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Welcome back everybody for another inspiring day at The Live Show.If you would like to comment on the show, you can do so on Twitter @Jason_Stapleton, it comes straight to the desk right here. You can email to Jason@TheLiveShow.TV as well.In today’s episode, the news goes everywhere today. It crosses the spectrum.There’s updates on the beheading that I talked about yesterday, the ebola crisis, we’ve got some political news, we’ve got stuff on Eric Holder and the controversy there with subpoenas of reporter’s emails.And we’ve got an incredible story out of the Justice Department, claims Blacks and Hispanics are dumb and unsophisticated, I am not kidding you. That’s a real thing, we’re going to talk about that today as well.Maybe the biggest news on the front today is what the Federal Reserve did yesterday on it’s bond buying and asset purchase program. They ended up ending it.Now, many of you probably don’t care about that because you don’t understand it. And what I want to try and do is to shed some light on the Federal Reserve, the policies they institute, the way the banking system in America and really around the world works.Now, I know what a lot of you are thinking, that theres nothing that I want to do less than listen to explanations about how banking structures work. But I’m going to make this interesting, it’s going to be fun so that you can walk away with a better understanding of how your economy functions.Because it’s critical that you understand this in order to be an informed person. And, if you are a Black or Hispanic, I want you to understand that although your government, although the Justice Department thinks you’re slow, I in fact know that you are not. That you are more than capable of handling this type of information and being empowered to make better decisions and, more importantly, when you go to the polls, be able to vote more intelligently who are going to be serving you.We’ve got the FCC out with new regulations. Google has a really awesome new heart attack and cancer detector that we didn’t get to in the stack yesterday, which we’ll get to today. -----If you would like to discuss anything with John about the show, email him at Jason@TheLiveShow.TVYou can also use the hashtag #TheLiveShowFollow Jason on Twitter: www.Twitter.com/TheLiveShowTVFollow Us on Facebook: www.Facebook.com/TheLiveShowTV-----If you are really enjoying the show and would like to support what we're doing at The Live Show, please consider donating to our cause. You can do that at www.Patreon.com/TheLiveShow-----Are you interested in advertising on The Live Show?Reach out to us at Advertising@TheLiveShow.TVWe’d love to talk with you.-----SponsorsTrade Pro Futures: http://tradeprofutures.com/The industry's top futures and forex trading platforms.Trade Empowered: http://www.tradeempowered.com/Learn how to day-trade, swing-trade, or become a profitable long term trader.Main Street Alpha: http://mainstreetalpha.com/A social site that links up professional successful traders with verifiable track records to capital.----- Well, I know what you’re thinking. You’re thinking I’ve got to hear this story about Blacks and Hispanics. This is out of RedState.comJustice Department claims black and Hispanic voters are dumb and unsophisticatedhttp://www.redstate.com/2014/10/25/justice-department-claims-black-hispanic-voters-dumb-unsophisticated/Eric Holder and the wannabe-fascists in his Justice Department are carrying out a jihad on behalf of vote theft. They are doing this by contesting Voter ID laws that are being passed in many states despite a nearly unbroken string of defeats in appeals courts.To make their case that Voter ID laws are discriminatory the Justice Department has testified time and again that black and Hispanic voters are less capable that white voters of obtaining the necessary ID and in understanding the candidates and issues.They are making a case here, the Justice Department and the NAACP are in court, making a case for voter ID and there should not be any voter ID laws because it unfairly discriminates against minorities.Well, how can that be? I mean, we have cars and anybody can get an ID. How could it possibly discriminate against minorities? And so you can’t really make the case that it’s discriminatory on a financial basis when it’s so easy to get a photo ID.Let me preface this by giving you my opinion about voter ID. I don’t care.There are so few recorded cases in the history of elections of verifiable voter fraud. I’m not saying it doesn’t take place. I don’t think it’s unreasonable to have a voter ID law.I’m just saying all of those Republicans out there who are talking about voter fraud and how it’s costing us elections, it isn’t the case. The reasons Republicans can’t win elections is because they don’t stand for anything. That’s why they can’t win elections. It’s because they’re lukewarm on every issue. They’re kind of for it but not really for it. And so when you don’t stand for anything, you don’t inspire confidence in anyone. And when you don’t inspire confidence in anyone, they don’t feel like you’re really there to support them, which you’re not.The left, on the other hand, the progressive movement, boy you know where they stand. There’s no wishy washy questioning about their position like gay rights, immigration, healthcare. And what’s unfortunate is that the Republican Party has taken on a tact that says we want to be the same but just a little different. And that’s why they can’t win elections.At the preliminary injunction hearing in July, before Judge Thomas D. Schroeder in the U.S. District Court for the Middle District of North Carolina, the government produced Professor Charles Stewart of