classical economics
for analysis,  forecasting
and policy design

Historical Facts Prove Imposed Starvation

By Wayne Jett © July 24, 2017

     The big lie of FDR’s first inaugural address was his punch line: “The only thing we have to fear is fear itself.”

     No longer can it be said that the Great Depression is “unexplainable.” The facts are out. The Great Depression was imposed on Americans and the world primarily by Franklin D. Roosevelt on behalf of the elitist shadow government known as The New Republic. Herbert Hoover allowed himself to be rolled by the same puppet-masters, setting the stage for FDR to nail the famine which starved to death millions of Americans: auto-genocide. Complete text here.

But Only Gold Is Good Money
By Wayne Jett © March 7, 2017

     Bitcoin turned many heads as the dollar price of one bitcoin surpassed the price of one ounce of gold. If your head is one of those just mentioned, you need to know more than that the price of bitcoin is “going up.” Bitcoin is not real money, nor is it good money, because it has neither intrinsic value (as does real money) nor stable value (as does good money). Complete text here.



Deep State Prepares Syria Invasion, N Korea Attack

By Wayne Jett © April 19, 2017

      Not a single allegation made by President Trump’s political opposition during or since his 2016 election shook his solid support by the populist movement which gave him victory over a corrupt Establishment opponent. Why, then, is the president squandering this enviable position by permitting Deep State operatives to reverse his clearly stated policy opposing a U. S. war to overthrow the elected government of Syria? And why is the president suddenly focused upon resolving militarily the 65-years-old Korean cease-fire? He appears to be taking orders rather than giving them. Complete text here.

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The Federal Reserve Owes US!

By Wayne Jett © February 17, 2017

     Human slavery is very much present in 21st Century America and the world. The slaves are of every race, creed and color. Our slave-masters are the criminal cabal of powerful families who rule through a shadow government which places them above the laws binding the rest of us. In 2017, an American majority is mounting a determined movement to end the slave regime and open an era of justice and opportunity for all. Complete text here.

From Elitist Fascism to National Republics

  By Wayne Jett © January 16, 2017

     The 2016 presidential contest is potentially the most consequential in more than a century. President-elect Donald Trump presented himself in the campaign as champion of the middle class and expressly anti-Establishment. No other president with anti-Establishment policies has avoided assassination* since Andrew Jackson won in 1828 as the first candidate of the Democratic Party and survived multiple assassination attempts during two full terms. Complete text here.

In U. S. Economic Recovery

By Wayne Jett © December 19, 2016

     The current highs in U. S. financial markets and in the U. S. dollar’s value relative to other currencies are illusory, even to the extent they are based on improved public optimism arising from President-elect Donald Trump’s economic policy reforms. The catastrophe that has been made of the dollar by the Federal Reserve’s actions, both disclosed and undisclosed, comprises an enormous chasm which must be navigated, if not bridged, before any degree of general prosperity can return to this nation. With each additional day that the Fed exists, the impoverishment of the American middle (productive) class draws nearer completion. Complete text here.


       No, and CIA Knows It
        By Wayne Jett © December 14, 2016

      Only last week, President Obama publicly announced he had ordered the Central Intelligence Agency to give him a full report on Russia’s role, if any, in providing emails which WikiLeaks methodically leaked through the internet, thereby cratering Hillary Clinton’s chance to win the presidential campaign. Sure enough, just in time for the weekend news shows, the CIA’s report was in Obama's hands, allegedly concluding that Russia hacked the email accounts and gave them to WikiLeaks. Complete text here.

Putin Needs Help to Stop It

By Wayne Jett © October 18, 2016

          Today is more dangerous than the Cuban missile crisis of 1962. This time the crazies are on our side of the rising conflict – stoking war by provoking Russia while scheming to launch a pre-emptive first strike. Americans must somehow disable officials who are puppets of the shadow government imposed by New World Order psychopaths. Otherwise, nuclear war will be pulled down upon us to destroy evidence of financial fraud and looting which has destroyed the dollar and brought economic collapse. Complete text here.

