AND NOW THE OTHER ECONOMIC NEWS - AT 6:51 P.M. ET: 

March 23 (Bloomberg) -- Global trade will plunge 9 percent this year, the most since World War II, as the recession deepens, the World Trade Organization said.

“Economic contraction in most of the industrial world and steep export declines already posted in the early months of this year by most major economies -- particularly those in Asia -- make for an unusually bleak 2009 trade assessment,” the Geneva- based WTO said in its annual assessment of world trade.

COMMENT:  One of the elements prolonging the great Depression was regressive trade policies.  Some on the left would like to bring those back to "protect" American workers.  Protectionist schemes usually wind up hurting everyone, so we must be on guard.

March 23, 2009