Wall Street Journal (February 6, 2012)
“It’s hard to keep the U.S. economy down…. Employers added 243,000 net new jobs in January.” At just 8.3%, unemployment fell to the lowest rate since February 2009. But the durability of the economic recovery remains to be seen. “The job growth this time is stronger, though GDP growth is still well below the pace of a normal recovery. Even with the recent gains, this is also by far the worst jobs recovery since the Great Depression.”
“It’s hard to keep the U.S. economy down…. Employers added 243,000 net new jobs in January.” At just 8.3%, unemployment fell to the lowest rate since February 2009. But the durability of the economic recovery remains to be seen. “The job growth this time is stronger, though GDP growth is still well below the pace of a normal recovery. Even with the recent gains, this is also by far the worst jobs recovery since the Great Depression.”
Tags: Employment, GDP, Great Depression, U.S., Unemployment
Financial Times (February 5, 2012)
Times are changing. “In 1969, the US accounted for 36 per cent of global income at market prices…. By 2010, the US accounted for just 23.1 per cent of world income.” In contrast, “China’s economy, meanwhile, was barely an eighth the size of the US’s in 2000. Today it is 41 per cent.”
Tags: China, Economies, Global income, U.S.
The Economist (February 2, 2012)
China’s air is flooded with tiny particulate matter (PM2.5) that endangers health. The World Health Organisation (WHO) “guidelines suggest that PM2.5 levels above ten micrograms per cubic metre are unsafe.” Almost all of China is above this level. ”Indeed, much of the country’s population endures air so foul that it registers above 30 on the PM2.5 scale, with Shandong and Henan provinces topping 50.”
Tags: Air, China, Particulate matter PM2.5, Pollution
New York Times (February 1, 2012)
If implemented, a Buffet Rule that requires “million-dollar earners to pay at least 30 percent of their income in taxes” would lift the tax rates of about 94,500 millionaires and bring in an additional $50 billion. The New York Times calls the Buffet Rule a good start “toward making the rich pay a fairer share and reduce the mounting cuts to government programs that benefit the less fortunate.”
If implemented, a Buffet Rule that requires “million-dollar earners to pay at least 30 percent of their income in taxes” would lift the tax rates of about 94,500 millionaires and bring in an additional $50 billion. The New York Times calls the Buffet Rule a good start “toward making the rich pay a fairer share and reduce the mounting cuts to government programs that benefit the less fortunate.”
Tags: Buffet rule, Government, Millionaires, Taxes, U.S.
Washington Post (January 31, 2012)
The Post urges Congress to deal with the mounting long-term debt problem without jeopardizing the economy. “The smart path would deal with the debt in a way that is gradual, balanced between spending cuts and revenue increases and intelligently targeted rather than the current law’s bludgeon.” Trying to reduce the debt too quickly would be “dumb” and cause the economy to crash. Simply ignoring the debt problem, however, would be “dangerous.”
