Have a Great (l)abor Day …

For Spend Matters readers in the US, it's the end of summer. Labor Day marks the official end of the most relaxing months of the year (and given my East Coast preppy roots, the end of G&Ts, linen, and seersucker as well, at least until next spring). Now, I probably tend to celebrate the holiday differently than most people by looking at the benefits of inexpensive global labor, rather than paying heed to the history of the Labor movement, but heck, any excuse to spend an extra day with the family is good enough for me. But if you want to get economically philosophical this weekend and begin to project future economic growth and unemployment rates, check out this National Review Column "Targeting the Federal Funds Rate". In it, Paul Hoffmeister, a private sector economist, talks about potential scenarios if the Fed moves rates. And he also offers some history lessons as well. It's perfect reading for curling about around the global sourcing campfire and teaching the kids why marshmallows cost about the same today as they did 20 years ago, despite inflation.

Jason Busch

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