Interesting Inflation News Links (March 05, 2009)

* Partner gets 7 years in mortgage fraud case (Rochelle Olson, Star Tribune)

A Greenwood man convicted in a $6 million suburban mortgage fraud scheme received the same seven-year prison sentence Wednesday as his codefendant, with a Hennepin County District judge agreeing to free both men on bail pending appeals.

* Chavez orders expropriation of Cargill rice plant (Christopher Toothaker)

President Hugo Chavez ordered the expropriation of a rice-processing plant in Venezuela owned by American food giant Cargill Inc. on Wednesday because the company allegedly was not distributing rice at prices imposed by the government.

* Chavez orders takeover of U.S. rice plant (Newsweek)

CARACAS, Venezuela – President Hugo Chavez ordered the expropriation of a rice-processing plant in Venezuela owned by American food giant Cargill Inc. on Wednesday because the company allegedly was not distributing rice at prices imposed by the government.

* European, British central banks cut half a point (George Frey)

The European Central Bank on Thursday cut its main interest rate by a half percentage point to 1.5 percent, dropping the cost of borrowing in the 16 countries that use the euro to a new record low amid grim economic news.The Frankfurt-based bank joined the Bank of England, which also cut its rates by a half percentage point, to a new low of 0.5 percent, and announced measures to go furth…

* Headlines :: RE: Chavez won’t let Americans starve his people! (Wisconsin State Journal)

Venezuelan President Hugo Chavez has ordered the expropriation of a rice mill, amid a battle with food companies over price regulation.

* Bank of England cuts interest rates to 0.5 percent

The European Central Bank today cut its main interest rate by a half percentage point to 1.5 percent, dropping the cost of borrowing in the 16 countries that use the euro to a new record low amid grim economic news.

* Asda draws in bargain shoppers (Julia Finch, Guardian Unlimited)

The grocers viewed as the best for bargains are continuing to soar ahead of their rivals as shoppers search for ways to cut their weekly food bills.

* So what’s the solution? (Grand Junction Free Press)

Economists have convinced the world that economies naturally converge to steady state growth. If the economy isnt growing something must be wrong and policy levers must be pulled to fix it.

* China set 8% target for economic growth (Times Online)

China’s Premier today set an economic growth target of 8 per cent for a fifth successive year, but in 2009 the difference will be that his country will struggle to meet a goal that it had far exceeded for half a decade.

* Ashfield District Council budget thrown into turmoil by opposition (Stephen Thirkill, Mansfield Chronicle & Advertiser)

Members of the Conservative and Independent Alliance and the Labour Party voted to throw out the ruling Liberal Democrat’s plans during a stormy meeting on Thursday night.

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