A Structural Change in the U.S. Economy. Reuters reports this morning that the number of new U.S. jobs soared at the sharpest rate in seven months in October. This is further evidence of an economic expansion in the U.S., but as the Wall Street Journal suggested last month, “this economic expansion is different from those… Continue reading A Structural Change in the U.S. Economy
Month: November 2004
Beta: Thunderbird 0.9
Beta: Thunderbird 0.9. The Mozilla-based email and newsreader adds saved search folders, message grouping by attributes, improved privacy controls for blocking remote content in email, and other changes. [MacInTouch]
Update: DEVONnote 1.5
Update: DEVONnote 1.5. DEVONtechnologies' notepad and information collector uses the new DEVONthink Pro core and adds an overhauled interface, extended text editing functions, and other improvements. [MacInTouch]
Update: REALbasic 5.5.4
Update: REALbasic 5.5.4. The cross-platform development system adds improvements in several areas, including team development, shell scripts and OLE objects for Windows [MacInTouch]
Protecting the Freedom to Dissent During War
Protecting the Freedom to Dissent During War. Geoffrey R. Stone's timely book gives the reader an illuminating brief of the tension in American history between liberty and security. By MICHIKO KAKUTANI. [NYT > Books]
Bush lays out firm course
Bush lays out firm course. WASHINGTON — Declaring “I've got the will of the people at my back,” President Bush yesterday outlined a broad agenda for his second term that will include attempts to revamp the nation's tax code and Social Security system while pursuing an aggressive foreign policy aimed at protecting the United States… Continue reading Bush lays out firm course
The working class flocks to GOP
The working class flocks to GOP. A losing cultural and religious battle, combined with too little talk of the economy and too much late-campaign focus on Iraq, is probably what doomed Sen. John Kerry's bid on Election Day. That was the thrust of the post-mortem this morning conducted by Democratic pollster Stan Greenberg, who worked… Continue reading The working class flocks to GOP
Ten Ways to Kill Design
Ten Ways to Kill Design. “It’s a given that we at Cooper—and most of you reading this article—believe design is the right tool for translating market needs into tangible product specifications. The people who hire us to design their products or who attend our Cooper U courses think the same thing. Unfortunately, the best designs… Continue reading Ten Ways to Kill Design
It is interesting that the “corrupt” and “liberal” Massachusetts has the lowest divorce rate in the country. In contrast, the so-called “Bible Belt” runs 50% higher than the national average. [John Robb's Weblog
It is interesting that the “corrupt” and “liberal” Massachusetts has the lowest divorce rate in the country. In contrast, the so-called “Bible Belt” runs 50% higher than the national average. [John Robb's Weblog]
Here's one idea that needs to be talked about: being a superpower will bankrupt any nation that attempts it.
The Soviet Union's financial demise was proof of concept. The fact
that the US didn't collapse in the eighties was due to the superiority
of our economic system. It didn't mean that we could continue the
effort indefinitely without severe damage and eventual collapse.
Sure, on the surface our economy looks great. However, as you dig
deeper the damage become visible. The large budget and trade deficits
we have been running since Reagan's defense surge in the 80's have had
an impact. Warren Buffett's analysis demonstrates this:
In the late 1970s the trade situation reversed, producing
deficits that initially ran about 1% of GDP. That was hardly serious,
particularly because net investment income remained positive. Indeed,
with the power of compound interest working for us, our net ownership
balance hit its high in 1980 at $360 billion.
Since then, however, it's been all downhill, with the pace of
decline rapidly accelerating in the past five years. Our annual trade
deficit now exceeds 4% of GDP. Equally ominous, the rest of the world owns a staggering $2.5 trillion more of the U.S. than we own of other countries. Some
of this $2.5 trillion is invested in claim checks—U.S. bonds, both
governmental and private—and some in such assets as property and equity
securities.
This loss of ownership has now reached 5% growing at a rate of 1% a
year (a rate that will accelerate as the power of compounding interest
works against us). The real question for all us is: when will the
superpower tax overwhelm us financially and we end up with the same
fate as the Soviet Union? [John Robb's Weblog
Here's one idea that needs to be talked about: being a superpower will bankrupt any nation that attempts it. The Soviet Union's financial demise was proof of concept. The fact that the US didn't collapse in the eighties was due to the superiority of our economic system. It didn't mean that we could continue the… Continue reading Here's one idea that needs to be talked about: being a superpower will bankrupt any nation that attempts it.
The Soviet Union's financial demise was proof of concept. The fact
that the US didn't collapse in the eighties was due to the superiority
of our economic system. It didn't mean that we could continue the
effort indefinitely without severe damage and eventual collapse.
Sure, on the surface our economy looks great. However, as you dig
deeper the damage become visible. The large budget and trade deficits
we have been running since Reagan's defense surge in the 80's have had
an impact. Warren Buffett's analysis demonstrates this:
In the late 1970s the trade situation reversed, producing
deficits that initially ran about 1% of GDP. That was hardly serious,
particularly because net investment income remained positive. Indeed,
with the power of compound interest working for us, our net ownership
balance hit its high in 1980 at $360 billion.
Since then, however, it's been all downhill, with the pace of
decline rapidly accelerating in the past five years. Our annual trade
deficit now exceeds 4% of GDP. Equally ominous, the rest of the world owns a staggering $2.5 trillion more of the U.S. than we own of other countries. Some
of this $2.5 trillion is invested in claim checks—U.S. bonds, both
governmental and private—and some in such assets as property and equity
securities.
This loss of ownership has now reached 5% growing at a rate of 1% a
year (a rate that will accelerate as the power of compounding interest
works against us). The real question for all us is: when will the
superpower tax overwhelm us financially and we end up with the same
fate as the Soviet Union? [John Robb's Weblog