Finance Friday

Bernanke makes case for further easing:

BOSTON — The Federal Reserve chairman, Ben S. Bernanke, sent a clear signal on Friday that the central bank was poised to take additional steps to try to fight persistently low inflation and high unemployment.

“Given the committee’s objectives, there would appear — all else being equal — to be a case for further action,” he said in a detailed speech at a gathering of top economists here.

Mr. Bernanke noted that “unconventional policies have costs and limitations that must be taken into account in judging whether and how aggressively they should be used.” But he suggested that the Fed was prepared to manage the risks associated with the most powerful tool remaining in the Fed’s arsenal of weapons to stimulate the economy: vast new purchases of government debt to lower long-term interest rates.

and gold jumps higher:

 Victor Davis Hanson: We are Shamed by Our Debt

We will learn in November just how angry the public is about a lot of things, from higher taxes to massive unemployment. But the popular uproar pales in comparison to the sense of humiliation that we Americans are quite broke.

In 2008, the public was furious at George W. Bush, not because he was too much of a right-wing tightwad, but because he ran up a series of what were then thought to be gargantuan deficits.

In Nevada we find a battle of policical philosophies:

LAS VEGAS — The debate Thursday evening between Senator Harry Reid, the majority leader, and Sharron Angle, the Republican running with Tea Party support, had been promoted as a climactic duel between two opponents for a Nevada Senate seat, locked in an exceedingly tight contest in what may well be the most closely watched race of the fall.

The latest on President Obama, his administration and other news from Washington and around the nation.

What viewers saw here was a vivid contrast of philosophy between two competing forces in American politics this election cycle: Mr. Reid, the face of the Democratic establishment and champion of President Obama’s policies, and Ms. Angle, the hero of the Tea Party. They offered fundamentally different visions of the role of government in dealing with issues including health care, regulating banks and the insurance industry, and using government programs to create jobs.

 French Protests Escalate: Fuel Pipelines cut

PARIS, Oct 15 (Reuters) - French refinery workers cut off a fuel pipeline to Paris on Friday as protesters piled on pressure to derail President Nicolas Sarkozy's unpopular pension reform.
Police broke up blockades at fuel depots in southern France but protesters blocked a terminal at Paris's Orly airport and truckers were set to join the fray as momentum built for a day of street rallies on Saturday.

A nationwide strike is planned on Tuesday, a day before the Senate is due to vote on a bill to make people work longer for their pensions.