The California Legislative Analyst’s Office recently reported that the State faces a $21 billion shortfall in the current as well as the next fiscal year. That’s a problem, a really big problem. My young son would say it was a ginormous problem. In fact, it may be an insurmountable problem. read more »
President Obama's quick exit from Oslo and late arrival in Copenhagen suggest he's finally ready to shift focus from Nordic adulation and fighting climate change and diplomacy to fixing the American economy. About time. As former Clinton adviser Bill Galston observed recently, the president needs "to pivot and make 2010 the year of jobs."
White House operatives, as well as the Democrats in Congress, know high unemployment could bring big political trouble next year. But in their rush to create new jobs, policy makers would do well to focus on the quality of jobs created over the next year and beyond. read more »
A Reuters article that was widely picked up around the globe recently raised the question, Are Doctors What Ails US Healthcare? Comparing the New York suburb of White Plains to Bakersfield, California, the article uses the evergreen two-Americas paradigm to discuss disparities in health care. read more »
Demographic projections have become an essential tool of national, state and local governments, international agencies, and private businesses. The first step in planning for the future is to get a picture of what the terrain is going to look like when you get there. That’s mainly what I do for clients, audiences and subscribers, and demographics provide the frame (like assembling all the straight-edge pieces of a jigsaw puzzle first). read more »
The common line used by advocates of housing affordability has been that the solution lies in “free markets”. Yet this "free market" solution does not address the fundamental problem which is really a political one.
This true fundamental problem is particularly evident here in Britain, the leader in house price inflation and housing financial bubbles since the 1970s. In their recent report Global capital markets, the McKinsey Global Institute has confirmed what has been shown in recent Demographia surveys. read more »
Barack Obama may be our first African-American president, but he’s first got to stop finding his muse in Scandinavia. With his speech for the Nobel, perhaps he’s showing some sign of losing his northern obsession.
On the campaign trail, Obama showed a poet’s sensitivity about both America’s exceptionalism and our desire to improve our country. His mantra about having “a father from Kenya and a mother from Kansas” resonated deeply with tens of millions of Americans. read more »
By Richard Reep
“A walkable city, more like… Manhattan, Chicago, or San Francisco,” is how The Miami Herald characterizes the future of Miami under Miami 21, the new form-based code adopted on October 22nd by the Miami City Commission. This seems to be the hot new dream not just of Miami, but of all cities struggling under corruption and greed, codes and regulations, with an imagined underground urbanity, yearning to breathe free. Citizens may now expect to see Miami remodeled after cities that grew before the car came, but the lyrics to The Who’s “Won’t Get Fooled Again” echo in the minds of some: “Meet the new boss…same as the old boss.” read more »
I picked up a copy of The Wall Street Journal-Europe on the concourse while boarding my Emirates Air flight from Paris to Dubai. The lead story provided an unexpected relevance to the trip – my first to Dubai. Dubai World, owned by the Dubai government, had announced a 6-month moratorium on payments of some of its $60 billion in debt. Since the announcement, stock markets have been dropping and recovering, company officials have attempted to calm borrowers and government officials have provided considerably less assurance than Dubai’s investors would have preferred. read more »
Whatever the results of the Copenhagen conference on climate change, one thing is for sure: Draconian reductions on carbon emissions will be tacitly accepted by the most developed economies and sloughed off by many developing ones. In essence, emerging economies get to cut their "carbon" intensity--a natural product of their economic evolution--while we get to cut our throats.
The logic behind this prediction goes something like this. Since the West created the industrial revolution and the greenhouse gases that supposedly caused this "crisis," it's our obligation to take much of the burden for cleaning them up. read more »
On a hot July day in 1923 northern Montana served as the unlikely backdrop for a boxing extravaganza on the international stage. There on the plains right outside the City of Shelby, Jack Dempsey defended his World Heavyweight Boxing Championship against the hard-hitting Tommy Gibbons – the only world championship fight that Jack Dempsey ever fought that went the full fifteen rounds. read more »