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federal_reserve

The Federal Reserve (Photo: REUTERS)

Developing: Minutes from the meeting of the Federal Reserve’s policy-making committee in September reveal how central bankers remain cautious regarding the prospect of raising interest rates, ending the massive printing of money and returning to normal, fiscal monetary policy.

Policy-making committee members view the U.S. economy as expanding at a moderate pace in the third quarter, or “somewhat better than expected.” However, the committee members found no consensus on the durability of the labor market, citing the “slack” remaining and the very same concerns outlined in PPD’s coverage of the September jobs report.

The policy-making committee also said it plans to raise its target interest rate sometime next year, but disagreement continued over the timing and trajectory. Inflation “hawks” argue that keeping rates low will invite runaway inflation and lead to asset bubbles.

Though the BLS report showed wages are still far too low, Yellen and others say wage growth must be modest due to the risks of inflationary pressure. When wages rise too quickly it can lead to runaway inflation, which becomes a vicious economic cycle. It will move on corporate profits eventually, and the cost of production thus final sale of goods will increase, quickly eroding the realized gains in Americans’ purchasing power.

Inflation “doves” argue that when rates increase it will increase borrowing costs for consumers, making it more expensive to get a mortgage or a car loan, or for small businesses to get a loan for expansion. On the other hand, hawks point to the fact that these economic events will happen regardless of the Fed’s policy, noting that increased rates will also raise the cost of borrowing for the government, which will soon find itself holding an unsustainable amount of debt if increases are not done slowly while progress is closely scrutinized.

Each worst-case scenario ends up hurting the worker the most, suggesting two positions that are falling woefully short of replacing shady monetary policy with sound regulatory and economic policies that would lead to more broad-based wealth creation.

Minutes from the FOMC in September reveal

Leftist academic Marc Lamont Hill criticized Bill Maher and Sam Harris, calling the two noted liberal atheists racist for questioning the correlation between violence and Islam.

“When he [actor Sam Harris] says that Islam is the mother lode of bad ideas, that is horrific; it is offensive; and, as Ben [Affleck] said…quite frankly, it’s racist.” Hill claimed that “Islam is not uniquely violent or primarily violent or any more prone to violence than any other religion.”

CNN Anchor Don Lemon recently explored the possibility that Islam was inherently violent. He noted that Maher and Harris were also “arguing about whether liberals have failed when discussing the treatment of women; the treatment of gays in the Muslim world.” They asked, “have liberals failed?” on those topics.

Lamont responded by saying that “there are plenty of liberal bigots” out there, but insisted that the number of Muslims who sympathized with terrorists and extremist views were “infinitesimal” compared to 1 billion-plus Muslims in the world.

However, Lemon confronted Hill with the results of large Pew Research survey of Muslims from around the globe, a survey that PPD examined in response to comments made by comedian Dean Obeidallah, who back in October of 2013 called Sen. Rand Paul (R-KY) a racist for saying there was a war on Christianity in the Middle East.

“There is a Pew poll among Muslims about sharia law and what sharia law means,” Lemon said. “It says that the percentage who favor the death penalty for converts – the majority of Malaysia, Afghanistan, Pakistan, Egypt, Jordan, Palestinian territory. Many other countries don’t have a majority, but they still have a large number. And so, if you look at that, it may not be the majority of Muslims, but that’s millions and millions of people. Is that a problem with religion in general, or just with Islam, Marc?”

With that Ivy League education Mr. Hill touts, Mr. Lemon expected him to have an intellectual response. But, instead, Hill made a fool of himself, rattling off talking points that painfully demonstrated what is either his shocking ability to be dishonest, or blatant ignorance to the practice of a religion in a specific region of the world that is inherently violent.

Leftist academic Marc Lamont Hill criticized Bill

texas liberians ebola

Pedestrians walk outside Texas Health Presbyterian Hospital in Dallas, Tuesday, Sept. 30, 2014. A patient in the hospital is showing signs of the Ebola virus and is being kept in strict isolation with test results pending, hospital officials said Monday. (AP Photo/LM Otero)

The Health Presbyterian Hospital has confirmed Texas Ebola patient Thomas Eric Duncan, a Liberian national, died Wednesday.

