568 posts tagged with economy.
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Out of the frying pan and into the fire.

I know this has been on everyone's mind, but I just read this article today and was astounded at my lack of foresight. Silly me, here I was worrying about global warming when what I need to be fretting about is the decrease in fuel's impact on the structure of international banking! Will we run out of fossil fuel before it's too late to save the environment from pollution and greenhouse gasses? The abiotic nuts think we've got plenty more. Personally, I think we can kiss the marvel that is suburbia goodbye and start contemplating the fact that the focus on the post-post industrial revolution will not be information, but rather agriculture. And since solar panels and windmills and the like are made of materials that are extracted, transported, and fashioned by using oil-powered machinery, my money's on the folks who're stockpiling uranium for all those shiny new nuclear plants we're going to need. So, do we have a plan? You bet we do! Oh. Well, we'll just rely on the advancement of technology to allow us to weasel out of it! Me? I've actually always wanted a horse.
posted by Specklet on Apr 14, 2005 - 67 comments

A gilded tomorrow

An American paradox: Why so many families report being financially less secure even as the nation has grown more prosperous. The answer lies in a quarter-century-long shift of economic risks from the broad shoulders of business and government to the backs of working families.
posted by The Jesse Helms on Feb 28, 2005 - 28 comments

Da Deficit

How much? (sun times link) So the story is we're going to have an estimated $427 billion shortfall. So what does that mean? According to this guy the deficit is more of a metaphor than something real. According to newhouse news service the deficit gets added to the national debt (and is terrifying). According to this guy the deficit is not a well defined concept Will it stimulate the economy? Increase taxes? It's too complex for me even though it's in the news a lot. $7.9 trillion in debt doesn't sound good though... I think I'll just keep blaming this guy.
posted by Smedleyman on Jan 25, 2005 - 31 comments

Party like it's 1892

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.
posted by nakedcodemonkey on Jan 5, 2005 - 7 comments

Scrooge Good

Scrooge Good Dr. Landsburg is not always correct or clear when he tries to show how us how to best think counter-intuitively. But, he might be onto something here. His recommendation to make "saving" more tax free is probably a great one.
posted by narebuc on Dec 10, 2004 - 11 comments

Is this a good idea?

It's the stupid, economy. I'm no economist, but I'm reminded of the underpants gnomes business strategy when I read this. Obviously there is a political component (to the story) but what the $!@(# are the nuts and bolts? Why is pressuring economic engine states (California, New York) a good thing? (registration to the L.A. Times ... sry) Pretty much the same story here.
posted by Smedleyman on Dec 5, 2004 - 15 comments

Framing the Economic Debate

Framing the Economic Debate. If you read Metafilter, you've no doubt seen a few links criticizing Bush's handling of the economy. The unabashed partisans at the Heritage Foundation have put together a document from which many of Bush's talking points about the economy (tonight, and throughout the campaign) are likely to come.
posted by Kwantsar on Oct 8, 2004 - 16 comments

On the eve of tonight's debate, more bad news for Bush.

On eve of tonight's debate, more bad news for Bush. The economy stumbled last month, with only 96,000 new jobs -- far short of the 138,000 jobs the Bush Administration predicted, or the 150,000 new jobs needed every month just to keep up with population growth. Another interesting tidbit is that 37,000 of the 96,000 new jobs are government employees, up from 24,000 in August and 11,000 in July. Is the timing coincidental? Meanwhile, electoral-vote.com changed their methodology -- again -- so that it more accurately reflects recent poll results. The difference is striking.
posted by insomnia_lj on Oct 8, 2004 - 36 comments

bakesales! lemonade stands!

Dick Cheney claims that disappointing jobs numbers are undercounting ebay power sellers. The man is on a tear!
posted by luser on Sep 10, 2004 - 47 comments

Property, Intellectual Property and Free Riding

My cattle grazing grounds are not my idea and vice versa. But thanks to laws I can "own" the idea as if the idea was a cow ; link goes to a interesting university-level paper [PDF]. The author makes some interesting analysis and points attention to the fact that current intellectual property laws can go against well established economic theories at the expense of free market competition theory, technical innovations and society-as-a-whole best interest.

