The Pronk Pops Show 993, November 1, 2017, Story 1: Update of Radical Islamic Terrorist Jihadist Attack in New York City — President Trump “Send Him To Gitmo” as Enemy Combatant and Get Rid of Chain Migration and Diversity Lottery Immigration Program and Replace With Merit Based System of Immigration — Videos — Breaking — Story 2: Trump Expected To Name Jerome Powell As Next Federal Reserve Chairman Replacing Chair Janet Yellen — A Dove or Continuation of Interventionist Easy Monetary Policy — Better Choice Was John Taylor — Taylor For Fed Chair and Powell for Vice Chair — Videos

Posted on November 1, 2017. Filed under: American History, Banking System, Blogroll, Breaking News, Budgetary Policy, Communications, Congress, Constitutional Law, Corruption, Crime, Culture, Defense Spending, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Donald Trump, Economics, Education, Elections, Empires, Federal Government, First Amendment, Fiscal Policy, Former President Barack Obama, Fourth Amendment, Government, Government Dependency, Government Spending, Health, History, Homicide, House of Representatives, Human, Human Behavior, Illegal Immigration, Illegal Immigration, Immigration, Independence, Islamic State, Killing, Labor Economics, Language, Law, Legal Immigration, Life, Lying, Media, Middle East, Monetary Policy, National Interest, News, Obama, People, Philosophy, Photos, Pistols, Politics, Raymond Thomas Pronk, Rifles, Rule of Law, Scandals, Second Amendment, Security, Senate, Spying, Spying on American People, Surveillance and Spying On American People, Surveillance/Spying, Taxation, Taxes, Terror, Terrorism, Trade Policy, Trucks, Trump Surveillance/Spying, Unemployment, United States of America, Videos, Violence, War, Wealth, Weapons of Mass Destruction, Wisdom | Tags: , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 993, November 1, 2017

Pronk Pops Show 992, October 31, 2017

Pronk Pops Show 991, October 30, 2017

Pronk Pops Show 990, October 26, 2017

Pronk Pops Show 989, October 25, 2017

Pronk Pops Show 988, October 20, 2017

Pronk Pops Show 987, October 19, 2017

Pronk Pops Show 986, October 18, 2017

Pronk Pops Show 985, October 17, 2017

Pronk Pops Show 984, October 16, 2017 

Pronk Pops Show 983, October 13, 2017

Pronk Pops Show 982, October 12, 2017

Pronk Pops Show 981, October 11, 2017

Pronk Pops Show 980, October 10, 2017

Pronk Pops Show 979, October 9, 2017

Pronk Pops Show 978, October 5, 2017

Pronk Pops Show 977, October 4, 2017

Pronk Pops Show 976, October 2, 2017

Pronk Pops Show 975, September 29, 2017

Pronk Pops Show 974, September 28, 2017

Pronk Pops Show 973, September 27, 2017

Pronk Pops Show 972, September 26, 2017

Pronk Pops Show 971, September 25, 2017

Pronk Pops Show 970, September 22, 2017

Pronk Pops Show 969, September 21, 2017

Pronk Pops Show 968, September 20, 2017

Pronk Pops Show 967, September 19, 2017

Pronk Pops Show 966, September 18, 2017

Pronk Pops Show 965, September 15, 2017

Pronk Pops Show 964, September 14, 2017

Pronk Pops Show 963, September 13, 2017

Pronk Pops Show 962, September 12, 2017

Pronk Pops Show 961, September 11, 2017

Pronk Pops Show 960, September 8, 2017

Pronk Pops Show 959, September 7, 2017

Pronk Pops Show 958, September 6, 2017

Pronk Pops Show 957, September 5, 2017

Pronk Pops Show 956, August 31, 2017

Pronk Pops Show 955, August 30, 2017

Pronk Pops Show 954, August 29, 2017

Pronk Pops Show 953, August 28, 2017

Pronk Pops Show 952, August 25, 2017

Pronk Pops Show 951, August 24, 2017

Pronk Pops Show 950, August 23, 2017

Pronk Pops Show 949, August 22, 2017

Pronk Pops Show 948, August 21, 2017

Pronk Pops Show 947, August 16, 2017

Pronk Pops Show 946, August 15, 2017

Pronk Pops Show 945, August 14, 2017

Pronk Pops Show 944, August 10, 2017

Pronk Pops Show 943, August 9, 2017

Pronk Pops Show 942, August 8, 2017

Pronk Pops Show 941, August 7, 2017

Pronk Pops Show 940, August 3, 2017

Pronk Pops Show 939, August 2, 2017

Pronk Pops Show 938, August 1, 2017

Image result for sayfullo saipov age 29 uzbekImage result for president trump send terroritst to gitmo

Image result for cartoon on federal reserve chair

Image result for cartoons trump on 20 trillion dollars national debt

Image result for cartoons trump on 20 trillion dollars national debt

Image result for cartoons trump on 20 trillion dollars national debt

Image result for cartoons trump on 20 trillion dollars national debt

Image result for cartoons trump on 20 trillion dollars national debt

Image result for cartoons trump on 20 trillion dollars national debt

Image result for fed funds rates 1950- October 2017

 

Story 1: Update of Radical Islamic Terrorist Jihadist Attack in New York City — President Trump “Send Him To Gitmo” and Get Rid of Chain Migration and Diversity Lottery Immigration and Replace With Merit Base System — Videos — 

Image result for Diversity Lottery immigration program

Image result for Diversity Lottery immigration program

Passport to terrorism – Jason Chaffetz on the NY terrorist attack – 11/1/17 – Fox & Friends

New York truck attack: Trump calls for end of green card lottery – BBC News

President Donald Trump: Starting The Process Of Terminating The Diversity Lottery Program | CNBC

Schumer to Trump: Stop dividing, politicizing

What we know about the suspect in deadly NYC attack

Suspect In NYC Terror Attack That Killed 8 Victims Shot, In Custody

President Trump’s EXPLOSIVE Response to NY Truck Attack: “Send Him to Gitmo!” 11/1/17

The Diversity VISA Program Should Be GUTTED!!” Hannity and Mark Levin Speak TRUTH on Immigration

“The Diversity Lottery is COMPLETELY INSANE!” Ann Coulter REACTS to NYC

Robert Mueller’s Witch Hunt – Mark Levin – Hannity

“Allahu Akbar!” #NYC #Terror and #Uzbek Sayfullo Saipov — Lionel on “Real News With David Knight”

We Should Televise Sayfullo Saipov Explaining Why He Killed 8 to Show America What Evil Looks Like

 

Uzbek terrorist appears shackled in court in a wheelchair after it emerges he had thousands of ISIS videos on his phone, asked to fly terror flag in his hospital room and chose Halloween because he thought more people would be on the streets

  • Sayfullo Saipov, 29, was charged Wednesday with providing material support to a terrorist group and committing violence and destruction of motor vehicles 
  • He did not enter a plea and judge ordered him to be held in federal jail 
  • Uzbek national will appear again in federal court on November 15 
  • Saipov killed eight and injured 12 by mowing down people with a rented pick-up truck on the Hudson River bike path in lower Manhattan Tuesday afternoon 
  • According to a criminal complaint, Saipov admitted that he was inspired by ISIS
  • Saipov asked federal agents to hang an ISIS flag in his hospital room and said he ‘felt good about what he had done’ 
  • Investigators found thousands of ISIS-related materials on Saipov’s computer
  • About 90 ISIS-related videos were also found on Saipov’s cell phone    
  • He was interviewed by federal agents in 2015 as a possible associate of two suspected terrorists, but a case file was never opened on him 

New details are emerging about Sayfullo Saipov (left and right) who mowed down more than a dozen innocent people on a New York City bike path on Tuesday

New details are emerging about Sayfullo Saipov (left and right) who mowed down more than a dozen innocent people on a New York City bike path on Tuesday

The Muslim immigrant from Uzbekistan accused of carrying out Tuesday’s terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York.

Sayfullo Saipov, 29, wore a gray shirt and was surrounded by five guards while in his wheelchair inside a New York federal courthouse after he was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles.

His lawyers said Wednesday they were not seeking bail and a judge ordered him to be held in federal jail.

Saipov did not enter a plea to terrorism charges and a judge set his next court date for November 15.

Authorities say the Uzbek national watched ISIS videos on his cellphone and picked Halloween for the attack on a bike lane in lower Manhattan because he knew more people would be out on the streets.

Prosecutors said in court papers that Saipov asked to display the ISIS flag in his hospital room where he was recovering from being shot in the stomach by police ending the attack.

Saipov ‘stated that he felt good about what he had done,’ according to court papers.

The 29-year-old left behind knives and a note, handwritten in Arabic, that included Islamic religious references and said ‘it will endure’ — a phrase that commonly refers to ISIS, FBI agent Amber Tyree said in court papers.

The Muslim immigrant from Uzbekistan (above in court sketches) accused of carrying on Tuesday's terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York

The Muslim immigrant from Uzbekistan (above in court sketches) accused of carrying on Tuesday’s terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York

Saipov, 29, wore a gray shirt and was surrounded by five guards while in his wheelchair inside a New York federal courthouse after he was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

His lawyers said Wednesday they were not seeking bail and a judge ordered him to be held in federal jail. Saipov did not enter a plea to terrorism charges and a judge set his next court date for November 15

Questioned in his hospital bed, Saipov said he had been inspired by ISIS videos and began plotting an attack about a year ago, deciding to use a truck about two months ago, Tyree said. Saipov even rented a truck on October 22 to practice making turns, Tyree said.

John Miller, deputy New York police commissioner for intelligence, said Saipov ‘appears to have followed, almost exactly to a T, the instructions that ISIS has put out.’ 

In the past few years, the Islamic State has exhorted followers online to use vehicles, knives or other close-at-hand means of killing people in their home countries. England, France and Germany have all seen deadly vehicle attacks since mid-2016.

A November 2016 issue of the group’s online magazine detailed features that an attack truck or van should have, suggested renting such a vehicle and recommended targeting crowded streets and outdoor gatherings, according to the SITE Intelligence Group, a militant-monitoring agency.

Saipov told authorities, according to the compliant, he chose Halloween for the attack because he thought there would be more civilians nearby.

Carlos Batista, a neighbor of Saipov’s in Paterson, New Jersey, said he had seen the suspect and two friends using the same model of rented truck several times in the past three weeks.

Overnight, FBI investigators raided Saipov's Paterson, New Jersey apartment, where he lives with his wife and three kids, the youngest of whom is three months old

Overnight, FBI investigators raided Saipov’s Paterson, New Jersey apartment, where he lives with his wife and three kids, the youngest of whom is three months old

It's unclear how long Saipov has lived at the address in New Jersey, he seemed to float between Ohio, Florida and New Jersey

A member of the media knocks on the door next to Saipov's apartment on Wednesday

An FBI investigator carries a bag of evidence away from Saipov's home on Wednesday 

An FBI investigator carries a bag of evidence away from Saipov’s home on Wednesday

Trump tweeted Wednesday night that he spoke with the president of Argentina about the five victims who died in the attack on Tuesday

Trump tweeted Wednesday night that he spoke with the president of Argentina about the five victims who died in the attack on Tuesday

He also tweeted that the US 'will be immediately implementing much tougher Extreme Vetting Procedures'

He also tweeted that the US ‘will be immediately implementing much tougher Extreme Vetting Procedures’

New York Gov. Andrew Cuomo told CNN on Wednesday that Saipov ‘radicalized domestically’ after moving to America seven years ago, where he had worked as a commercial truck driver and Uber driver.

Reports say that Saipov attended a ‘suspicious’ New Jersey mosque.

Saipov married in 2013 and has since fathered three children – the youngest of whom is three months old. Overnight, FBI agents raided the couple’s Paterson, New Jersey home.

On October 28, Saipov was spotted on the George Washington Bridge, the crossing at the far northern tip of the island between New Jersey and New York.

That same day, his EZ-pass recorded him driving through the Holland Tunnel (which also links New Jersey and New York) twice. The Holland Tunnel is located in lower Manhattan, near where Saipov started his rampage on Tuesday.

Prosecutors released the criminal complaint (above) against Saipov on Wednesday afternoon which describes the charges he's been hit with for Tuesday's deadly attack

Prosecutors released the criminal complaint (above) against Saipov on Wednesday afternoon which describes the charges he’s been hit with for Tuesday’s deadly attack

Saipov was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

Saipov was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

The documents also provide details into the background on ISIS as a foreign terrorist organization 

The documents also provide details into the background on ISIS as a foreign terrorist organization

The documents say ISIS has 'disseminated a wide variety of recruiting materials and propaganda through social media'

The suspect seemingly lived a quiet life prior to moving to the U.S.

He had spent most of his life living in a single apartment with his parents and three younger sisters in Tashkent, the capital of Uzbekistan, Radio Free Europe (RFE) reports.

Two neighbors back in Tashkent told RFE that the Saipov family were ‘very secular’ and ‘ordinary Uzbeks who don’t stand out in any particular respect’.

‘His parents are far from religion,’ one of them said, ‘They don’t even pray.’

Saipov’s father, 52-year-old Habibullo, and mother, 50-year-old Muqaddas, run a small clothing stand in their local bazaar, and are relatively well off in their country, owning their own car and home.

The complaint details the deadly attack on Tuesday afternoon in lower Manhattan and also what was found inside the rented Home Depot truck. One of those items was a  document that contained Arabic and English text

The complaint also shows a photo showing Saipov at the Home Depot in Passaic, New Jersey renting the truck used in the horrific attack

Saipov was read his Miranda Rights while in the hospital after being shot by an NYPD officer. He waived those rights and began speaking to investigators about what he admitted to doing, according to the complaint

The Uzbek national also said that he was inspired to carry out the attack by ISIS videos he had watched on his cell phone, according to the complaint

The Uzbek national also said that he was inspired to carry out the attack by ISIS videos he had watched on his cell phone, according to the complaint

Authorities say one of the cellphones found in Saipov's possession contained 90 videos of ISIS-related propaganda 

Authorities say one of the cellphones found in Saipov’s possession contained 90 videos of ISIS-related propaganda

At the age of 22, Saipov moved alone to the U.S. after winning a greencard through the Diversity Visa Lottery.

But a police source in Tashkent told RFE that Saipov lived for a time in Osh, Kyrgyzstan – a city that saw violent ethnic clashes in 1990 and 2010 – before immigrating to the U.S. (DailyMail.com learned that Saipov has close links to Osh, according to Ruslan Leviev, head of the Conflict Intelligence Team, an anti-Kremlin social media monitoring group. He has social media links to friends in the city, also the home of Akbarjon Djalilov, who bombed the St Petersburg metro last year.)