MIT’s political-science department. According to the transcript of that proceeding, when Stewart was asked why he believed that eliminating same-day registration (which only eleven states have) was discriminatory, he said that same-day registration provides “a mechanism and a time that’s well situated for less sophisticated voters, and therefore, it’s less likely to imagine that these voters would — can figure out or would avail themselves of other forms of registering and voting” (emphasis mine).And who are those “less sophisticated voters” who can’t “figure out” how to register to vote? They “tend to be African Americans,” according to Stewart. He added that “people who register to vote the closer and closer one gets to Election Day tend to be . . . less-educated voters, tend to be voters who are less attuned to public affairs.” Stewart said that these voters “tend to be African Americans.” Of course, the voter-registration data in North Carolina directly contradicts this, since Stewart was forced to admit that blacks in North Carolina actually “were registered at a higher rate than whites” before Election Day in the 2012 election.Stewart leveled the same type of criticism at a measure to reduce the number of early-voting days. African Americans would be deterred from voting, he said again, because they are “less sophisticated voters.” He denied that he was racially stereotyping blacks — even when he said that they have a harder time figuring out how “to navigate the rules of the game.” He admitted that he did not survey black voters in North Carolina to ask them “directly about understanding the rules of registering and voting.”The NAACP’s expert was another professor, Barry Burden, of the University of Wisconsin. Burden claimed that blacks and Hispanics are less able “to pay the costs of voting” because of the “stark differences between whites, on the one hand, in North Carolina and those of blacks and Latinos in North Carolina.” By costs, Burden was referring to “the time and effort that a voter has to put in in order to participate.” That includes “locating the polling place, getting the right paperwork, understanding who the candidates are, becoming informed.” From his testimony, it was clear that Burden did not think that blacks and Hispanics have the same ability as whites to accomplish basic tasks such as locating a polling place, filling out a one-page voter-registration form, and learning what issues candidates support or oppose.They are literally saying that it is an undue burden on minorities to force them to find their polling place, fill out a registration form, and to do their own research to understand who they’re voting for and why because Blacks are not sophisticated enough to understand that.This is what the government is using to make their argument. To those of you who are African Americans or Hispanics, because they’re basically saying the same thing about Hispanics. But specifically, to the African American community because there seems to be a lot of divide between Blacks and Whites.There seems to be a lot of racial tensions going on right now. This is what your government thinks of you. This is what Eric Holder of the Justice Department thinks of you. They think that you’re stupid. They think that you are less intelligent than White people. Less capable of understanding the vote and the people who are running for political office. And so, you need special privilege, someone to hold your hand and make sure that you get walked to the right polling station and somebody fills out the information for you, someone sits down and explains to you the candidates.I would be more than offended. I would be outraged. I just can’t believe that they would actually in open court make these kinds of accusations against the Black community.It’s got nothing to do with you, the Black voter at the end of the day. It only got to do with being able to put as many people in the polling place who have no idea what the issues are and getting them to vote a specific line. To get the most amount of uninformed people to the polling place to vote. And to get them to the polling place, to get them to vote a straight line Democratic vote.That’s what this is about. And if they have to make you all out to be stupid, ignorant, less than human, in terms of your intellect and capacity, well that’s fine because it accomplishes the goal so they’ll do it. The goal of getting Democrats elected. It’s appalling. And you all ought to be outraged about it so I’m just letting you know what’s going on. It’s your responsibility to take action. Articles Jason covers in today’s episode:Holder says ‘subpoena’ to Fox News reporter is his one regrethttp://www.foxnews.com/politics/2014/10/29/holder-says-subpoena-to-fox-news-reporter-is-his-one-regret/Attorney General Eric Holder says he has one regret: his department's court order for Fox News reporter James Rosen's emails labeling him a criminal "co-conspirator."The outgoing attorney general, who recently announced his retirement, addressed the controversial episode during the "Washington Ideas Forum" on Wednesday. Asked what decision he wishes he could do over, Holder said: "I think about the subpoena to the Fox reporter, Rosen."Holder was referring to a 2010 search warrant application seeking Rosen's emails. The Justice Department at the time was investigating who leaked information contained in a series of reports by Rosen in 2009 about North Korea's nuclear weapons program.In the course of seeking Rosen's emails, an FBI agent submitted an affidavit claiming there was evidence that Rosen broke the law, "at the very least, either as an aider, abettor and/or co-conspirator." The affidavit went so far as to invoke the Espionage Act -- pertaining