Recommended to people with economic theory experience , but also to everyday public-goods-privatization opposers as the paper isn't (intentionally) way too technical.
posted by elpapacito on Sep 10, 2004 - 4 comments

Tax Man

Tax Man Bush says tax cuts stimulate the economy. Unfortunately, he's fallen more than 2.2 million jobs short of the projection made by his own economists.
posted by Postroad on Jul 28, 2004 - 6 comments

June 2004...The Beginning Of The End?

this is the end as we know it. Aussie Bloke describes upcoming catastrophic meteor showers. A mysterious Australian astronomer is ranting about something earth shattering in on the horizon, odd naval fleet movement, strange economic activity and interesting meteor activity. Truth or hoax, What does it all mean?
posted by lsd4all on Jun 3, 2004 - 51 comments

The $700 Million Dollar Gyroscope

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?
posted by DWRoelands on Apr 13, 2004 - 51 comments

Good news for 308,000 American citizens and one President.

U.S. job growth strongest in 4 years in March. Non-farm payrolls climbed 308,000 in March, the Labor Department said, the biggest gain since April 2000. However, the unemployment rate actually ticked upward from 5.6%, the two-year low seen in January and February, to 5.7% in March. Note in passing that this took place during the Bush administration!
posted by msacheson on Apr 2, 2004 - 67 comments

The phrase ''Banana Republican'' comes to mind

I.M.F. Report Says U.S. Deficits Threaten World Economy
With its rising budget deficit and ballooning trade imbalance, the United States is running up a foreign debt of such record-breaking proportions that it threatens the financial stability of the global economy, according to a report released Wednesday by the International Monetary Fund. Prepared by a team of I.M.F. economists, the report sounded a loud alarm about the shaky fiscal foundation of the United States, questioning the wisdom of the Bush administration's tax cuts and warning that large budget deficits pose "significant risks" not just for the United States but for the rest of the world. The report warns that the United States' net financial obligations to the rest of the world could be equal to 40 percent of its total economy within a few years--"an unprecedented level of external debt for a large industrial country," according to the fund, that could play havoc with the value of the dollar and international exchange rates.
From The Brookings Institute: Sustained Budget Deficits: Longer-Run U.S. Economic Performance and the Risk of Financial and Fiscal Disarray (Full Report PDF)
posted by y2karl on Jan 8, 2004 - 60 comments

Conservation economy

A pattern map for a conservation economy [Flash.] "The pattern map offers a visual guide to the sustainability patterns that provide a framework for developing a conservation economy." [Via WorldChanging.]
posted by homunculus on Dec 7, 2003 - 8 comments

WalmartFilter

WalmartFilter: "Wal-Mart controls a large and rapidly increasing share of the business done by most every major U.S. consumer-products company: 28% of Dial total sales, 24% of Del Monte Foods, 23% of Clorox, 23% of Revlon... Wal-Mart plans to open 1,000 more supercenters in the U.S. alone over the next five years.. giving it control over 35% of U.S. food sales and 25% of drugstore sales...The $12 billion worth of Chinese goods Wal-Mart bought in 2002 represented 10% of all U.S. imports from China." Setting aside questions of monopoly, isn't this a potentially dangerous monoculture?
posted by alms on Oct 15, 2003 - 95 comments

Have more sex

Have more sex says the Conservative party in the UK, procreate for the good of the economy and solve the looming pensions crisis. "Europe's real demographic crisis is not longevity but birth rates". Research says, apparently, that most women want more children than they have, but could it also be the case that a growing number of people just don't see the attraction?
posted by jonvaughan on Sep 24, 2003 - 30 comments

Towards a robot-based economy.