When he first moved to the U.S., acquaintances said that he did not appear to be a ‘religious person’. Several years later though, they say he became ‘aggressive’ and started expressing ‘very radical views,’ according to sources who spoke to RFE.

Since immigrating, Saipov has lived in multiple states – with addresses in Ohio, Florida and New Jersey. There’s some confusion about where Saipov lived when, and for how long, since it appears he moved around frequently.

It’s possible that Saipov, working as a trucker, split his time between the three states.

Saipov's mosque in Paterson, New Jersey has been under NYPD surveillance since 2005 (pictured above on Wednesday)

Saipov’s mosque in Paterson, New Jersey has been under NYPD surveillance since 2005 (pictured above on Wednesday)

While NBC News reported that Saipov got his commercial driver’s license in New Jersey in 2010, and later had it transferred to Florida, sources in Ohio say he lived there right after immigrating.

Dilnoza Abdusamatova, 24, told the Washington Post that Saipov stayed with her family in Cincinnati for his first two weeks in the country because their fathers were friends.

‘He always used to work,’ Dilnoza said told the Cincinnati Enquirer. ‘He wouldn’t go to parties or anything. He only used to come home and rest and leave and go back to work.’

She said that he cut off contact with them about a year later, when he got married and moved to Florida to work as a truck driver.

Records show that Saipov married fellow-Uzbek Nozima Odilova in Ohio in 2013. She was 19 years old at the time.

Pictured above is Saipov's former apartment building in Tampa, Florida. He also had an address in Fort Myers

TIMELINE OF THE MASSACRE

2:06pm

Saipov rents a truck from the Home Depot in Passaic, New Jersey.

2:43pm

Cameras on the George Washington Bridge show Saipov crossing into New York City.

3:04pm

Cameras outside the Holland Tunnel show Saipov entering the bike lane at West Street and Houston Street at a high rate of speed.

Saipov targets bicyclists and pedestrians in the south-bound lane. Eventually, crashing into a school bus at Chambers Street, where gets out and continues to terrorize bystanders.

3:08pm

Police receive more than a dozen 911 calls of a truck driver targeting bystanders in the bike lane, crashing into a school bus and getting out waiving a gun.

Two officers who were nearby at Stuyvesant High school for an unrelated call respond to the scene and notice Saipov walking around waiving a gun.

Officer Bryan Nash, a 28-year-old who has been on the force for five years, shoots Saipov in the abdomen, bringing the rampage to an end.

While Dilnoza says that Saipov started his trucking business in Florida, recrods show he actually started both of them in Ohio – going so far as to use her family’s home address for registration.

In 2011, he started Sayf Motors in Hamilton County, Ohio.

Two years later, he started another company in Cuyahoga Falls, Ohio –  Bright Auto LLC.

Bright Auto LLC is an active carrier registered with the U.S. Department of Transportation. Records show that the trucking company has one truck and one driver. The company said it could not confirm if the suspect had rented the vehicle, but they are cooperating with police.

One fellow Uzbek driver said that Saipov ran into issues working as a truck driver and was a mean-spirited person.

Mirrakhmat Muminov, 38, of Stow, Ohio, portrayed Saipov as an argumentative young man whose work was falling apart and who ‘was not happy with his life.’

Muminov said Saipov lost his insurance on his truck after his rates shot up because of a few traffic tickets, and companies stopped hiring him. Muminov said he heard from Saipov’s friends that Saipov’s truck engine blew up a few months ago in New Jersey.

He also said Saipov would get into arguments with his friends and family, tangling over even small things, such as going to a picnic with the Uzbek community.

‘He had the habit of disagreeing with everybody,’ Muminov said.

The above graphic shows how Saipov drove off the West Side Highway and onto the Hudson River bike path on Tuesday 

Kobiljon Matkarov, 37, said that he met Saipov in Florida about five years ago and they bonded over their shared Uzbek heritage.

‘He is very good guy, he is very friendly… he is like little brother… he look at me like big brother,’ he told The New York Post.

Matkarov says Saipov even invited him to his wedding in Ohio, but he couldn’t attend.

Matkarov visited New York City recently and said that Saipov drove his family to JFK airport as they were leaving.

Saipov was very friendly, he said, and good with children: ‘My kids like him too, he is always playing with them. He is playing all the time,’ he said – but added that when one of the children asked to take a photo with him, Saipov refused. ‘He no like that. He said no,’ Matkarov said.

Matkarov said he was shocked by the claim that his friend had murdered and injured more than a dozen people, and that he didn’t know of any terrorist connections he may have had.

Matkarov said he knew his friend had been working for Uber in New Jersey, a fact that the ride-sharing company has confirmed.

Uber said in a statement on Tuesday night: ‘We are horrified by this senseless of violence. Our hearts are with the victims and their families. We have reached out to law enforcement to provide our full assistance.’

The company said that he had passed a background check by the company and that they are now ‘aggressively’ reviewing his history with them, although they had not yet found any ‘concerning safety reports.’

The company added that he has been banned from the app.

People who know Saipov's parents back in Uzbekistan say the family is not religious. Saipov seen above moments after mowing down more than a dozen people on a bike path

Saipov is reportedly seen here holding his two fake guns after climbing out of the Home Depot truck. He ran about a block south of the crash before being shot. Records indicate he worked as an Uber driver and a commercial truck driver 

 
Saipov appears to have lived in both Fort Myers and Tampa, Florida. And though he had been living in New Jersey when he was arrested on Tuesday, he had a Florida driver’s license on him.

Neighbors at Saipov’s Tampa apartment complex told the Daily Beast that Saipov lived in a modest apartment with his wife, kids and an older woman who appeared to be his mother or mother in law.

They said he was often on the road for two weeks at a time because of his job. They said the family also left every summer. The last time they left, the family told neighbors that they were moving to New Jersey because Saipov’s job had been transferred.

Neighbor Melissa Matthews says the women of the household wore head scarves and were cold to her.

‘Most people you say hello to and they say hello back, but they didn’t,’ Matthews said.

But neighbor Kyong Eagan had fonder memories of Saipov.

She says that the terror suspect treated her like royalty, bringing her food, large cases of water and orange juice and household appliances his family no longer needed.

‘He always treated me like I was his mother,’ Eagan said. ‘He was kind of a nice neighbor. A real nice neighbor to have.’

Eagan said Saipov, who she described as soft-spoken, brought her home-cooked meals because he wanted her to learn about his culture.

‘I just can’t believe it at all. He was just so genuine. I’m just so shocked,’ she said.

Other Tampa neighbors said he should ‘fry’ for his killing spree.

Gloria Bailey, 71, learnt she was living in the alleged mass killer’s former apartment when the FBI knocked on her door Tuesday and a helicopter circled overhead.

‘If he did what they say he did, they need to fry him. If he took innocent lives they need to burn him. Locking him up isn’t good enough,’ she told DailyMail.com.

The grandmother of seven moved into the rented $48,000 condo 11 months ago and found the two-bedroom property clean and tidy when she arrived.

‘I’ve never seen the guy, I don’t know what was going on. I just know that he was living in my apartment previously because the management told me,’ she added.

‘All I do is go to work and go to church. But now I feel nervous, I feel scared. I know America is the land of opportunity but they need to do more screening than they do.

‘People are killing each other all over the world and they can all come here.’

Residents living at the Heritage At Tampa housing complex said they barely remembered Saipov who is believed to have lived there in 2015 when his driver’s license was registered to the address.

A statement issued by the property’s management company confirmed he was a former tenant but directed all questions to law enforcement.

Tatiana Colarte, 19, who used to walk her dog past Saipov’s former ground apartment every morning, said: ‘It’s so scary.

‘As soon as I saw a picture I recognized it was him. I can’t believe the man who carried out that act lived so close to me.’

Police probed an apartment complex address in Fort Myers, Florida on Tuesday night where terror suspect Saipov lived from 2010 to 2011.

Uniformed officers from the Fort Myers Police Department as well as unidentified plain clothed agents were seen entering a second floor condo and speaking to the current occupants, a couple with young children.

A police car was stationed outside the rented two-bed, $50,000 property on the Gulfstream Isles housing complex but law enforcement had left by Wednesday morning.

Neighbors told DailyMail.com they had no idea who Saipov was before they saw his face on the news and couldn’t remember him living there.

This is the rented Home Depot truck that plowed through cyclists and runners on the bicycle path. It only stopped when Saipov allegedly deliberately struck a schoolbus at an intersection

This is the rented Home Depot truck that plowed through cyclists and runners on the bicycle path. It only stopped when Saipov allegedly deliberately struck a schoolbus at an intersection

The side of the bus crumpled in, collapsing onto the chairs - and children - inside. Two children and two adults were hospitalized after the crash. One of the children was in critical condition

The side of the bus crumpled in, collapsing onto the chairs – and children – inside. Two children and two adults were hospitalized after the crash. One of the children was in critical condition

Shattered bicycles are seen here on the West Side Highway bike path where eight people were killed and at least 12 more injured. At least five of those who were killed had rented Citibikes before they were hit

Shattered bicycles are seen here on the West Side Highway bike path where eight people were killed and at least 12 more injured. At least five of those who were killed had rented Citibikes before they were hit

A vehicle is surrounded by a police perimeter in the parking lot of a Home Depot store in Passaic, New Jersey where authorities believe Saipov rented the truck used in the attack

A vehicle is surrounded by a police perimeter in the parking lot of a Home Depot store in Passaic, New Jersey where authorities believe Saipov rented the truck used in the attack

TERRORIST’S ACTIVITIES SINCE MOVING TO THE U.S.

March 2010: Immigrates to the U.S. from Uzbekistan. Stays with the Abdusamatov family in a Cincinnati suburb for his first two weeks.

April 2011: Gets a traffic violation in Hartford County, Maryland and lists an address in Fort Myers, Florida

May 2011: Starts Sayf Motors Inc., registering the business to the Abdumastov’s home address

April 12, 2013: Marries Nozima Odilova in Ohio

August 2012: Gets a ticket in Pennsylvania and lists a Paterson, New Jersey address

Sometime in 2012: Meets friend Kobiljon Matkarov in Florida, is allegedly living there at the time. Matkarov says Saipov lived in Fort Myers until 2014

August 2013: Starts Bright Auto LLC in Cuyahoga Falls, Ohio

March 2015: Gets ticket in Pennsylvania and gives officers a Paterson, New Jersey address

April 2016: Gets a traffic violation in Missouri and gives cops an address for Tampa, Florida

Late 2016 – Early 2017: Saipov’s mother visits him for about two months

Around April 2017: Starts working for Uber in NJ

September 2017: Saipov tells a friend that he’s thinking of moving back to Uzbekistan

In August 2012, he was pulled over in Palmyra, Pennsylvania and gave cops a Paterson, New Jersey address. He gave cops a Paterson address again in March 2015, when he was pulled over in Mount Holly Springs Borough, Pennsylvania.

The manager of Saipov’s local grocery store in Paterson, Farm Boy Super Fresh Supermarket on Getty Avenue, had a poor opinion of the man.

She claims that Saipov was an ‘erratic’ customer who berated the cashiers, the New York Post reported.

‘Every time he came here he was always erratic or arguing with the cashiers,’ the manager, who did not want to provide her name, said.

‘He would get angry very fast…. he would break the cans, dumb things,’ she said, adding that he was known for his rude behavior.

‘I feel like he was prejudiced to the cashiers – whether they were covered or not in a hijab – he would belittle them,’ she told The Post.

‘He was talking good English, proper, but he would call the cashiers dumb, uneducated – how they didn’t know how to scan the items.’

She also said that Saipov  argued often about the price of Canada Dry Ginger Ale.

‘Soda was the problem. He would come here and buy soda,’ she said. ‘He would give us a hard time on the 12-pack Canada Dry – if it was one price he would want his own price. It was always the soda, always a problem with the 12-pack of cans. Always a problem.’

One neighbor, 64-year-old Slavo Petrov, says he often sees Saipov going to mosque with his wife and kids, but he ‘never says good morning and never says good afternoon’.

Investigators work around the wreckage of the Home Depot pickup truck a day after the massacre

Investigators work around the wreckage of the Home Depot pickup truck a day after the massacre

Crime scene covered the scene, located in a usually bustling area of Manhattan 

Crime scene covered the scene, located in a usually bustling area of Manhattan

A large portion of the West Side Highway remained shut down on Wednesday so that officials could continue to investigate 

A large portion of the West Side Highway remained shut down on Wednesday so that officials could continue to investigate

It has since been revealed that Saipov’s mosque was also under surveillance by the NYPD.

According to NorthJersey.com, the NYPD has been studying the Omar Mosque in Paterson, near Saipov’s home,  as a possible location for ‘budding terrorist conspiracies’.

It doesn’t appear that criminal activity has been linked to the mosque but the report says it ‘is believed to have been the subject of federal investigations’.

ABC News also reports that Saipov was interviewed by federal agents two years ago about his alleged ties to two suspected terrorists.

Law enforcement sources told ABC that Saipov was interviewed as a potential ‘point of contact’ for two different men who were entered into the Counter-terrorism and Criminal Exploitation Unit’s list when they came to the U.S. from ‘threat countries’.

One of those men has since vanished and federal authorities are actively searching for him. The other is described as a ‘suspected terrorist’.

Saipov was never the center of any investigation, and his interviews with federal authorities did not raise suspicions enough for the FBI to start a case file on him.

Saipov also has a minor criminal record for traffic offenses in Missouri, Pennsylvania and Maryland.

He was pulled over in Maryland in 2011 and gave cops an address in Fort Myers, Florida.

In 2012 and 2015, he was pulled over twice in Pennsylvania and each time gave an address in Paterson, New Jersey

 His most recent traffic violation appears to have happened in April 2016, when he got a traffic violation in Missouri and said he was living in Tampa.

Each time he was cited for a traffic violation, Saipov pleaded guilty and paid a fine.

New York City Police Commissioner James O'Neill (center) stands with New York Governor Andrew Cuomo and (left) and Mayor Bill de Blasio during a news conference about the attack on Wednesday

New York City Police Commissioner James O’Neill (center) stands with New York Governor Andrew Cuomo and (left) and Mayor Bill de Blasio during a news conference about the attack on Wednesday

VICTIMS OF THE BIKE PATH TERROR ATTACK

Darren Drake, 32
Darren Drake, 32

Drake from New Milford, New Jersey, was taking a 15-minute afternoon break from his job at Moody’s Analytics nearby when he was struck.

His father said he had recently undergone weight loss surgery and cycled his bike to stay fit.

Drake’s grieving parents told The New York Post he that he had recently purchased a Citibike membership in a bid to lose weight.

