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Ford Motor Company disclosed on December 21 that it is offering to buy out 41,000 United Auto Workers (UAW) union members with early retirement deals as the company attempts to reduce payroll costs and return to profitability by 2011.

BernankeThe Federal Reserve decided on December 16 to keep interest rates at historic lows near zero percent. The Fed released a statement declaring that even though there are signs of improvement, economic conditions “are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”

joblessNew claims for unemployment benefits rose more than analysts expected last week, while an unexpected narrowing in the trade gap in October provided some indication that the U.S. economy is steadily growing.

gold coinsMany years ago, John D. Rockefeller, Sr. famously stated, “Competition is a sin.” He preferred a monopoly, the very antithesis of economic freedom, in order to increase profits.

BUck KNives“The Buck knife saved my leg and maybe my life at least once when I carelessly caught a pant leg in the anchor winch.” So writes “Old Fool,” the retired aviator and mariner who writes a colorful blog on various and sundry things at www.oldfool.org.

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