Interesting Inflation News Links (February 28, 2009)

* Eurozone unemployment highest for more than two years (Sarah Arnott, The Independent Online)

More than a quarter of a million jobs were lost in the eurozone last month, taking the unemployment rate up to 8.2 per cent, its highest level in more than two years.

* US economic growth dives by 6.2% in fastest fall since 1982 (Stephen Foley, The Independent Online)

US consumers spent far less in the shops in the final months of last year than was first thought, and the country’s GDP shrank far more than originally estimated as a result.

* State’s budget deficit making this year’s cuts more painful (Gannett News Service)

Gov. Jon S. Corzine’s been wielding a budget scalpel in his first three years in office. Though state spending has risen overall, the work force has been trimmed 5 percent, through attrition and early retirements. Management efficiencies have sought to contain operating costs, although generally programs haven’t been phased out.

* BoE prepares for ‘step into the unknown’ (The Scotsman)

Economists say the Monetary Policy Committee is likely to announce the immediate start of so-called “quantitative easing” on Thursday after applying to the Treasury for permission last month.

* Mugabe uses birthday bash to rebuke white farmers

With his nation’s economy in shambles, President Robert Mugabe threw himself a lavish 85th birthday party Saturday, using the opportunity to call on Zimbabwe’s last white farmers to leave.”Land distribution will continue. It will not stop,” Mugabe said in Chinhoyi, 60 miles (100 kilometers) northwest of Harare. “The few remaining white farmers should quickly vacate their farms as they ha…

* Board approves increases in campus housing costs (The Houstonian)

In the fall of 2009, dining and housing rates at Sam Houston State University are expected to increase after the Texas State University System Board of Regents approved the move earlier this month.

* Calling all BMW dairy farmers (John Donworth, The Irish Independent)

How many times during the year do I mention Moorepark as being a source of information for various articles?

* Venezuela’s Chavez sends troops to rice processors

President Hugo Chavez on Saturday ordered troops to intervene in Venezuelan rice processing businesses, saying some have balked at producing under regulated prices.

* Yesterday’s heroes must come back from Bretton Woods to save us (William Keegan, Guardian Unlimited)

Keynes was no socialist. He had seen Soviet communism at work first hand, and, unlike some of his contemporaries, drew the right conclusions. In common with Joseph Schumpeter – one of his many intellectual sparring partners – Keynes wished to save capitalism from itself. Schumpeter was a greater believer than Keynes in the so-called “creative destruction” of capitalism but, interestingly, more …

* Voices: Jobs without wealth (Joplin Globe)

Like the Roosevelt plan, the Obama plan creates jobs without creating wealth. That is why government money is needed.

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