This Time, Shouting “Sell” Will Not Be Enough
By Wayne Jett © August 8, 2016

      The signal to begin the Great Crash of October, 1929, was a floor vote by the U. S. Senate approving a sharply higher tariff rate on a milk by-product used in paper-making. A cascade of sell orders ensued immediately, driving down corporate share prices, destroying companies and ruining investors. Once the crash began, an investor’s objective was clear: sell shares for cash as quickly as possible. Complete text here.

Demand for U. S. Currency is Phony
By Wayne Jett © February 1, 2016

      When U. S. economic and monetary policy gets into serious trouble, as at present, grab your wallet. Payrolls are being cut and businesses closed, unemployment is at depression-level 25%, while savings earn near-zero interest for the past seven years. Major media jargon is flying thick and fast telling you the Federal Reserve Board is working hard to find a solution beneficial to the public. By this time, you should be certain the talk is deception aimed at robbing more value from your savings and invested capital. Complete text here.
First Remove Your Major Media Lens
By Wayne Jett © January 7, 2016

        Year-end 2015 finds the world deeply troubled, but with important recent successes in avoiding worse events. American social, economic and military collapses are looming. World war has been avoided so far, but the largest battles since World War II are underway, and important nations are involved. The outcome can become a net positive, but only if the transition is accomplished without world war and the evil shadow government that has abused the nation and the world for two centuries is destroyed. These are two tremendous challenges. The coming year will not be easy business as usual for Americans. Complete text here.
How the Federal Reserve Steals Capital Worldwide
By Wayne Jett © September 21, 2015

          The Federal Reserve is the privately owned central bank given authority by Congress in 1913 to create and manage U. S. currency. Andrew Jackson, elected president in 1828 and re-elected by landslide in 1832, was the last U. S. president to oppose a private central bank and survive the conflict. Jackson knew a private central bank to be a viper at the breast of all humanity, and he spent much of his two presidential terms defeating extension of the central bank’s charter and multiple assassination attempts. Complete text here.


All Must Go!

By Wayne Jett © July 28, 2015

          The dollar issued by the privately owned Federal Reserve will fall from its status since 1944 as the global reserve currency. The big Wall Street banks will fail. The U. S. federal government will collapse into insolvency. Congress, the Executive Branch and Judicial Branch have been complicit in financial fraud, economic and political suppression, and international aggression which will produce these cataclysms, and will not prevent them. Should we discuss it? Complete text here.

Will Not Be Dollar-Centric
By Wayne Jett © January 19, 2015
     Fiat currency crimes centered in the Bank of International Settlements, the Federal Reserve and the U. S. dollar will either destroy productive middle classes worldwide – as designed – or fiat currencies will be pulled down and criminals behind them brought to justice. The battle is on, and the outcome may become apparent soon, if it is not already. A primary question remaining: will fiat currency criminals have U. S. armed forces on their side, against them, or divided? Complete text here.


Secret Tapes Prove It, But So What?   

By Wayne Jett © September 29, 2014

Michael Lewis reports for Bloomberg “a jaw dropping story” that “secret tape recordings” prove Goldman Sachs engages in serious wrongdoing repeatedly, while its principal regulator – the Federal Reserve – does nothing. This is news? Not in these parts. The Fed is the most ill-suited regulator of banks ever appointed by Congress, which greatly increased the Fed’s authority despite its central role in the financial terrorism of 2008. Complete text here.