Towards a robot-based economy. Lots of interesting ideas here regarding what might happen and possible solutions to economic and social problems when robotics and automation become as cheap as computers did in the 90s.
posted by skallas on Aug 31, 2003 - 20 comments

Cyberclass Consciousness

10% of American tech sector jobs will move offshore by the end of the year. Cyber-Marx (1999):
"... globalisation has given some knowledge workers, largely male, largely white, associated with high tech, finance, communication and information an exceptional importance. Concentrated in the technopoles that form the hubs of "global webs," these constitute a layer of privileged labour on whose loyalty capital can largely rely. But analysis that sees "symbolic analysts" as the crucial actors in globalisation does not grasp the speed with which capital turfs yuppies from the lifeboat when cheaper replacements can be found. Even symbolic analysts feel the blast of globalisation, as North American computer programmers are undercut by Lithuanian or Indian competition, and architects, engineers and professors discover that those who can telecommute can always be teleterminated by cheaper services uploaded from anywhere on the planet.
True? What effect will this trend have on the digerati as a class, do you think?
posted by hairyeyeball on Aug 7, 2003 - 30 comments

We must pay attention to bubbles

Argentina Didn't Fall on Its Own. (Single-page, printer-friendly version here.) I don't normally read long articles on economic subjects, but this one is riveting, because it links Argentina's collapse to larger issues of how the world of money works today.
"The time has come to do our mea culpa," Hans-Joerg Rudloff, chairman of the executive committee at Barclays Capital, said at a conference of bank and brokerage executives in London a few months ago. "Argentina obviously stands as much as Enron" in showing that "things have been done and said by our industry which were realized at the time to be wrong, to be self-serving."

...It is like "a bizarre AA program in which you remove booze from the homes of people who are reducing the amount they drink and put it into the homes of people who are drinking more every day," Pettis said. "This is probably not the best way to reduce drunkenness."

posted by languagehat on Aug 3, 2003 - 7 comments

The Caller You Have Reached is Unavailable and/or Annoyed

The day the dinnertime phone calls stopped. We've previously discussed the new national do-not-call list on Mefi, but this Salon piece puts a new spin on the subject. Millions of rural Americans will inevitably lose telemarketing jobs because telemarketing will be regulated out of business. But the government isn't regulating them out of business, it is just providing a way for people to choose not to participate in this business scheme. The people who add their names to the list are the people who are going to hang up in the telelmarketer's face anyways, so where's the harm in this list? And what about the DMA's 10 reasons to protect the teleservices industry?
posted by archimago on Jul 15, 2003 - 64 comments

The Hypen Closes

A little coffee shop in a little North Carolina town closes. When I worked in Fuquay-Varina, N.C., the opening of the Hyphen (get it? get it? the Hyphen in Fuquay-Varina?) was a miracle. There, in the midst of antique stores, clothiers, and the Bob Barker Co., was this hip, unique eatery owned and operated by two local artists. Owner Nina Fortmeyer partially cites that the little tobacco town has simply become "Wal-Mart-ized" in its growth, leading to a loss in downtown foot traffic, leading to lost business. This, methinks, is the greatest and most obvious consequence of globalization, the mom-and-pops being run out of town. If this is happening in Fuquay-Varina, it is absolutely happening everywhere. Very sad.
posted by NedKoppel on Jul 8, 2003 - 63 comments

grieder article on deflation

Deflation Nation "This legacy of accumulated excesses lies across the American economy like a heavy wet blanket"
posted by thedailygrowl on Jun 20, 2003 - 6 comments

Where is the federal reserve leading us?

Monetary Policy in a Zero-Interest-Rate Economy [pdf] This report written by the Dallas Fed is amazing. Amongst other things, it outlines a plan to tax your savings as a way to continue to stimulate consumption should rates fall to zero. While opinions of the 'fed range from worship to outrage, their actions raise some serious questions. Why does this unelected group wield so much power? At what point are their actions (taxing savings) a violation of our property rights? If our economy is built on capitalism, why can we not be capitalists and embrace the opportunity presented by both boom and bust? At what point are we a command economy?
posted by H. Roark on Jun 19, 2003 - 17 comments

Mister, that sure is one big baby...

