Fed Chairwoman Janet Yellen and the policies of the President who appointed her

From msn.com: Yellen says US families need to boost savings By Martin Crutsinger of Associated Press WASHINGTON (AP) — The Great Recession showed that a large number of American families are “extraordinarily vulnerable” to financial setbacks because they have few assets to fall back on, Federal Reserve Chair Janet Yellen said Thursday.Yellen said a Fed …

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Socialism in action!

The very fortunately late President Hugo Chavez was going to show all of us greedy capitalists just how superior socialism was! Venezuela’s Newest Shortage: Breast Implants Caracas, Venezuela — September 15, 2014, 8:45 AM ET — By Hannah Dreier, Associated Press Venezuela’s chronic shortages have begun to encroach on a cultural cornerstone: the boob job. …

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Economics 101: Maybe going on strike for higher wages when your jobs are already being replaced by robots isn’t the wisest idea

From USA Today: Thousands of fast-food workers strike; arrests made By Bruce Horovitz, USA TODAY 6:47 p.m. EDT September 4, 2014 The fast-food industry suffered some image indigestion Thursday when more than 430 workers demonstrating for higher wages in dozens of cities were arrested, organizers estimate. Those arrested included Rep. Gwen Moore, D-Wis., in West …

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We told you so: The First Street Journal scooped CNBC by two years!

Our raconteur restaurateur said, a couple of days ago, “That my friend, is the exact definition of economics. Learn people, know economics.” From CNBC: Fed: US consumers have decided to ‘hoard money’ Jeff Cox | @JeffCoxCNBCcom | Tuesday, 2 Sep 2014 | 3:19 PM ET One of the great mysteries of the post-financial crisis world is why the …

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The work ethic

My darling bride (of 35 years, 3 months and 14 days) was watching “Chopped” on the Food Network yesterday. Now, I’m not a fan of that kind of competition show, because it puts chefs in competition with each other in a tightly timed format, and creativity in cooking takes some consideration. It seems to me …

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Economics 101: Labor Day and the American economy under President Obama

From The Philadelphia Inquirer: Five years after recession, American workers are scared, cautious, and worse off By Jane M Von Bergen, Philadelphia Inquirer Staff Writer | Published Monday, September 1, 2014, 1:08 AM When the phone call came, Anthony Reynolds, a big man with a ready laugh, cried like a baby.His ex-wife, living in Texas, …

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Economics 101: It doesn’t matter how liberal you are, eventually you have to do something radically conservative like pay your bills

We have previously noted, in our 18th Century Technology category, the financial travails of newspapers these days. But it’s not just newspapers, and even companies owned and run by liberals are not immune from market forces: Bloodbath at CNN, HLN: Axing of 550 Jobs ‘Imminent’ Today’s news of a coming bloodbath at CNN and HLN …

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Making some sense on welfare in New Mexico

From the Associated Press, via MSN Money: State proposes work requirement for food stamps By Barry Massey SANTA FE, N.M. (AP) – Gov. Susana Martinez’s administration proposes to re-impose and broaden work-related requirements on low-income New Mexicans to qualify for food stamps. Starting in October, the state plans to restore a 20-hour-a-week work requirement for …

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Education spending in Philadelphia

From The Philadelphia Inquirer: Study says more money hasn’t helped Philadelphia schools Martha Woodall, Philadelphia Inquirer Staff Writer | Published Saturday, August 2, 2014, 1:07 AM The day after state legislators canceled a vote on a cigarette tax to benefit Philadelphia schools, a Harrisburg think tank released a report that said the additional money the …

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