According to a hospital statement, Duncan died at 7:51 a.m. on Wednesday morning despite receiving the experimental serum that showed promise in past patients.

“Mr. Duncan succumbed to an insidious disease, Ebola. He fought courageously in this battle. Our professionals, the doctors and nurses in the unit, as well as the entire Texas Health Presbyterian Hospital Dallas community, are also grieving his passing. We have offered the family our support and condolences at this difficult time,” the statement read.

Duncan was the first person diagnosed with the deadly virus on U.S. soil, and had been given the experimental medication brincidofovir. A hospital in Nebraska said it is using the same drug to treat an American journalist who was airlifted from Liberia and arrived Monday.

He had been in critical condition and on a ventilator and a kidney dialysis before his death.

Duncan had been in isolation since Sept. 28.

Texas state health officials said they are monitoring 10 people who had close contact with Duncan and 38 others who came into contact with that group to see if anyone had developed signs of infection. So far, no one has shown any symptoms, health officials said.

Texas Ebola patient Thomas Eric Duncan, a

same-sex marriage gay marriageWASHINGTON – Supreme Court Justice Anthony Kennedy has temporarily blocked an appeals court ruling that declared gay marriage legal in Idaho and Nevada.

The order came minutes after Idaho on Wednesday filed an emergency request for an immediate stay, and just one day after the court effectively legalized same-sex marriage in 30 other states. The state’s request said that without a stay, state and county officials would have been required to begin issuing marriage licenses to same-sex couples at 10 a.m. EDT.

The 9th U.S. Circuit Court of Appeals declared gay marriage legal in Idaho and Nevada on Tuesday.

Kennedy’s order requested a response from the plaintiffs involved in Idaho’s gay marriage lawsuit by the end of day Thursday.

Supreme Court Justice Anthony Kennedy has temporarily

oreiily_factor_leon_panetta_interview

Oct. 07, 2014 – 5:16 – Former Secretary of Defense and CIA chief, Leon Panetta, discusses the rise of ISSI and the Benghazi terror attack on The Factor with Bill O’Reilly. (Photo: FOX News)

Former Secretary of Defense and CIA chief, Leon Panetta, discusses the rise of ISSI and the Benghazi terror attack on The Factor with Bill O’Reilly.

Part 1

Part 2

Former Secretary of Defense and CIA chief,

tillis_hagan_nc_senate_debate

Sen. Kay Hagan, left, D-N.C., and North Carolina Republican Senate candidate Thom Tillis greet prior to a live televised debate at UNC-TV studios in Research Triangle Park, N.C., Tuesday, Oct. 7, 2014. (Photo: GERRY BROOME/AP)

Democratic Sen. Kay Hagan and Republican challenger Thom Tillis met for their second debate at the University of North Carolina Television studios. The issues debated were widespread, including the spread of the Ebola virus to the rise of the threat from the Islamic State in Iraq and Syria.

No less than ten times did Tillis mention that Hagan — a first-term senator who has yet to sponsor a single bill — voted with Obama 96 percent of the time. President Obama’s approval rating in the state is an average 38.7 percent, with the vast number of undecided voters disapproving of the president’s performance.

On the threat from ISIS, Hagan said Tillis is “spineless on what he would do to take ISIS out.” Tillis, who has been ramping up his attacks against Hagan for supporting Obama’s ill-fated plan to remove U.S. troops from Iraq too quickly, fired back with a criticism heard from most military experts.

“They left and created a vacuum in Iraq and the ISIS terrorists filled it,” he said.

Tillis also hammered Hagan on ObamaCare, noting that she promised the people of North Carolina 24 times that they could keep their health care and doctors if they chose to under the law. However, as has been widely reported, that was simply not true. With the administration unilaterally delaying implementation of the law, the people of the state and the country have yet to realize the full impact of the law.

According to a study from PPD, 145 million Americans had coverage that did not meet the Essential Health Benefit Standards outlined in the bill before it was passed.

Though ObamaCare dominated the first half of the cycle, it is now the deadly Ebola virus making headlines in health related issues. ABC News anchor George Stephanopoulos, who moderated the debate, brought up the fact Tillis recently called for a travel ban to West African countries in response to containing the Ebola disease threat. Then, he cited the Centers for Disease Control and Prevention director, who has said that plan would be counterproductive.