Drowning the government in a bathtub - "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub." Thus spoke Grover Norquist, of Americans for Tax Reform. "The lunatics are now in charge of the asylum", quipped the conservative UK Financial Times. Hardly, says Paul Krugman. The strategy?: "Instead of challenging popular liberal programs directly, the Republicans are creating fiscal conditions that make those programs unsustainable." [lead post, Am. Prospect]. In other words, the 400 billion dollar deficit, coupled with the Bush tax cuts, is designed to shift the obligations of the Fed onto the States and, later, to cause a fiscal train wreck after Bush is out of office.
posted by troutfishing on Jun 12, 2003 - 58 comments

Tax Cut? You're Soaking In It!

Quick, Hide The Body! "...But the Bush administration chose to keep the findings out of the annual budget report for fiscal year 2004, published in February, as the White House campaigned for a tax-cut package that critics claim will expand future deficits. The study asserts that sharp tax increases, massive spending cuts or a painful mix of both are unavoidable if the US is to meet benefit promises to future generations. It estimates that closing the gap would require the equivalent of an immediate and permanent 66 per cent across-the-board income tax increase."
posted by owillis on May 28, 2003 - 18 comments

Bond Funds and the Liquidity Trap

Interest rates are so low that you lose money buying bond funds. A preview of the liquidity trap?
posted by alms on May 20, 2003 - 10 comments

How's them apples?

Executive Pay-Day Perhaps, if we don't maintain the greatest worker-to-executive salary discrepancy in the world, the terrorists win.
posted by subpixel on May 5, 2003 - 20 comments

Happy Days Are Here Again: Tax Cuts and The Jobless Recovery

The change in private employment, two years after recession began, for 1953 to Present.
Details: The jobless recovery continued in March 2003 as the nation's payrolls contracted by 108,000, according to report released today by the Bureau of Labor Statistics (BLS). These losses are in addition to last month's payroll declines, which also were revised up to 357,000. Taken together, the economy has lost 465,000 jobs in the past two months. In the two years since the recession began in March 2001, total payrolls have fallen by 2.1 million and private sector payrolls are down by 2.6 million.
The Jobless Recovery.
Low growth accompanies record trade deficit:
Last month in Beijing, Robert Zoellick, President George W. Bush's international trade ambassador, had nothing but praise for China's growing trade surplus. Meanwhile in St. Louis in January, the president stumped for more tax cuts, standing before a facade of boxes with the words "Made in China" covered over in tape.
2001 Tax Cuts and the Proposed 2003 Cuts
Details: Discarding pretense of tax cut equity
Also: Economists Voice Opposition to Bush Tax Cuts
posted by y2karl on Apr 16, 2003 - 43 comments

bread hours

http://www.Breadhours.org A group of over 300 residents and merchants in California’s Bay Area has established a local currency called BREAD (a rough acronym for Bay Area Regional Exchange and Development), based on hours of work valued at $12 an hour. Through the BREAD network, which now has over $20,000 worth of currency in circulation, members can pay for dinner, carpentry, childcare, tutoring, clerical assistance or organic produce. Tired of traditional activism, founder Miyoko Sakashita wanted to create a positive local economy and “stop our resources from supporting global corporations that are not accountable to people and the environment.” Check it out at Breadhours.org
posted by bureaustyle on Mar 15, 2003 - 28 comments

The United States Is In Deep Doo doo!

