One day after the Federal Reserve Bank's “Federal Open Market Committee” (FOMC) announced it would create an additional $600 billion in currency over the next eight months, commodities markets skyrocketed as investors frantically sought hedges against the coming inflation. The Federal Reserve Bank, staffed with Keynesian and a few Monetarist school economists, calls the move “quantitative easing.”

globeThere is little growth on the horizon for the global economy, and a significant likelihood of further trouble, believes the International Monetary Fund.

With high-fructose corn syrup suffering from years of bad press, and consumption of the popular sweetener falling to a 20-year low over concerns it might be a factor in the rampant obesity and other health issues raging across the U.S., the Corn Refiners Association (CRA) has applied to the Food and Drug Administration (FDA) to change the name of its profitable product —used in the manufacture of soft drinks, candies, sauces, and scores of other processed food and beverages — to “corn sugar.”

With a straight face, the National Bureau of Economic Research (NBER) announced that the Great Recession ended last June. June of 2009, that is. This made the current recession the longest one since the Great Depression.

BernankeFederal Reserve Board Chairman Ben Bernanke largely whitewashed Federal Reserve responsibility for the housing bubble and resultant economic recession in testimony before the congressional Financial Crisis Inquiry Commission September 2.