Financial Crisis

The Die-Hard Recession Heads Off The Charts

Recession-a long alley.jpg

"By 1970, the governments of the wealthy countries began to take it for granted that they had truly discovered the secret of cornucopia. Politicians of left and right alike believed that modern economic policy was able to keep economies expanding very fast -- and endlessly. That left only the congenial question of dividing up the new wealth that was being steadily generated."

Those words, from a Washington Post editorial more than twenty-five years ago, echoed the beliefs not only of  read more »

Citizen Bloomberg - How Our New York Mayor has Given Us the Business

bloomberg.jpg

This piece originally appeared in the Village Voice.

After a charmed first decade in politics, Mayor Mike Bloomberg is mired in his first sustained losing streak.

His third term has been shaky, marked by the Snowpocalypse, the snowballing CityTime scandal, the backlash to Cathie Black and "government by cocktail party," and the rejection by Governor Andrew Cuomo of his plan to change how public-school teachers are hired and fired. With just a couple more years left in office, Bloomberg is starting to look every one of his 70 years.

Soon, he'll be just another billionaire.  read more »

The Costs of Smart Growth Revisited: A 40 Year Perspective

london-housing.jpg

"Soaring" land and house prices "certainly represent the biggest single failure" of smart growth, which has contributed to an increase in prices that is unprecedented in history. This  finding could well have been from our new The Housing Crash and Smart Growth, but this observation was made by one of the world's leading urbanologists, Sir Peter Hall, in a classic work 40 years ago.  read more »

Enterprising States: Hard choices now, hard work ahead: State Strategies to Renew Growth and Create Jobs

es2011-cover.jpg

This is an excerpt from "Enterprising States: Creating Jobs, Economic Development, and Prosperity in Challenging Times" authored by Praxis Strategy Group and Joel Kotkin. The entire report is available at the National Chamber Foundation website, including highlights of top performing states and profiles of each state's economic development efforts.

Read the full report.  read more »

Enterprising States: Recovery and Renewal for the 21st Century

es2011-cover.jpg

This is an excerpt from "Enterprising States: Creating Jobs, Economic Development, and Prosperity in Challenging Times" authored by Praxis Strategy Group and Joel Kotkin. The entire report is available at the National Chamber Foundation website, including highlights of top performing states and profiles of each state's economic development efforts.

Read the full report.  read more »

Diagnosing New Inflation Symptoms

Amsterdam Commodities Exchange.jpg

It's been more than three years since the Great Recession began, and it's no longer debatable that the federal spending in its wake did not provoke inflation. Years of forecasts by fiscal conservatives about the result of government expenditures have proved to be wrong. After three fiscal stimulus packages, core inflation — which excludes the volatile prices of oil and commodities— remains very much in check. The core rate is the most reliable guide to future inflation, and it has not trended upward.

Headline inflation, however, the rate that does include these two, has increased. Is the recent uptick in gas and food prices a game-changer on inflation?  read more »

A Requiem for "High-Speed Rail"

rail-track.jpg

In the interest of maintaining some balance and perspective on what the Administration proudly calls "President Obama's bold vision for a national high-speed rail network," at InnovationBriefs we have tried to offer our readers a range of different points of view. It is in this spirit that we present below two commentaries.  read more »

The End of the Line: Ambitious High-speed Rail Program Hits the Buffer of Fiscal Reality

high-speed-rail-plan-usa-image.jpg

A well-intentioned but quixotic presidential vision to make high-speed rail service available to 80 percent of Americans in 25 years is being buffeted by a string of reversals. And, like its British counterpart, the London-to-Birmingham high speed rail line (HS2), it is the subject of an impassioned debate. Called by congressional leaders "an absolute disaster," and a "poor investment," the President’s ambitious initiative is unraveling at the hands of a deficit-conscious Congress, fiscally-strapped states, reluctant private railroad companies and a skeptical public.  read more »

The Deconstruction of Barack Obama

globe-puzzle-deconstruct_0.jpg

The first two years of the Obama Administration have been historic and eventful. The first openly liberal president in a generation has dramatically increased government spending and intervention in the nation’s economy. The federal deficit soared to $1.65 trillion dollars and 35% of Americans now receive some type of government assistance.  read more »

From the Great Moderation to the Great Stagnation

store-closed.jpg

For much of the past decade, I was a proponent of the thesis that that the American economy had entered a “great moderation,” where expansions lasted longer and recessions were fewer, shorter and milder. Productivity had seemingly reached a permanently high plateau; inflation seemed tamed. The spreading of financial risk, across institutions and around the world, seemed to have reduced the odds of a crisis.  read more »