Politics

Can Millennials Turn around the Housing Bust?

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Many of the nation’s youth (and a few of their elders) are expecting a magical turnaround of America’s economic fortunes as soon as their candidate for President, Barack Obama, is sworn in on January 20th 2009. But the Millennial Generation, born between 1982 and 2003, may be more the source of the country’s economic salvation as any initiative the new President might propose.

Millennials are the largest generation in American history, more than 91 million strong. They are coming of age just in time to join the workforce, enter the housing market, stabilize home prices, and buy the nation's expanding inventory of durable goods to furnish their new homes.  read more »

Redrawing the Electoral Map? Not so fast.

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With Barack Obama’s historic presidential win there has been much celebratory talk about redrawing the electoral map. Obama himself boasted that he was the only Democratic candidate who could accomplish this feat.

However, actual voting results suggest the map only shifted slightly at the margins from the 2000 and 2004 elections and that our geographic voting patterns may be more durable than we think. Here is a comparison of the famous red-blue divide:  read more »

New Zealand Voters Swing Right: John Key's Shower Power

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Reason magazine’s Jesse Walker opens his commentary on the New Zealand election by saying: “At least one country is responding to the financial crisis by moving to the right, not left.” This is factually correct but may overstate the case.  read more »

King Bloomberg: New York City Mayor Run Amok

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When Mayor Bloomberg deployed his vast personal and political power to overturn the term limits law, he began to demystify the public relations image he had purchased at considerable expense.

It was only then that New Yorkers began to recognize the danger of making Gotham's wealthiest man its chief executive. That recognition is the reason his approval rating slipped by nine points in the latest Marist poll. The public chose a mayor; they didn't expect an elected monarch.  read more »

Understanding the Geography of the 2008 Election

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Scholars as well as pundits and politicians will study this remarkable election exhaustively. Many, including me, will use county data, because they are convenient and available. From a statistical point of view, counties are lousy units, because of huge variation in size and excess internal variability. But we can’t resist, so here are some at least suggestive findings.  read more »

California’s Inland Empire: Is There Hope in the Heart of Darkness?

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Few areas in America have experienced a more dramatic change in fortunes as extreme as Southern California’s Inland Empire. From 1990-2008, the Inland Empire (Riverside & San Bernardino counties) has been California’s strongest job generator creating 20.1% of its employment growth. The area also consistently ranked among the nation’s fastest growing large metropolitan areas. However in 2008, the mortgage debacle has sent this area, which had not seen year-over-year job losses in over four decades, into a steep downturn.  read more »

Up Next: The War of the Regions?

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By Joel Kotkin and Mark Schill

It’s time to throw away red, blue and purple, left and right, and get to the real and traditional crux of American politics: the battle for resources between the country’s many diverse regions. How President-elect Barack Obama balances these divergent geographic interests may have more to do with his long-term success than his ideological stance or media image. Personal charm is transitory; the struggle for money and jobs has a more permanent character.  read more »

The Case for Optimism on the Economy

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With the prospect of a long, deep recession staring us in the face, are there any reasons for optimism?

You betcha!

The central characteristic of the American economy – resiliency – is now being severely tested. But there are ample reasons to believe it will pass that test. Simply put, even after this crisis the US will still have the world's largest, most dynamic, most productive, most innovative, most technologically advanced, most competitive and most venturesome economy.  read more »

The Purpose of Finger-Pointing on Financial Crisis

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The presidential campaign is over and the global financial crisis remains. President-elect Barack Obama offers hope for a fresh start even as he prepares to face a backlog of enormous problems. I believe that our nation is up to any and all challenges, able to achieve a new unity and purpose in these trying times.

Yes We Can, indeed.

You’ll hear some others say that these challenging times leave no room for finger-pointing over the origins of the financial mess we face.  read more »

Financial Bailout Shortchanges Taxpayers and Does Little to Fix the Economy

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Last month, Congress gave the treasury secretary $700 billion, which he said he urgently needed to buy toxic securities from the balance sheets of some of our largest financial institutions that were in financial trouble.

The secretary said that the economy was in danger, and the bailout funds were necessary to prevent a collapse.

I agree the economy is in trouble. And I am anxious to support emergency measures that will give our economy a lift.  read more »