Monday Reading – Get Your Head out of the Ground

  1. What exactly did the Fed cuts accomplish?  I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York.
  2. City Budgets a mess.  Sales tax collections were down (7.5)% compared to January 2007, and were $(71.9) million short of the monthly forecast. This is the largest percentage year over year decrease since at least FY 1991.
  3. What do you get for 736 Million?  Slavery apparently…The private construction company, First Kuwaiti General Trading & Contracting, declined repeatedly to provide safety inspectors with reports on fire protection systems at the embassy, according to reports released by Waxman. First Kuwaiti, based in Kuwait, remains the target of a separate US criminal probe into allegations of labour trafficking.
  4. Has the Iraq War affected the economy?  That’s not what the Republicans are saying.   The former World Bank vice-president yesterday said the war had, so far, cost the US something like $US3trillion ($3.3 trillion) compared with the $US50-$US60-billion predicted in 2003.
  5. How many more people can we send to jail?  And we all know an environment filled with gangs, violence, drugs and raping is great for rehabilitation.  Can’t wait for them to move next to me.
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