unemploymentThe U.S. Bureau of Labor Statistics (BLS) reported that the unemployment rate in the United States increased to 9.6 percent during the month of August. The BLS press release may have been tweaked by politicians, as it read that the “unemployment rate was about unchanged at 9.6 percent.” By “about unchanged,” the bureaucrats at the BLS should have written “increased from 9.5 to 9.6 percent.”

BernankeFederal Reserve Board Chairman Ben Bernanke largely whitewashed Federal Reserve responsibility for the housing bubble and resultant economic recession in testimony before the congressional Financial Crisis Inquiry Commission September 2.

US economy vs JapanJust one week after James Bullard of the St. Louis branch of the Federal Reserve Bank released his August 6 paper declaring that “the U.S. is closer to a Japanese-style outcome today than at any time in recent history” (meaning that the United States will likely have decades of economic stagnation, which Bullard blames on “deflation”), the news media have taken up a chorus against the bogeyman of “deflation” to explain the need for further social spending by the government and more debasement of the U.S. dollar (causing consumer prices to rise through inflation).

“Surprise! Banks help more homeowners than Obama” is the headline of an August 30 CNN Money report.

taxesItem: Treasury Secretary Timothy Geithner, as reported by AP/CBS on August 3, said that “it would be ‘deeply irresponsible’ for the Obama administration to support a wholesale extension of Bush-era tax cuts, including breaks for the wealthy.”