Idyllic Aura has Faded in the Pacific Northwest (CSM): “Dot-com collapse in the land that Bill Gates built. The move of Boeing’s headquarters from Seattle to Chicago. The highest unemployment rate in the country. Schools closing weeks early for lack of funds. Even the iconic salmon are dying out. What’s happening here? The short answer is that the national economy - combined with business and tax quirks in Oregon and Washington State - has hammered an area known until recently as uniquely booming and beautiful.”
Dollars Going Around the World (NYT): “According to recent reports from the Multilateral Investment Fund at the Inter-American Development Bank, the amount of money sent last year to Latin America from the United States increased about 18 percent, to more than $32 billion. And despite the tough economic times and new federal restrictions on sending money abroad, experts say they do not expect the volume of these remittances to decrease anytime soon.”
Number Crunchers Vs. Recession (Washington Post): “The arbiter of when U.S. economic recessions begin and end, the Business Cycle Dating Committee of the National Bureau of Economic Research, has laid the groundwork for calling an official end to the slump that began in March 2001. It could be weeks or months before that happens, but the committee has found a way around the fact that its key monthly indicator, payroll employment, has continued to decline long after the economy resumed growing... This week, however, the committee said in a further update that it is still too soon to call the recession over. ”
Posted by Mises.org News