The United States Is In Deep Doo doo! In the end, there is no such thing as a free lunch. You cannot make money grow in value by shaking it back and forth from one bank to another. You cannot prosper a nation by doing each other's laundry, or filling out their government mandated and greatly obfuscated paperwork, or flinging stock certificates around which may have as little real worth as Federal Reserve Notes. To make money, to show a profit, you must make products that somebody else wants to buy, and sadly, that is a capability the United States has allowed to slip away in great measure.
posted by stazen on Mar 14, 2003 - 21 comments

The Corporate Siege of America

The Corporate Siege on the people of New York City. The corporate siege on the people of the United States of America.
posted by crasspastor on Mar 8, 2003 - 7 comments

Take a deep breathe. This won't hurt a bit.....

DIVE! DIVE! DIVE! - Markets in free fall. Remember the heady DotCom bubble days, and innocuous scandals - Clinton & Monica,the cigar?! Then, WHAM: 9-11, Enron, Worldcom et. al, the push for invasion of Iraq, ballooning deficits, while a new US neocolonial American ideology of preemption suggests more invasions to come - with a worldwide surge in anti-American attitudes. "Irrational Exuberance" turned to terror, fear, worry, anger, rage. What possible train of events and U.S. government policies could more efficiently send world economic markets into free fall? Hold on: it was a two decade long ride up - the ride down has merely begun. Those among us with a few spare billion lying around will wait until the bottom, and buy on the cheap. For everyone else, it's bankruptcy, frugality, middle class decline, cans 'o beans and darned socks. But cheer up: play, joy, creativity, generosity, indeed love itself - and also the classic "recreation of the poor" are all free.
posted by troutfishing on Mar 7, 2003 - 79 comments

Forecast: Fun!

Play the classic lemonade stand game. (jave req'd). Or, for more grown-up fun, play BeerStand (no java req'd).
posted by Ufez Jones on Feb 28, 2003 - 14 comments

Bush Cited Non-Existent eport

Bush Cited Non-Existent eport There was only one problem with President George W. Bush's claim Thursday that the nation's top economists forecast substantial economic growth if Congress passed the president's tax cut: The forecast with that conclusion doesn't exist.
posted by orange swan on Feb 24, 2003 - 82 comments

Could he be right yet again?

Could he be right yet again? : Interview with Bob Prechter (and another one) If he is, we're all in for a world of hurt. In this three part interview, Elliott Wave International president Robert Prechter discusses his new book, “Conquer The Crash: How To Survive and Prosper in a Deflationary Depression.” During the 1980s, Bob Prechter won numerous awards for market timing as well as the United States Trading Championship, culminating in Financial News Network (now CNBC) granting him the title, "Guru of the Decade." In 1990-1991, he was elected and served as president of the nation-al Market Technicians Association in its 21st year. He has also published a seminal book on Elliott wave analysis titled, “Elliott Wave Principle – Key To Market Behavior,” three books on the major practitioners of wave analysis, and books on his own views in Prechter's Perspective and At the Crest of the Tidal Wave.
posted by muppetboy on Feb 13, 2003 - 47 comments

Could this be true?

Could this be true? I've done all I know to do to see if it's a bogus claim, and I may be really naive, but... it is interesting. I'm curious to see if any of my fellow MeFi-ers can shed some light on it. It's supposedly an email from someone named Laurie who writes for Newsday and it expresses her impressions of the World Economic Forum quite candidly. Could it be real or am I a sucker?
posted by sparky on Feb 11, 2003 - 155 comments

Student loans suck. What more needs to be said?

Ted Rall says that college loans are killing America. I'm inclined to agree. At just $14,736, I'm on the lighter-side of college loan debt, but being a single father, I have a hard time making a dent. Ted makes some salient points about young adults who are struggling to make money in a recession. They don't work for the Peace Corps, they don't volunteer, etc. Even China criticizes America on our insistence that students endebt themselves to corporations just for education.(via fark)
posted by taumeson on Feb 11, 2003 - 94 comments

The Euro Effect Iraq Oil and threat to the dollar

Is the currency that oil is denominated in the real reason for the Iraq War? "The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro. (Note: the dollar declined 17% against the euro in 2002.)"
posted by thedailygrowl on Feb 11, 2003 - 35 comments

