Confidence in War Falls Below 50%

08/15/2003 Mises Wire Mises.org

Confidence in Iraq War Falls Below 50% (Scripps Howard): “The poll, taken over two weeks ending Aug. 12, found a broad drop in commitment for U.S. involvement in Iraq over a similar survey taken in early May, shortly after President Bush declared an end to major military operations there. At that time, fewer than a third of Americans said they had doubts about the correctness of the war and the military occupation that followed. Bush’s approval rating also has dropped, with 52 percent saying they approve of what he has done as president, a 12-percentage point decline in less than three months and the lowest number yet recorded by the polls since he took office in January 2001. The general feeling that America is headed ‘in the right direction’ has taken a hit recently as well.” (via antiwar.com)
China to Put Property Rights in Constitution (AP): “The change would give Jiang a shot at his longtime goal — sealing his place in history alongside his legendary predecessors. Jiang’s policies might find a place in the constitution along with those of Mao Zedong, the founder of communist China, and Deng Xiaoping, who launched the country’s economic reforms. The news reports gave no details of the possible changes. But foreign analysts say they include the communist era’s first guarantee of property rights for entrepreneurs who have driven China’s two-decade-old economic boom.” (via EconoPundit)
Prices, Jobless Claims Up (AP): “The Labor Department reported today that new applications filed for unemployment insurance rose by a seasonally adjusted 2,000, to 398,000 for the workweek ended Aug. 9. In a second report, the Producer Price Index, which measures prices of products before they reach store shelves, rose 0.1 percent in July, as expected, restrained by falling prices for food and moderation in energy prices.”
Inflation Fears Hit Bonds (TheStreet.com): “The data confirmed the bond market’s worst fears: that the economy is reviving, and because the Fed has pledged to keep the fed funds rate at 1% for a ‘considerable period,’ inflation is likely to make a comeback. At the very least, the Treasury market is building in higher inflation expectations than in prior months and that it finds the Fed’s warnings about an ‘unwelcome fall in inflation” (substantial or otherwise) to be disingenuous.” (via PrudentBear.com)
Deregulation Blamed for Blackouts (USNewswire): “Most of the states impacted by Thursday’s massive blackout are states that have enacted electricity deregulation schemes in recent years, according to the California-based Foundation for Taxpayer and Consumer Rights (FTCR). While the reasons for the blackout remain unclear, FTCR believes that the lack of government oversight of public utilities contributed to the extended reach of the power outages. Historically, electric utilities had been fully regulated and subject to stringent supply standards and price controls.”
Teacher Shortage is Over (AP): “The nationwide teacher shortage that once had school districts scrambling to find enough instructors to fill classrooms has eased significantly as the economy has cooled, according to groups that track education employment. The American Association for Employment in Education said preliminary results of its annual survey of hiring patterns indicate that demand for teachers has fallen for the second straight year and is at its lowest level since 1998.”