Jun 102011
 

Now you know. It is all right there on the front page of today’s New York Times, and in fewer than 300 words in this edited excerpt: Workers are getting more expensive while equipment is getting cheaper, and the combination is encouraging companies to spend on machines rather than people. [continue reading . . . ]






May 052011
 
New normal

Mohamed El-Erian and Bill Gross of Pacific Investment Management Company (Pimco), the world’s largest fixed-income manager, to the best of my knowledge originated the phrase “new normal” to indicate that things fundamentally changed following the Panic of September 2008 and its aftermath. After studying a number of their writings, freely [continue reading . . . ]