The Next Global Financial Crisis: Public Debt

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The cloud of the global financial meltdown has not even cleared, yet another crisis of massive proportions looms on the horizon: global sovereign (public) debt.

This crisis, like so many others, has its root in the free flow of credit from the preceding economic boom years. The market prices of assets were rising steadily. Rising valuations, especially where they were based on improving revenues from robust economic activity, led to rising income streams for governments. This encouraged governments to borrow more, perhaps often to expand services – and the bureaucracy required to offer services – although sometimes to improve infrastructure.  read more »

Tracking Business Services: Best And Worst Cities For High-Paying Jobs

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Media coverage of America's best jobs usually focuses on blue-collar sectors, like manufacturing, or elite ones, such as finance or technology. But if you're seeking high-wage employment, your best bet lies in the massive "business and professional services" sector.

This unsung division of the economy is basically a mirror of any and all productive industry. It includes everything from human resources and administration to technical and scientific positions, as well as accounting, legal and architectural firms.  read more »

Washington, DC: The Real Winner in this Recession

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No matter how far the economy falters, there is always a winner. And no city does better when the nation is at the brink of disaster than Washington, DC. Since December 2007, when the current recession formally began, the nation has lost approximately 6 million jobs. Only two states, Alaska and North Dakota, have lost a smaller percentage of jobs than Washington, DC, which has seen a job loss of 0.6%, or 4,400. Simply put, Washington has done better in this recession than 48 of the fifty states when it comes to job performance.  read more »

Recession Analysis: When will the job market fully recover?

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No one knows this answer for sure, but the data show some interesting trends for what's possible. This analysis takes two approaches to answer this question, including:

  • Total employment: suggests recovery in 2012

  • Employment growth rates: suggests recovery in mid-2010 ... but ...

This is a work in progress. Tomorrow the future will change.

Current status  read more »

Prince Charles is Britain's Master-eco-fraudster

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Thomas Paine was born in Thetford, Norfolk, in 1737. He understood that history is made. Aged 39, writing his Common Sense, he noted that Britain is constituted of '...the base remains of two ancient tyrannies, compounded with some new republican materials.' These were:

'First. - The remains of monarchical tyranny in the person of the king

Secondly. - The remains of aristocratical tyranny in the persons of the peers.

Thirdly. - The new republican materials, in the persons of the commons, on whose virtue depends the freedom of England.' (1)  read more »

Enviro-wimps: L.A.'s Big Green Groups Get Comfy, Leaving the Street Fighting to the Little Guys

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So far, 2009 has not been a banner year for greens in Los Angeles. As the area's mainstream enviros buddy up with self-described green politicians and deep-pocketed land speculators and unions who have seemingly joined the “sustainability” cause, an odd thing is happening: Environmentalists are turning into servants for more powerful, politically-connected masters.  read more »

Why Rapid Transit Needs To Get Personal

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Innovation in urban transportation is the only long-term correction for expensive environmental losses and energy waste. Why, then, isn’t there a US plan for more vigorous exploration and demonstration of new systems using advanced technologies, particularly automation? Where is the Personal Rapid Transit — PRT — in US transportation policy?  read more »

Telecommuting And The Broadband Superhighway

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The internet has become part of our nation’s mass transit system: It is a vehicle many people can use, all at once, to get to work, medical appointments, schools, libraries and elsewhere.

Telecommuting is one means of travel the country can no longer afford to sideline. The nation’s next transportation funding legislation must promote the telecommuting option...aggressively.  read more »

Who Killed California's Economy?

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Right now California's economy is moribund, and the prospects for a quick turnaround are not good. Unable to pay its bills, the state is issuing IOUs; its once strong credit rating has collapsed. The state that once boasted the seventh-largest gross domestic product in the world is looking less like a celebrated global innovator and more like a fiscal basket case along the lines of Argentina or Latvia.

It took some amazing incompetence to toss this best-endowed of places down into the dustbin of history. Yet conventional wisdom views the crisis largely as a legacy of Proposition 13, which in effect capped only taxes.

This lets too many malefactors off the hook. I covered the Proposition 13 campaign for the Washington Post and examined its aftermath up close. It passed because California was running huge surpluses at the time, even as soaring property taxes were driving people from their homes.  read more »

Death of the Suburbs: Part Nauseum

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For decades, those who know best have been chronicling the death of the suburbs. In every new announcement of demographic data, they find evidence that people are “moving back” to the core cities, even though they never moved away. The coverage of the latest Bureau of the Census city population estimates set a new standard. “Cities Grow at Suburb’s Expense During Recession” was the headline in The Wall Street Journal.  read more »