Greenspan image tarnished by newly released documents – The Washington Post

Tags

Economics, federal reserve, liberty, us fed

show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.

via Greenspan image tarnished by newly released documents – The Washington Post.

More proof that central economic planning fails. Always. Abolish the Fed!! and it’s US GOSPLAN.

Economic History of the First Thanksgiving

Tags

Economics, private property, socialism, thanksgiving

Occupy Plymouth Colony: How A Failed Commune Led To Thanksgiving – Forbes.

A lesson not taught in government schools, the original Plymouth Rock colony was a “socialist paradise”. Oops, this paradise almost staved it’s people. Realizing the error, the colony switched to a private property/free market organization which produced enough food for all. Now that is something to be Thankful for!

Are we modern Americans smart enough to learn from our own history?

Hussman Funds Talking Points for the “Occupy Wall Street” Protesters

Tags

Economics, finance, occupy wall street

Hussman Funds – Weekly Market Comment: Talking Points for the “Occupy Wall Street” Protesters – October 10, 2011.

From a real economist.

• “Failure” only means that corporate bondholders don’t get every penny
• The Federal Reserve’s purchases of Fannie Mae’s and Freddie Mac’s debt obligations were illegal
• Creating shell companies to buy Wall Street’s bad assets is not “discounting,” and was therefore also illegal
• The skewed distribution of wealth in the U.S. is worsened by policies that misallocate capital and divert public funds to bail out investments that have already gone bad.

Coffee Prices to Rise 40%

Tags

coffee, Economics, inflation

Tell me it’s not true!!

Brazil, the world’s biggest coffee grower, is facing the risk of frost after hail this month, raising the prospect of a 40 percent jump in bean costs after Kraft Foods Inc. and J.M. Smucker Co. already increased prices.

Arabica beans have already jumped 24 percent this year on signs demand is outpacing supply. The shortage will be 6.2 million bags in the crop year starting in October, according to Rabobank International. Kraft, maker of Maxwell House coffee, raised prices three times last year. It estimated in February that North American commodity costs would increase $700 million to $800 million this year, or about 1.5 percent of 2010 revenue.

Link

Well, this is what happens when central banks create money from nothing.

Pro-Labor Protests in Wisconsin

Tags

Economics, Political, protests, wisconsin

From Yahoo News:

As many as 40,000 people swarmed the Capitol on Friday, raising the noise in its rotunda to ear-splitting levels as they rallied to block Republican Gov. Scott Walker’s efforts to ease Wisconsin’s budget woes by cutting many government workers’ pay, benefits and bargaining rights.

Some of the crowd photos in the slide show linked to in the article look like what we’ve seen in the middle east in the last month or so.  At least the mainstream media has found a state other than Arizona to ridicule for a while.