They said he was ‘so smart’ and suggested that he may have been listening to an audio book when he was hit which they said they hoped meant he did not see the truck coming.

Nicholas Cleves, 23

Nicholas Cleves, 23 

Cleves is a resident of New York. He was identified along with Drake by the NYPD on Wednesday afternoon.

Cleves, 23, is a high school graduate and recently completed a degree in computer science from Skidmore College in Saratoga Springs.

He lived in Greenwich Street, near to where the truck began its rampage on the West Side Highway at Houston Street.

Shopkeepers in the area said Cleves was ‘warm’ and a ‘good person’. It is not clear if he was cycling or walking when he was hit.

Belgian tourist Ann-Laure Decadt, 31, 

Belgian tourist Ann-Laure Decadt, 31,

Mother-of-two Decadt was in New York with her two sisters and mother and was hit from behind as she traveled south on the bike path.

She died in New York Presbyterian Hospital after being rushed from the scene.

Her husband said she was a ‘wonderful’ mother to two young boys aged two and three-months.

He was notified that she had died in a phone call from hospital staff on Tuesday evening.

The woman’s mother and two sisters were not injured.

Five Argentinian friends visiting New York

Five men from a group of nine Argentinians who were in New York celebrating their 30th school reunion were killed.

The men were all on Citibikes and were struck cycling south along the path.

They are Hernan Diego Mendoza-Espino, 47,  Alegandro Damian Mendoza-Espino, 47,  Herman Ferruchi, 47, Diego Enrique, 47 and Ariel Erlis, 48.  

Five members of this group of Argentinian friends were also killed. They are Hernán Diego Mendoza (far left), Alejandro Damián Pagnucco (second from left), Ariel Erlij (third from left), Diego Enrique Angelini (second from right) and Hernán Ferruchi (third from right). A sixth friend, Martin Ludovico Marro (not pictured), was injured

 About an hour before the attack on Tuesday, Saipov rented a pick-up truck from a Home Depot in Passaic, New Jersey. He then drove the truck into the city over the George Washington Bridge, at the very northern tip of Manhattan, and made his way all the way down to lower Manhattan.

He crossed onto the Hudson River bike path at Houston Street, and then sped down the path nearly a mile – killing eight and injuring 12 while allegedly shouting ‘Allahu Akbar’.

He then waved a paintball gun in one hand and a pellet gun in the other, and was shot in the abdomen by a police officer.

Overnight FBI investigators searched through Saipov’s apartment in Paterson, and the white minivan he left behind at the Home Depot parking lot.

Investigators are also collecting video and pictures from the scene of the attack.

In addition to interviewing Saipov, investigators are also talking to his wife and are planning to track down his other contacts. A source told RFE that authorities in Uzbekistan interviewed Saipov’s mother, father and 17-year-old sister on Wednesday.

A makeshift memorial stands on a bike path in lower Manhattan on Wednesday where the terror attack was carrier out a day before 
 A makeshift memorial stands on a bike path in lower Manhattan on Wednesday where the terror attack was carrier out a day before

Five of the dead were part of a group from Argentina who were celebrating the 30-year anniversary of their high school graduation. Another victim was from Belgium and the other two were American. Two of the injured were staff members on a bus transporting children that Saipov slammed into at the end of his rampage.

Six people died at the scene and two more died at the hospital. Of the 12 others that were hospitalized, three have since been released. Four of the nine still hospitalized were in critical condition but are now stable. The rest are in serious condition.  The injuries ranged from a bilateral amputation to serious head and neck injuries, back trauma and trauma to the arms and legs.

Both New York City Mayor Bill de Blasio and New York Gov. Andrew Cuomo spoke at the Wednesday press conference.

‘This was an attack on the United States of America, an attack on New York City, an attack on our people,’ de Blasio said.

‘It was the definition of terror – an effort to take away people’s hopes and spirit and make them change.

‘And what New York has showed already is that we will not be changed. We will now be cowed, we will not be thrown off by anything,’ he added.

During the question and answer portion of the press conference, Cuomo criticized President Trump’s ‘politicization’ of the tragedy.

The aftermath took a political turn Wednesday when Trump said Saipov came to the U.S. under a visa lottery program — ‘a Chuck Schumer beauty,’ Trump called it in a reference to the Senate’s top Democrat.

Cuomo said it was not the time for such remarks – which he called ‘not helpful’ and ‘not factual’.

WHAT IS THE DIVERSITY VISA LOTTERY PROGRAM?

President Donald Trump pitted part of the blame for the latest New York City terror attack on one of the state’s senators, Chuck Schumer.

The terror suspect, 29-year-old Sayfullo Saipov, came to the U.S. in March 2010 from Uzbekistan, after winning a greencard through the Diversity Visa Lottery Program.

The program was enacted into law under the first President Bush in 1990, as part of a bi-partisan effort on immigration reform. The original bill was authored by Sen. Ted Kennedy, and Schumer was a co-sponsor of the bill.

The lottery is meant to benefit immigrants from under-represented ethnic groups, and was originally designed with the Irish in mind. As the years have gone by, the winners of the lottery have gotten more diverse, just like the name of the program. In 2015, nearly half the winners were African.

President Donald Trump complained Wednesday morning on Twitter that the terrorist who killed eight people Tuesday in New York entered the U.S. through a program that uses a lottery to award immigration visas
 President Donald Trump complained Wednesday morning on Twitter that the terrorist who killed eight people Tuesday in New York entered the U.S. through a program that uses a lottery to award immigration visas
The program, which awards visas mainly to people from countries that are under-represented in the U.S., was originally introduced by Sen. Chuck Schumer when he was a member of the House of Representatives

The program, which awards visas mainly to people from countries that are under-represented in the U.S., was originally introduced by Sen. Chuck Schumer when he was a member of the House of Representatives

Trump has argued for a 'merit-based' immigration system since at least March

Trump has argued for a ‘merit-based’ immigration system since at least March

Applicants who enter must have the equivalent of a high school degree and two years of work experience.

As many as 15 million prospective immigrants enter the lottery every year, but only 55,000 visas are awarded – 5.5 per cent of the about 1million who move to the U.S. every year.

The program is different from more traditional means of immigration.

Many people secure visas to move to the U.S. because they have desireable degrees, are going to study at a school or work for a specific employer. And of course there are those who secure visas through marriage.

In his comments on Wednesday, Trump blamed Schumer for the policy and said he wants all U.S. immigration to be merit-based (i.e. prospective immigrants must prove that they have something to offer).

‘The terrorist came into our country through what is called the ‘Diversity Visa Lottery Program,’ a Chuck Schumer beauty. I want merit based [immigration].

‘We are fighting hard for Merit Based immigration, no more Democrat Lottery Systems. We must get MUCH tougher (and smarter),’ the president tweeted.

Senate Minority Leader Chuck Schumer originally introduced the diversity visa program to an immigration bill in 1990 when he served in the House of Representatives

Senate Minority Leader Chuck Schumer originally introduced the diversity visa program to an immigration bill in 1990 when he served in the House of Representatives

Chuck Schumer fired back on Twitter, accusing President Trump of being eager to 'politicize a tragedy'

Chuck Schumer fired back on Twitter, accusing President Trump of being eager to ‘politicize a tragedy’

Later in the day, he held a press conference and promised to eradicate the program.

‘I am today starting the process of terminating the diversity lottery program,’ Trump told reporters before a midday Cabinet meeting. ‘It sounds nice. It’s not nice. It’s not good.’

While Schumer did indeed co-sponsor the bill nearly 30 years ago, he actually tried to end it in 2013 as part of the bi-partisan Gang of Eight immigration reform bill.

Schumer was part of the group of four Republicans and four Democrats that tried to pass the new immigration bill.

It never passed, but it if did it would have created a path to citizenship for undocumented immigrants already in the country, increased border security by adding up to 40,000 border patrol agents, instituted talent-based immigration program, increased visas and greencards for STEM students and placed restrictions on the oft-abused H-1B visa.

The other senators who authored the bill included the Democrats Michael Bennett, Dick Durbin and Robert Menendez and the Republicans Jeff Flake, Lindsay Graham, John McCain and Marco Rubio.

Schumer said Wednesday in a statement that he has ‘always believed and continue to believe that immigration is good for America.’

‘President Trump, instead of politicizing and dividing America, which he always seems to do at times of national tragedy, should be focusing on the real solution – anti-terrorism funding – which he proposed cutting in his most recent budget,’ Schumer said.

‘I’m calling on the President to immediately rescind his proposed cuts to this vital anti-terrorism funding.’

Below are the countries that saw the largest amount of Diversity Lottery winners in 2015. Saipov’s homeland of Uzbekistan makes it into the top 10.

THE TOP TEN (FY2015):

  • Cameroon: 5,000
  • Liberia: 5,000
  • Iran: 4,992
  • Egypt: 4,988
  • Ethiopia: 4,988
  • Democratic Republic of the Congo: 4,943
  • Ukraine: 4,679
  • Uzbekistan: 4,368
  • Russia: 4,103
  • Kenya: 3,534

http://www.dailymail.co.uk/news/article-5038871/Who-Uzbek-driver-mowed-innocents-NYC.html#ixzz4xIdXDecn

 

‘Send him to Gitmo’: Trump is considering banishing ‘animal’ New York terror suspect to military prison as WH brands him an enemy combatant

  • President Donald Trump told reporters on Wednesday that he might send terror suspect Sayfullo Saipov to the Guantanamo Bay military prison
  • ‘Send him to Gitmo,’ Trump said at the White House; ‘I would certainly consider that’
  • White House press secretary Sarah Sanders said later that Trump ‘wasn’t necessarily advocating for’ putting Saipov in Guantanamo 
  • Trump called Saipov ‘an animal’ a day after he allegedly moved down eight people in New York City with a rented truck, then yelled ‘Allahu Akbar’ 
  • The president said he’s begun winding down the ‘diversity’ visa lottery program, but he doesn’t have the legal authority to wipe it off the books
  • Sen. John McCain says Saipov committed an ‘act of war’ and should be treated as an ‘enemy combatant,’ interrogated and denied Miranda rights 

President Donald Trump said Wednesday that he would consider sending Sayfullo Saipov, the Uzbek national who plowed a rented truck through a bike lane full of cyclists and pedestrians on Tuesday, to the U.S. military prison at Guantanamo Bay, Cuba.

‘I would certainly consider that, yes. I would certainly consider that. Send him to Gitmo,’ Trump said.

White House press secretary Sarah Sanders told reporters hours later during a briefing that ‘the point he was making is that he supports – or would support that, but he wasn’t necessarily advocating for it.’

Trump ‘certainly would support it if he felt like that was the best move,’ she added cryptically.

Separately, Senate Armed Services Committee chairman John McCain, a Republican who has tangled with the president on taxes and Obamacare, said Saipov should be considered an ‘enemy combatant’ and denied Miranda rights by police.

President Donald Trump said as he began a cabinet meeting on Wednesday that he would consider sending suspected terrorist Sayfullo Saipov to the Guantanamo Bay military prison

Sayfullo Saipov was admitted to the U.S. in 2010 under the State Department's Diversity Immigrant Visa Program, and questions have arisen about whether he should have the same legal rights enjoyed by more ordinary criminal defendants

Sayfullo Saipov, the Uzbek national who plowed a rented truck through a bike lane full of cyclists and pedestrians on Tuesday, was admitted to the U.S. in 2010 under the State Department’s Diversity Immigrant Visa Program

The president also declared that he is already moving to terminate the State Department’s diversity-oriented visa lottery program, which granted Saipov entry into the United States in 2010.

‘I am today starting the process of terminating the diversity lottery program. I’m going to ask Congress to immediately initiate or get rid of this program,’ he said.

Trump called Saipov ‘an animal’ during remarks before a cabinet meeting at the White House.

‘He came in through the diversity program as you know, and we’re going to stop it,’ the president vowed.

On Capitol Hill, McCain said in a statement that Americans should recognize terror attacks as ‘acts of war.’

‘As such, the New York terror suspect should be held and interrogated – thoroughly, responsibly, and humanely– as an enemy combatant consistent with the Law of Armed Conflict,’ McCain added.

‘He should not be read Miranda Rights, as enemy combatants are not entitled to them. As soon as possible, the administration should notify Congress how it plans to proceed with the interrogation and trial of this suspect.’

Arizona Republican Sen. John McCain said Wednesday that international terror attacks are 'acts of war' and perpetrators should be considered 'enemy combatants'

Arizona Republican Sen. John McCain said terror attacks are ‘acts of war’ and perpetrators should be considered ‘enemy combatants’

South Carolina Sen. Lindsey Graham advocated for holding suspected terrorists without giving them Miranda rights, including the right to have an attorney

South Carolina Sen. Lindsey Graham advocates for holding suspected terrorists without giving them Miranda rights, including the right to have an attorney

South Carolina Republican Sen. Lindsey Graham also suggested grilling terror attackers without giving them the right to remain silent or an attorney.

Graham recommended on the Fox News Channel that authorities ‘Hold them for a long period of time, get to know them, interrogate them about what they know, where they got trained – if any training.’

‘And we’ll find out pretty soon more about this guy if you don’t read him his Miranda rights,’ he continued, ‘because that stops the interrogation.’

The president does not have the authority to unilaterally end the lottery program that was implemented by Congress in 1990.

He has endorsed Senate legislation that would replace it with a merit-based program, but it is not guaranteed to pass even if it comes to the floor for a vote.

The White House could order the State Department to reduce the maximum number of lottery visas awarded annually from 50,000 to as few as zero.

‘The “diversity lottery” – sounds nice. It’s not nice. It’s not good,’ Trump told reporters.

‘We want a merit-based program’ for immigration, Trump said, ‘where people come into our country based on merit.’

‘And we do not want chain migration, where ultimately someone like him will be allowed to bring in many, many members of his family,’ Trump said.

America's heavily fortified Guantanamo Bay prison camp, situated on leased land in Cuba, has been the home of suspected jihadi terrorists for decades

America’s heavily fortified Guantanamo Bay prison camp, situated on leased land in Cuba, has been the home of suspected jihadi terrorists for decades

There are only 41 prisoners left at 'Gitmo,' down from 242 when Barack Obama took office in 2009

Trump suggested that Americans were ‘suckers’ for supporting a system that allowed lax oversight of people allowed to fast-track their visa applications on the basis of a randomly drawn number.

‘We want people that are going to keep our country safe. We don’t want lotteries, where the wrong people are in the lotteries,’ he said.

‘And guess what? Who are the suckers that get those people.’

The president also complained about ‘being stopped by Democrats’ as he attempts to ‘get rid of this lottery program.’

