That's for sure and from the articles it sure sounds like they are watering down the Bachelors these days, which is extremely uncool for all of those who earned a real one.

I think we need to stop offshore outsourcing and insourcing of jobs which displaces Americans.

I don't think one can have too much education. Take Finland for example, they have the highest number of PhDs and it's because they offer support for study. Real support. That makes their society way more economically competitive but they are not importing workers to displace their citizens either.

They have a very strong labor union and laws.

I think the costs are absurd and there was another article or study showing university administration is bloated and they are lining their pockets. It's the students, professors who are not being paid enough or have enough resources.

Bear in mind in the U.S. pretty much any foreigner can come to study and that never mentions the squeezing out of U.S. citizens, state residents when these very universities get huge subsidies and are supposed to educate it's citizenry first and foremost. So, in terms of supply and demand, your claim is possible.

But they should not be lowering the quality bar to graduate.

I wrote up a piece, Burning Ben, asking the same question. Alright Helicopter Ben is "one of them" and this absurdity that somehow the Fed must operate "in secret" is ridiculous.

But Larry Summers as an alternative? Gag me! I'd be ok with Paul Volcker, esp. considering his recent activities, speeches and the fact the guy really has a pair.

But everybody wanting Ben out, while I completely agree in their points and arguments....

It's kind of like voting for Bush because Gore was such a corrupt, bad trade deal, DLC Democrat.

(nobody talks about NAFTA being a major turning point of so many old school Dems turning into tea party people)

Ya know?

"Why are we still listening to this guy?"

So what (who) is the alternative?

The problem with economic "Glass Bead Games" (Hesse) like my correlation is bigger than yours is that economic alternatives are dependent upon political alternatives. So no matter how big your correlation it means nothing in the real world unless and until there is a political force to act upon it.

What a coincidence! Uncle Ben made me feel so good that I went ahead and wrote out a check for $85,000 and bought a condo for $400,000. What a deal!

Now, the $400,000 condo is (accourding to my local tax assessor) worth $237,000, and I still owe $298,000 on it. Hey Ben, I just love my banker -- 1,900 a month worth. And you? You are the greatest! Steered me to a great investmnt decision And the banks you represent? I congratulate everyone who decides to walk away from the bum investments you steered them to. Sorry if I sound ungrateful -- I just think you guys deserve to share in the losses we have to live with.

Now, as to whether you should get another term at the Fed? Stay on -- we could get someone even more incompetent.
Frank T.

Prime Minister George Papandreou has proposed some austerity measures.

In a much-awaited speech to business and labor leaders, Papandreou said his government would cut the deficit to below an E.U.-mandated ceiling of 3% of gross domestic product within four years, from a forecast 12.7% of GDP this year.
"The deficit will be below the 3% limit of GDP before the end of the first four-year term for the [government], by 2013," he said, adding that Greece would cut the deficit through a series of "structural and permanent measures."
Beginning in 2012, Greece would take measures to start reducing its giant debt burden, expected to surpass 120% of GDP by next year, Papandreou said.
However, the speech was met with skepticism by economists and investors, who said it contained few surprises and fell short of the bold deficit-cutting goals announced this month by the Irish government.
In the bond market, the interest rate spread between the 10-year Greek government bond and its benchmark German counterpart--a measure of credit risk--widened to 222 basis points after the speech, compared with 207 basis points before Papandreou's remarks.

The markets don't believe the talk, and I don't see why they should.

I am looking at this report on total MBS purchased by the Fed....

Official Fed balance sheet is $2.25B, but I haven't dug into these debt purchases and what it means....are they buying worthless debt for 100% of the dollar or? (don't take this as fact, I am doing some research, but if you already are tracking and want to write this up, feel free!)

Nice history, although I think an additional "beyond belief absurdity" video stream should be done on Greenspan.

Great video, how much denial and oblivion can one be?

is the total drug money enough to literally prop up banks? Seems the derivatives market was much larger, but I don't have a tally. It's not that I question illegal funds flowing around, in spite of 9/11

On drug money generally, it's most interesting that in the 80's, most of the Miami boom was funded by drug money, esp. real estate.

Then, drug money and remittances is a huge motivator for the infamous "unlimited migration" agenda. It's big business and billions in revenues....so while things are cloaked into some insult driven rhetoric about "racist xenophobe" for anyone who disagrees with that...there are some serious $$ motivations going on.

Is this particular story referring to opium or all drugs?

This is also why it's so stupid to make marijuana illegal. That could be a legitimate nice cash crop for not only Mexico but also the U.S. and by making it illegal all that's happening is this border movement agenda plus a host of very violent cartels setting up camp in our woods.

Supposedly where I live, there are now reports of a very violent, with machine guns, group hanging out about a mi. E. of me in the woods. This is ridiculous for now locals are in fear to just go take a hike in case they stumble on "something". Even more ridiculous, people (locals) have been growing this stuff in the woods for a long time, just without the violence.

WSJ:

Eurostat, industrial production in October declined 0.6% from September and was down 11.1% from a year earlier. The annual fall was the 18th straight year-to-year decline for this measure.

You act like you haven't seen this act before. I suggest reading about the history of American intervention in Latin America, and Smedley Butler.
The reason we send in the Marines is because nations default on their debts to American banks. Did the American public get the rewards for the inevitable loss of life? Of course not. The money then goes to the American banks, as Gawd intended.