- World Bank Steps Back (BBC): “The World Bank and the International Monetary Fund are putting their work on hold after the devastating bomb which ripped apart the United Nations’ headquarters in Baghdad on Tuesday. Both international financial institutions had staff injured in the blast, and one Iraq employee of the World Bank is still missing. The other 14 World Bank staffers have been relocated to Amman, the Jordanian capital, where the six people employed by the IMF - who had only arrived the day before the attack - have also been moved. But both promised to stay in Iraq for the long term, even if their operations would be out of commission for the present. “
- Sobig Virus Spread is Fastest Ever (Dow Jones): “The ‘Sobig.F’ computer virus that began attacking e-mail systems globally Tuesday has been declared the fastest-spreading e-mail virus of all time. Meanwhile, the Blaster and Nachi Internet worms continued to bombard corporate networks, having even caused slowdowns on parts of the Internet backbone.”
- The Spam Problem Solved (J. Tucker, LRC): “What do to? If the market rules, the way follows the will. It was just a matter of time. And now, thanks to the miracle of private solutions, the spam problem does not need to exist at all. The solution is in one word: Spamarrest. Glory be to private solutions! The result is far better than I imagined.”
- Hating the Rich (Access Atlanta): “According to the great Austrian economist Ludwig von Mises, innovation ‘is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow.’ The affirmation of this is evidenced by the ubiquity of mobile phones, DVD players, and countless other innovations that were once within the reach of only the more affluent consumer.”
- Price of Treasuries Tumbles of Inflation Fears (NYT): “The 10-year Treasury note had its biggest decline in a week in New York trading yesterday on speculation that job and manufacturing reports today would provide evidence of faster economic growth, and thus help ignite inflation. Investor concern that inflation, which erodes the value of a bond’s fixed payments, will accelerate has contributed to the worst two-month period for government debt in at least 20 years.”
- Hubba Hubba Honda Honda (B. Edmonds, Mises.org): “In the 1980s, we passed a $2000 tariff on Japanese minivans. Our automakers immediately raised our prices by $2000. It’s too bad for us that our corporations would rather stiff us than learn from their own great ideas. Until they change their habits, get yourself a Honda.”
Posted by Mises.org News