                             Will Either “Reality” Survive?
                                                                    By Wayne Jett © September 5, 2014

     The economic forecasting firm most widely followed by large investors wrote August 4 that economic growth is “solid – not too hot, not to cold.” Inflation is so near zero as to be essentially non-existent. Monetary policy is well-considered and deserves only a moment’s pause to assure that the Federal Reserve will avoid a “lurch towards tightening.” Employment growth is where it needs to be. The worldwide Associated Press reported U. S. Treasury debt securities “are viewed as one of the world’s safest investments.” Are we back in Kansas, or in the Land of Oz? Complete text here.
Why Are U. S. Policies So Destructive?
By Wayne Jett © May 17, 2014

     Here is the key to decode the social agenda served by federal laws, regulations and policies. Imagine the U. S. government is controlled by “intelligent men of the new republic.” All then will become clear.  No more time wasted debating bad design, good intentions or other distractions. Complete text here.
THE ULTIMATE MONEY-MAKING FRAUD MACHINE Congress Creates Wealth for a Private Central Bank
By Wayne Jett © February 19, 2014

      Imagine making money, not by working, but by favor of your government. The government passes a law saying only you can create money. You create money and lend it to the government, which promises to pay you back the same amount plus interest. You own a central bank. Call it the Federal Reserve, so others think it has a good purpose. Complete text here.
America Is Its Primary Target
By Wayne Jett © January 7, 2014

     Since mid-2008, U. S. economic and monetary policies often appear entirely without historical precedent. In barely five years the Federal Reserve quadrupled the number of dollars in the monetary base. This enabled President Barack Obama’s U. S. Treasury to borrow and spend in more prodigious amounts than any previous administration. But today’s U. S. conduct has parallels – none reassuring – in the Teens, the Thirties and the Seventies of the 20th Century. Complete text here.
Federal Reserve, DOJ, IRS, NSA, DHS, EPA Betray America
By Wayne Jett © November 25, 2013

     Americans are under attack on many fronts, so our predicament cannot be termed merely “a bad economy.” This once thriving, preeminent society is being systematically undercut from within by officials and policies of government. A ruling elite pull the strings of puppet officials, and they do not intend for the U. S. Constitution or our prosperity to survive. Complete text here.
Russian President May Have Bigger Diplomatic Move Ahead
By Wayne Jett © September 17, 2013

    Nothing went as planned for President Obama and his Secretary of State John Kerry in the first week of September. Kerry and then Obama asserted that Syria’s government forces used toxic chemical weapons to kill men, women and children, including civilians and “rebel” fighters, and must be punished by U. S. missile strike. Obama had U. S. naval forces in position. But public opposition rose so quickly his speech to announce the strike morphed into a request that Congress authorize it. As Congress pondered near unanimous negative public sentiment, Russian president Vladimir Putin suggested a diplomatic solution. Obama and Kerry grabbed the face-saves. From behind the curtain, their elitist handlers hissed “Curses! Foiled again!” Complete text here.

Override Veto and Save Your Constituents
By Wayne Jett © August 22, 2013

    Democratic back-benchers in Congress, finally your destiny is in your hands. Your leadership ordered you to vote ObamaCare into law to find out what was in it. Now you know what is in it, and this what you must do. Sponsor a bill to repeal ObamaCare. Republicans will join you to override the president’s veto. Don’t wait until the elections of 2014. Voters will not forgive you if you allow ObamaCare to destroy their jobs and health care. Complete text here.

Secret Government Assault Must Be Stopped
By Wayne Jett © August 7, 2013

    The blue-and-green jewel of the universe, Earth, is fast becoming a dead planet. The culprit is not industrial pollution. The Earth is under heavy attack by weapons of mass destruction: a “mechanical analog” to bio-chemical warfare. Micron-sized “dust” of aluminum, strontium and barium is sprayed daily as aerosols into the stratosphere to be breathed or ingested by every living thing. Time may have run out, but at best is very short, if life on Earth or we are to survive. Complete text here.
                              Influence Co-Opts President, Congress, Courts
                                                                  By Wayne Jett © July 23, 2013

     The past 100 years have been phenomenally successful for a small, powerful circle often called “the Establishment.” In 1913, the Establishment got its long sought private bank (called the Federal Reserve) with the exclusive franchise to create and lend legal currency used by the U. S. government and the American people. The same year, 1913, they got a tax on all income earned by productive people, with rates graduated higher for more successful producers. The very next year, 1914, the Establishment commenced a landmark achievement: World War I. Complete text here.
Can One Survive Without the Other?
By Wayne Jett © May 30, 2013

    The U. S. Constitution requires a high standard of integrity from elected officials because it embraces the republican model of government. Effective oversight by the electorate is impossible when officials or their subordinates mislead or fail to inform citizens about government policies and actions. Merely reciting these truisms raises serious doubts about the health of the American republic. Complete text here.
$5 Trillion in Four Years Buys Only “Grand Illusion”
By Wayne Jett © April 22, 2013

       Since 2009, the U. S. has borrowed and spent $5 Trillion – $42,500 on behalf of every household in the nation – to produce economic recovery, and has failed to achieve it. A suggestion four years ago that each household should borrow and spend that much new debt would have been called, at best, ill advised. This being so, the federal government doing the equivalent on our behalf has been both destructive and unpardonable. Complete text here.
Lessons from Cyprus and the Homeland
By Wayne Jett © March 30, 2013

       Cyprus teaches the wisdom of limits on government power. Lucky for Americans, Framers of the U. S. Constitution understood this and wrote into the Bill of Rights specific things the government is prohibited from doing. But words on paper cannot restrain governments. Only daily, vigorous actions to protect and extend human liberty can do so. Otherwise, governments will grind into dust every claim of right made by aliens or its own citizens. Complete text here.
                            OUR MOST URGENT CRISIS
                                                                              War on Weather Is Really Against Us
                                                                                             By Wayne Jett © December 10, 2012

    Despite the season, for those unaware, this news cannot wait. Agents with U. S. government authority are using chemical and electronic weapons of mass destruction against America – poisoning the air, soil, food and life itself. Millions of tons of metallic aerosols are being sprayed into our upper atmosphere, then coupled with powerful electronic beams, under the thin disguise of “geo-engineering” – weather control – bringing drought, famine, disease and death. This assault on nature already has raised an imminent threat of climate change so radical as to end life on major portions of the planet. Those spraying, apparently aware of the threat, are doubling down. Complete text here.
                             ABOUT “THE DUST BOWL”
                                  Historical and Economic Misconceptions
                                                          By Wayne Jett © November 20, 2012

     PBS’s documentary called “The Dust Bowl” directed by Ken Burns and produced by Burns and others deserves commendation for telling an historically pivotal story through the faces, words and scenes of the epic itself. The families, ordeals and outcomes of real people project honesty and reality in ways not often achieved by expert commentary or fictional accounts. But “The Dust Bowl” presents a thesis that severe dust storms and poverty in the southern plains during the 1930s resulted primarily from abuse of nature by ignorant and greedy farmers. This involves serious misconceptions. Complete text here.

Turn Out Elitists Who Destroy Prosperity
By Wayne Jett © November 1, 2012

     Keynesian dreams came true with the arrival of Hurricane Sandy in the populous U. S. East Coast. Natural disasters, economist John Maynard Keynes advised, are stimulants of economic growth. He saw wars and pharoahs’ make-work projects like pyramids as economic stimulus, too.

     So Hurricane Sandy is just what the U. S. needs at this miserable time, right? If only Sandy had blown ashore in 2009, by Keynes thinking, the U. S. could have saved $5 trillion in deficit spending blown instead. Complete text here.
A New Essay

"Buttoned Up Under His Coat"

The Life and Death of James A. Garfield

By Wayne Jett © October 11, 2012
Winnowing Imposters is Easy Call
By Wayne Jett © October 2, 2012

    Do you recall an economist advising that the Federal Reserve should not manipulate interest rates? If you do, you are rare, as is that economist. Radio, television and print media define “serious economist” as one who endorses interest rate manipulation as the primary instrument of U. S. monetary policy. But no serious economist can accept that premise as valid. Complete text here.
Federal Reserve Goes All In for its Owners
By Wayne Jett © September 14, 2012

      The Federal Reserve announces its intent to create $40 billion monthly at the expense of existing savings and pay it to the big banks for mortgage-backed securities. This outrageous looting evokes what response? Applause, of course, and a little intellectual hand-wringing gives just the right tint of fair debate. Complete text here.
D'Souza Errs in Two Conclusions
By Wayne Jett © August 27, 2012

