Buried Headlines: August 8, 2012

As I've stated many times on this blog, the Federal Reserve's liquidity pumping is largely responsible for the nation's economic woes. The Fed promoted the speculation that led to the tech bubble bursting in 2000, the Fed blew up the mortgage bubble (which burst and plunged the economy into deep recession), and the Fed has prolonged our economic malaise by continuing to pump liquidity, which has prevented the "patient" from properly healing by delveraging and purging himself of malinvestment. Now, incredibly, the Fed has published a mea culpa of sorts: research that suggests its own organization is responsible for the Great Recession.

Fed Study Says Bush And The Banks Didn’t Cause The Great Recession. The Fed Did.

Thanks, Bernanke: Zero Return World Squeezes Retirement Plans

In other news:

43% Of U.S. Immigrants On Welfare After 20 years

Obama Blames State And Local Governments, Congress For 14.1 Percent Black Unemployment

Obama's Welfare-To-Work Firestorm

Protect The Cronies! Corporate Fraud Cases Often Spare Individuals 

Full-Time Jobs -228,000; Part-Time Jobs +31,000

Italy Sinks Deeper Into Recession As Monti’s Problems Swell 

Wealthy French Vow To Leave Country If Socialist Government Passes 75% Tax

New York Tests "Social Impact" Bond Investing With Evil Goldman Sachs

Four-Year Silver Probe Set To Be Dropped

741 Tax Returns Filed From Single Florida Address, IRS Sent Back Over $1 Million In Refunds