What is Ahead

Newspaper Circulation Is Down 3.6%.

The newspapers' decline goes on. Overall circulation is down 3.6%. While a competing medium's decline may be welcome news to the Postal Service, it is not a sanguine sign of health in the ad market.

Advertising has become more cyclical with each passing decade. With the economy in recession since last summer and a large mess to clean up after the financial excesses of the financial excesses of the last decade, do not expect a quick rebound.

What Are Is the Fed Expected to Do Next?

Are the Credit Crisis and the Unrelated?

If you think the answer is "no," Reuven Brenner connects the dots for you.

Might the Fed Pause on Its Headlong Rush Into Inflation?

Today's Wall Street Journal has a page one analysis of the decision facing next week's meeting of the Federal Open market Committee. Will the FOMC consider the inflation dragon that is looming larger and larger? Greg Ip tells us "The Federal Reserve is likely to cut its short-term interest rate by a quarter of a percentage point next week -- but then may be ready for a breather."

So far the run on the dollar and the inflation's reemergence has not engaged the
Fed's attention. The more's the pity. With imports at 17 percent of U.S. GDP, a 10 percent drop in the dollar is equivalent to a $240 billion dollar tax hike. An extra one percent on the CPI takes $138 billion out of Americans' purchasing power, about as much as the stimulus package adds.


Vincent Reinhart, a former Fed Director of Monetary Affairs and now with the Heritage foundation tells us the problems facing our monetary mavens. The tittle of his commentary reveals the larger global issues that confront us: "Behind the Food-Price Riots."

Can We Depend on LIBOR?

Simplifying Mutual Fund Perspectuses

The Wall Street Journal's Take On the Coal Plant in Western Kansas

The Wall Street Journal editorial page has weighed in on the state's decision to deny the Sunflower Electric Cooperative to build a coal plant in Western Kansas. Listen to Joe Rago editorial writer for the Journal:

AbeBooks Buys Christlands

AbeBooks is an interesting online book seller. Internet Retailer ranks them #70 among the top 500 online retailers. They have been quietly buying up players in the business:

"Gaining market share and widening the reach of its e-commerce technologies, AbeBooks Inc. has acquired Chrislands, a company that builds, hosts and maintains online bookstores for used booksellers around the world. Web-only retailer AbeBooks, which sells new, used and rare books from 13,500 registered booksellers, did not disclose terms of the acquisition."

The Internet Retailer tells us "This is the fourth acquisition by AbeBooks in as many years"