    The documentary film “2016” provides insights into early influences on Barack Obama and how they affect the U. S. president’s agenda. But author and co-director Dinesh D’Souza errs in two basic conclusions expressed about his subject. Obama is not an anti-colonialist, and his agenda is not a socialist America in the image of Europe. On each count, Barack Obama’s aim is markedly different, and worse, than D’Souza portrays. Complete text here.
Monetary Misconduct Worsens Fiscal Plight
By Wayne Jett © July 31, 2012

    A large gold hoard in the U. S. Treasury is unnecessary for a return to dollars with value reliably anchored in gold. Markets monitor the dollar’s value in gold moment-to-moment, and the Federal Reserve or (better yet) Treasury can adjust the supply of dollars so their value remains rock solid. This will leave prices of goods and services to be set by the markets, inflation-free, based on supply and demand.

      The only things “lost” would be the Fed’s discretion to create trillions of dollars at will to bail out big banks or to lend to Treasury for deficit spending. In other words, a new gold standard would be a win-win-win outcome – ending inflation, bank bailouts and excessive budget deficits. Complete text here.
                            Federal Reserve and Bank of England In On It
                                                              By Wayne Jett © July 11, 2012

    This just in: LIBOR, the most watched and used benchmark interest rate in the world, is rigged by big banks. So are bids for large deposits of bond funds by local and state governments in the U. S. – again by big banks. So can we finally dispose of the old Wall Street shibboleth that conspiracies absolutely do not exist in the U. S. financial sector? Complete text here.
Simply, Factually and Clearly
By Wayne Jett © July 5, 2012

    The Wall Street Journal marked the recent passing of economist Anna J. Schwartz at age 96 by republishing an October, 2008, interview and report of her contributions during a productive career spanning 70 years. In the 2008 interview, Ms. Schwartz emphasized the classical principle that markets must be permitted to punish mistakes if economies are to prosper. Complete text here.

Roberts Joins Four Elitists to Impose ObamaCare

By Wayne Jett © June 28, 2012

          Benedict Arnold committed no greater betrayal of Americans than has his 21st Century counterpart: John Roberts. Arnold abused his appointed position of trust in General Washington’s Revolutionary Army by scheming to hand over West Point to British Redcoats. Chief Justice Roberts joined the ranks of traitors to the cause of individual liberty, turned his back on all who supported his appointments to the Supreme Court and as Chief Justice, and stripped away hard-won political rights of ordinary Americans. Elitists now control access to health care and can rule from above as they please. Complete text here.
America, Not Banks, Set to Blow Up
By Wayne Jett © June 9, 2012

      Why on earth would giant banks like J. P. Morgan Chase “invest” hundreds of trillions of dollars in derivative securities? Ordinary price volatility, it would seem, could wipe out those banks overnight. In a forehead-slapping moment, the answer becomes clear. Effects on America and the world are both diabolical and catastrophic.

     In April, 2011, Classical Capital asked here “is the Federal Reserve selling Treasury puts?” Despite this foreboding alarm, the light did not shine far enough ahead to explain the seemingly irrational conduct of the Wall Street’s big banks. Until now. Complete text here.
Thanks to President, Congress, Federal Reserve
By Wayne Jett © May 27, 2012

     The federal budget deficit is $5 trillion this year – not the mere $1.3 trillion we’ve been told by the president and Congress. USA Today says so. This is a tax hike of $5 trillion, or $50 trillion if they do the same each year for ten years. Oh, yes, it is a tax hike. The money must be collected from taxpayers. Congress and President Obama are just waiting for someone else to tell taxpayers how much and when to pay. If you now get it that deficit spending mandates increased tax collections, then there’s more news, and its worse. Complete text here.
Let the Public Decide Who is Right
By Wayne Jett © April 24, 2012

