During the first ten days of October 2008, the Dow Jones dropped 2,399.47 points, losing 22.11% of its value and trillions of investor equity. The Federal Government pushed a $700 billion bail-out through Congress to rescue the beleaguered financial institutions. The collapse of the financial system in the fall of 2008 was likened to an earthquake. In reality, what happened was more like a shift of tectonic plates. read more »
Anyone can figure out the State of the Union by taking a good look around. I mean, I was born in the afternoon – but not yesterday afternoon – I don’t need four days of press coverage and a long speech by the President to tell me that Americans are suffering.
This time of year, though, everyone is looking for some hint of what is to come. Even the most rational among us are tempted to seek out some prediction of the future. Economists often rate high on the list of seers sought out by most Americans – right up there with stock brokers, Dionne Warwick’s Psychic Friends Network, and Joan Quigley (White House astrologer to the Reagans).
In this article, I’ll give you a few of my own predictions and then invite you to tell me the subject areas you want predicted. When pressed for my vision of the future, I like to add up what I already know to arrive at what I think will happen. read more »
As the campaign to ensure a complete and accurate count of every American in this year’s census gets off the ground, a new survey of American attitudes toward participating in the census shows that young Americans, members of the Millennial Generation, born 1982-2003, may prove least likely to stand up and be counted. The Pew Research Center for the People and the Press found that roughly one-third of 18-29 year olds hadn’t heard of the census, and even after having the process described to them, 17 percent were still unaware of just what the census involved. read more »
The debate surrounding the re-appointment of Ben Bernanke as Chairman of the Board of Governors of the Federal Reserve (the Fed) is not without historical parallel.
Just recall the RMS Titanic: It was April 14, 1912, when White Star’s “unsinkable” RMS Titanic, the largest and newest passenger liner in the world, was steaming from Southampton and Ireland to New York. The ship was traveling through a part of the North Atlantic where icebergs had been reported. read more »
Gentry liberalism, so hot just a year ago, is now in full retreat, a victim of its hypocrisy and fundamental contradictions. Its collapse threatens the coherence of President Barack Obama's message as he prepares for his State of the Union speech on Wednesday. read more »
Housing Unaffordability as Public Policy: The New Demographia International Housing Affordability Survey
The just released 6th Annual Demographia International Housing Affordability Survey shows some improvement in housing affordability, especially in the United States and Ireland but a continuing loss of housing affordability, especially in Australia. read more »
Now that Phoenix's ascendancy has been at least momentarily suspended, its residents are no doubt wondering what comes next. One tendency is to say the city needs to grow up and become more like East Coast cities or Portland, Ore., with dense urban cores and well-developed rail transit. The other ready option is always inertia - a tendency to wait for things to come back the way they were.
Neither approach will work in the long run. read more »
America's population growth makes it a notable outlier among the advanced industrialized countries. The country boasts a fertility rate 50% higher than that of Russia, Germany or Japan and well above that of China, Italy, Singapore, North Korea and virtually all of eastern Europe. Add to that the even greater impact of continued large-scale immigration to America from around the world. By the year 2050, the U.S. population will swell by roughly 100 million, and the country's demographic vitality will drive its economic resilience in the coming decades. read more »
The Virginia Department of Transportation does not like cul-de-sacs. You know, those little circles that suburban home dwellers worship so much and pay a premium to be located on? Under its regulations, all new subdivisions must have only through streets. Essentially, no more cul-de-sacs. Getting rid of these desirable dead-ends, according to the DOT, will improve safety and accessibility for emergency vehicles. read more »
By Richard Reep
Florida’s era of hard times continues. Last week we held a "Jobs Summit " here in Orlando but heard little but self-congratulation by politicians like Governor Charlie Crist. He praised the Legislature’s budget cuts but had little to claim when it came to reviving the economy. read more »