk Pops Show 229: March 21, 2014

Pronk Pops Show 228: March 20, 2014

Pronk Pops Show 227: March 19, 2014

Pronk Pops Show 226: March 18, 2014

Pronk Pops Show 225: March 17, 2014

Pronk Pops Show 224: March 7, 2014

Pronk Pops Show 223: March 6, 2014

Pronk Pops Show 222: March 3, 2014

Story 1: National Deficit To Exceed $18 Trillion by Sept. 30, 2014 With Deficits of Over $600 Billion in Fiscal Year 2014 — The Great Deformation Bubble Bursting — Wall Street Rallly Fueled By Fed Monetary Policy — The Giant Crash is Near — Repent — Get Out Now While You Can! — Videos

david_stockman

6397

the_great_deformation

“The Great Deformation: The Corruption of Capitalism in America” (David Stockman)

The Great Deformation: Is an Even Worse Financial Bubble Just Around the Corner?

 

David Stockman on Wall Street, The Federal Reserve, and The Great Deformation

How Crony Capitalism Corrupts the Free Market | David Stockman

The Real Fiscal Cliff: How to Spot the Ledge | Peter Schiff

David Stockman, The Great Deformation

David Stockman: The Great Deformation – May 29, 2013

Is the Fed a Perpetual Bubble-Maker? David Stockman Discusses

America’s Debt Crisis Explained

U.S. National Debt and Tax Policies: The Future of American Fiscal Policy (2013)

Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement. Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014. In the month of May alone, the federal government ran a deficit of $129.971 billion–bringing in $199.889 billion in revenue while spending $329.860 billion. The White House Office of Management and Budget has estimated that in the full fiscal 2014, the federal government will collect $3.001721 trillion in taxes, spend $3.650526 trillion, running a deficit of $648.805 billion.

Record Federal Tax Revenues Through May FY 2014

The OMB has also estimated that, while running that deficit, the federal government will collect a record amount in inflation-adjusted tax revenues. When adjusted for inflation (to constant 2014 dollars), the second-greatest federal tax haul through May was in fiscal 2007. By the end of May that year, the federal government took in approximately 1.908 trillion in total receipts in constant 2014 dollars. The single largest source for the federal government’s record tax receipts in the first eight months of FY 2014 was the individual income tax, which brought the Treasury $903.024 trillion. The second largest source was what the Treasury calls “Social Insurance and Retirement Receipts,” which includes the Social Security payroll tax, the unemployment insurance tax and other retirement taxes. This accounted for $694.268 billion in tax revenue. The third largest source of federal revenue in the first eight months of fiscal 2014 was the corporation income tax, which brought in $164.840 billion. As CNSNews.com has previously reported, federal tax revenues for fiscal 2014 set records through Februarythrough Marchthrough Tax Day, April 15, and through April. http://www.cnsnews.com/news/article/terence-p-jeffrey/federal-tax-revenues-set-record-through-may-feds-still-running-436b


BUREAU OF THE FISCAL SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  05/14

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   184,316                304,311                119,995
     NOVEMBER                                                                  161,730                333,841                172,112
     DECEMBER                                                                  269,508                270,699                  1,191
     JANUARY                                                                   272,225                269,340                 -2,886
     FEBRUARY                                                                  122,815                326,354                203,539
     MARCH                                                                     186,018                292,548                106,530
     APRIL                                                                     406,723                293,834               -112,889
     MAY                                                                       197,182                335,914                138,732
     JUNE                                                                      286,627                170,126               -116,501
     JULY                                                                      200,030                297,627                 97,597
     AUGUST                                                                    185,370                333,293                147,923
     SEPTEMBER                                                                 301,469                226,355                -75,114

       YEAR-TO-DATE                                                          2,774,011              3,454,241                680,229

   CURRENT YEAR

     OCTOBER                                                                   198,927                289,511                 90,584
     NOVEMBER                                                                  182,453                317,679                135,226
     DECEMBER                                                                  283,221                230,001                -53,220
     JANUARY                                                                   295,997                306,247                 10,250
     FEBRUARY                                                                  144,349                337,880                193,532
     MARCH                                                                     215,846                252,739                 36,893
     APRIL                                                                     414,237                307,383               -106,853
     MAY                                                                       199,889                329,860                129,971

       YEAR-TO-DATE                                                          1,934,919              2,371,301                436,382
-

http://fms.treas.gov/mts/mts0514.txt

assets_federal

 

assets_fedbsd-figure1-201403

Table 1. Assets, liabilities, and capital of the Federal Reserve System Billions of dollars

Item Current February 26, 2014 Change from October 30, 2013 Change from February 27, 2013
Total assets 4,160 +317 +1,069
Selected assets
Securities held outright 3,900 +329 +1,061
U.S. Treasury securities 1 2,278 +161 +529
Federal agency debt securities1 51 -8 -22
Mortgage-backed securities 2 1,570 +176 +554
Memo: Overnight securities lending 3 11 -8 -9
Memo: Net commitments to purchase mortgage-backed securities 4 47 -25 -59
Unamortized premiums on securities held outright 5 209 +4 +25
Unamortized discounts on securities held outright5 -16 -7 -14
Lending to depository institutions 6 * -* -*
Central bank liquidity swaps 7 * +* -4
Lending through the Term Asset-Backed Securities Loan Facility (TALF) 8 * -* -*
Net portfolio holdings of TALF LLC 9 * -* -*
Support for specific institutions 10 2 +* +*
Net portfolio holdings of Maiden Lane LLC10 2 +* +*
Net portfolio holdings of Maiden Lane II LLC10 * -* +*
Net portfolio holdings of Maiden Lane III LLC10 * -* -*
Foreign currency denominated assets 11 24 -* -*
Total liabilities 4,104 +316 +1,068
Selected liabilities
Federal Reserve notes in circulation 1,208 +32 +79
Reverse repurchase agreements 12 233 +118 +132
Foreign official and international accounts12 103 -6 +2
Others12 130 +125 +130
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,611 +176 +856
U.S. Treasury, general account 27 -3 +11
Other deposits 13 12 -3 -5
Total capital 56 +1 +1

 Note: Unaudited. Components may not sum to totals because of rounding.

 * Less than $500 million.

1. Face value. Return to table

2. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. Return to table

3. Securities loans under the overnight facility are off-balance-sheet transactions. These loans are shown here as a memo item to indicate the portion of securities held outright that have been lent through this program. Return to table

4. Current face value. Includes commitments associated with outright purchases, dollar rolls, and coupon swaps. Return to table

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. Return to table

6. Total of primary, secondary, and seasonal credit. Return to table

7. Dollar value of the foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. Return to table

8. Book value. Return to table

9. As of February 26, 2014, TALF LLC had purchased no assets from the Federal Reserve Bank of New York. Return to table

10. Fair value, reflecting values as of December 31, 2013. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Fair values are updated quarterly. Return to table

11. Revalued daily at current foreign currency exchange rates. Return to table

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. Return to table

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. Return to table

http://www.federalreserve.gov/monetarypolicy/bsd-overview-201403.htm

Federal-Funds-Interest-Rate

 

fredgraphDiscount-Ratesp-500-vs-federal-reserve-balance-sheet1

The Pronk Pops Show Podcasts Portfolio

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Listen To Pronk Pops Podcast or Download Show 112

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Listen To Pronk Pops Podcast or Download Shows 106-108

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