‘We’re going to stop that,’ the president insisted.

Saipov was seen on video running through a lower Manhattan street as he yelled ‘Allahu akbar,’ just after mowing down eight people with a rented pickup truck.

Trump suggested on Wednesday that Americans were 'suckers' for supporting a system that allowed lax oversight of people allowed to fast-track their visa applications on the basis of a randomly drawn number

NYPD: Uzbek man ‘planned attack for number of weeks’

Trump has vowed to reverse the previous administration’s course on closing Guantanamo, which was one of former president Barack Obama’s earliest campaign promises – and one he never fulfilled.

Obama largely emptied out ‘Gitmo,’ as the terror-detention hellhole is known, reducing its population from 242 to just 41.

The prison camp has been the site of infamous torture techniques including waterboarding – which the president supported during his White House campaign.

‘Terrorists are constantly seeking to strike our nation and it will require the unflinching devotion to our law enforcement, homeland security and intelligence professionals to keep America safe,’ Trump said Wednesday

‘We have to get much tougher and we have to get much smarter,’ he added. ‘And we have to get much less politically correct. We’re so politically correct that we’re afraid to do anything.’

THE ‘DIVERSITY VISA’ LOTTERY

In the government fiscal year ending September 2015, the most recent year for which statistics are available, the State Department received about 9.4 million applications for Diversity Immigrant Visas.

The applications included petitions for another 5 million spouses and children who would be admitted to the U.S. with lottery winners, for a total of 14.4 million potential visa recipients.

About 125,000 of them were lottery-selected, giving them the right to apply for immigrant visas – a number that the State Department cut off at 50,000 on a first-come, first-served basis.

Uzbekistan was the 8th-highest represented nation among the lottery winners that year.

THE TOP TEN:

  • Cameroon: 5,000
  • Liberia: 5,000
  • Iran: 4,992
  • Egypt: 4,988
  • Ethiopia: 4,988
  • Democratic Republic of the Congo: 4,943
  • Ukraine: 4,679
  • Uzbekistan: 4,368
  • Russia: 4,103
  • Kenya: 3,534

 

White House says Saipov should be considered ‘enemy combatant’

A photo of Sayfullo Saipov is displayed at a news conference at One Police Plaza Wednesday, Nov. 1, 2017, in New York. Saipov is accused of driving a truck on a bike path that killed several and injured others Tuesday near One World Trade Center. (AP Photo/Craig Ruttle)

 – The Washington Times – Wednesday, November 1, 2017

The White House said Wednesday that it considers the New York terrorist attacker to be an enemy combatant, a status which would make him subject to military justice.

“I believe we would consider this person to be an enemy combatant, yes,” said White House press secretary Sarah Huckabee Sanders. “I think the actions that he took certainly justify that.”

Terrorist suspect Sayfullo Saipov, a native of Uzbekistan, is accused of killing eight people and injuring 11 others by mowing them down with a rented truck on a bike path in lower Manhattan Tuesday.

President Trump said he would consider sending Mr. Saipov to the Guantanamo Bay terrorist detention center. Mrs. Sanders said the president “wasn’t necessarily advocating for it.”

Asked about the president’s call for quicker and tougher justice in terrorism prosecutions, Mrs. Sanders said Mr. Trump “was simply expressing his frustration” with the lengthy legal process that often comes with such cases.

President Trump said he would consider sending Mr. Saipov to the Guantanamo Bay terrorist detention center. Mrs. Sanders said the president “wasn’t necessarily advocating for it.”

Asked about the president’s call for quicker and tougher justice in terrorism prosecutions, Mrs. Sanders said Mr. Trump “was simply expressing his frustration” with the lengthy legal process that often comes with such cases.

Justice Department spokesman Wyn Hornbuckle declined to comment Wednesday on whether there have been any discussions with the White House on sending Mr. Saipov to Guantanamo rather than filing criminal charges in a civilian court.

The question about whether Mr. Saipov could be subject to military justice or tried in the civilian courts comes amid developments in several high-profile terrorism trials in the federal courts.

A federal jury last month convicted Ahmad Khan Rahimi, a 29-year-old New Jersey man, of planting two pressure-cooker bombs in New York City in 2016, one of which exploded and injured 30 people.

The federal trial of Ahmed Abu Khattala, the alleged mastermind behind the deadly 2012 attack on an American compound in Benghazi, Libya, got underway last month. Federal prosecutors are still presenting evidence in that case at the federal courthouse in D.C.

According to Justice Department documents from 2015, federal civilian criminal courts had convicted 620 people on terrorism-related charges since the Sept. 11, 2001, terrorist attacks.

The number of convictions has continued to climb. A Fordham University School of Law analysis found that from March 2014 through August 2017, 135 people had been charged with and 77 people had been convicted of crimes linked to the Islamic State.

Since 2001, military commissions have resulted in eight convictions, with four overturned. The five people accused of conspiring in the Sept. 11 attacks have yet to go to trial after more than a decade in custody at Guantanamo.

Anthony D. Romero, executor director of the American Civil Liberties Union, said sending Mr. Saipov to Guantanamo or treating him as an enemy combatant would “violate due process and the rule of law.”

“The FBI and our federal court system are more than capable of dealing with terrorism cases, and Guantánamo was shown long ago to be an epic failure,” Mr. Romero said.

https://www.washingtontimes.com/news/2017/nov/1/wh-saipov-should-be-considered-enemy-combatant/

Trump orders Homeland Security to step up ‘extreme vetting’ in wake of NYC terror attack

President Trump announced that he has ordered Homeland Security to step up “extreme vetting” in the wake of the New York City attack that left eight people dead and 11 injured.

“I have just ordered Homeland Security to step up our already Extreme Vetting Program. Being politically correct is fine, but not for this!” he wrote.

I have just ordered Homeland Security to step up our already Extreme Vetting Program. Being politically correct is fine, but not for this!

Trump’s statement comes after a man described as a “lone wolf” deliberately drove a rented truck into a West Side bike path in lower Manhattan, in the first terror attack in New York City since 9/11, and just blocks from the World Trade Center.

Trump’s extreme-vetting policy on immigrants entails more stringent investigative measures intended to identify those who may sympathize with extremists or pose a national security risk to the United States.

On Wednesday, Trump called for “Merit Based immigration,” saying on Twitter that the driver in Tuesday’s attack “came into our country through what is called the ‘Diversity Visa Lottery Program,’ a Chuck Schumer beauty.”

Officials said the attacker is an immigrant from Uzbekistan who came to the U.S. legally in 2010. They haven’t said whether he came in through the Diversity Immigrant Visa Program, which covers immigrants from countries with low rates of immigration to the U.S.

Trump tweeted, “We are fighting hard for Merit Based immigration, no more Democrat Lottery Systems. We must get MUCH tougher (and smarter).”

On Tuesday, the driver brandished two fake guns when he exited the truck after the multi-block rampage which left a trail of mangled bodies and twisted bikes. He yelled “Allahu Akbar,” which is the Arabic phrase for “God is great.”

A high-ranking police source told PIX11 News the suspect has been identified as 29-year-old Sayfullo Saipov. He’s a resident of Tampa, Fla., who arrived in the United States in 2010 from Uzbekistan, sources told PIX11 News.

Under an executive order Trump signed earlier this year, the United States had temporarily halted admissions for refugees from all countries, with some exceptions. The end-date written into the order came and went last week with no new order from Trump to extend it, according to a State Department official, who wasn’t authorized to comment by name and requested anonymity.

Refugees seeking entry to the U.S. will face what officials described as more stringent and thorough examination of their backgrounds, in line with Trump’s “extreme vetting” policy for immigrants. The Homeland Security Department, the State Department and other U.S. agencies have been reviewing the screening process during the temporary ban.

Trump orders Homeland Security to step up ‘extreme vetting’ in wake of NYC terror attack

Diversity Immigrant Visa

From Wikipedia, the free encyclopedia

The five-year (2006–2010) legal immigration rate per country’s total 2005 population, defined as all those who received legal permanent residence in all categories, including regular immigrantsrefugees and asylees, diversity lottery winners, NACARA/HRIFA beneficiaries, and others.

The Diversity Immigrant Visa program, also known as the green card lottery, is a United States congressionally mandated lottery program for receiving a United States Permanent Resident Card. The Immigration Act of 1990 established the current and permanent Diversity Visa (DV) program.

The lottery is administered by the Department of State and conducted under the Immigration and Nationality Act (INA) as amended by the Immigration Act of 1990. The lottery makes available 50,000 permanent resident visas annually and aims to diversify the immigrant population in the United States, by selecting applicants from countries with low rates of immigration in the five years prior.

Attempts have been made to end the program since 2005. In 2017 it received widespread attention after eight people were killed in a terrorist attack by a recipient of a Diversity Immigrant Visa.

Requirements

To enter the lottery, applicants must have been born in an eligible country. If selected, to qualify for the immigrant visa, they must have completed at least a high school education or at least two years of work experience in an occupation which requires at least two other years of training or experience.[1] They must also satisfy general immigration requirements, such as means of support, no criminal background, and good health.

Eligibility is determined by the applicant’s country of birth. In some cases the applicant may use a parent’s or spouse’s country of birth instead. The country of residence or nationality is irrelevant.[1]

Distribution and lottery process

Regions and eligible countries for the Diversity Visa lottery

The visas are distributed among six regions: AfricaAsiaEurope (TurkeyCyprus and all countries in the former Soviet Union are allocated to Europe, even though some of them are geographically entirely in Asia), Latin America (MexicoCentral America, the Caribbean and South America), North America (consisting only of Canada and the Bahamas), and Oceania.[1][2]

Dependent territories are treated as part of their respective sovereign countries, and disputed territories are allocated as recognized by the United States. For example, Bermuda is treated as part of the United Kingdom under Europe, the Gaza Strip is considered part of Egypt under Africa, and the West Bank is considered part of Jordan under Asia. However, there are some exceptions: Northern IrelandHong Kong and Taiwan are treated as separate countries, and Macau is considered part of Portugal under Europe (even after its sovereignty returned to China in 1999).[1]

Each region that sent more than one sixth of the total number of immigrants to the United States in the previous five years is considered a “high-admission region” (currently Latin America and Asia), and each region that sent less than one sixth is a “low-admission region” (currently North America, Europe, Africa and Oceania). The proportion of Diversity Visas given to the low-admission group is set as the proportion of recent immigrants from the high-admission group (currently about 80%),[3] and vice versa. Among regions of the same group, the Diversity Visas are allocated proportionally to their population, excluding ineligible countries (those that sent more than 50,000 immigrants in the previous five years).[2]

There is a limitation that no single country may receive more than 7% of the total Diversity Visas (3,500).[1] Although only 50,000 Diversity Visas are available each year, the lottery selects about 100,000 applicants. The reason for the larger selection is to ensure that all 50,000 Diversity Visas are eventually given each year, since some applicants may not satisfy general immigration requirements or may decide not to continue the process. As a result, some lottery winners might not obtain a visa.[4] It is also possible that some visas remain available even after all initially selected applicants are reviewed. In this case, additional applicants are selected later. For this reason, applicants who were not initially selected in the lottery should keep checking their status online periodically, until the end of the respective fiscal year.[5]

History

Legislative and Administrative

Starting in 1986, the United States established several temporary immigrant visa programs outside of the usual immigration preferences (family members or by employment). The first program was NP-5, run from 1987 to 1989, where a limited number of visas was issued on a first-come, first-served basis. The second program was OP-1, run through a lottery from 1989 to 1991 and available for natives of countries with low levels of recent immigration to the United States. The third program, AA-1, ran from 1992 to 1994 and was available for natives from a select group of countries that had been “adversely affected” by earlier immigration laws. Intentionally and in practice, people from Ireland and Northern Ireland benefited disproportionally from these programs. They were also known as the DonnellyBerman and Morrison visas, respectively, after the congressmen who sponsored each one.[6][7][8][9]

The Immigration Act of 1990 established the current and permanent Diversity Visa (DV) program, where 55,000 immigrant visas (later reduced to 50,000) are available in an annual lottery. The lottery aims to diversify the immigrant population in the United States, by selecting applicants mostly from countries with low rates of immigration to the United States in the previous five years.[9] Starting in fiscal year 1999, 5,000 of the visas from the DV program are reserved for use by the NACARA program, so the number of immigrant visas available in the lottery is reduced to 50,000.[10]

The first DV lottery, for fiscal year 1995, was named DV-1.[11] For fiscal years 1996 to 1999, the name was in the format DV-YY, where YY was the last two digits of the year.[12][13][14][15] The lotteries since fiscal year 2000 have been named in the format DV-YYYY, with the full year number.[16] The year in the name refers to the fiscal year when the immigrant visas will be given, which starts in October of the previous calendar year, and the entry period for the lottery occurs almost a year earlier. Therefore, there is a two-year difference between the lottery name and its entry period. For example, for DV-2017 (fiscal year starting in October 2016), the entry period was in 2015.[1]

Initially, the DV lottery was administered entirely by mail, and only winners were notified. The entry form moved to an online system starting in DV-2005, but still only winners were notified, by mail.[6] Starting in DV-2010, all applicants are able to verify online whether they were selected.[17] Notification of winners also by mail continued until DV-2011, but since DV-2012 it is done exclusively online.[18]

Efforts to Repeal

In December 2005, the United States House of Representatives voted 273–148 to add an amendment to the border enforcement bill H.R. 4437 abolishing the DV. Opponents of the lottery said it was susceptible to fraud and was a way for terrorists to enter the country. The Senate never passed the bill.

