First-time unemployment claims continue to increase at a faster pace than expected. “The Labor Department said the number of claims in the week ending July 25 rose by 25,000 from an upwardly revised figure the previous week,” the Agence France Press reported July 30.
In another example of turning lemonade into lemons in economically troubled times, the federal minimum wage increased yesterday from $6.55 an hour to $7.25 an hour. It's certainly a fashionable measure, but will it actually improve the lot of low-income workers?
Even the mass media is starting to take notice of the longtime cozy relationship that both the U.S. Treasury Department and the Federal Reserve Bank have with Goldman Sachs, a major Wall Street bank holding company and Democratic Party donor.
If you understand the relative superiority of the free market, none of our government's recent business bailouts will find favor with you. Yet, while Uncle Sam's involvement in the auto and banking sectors is bad enough, nothing is more bone-chilling than proposals to bail out media.