In what could be a new low for German labor unions, consider this ad, linked from an article in Der Spiegel. It is a video sponsored by Germany’s largest labor union. In it, four adolescents commit suicide because of bad job prospects.
According to Reagan: A Life in Letters (pgs. 298-299), Reagan sent a hand-written letter to Gordon Luce, the CEO of a California savings bank, on July 23, 1981, responding to a memo from Luce criticizing the lack of accountability for the Federal Reserve and its unpredictable money supply policies:
Dear Gordon:
The socialist publication In These Times runs Christian Parenti on Hayek: Winning the War of Ideas (October 17, 2003): “For Hayek, liberals—by which he meant followers of classical free-market economics—had to avoid anti-intellectualism, pragmatism and short-term struggles. Calling for utopian thinking, radical positions and a long-term strategy, Hayek urged liberals to imitate socialists.
The question has come up whether business cycles are more or less severe, and the economy more or less volitile, today than in the past. The most recent National Economic Trends from the St. Louis Fed provides evidence for a decline in volatility post 1962. Cited is a study by Stock and Watson (”Has the Business Cycle Changed and Why?” NBER Macroeconomic Annual 2002) which examines three different hypotheses relative to the perceived decline.
Interesting correspondence on my piece here.
According to the new Monetary Trends (St. Louis Fed), the Fed seems to have tightened up after double-digit increases in the money supply throughout the summer. The money supply actually fell in September 2003 (% change at annual rate):
Here is a .gif file of the Rumsfeld Memo, which implicitely admits the futility and waste of the war on terror, and, even more implictely, the myth of national defense as provided by socialist means.
300 Alleged Illegal Workers Arrested at 60 Wal-Marts (USA Today): Federal officials arrested what they said were more than 300 illegal workers at 60 Wal-Mart stores across the country early Thursday morning and searched the office of one of the retail chain’s corporate executives.
