Goldilocks Rocks on Black Friday, +8.3% Increase
Professor Mark J. Perry's Blog for Economics and Finance
One of the most outrageous consequences of the war on drugs is the federal crackdown on medical marijuana, which is used by patients to help treat the effects of cancer, glaucoma, HIV-AIDS, chronic pain and nausea, and other severe symptoms associated with serious illnesses. Medical marijuana prescribed by a physician is legal in 12 states, yet federal agents are raiding state-approved dispensaries and preventing patients from having safe access to this drug.
In some "Black Friday bargain hunting," the broader stock market indexes rebounded today by about 1.4% (see chart above, SP=red line, DJ=black and NASDAQ=green), and bank stocks rebounded at almost twice that rate (about 2.5%) as measured by the NASDAQ Bank Index (blue line above).
There are wild cards that need to be kept in mind when you hear income statistics thrown around. One of these wild cards is that most Americans do not stay in the same income brackets throughout their lives. Millions of people move from one bracket to another in just a few years.
Not a lot to be thankful for in Chavez's Venezuela....
Check out the revolutionary "Milton Friedman Choir."
6 reasons the U.S. economy is not going into a recession:
Notice in the chart above that over the last 7 years the Federal Reserve has moved the target Fed Funds rate (blue line) from 6% in early 2001 to 1% for about 12 months from mid-2003 to mid-2004, and then back up 5.25% from mid-2006 to mid-2007, and now it's back down to 4.5%.
FBI's Bullet Lead Analysis Used Flawed Science To Convict Hundreds Of Defendants
According to Chinese Restaurant News, there are nearly 41,000 Chinese restaurants in the United States, three times the number of McDonalds franchise units, and more than the number of McDonald's, Wendy's and Burger King franchises combined!
It is not the market that is rising or falling at any moment, even if we commonly speak as though it were. In truth, prices move in response to the buying and selling decisions of countless investors, who are constantly considering the likely decisions of countless others.
Of all of the major news reports on the failed Senate farm bill (and there were dozens, see the Washington Post article here), I found that this front page San Francisco Chronicle article offered the best public choice insights about the political realities of farm subsidies: