BEIJING (AP) -- China dropped its politically volatile policy of linking its currency to the U.S. dollar but retained controls on its exchange rate, switching the link to a basket of foreign currencies in a move that could push up the price of Chinese exports to the United States and Europe.

China dumps dollar in favor of basket of currencies

GM wants to defy conventional wisdom by building inexpensive cars in small quantities. Its secret: hydropressure.

[forbes] water wagons

EU's fiscal stability pact is coming unravelled. Considering the depths of financial chicanery practised by the Commission and EU member states, the pact is worthless. Burdened by the welfare state, colossal debt and wedded to creative accounting, EU countries are unlikely to aggressively police each other for fear of recompense. Let this be a lesson: states do not discipline themselves.

[mises] Some Pact!

One might even say that Chile has become a nation of shopkeepers—a phrase once derisively used by foreign observers to describe the British. Throughout the 1990's, and today, under the current administration of "socialist" Ricardo Lagos, Chile has furiously been attempting to secure free trade agreements with every country it can from New Zealand to South Korea to the United States. Free trade, low debt, low taxes, and relatively laissez-faire economics are at the heart of the ongoing economic expansion in Chile. Long a practical and trade-minded people, the Chileans are now enjoying the fastest growing economy in Latin America, and are considered an increasingly good investment choice by the world financial community. And, as some have said, it is well on its way to becoming a first-world nation.

[mises] Chile: Socialism, Dictatorship, and Liberalism

skullaria wrote:
] Huge fee increases have eBay sellers in a tizzy! Many are
] planning on quitting altogether, and lots are closing stores.
] Still others are looking for a decent place to migrate - among
] eBay's competition is www.sellyouritem.com, www.bidville.com,
] www.yahoo.com, and www.overstock.com.
]
] This will translate to higher prices for buyers.

Of course, times like this demand a return to http://www.ioffer.com/feepay/ to get yer angst out.

RE: eBay puts the SQUEEZE on sellers - HUGE fee increases

John Mauldin's weekly letter this week has his 2005 forecast. Always interesting stuff, from a big-picture type of view.

John Mauldin's 2005 Forecast

The heritage foundation's 2005 index of economic freedom is out. Interestingly enough, the united states is not in the top 10. Click on downloads to read the individual chapters.

2005 Index of Economic Freedom

Bill Gross's monthly Investment Outlook. Bill is the king of bonds, and so his monthly IO column is always a must read. This month, he discusses (predictably enough) the outlook for 2005.

Pimco Investment Outlook Jan 05

His usual pesimistic self, but makes a good read anyways.

Stephen Roaches year end review and look forward to 2005

Amusing, yet more than a touch of truth in here.

Hot Jobs for the new new economy