In March 2007, Congressman Bob Goodlatte (R-VA) introduced H.R. 1430, which would eliminate the Diversity Visa program. In June 2007, the U.S. House passed H.R. 2764 to eliminate funding for the program, and the Senate did likewise in September.[19] However, the final version of this bill with amendments, signed into law on December 26, 2007, did not include the removal of funds for the program. Several attempts have been made over the last several years to eliminate the lottery. Although H.R. 2764 was an appropriation bill and could only cut funds for the lottery during one fiscal year, this was the first time that both the House and the Senate passed a bill to halt the Diversity Visa program. H.R. 2764

Rep. Goodlatte reintroduced his Security and Fairness Enhancement for America Act (formerly H.R. 1430, now H.R. 2305) on May 7, 2009. The bill would have amended the Immigration and Nationality Act to eliminate the diversity immigrant program completely, but did not pass. Rep. Sheila Jackson-Lee (D-TX) introduced the Save America Comprehensive Immigration Act of 2009 (H.R. 264) on January 7, 2009. The bill would have doubled the number of Diversity Visas available to 110,000 yearly. The bill did not pass.[20] If it had passed, the Border Security, Economic Opportunity, and Immigration Modernization Act of 2013 would have abolished the program in fiscal year 2015. A comprehensive analysis of DV lottery issues was prepared in 2011 by Congressional Research Service.[21]

Terrorism

In 2002 Hesham Mohamed Hadayet, an Egyptian immigrant who maintained residency in United States through his wife’s Diversity Visa[22]killed two people and injured four others at Los Angeles International Airport.[23][24][25] In 2017 Sayfullo Habibullaevich Saipov, who had immigrated from Uzbekistan on a Diversity Visa, killed eight and injured eleven when he drove his truck down a bike path in Lower Manhattan.[26][27]

Ineligible countries

Those born in any territory that has sent more than 50,000 immigrants to the United States in the previous five years are not eligible to receive a Diversity Visa. For DV-2019, natives of the following nations are ineligible: BangladeshBrazilCanadaChina (mainland-born), ColombiaDominican RepublicEl SalvadorHaitiIndiaJamaicaMexicoNigeriaPakistanPeruPhilippinesSouth KoreaUnited Kingdom (except Northern Ireland) and its dependent territories, and Vietnam.[28]

Exemptions

The term 50,000 “immigrants” refers only to people who immigrated via the family-sponsored, employment, or immediate relatives of U.S. citizen categories, and does not include other categories such as refugees, asylum seekers, NACARA beneficiaries, or previous diversity immigrants. It is for this reason that CubaIraqMyanmarIranEthiopiaNepalGuatemalaEcuador and Egypt are not on the ineligible list as of 2016 despite sending over 50,000 immigrants in the previous five years.[29]Northern Ireland has a special exemption, with natives able to enter the lottery despite the rest of the United Kingdom being ineligible.

Changes

The first program was in fiscal year 1995, and the following 13 countries were ineligible from the start: Canada, China (mainland), Dominican Republic, El Salvador, Haiti, India, Jamaica, Mexico, Philippines, South Korea, Taiwan, United Kingdom (except Northern Ireland) and its dependent territories, and Vietnam. Since then, Bangladesh, Brazil, Colombia, Nigeria, Pakistan and Peru have been added to the ineligible list and are currently on it, Taiwan has been removed from it, and Ecuador, Guatemala, Poland and Russia have been on it at times, reflecting the changing levels of immigration from these countries.

Of the eight most populous countries in the world, all are ineligible except Indonesia. Of the next 11 most populous countries, eight are eligible, of which six are among the heaviest users of the lottery (RussiaEthiopiaEgyptDemocratic Republic of the CongoIran and Turkey); each of these countries was assigned close to the maximum possible ~4,500 openings for DV-2019 (along with AlbaniaNepalUkraine and Uzbekistan).[4]

Historical eligibility for the Diversity Immmigrant Visa lottery
Country Fiscal year
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
 Bangladesh Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No
 Brazil Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No
 Canada No No No No No No No No No No No No No No No No No No No No No No No No No
 China No No No No No No No No No No No No No No No No No No No No No No No No No
 Colombia Yes No No No No No No No No No No No No No No No No No No No No No No No No
 Dominican Republic No No No No No No No No No No No No No No No No No No No No No No No No No
 Ecuador Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No Yes Yes
 El Salvador No No No No No No No No No No No No No No No No No No No No No No No No No
 Guatemala Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No Yes Yes Yes Yes Yes Yes
 Haiti No No No No No No No No No No No No No No No No No No No No No No No No No
 India No No No No No No No No No No No No No No No No No No No No No No No No No
 Jamaica No No No No No No No No No No No No No No No No No No No No No No No No No
 Mexico No No No No No No No No No No No No No No No No No No No No No No No No No
 Nigeria Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No
 Pakistan Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No No No No No No
 Peru Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No
 Philippines No No No No No No No No No No No No No No No No No No No No No No No No No
 Poland Yes Yes Yes No No No No Yes Yes Yes Yes Yes No No No No No No Yes Yes Yes Yes Yes Yes Yes
 Russia Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
 South Korea No No No No No No No No No No No No No No No No No No No No No No No No No
 Taiwan No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
 United Kingdom No No No No No No No No No No No No No No No No No No No No No No No No No
 Vietnam No No No No No No No No No No No No No No No No No No No No No No No No No
Others Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Statistics

Applicants (including derivatives)[30][31][32][4]
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 3,901,066 4,150,726 4,372,522 5,105,274 5,812,139 6,304,186 6,783,699 7,500,487 6,586,260 N/A N/A N/A
Asia 2,732,805 3,506,073 6,401,172 6,175,452 7,870,896 10,102,185 1,863,169 2,384,168 2,720,578 N/A N/A N/A
Europe 1,910,410 2,120,916 2,174,715 2,154,567 2,593,074 3,022,506 3,512,521 4,434,266 4,731,913 N/A N/A N/A
Latin America 489,144 243,694 192,447 126,168 193,932 200,712 377,386 266,272 315,667 N/A N/A N/A
North America 1,968 2,647 3,193 2,624 3,793 3,717 3,356 3,657 3,585 N/A N/A N/A
Oceania 34,834 40,260 40,964 33,743 37,674 38,962 37,224 45,120 39,884 N/A N/A N/A
Total 9,070,227 10,064,316 13,185,013 13,597,828 16,511,508 19,672,268 12,577,355 14,633,970 14,397,887 17,573,350 19,344,586 23,088,613
Selected applicants (including derivatives)[30][31][32]
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 43,998 52,823 53,979 54,003 51,004 50,000 52,080 61,942 58,000 45,034 38,500 49,392
Asia 11,929 14,142 14,002 15,001 14,999 15,002 16,045 23,270 20,002 15,002 13,499 15,997
Europe 21,939 26,150 27,921 29,803 30,999 31,001 33,088 46,589 40,000 27,011 28,500 41,706
Latin America 3,097 1,845 1,893 1,982 2,001 2,002 2,206 4,620 3,999 3,000 1,951 4,995
North America 12 17 12 18 18 15 16 23 14 16 10 15
Oceania 1,398 1,713 1,801 1,803 1,600 2,001 2,193 4,215 3,499 1,500 1,450 3,863
Total 82,373 96,690 99,608 102,610 100,621 100,021 105,628 140,659 125,514 91,563 83,910 115,968
Proportion of applicants who were selected
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 1.13% 1.27% 1.23% 1.06% 0.88% 0.79% 0.77% 0.83% 0.88% N/A N/A N/A
Asia 0.44% 0.40% 0.22% 0.24% 0.19% 0.15% 0.86% 0.98% 0.74% N/A N/A N/A
Europe 1.15% 1.23% 1.28% 1.38% 1.20% 1.03% 0.94% 1.05% 0.85% N/A N/A N/A
Latin America 0.63% 0.76% 0.98% 1.57% 1.03% 1.00% 0.58% 1.74% 1.27% N/A N/A N/A
North America 0.61% 0.64% 0.38% 0.69% 0.47% 0.40% 0.48% 0.63% 0.39% N/A N/A N/A
Oceania 4.01% 4.25% 4.40% 5.34% 4.25% 5.14% 5.89% 9.34% 8.77% N/A N/A N/A
Total 0.91% 0.96% 0.76% 0.75% 0.61% 0.51% 0.84% 0.96% 0.87% 0.52% 0.43% 0.50%

Criticism

Critics have called for ending the program citing fraud and the random nature of the lottery.[33][34] Others have noted the risk of terrorism, citing a 2002 terror attack by an Egyptian immigrant who maintained residency in United States through his wife’s Diversity Visa.[22][35][36] Following a 2017 terrorist attack by another Diversity Visa recipient, President Donald Trump, who had earlier called for a return to a “merit-based” immigration system,[37][38] called for an end to the program.[39][40]

Fraud

There is no charge to enter the Diversity Visa lottery, and the only way to do so is by completing and sending the electronic form available at the U.S. Department of State’s website during the registration period. However, there are numerous companies and websites that charge a fee in order to complete the form for the applicant. The Department of State and the Federal Trade Commission have warned that some of these businesses falsely claim to increase someone’s chances of winning the lottery, or that they are affiliated with the U.S. government.[41]

There have also been numerous cases of fraudulent emails and letters which falsely claim to have been sent by the Department of State and that the recipient has been granted a Permanent Resident Card. These messages prompt the recipients to transfer a “visa processing fee” as a prerequisite for obtaining a “guaranteed” green card. The messages are sometimes sent to people who never participated in the lottery and can look trustworthy as they contain the recipient’s exact name and contact details and what appears to be a legal notice.

The Department of State has issued a warning against the scammers. It notes that any email claiming the recipient to be a winner of the lottery is fake because the Department has never notified and will not notify winners by email. The Department has urged recipients of such messages to notify the Internet Crime Complaint Center about the scam.[42] The office of inspector general identified multiple problems with DV lottery in several countries, including Ukraine, Ghana, Albania in embassy inspection reports.[43][44][45] According to testimony from Stephen A. Edson before the House Judiciary Committee, “in Bangladesh, for example, one agent is reported to have enrolled an entire phone book so that he could then either extort money from winning applicants who had never entered the program to begin with or sell their winning slots to others.”[46]

References

https://en.wikipedia.org/wiki/Diversity_Immigrant_Visa

Story 2: Trump Expected To Name Jerome Powell As Next Federal Reserve Chairman Replacing Chair Janet Yellen — A Dove or Continuation of Interventionist Easy Monetary Policy — Better Choice Was John Taylor — Taylor For Fed Chair and Powell for Vice Chair — Videos

Bill Gross on Fed Chair Candidates, Bonds, U.S. Deficit

Bill Gross on the Future of Asset Management and the Fed

Who is Jerome Powell?

Trump leaning toward Jerome Powell for Fed Chair: sources

The Economic Club of New York Event – Jerome Powell

Published on Jun 28, 2017
Thursday June 1, 2017 Jerome Powell Governor, Federal Reserve System

Powell Is a Force at the Federal Reserve, Says Wallace

End The Fed? … Libertarian Republicans? … #AskRonPaul

President Trump Sells Out Candidate Trump’s Federal Reserve Campaign Promises

KEYNOTE ADDRESS – Jerome H. Powell

Trump Said to Be Leaning Toward Powell for Fed Chair

Powell, Taylor Said to Be Leading Fed Chair Choices

Trump: Fed’s a very important position

Published on Oct 23, 2017
President Donald Trump on tech regulations, the Federal Reserve, NAFTA, the outlook for U.S. economic growth and defense spending.

Alan Greenspan Is ‘Nervous’ Bond Prices Are Too High

Published on Aug 1, 2016
July 28 — Alan Greenspan, former Federal Reserve chairman and founder of Greenspan Associates, discusses nervousness over bond prices and moving into currencies to counter negative interest rates, as well as dealing with uncertainties in the global economy. He speaks with Bloomberg’s Alix Steel on “Bloomberg ‹GO›.”

Greenspan: You Can’t Fix U.S. Economy Until You Fix Entitlements

Published on Dec 14, 2016
Dec.13 — Former Federal Reserve Chairman Alan Greenspan discusses his outlook for productivity and U.S. economic growth. He speaks with Bloomberg’s David Westin.

Who will be next Fed chair?

BVTV: The race to be next Fed chair

The Men Who Will Soon Run The Federal Reserve – What You Need To Know

A Powell, Taylor Fed Hawkish to Markets, Says Zentner

What John Taylor Would Bring to the Federal Reserve

Published on Oct 17, 2017
Oct.17 — David Riley, head of credit strategy at Bluebay Asset Management, and Ed Perks, chief investment officer at Franklin Templeton Multi-Asset Solutions, examine what John Taylor would offer as Federal Reserve Chairman. They speak on “Bloomberg Daybreak: Americas.”

Interview with Professor John Taylor

The Fed Should Raise Rates to Help the Economy – John Taylor

Published on Nov 13, 2015

The Federal Reserve should return to conventional monetary policy as soon as possible as higher interest rates would be beneficial to the U.S. economy, said noted economist John Taylor of Stanford University. Taylor spoke with TheStreet during a conference called ‘Rethinking Monetary Policy,’ which was held at the Cato Institute in Washington D.C. Thursday. ‘To me the rethinking in some sense is going back and seeing why things worked well when they did in the ‘80s and ’90s until this period,’ said Taylor. ‘Rethinking means adapting some of the things that we forgot.’ Taylor argues that unconventional Fed policy, which was enacted in response to the financial crisis, has in some ways been detrimental. ‘The world has suffered in a way from being off track, from these very unusual policies. And so fixing that, getting back to where I think the Fed wants to go, would be an improvement,’ explained Taylor. ‘Just globally speaking, it’s not been a very successful decade,’ he added. Taylor argues for a rules-based policy system for Central Banks, saying it would lead to less volatility in policy making. TheStreet’s Rhonda Schaffler reports.

John B. Taylor’s Keynote Address: Monetary Rules for a Post-Crisis World

Monetary Policy Based on the Taylor Rule

Debate on the “Neutral” Interest Rate: Opening Presentations

Debate on the “Neutral” Interest Rate: John Taylor’s Take

Debate on the “Neutral” Interest Rate: Audience Q&A

A Powell, Taylor Fed Hawkish to Markets, Says Zentner

5 Keys to Restoring America’s Prosperity: John B. Taylor

In his new book, First Principles: Five Keys to Restoring America’s Prosperity, Stanford University professor of economics John B. Taylor, details the not-so-secret ingredients to rebuilding American’s economic future: predictable policy, rule of law, strong incentives, reliance on markets, and a clearly limited role for government. “America can be great again, economically speaking,” Taylor explains, “it’s just more recently where we’ve gone off track.” Taylor sat down with Reason Magazine Managing Editor Katherine Mangu-Ward to discuss his book, the principles that underlie America’s economic supremacy and what’s gone wrong over the past decade. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005. His previous books include Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis.

John B. Taylor “How Government Interventions Caused the Financial Crisis.”

Author John B. Taylor discusses his book “Getting Off Track — How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis,” with Reason.tv’s Michael C. Moynihan.

Is the Fed Making the Crisis Worse? – John B. Taylor

Uncommon Knowledge with John B. Taylor

Economist Lee Says Taylor Can Be One of Best Fed Chairs

The Fed Should Raise Rates to Help the Economy – John Taylor

Trump to Tap Jerome Powell as Next Fed Chairman

The president is expected to announce his decision Thursday

Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012.
Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012. PHOTO:JOSHUA ROBERTS/REUTERS

If confirmed by the Senate, Mr. Powell would succeed Fed Chairwoman Janet Yellen, the central bank’s first female leader, whose four-year term as Fed chief expires in early February.

