Consumerist: The U.S. has a giant cheese surplus and unfortunately, this is a bad thing. Bloomberg graph: Welcome to Cheese Mountain. (n.b. not a real, visitable, place) nymag: "Our great nation apparently had an inventory of 1.2 billion pounds at the end of March, the highest in 30 years." FoodDive: "Startups may see an opportunity to create marketable products out of inexpensive ingredients, and more cheese-based product startups could pop up and generate interest from investors and major manufacturers." Mashable: "Do your part. Eat more cheese."
Several recent developments reveal how political and institutional fragmentation in the United States has produced self-inflicted wounds for the U.S. abroad. In all of these instances, America’s ability to exercise economic power in the world has been deliberately curtailed through decisions made unilaterally in Washington by American political leaders.
Disruption’s Tragic Flaw The case of Uber shows why European companies should not follow the example of their American competitors too closely. It pays to take the needs of customers and contractors into account.
The Blip: What if everything we've come to think of as American is predicated on a freak coincidence of economic history? And what if that coincidence has run its course?
Rafael Vicente Correa Delgado was first elected president of Ecuador in Nov. 2006 and most recently for his third presidential term in Feb. 2013. Ecuador is sometimes identified as joining the Latin American leftist "pink tide" movement by electing Correa, and Correa in turn joined the Bolivarian Alliance for the Americas (ALBA) economic bloc in 2009, which also includes the countries of Venezuela, Cuba and Bolivia, and which was explicitly conceived by Hugo Chavez as an alternative to US-lead economic partnerships in the region. [more inside]
"Trusting your child with someone else is one of the hardest things that a parent has to do — and in the United States, it’s harder still, because American day care is a mess. About 8.2 million kids—about 40 percent of children under five — spend at least part of their week in the care of somebody other than a parent. Most of them are in centers, although a sizable minority attend home day cares.... In other countries, such services are subsidized and well-regulated. In the United States, despite the fact that work and family life has changed profoundly in recent decades, we lack anything resembling an actual child care system. Excellent day cares are available, of course, if you have the money to pay for them and the luck to secure a spot. But the overall quality is wildly uneven and barely monitored, and at the lower end, it’s Dickensian."
Tom Roeser was unhappy about the decline of his town, Carpentersville, IL. So he decided to do something about it. Roeser bought some foreclosed properties, renovated them, and then rented them out for below market value.
2012: The year in graphs - as picked by the Washington Post Wonkblog's favorite economists, political scientist, politicians and other wonkys.
There's been a lot of talk in the US media about the "Fiscal Cliff" and the "Grand Bargain" What are they?
The "fiscal cliff" is a confluence of three legal changes taking effect Jan. 1: the expiration of a payroll-tax cut, the expiration of the Bush-era tax cuts, and the advent of mandatory spending cuts known as "sequestration."Fiscal Cliff 101: 5 Basic Questions Answered. What's Happening: Fiscal Cliff Explained [more inside]
The November 6th elections saw a lot of historic decisions made in the United States -- the first black president re-elected, marijuana legalized for the first time in two states, gay marriage affirmed by the voters in four, and even the first openly gay senator. But perhaps the most underreported result yesterday came from outside the country altogether: in the commonwealth of Puerto Rico, a solid majority voted to reject the island's current status and join America as the long-fabled 51st state. How the bid might fare in Congress is an open question, but both President Obama and Republican leaders have vowed support for the statehood movement if it proves successful at the ballot box (while D.C. officials ponder a two-fer gambit to grease the wheels). Though it would be the poorest state, joining the Union might bring economic benefits to both sides [PDF]. And politically, some argue the island might prove to be a reliably red state, despite the Hispanic population, although arch-conservative governor and Romney ally Luis Fortuño appears headed toward a narrow loss. But the most important question here, as always, is: how to redesign the flag? (Puerto Rican statehood discussed previously.)
Student loan debt is now extending to K-12 private educations, fueled by parents who believe getting their children into the "right" primary school is essential to future success.
We're All State Capitalists Now 'No, according to some commentators, the contest between the two Asian superpowers is also fundamentally a contest between economic models: market capitalism vs. state capitalism.' [more inside]
The job market is saturated and graduates are unable to get hired anywhere to get proper training. Law professors Richard Rhee and Bradley Borden have a solution: law schools should open their own law firms.
"I had to stand in front of 92 people and say 'Not only do you not have a job anymore, you don't have a house anymore'". On June 20th, the United States Gypsum Corporation will shut down its plant in Empire, Nevada, the last Company town in America.
" ... the recession, particularly if it turns out to be as long and deep as many now fear, will accelerate the rise and fall of specific places within the U.S.—and reverse the fortunes of other cities and regions." From The Atlantic Online - How the Crash Will Reshape America
The Rise of the Rest. Fareed Zakaria's Newsweek article about a "post-American" world.
A very special 'This American Life' about an administration with the endemic belief that laws only apply to the little people, and a limitless refusal to concede on even petty issues, no matter the costs. The highlight is about immigrant widows of US citizens (30:50). The program also discusses the constitutional beliefs of the presidential candidates. [more inside]
Parity - The Canadian Dollar is (almost) at equal value to the American Dollar for the first time since 1976.
Party like it's 1892! "Executive power and patronage have been used to corrupt our legislatures and defeat the will of the people, and plutocracy has thereby been enthroned upon the ruins of democracy."* In the late 1800s, the Populist Party, or People's Party, formed to merge the Farmers Alliance message of economic empowerment for growers with the Knights of Labor's movement to check the growing power and corrupt practices of big business (along with the Greenbacks Party critiques of monetary policy). With a strong base in the midwest and south, the party earned 9% of the 1892 popular vote, won the presidential electoral votes of four states (not to mention electing 10 congressmen, 5 senators, 3 governors, and 1,500 state legislators). However the party's power quickly faded as the Democratic Party co-opted much of the Populist platform while internal disputes culminated in the Populists placing the Dems' 1896 nominee at the head of their own ticket. Nevertheless, the populist movement's influence continued to be felt through various 20th century reforms including direct election of senators, presidential term limits, and abandonment of the gold standard.
The $700 Million Gyroscope. A spacecraft set to test Einstein's General Theory of Relativity is now on the launch pad, with the world's most accurate gyroscopes stowed away inside. The experiment will have cost $700 million when the data is in and finally analysed. What practical benefits will the average American reap from this?