Tuesday May 22nd, 2012

One of the first things written on this site was a lengthy six-part series on automation and its implications for the economy titled What Are People Good For? That article predicted continuing unemployment and decay, and sure enough, that's exactly what has occurred. You're sure to hear politicians blathering over the next few ( Read more... )

London to 'lose out' to Shanghai
London could be pushed into third place as a global financial centre by Shanghai in the next decade, according to a report.The survey, carried out by law firm Eversheds, suggests business leaders think the West is facing accelerated competition from the East ( Read more... )

There is key information in today's unemployment releases central to a lot of our questions about our recovery.

First off, is anyone here really surprised that the official unemployment rate has finally hit double digits?
I'm sure there are lots of Republican spinsters who will get on TV and talk radio to suggest that this would not have happened ( Read more... )

This article excerpted below might also be called
"When is a 'Jobless Recovery' not really a recovery at all?"

Economic Populist nails it:

Productivity, GDP, jobs and outsourcing

You see the headlines, you see the cheers. Don't you know the recession is over! Graphs, statistics, tables abound. People argue over margin of error, data points, and ( Read more... )

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It appears that the oughts have been even weaker than we were told... And not only is GDP now at risk for a sizable downward revision covering at least the current decade, if not longer, but manufacturing output looks to have been overstated by a factor as large as three!

So much for Kudlow & Greenspan's Goldilocks Era of High Productivity Gains.

( Read more... )