to the unauthorized gathering and transmitting of defense information.On Wednesday, Holder said that application could have been done "differently" and "better.""I think that I could have been a little more careful looking at the language that was contained in the filing that we made with the court -- that he was labeled as a co-conspirator," Holder said, while claiming they did that "as a result of the statute."What they did was they called Rosen a traitor to his country. The only way to get the authorization was to lie about what he was doing. Now, they knew from the beginning that he was not a co-conspirator, aiding and abetting terrorists.It was only through your dishonesty, your lies, through your corruptions that you were even ever able to do this. This is another example. People rail against big government but they don't about big government.The thing about big business is that it is subject to the whim and will of buyers. If you don't like Walmart, you don't have to shop there, you can go to Target. You vote with your dollars.The government is something totally different. When you give them the power to regulate, there is no one in there to regulate them. The Justice Department is suppose to be the regulator, to look into corruption. But they are bought and paid for by the Obama Administration. There is no justice there. It is corruption on an absolute scale.And I get nervous even talking about this stuff. I got to be honest with you. We just watched a video of a guy who put out a few humorous tweets about the President and Secret Service showed up to his door. I keep waiting for them to show up at this door. To try and shut me up. They have absolute power and no oversight. So who regulates the regulators?We have to be so careful with the power and authority we give to the government. Dirty tricks of the student loan industryhttp://money.cnn.com/2014/10/29/pf/college/student-loan-servicers/The Consumer Financial Protection Bureau put student loan servicers on notice this week with a report detailing industry practices it found suspect.These companies help collect on the $1.2 trillion in student debt, but the report didn't name names of shoddiest actors. FCC Chairman looks to spur online video futurehttp://www.usatoday.com/story/tech/personal/2014/10/28/fcc-tom-wheeler-online-video/18081215/The FCC chairman on Tuesday formally asked the rest of the commission to consider new "technology-neutral" rules to update the agency's definition of what amounts to a pay TV service or a "multichannel video programming distributor (MVPD).""Today the FCC takes the first step to open access to cable programs as well as local television," he wrote. "The result should be to give consumers more alternatives from which to choose so they can buy the programs they want."If approved by the commission, the rules would give Internet-based video providers "the same access to programming" as cable, satellite and telco-delivered pay TV services," Wheeler said in a blog post on the FCC website.The move would encourage current and new video providers to take advantage of Internet-delivered content and boost competition, he says. And new over-the-top TV providers might offer "smaller or specialized packages of video programming, so consumers will be able to mix-and-match to suit their tastes," Wheeler says.Now, first of all, congratulations to the FCC. I'm ecstatic that they are doing this. But my question is why did they have the authority to do this?Why is there a rule of what constitutes a paid TV service? And why do we need new rules to create technology neutral services?Because a long time ago, somebody said under the guise of protecting you that we needed a FCC to regulate the airwaves and make sure everything is right for you the consumer to protect you. It's because of rules and regulations like this, it hampers growth and limits competition and it's always done under the guise of protecting you. Fed ends bond buying, shows confidence in U.S. recoveryhttp://www.reuters.com/article/2014/10/29/us-usa-fed-idUSKBN0II20O20141029The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.In a statement after a two-day meeting, the central bank largely dismissed recent financial market volatility, dimming growth in Europe and a weak inflation outlook as unlikely to undercut progress toward its unemployment and inflation goals."On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing," the Fed's policy panel said in an important departure from prior statements, which had described the slack as "significant.""The committee continues to see sufficient underlying strength in the broader economy," it said.Now the question is will the market be able to sustain this growth?I want to explain exactly what has happened. Right now, our government has to issue debt every single month in order to pay it's bills. It runs a deficit of half a trillion dollars a year.In order to spend that money, we have to borrow that money. The government does that by issuing debt and that debt goes out into the open market. Anyone out there is allowed to buy it.What has been happening is, right now, in order to keep interest rates low, in order to keep money flowing into the economy, the Federal Reserve has been buying those bonds in order to keep the bond prices down.And, then what happens is, the remainder of the bonds are at a lower interest rate because there are less of them, which causes a higher demand on them. So, that's the way they've been doing this purchase. Make sure you don't miss Jason's brief analysis about how the Federal Reserve works to educate and empower you.Hope you enjoyed today's episode but we are out of time and we'll continue this conversation for even further analysis tomorrow.Support the show.