In 2009, the number of repossessed autos increased to 1.9 million. The number of homes under foreclosure varies from month to month, but the 2009 total was about 2.8 million. For 2010, it seems that a million new foreclosed homes would be conservative, with a large percentage in California. Miss a few payments on an auto loan and you may wake up to an empty driveway. read more »
Can the American republic replicate in the 21st century what its people accomplished in the 20th: widespread economic prosperity at home, the conquering of tyrannies and fascist ideologies abroad, the application of science to eradicate disease and improve life? These accomplishments took great efforts and costs, but the benefits were extraordinary. I have been optimistic my whole trend-forecasting career, but now it has become harder to be optimistic. read more »
Superficially at least, California’s problems are well known. Are they well understood? Apparently not.
About a year ago Time ran an article, "Why California is Still America's future," touting California's future, a future that includes gold-rush-like prosperity in an environmentally pure little piece of heaven, brought to us by "public-sector foresight." read more »
Over the past few years, the raging debate in economic development has been over whether cities should be cool or uncool. Should cities pursue “the creative economy” by going after arts, culture, creative research & development, and innovation? Or should they focus on the bread-and-butter economy: hard infrastructure, traditional industries like manufacturing, and blue-collar jobs? read more »
By Richard Reep
Last year’s report that Florida had lost people marked a new low in our state’s boom-and-bust history. But this autumn’s news seems to surpass even that sorry milestone with a combination of sluggish tourism, empty state coffers, and a reputation as one of the top real estate foreclosure states. Florida just can’t seem to get out of its own way, and with the fourth highest population in the country, it could have competed with Texas to replace California as one of the best business climates in the nation. Instead, Florida, which boasts one of the lowest tax rates in the nation, continues to see businesses and citizens depart read more »
The current conflict between the Koreas illustrates a broader global trend toward chaos along borders separating rich and poor countries. Ultimately, this reflects the resentments of a poor neighbor against a richer one. Feeling it has little to lose, the poorer neighbor engages recklessly in the hope of gaining some sort of tribute or recognition from the better-heeled neighbor, or at least boosting its own self-respect. read more »
It has been said that the modern city is soulless, that it is heartless, and that it is brutal. The modern city represents in its scale and complexity one of the most extraordinary of human inventions, but there is also no doubt that everywhere in the world it is also one of our biggest failures.
The dysfunction of a city in the past was an inconvenience. The dysfunction of a city in the future will be a profound disaster for that city and, ironically, a profound opportunity for another city, of a smarter city. It will be an opportunity for a city that has found out how to position itself better in the world of cities, but more importantly in the eyes and hearts of its citizens. read more »
Smaller, more nimble urban regions promise a better life than the congested megalopolis.
Most of the world's population now lives in cities. To many academics, planners and developers, that means that the future will be dominated by what urban theorist Saskia Sassen calls "new geographies of centrality." According to this view, dense, urban centers with populations in excess of 20 million—such as metropolitan Tokyo, New Delhi, Sao Paolo and New York—are best suited to control the commanding heights of global economics and culture in the coming epoch. read more »
Here’s an idea that could save Barack Obama’s presidency: Give up those troubling Chicago roots and get back to Kansas. If, as Dorothy observed in the Wizard of Oz, “We’re not in Kansas anymore,” get the Wizard to send you back there soon.
Barack Obama owes much to Kansas–and the Great Plains in general–something he used to acknowledge often enough. Not only was he largely raised by products of that region (his mother and grandmother hail from the Sunflower State), but also his remarkable victory over Hillary Clinton during the presidential primaries was built largely by winning first in the Iowa caucuses, followed by surprising victories in Kansas, North Dakota, Minnesota and Illinois. read more »
Like the rest of us, I pick over the stock market’s runic inscriptions to find meaning in earnings reports, ratios, analyst reports, and trend lines, hoping to divine the traces of an orderly world—something it clearly is not. read more »