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.

BernankeFederal Reserve Chairman Ben Bernanke told the Economic Club of Washington that the economy is recovering, even as it confronts “formidable headwinds.”

On November 19, the House Financial Services Committee advanced a bill that calls for the General Accounting Office to conduct a comprehensive audit of the Federal Reserve by the end of 2010.

The Obama administration has recently reduced by 60,000 the number of jobs created or preserved by stimulus funds. The acknowledged overstatement of jobs underscores the problem with all government statistics: There is an inherent bias to report success and no real incentive to report problems.

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