Some economic news:
This morning’s jobs report shows that the economy’s subsidized private sector (industries like health care services that receive big government subsidies) is back as a major source of new hiring.
If a stronger but sustainable U.S. recovery depends on reinvigorating industries not heavily dependent on government largesse, then this hiring out-performance . . . → Read More: That Which Is Unseen
First of all, I should apologize for readers for probably the longet hiatus ever on this blog. I am still trying to balance a busy day job with having time to pen blog posts. I am sure that I will manage to get a nice rythm going at some point.
As such, I . . . → Read More: US Demographics – Glass Half Full or Half Empty?
I did the SIGFIRM Quarterly Lecture at the University of California in Santa Cruz recently:
Also see: Mumbai as an International Financial Centre, a project led by Percy Mistry.
You may like to subscribe to the NIPFP MF channel on . . . → Read More: International financial centres: Peering into the future
So if you want to see the gloomiest picture of Downtown used in an upbeat story see today’s headine.
Reuters: Only three major U.S. cities see economic recovery: study
What 3 you have to ask? Lots of ink on this one from all over, but nary a mention locally? Even reverb over the pond of . . . → Read More: The new metro gazelles?
They are probably right. It is telling that neither Obama nor his Republican opponent has offered much of a plan to spur the economy, at least in the short term. So far as anyone has any short-term impact on the economy, it is the Federal Reserve, and even it is limited in . . . → Read More: Why Print Money?
So I debated whether to point out the obvious here, but I wasn’t even sure if this was serious. See the press release: Pittsburgh International Airport Celebrates 20 Years Of Service, Innovation And Growth In The Pittsburgh Region.
No hubris there. I’m now half expecting the Nuttings to issue a press release highlighting 76 . . . → Read More: To Fly
PG has a story on the latest in immigrant attraction efforts in town here. Certainly not the first of such efforts. More than a decade ago Pittsburgh’s immigrant attraction efforts were page A1 in the NYT with this: To Fill Gaps, Cities Seek Wave of Immigrants. It has also been a nearly perpetual topic here in . . . → Read More: West End Story
Best-selling author John Mauldin of Mauldin Economics says the EU is only left with choices that range from bad to disastrous. Meanwhile, Republicans and Democrats will have to hold hands and walk off the cliff together to solve U.S. economic problems. In this exclusive Gold Report interview, Mauldin expands on his comments at . . . → Read More: John Mauldin’s Prescription for Avoiding Economic Catastrophe
The Economist runs a discussion forum titled The Economist By Invitation. In this, they recently setup a discussion about an opinion piece by Dani Rodrik about the future of manufacturing-led growth in emerging markets. I wrote a response there which is reproduced here.
The role of manufactures
I agree with a small element of . . . → Read More: The widget illusion
With a perfect storm brewing on the horizon, investors should be building their cash cache and running for cover, warns Harry Dent, author of The Great Crash Ahead. In this exclusive interview with The Gold Report, Dent explains how central bank stimulus programs are fighting a futile battle because a huge army of . . . → Read More: Harry Dent’s Formula for Surviving the Great Bust Ahead