Yesterday’s results for July’s inflation numbers are in, and they’re not particularly heartening. July showed a 1.2% price increase for consumer goods (for the month) which is the highest single month increase in a loooong time. Even removing the food and energy portion, the increase was still .7%, which was about three times what Wall [...]

For a country that popularized the motorized transportation field, and that’s had a multi-generational love affair with the car, saying that Americans are driving less is indication of a serious problem.
According to U.S. Transportation Secretary Mary E. Peters
"We have seen the longest decline in vehicular miles traveled since we started collecting this data,"

The [...]

Last Friday after the market close, IndyMac reported that it was in serious financial trouble. By Monday, the Federal Depositor Insurance Corporation (FDIC) had stepped in and taken over the bank. People had started lining up to withdraw their savings, similar to the bank runs of the Great Depression.
Was their money there?? Of [...]

While going out to brunch this last weekend, I noticed something. I could sit down.
That doesn’t seem like much, but we go to a pretty popular restaurant for our Sunday brunches. It’s a semi-middle class buffet with really good food. The odd thing is that it’s usually packed to the gills during Sunday. [...]

The Federal Reserve yesterday dropped the Discount Rate by .75 basis points, to 2.25%. That, in response over the weekend to the Bear Stearns implosion, and the on-going weakness in the American economy have a number of people up in arms recently.
With all the economists running around with little or no idea what [...]