“I know the CDC is working hard,” Tillis said. “I don’t know that they’re working smart.”

Most Americans disagree with the CDC director and the majority of Democrats who back Obama’s plan. Tillis said a travel ban would give experts time to make sure the disease doesn’t spread further.

“Until the CDC can convince me we’re able to intervene … then we’ve got to prevent them from traveling there,” he added.

On the issue of gay marriage, Tillis defended the plan by him and Senate leader Phil Berger support the voters of North Carolina, who recently and overwhelmingly approved a constitutional amendment that banned gay marriage.

“I feel it’s my responsibility, after 60 percent of the people voted that into law, to defend the laws of the state,” Tillis said.

The Supreme Court Tuesday&nbsp declined to consider gay marriage cases in several states.

On Thursday, Libertarian Sean Haugh will participate with Hagan and Tillis in the third and last general election debate at the WECT-TV studios in Wilmington, North Carolina. The North Carolina Senate race is currently rated a “Toss-UP” by PPD’s 2014 Senate Map Predictions model.

Democratic Sen. Kay Hagan and Republican challenger

Democratic Sen. Mark Udall and Republican Rep. Cory Gardner spent most of the Colorado Senate debate “dodging questions and blurring each other’s record,” as the Denver Post put it. For the vulnerable Udall, it was another chance to tie Gardner to a host of attacks aimed to earn back women’s support, while Garnder used the floor to remind voters that Udall has voted to support President Obama 99 percent of the time.

“It’s simply outrageous to believe that someone would try to ban birth control,” Gardner said to blunt the attack on women’s issues. Meanwhile, Udall said he just wanted “to remind Congressman Gardner he’s running against me, not Barack Obama, not my father, not Harry Reid.”

The body language dynamic between the two candidates was noteworthy. Udall made an effort to point at Gardner during his attacks, but he refused to turn his head to look at his challenger, making the effort to seem aggressive appear half-hearted and unnatural. On the other hand, Gardner was more dominant, seemingly unafraid of his opponent as he faced him directly in his attack delivery.

The dynamic the Colorado Senate race has changed dramatically since the National Journal released a May, 2013, article entitled, “Colorado’s Forgotten Senate Race.” Since the disastrous rollout of ObamaCare, Colorado voters have consistently reported low approval ratings for incumbent Sen. Mark Udall, as well as President Obama.

Gardner is only a 56 percent favorite, but that was just enough to put this race into the “Leans Republican” corner for the first time this cycle in September.

Democratic Sen. Mark Udall and Republican Rep.

Louisiana Governor Bobby Jindal presented a plan to rebuild America’s military strength and reaffirm the United States as a force for freedom and stability around the world. The potential 2016 presidential contender spoke to the American Enterprise Institute Monday as terrorist groups are destabilizing the Middle East and North Africa, Iraq is on the brink of becoming a failed state, and Russian forces attempt to destroy a pro-West government in Ukraine.

FULL TRANSCRIPT

GOV. BOBBY JINDAL (R-LA): As we draw to the close of the politically relevant portion of the Obama presidency – the years in which the president had the power to get anything done, and the interest in doing it – we are at a point where we can assess the nation and the world that President Obama is leaving us.

Much of the recent media coverage of the Obama presidency has focused on the frustrations of the president with the political process.

Time and again, he turns to the Third Person to explain the ineffectiveness of his leadership.

It is always “they” who stand against his noble aims to help the people, “they” who botched Obamacare, “they” who underestimated the threats of ISIS. For this president, there’s always someone else to blame.

For all that has been written about President Obama’s negative impact on American businesses, I’ll give him this: No president has done so much for the straw men industry.

Every day he sets one on fire. Whatever you want to say about his golf game, the guy knows how to use a flamethrower.

But I would argue that this blaming of the Third Person is actually wrong.

Because for the most part, we actually live in the America that President Obama wanted to create.

We live in the country and in the world that progressives wanted.

Where we are didn’t happen by accident. It didn’t happen because President Obama was frustrated by the political process.

