It is now illegal in New York City to have ashtrays in public view.

An article in the Seattle Times, Low interest rates lure young renters to homeownership, provides some insight into how the home market can be rising while the rental market is falling.  Low interest rates.  It also does a good job of repeating all of the usual fallacies about home ownership:

• “I’ve just been spending my money for the last 10 years, and it’d be nice to have my own place,”

Although Debts Could Swallow Up Tax Cut Cash, Scott Weigum, 33, a chemistry teacher from Bismarck, N.D. says, “If you’re a team player, you say (Bush) is doing this to stimulate the economy. So you take the ball and run with it.”

The Economist says American banks “are raking in record profits,” due in part to luck, easy money and high property prices.  Of course, Dr.

Sounds as though the “free market” Bush Administration is trying to engage in deforestation of North America in its quest to expand the pages of the Federal Register.  The saying that “the apple does not fall far from the tree” certainly holds when we compare the administrations of Bush I and Bush II.

Posted by Bill Anderson

In recent weeks, the stock market has staged a mild rally. Though the most recent unemployment numbers are well over six percent, Republicans, as well as a few market analysts, are claiming that the long overdue economic recovery has arrived. While I wish that were the case, the facts demonstrate otherwise; this is not a recovery, but simply an unsustainable mini-boom that makes the long-term economic picture even worse.

Malls: Death of an American Icon (CNN.com): After turning our backs on Main Street and fleeing to the suburbs, Americans are looking for a sense of place. We’re fixing up houses in the older parts of town and spending more of our free time in newly-revived downtowns. And when we want to do serious shopping, we head to upscale mega-malls and big-box stores such as Costco, Home Depot and Target, even if it means driving a little farther.

A wonderful piece on texbook writing from the Chronicle of Higher Education : “To win a contract, you must create a dazzling book proposal -- a 10-page document that demonstrates your expertise, your ability to write simultaneously to a Harvard Ph.D. and the pimply kid slinging burgers at Wendy’s, your skill in smearing a patina of innovation over crass imitation, and your firm, unbiased belief that the book will enhance the publisher’s reputation as a leading-edge moneymaker.

The Middle East Online, UK reports:

“The US-led administration in Iraq is set to phase out the New Iraqi Dinar introduced in 1991 and bearing the image of deposed president Saddam Hussein, an official involved in the project said Monday.”

“The currency is to be replaced by the so-called Swiss Dinar, in circulation for nearly 50 years until international sanctions were imposed on Baghdad in 1990 in response to its invasion of neighbouring Kuwait.”

How Much Does it Cost Not to Go to the Gym? (NYTimes): “Economists describe this as ‘time-inconsistent behavior.’ When the benefits of an action are far in the future and the costs are immediate, people do not give the benefits much weight. Tomorrow’s buff body loses out to the dread of today’s workout, and a reduced risk of cancer is obscured by the pleasure of a cigarette.