John Merline asks, “Where Did All Those ‘Green Shoots’ Go?” In an Aug. 2 op-ed headlined “Welcome to the Recovery,” Treasury Secretary Timothy Geithner said that “we are on a path back to growth.” Eight days later, the Federal Reserve issued a report saying the “pace of recovery in output and employment has slowed in…
Economy
Economy, Politics
Voter Volatility Hits Fever Pitch – WSJ.com
by JOHN ADAMS •
Gerald Seib writes that It’s becoming increasingly clear that Americans arent simply in the midst of hard times. They are in the midst of one of the most volatile political environments since World War II.The immediate cause of this volatility is clear enough to see. Just a few months ago, there was a chance that…
Economy, Taxes/Taxation
Analyst: Odds of Double Dip Recession Higher Than 50-50
by JOHN ADAMS •
I have no way of calculating the likelihood of another recession. More meaningfully, and without any predictions, one can see that present conditions are already hard for millions of unemployed Americans. It’s telling that no major analyst seems to be predicting better times soon. We can assure a return of better times sooner, however, if…
Economy, Government Spending, Taxes/Taxation
Krugman Is Wrong on Ryan and the CBO – McArdle @ The Atlantic
by JOHN ADAMS •
Development, Economy, Planning
Richard Florida Discusses the Great Reset of Urban Development in Economic Downturns
by JOHN ADAMS •
Richard Florida, author of The Great Reset, discusses how this recession may change American life as did the depression of the 1870 and the Great Depression. Florida is interested in national trends, and especially the great cities of America. He contends that transportation infrastructure was, and may yet, be a good investment. Nonetheless, he acknowledges…
Economy
U.S. Incomes Tumbled in 2009 – Wall Street Journal
by JOHN ADAMS •
Economy
Wisconsin Center for Investigative Journalism: Rock County Feeling Increasing Ripples from GM Departure
by JOHN ADAMS •
Over at the Wisconsin Center for Investigative Journalism, Sara Jerving writes about nearby Rock County’s economy following the departure of GM from Janesville, Wisconsin. In Rock County Feeling Increasing Ripples from GM Departure,” Jerving describes the impact on the area: More than a year after GM closed its plant in Janesville after three waves of…
Economy, Politics
Peggy Noonan: America Is at Risk of Boiling Over – WSJ.com
by JOHN ADAMS •
When the adults of a great nation feel long-term pessimism, it only makes matters worse when those in authority take actions that reveal their detachment from the concerns—even from the essential nature—of their fellow citizens. And it makes those citizens feel powerless. Inner pessimism and powerlessness: That is a dangerous combination. I see Noonan’s point,…
Economy
U.S. Employers Shed 131,000 Jobs in July; Unemployment Rate Steady at 9.5% – WSJ.com
by JOHN ADAMS •
The government’s latest snapshot of the job market was bleak, a sign the economic recovery is running out of steam with 14.6 million Americans still searching for work. Job growth proved anemic in July as governments cut jobs and private-sector employers barely expanded. The economy shed 131,000 jobs, as 143,000 temporary Census workers fell off…
Economy
Second-Quarter Slowdown Likely Worse Than First Thought – Real Time Economics – WSJ
by JOHN ADAMS •
The slowdown in economic growth recorded in the second quarter was likely even less robust than initially reported on Friday, according to new inventory data released today. Inventories have had a major impact on growth over the past few quarters, and the change was estimated to have added more than one percentage point to the…
Economy
The 2.4% Recovery – WSJ.com
by JOHN ADAMS •
Yesterday’s report also contained the government’s annual historic GDP revisions, and growth was revised downward for the last three years. This means the U.S. is $130 billion, or 1%, poorer than previously thought and that growth will have to be that much faster to catch up…. The message of 2.4% second quarter growth is closer…
Economy
AP: Recovery Slows in Second Quarter to Weakest in Nearly a Year as Consumers Turn Cautious
by JOHN ADAMS •
Economy, Government Spending, Politics
Walworth County Sunday on “Time to Open the Roadmap”
by JOHN ADAMS •
City, Economy, Government Spending
Bloomberg: Jobless Claims in US Declined by 11,000 to 457,000
by JOHN ADAMS •
It’s less than we need. The story reports that a collection of local government associations estimated that, nationally, local governments may cut almost 500,000 jobs through 2011 (or 8.6% of their total workforces). These are only estimates, and they say nothing about how any particular community will fare. In any event, sacrifices should always begin…