It happened because, as Richard Weaver told us, “ideas have consequences.”

And what does an America governed under those ideas look like?

On the domestic front, we are a nation faltering slowly through a lackluster recovery, one that has been marked by profits gathered by the powerful and well-connected, and stagnant wages and dimmed prospects for those of us who are not.

It is a nation with effectively a cradle to grave welfare state, with a federal government that bribes the states with taxpayer dollars – borrowed from China our kids will have to repay – to grow entitlement programs for childless able-bodied adults which trap them in a lifetime of disincentives for success.

It is a nation marked by exhaustion and discouragement and fear, where wealth and power are centralized in an immense and out of control federal government.

It is a nation where the people feel they no longer have a voice, where the massive and cronyist administrative state seeks to control almost every aspect of our lives.

It is a nation of backroom deals where regulators run the show and those who play ball get bailouts.

Louisiana Governor Bobby Jindal presented a plan

ISIS fighter in Iraq

An ISIS fighter stands guard at a checkpoint captured from the Iraqi army near the oil refinery at Baiji, where government troops are trying to oust the insurgents. (Photo: Associated Press)

Despite weeks of airstrikes from the U.S.-led coalition, Islamic State fighters are continuing to enjoy battlefield successes in both Iraq and Syria and are expanding territory under caliphate control. Military experts predicted the strategy “to degrade and ultimately destroy” the Islamic State, otherwise known as ISIS or ISIL, would not work and recent developments are proving those predictions true.

In Syria, ISIS fighters are close to capturing the Syrian town of Kobani, located near the Turkish border. Strategically, the fall of Kobani would be a military disaster for the U.S.-led coalition, and would be the most serious setback for Kurdish forces since the start of the campaign last month.

“Air strikes alone are really not enough to defeat ISIS,” said Idris Nassan, a senior spokesman for the Kurdish Peshmerga. The Kurds have been trying to defend against the ISIS advance. Roughly a week ago, Nassan and others made a desperate plea to the media, asking that reporters tell the world that airstrikes alone are not going to stop the inevitable massacre of the nearly 400,000 residents and refugees who are trapped within the city limits.

“Tell the world what is happening” said Rooz Bahjat, a senior Kurdish military officer. “This could be a massacre if no help arrives.”

Kobani would give ISIS control of a large territory of land bordering Turkey and eliminate a strategically vital flank of Kurdish resistance. It would also provide a link between the group’s territory near the ancient Syrian city of Aleppo and its largest operations base at Raqqa, which is located in northeastern Syria.

“They are besieging the city on three sides, Nassan said. “Fighter jets simply cannot hit each and every ISIS fighter on the ground.”

Warplanes believed to be part of the U.S.-led coalition hit militant positions Tuesday as journalists on the Turkish side of the border heard the sound of jets before two large plumes of smoke billowed from ground just west of Kobani. However, a Fox News crew on the Turkish side of the border reported just one U.S. airstrike in the previous five days of heavy fighting. In responding to PPD’s inquiry regarding the thinning bombing campaign, Pentagon officials tried to assure us that militants are targeted every chance they get.

“They, not surprisingly, have gotten better at concealment,” said Navy Rear Admiral John Kirby, a spokesman for the Pentagon. “Before the airstrikes happened, they pretty much had free reign. They don’t have that free reign anymore, because they know we’re watching from the air.”

The Wall Street Journal reported that ISIS forces have already entered the outskirts of the eastern part of the city on Monday. In the previous three weeks, ISIS has taken more than 300 surrounding Syrian Kurdish villages. The Journal also reported that the militants raised their black flag on top of a civilian apartment building and on a hilltop near a checkpoint at the city’s eastern entrance. According to the Associate Press, the black caliphate flag could be seen over the checkpoint by reporters positioned across the border in Turkey.

A report from the Britain-based Syrian Observatory for Human Rights claimed the Kurds forced ISIS to retreat from the eastern part of the town after heavy fighting after midnight Tuesday. However, a local Kurdish militia commander claimed that ISIS fighters were still a mile from the city center, and Reuters has reported that ISIS had taken control of several government buildings in the southwest part of the city.