In his five years at the Fed, Mr. Powell has been a reliable ally of Ms. Yellen and would likely continue the Fed’s current cautious approach to reversing the central bank’s crisis-era stimulus policies as the economy expands.

That would mean gradually raising short-term interest rates in quarter-percentage-point steps through 2020 while slowly shrinking the Fed’s $4.2 trillion portfolio of Treasury and mortgage-backed securities it purchased to lower long-term rates.

Mr. Powell’s nomination would mark the first time in nearly four decades that a new president hasn’t asked the serving Fed leader to stay on for another term, even though that person was nominated by a president of a different party. The last time a first-term president didn’t do that was in 1978, when President Jimmy Carter chose G. William Miller to succeed Arthur Burns.

The president spoke with Mr. Powell on Tuesday, according to people familiar with the matter who couldn’t describe what they discussed.

Mr. Trump had settled on Mr. Powell by Saturday, but people familiar with the process had cautioned that he could change his mind. The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday.

Reached by phone Wednesday, both Mr. Powell and Ms. Yellen declined to comment. A Fed spokeswoman also declined to comment.

Ms. Yellen was one of five finalists for the position, along with Stanford University economics professor John Taylor, former Fed governor Kevin Warsh and National Economic Council Director Gary Cohn.

Mr. Taylor and Mr. Warsh didn’t respond to requests seeking comment Wednesday. Mr. Cohn’s spokeswoman didn’t immediately respond to a request for comment.

Mr. Trump said in a video last week that he had “somebody very specific in mind” for the job. “It will be a person who hopefully will do a fantastic job,” Mr. Trump said in a video posted to Instagram, adding, “I think everybody will be very impressed.”

Fed officials began raising their benchmark federal-funds rate in December 2015 after holding it near zero for seven years following the financial crisis. They voted in June to lift rates to a range between 1% and 1.25% and in October started the process of slowly shrinking the Fed’s bond portfolio.

FED SPEECH ANALYZER

“The economy is as close to our assigned goals as it has been for many years,” Mr. Powell said in June. If it continues growing as expected, “I would view it as appropriate to continue to gradually raise rates.”

Officials have penciled in one more rate increase this year. But they indicated in September such increases are likely to end at a lower point than they had previously projected—at a longer-run level of around 2.75%—considerably lower than where officials have stopped raising rates in the past.

Mr. Trump told The Wall Street Journal in July, “I’d like to see rates stay low.”

The Fed on Wednesday left short-term interest rates unchanged, but signaled it would consider lifting them before year’s end amid signs the economy is gaining momentum.

Mr. Powell has never dissented on a Fed monetary or regulatory policy vote and in speeches hasn’t deviated far from the board’s consensus.

Where he could lead a shift is on regulatory policy. He has advocated loosening some of the financial rules adopted by the Fed and other agencies since the crisis, a position that meshes with Mr. Trump’s deregulatory agenda. Mr. Powell has suggested softening the Volcker rule barring banks from using their own money to make risky bets and easing some bank stress tests.

He also has endorsed reviewing some of the supervisory duties imposed on banks’ boards of directors to prevent them from being burdened with “an ever-increasing checklist.”

“More regulation is not the best answer to every problem,” Mr. Powell said in a speech in early October.

How Fed Chairs Have Fared

A look at various Fed regimes, and how they used interest rates to manage inflation, growth and the economy

*Seasonally adjusted †Change from a year earlier in the price index for personal-consumption expenditures

Source: Federal Reserve Bank of St. Louis

“To some extent he offers Trump the best of both worlds. You get broadly speaking continuity of Yellen’s careful and relatively dovish approach to monetary policy but with somebody who is a card-carrying Republican and who is significantly more inclined to revisit some of the postcrisis regulations,” said Krishna Guha, vice chairman at Evercore ISI and a former New York Fed official.

Karen Petrou, managing partner of the financial-services consulting firm Federal Financial Analytics, said Mr. Powell’s recent remarks on regulation “were certainly much more flexible than [Ms. Yellen] has been.”

Mr. Powell, a lawyer, would be the first Fed leader in three decades without a Ph.D. in economics. Before joining the Fed board, Mr. Powell worked as an investment banker in New York City, as Treasury undersecretary for financial institutions in the George H.W. Bush administration, as a partner at the Carlyle Group and as a scholar at the Bipartisan Policy Center.

That background could serve him well, said Aaron Klein, an economic studies fellow at the Brookings Institution and director of the Center on Regulation and Markets.

“The Federal Reserve’s mandate has grown significantly since the financial crisis,” he said. “With a broader mandate, one should expect broader and more diverse backgrounds of potential good fits for a chair.”

“He would represent continuity of the Fed system and culture but a break from the predominance of monetary policy as the core background of the chair,” Mr. Klein said.

The decision marks the culmination of an unusually public and drawn-out search for one of the top economic policy-making jobs in the world.

Mr. Trump upended the usually staid selection process by openly weighing the pros and cons of various candidates and asking lawmakers, businesspeople and media personalities for their input.

Mr. Trump polled GOP senators last month on their preferred choice at a lunch on Capitol Hill, and said he was still considering “two, and maybe three” people for the job.

Mr. Trump has other opportunities to reshape the central bank. Randal Quarles, his first nominee to the Fed’s powerful seven-member board of governors, took office in October. Three other seats remain open.

Nominations for all board positions, including chairman and vice chairman, are subject to Senate confirmation.

Mr. Powell should have little trouble winning Senate approval, but his views could clash with those of some Republican senators who have criticized him for supporting the Fed’s easy-money and postcrisis regulatory policies.

He won confirmation to the Fed with bipartisan support in the Senate twice before: to fill an unfinished governor’s term in 2012 and for a full term in 2014. Some Republicans have suggested he could face difficult questions from his own side of the aisle. “I think we should move in a different direction,” from current Fed policies, Sen. Pat Toomey (R., Pa.) said last month about the possibility of a Powell nomination.

Write to Kate Davidson at kate.davidson@wsj.com, Peter Nicholas at

https://www.wsj.com/articles/trump-to-tap-feds-jerome-powell-for-fed-chairman-1509568166

Taylor rule

From Wikipedia, the free encyclopedia

In economics, a Taylor rule is a reduced form approximation of the responsiveness of the nominal interest rate, as set by the central bank, to changes in inflationoutput, or other economic conditions. In particular, the rule describes how, for each one-percent increase in inflation, the central bank tends to raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle. Although such rules may serve as concise, descriptive proxies for central bank policy, and are not explicitly proscriptively considered by central banks when setting nominal rates.

The rule was first proposed by John B. Taylor,[1] and simultaneously by Dale W. Henderson and Warwick McKibbin in 1993.[2] It is intended to foster price stability by systematically reducing uncertainty and increasing the credibility of future actions by the central bank. It may also avoid the inefficiencies of time inconsistency from the exercise of discretionary policy.[3] The Taylor rule synthesized, and provided a compromise between, competing schools of economics thought in a language devoid of rhetorical passion.[4] Although many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, research shows that the rule has advanced the practice of central banking.[5]

As an equation

According to Taylor’s original version of the rule, the nominal interest rate should respond to divergences of actual inflation rates from target inflation rates and of actual Gross Domestic Product (GDP) from potential GDP:

{\displaystyle i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar {y}}_{t}).}i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar y}_{t}).

In this equation, {\displaystyle \,i_{t}\,}\,i_{t}\, is the target short-term nominal interest rate (e.g. the federal funds rate in the US, the Bank of England base rate in the UK), {\displaystyle \,\pi _{t}\,}\,\pi _{t}\, is the rate of inflation as measured by the GDP deflator{\displaystyle \pi _{t}^{*}}\pi _{t}^{*} is the desired rate of inflation, {\displaystyle r_{t}^{*}}r_{t}^{*} is the assumed equilibrium real interest rate, {\displaystyle \,y_{t}\,}\,y_{t}\, is the logarithm of real GDP, and {\displaystyle {\bar {y}}_{t}}{\bar y}_{t} is the logarithm of potential output, as determined by a linear trend.

In this equation, both {\displaystyle a_{\pi }}a_{{\pi }} and {\displaystyle a_{y}}a_{y} should be positive (as a rough rule of thumb, Taylor’s 1993 paper proposed setting {\displaystyle a_{\pi }=a_{y}=0.5}a_{{\pi }}=a_{y}=0.5).[6] That is, the rule “recommends” a relatively high interest rate (a “tight” monetary policy) when inflation is above its target or when output is above its full-employment level, in order to reduce inflationary pressure. It recommends a relatively low interest rate (“easy” monetary policy) in the opposite situation, to stimulate output. Sometimes monetary policy goals may conflict, as in the case of stagflation, when inflation is above its target while output is below full employment. In such a situation, a Taylor rule specifies the relative weights given to reducing inflation versus increasing output.

The Taylor principle

By specifying {\displaystyle a_{\pi }>0}a_{{\pi }}>0, the Taylor rule says that an increase in inflation by one percentage point should prompt the central bank to raise the nominal interest rate by more than one percentage point (specifically, by {\displaystyle 1+a_{\pi }}1+a_{{\pi }}, the sum of the two coefficients on {\displaystyle \pi _{t}}\pi _{t} in the equation above). Since the real interest rate is (approximately) the nominal interest rate minus inflation, stipulating {\displaystyle a_{\pi }>0}a_{{\pi }}>0 implies that when inflation rises, the real interest rate should be increased. The idea that the real interest rate should be raised to cool the economy when inflation increases (requiring the nominal interest rate to increase more than inflation does) has sometimes been called the Taylor principle.[7]

Alternative versions of the rule

Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule

While the Taylor principle has proved very influential, there is more debate about the other terms that should enter into the rule. According to some simple New Keynesian macroeconomic models, insofar as the central bank keeps inflation stable, the degree of fluctuation in output will be optimized (Blanchard and Gali call this property the ‘divine coincidence‘). In this case, the central bank does not need to take fluctuations in the output gap into account when setting interest rates (that is, it may optimally set {\displaystyle a_{y}=0}a_{y}=0.) On the other hand, other economists have proposed including additional terms in the Taylor rule to take into account financial conditions: for example, the interest rate might be raised when stock prices, housing prices, or interest rate spreads increase.

• Taylor Rule 1993 – the original definition by John Taylor with {\displaystyle a_{\pi }=a_{y}=0.5}{\displaystyle a_{\pi }=a_{y}=0.5}

• Taylor Rule 1999 – adapted and updated by John Taylor in a new research paper: {\displaystyle a_{\pi }=0.5,a_{y}\geq 0}{\displaystyle a_{\pi }=0.5,a_{y}\geq 0}

Empirical relevance

Although the Federal Reserve does not explicitly follow the Taylor rule, many analysts have argued that the rule provides a fairly accurate summary of US monetary policy under Paul Volcker and Alan Greenspan.[8][9] Similar observations have been made about central banks in other developed economies, both in countries like Canada and New Zealand that have officially adopted inflation targeting rules, and in others like Germany where the Bundesbank‘s policy did not officially target the inflation rate.[10][11] This observation has been cited by ClaridaGalí, and Gertler as a reason why inflation had remained under control and the economy had been relatively stable (the so-called ‘Great Moderation‘) in most developed countries from the 1980s through the 2000s.[8] However, according to Taylor, the rule was not followed in part of the 2000s, possibly leading to the housing bubble.[12][13] Certain research has determined that some households form their expectations about the future path of interest rates, inflation, and unemployment in a way that is consistent with Taylor-type rules.[14]

Criticisms

Athanasios Orphanides (2003) claims that the Taylor rule can misguide policy makers since they face real-time data. He shows that the Taylor rule matches the US funds rate less perfectly when accounting for these informational limitations and that an activist policy following the Taylor rule would have resulted in an inferior macroeconomic performance during the Great Inflation of the seventies.[15]

In 2015, financial manager Bill Gross said the Taylor rule “must now be discarded into the trash bin of history”, in light of tepid GDP growth in the years after 2009.[16] Gross believed low interest rates were not the cure for decreased growth, but the source of the problem.

See also

References

  1. Jump up^ Taylor, John B. (1993). “Discretion versus Policy Rules in Practice” (PDF). Carnegie-Rochester Conference Series on Public Policy39: 195–214. (The rule is introduced on page 202.)
  2. Jump up^ Henderson, D. W.; McKibbin, W. (1993). “A Comparison of Some Basic Monetary Policy Regimes for Open Economies: Implications of Different Degrees of Instrument Adjustment and Wage Persistence”. Carnegie-Rochester Conference Series on Public Policy39: 221–318. doi:10.1016/0167-2231(93)90011-K.
  3. Jump up^ Taylor, John (2012). First Principles: Five Keys to Restoring America’s Economic Prosperity. New York: W.W. Norton & Company, Inc. p. 126
  4. Jump up^ Kahn, George A.; Asso, Pier Francesco; Leeson, Robert (2007). “The Taylor Rule and the Transformation of Monetary Policy”. Federal Reserve Bank of Kansas City Working Paper 07-11SSRN 1088466Freely accessible.
  5. Jump up^ Asso, Pier Francesco; Kahn, George A.; Leeson, Robert (2010). “The Taylor Rule and the Practice of Central Banking”. Federal Reserve Bank of Kansas City Working Paper 10-05SSRN 1553978Freely accessible.
  6. Jump up^ Athanasios Orphanides (2008). “Taylor rules,” The New Palgrave Dictionary of Economics, 2nd Edition. v. 8, pp. 2000-2004, equation (7).Abstract.
  7. Jump up^ Davig, Troy; Leeper, Eric M. (2007). “Generalizing the Taylor Principle”. American Economic Review97 (3): 607–635. JSTOR 30035014doi:10.1257/aer.97.3.607.
  8. Jump up to:a b Clarida, Richard; Galí, Jordi; Gertler, Mark (2000). “Monetary Policy Rules and Macroeconomic Stability: Theory and Some Evidence”. Quarterly Journal of Economics115 (1): 147–180. JSTOR 2586937doi:10.1162/003355300554692.
  9. Jump up^ Lowenstein, Roger (2008-01-20). “The Education of Ben Bernanke”The New York Times.
  10. Jump up^ Bernanke, Ben; Mihov, Ilian (1997). “What Does the Bundesbank Target?”. European Economic Review41 (6): 1025–1053. doi:10.1016/S0014-2921(96)00056-6.
  11. Jump up^ Clarida, Richard; Gertler, Mark; Galí, Jordi (1998). “Monetary Policy Rules in Practice: Some International Evidence”. European Economic Review42 (6): 1033–1067. doi:10.1016/S0014-2921(98)00016-6.
  12. Jump up^ Taylor, John B. (2008). “The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong” (PDF).
  13. Jump up^ Taylor, John B. (2009). Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis. Hoover Institution Press. ISBN 0-8179-4971-2.
  14. Jump up^ Carvalho, Carlos; Nechio, Fernanda (2013). “Do People Understand Monetary Policy?”. Federal Reserve Bank of San Francisco Working Paper 2012-01SSRN 1984321Freely accessible.
  15. Jump up^ Orphanides, A. (2003). “The Quest for Prosperity without Inflation”. Journal of Monetary Economics50 (3): 633–663. doi:10.1016/S0304-3932(03)00028-X.
  16. Jump up^ Bill Gross (July 30, 2015). “Gross: Low rates are the problem, not the solution”CNBC. Retrieved July 30, 2015.

