With all the commotion over the invasiveness of the naked-body scanners used by the United States Transportation Security Administration (TSA), one question that has been ignored is who is profiting from TSA’s use of the body scanners? Mark Hemingway and Tim Carney at The Examiner discovered the shameful answer: George Soros, Michael Chertoff, and a number of lobbyists.

Last year, conservative pundit Glenn Beck warned his viewers to stock up on clothing for their kids, as he predicted that the price of cotton would increase dramatically. As usual, he was mocked mercilessly for his assertions. Recently, however, a report from the National Inflation Association announced that the cost of cotton has increased by 54 percent, though the huge commodity price increase hasn't made its way onto the shelves of American stores just yet.

William C. Dudley, president of the Federal Reserve Bank of New York, defended the Fed’s recent announcement to print more money (called Quantitative Easing) to stimulate the moribund economy. Dudley, who is also the vice chairman of the Fed’s FOMC (Federal Open Market Committee), and former chief United States economist for Goldman Sachs, said that the decision to increase the supply of money was only to reduce interest rates further and not to devalue the dollar. He said, “We have no goal of pushing the dollar up or down. Our goal is to ease financial conditions and to stimulate a stronger economic expansion and more rapid employment growth.”

California is drowning in public debt. The California Legislative Analyst’s office, which is nominally nonpartisan and objective, projects that for the fiscal year ending June 30, 2011, the state will have a deficit of $6.1 billion — over $150 for one year for every man, woman, and child in California.

New York University economics professor Nouriel Roubini made a name for himself back in 2005 by predicting the Great Recession long before others did. Fortune magazine wrote “In 2005 Roubini said home prices were riding a speculative wave that would soon sink the economy.” The New York Times said he predicted “homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt.” In September, 2006 Roubini warned that “the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence, and, ultimately, a deep recession.”

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