The real experts, on war with Iraq

Why Gen X doesn't care that Gen X doesn't care about the war - in which an irreverent, arrogant, crass young essayist hits a nerve. What RAND has to say about the impact of Iraqi oil on the world economy. Who's organizing large demonstrations against war on Iraq, and who's upset about this. Spend an hour with the real experts on Iraq, real Iraqis, and real people who can't make the case for war. (RealPlayer) This in-depth broadcast interview features some truly key players, the real arguments on both sides, and you probably never heard it, making the case for Internet Radio.
posted by sheauga on Jan 21, 2003 - 37 comments

Genuine leadership

When it comes to the economy, President Bush is demonstrating genuine leadership. If you don't believe me, ask Kyle Klink, Scott Herrin, Michael Snyder, John Pinckney, or countless others. But not Paul Boutin.
posted by rcade on Jan 18, 2003 - 38 comments

Tax Cuts

How Bush's economic stimulus proposal may affect you. An easy to understand explanation of what we might expect from Bush's tax cut proposal to be announced on Tuesday.
posted by Ron on Jan 6, 2003 - 48 comments

Report on layoffs killed

Shooting the messenger. "The Bush administration, under fire for its handling of the economy, has quietly killed off a Labor Department program that tracked mass layoffs by U.S. companies." (via madamjujujive)
posted by four panels on Jan 4, 2003 - 38 comments

Euro Diffusion

Euro diffusion: "On January 2002 twelve European countries [plus San Marino, the Vatican and Monaco] have welcomed the euro as their new coin. The euro coins have a national side, which is different for every country... So there are fifteen different euro coins that can be used in every one of those 15 countries. Therefore, unlike in the past, the coins will not be collected and brought back to their home country. The coins will slowly but surely be spreaded over the 15 countries. This is the diffusion of the euro, the euro diffusion[.pdf file]." A statistician's playground, this unique historical opportunity, is leading to interesting collaborative internet projects
posted by talos on Dec 19, 2002 - 17 comments

China. Abandons Communism. Gets AIDS. May be about to lose its shirt. While everybody on the pink side of Ebenezer Scrooge is pissing and moaning about the state of America, here's one American who thinks the state of the Middle Kingdom is at least equally interesting (as in ancient Chinese curse, "May you live in interesting times.")
posted by jfuller on Nov 12, 2002 - 11 comments

Post a great earnings quarter then

Post a great earnings quarter then cut jobs and send them to India. Nice job Bank of AMERICA
posted by Macboy on Oct 22, 2002 - 21 comments

Reality check from Swiss Re and UNEP

Reality check from Swiss Re and UNEP "The increasing frequency of severe climatic events...has the potential to stress insurers, reinsurers and banks to the point of impaired viability or even insolvency." "Climate Change and the Financial Services Industry", a UNEP report supported by 295 banks and insurance and investment companies around the world. The report concludes that, worldwide, loses from Climate related disasters are doubling every decade . NOAA generally concurs. Dr. Bob Gagosian, Director of Woods Hole, has even worse news. Should we take the scientific mainstream seriously? Or is it all "Junk Science"according to the industry funded Steve Milloy or the CEI, or even a New Age Pagan Conspiracy? Play on little humans......play on.....
posted by troutfishing on Oct 9, 2002 - 15 comments

Sweden's faultering population.

Sweden's faultering population. Sweden has a population problem and it's effecting the economy. One women has come up with a brilliant solution.
posted by Grod on Sep 19, 2002 - 25 comments

The End of Empire?

The End of Empire? "You can't sustain an empire from a debtor's weakening position--sooner or later the creditors pull the plug. That humiliating lesson was learned by Great Britain early in the last century, and the United States faces a similar reckoning ahead."
posted by homunculus on Sep 9, 2002 - 39 comments

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