- Occupation Forces Halt Elections Throughout Iraq (Washington Post)
- Kitchen Sink Economics (CNN.com): “Policy makers in the federal government and the Federal Reserve have thrown everything but the kitchen sink at the ailing economy, and most economists are saying their efforts will spur relatively robust economic growth in the second half.”
- Low Interest Rates Squeeze the Budgets of Retirees (CSM): “Retirees count on investments to supplement Social Security and pensions. Many have been cautious all their lives with their money, socking it away only in certificates of deposit or government securities. But now, the declining income from these sources means that retirees’ standard of living is declining, too.”
- On a Roll: The Growing Impact of China (Economist.com): “Last year, China’s imports and exports had a combined value of about $620 billion and accounted for 4.7% of world trade—nearly double the country’s share of 2.7% as recently as 1995 (see chart). Such is the speed with which China’s industries are growing that the share is expected to jump again over the next few years.”
- A Wi-Fi Bubble? (Economist.com): “It all sounds ominously familiar. A new technology emerges and is rapidly embraced by technology enthusiasts. Hundreds of firms spring up, hoping to cash in on its expected breakthrough into the mass market. Profits, or having a sensible business model, are forgotten in the rush. But demand proves elusive, a painful bust ensues, and only a handful of firms survive. It happened during dotcom mania and is now about to happen again, albeit on a smaller scale, to Wi-Fi, a popular way to surf the internet wirelessly.”
- Book Buyers Stay Busy for Forsake Bookstores (NYT): “The impressive sales totals partly reflect the growing power of big discounters like Wal-Mart and price clubs like Costco. In a sea change for the publishing business, those outlets accounted for as much as half of the early sales of the three books and can claim as large a share as traditional bookstores and online outlets, according to the publishers and an analysis of sales of figures.”
- Euro Inflation Rises, Eases Fears of Deflation (Bloomberg): That’s one way to spin the secret tax of printing money.
- The Levitating Economy (MSNBC): “Rates are low now because the Fed has cut short rates, which it controls, to juice the economy, and has jawboned the bond market into lowering long-term rates. But when business borrowing picks up and the Fed changes course, look out. Foreigners are financing about half our deficits. It may be a cliche, but we’re becoming as hooked on foreign money as we’ve been on foreign oil. That can’t be a good thing.”
Posted by Mises.org News