     Federal Reserve Board chairman Ben Bernanke, let’s debate the topics on which you lectured students of George Washington University. Your office may lead some to believe what you tell them is valid. If so, they are misled in important respects. Complete text here.
Things We Learned Last Week
By Wayne Jett © April 12, 2012

    President Obama told a press conference the Supreme Court should stand aside when Congress has enacted a law with broad support. He said court intervention in this democratic process would be “unprecedented.” On March 26, Obama confided to Russian president Medvedev that he (Obama) would have more flexibility in negotiating a nuclear arms treaty after the November election, when he wouldn’t have to campaign for office again. This informed the public in two important ways, neither of which has been noted by other commentators. Complete text here.

Lost Faith in Goldman Sachs “Culture”
By Wayne Jett © March 20, 2012

     A young executive resigned from Goldman Sachs, the giant international investment bank, after 12 years during which he advanced to head U. S. equity sales to Europe, the Middle East and Africa. Having starred in the bank’s recruitment of new talent, Greg Smith concluded the firm culture no longer placed its clients’ interests above maximizing its own profits. Complete text here.
 Oil  Refineries Closed After Fire-sales
By Wayne Jett © March 11, 2012
       Gasoline prices hit historic highs as America languished in winter depression. During the week ended March 2, demand for gasoline ran about 7.8% lower than a year earlier, its worst performance so far in the so-called “recovery.” Gas prices at the pump, however, made historic highs in many locations, far above $4 per gallon. Do principles of supply and demand no longer apply in U. S. markets? Complete text here.
Trump Picks Mitt, Threatens Split
By Wayne Jett © February 14, 2012
    The U. S. economy is collapsing, not recovering. Gasoline use has dropped off a cliff, and is presently lower than in 1983 – the year the nation emerged from its worst recession since the Great Depression, and U. S. population was only 73% of the current level. Do not believe Pollyanna’s numbers on unemployment or GDP growth. The ruling elite will not allow economic recovery in 2012, not even for a presidential election. Complete text here.
Elitists Remain Intent on Destruction
By Wayne Jett © January 24, 2012
    On Monday, a caller to Rush Limbaugh’s radio show identified himself as a 48-year-old black man, a Democrat and a truck driver. More importantly, he distinguished himself as one who trusts the power of his own mind to distinguish fact from fiction, truth from lies, and right from wrong. Reliance on common sense is the foundation for humanity’s claims to individual liberty, dignity and opportunity. This is why common sense is presently, and always has been, under savage assault by those who aspire to be our rulers. Complete text here.
Defending Only the Defensible
By Wayne Jett © January 19, 2012
    Capitalism under attack in America is nothing new. In 1880, the best-selling economics book ever declared that “the power of a vast and dominant pecuniary interest … in every country … writes laws and molds thoughts [based on] elaborate fallacies and misleading theories.” A century later, the widely revered economist Milton Friedman credited the book’s author for “the least bad tax” ever designed.
    More to the point, Henry George’s Progress and Poverty was an able and eloquent defense of capitalism and free markets. So, then, what was the “vast and dominant pecuniary interest” about which he warned us? Complete text here.
End of National Democracies at Hand
By Wayne Jett © January 4, 2012
    Good news is hard to find, especially good news which is credible. One possible source is Robert A. Mundell, professor of economics at Columbia University, who was chronicled here as entitled to credit for such economic growth policies as were adopted in the U. S. during the past 50 years. Complete text here.


Destitute pea-pickers in California;
a 32 year-old mother of seven children (Feb. 1936).
By Dorothea Lange

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Tariffs are Flip Side of Currency Devaluation

By Wayne Jett © March 21, 2017

China’s entry into the World Trade Organization in December, 2001, is often cited these days as causing the demise of U. S. prosperity. A better case can be made that free and fair trade was ended in 1971 when the Nixon administration closed the gold window in Europe, thus ending the assured value of the dollar, and then “floated” the dollar’s value the following year. Free trade cannot co-exist with currencies which may fluctuate in value from day to day at the whim of the nation issuing it. Complete text here.