200712.21
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Energetic Pork

The WSJ has an editorial on the recently signed Energy Bill: The White House is boasting that the energy bill President Bush signed on Wednesday is actually less ambitious than the agenda proposed in his State of the Union address earlier this year. That’s praising with faint damns. As recently as last week, it seemed…

200712.21
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Singapore Sling

Merrill Lynch is the latest US financial institution to go hat in hand to a state investment agency: HONG KONG (MarketWatch) — Merrill Lynch & Co is in advanced talks to receive a $5 billion cash infusion from Singapore’s state investment company Temasek Holdings Ltd., becoming the latest among a number of blue chip Wall…

200712.20
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Own to Rent: Not a Good Idea

Doug Wilson has an article at TechCentralStation about a proposal to allow foreclosed homeowners to remain in their homes by paying a fair market rent to their former creditors: But, ironically, Dean Baker, an economist at the liberal Washington-based Center for Economic and Policy Research, has proposed a cheap, ingenious fix that would alter both…

200712.20
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Dollar Rising from the Dead

FRANKFURT, Germany (AP) — The dollar continued to make gains against the pound and euro Thursday amid mixed data on the U.S. economy.The 13-nation euro bought $1.4335 in afternoon European trading, down from $1.4381 in New York late Wednesday. The pound dropped to $1.9820 from $1.9966. The sentiment on the dollar had become so negative…

200712.20
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Anti Americans

In a WSJ/NBC News poll, Americans display animosity toward immigration and globalization. That both of these issues have been good for the US seems not to matter in the least: The fear of globalization could lead to protectionism as politicians pander to the public’s fears. The greatest fear I have about our economy, other than…

200712.19
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Summers Tax Cut?

The WSJ has an article today with the headline, “Ex-Treasury Secretary Calls for Tax Cut, Spending Plan”. After reading Summers speech before The Brookings Institute though I would have to say that the headline is a little misleading. Fiscal stimulus is critical but could be counterproductive if it is not timely, targeted and temporary. Gene…

200712.18
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America on Sale for Canadians

The Canadian dollar is at about parity with the US dollar now after years of trading at a discount. The change has come rapidly; the Loony was trading at about 85 cents as recently as February of this year. The change in the currency value is impacting trade between the two countries. The article linked…

200712.18
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Europeans Discover Supply Side Economics

At a time when every Democratic candidate for President is proposing some kind of tax increase, it is interesting to see Europe heading in the opposite direction. Admittedly most of the tax reductions are on the corporate side but even personal rates are being reduced. Jurgen Reinhoudt has a good article at The American on…

200712.18
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Farm Bill Business as Usual

With farm commodity prices as high as they are one would think that something like the Farm Bill would be unnecessary. That might be true if the Farm Bill were about helping farmers; the fact that this monstrosity passed just proves that the Farm Bill is not about helping farmers – its about helping politicians…