External links

https://en.wikipedia.org/wiki/Taylor_rule

Real interest rate

From Wikipedia, the free encyclopedia

Yields on inflation-indexed government bonds of selected countries and maturities.

The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.

If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, they would expect to earn a real interest rate of 3%.[1] The expected real interest rate is not a single number, as different investors have different expectations of future inflation. Since the inflation rate over the course of a loan is not known initially, volatility in inflation represents a risk to both the lender and the borrower.

In the case of contracts stated in terms of the nominal interest rate, the real interest rate is known only at the end of the period of the loan, based on the realized inflation rate; this is called the ex-post real interest rate. Since the introduction of inflation-indexed bondsex-ante real interest rates have become observable.[2]

Risks

In economics and finance, an individual who lends money for repayment at a later point in time expects to be compensated for the time value of money, or not having the use of that money while it is lent. In addition, they will want to be compensated for the risks of having less purchasing power when the loan is repaid. These risks are systematic risks, regulatory risks and inflation risks. The first includes the possibility that the borrower will default or be unable to pay on the originally agreed upon terms, or that collateral backing the loan will prove to be less valuable than estimated. The second includes taxation and changes in the law which would prevent the lender from collecting on a loan or having to pay more in taxes on the amount repaid than originally estimated. The third takes into account that the money repaid may not have as much buying power from the perspective of the lender as the money originally lent, that is inflation, and may include fluctuations in the value of the currencies involved.

Nominal interest rates include all three risk factors, plus the time value of the money itself.
Real interest rates include only the systematic and regulatory risks and are meant to measure the time value of money.

The “real interest rate” in an economy is often considered to be the rate of return on a risk free investment, such as US Treasury notes, minus an index of inflation, such as the rate of change of the CPI or GDP deflator.

Fisher equation

The relation between real and nominal interest rates and the expected inflation rate is given by the Fisher equation

{\displaystyle 1+i=(1+r)(1+\pi _{e})}1+i=(1+r)(1+\pi _{e})

where

i = nominal interest rate;
r = real interest rate;
{\displaystyle \pi _{e}}\pi _{e} = expected inflation rate.

For example, if somebody lends $1000 for a year at 10%, and receives $1100 back at the end of the year, this represents a 10% increase in her purchasing power if prices for the average goods and services that she buys are unchanged from what they were at the beginning of the year. However, if the prices of the food, clothing, housing, and other things that she wishes to purchase have increased 25% over this period, she has in fact suffered a real loss of about 15% in her purchasing power. (Notice that the approximation here is a bit rough; since 1.1/1.25 = 0.88 = 1 – 0.12, the actual loss of purchasing power is exactly 12%.

Variations in inflation

The inflation rate will not be known in advance. People often base their expectation of future inflation on an average of inflation rates in the past, but this gives rise to errors. The real interest rate ex-post may turn out to be quite different from the real interest rate (ex-ante real interest rate) that was expected in advance. Borrowers hope to repay in cheaper money in the future, while lenders hope to collect on more expensive money. When inflation and currency risks are underestimated by lenders, then they will suffer a net reduction in buying power.

The complexity increases for bonds issued for a long term, where the average inflation rate over the term of the loan may be subject to a great deal of uncertainty. In response to this, many governments have issued real return bonds, also known as inflation-indexed bonds, in which the principal value and coupon rises each year with the rate of inflation, with the result that the interest rate on the bond approximates a real interest rate. (E.g., the three-month indexation lag of TIPS can result in a divergence of as much as 0.042% from the real interest rate, according to research by Grishchenko and Huang.[3]) In the US, Treasury Inflation Protected Securities (TIPS) are issued by the US Treasury.

The expected real interest rate can vary considerably from year to year. The real interest rate on short term loans is strongly influenced by the monetary policy of central banks. The real interest rate on longer term bonds tends to be more market driven, and in recent decades, with globalized financial markets, the real interest rates in the industrialized countries have become increasingly correlated. Real interest rates have been low by historical standards since 2000, due to a combination of factors, including relatively weak demand for loans by corporations, plus strong savings in newly industrializing countries in Asia. The latter has offset the large borrowing demands by the US Federal Government, which might otherwise have put more upward pressure on real interest rates.

Related is the concept of “risk return”, which is the rate of return minus the risks as measured against the safest (least-risky) investment available. Thus if a loan is made at 15% with an inflation rate of 5% and 10% in risks associated with default or problems repaying, then the “risk adjusted” rate of return on the investment is 0%.

Importance in economic theory

Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule

The amount of physical investment—in particular the purchasing of new machines and other productive capacity—that firms engage in depends on the level of real interest rates, because such purchases typically must be financed by issuing new bonds. If real interest rates are high, the cost of borrowing may exceed the real physical return of some potentially purchased machines (in the form of output produced); in that case those machines will not be purchased. Lower real interest rates would make it profitable to borrow to finance the purchasing of a greater number of machines.

The real interest rate is used in various economic theories to explain such phenomena as the capital flightbusiness cycle and economic bubbles. When the real rate of interest is high, that is, demand for credit is high, then money will, all other things being equal, move from consumption to savings. Conversely, when the real rate of interest is low, demand will move from savings to investment and consumption. Different economic theories, beginning with the work of Knut Wicksell have had different explanations of the effect of rising and falling real interest rates. Thus, international capital moves to markets that offer higher real rates of interest from markets that offer low or negative real rates of interest triggering speculation in equities, estates and exchange rates.

Real federal funds rate

In setting monetary policy, the U.S. Federal Reserve (and other central banks) establish an interest rate at which they lend to banks. This is the federal funds rate. By setting this rate low, they can encourage borrowing and thus economic activity; or the reverse by raising the rate. Like any interest rate, there are a nominal and a real value defined as described above. Further, there is a concept called the “equilibrium real federal funds rate” (r*), alternatively called the “natural rate of interest” or the “neutral real rate”, which is the “level of the real federal funds rate, if allowed to prevail for several years, [that] would place economic activity at its potential and keep inflation low and stable.” There are various methods used to estimate this amount, using tools such as the Taylor Rule. It is possible for this rate to be negative.[4]

Negative real interest rates

The real interest rate solved from the Fisher equation is

{\displaystyle {\frac {1+i}{1+\pi }}-1=r}{\frac {1+i}{1+\pi }}-1=r

If there is a negative real interest rate, it means that the inflation rate is greater than the nominal interest rate. If the Federal funds rate is 2% and the inflation rate is 10%, then the borrower would gain 7.27% of every dollar borrowed per year.

{\displaystyle {\frac {1+0.02}{1+0.1}}-1=-0.0727}{\frac {1+0.02}{1+0.1}}-1=-0.0727

Negative real interest rates are an important factor in government fiscal policy. Since 2010, the U.S. Treasury has been obtaining negative real interest rates on government debt, meaning the inflation rate is greater than the interest rate paid on the debt.[5] Such low rates, outpaced by the inflation rate, occur when the market believes that there are no alternatives with sufficiently low risk, or when popular institutional investments such as insurance companies, pensions, or bond, money market, and balanced mutual funds are required or choose to invest sufficiently large sums in Treasury securities to hedge against risk.[6][7]Lawrence Summers stated that at such low rates, government debt borrowing saves taxpayer money, and improves creditworthiness.[8][9] In the late 1940s through the early 1970s, the US and UK both reduced their debt burden by about 30% to 40% of GDP per decade by taking advantage of negative real interest rates, but there is no guarantee that government debt rates will continue to stay so low.[6][10] Between 1946 and 1974, the US debt-to-GDP ratio fell from 121% to 32% even though there were surpluses in only eight of those years which were much smaller than the deficits.[11]

See also

References

  1. Jump up^ https://docs.google.com/fileview?id=0B_Qxj5U7eaJTZTJkODYzN2ItZjE3Yy00Y2M0LTk2ZmUtZGU0NzA3NGI4Y2Y5&hl=en&pli=1 page 24
  2. Jump up^ “FRB: Speech with Slideshow–Bernanke, Long-Term Interest Rates–March 1, 2013”http://www.federalreserve.gov. Retrieved 2017-03-07.
  3. Jump up^ Grishchenko, Olesya V.; Jing-zhi Huang (June 2012). “Inflation Risk Premium: Evidence from the TIPS Market” (PDF). Finance and Economics Discussion Series. Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Retrieved 26 May 2013.
  4. Jump up^ U.S. Federal Reserve-Remarks by Vice Chairman Roger W. Ferguson Jr. October 29, 2004
  5. Jump up^ Saint Louis Federal Reserve (2012) “5-Year Treasury Inflation-Indexed Security, Constant Maturity” FRED Economic Data chart from government debt auctions (the x-axis at y=0 represents the inflation rate over the life of the security)
  6. Jump up to:a b Carmen M. Reinhart and M. Belen Sbrancia (March 2011) “The Liquidation of Government Debt” National Bureau of Economic Research working paper No. 16893
  7. Jump up^ David Wessel (August 8, 2012) “When Interest Rates Turn Upside Down” Wall Street Journal (full text)
  8. Jump up^ Lawrence Summers (June 3, 2012) “Breaking the negative feedback loop” Reuters
  9. Jump up^ Matthew Yglesias (May 30, 2012) “Why Are We Collecting Taxes?” Slate
  10. Jump up^ William H. Gross (May 2, 2011) “The Caine Mutiny (Part 2)”PIMCO Investment Outlook
  11. Jump up^ “Why the U.S. Government Never, Ever Has to Pay Back All Its Debt” The Atlantic, February 1, 2013

External links

https://en.wikipedia.org/wiki/Real_interest_rate

John B. Taylor

From Wikipedia, the free encyclopedia
John Taylor
JohnBTaylor.jpg
Personal details
Born John Brian Taylor
December 8, 1946 (age 70)
Yonkers, New YorkU.S.
Political party Republican
Education Princeton University (BA)
Stanford University (PhD)
Academic career
Field Monetary economics
School or
tradition
New Keynesian economics
Doctoral
advisor
Theodore Wilbur Anderson[1]
Doctoral
students
Lawrence J. Christiano
Influences Milton Friedman
Paul Volcker
E. Philip Howrey
Alan Greenspan
Contributions Taylor rule
Information at IDEAS / RePEc

John Brian Taylor (born December 8, 1946) is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University’s Hoover Institution.[2]

Born in Yonkers, New York, he graduated from Shady Side Academy[3] and earned his A.B. from Princeton University in 1968 and Ph.D. from Stanford in 1973, both in economics. He taught at Columbia University from 1973–1980 and the Woodrow Wilson School and Economics Department of Princeton University from 1980–1984 before returning to Stanford. He has received several teaching prizes and teaches Stanford’s introductory economics course as well as Ph.D. courses in monetary economics.[4]

In research published in 1979 and 1980 he developed a model of price and wage setting—called the staggered contract model—which served as an underpinning of a new class of empirical models with rational expectations and sticky prices—sometimes called new Keynesian models.[5][6] In a 1993 paper he proposed the Taylor rule,[7] intended as a recommendation about how nominal interest rates should be determined, which then became a rough summary of how central banks actually do set them. He has been active in public policy, serving as the Under Secretary of the Treasury for International Affairs during the first term of the George W. Bush Administration. His book Global Financial Warriors chronicles this period.[8] He was a member of the President’s Council of Economic Advisors during the George H. W. Bush Administration and Senior Economist at the Council of Economic Advisors during the Ford and Carter Administrations.

In 2012 he was included in the 50 Most Influential list of Bloomberg Markets Magazine. Thomson Reuters lists Taylor among the ‘citation laureates‘ who are likely future winners of the Nobel Prize in Economics.[9]

Academic contributions

Taylor’s research—including the staggered contract model, the Taylor rule, and the construction of a policy tradeoff (Taylor) curve[10] employing empirical rational expectations models[11]—has had a major impact on economic theory and policy.[12] Former Federal Reserve Chairman Ben Bernanke has said that Taylor’s “influence on monetary theory and policy has been profound,”[13] and Federal Reserve Chair Janet Yellen has noted that Taylor’s work “has affected the way policymakers and economists analyze the economy and approach monetary policy.”[14]

Taylor contributed to the development of mathematical methods for solving macroeconomic models under the assumption of rational expectations, including in a 1975 Journal of Political Economy paper, in which he showed how gradual learning could be incorporated in models with rational expectations;[15] a 1979 Econometrica paper in which he presented one of the first econometric models with overlapping price setting and rational expectations,[16] which he later expanded into a large multicountry model in a 1993 book Macroeconomic Policy in a World Economy,[11] and a 1983 Econometrica paper,[17] in which he developed with Ray Fair the first algorithm to solve large-scale dynamic stochastic general equilibrium models which became part of popular solution programs such as Dynare and EViews.[18]

In 1977, Taylor and Edmund Phelps, simultaneously with Stanley Fischer, showed that monetary policy is useful for stabilizing the economy if prices or wages are sticky, even when all workers and firms have rational expectations.[19] This demonstrated that some of the earlier insights of Keynesian economics remained true under rational expectations. This was important because Thomas Sargent and Neil Wallace had argued that rational expectations would make macroeconomic policy useless for stabilization;[20] the results of Taylor, Phelps, and Fischer showed that Sargent and Wallace’s crucial assumption was not rational expectations, but perfectly flexible prices.[21] These research projects together could considerably deepen our understanding of the limits of the policy-ineffectiveness proposition.[22]

Taylor then developed the staggered contract model of overlapping wage and price setting, which became one of the building blocks of the New Keynesian macroeconomics that rebuilt much of the traditional macromodel on rational expectations microfoundations.[23][24]

Taylor’s research on monetary policy rules traces back to his undergraduate studies at Princeton.[25][26] He went on in the 1970s and 1980s to explore what types of monetary policy rules would most effectively reduce the social costs of inflation and business cycle fluctuations: should central banks try to control the money supply, the price level, or the interest rate; and should these instruments react to changes in output, unemployment, asset prices, or inflation rates? He showed[27] that there was a tradeoff—later called the Taylor curve[28]—between the volatility of inflation and that of output. Taylor’s 1993 paper in the Carnegie-Rochester Conference Series on Public Policy proposed that a simple and effective central bank policy would manipulate short-term interest rates, raising rates to cool the economy whenever inflation or output growth becomes excessive, and lowering rates when either one falls too low.[7] Taylor’s interest rate equation has come to be known as the Taylor rule, and it is now widely accepted as an effective formula for monetary decision making.[29]

