An anonymous reader writes “For those with a stake in the opposition of Jim Prentice’s C-61, the Canadian DMCA, this previous week’s election results will be displeasing. The Conservative Party, which promised to reintroduce the DMCA if elected, gained 19 seats this election, mostly at the expense of the flagging liberal celebration, a mere 12 short of a majority government. The increase in Conservative representation, as well as the relatively low profile of this issue amidst other, more pressing concerns, increases the likelihood that the son of C-61 will come to fruition. On a positive note, the number of MPs supporting Geist’s copyright pledge has increased to 34. Given the Conservative Party’s historic disregard of public view, however, the efforts of the copyright-pledge MPs will have to rally the full opposition across three major parties in order to defeat the bill. A mere 12 MPs now stand between the Canadian public and the MAFIAA’s hungry maw.”

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Filed under: Housing, Federal Reserve, Recession

With the prices of oil and housing dropping, what companies charge for a number of key goods and services could start to fall. Firms may have to drop the prices of what they charge for everything from clothing to cars to toothpaste.

Instead of inflation being the next great enemy of the economy, it could be deflation that actually causes a wave of trouble.

According to The Wall Street Journal (subscription required), “the financial shock and a faltering economy can set the stage for a deflationary environment.” The paper goes on to state that the Fed thinks the chances of that are unlikely. This means the bureau will probably not drop rates again. Superior to keep them high and push the cost of money up a bit.

The Fed probably has it wrong. Leaving aside other factors, housing prices have come down over 20% from their peaks in most places. In hard hit geographic areas like California and Florida, the correction has been closer to 30%. To make matters worse, home prices are still falling.

Continue reading Is deflation the next economic disaster?

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GalaticGrub writes “A pair of paralyzed monkeys regained the ability to move their arms after researchers wired individual neurons to the monkeys’ arm muscles. A team of researchers at the University of Washington temporarily paralyzed each monkey’s arm, then rerouted brain signals from a single neuron in the motor cortex around the blocked nerve pathway via a computer. When the neuron fired above a certain rate, the computer translated the signal into a jolt of electricity to the arm muscle, causing it to contract. The monkeys practiced moving their arms by playing a video game.”

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Life-saving heart attack plan - Channel 4 News
The government plans a national roll out of the heart attack treatment which could save hundreds of lives a year. The health secretary wants angioplasty, inflating a small balloon in a blocked coronary artery, rolled out across the country at

GOALFLASHES AND MAJOR INCIDENTS (all times BST) - BBC Sport
1830: Well, I think we might be coming to an end with regard to today’s live text. I must admit, the drama has exceeded expectations. I might have an atrocious memory but even I won’t forget the Stoke v Spurs match in quite some time. Many thanks for

Secret, double life of a Walgreens druggist - Minneapolis Star Tribune
Leg620, you like I’m sure most people, are totally clueless as to what a pharmacist does or how long we go to school for (I like most … read more nowadays went for 8 years and have a Pharm.D.) I’m a pharmacist who works in both the retail and

PricewaterhouseCoopers, Google named region’s ideal workplaces - Detroit Free Press
Southeast Michigan employers take note: If you want to be one of the top workplaces in the region, providing generous pay and benefits isn’t enough. That’s the message sent by 23,372 employees who participated in The Detroit Free Press Top Workplaces

England - Team of the Week, October 18-19, 2008 - ESPN Soccernet
The Premier League was treated to three goalless draws yesterday. Not the ideal value for money if you’re a fan but Craig Gordon will be pleased with his role in that statistic. The Scotsman was in fine form in the Sunderland goal, denying Jimmy

Ministers accused of trying to ‘fiddle’ election laws - Daily Telegraph
The move to impose a £11,000 cap on expenses once any candidate begins campaigning will debated on Monday by MPs as part of the Political Parties and Elections Bill. Both the Conservatives and Labour privately admit the measure is designed to combat

McCain states Obama’s record fundraising jeopardizes post-Watergate - Minneapolis Star Tribune
Barack has drawn in more than 3 million donors, average donation $86. Most of this money is from the good people of this country each … read more giving a tiny to change our country. WESTERVILLE, Ohio - Evoking “Joe the Plumber” in his pivotal

For meth addicts, a new hope to get clean - AZCentral.com
Shane Nelson was numb to the pain, but he could hear the pops and cracks as a dentist extracted some of the most obvious vestiges of his 14-year addiction to methamphetamine. Nelson’s eyes caught a glimpse of each decayed tooth as it was pulled from

Sarkozy dismay as Dominique Strauss-Kahn, French head of IMF, in sex - Times On the web
A one-night stand has endangered the stellar career of the French head of the International Monetary Fund and dismayed President Sarkozy as he seeks to put a French stamp on a new world financial order. The news that Dominique Strauss-Kahn, 59, is

Priest draws inspiration from saintly relative - Star-Banner
OCALA - Outside a corner window of his room at the New Horizon nursing home, the world passes by. Automobiles crawl across the parking lot as people scurry about the sidewalk. It’s a cloudy spring afternoon with a muggy breeze. JANNET WALSH/STAR-BANNER The

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radioweather writes “Like the current stock market rebound, Arctic sea ice is making a large rally over the record low set last year. According to the Alaskan IARC-JAXA website, satellite data which shows sea ice extent as of 10/14/08 was 7,064,219 square kilometers, when compared to a year ago 10/14/08 it was 5,487,656 square kilometers. The one-day gain between 10/13/08 and 10/14/08 of 3.8% is also quite impressive. On Might 5th, The National Snow and Ice Data Center suggested the possibility of an ice-free north pole in 2008, but so far, this year has been a banner year for sea ice recovery.”

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Filed under: Products and services, Columns, Sears Holdings (SHLD), Recession, Financial Crisis

Welcome to Way Off Wall Street, a column dedicated to providing Main Street thoughts on topics of interest to investors. Each installment highlights the views of Americans who are far removed from the canyons of Wall Street — and who often see things more clearly as a result.

The current economic downturn began in real estate, ripping through the construction industry as it went. The banks began to crumble next, as declining real estate values pulled their phantom capital support structure from beneath them.

Then Wall Street began quaking, as good faith and trust were swept aside by the realities of mismanagement, fraud, and corruption. Then the insurance industry began to take a kick in the teeth due to its ties to Wall Street’s derivatives securities mill. Soon, we’ll all bear the brunt of yet another round of insurance premium increases as a result.

Continue reading Way Off Wall Street: Retail is the next economic train wreck; expect a Black Friday bust

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