News
Fox News | After Gas Pains, Consumers Hit With Skyrocketing Grocery Bill
Now, a trip to the local supermarket can be as shocking as a stop at the gas station. According to the U.S. Labor Department, food prices climbed 3.9 percent last month. It's the biggest spike since November 1974.
CNBC | Euro's Collapse is not 'Unthinkable'
I know some people think its unthinkable…I don’t think its unthinkable," Buffet said in an interview.
CNBC | Portuguese Premier Resigns After Austerity is Rejected
Portuguese Prime Minister Jose Socrates submitted his resignation Wednesday after parliament rejected his minority Socialist government's latests austerity measures.
Econ Comments
Fox News | Bernanke says bank overhaul will help small banks
Bernanke said it would be important for the banks to adapt to the changing regulatory environment, in remarks to the annual convention in San Diego of small and medium sized banks. Baernanke acknowledged their concerns about the new law. But he said most of the requirements are aimed at the country's biggest banks and not them.
CNN: Money | Fed testing inflation-busting tool
The world is awash in dollars, but the Fed wants you to know it hasn't forgotten about the need to clean up after itself -- one of these days.
CNN: Money | Bernanke vs. the robo-banks
Computers making lending decisions don't sit well with Fed chief Ben Bernanke.
Bloomberg | Japan Earthquake Might Hasten Bernanke's Exit: Caroline Baum
A natural disaster qualifies as a supply shock. For the graphically inclined, this is represented by an inward shift, to the left, of the supply curve. It describes what happens when producers provide fewer goods at any given price than they did before. The result is lower output and higher prices.
The Atlantic | Should We Celebrate the Fed's Record $82 Billion Profit?
This week the Federal Reserve announced that it made a profit of $82 billion in 2010. That's a new record, breaking last year's previous record high of $53 billion. On pretty much any level, $82 billion is a lot of money. Where did it come from, and who should celebrate these profits?
WSJ | Don't Keep Rates Too Low for Too Long
The ECB will do what's necessary to maintain price stability in the euro zone.
Ludwig von Mises Institute | The Japanese Currency Intervention
How Does Disaster Promote a Strong Currency?
Ludwig von Mises Institute | Over to You, H. Parker Willis
"Commercial banks have seemed to apply themselves to the pursuit of illiquidity, while the Federal Reserve has devoted itself to the black arts of central planning."
Blogs
CalculatedRisk | Report: Portugal Bailout may be between 50 billion and 70 billion euros
It appears a bailout is inevitable and imminent. Here are the 2 year (6.7%), 5 year (8.2%) and 10 year (7.7%) yields on Portuguese government debt - all at new highs.
Curious Capitalist | Portugal and the political perils of austerity
The implications of what has just happened in this small European nation are huge for the developed world. Portugal gives us a glimpse into the political dangers facing the budget-cutting leaders of the indebted industrialized economies, while also showing us the folly of how Europe is trying to resolve its sovereign debt crisis. Here's what I mean:
