Bizzy’s AM Coffee Biz-Econ-Life Links (051106)

Free Links:

• Yesterday, The Fed raised interest rates again — This is why. Unfortunately for those with variable-rate loans, it’s a very good reason.
• “S.O.B.er” Conservative Culture just added co-blogger Daniel Mount, whose first post has a great untold insight from the late Tip O’Neill on why, against the pollsters’ predictions, Harry Truman was able to win the 1948 presidential election and the Democrats were able to take back Congress. I think one of the reasons will surprise most readers.
• There’s a “Bit” of Irony in This:
  

  Warner Brothers is to start selling film downloads via the internet using the same technology once blamed for helping people swap illegal copies.

  The Hollywood studio has reached a deal with the web company Bit Torrent, which uses peer-to-peer technology to allow the quick distribution of large files.

  Warner says users will be able to buy downloads of films and TV shows on the same day they become available on DVD.

  Pricing for a feature film will be about the same as the DVD release.

  The cost of a television show could be as low as a dollar.

• Feeling Lucky Today? If you’re in the US, where the economy has grown at an annual rate of almost 4% (second item at link) during the last three years, you should be. After all, you could be in the EU:
  

  EU lifts eurozone growth estimate

  The European Commission has pushed up its estimate for economic growth in the eurozone this year to 2.1% from 1.9%.

  Investment, sustained world growth and consumer demand in Germany will help to boost the economy of the 12-nation bloc, the commission predicts.

  It also said the economy of the EU as a whole would grow by 2.3% this year from 1.6% in 2005.

  But it warned that potential supply disruptions made volatile oil markets the EU’s “biggest near-term risk”.

  The economy of the eurozone grew by just 1.3% last year. However, although it is expected to speed up this year, eurozone growth is forecast to decline to 1.8% in 2007.

  Growth in the EU’s economy is also expected to slow next year to 2.2%.

  Wowie zowie, 2% plus a little. Sustained growth at that level here would be a political disaster for whatever party happened to be in control.