Business News Update

Inflation

Total consumer inflation was 0.3% in September. Consumer prices fell in August.

Annualized inflation rates:

September 1977 – 6.6%
September 1987 – 4.3%
September 1997 – 2.1%
September 2007 – 2.7%

Value Investing 101

A consortium of big private banks led by Citigroup is putting together a massive fund to invest in mortgage-backed securities.

This is a no-brainer. The time to be buying mortgage-backed securities is right now, when the Lithium and Xanax brigades on Wall St. are gloomy and anxious about the mortgage markets. Buy low, sell high. Not vice-versa.

Port Security

After a number of frustrating delays DHS/TSA is ready to roll out that automated system for checking the backgrounds of workers at our seaports. The motivation is to try to help prevent, you know, terrorists from killing lots of people.

Here’s a link to a statement from which you can obtain some of the details of the program. The media’s accounts of this development were so laden with anti-Bush/DHS agendas they were useless, in addition to being redundant/redundant.

FBC

Fox Business Channel debuted this week.

I haven’t watched. I presume I’ve missed out on lots of T&A. Oh, well, as a fallback there’s a Hooters nearby.

Tax Free

The U.S. House voted to extend for another four years the moratorium on state and local taxes on Internet access.

That ban on Internet taxes first was enacted in 1998. The extension thereof easily will be approved in the Senate and then signed into law.

Gray Lady

Jim Addison did a post yesterday (EST) on Morgan Stanley’s decision to bail out of the decaying cesspool known as the New York Times. Check it out if you’ve not done so already; it’s a good read.

Ye Olde Gold Standard
Rush Limbaugh Challenge Update II