Why do most people ignore ads on the web, even if they are amusing or interesting, wonders BBC technology analyst Bill Thompson.

“Globalization and over-consumption combine to topple America’s strong-dollar tradition,” says Robertson Morrow in the American Conservative.

The health of the labor market is not only a good indicator of where the economy stands in the course of the business cycle; it has huge political implications for the party in power, if only because it is the economic indicator that the press and voters focus on most intensely. Hence, the newest job numbers spell continuing trouble for Bush: “Jobless claims rise to 439,000“ (CNN.com).

Charitable giving tracks the business cycle: “Churches Feeling Pinch of Slow Economy“ (Stevens Point Journal)

Some bad news for proscuitto lovers: “Imported Foods Costlier as Euro Dominates the Dollar“ (NYT). In fact, “Import Prices Rise 0.8% in June“ (Reuters)

Thanks to a couple of senators who don’t always act like intellectual bodyguards of the House of Bush, Rumsfeld admits to $3.9 billion a month as the cost of the occupation of Iraq. Given Pentagon financial fibs, it’s probably double that, of course. Meanwhile, Bush describes military dictatorship as freedom.  

“US Prints Iraqi Dinar Despite its ‘Face’ Value“ (Baltimore Sun): “Every day, with the blessing of U.S. officials, Iraqi government printing presses produce 4 million portraits of Saddam Hussein. Hussein is rendered in purple ink against a filigreed pink and blue background, in a pose reminiscent of George Washington.

See Dinar a Money Maker for British Printer (Reuters) and the Fact Sheet from the State Department’s Bureau of Near Eastern Affairs (State Department)! 

“Continuing Jobless Claims Hit 20-year High” (Reuters): “The number of jobless Americans receiving benefits hit its highest point in over 20 years last month, and new claims for jobless aid unexpectedly rose again last week, the government said on Thursday.”

It’s terribly amusing to see how writers go about explaining why lower prices are actually a terrible thing to be dreaded by one and all. Here is CNN’s latest attempt (”Deflation Worries“): “During periods of true deflation, consumers tend to hold off on purchases, especially big ones. Why buy a new car now when it will it be cheaper later on?

Spikes in Cable Rates Set Off Anger (USAToday.com): “The possibility of a federal showdown over rising cable prices — and the rigor of the Federal Communications Commission’s oversight of the industry — grew Tuesday after the FCC reported that prices rose more than five times faster than inflation in the year ended July 2002. Rates for the most popular basic package — including CNN, ESPN, MTV and other top channels — soared 8.2%, to $40.11 a month, while the cost of living was up 1.5%.