Item: In his State of the Union Address, reported the Washington Post for January 26, President Obama “for the first time” did not “hail a newly passed ‘recovery act’ or call for a ‘new jobs bill.’ Instead, he called for a five-year freeze in domestic spending, except for ‘investments’ in education, infrastructure and research.”
During his 1992 presidential campaign, Texan Ross Perot was maligned for his warning that the North American Free Trade Agreement (NAFTA) would cause many American jobs to be outsourced. But it turns out he was right about that “giant sucking sound.” NAFTA went into effect January 1, 1994, and the resultant suction of American jobs to points south — and ultimately west — has seemed almost audible.
In a clear case of having more dollars than sense, America Online (AOL) is undertaking its least palatable acquisition to date: Arianna Huffington’s amalgam of left-wing screeds, The Huffington Post. Ironically, what some might view as a website with a less than favorable view of capitalism went for a king’s ransom of $315 million.
According to a press release for February 2, Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul has announced the first subcommittee hearing for the 112th Congress to take place on Wednesday, February 9 and will focus on the consequences of the Federal Reserve’s policies on job creation.In his statement, Subcommittee Chairman Paul announced:
With the value of the U.S. dollar exponentially declining since the establishment of the Federal Reserve Bank in 1913, it comes as no surprise that many world leaders and international economists have expressed their desire for a new world reserve currency. In light of the global financial crisis, Russia may be moving toward a sound economic solution — gold.
Media mogul Rupert Murdock, whose News Corp. owns and operates scores of daily newspapers, including such standards as the Times of London, the Wall Street Journal, and the gossip-flavored New York Post, is gearing up for his latest media endeavor: a daily newspaper published only on tablet iPad-style computers.
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.”
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.”