The ten story of mural of LeBron James is coming down in Cleveland. This one hurts. James wasn't just the latest embodiment of Cleveland's hopes, he was a local kid who, unlike so many, had stayed home in Northeast Ohio. His joining of the Cleveland exodus at a time of severe economic distress prompted Cavaliers owner Dan Gilbert to pen a now infamous open letter to fans: read more »
In a time when many European nations are burdened by high debts and difficulties to get spending under control, the Swedish economy is amongst the most well managed in Western Europe.
The nation’s GDP fell dramatically, by more than four percent, when the financial crisis struck. This decline was twice the average of the OECD-15 countries. Despite this, Swedish employment actually increased between the last quarter of 2006 and 2009. read more »
A year ago we were hearing all about green shoots. Analysts claimed to find them everywhere.
Today, we never see the term. In fact, there seems to be a growing malaise. By the end of June the first quarter’s Gross Domestic Product (GDP) estimate was revised downward a full half a percent, to 2.7 percent. Pundits are depressed. read more »
Over the past half century arguably no place on earth has progressed more than the tiny island state of Singapore. A once impoverished, tropical powder keg packed into 268 square miles at the foot of the Malay Peninsula, the Mandarin-led republic has ascended from its difficult founding in 1965 to one of the richest economies on the planet. Today, in terms of purchasing power, its per capita income stands higher than most European countries' or Japan's and is roughly equal to that of the U.S. read more »
Flea markets and garage sales have been around for years. But for most New Zealanders, produce markets have been associated with old European villages, or the ethnic markets of Hong Kong and other exotic locations. Village markets focus on locally made crafts, while Flea Markets are essentially centralized garage sales. read more »
General Stanley McChrystal may be the first commanding general in the history of warfare to be relieved of his command because he groaned over the receipt of an email from an ambassador, or because one of his aides whispered to a Rolling Stone reporter that the president had looked “intimidated” in a meeting with the military brass. read more »
“Follow the money” became a household phrase after the 1976 movie that told the story of Watergate, All the Presidents Men. Personal experiences over four decades in the consulting industry, working to create sustainable developments, often bring the phrase to mind. read more »
Excerpts from Steve Lafleur's personal "View From The Wreckage" diary and photo log from this month's G20 conference in Toronto:
10:51 PM: I arrive in Toronto to a surprisingly vacant parking lot on the Esplanade, in the heart of Toronto's bustling financial district. Quietest Friday night I've ever seen in Toronto. Barely a soul out in the usually packed financial district. read more »
The political execution of Prime Minister Kevin Rudd by his own Australian Labor Party colleagues was extraordinary, the first time a prime minister has been denied a second chance to face the voters.
According to the consensus in Australia’s mostly progressive media establishment, Rudd fell victim to his “poor communication skills”, a somewhat Orwellian take since until recently he was hailed as a brilliant communicator. What went wrong? read more »
There is one thing you need to remember as you listen to the debate about economic and fiscal policy at the G-20 Summit this weekend in Toronto: There is No One-Size-Fits All. There is not even a “One-Size-Fits Twenty.”
Back in 2001, I summarized the few things about finance and economics that most scholars agree will support a growing economy and healthy capital markets: read more »