California Bans Gay Teen Conversion Therapy

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The government has no right to butt into parental rights, but it does it all the time and it’s getting worse. Government should refrain from interfering in private medical decisions between doctors and patients.

California Gov. Jerry Brown has signed a bill banning mental therapy for minors struggling with gender confusion.

Beginning Jan. 1, therapists are prohibited from telling anyone under the age of 18 that it’s possible to change their sexual orientation.

According to Brown, the therapies “have no basis in science or medicine and they will now be relegated to the dustbin of quackery.”

(Speaking of “no basis in science” , watch the video below)

The move has sparked outrage from those who have undergone that therapy. Some say it helped them overcome same sex attraction sparked by childhood sexual abuse.

Conservative religious groups, like the organization Parents and Friends of Ex-Gays & Gays, argue the ban takes away parents’ rights to provide psychological care for confused children.

“As parents of gays and ex-gays, we are ashamed of your willingness to take action against parents, children, and the family in order to support gay activists,” the group wrote in an open letter to Democratic Sen. Ted Lieu, who authored the legislation.

“California is not a socialist state and our children do not belong to the government, subject to the ideology of the state over the objections of their parents,” the group said.

California is the first state to ban conversion therapy for teens.

CBN News

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Jobs Outlook Seen Weak as U.S. Companies Reporting Cost Cuts

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Weakening demand is forcing new and accelerated cost reductions at companies from Bank of America Corp. and Hewlett-Packard Co. (HPQ) to Staples Inc. (SPLS) and Eastman Kodak Co. (EKDKQ), dimming the outlook for an already struggling U.S. labor market.

Even as consumer confidence and housing show signs of recovering, sales for businesses in the Standard & Poor’s 500 Index fell 0.9 percent from a year earlier in July through September, the second consecutive quarterly drop and biggest decline since 2009, according to analyst forecasts compiled by Bloomberg. A 1.2 percent gain projected for October-December still is smaller than the 5.4 percent rise in this year’s first three months.

A global slowdown triggered by Europe’s debt crisis is exacerbated by the potential impact of the impending U.S. fiscal cliff of changes in taxes and government spending. All this is pushing finance chiefs back to the drawing board, with some limiting hiring and investment and others slashing more jobs than originally announced. Such belt-tightening will dominate employment prospects for the rest of the year.

“These cost controls are one of the key reasons job growth remains relatively weak,” said Charles Lieberman, chief investment officer at Advisors Capital Management LLC in Hasbrouck Heights, New Jersey, and former head of monetary analysis at the Federal Reserve Bank of New York. Companies will avoid hiring until orders have strengthened and “they cannot meet demand with their existing workforce.”

Near-Record Cash

Partly because of the retrenching, companies in the S&P 500, excluding financial institutions and utilities, held near- record cash totaling $1.01 trillion in the first three months of 2012, S&P data show.

And even with the fragile labor market, the world’s largest economy is expanding. Gross domestic product has grown in each quarter since June 2009, when the worst recession since the Great Depression ended. Growth is weakening, however, with the second-quarter annual pace of 1.3 percent missing a prior estimate of 1.7 percent and below the first quarter’s 2 percent.

Payrolls, after slowing in five of the first eight months this year, rose 115,000 in September following a less-than- forecast 96,000 gain in August, according to the median estimate of economists surveyed by Bloomberg ahead of a Labor Department report due Oct. 5.

Private employers added 130,000 workers, they predicted, and the jobless rate rose to 8.2 percent from 8.1 percent in August. That would mark the 44th consecutive month exceeding 8 percent, the longest streak in records since 1948.

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Fed Sends Thank You Letters To Congress For Letting Them Destroy Our Economy In Secret

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It was Politico that first broke the story about the thank you letters that Federal Reserve Chairman Ben Bernanke sent to five members of Congress back in July.  Bernanke acknowledged in the letters that there was never any worry that the “Audit the Fed” bill would actually get through Congress and be signed into law, but he was still extremely grateful that a number of members of Congress got up and publicly denounced the bill….

In July, the Fed chairman sent letters of gratitude to five Democratic members of Congress after they delivered speeches on the House floor urging fellow lawmakers to reject the “Audit the Fed” bill authored by retiring Texas Republican Ron Paul, the central bank’s chief antagonist.

Their efforts failed to defeat the bill, but they were not in vain, at least in Bernanke’s eyes.

“While the outcome of the vote was not in doubt, your willingness to stand up for the independence of the Federal Reserve is greatly appreciated,” Bernanke wrote in the letters, which were obtained by POLITICO through a Freedom of Information Act request.

So who did Bernanke send those letters to?

According to Politico, the thank you letters were delivered to U.S. Representatives Barney Frank, Elijah Cummings, Melvin Watt, Carolyn Maloney and Steny Hoyer.

By refusing to take action against the Federal Reserve, the U.S. Congress is silently endorsing their incredibly foolish policies.

Sadly, most Americans don’t even realize that the Federal Reserve has more control over our economy than anyone else does.  Most Americans that are actually concerned about politics are busy arguing over whether Obama or Romney will be better for the economy when it is actually the Fed that controls the levers of economic power.

Just think about it.

The Federal Reserve played a major role in creating the housing bubble which severely damaged our financial system a few years ago.

As the chart below shows, after 9/11 the Federal Reserve dropped interest rates to historically low levels.  This allowed potential home buyers to get into much larger mortgages, and the big banks (which the Fed supposedly “regulates”) started making home loans to almost anyone with a pulse.

When interest rates started to go back up to normal levels in 2005, many home owners discovered that their adjustable rate mortgages started to become much more painful.  By 2007, we started to see a massive wave of mortgage defaults.  In 2008, the financial system crashed.

In response to the financial crisis of 2008, the Federal Reserve dropped interest rates to record low levels.  The effective federal funds rate is essentially at zero at this point, and the Fed has promised to keep interest rates at ultra-low levels all of the way into 2015.

But didn’t artificially low interest rates cause many of our problems in the first place?  The central planners over at the Fed are convinced that this is the right course for our economy, but can we really live in a zero interest rate bubble indefinitely?  Won’t this eventually cause even greater problems?….

The Fed is also destroying our economy by recklessly printing money.

Once upon a time, the U.S. monetary base rose at a very steady pace.  But since the financial crisis of 2008, Ben Bernanke has been flooding the financial system with money and this has caused an unprecedented explosion in our money supply.

It isn’t too hard to see from this chart what the foolish “quantitative easing” policies of the Federal Reserve have done to our monetary base….

Fortunately a lot of the money from previous rounds of quantitative easing is being stashed by the big banks as “excess reserves” with the Federal Reserve, but when that money starts flowing into the “real economy” (and it will at some point), we are going to have a major problem on our hands.

But more than tripling our monetary base was not enough for Bernanke.  He recently announced yet another round of quantitative easing which he says will last indefinitely.

Basically, Bernanke is taking a sledgehammer to the U.S. dollar.  Our currency is being systematically destroyed, and the U.S. Congress is standing by and doing nothing.

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