“Each time a jet approaches, they scatter and hide,” Nassan said of the five attempts by warplanes to use airstrikes to drive the ISIS assault back.. “What we really need is ground support. We need heavy weapons and ammunition in order to fend them off and defeat them.”

In Iraq, the situation on the ground is also deteriorating.

The Institute for the Study of War, which regularly publishes a map titled “Control of Terrain in Iraq,”  is conrming that Hit is under ISIS control. They have placed a watch on Ramadi in light of unconfirmed reports on October 5 that the Iraqi Security Forces in Ramadi are leaving their posts and consolidating on their major base because ISIS has entered the city.

ISIS Control In Iraq

Credit: The Institute For The Study Of War

They have also confirmed that ISIS has taken the city of Hit in Anbar, though their main target remains Baghdad. The previously released August map showed the terror army in control of 14 Iraqi towns and the ever-important Mosul Dam. Even though coalition troops were able to regain control of the dam, the latest map confirmed the Islamic State is still in control of 13 towns. However, villages east of Mosul has moved from Islamic State controlled to “contested,” a small and insignificant improvement considering the U.S.-led airstrikes have been ongoing for more than two months.

Admiral Kirby would not commit to whether or not Iraqi forces could hold Baghdad if ISIS makes an all-out Tet Offensive-like assault. For now, the Shiite muslim population within the city may just be the best hope for the city against such an attack.

Meanwhile, in Kobani, the Kurdish Peshmerga do not such a fall back plan and time is running out.

“We are calling on the international community to help us defend Kobani,” said Nassan in what is now the second plea from a Kurdish commander. The pleas are taking their toll within Turkey, which has a large Kurdish minority population.

Turkish media reported that police in Istanbul and at least six other Turkish cities clashed with hundreds of demonstrators. The private Dogan news agency reported that clashes broke out in several Istanbul neighborhoods overnight. Protesters set up barricades, threw stones, fireworks and firebombs at police and even set a bus on fire. According to reports, one police officer was injured.

Police used tear gas and water cannon to disperse similar protests in the mostly Kurdish-populated cities of Diyarbakir, Batman, Van, Sirnak, Sanliurfa and Hakkari.

Despite weeks of bombing from the U.S.-led

Former Defense Secretary Leon Panetta has given a string of interviews amid the release of his upcoming memoir Worthy Fights, which have not been favorable to President Obama. In a few pages released in Time Magazine, Panetta said that President Obama’s failing to secure a 2011 deal that would’ve left U.S. troops in Iraq was a case of intentional sabotage, leaving the Iraqi people at the mercy of the Islamic State.

Panetta, who served as CIA director and defense secretary during the negotiations, also took to “60 Minutes” at the end of September to make the case against the president’s decisions in the region.

Now, in an interview with USA Today, Panetta said Obama has “lost his way” on the international stage.

“We are at a point where I think the jury is still out,” former Secretary of Defense Leon Panetta said of President Obama’s legacy in an interview with USA Today. “For the first four years, and the time I spent there, I thought he was a strong leader on security issues,” Panetta said. “But these last two years I think he kind of lost his way. You know, it’s been a mixed message, a little ambivalence in trying to approach these issues and try to clarify what the role of this country is all about.”

Panetta made clear in his memoir that he has no doubt that the politically motivated decision to pull out of Iraq far earlier than military advisors suggested is the cause of the current crisis.

“To this day, I believe that a small U.S. troop presence in Iraq could have effectively advised the Iraqi military on how to deal with al-Qaeda’s resurgence and the sectarian violence that has engulfed the country,” he wrote.

But going forward, Panetta says what he believes will ultimately determine the president’s legacy will be the decisions he makes during the remainder of his term. After the midterm elections are over in November, it is certainly true that Obama will not beholden to his leftist base, who would rather see him leave ISIS unharmed.

“He may have found himself again with regards to this ISIS crisis. I hope that’s the case. And if he’s willing to roll up his sleeves and engage with Congress in taking on some of these other issues, as I said I think he can establish a very strong legacy as president. I think these next 2 1/2 years will tell us an awful lot about what history has to say about the Obama administration,” Panetta said.

Former Defense Secretary Leon Panetta has given

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