Feb 122017
 

Don’t miss the excellent piece on the importance of immigrants to Silicon Valley in the New York Times February 9, 2017. Some highlights: “Silicon Valley is unlikely, as a phenomenon — it is not the default state of the world,” said John Collison, an immigrant from Ireland who is a [continue reading . . . ]






Jan 142017
 
Where the money is

When it comes to median household income, tech powerhouses, especially in California, and suburbs of Washington, D.C., tend to dominate the top lists. Among cities with more than 65,000 population, Palo Alto ranked No. 1 in 2015 (latest data) at almost $148,000. Half of households in Palo Alto had higher income [continue reading . . . ]






Jan 142017
 
Temperature rising

It’s winter outside — cold, snowy, wet. But when it comes to the economy, especially as measured by employment growth, there’s a heat wave on the West Coast (aka the Left Coast). Washington and Oregon, in particular, are mucho caliente. Employment in the services-providing sectors grew faster in the Evergreen [continue reading . . . ]






Jan 042017
 
Living dangerously

The global economy is likely to grow at between 3% and 4% in 2017 adjusted for inflation and differences in exchange rates. Emerging economies, led by Asia, are likely again to outgrow advanced economies (the U.S., Europe, Japan). That’s the word from one of the world’s most respected and widely followed [continue reading . . . ]






Aug 152016
 
Economic update

For a quick economic update for members of Bellevue Rotary recently, I updated several slides I usually include as a part of my talks and added a new one or two. You can download all of them as a PDF file here. Among bullet points: We live in a slow-growth world. [continue reading . . . ]






Apr 112016
 
NIRP's unintended consequences

What if the negative interest rate policies (NIRP) that have been adopted by major central banks had effects opposite what was intended? The idea is to fight DEflation and to nudge consumers to spend by penalizing banks for keeping money on deposit. The theory is that banks will lend rather [continue reading . . . ]






Feb 112016
 

A perfect illustration in today’s Seattle Times — and yes, I still read newspapers on dead trees, four a day in fact — how our economy operates today at warp speed. On Page 1, news that in response to competitive pressure from Airbus,  Boeing will be cutting costs and trimming [continue reading . . . ]






Feb 112016
 

I can’t help but think what’s going on in global markets seems like a re-run of what happened in the fall of 2008, when Lehman Brothers failed, banks had to be bailed out and the worst recession since the Great Depression ensued. AP business writer Alex Veiga neatly sums up [continue reading . . . ]