Blogs

The success of Treasury Secretary Geithner’s Public-Private Investment Partnership Program depends on getting private investors interested in buying junk bonds off the banks’ balance sheets. Now it seems that at least one hedge fund is giving the plan “two thumbs-down.”  read more »

The financial services sector (finance, insurance, real estate, management) lies at the heart of the economic crisis and recession. This is the sector that doubled in its share of the labor force over the last 30 years, creating vast but uneven wealth. It is instructive to see which American cities are most culpable in these excesses.  read more »

The national conversation in the wake of President Obama's introduction of a mortgage relief plan has centered on "fairness" and the conditions to qualify for a mortgage modification. This misses the point. The effects of "innovative" mortgage products were felt far more broadly than the relationship between a single buyer (responsible or not) and his particular mortgage broker (despicable or not). To illustrate the point, meet Mrs. Conservative And Responsible Mortgage Neighbor ("Carmen" for short).  read more »

I recently recieved this this link to a short essay and some stats titled "Texas on the Brink". I thought I'd share my response with you:  read more »

It's hard to find a quality of life ranking that satisfies the preferences and desires of everyone but Bizjournal's recent ranking of mid-sized metros does highlight and affirm the presence of colleges and universities as an increasingly common and important thread in quality of life analyses.  read more »

The Hadley Center in the UK has recently reported a “correlation between reduced prosperity and reduced greenhouse gas emissions associated with global warming.”

The report states that since 2000, as greenhouse gasses have risen 2 to 3 percent each year, the world gross domestic product has also risen. The current ½ percent reduction in GDP is therefore correlated with the ½ percent reduction in greenhouse gasses.

Paul Taylor, of the examiner.com, suggests that the “reductions in greenhouse gases will reduce GDP and punish economic prosperity.”  read more »

The flood fight is on in Fargo/Moorhead as the cities work to stem the flow of the raging Red River of the North. I was in north Fargo this morning (Friday) where crews continue to haul clay and sandbags to bolster dikes and protect critical infrastructure. Fargo Mayor, Dennis Walaker, said this morning that they “wouldn’t go down without a fight” and these two communities are putting up a herculean fight against all that mother nature can throw at them including record flood levels, a snow storm and continued cold temperatures.  read more »

Late this afternoon the National Weather Service River Forecast Center came out with the announcement that no one in Fargo wanted to hear: the expected crest has risen a foot to 42, and possibly 43 feet. The NWS included the following eerie passage in their official statement:

"The relative uncertainty in forecast models has increased significantly. Record flows upstream of Fargo have produced unprecedented conditions on the Red River. Given these factors, the river is expected to behave in ways never previously observed."  read more »

It was eighteen above zero and snow in Fargo this morning. Record high flood forecast on the Red River of the North in the Southern Valley. I went down to Fargo, from Grand Forks (70 miles north), to help my sister’s family empty out their basement. They live in the southern subdivision of Osgood. The blare of heavy equipment resounded throughout the neighborhood as I pulled in, feverishly building an earthen dike as a secondary defense roughly six to eight blocks North of their house.  read more »

You may have seen the national media coverage of the flooding in North Dakota and Minnesota. Some of us here at NewGeography.com live right in the middle of it. I parked my car this morning at the base of an earthen dike holding back the Red Red River in Grand Forks, ND. Here in Grand Forks we were wiped out by a similar flood and fire in 1997. We evacuated more than 50,000 people at that time and virtually every property in the area was affected.  read more »