Lexington
Land of the free?
Liberty in America is not quite as revered as its leaders pretend

NO OTHER country puts as much emphasis on “freedom” as the United States. Patrick Henry demanded “liberty or death”. The national anthem calls America “the land of the free”. Great reformers from Abraham Lincoln to Martin Luther King have urged America [...]

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Bush in the Middle East
On tour to Israel
George Bush travels to meet Ehud Olmert, Israel’s beleaguered prime minister

FOR the second time this year, the small city of Jerusalem is battening down to prepare for the extremely large presence of George Bush. He and two dozen other current and former national leaders are attending a [...]

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Euro’s 10-Year Anniversary Shows Half-Empty Glass: Matthew Lynn
Commentary by Matthew Lynn
May 14 (Bloomberg) — Ten years ago this month, the leaders of the European Union named the 11 countries that would merge their currencies into a single unit as a step toward transforming the [...]

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Clinton’s West Virginia Win Won’t Cut Obama’s Lead (Update1)

May 14 (Bloomberg) — Hillary Clinton won an overwhelming victory in yesterday’s West Virginia primary that did little to cut into Barack Obama’s lead [...]

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Confidence Improves Amid Signs Credit Crisis Easing (Update1)
May 14 (Bloomberg) — Confidence in the global economy improved for the second consecutive month in May on signs the worst of the credit squeeze may be over, a survey of Bloomberg users on five continents [...]

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Consumer Prices in U.S. Rise Less Than Forecast 0.2% (Update2)

May 14 (Bloomberg) — U.S. consumer prices rose less than forecast in April, reflecting cheaper furniture and lodging costs that offset the biggest [...]

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U.S. Stocks Rise on Consumer Price Report; Freddie Mac Gains
May 14 (Bloomberg) — U.S. stocks advanced, led by financial shares, after consumer prices climbed less than economists forecast and Freddie Mac posted a narrower-than-estimated loss.
Hewlett-Packard Co., Home Depot [...]

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Political Diary

Why the Parties Are Wargaming Over Staten Island

Political analysts in both Washington and New York’s Staten Island now expect GOP Rep. Vito Fossella not to seek re-election. His media adviser says only he plans to continue working on behalf of his constituents “in the weeks” and months to come. But Mr. Fossella’s political [...]

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McCain’s Climate ‘Market’
The latest stop on John McCain’s policy tour came at an Oregon wind-turbine manufacturer, where the topic was – what else? – the Senator’s plan to address climate change. This is one of those issues where Mr. McCain indulges his “maverick” tendencies, which usually means taking the liberal line. That was the case [...]

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Clinton Wins West Virginia Primary, Networks Project
May 13 (Bloomberg) — Hillary Clinton won the West Virginia primary by a wide margin, television networks projected, a victory that still leaves her far short of catching Barack Obama in the race for the Democratic presidential [...]

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