Interesting Inflation News Links (March 23, 2009)

* Teen arrested after carjacking, chase (Kevin O’Neal, Indianapolis Star)

A Sunday night carjacking on the Eastside led to a police chase and the arrest of a 16-year-old driver, according to the Indianapolis Metropolitan Police Department.

* Carology 101: Inflation (Student Voice)

When was the last time you checked your tire pressure? If you are like most people, youve probably never checked. Did you know that tire pressure can affect your gas mileage? Or that it can improve your vehicles performance on the freeway?

* Need to know: M&S revolt … L&G dividends … Vodafone profits (Times Online)

GDP: The economy is expected to be confirmed as having shrunk at a rate of 1.5 per cent in 2008s final quarter when national accounts data are published out on Friday.

* South Madison considers reduction in teachers (Aleasha Sandley, Herald-Bulletin)

PENDLETON An $800,000 budget deficit will force South Madison Community Schools to reduce its number of teachers, preliminarily by 5.5 positions.

* EGYPT: A new call for national strike (Jeffrey Fleishman, Los Angeles Times)

Despite the Egyptian government’s violent reaction last year, a group of young activists has renewed its call for a national strike next month to protest inflation, corruption and political repression.

* Sorry seems to be the hardest word (Ian Lucas, Eastbourne Herald)

Quantitative easing isn’t exactly printing more money, but it’s being designed to have the same effect. But won’t it simply have a negative effect on inflation?

* Obamas Financial Incompetence 1 (KCLO)

Regarding the Obama Administrations economic policy, there are two possibilities. One is that they have some kind of secret strategy for turning the United States into France. One almost has to hope that that is true. At least then we get coherent policy in the short run, even if the coherence is concealed from nearly everybody, and a policy to contend with in the not so short run.

* Headlines vs. inflation (OC Metro)

Are economists causing unnecessary confusion by talking about two different rates of inflation, the headline rate and core inflation?

* National Politics :: RE: Fed going for inflation (Wisconsin State Journal)

The Fed is, however, creating a new liability: the monetary base it creates to buy these bonds. In effect, it s printing $1 trillion of money, and using those funds to buy bonds. Is this inflationary? We hope so! The whole reason for quantitative easing is that normal monetary expansion, printing money to buy short-term debt, has no traction thanks to near-zero rates. Gaining some traction in…

* John C. Doolittle: Cut the budget bill (Steamboat Today)

I am opposed to the omnibus budget bill that was delayed from last year by Speaker of the House Nancy Pelosi primarily because she thought it would be easier to pass after more Democrats won re-election. Nothing but unadulterated partisan politics here.

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