A key stipulation of the Taylor rule, sometimes called the Taylor principle,[30] is that the nominal interest rate should increase by more than one percentage point for each one-percent rise in inflation. Some empirical estimates indicate that many central banks today act approximately as the Taylor rule prescribes, but violated the Taylor principle during the inflationary spiral of the 1970s.[31]

Recent research

Taylor’s recent research has been on the financial crisis that began in 2007 and the world economic recession. He finds that the crisis was primarily caused by flawed macroeconomic policies from the U.S. government and other governments. Particularly, he focuses on the Federal Reserve which, under Alan Greenspan, a personal friend of Taylor, created “monetary excesses” in which interest rates were kept too low for too long, which then directly led to the housing boom in his opinion.[32] He also believes that Freddie Mac and Fannie Mae spurred on the boom and that the crisis was misdiagnosed as a liquidity rather than a credit risk problem.[33] He wrote that, “government actions and interventions, not any inherent failure or instability of the private economy, caused, prolonged, and worsen the crisis.”[34]

Taylor’s research has also examined the impact of fiscal policy in the recent recession. In November 2008, writing for The Wall Street Journal opinion section, he recommended four measures to fight the economic downturn: (a) permanently keeping all income tax ratesthe same, (b) permanently creating a worker’s tax credit equal to 6.2 percent of wages up to $8,000, (c) incorporating “automatic stabilizers” as part of overall fiscal plans, and (d) enacting a short-term stimulus plan that also meets long term objectives against waste and inefficiency. He stated that merely temporary tax cuts would not serve as a good policy tool.[35] His research[36] with John Cogan, Tobias Cwik, and Volcker Wieland showed that the multiplier is much smaller in new Keynesian than in old Keynesian models, a result that was confirmed by researchers at central banks.[37] He evaluated the 2008 and 2009 stimulus packages and argued that they were not effective in stimulating the economy.[38]

In a June 2011 interview on Bloomberg Television, Taylor stressed the importance of long term fiscal reform that sets the U.S. federal budget on a path towards being balanced. He cautioned that the Fed should move away from quantitative easing measures and keep to a more static, stable monetary policy. He also criticized fellow economist Paul Krugman‘s advocacy of additional stimulus programs from Congress, which Taylor said will not help in the long run.[39] In his 2012 book First Principles: Five Keys to Restoring America’s Prosperity, he endeavors to explain why these reforms are part of a broader set of principles of economic freedom.

Selected publications

Reprinted in Taylor, John B. (1991), “Staggered wage setting in a macro model”, in Mankiw, N. Gregory; Romer, David, New Keynesian economics, volume 1, Cambridge, Massachusetts: MIT Press, pp. 233–42, ISBN 9780262631334.
  • Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”. EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  • Taylor, John B. (December 1980). “Scale economies, product differentiation, and the pattern of trade”. The American Economic ReviewAmerican Economic Association70 (5): 950–59. JSTOR 1805774. Pdf.
  • Taylor, John B. (1986), ‘New econometric approaches to stabilization policy in stochastic models of macroeconomic fluctuations’. Ch. 34 of Handbook of Econometrics, vol. 3, Z. Griliches and M.D. Intriligator, eds. Elsevier Science Publishers.
  • Taylor, John B. (December 1993). “Discretion versus policy rules in practice”Carnegie-Rochester Conference Series on Public PolicyElsevier39: 195–214. doi:10.1016/0167-2231(93)90009-L. Pdf.
  • Taylor, John B. (1999), “An historical analysis of monetary policy rules”, in Taylor, John B., Monetary policy rules, Chicago: University of Chicago Press, ISBN 9780226791265.
  • Taylor, John B. (2007). Global financial warriors: the untold story of international finance in the post-9/11 world. New York: W.W. Norton. ISBN 9780393064483.
  • Taylor, John B. (2008), “Housing and monetary policy”, in Reserve Bank of Kansas City, Housing, housing finance, and monetary policy: a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 30-September 1, 2007, Kansas City, Missouri: Reserve Bank of Kansas City, pp. 463–76, OCLC 170267547
  • Taylor, John B. (2009), “The financial crisis and the policy response: an empirical analysis of what went wrong”, in Bank of Canada Staff, Festschrift in honour of David Dodge’s contributions to Canadian public policy: proceedings of a conference held by the Bank of Canada, November, 2008, Ottawa: Bank of Canada, pp. 1–18, ISBN 9780660199276.
  • Taylor, John B. (2009). Getting off track: how government actions and interventions caused, prolonged, and worsened the financial crisis. Stanford, California: Hoover Institution Press. ISBN 9780817949716.
  • Taylor, John B.; Shultz, George P.; Scott, Kenneth, eds. (2009). Ending government bailouts as we know them. Stanford, California: Hoover Institution Press. ISBN 9780817911287.
  • Taylor, John B.; Ryan, Paul D. (30 November 2010). “Refocus the Fed on price stability instead of bailing out fiscal policy”Investor’s Business Daily. Archived from the original on 13 April 2011.
  • Taylor, John B. (2012). First principles: five keys to restoring America’s prosperity. New York: W.W. Norton. ISBN 9780393345452.

See also

Further reading

References

  1. Jump up^ Taylor, John B. (September 24, 2016). “The Statistical Analysis of Policy Rules”economicsone.com. Economics One (A blog by John B. Taylor). Retrieved October 2, 2016.
  2. Jump up^ “Hoover Institution Senior Fellow: Biography”Hoover Institution. Retrieved 27 October 2011.
  3. Jump up^ “Notable alumni”shadysideacademy.orgShady Side Academy.
  4. Jump up^ Taylor, John B. “Curriculum vitae” (pdf). Stanford University.
  5. Jump up^ Taylor, John B. (May 1979). “Staggered wage setting in a macro model”. The American Economic ReviewAmerican Economic Association69 (2): 108–113. JSTOR 1801626.
    Reprinted in Taylor, John B. (1991), “Staggered wage setting in a macro model”, in Mankiw, N. Gregory; Romer, David, New Keynesian economics, volume 1, Cambridge, Massachusetts: MIT Press, pp. 233–242, ISBN 9780262631334.
  6. Jump up^ Taylor, John B. (February 1980). “Aggregate dynamics and staggered contracts”Journal of Political EconomyChicago Journals88 (1): 1–23. JSTOR 1830957doi:10.1086/260845.
  7. Jump up to:a b Taylor, John B. (December 1993). “Discretion versus policy rules in practice”Carnegie-Rochester Conference Series on Public PolicyElsevier39: 195–214. doi:10.1016/0167-2231(93)90009-L. Pdf.
  8. Jump up^ Taylor, John B. (2007). Global financial warriors: the untold story of international finance in the post-9/11 world. New York: W.W. Norton. ISBN 9780393064483.
  9. Jump up^ “Hall of ‘citation laureates’ (in economics)”science.thomsonreuters.com. Thomson-Reuters.
  10. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962. Pdf.
    Reprinted in Taylor, John B. (1981), “Estimation and control of a macroeconomic model with rational expectations”, in Lucas, Jr., Robert E.; Sargent, Thomas J., Rational expectations and econometric practice, Minneapolis: University of Minnesota Press, ISBN 9780816610983.
  11. Jump up to:a b Taylor, John B. (1993). Macroeconomic policy in a world economy: from econometric design to practical operation. New York: W.W. Norton. ISBN 9780393963168.
  12. Jump up^ Ben Bernanke refers to the “three concepts named after John that are central to understanding our macroeconomic experience of the past three decades—the Taylor curve, the Taylor rule, and the Taylor principle.” in “Opening Remarks,” Conference on John Taylor’s Contributions to Monetary Theory and Policy
  13. Jump up^ Bernanke, Ben (2007). Opening Remarks. Remarks at the Conference on John Taylor’s Contributions to Monetary Theory and Policy.
  14. Jump up^ Yellen, Janet (2007). Policymaker Roundtable (PDF).Remarks at the Conference on John Taylor’s Contributions to Monetary Theory and Policy.
  15. Jump up^ Taylor, John B. (October 1975). “Monetary policy during a transition to rational expectations”Journal of Political EconomyChicago Journals83 (5): 1009–22. JSTOR 1830083doi:10.1086/260374.
  16. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”. EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  17. Jump up^ Taylor, John B.; Fair, Ray C. (July 1983). “Solution and maximum likelihood estimation of dynamic nonlinear rational expectations models”EconometricaWiley51 (4): 1169–85. JSTOR 1912057doi:10.2307/1912057.
  18. Jump up^ Judd, Kenneth; Kubler, Felix; Schmedders, Karl (2003), “Computational methods for dynamic equilibria with heterogeneous agents”, in Dewatripont, Mathias; Hansen, Lars Peter; Turnovsky, Stephen J., Advances in economics and econometrics theory and applications (volume 3), Cambridge, U.K. New York: Cambridge University Press, p. 247, ISBN 9781280163388 and “Eviews Users Guide II.”
  19. Jump up^ Taylor, John B.; Phelps, Edmund S. (February 1977). “Stabilizing powers of monetary policy under rational expectations”Journal of Political EconomyChicago Journals85 (1): 163–90. JSTOR 1828334doi:10.1086/260550.
  20. Jump up^ Sargent, Thomas; Wallace, Neil (April 1975). “‘Rational’ expectations, the optimal monetary instrument, and the optimal money supply rule”Journal of Political EconomyChicago Journals83 (2): 241–54. JSTOR 1830921doi:10.1086/260321.
  21. Jump up^ Blanchard, Olivier (2000), “Epliogue”, in Blanchard, Olivier, Macroeconomics (2nd ed.), Upper Saddle River, New Jersey: Prentice-Hall, p. 543, ISBN 9780130557872.
  22. Jump up^ Galbács, Peter (2015). The theory of new classical macroeconomics: a positive critique. Heidelberg / New York / Dordrecht / London: Springer. ISBN 9783319175782doi:10.1007/978-3-319-17578-2.
  23. Jump up^ King, Robert G.; Wolman, Alexander (1999), “What should the monetary authority do when prices are sticky?”, in Taylor, John B., Monetary policy rules, Chicago: University of Chicago Press, ISBN 9780226791265.
  24. Jump up^ Taylor, John B. (1999), “Staggered price and wage setting in macroeconomics”, in Taylor, John B.; Woodford, Michael, Handbook of macroeconomics, Amsterdam New York: North-Holland Elsevier, pp. 1009–50, ISBN 9780444501585.
  25. Jump up^ Taylor, John B. (April 1968). Fiscal and monetary stabilization policies in a model of endogenous cyclical growth (BA thesis). Princeton University.
  26. Jump up^ Taylor, John B. (October 1968). “Fiscal and monetary stabilization policies in a model of endogenous cyclical growth”(pdf). Research Memorandum No. 104. Econometric Research Program, Princeton University. OCLC 22687344.
  27. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  28. Jump up^ Bernanke, Ben (2004). The Great Moderation. Remarks at the meeting of the Eastern Economic Association.
  29. Jump up^ Orphanides, Athanasios (2007). Taylor rules (pdf). Finance and Economics Discussion Series 2007–18. Federal Reserve Board.
  30. Jump up^ Davig, Troy; Leeper, Eric M. (June 2007). “Generalizing the Taylor Principle”. The American Economic ReviewAmerican Economic Association97 (3): 607–35. JSTOR 30035014.NBER Working Paper 11874, December 2005.
  31. Jump up^ Clarida, Richard; Galí, Jordi; Gertler, Mark (February 2000). “Monetary policy rules and macroeconomic stability: evidence and some theory”Quarterly Journal of EconomicsOxford Journals115 (1): 147–80. doi:10.1162/003355300554692. Pdf.
  32. Jump up^ Taylor, John B. (2008), “Housing and monetary policy”, in Reserve Bank of Kansas City, Housing, housing finance, and monetary policy: a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 30-September 1, 2007, Kansas City, Missouri: Reserve Bank of Kansas City, pp. 463–76, OCLC 170267547
  33. Jump up^ Taylor, John B. (2009), “The financial crisis and the policy response: an empirical analysis of what went wrong (housing and monetary policy)”, in Bank of Canada Staff, Festschrift in honour of David Dodge’s contributions to Canadian public policy: proceedings of a conference held by the Bank of Canada, November, 2008, Ottawa: Bank of Canada, pp. 1–18, ISBN 9780660199276.
  34. Jump up^ Taylor, John B. (February 9, 2009). “How government created the financial crisis”The Wall Street Journal. p. A19. Pdf.
  35. Jump up^ Taylor, John B. (November 25, 2008). “Why permanent tax cuts are the best stimulus”The Wall Street Journal. Retrieved June 30, 2011.
  36. Jump up^ Taylor, John B.; Cogan, John F.; Cwik, Tobias; Wieland, Volker (March 2010). “New Keynesian versus old Keynesian government spending multipliers”Journal of Economic Dynamics and ControlElsevier34 (3): 281–95. doi:10.1016/j.jedc.2010.01.010.
  37. Jump up^ Coenen, Guenter; et al. (September 2011). “Effects of fiscal stimulus in structural models”American Economic Journal: MicroeconomicsAmerican Economic Association4 (1): 22–68. doi:10.1257/mac.4.1.22. Pdf.
  38. Jump up^ Taylor, John B. (September 2011). “An empirical analysis of the revival of fiscal activism in the 2000s”Journal of Economic LiteratureAmerican Economic Association49 (3): 686–702. JSTOR 23071727doi:10.1257/jel.49.3.686. Pdf.
  39. Jump up^ “Taylor Says U.S. Needs `Sound’ Monetary, Fiscal Policies”Bloomberg Television thru Washington Post. June 27, 2011. Retrieved June 30, 2011.

External links

 

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 993

Listen To Pronk Pops Podcast or Download Shows 984-992

Listen To Pronk Pops Podcast or Download Shows 977-983

Listen To Pronk Pops Podcast or Download Shows 970-976

Listen To Pronk Pops Podcast or Download Shows 963-969

Listen To Pronk Pops Podcast or Download Shows 955-962

Listen To Pronk Pops Podcast or Download Shows 946-954

Listen To Pronk Pops Podcast or Download Shows 938-945

Listen To Pronk Pops Podcast or Download Shows 926-937

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows 151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

Advertisements

Make a Comment

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: