200811.30
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A Day Late and a Dollar Short

U.S. Rethinks Roles of Fannie, Freddie Isn’t this something we should have addressed before the crisis? Indeed, weren’t there people trying to get changes made at Fannie and Freddie for years? Now, government wants to rethink their roles? Rethink them how? To figure out how best these institutions can benefit politicians? Or the banks who…

200811.30
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The Green New Deal

From Tom Smith at The Right Coast: It looks like we are pouring a lot of money we don’t have into technologies that very well may not work to solve a problem we are not sure we have. It is a mystery to me how investing borrowed dollars in ineffcient sources of energy could be…

200811.28
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Don Boudreaux’ Thanksgiving Wish

Don Boudreaux’ column from the Pittsburgh Tribune Review: The blessing for which we should be most grateful is that we still live in a society in which markets remain the chief means of directing economic activity. Let us give thanks that, despite the many hurdles put in the way of people who make their way…

200811.26
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Economic Report: Personal Income/Spending

According to the Bureau of Economic Analysis and its monthly report on Personal Income/Spending, in the past few months, US consumers have cut back on big-ticket purchases and expenses and started saving for a change. Nominal consumer spending decreased 1.0% for the month of October, the largets decline since September 2001, after a 0.3% decline in last month….

200811.26
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Obama and Farm Subsidies

At his news conference yesterday to introduce Peter Orszag as his budget director, President elect Obama singled out some waste in farm subsidies as an example of the kind of government waste he wants Orszag to find and eliminate: Obama cited a GAO report out yesterday that said from 2003 to 2006, “millionaire farmers” got…

200811.26
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Obama Chooses Paul Volcker as Economic Advisor

Via MarketWatch: Reiterating that the United States is facing an historic economic crisis, President-elect Barack Obama tapped former Federal Reserve Chairman Paul Volcker to run a new White House advisory board tasked with offering independent advice about how to stage an economic recovery. “Paul has been by my side throughout this campaign, providing a deep…

200811.25
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Economic Report: Consumer Confidence

U.S. consumer confidence recovered in the latest month, after plunging to an all-time low in October, the Conference Board reported today. The consumer confidence index jumped to 44.9, from an upwardly revised 38.8 in the month of October. Economists were expecting a reading of 39. Much of the improvement was due to the dramatic fall of gas prices, which perked up consumers…