US Manufacturing Shrinks for First Time in 3 Years – AP   “Production fell to a three-year low and a measure of new orders plummeted by the most in more than a decade, suggesting the weakness will likely persist in the coming months.”

Food Inflation Fears as US Crop Prices Surge – Telegraph   “Worries about world food prices are increasing, stoked by a 10pc rise in US corn and wheat prices in just a week. The jump was driven by the current spell of hot, dry weather in the US Midwest, which is suffering record-breaking temperatures in some areas. Similar weather back in 1988, creating one of the most damaging droughts in US history, cut the country’s corn production by more than 30pc.”   Early warning for you!

8,733,461: Workers on Federal ‘Disability’ Exceed Population of New York City – CNS News   “There has been a dramatic shrinkage in the United States over the past 20 years in the number of workers actually employed and earning paychecks per worker who is not employed and is taking federal disability insurance payments.”

Why a 3.66% Interest Rate Is Failing to Stimulate – USA Today   “But a good bit of the problem is that the low rates, supported by the Federal Reserve’s ‘Operation Twist,’ aren’t reaching all parts of the economy. That’s because banks — having learned the lessons of lax lending standards during the credit bubble — have overcorrected, making it impossible for millions of potentially worthy borrowers and homeowners to get access to loans.”

Be Sociable, Share!

•