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Growth of Jobs Reinforces Hopes of Sustained Turnaround |
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| Topic: Economics |
9:51 am EDT, May 7, 2004 |
Bush is on track to be the first president since the Great Depression to have lost jobs under his watch. The economy has rebounded strongly, but companies, under intense pressure to compete globally, have been holding down their costs by working employees harder instead of hiring new ones. The leisure and hospitality sector added jobs, especially in the category of food services. Growth of Jobs Reinforces Hopes of Sustained Turnaround |
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| Topic: Economics |
9:49 am EDT, May 2, 2004 |
Tom Friedman corroborates the latest Stratfor Weekly analysis. The most striking thing about being in Asia today is hearing how much more important China's growth engine has become for companies all across the region -- and well beyond it. To some degree the world is getting hooked on China. The more hooked we become, the less the world can tolerate any sort of prolonged instability there. If the China bubble bursts, it will be the mother of all burst bubbles. If a client owes you $1,000, that's his problem. If a client owes you $1 million, that's your problem. China's stability is our problem. Let Us Pray |
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Euphoria and Meltdown in China |
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| Topic: Economics |
4:27 pm EDT, May 1, 2004 |
The only issue on the table is whether the behavior of China's authorities reveals deep concern or outright panic. That is an interesting question -- and not a trivial one -- but it does not cut to the heart of the problem, which is that China, contrary to popular perception or even its extremely high economic growth rate, is in serious trouble and is desperately searching for a soft landing -- a landing that might not be available. Underneath apparently astounding economic achievements, the Asian economy is actually hollowing itself out. Saying "never mind" is an interesting strategy, but essentially Beijing has let the cat out of the bag. In reality, the enormity of the problem is dawning on everyone. The sky is not falling for the global economy. It might be falling for China. Origami paper tigers. Can you hear them laughing in Bangalore? Euphoria and Meltdown in China |
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Medicare and Social Security Challenge |
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| Topic: Economics |
9:26 am EST, Mar 2, 2004 |
When Alan Greenspan urged Congress last week to cut future benefits in Social Security and Medicare, sending elected officials to the barricades, he was if anything understating the magnitude of the problems ahead. Indeed, the numbers are so big and extend so far into the future that they border on the surreal. "It is time to start telling people the truth," said Laurence Kotlikoff. Medicare and Social Security Challenge |
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| Topic: Economics |
9:26 am EST, Feb 27, 2004 |
It is always difficult to decipher just what the often-opaque Fed chairman means. The New York Times shares your confusion. Mr. Greenspan's Warning |
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Alan Greenspan on the Critical Role of Education |
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| Topic: Economics |
9:41 pm EST, Feb 25, 2004 |
There is a very good reason why Alan Greenspan is the Chairman of the Federal Reserve Board. It is unfortunate that John Edwards' "average Americans" do not pay more attention to the things that Greenspan tells them. Consider the 30-minute nightly local newscast; how much time is spent on Greenspan as compared to sports? A critical aspect of wealth creation is the level of knowledge and skill of the population. Today, the knowledge required to run the economy, which is far more complex than in our past, is both deeper and broader than ever before. We need to ensure that education, formal or otherwise, is supplying skills adequate for the effective functioning of our economy. The real income earned by a worker depends importantly on his or her intelligence and skill. ... The never-ending necessity to learn new skills is due to the gradually but inexorably changing nature of our economy. ... This rising complexity has required the labor force to be more and more technically oriented. We need to be forward looking in order to adapt our educational system to the evolving needs of the economy and the realities of our changing society. Those efforts will require the collaboration of policymakers, education experts, and -- importantly -- our citizens. It is an effort that should not be postponed. Alan Greenspan on the Critical Role of Education |
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The Coming Generational Storm |
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| Topic: Economics |
11:54 am EST, Feb 16, 2004 |
In 2030, as 77 million baby boomers hobble into old age, walkers will outnumber strollers; there will be twice as many retirees as there are today but only 18 percent more workers. How will America handle this demographic overload? How will Social Security and Medicare function with fewer working taxpayers to support these programs? ... we'll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability. But don't panic. If the American workers don't have jobs, what will be taxed? Perhaps we can tax the Indians to pay for the boomers' prescriptions. The Coming Generational Storm |
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Job-Rich Silicon Valley Has Turned Fallow, Survey Finds |
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| Topic: Economics |
11:38 am EST, Jan 20, 2003 |
Silicon Valley lost about 9 percent of its employment from the first quarter of 2001 to the second quarter of 2002. Losses were particularly acute in the areas of software, semiconductors and computer and communications hardware, which lost 22 percent of their jobs. Average pay declined 6 percent. ... the next source of growth will be the biomedical industry ... already the highest concentration in the US. Job-Rich Silicon Valley Has Turned Fallow, Survey Finds |
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As Post-Boom Dust Settles, the South Grimly Downsizes |
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| Topic: Economics |
8:41 am EST, Dec 16, 2002 |
If the nation boomed in the 1990's, Atlanta exploded. But what fueled Atlanta's eye-popping growth in the 1990's has proved the city's economic undoing in the last year and a half. The most poignant illustrations of the downturn are the roughly 20,000 highly skilled but suddenly unemployed workers who were laid off from telecom and technology companies with headquarters or major operations in Atlanta. The companies include ... Internet Security Systems ... "What does the future hold when every garage has got a new car in it?" As Post-Boom Dust Settles, the South Grimly Downsizes |
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Earning More, but Struggling to Own a Home |
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| Topic: Economics |
5:20 am EST, Nov 4, 2002 |
Around Boston, and in many other big metropolitan areas, rapidly rising home prices have overwhelmed the recent decline in interest rates and made the purchase of a first home more difficult than it has been in years for large numbers of younger adults. Some find themselves living an odd inversion of the American dream, earning considerably more money than their parents did, but still struggling to own a home. Check out the infographic associated with this article -- it belongs on the pages of _American Demographics_. Earning More, but Struggling to Own a Home |
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