Reporter: Prof. Ulysses s. Crockett, Jr., J.D. '71 Boalt Hall School of Law University California Berkeley; LL.M. Columbia University School of Law (Federal Taxation), See Ulysses S. Crockett, Jr., ' Taxation Of Interest On Indebtedness In Corporate Acquisitions: A Congressional Response In Merger Tax Reform', 10 INDIANA LAW REVIEW 419 (1976).
Presently Dean Of Instruction, Carlton R. Inniss, III Oakland Alameda County Community Law School, Inc., 3850 San Pablo Avenue Ste 410, Emeryville, CA 94608, echojurist@yahoo.com, 510.597.1959.

1. RECENT LEADING ECONOMISTS ANALYSES: Let the reader first undertand that there are no Nobel Prize Economics Laureates. Instead there is, since 1969, an annual award in memory of Alfred Nobel designated formally as the Sverges Risbank Prize in Economics. This early May, 2008, three such recipients of the Risbank Prize, Joseph Stiglitz (2001), Robert Engles, III (2003) and Edmund Phelps (2006) held forth on a BBC Radio braodcast discussing opinionated causes and remedies for the present U.S. and world credit-finance crises. Suffice to say that neither economist dared to offer a set of private institution, government regulatory or consumer-investor behaviors which would establish remedies favorable to all palyers in the modern capitalist world. All economists could agree, however, that the modern version of capitalism has resulted in continued planetary destruction - all in the name of so-called "economic growth" relative analytic measures of which these three economists received the Risbank Prize.

2. This May's (2008) issue of Harper's Magazine contains an instructive monograph by Kevin Phillips about the numbers racket aspect of the U.S. and world finance system which should be required reading in all schools of business and finance throughout the world. Essentially, Professor Phillips correctly notes the widespread use of deceptive data and statistics in convincing many U.S. residents that the U.S. economy "...is stronger, fairer, more productive, more dominant, and richer than it actually is." Among the deceptive data foisted upon the consuming public, and indeed the economic scholars who attempt to analyze such deceptive data include, inter alia: a. Consumer Price Index, b. Gross Domestic Product, c. Monthly Unemployment Figures, d. Federal Interest Payments on National Debt, e. Cost Of Living Increases For Pensions, Wages, Social Benefits, f. Inflation Rates and so-called g. Growth Rates.

To Be Continued in Next Weekly Report. USC,echojurist@yahoo.com
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