Group items tagged

The manufacturing boom that Donald Trump ignores

"Made in the U.S.A." is not dead. The nation's manufacturing sector is actually booming, even if many people don't realize it.

"We produce more today than we ever have," said Chad Moutray, chief economist with the National Association of Manufacturers. "We made $2.1 trillion worth of products in 2015. There are sectors doing really well."

var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-121540-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Russell Brand on revolution: “We no longer have the luxury of tradition” window.onerror=function(){ return true; } var googletag = googletag || {}; googletag.cmd = googletag.cmd || []; (function() { var gads = document.createElement('script'); gads.async = true; gads.type = 'text/javascript'; var useSSL = 'https:' == document.location.protocol; gads.src = (useSSL ? 'https:' : 'http:') + '//www.googletagservices.com/tag/js/gpt.js'; var node = document.getElementsByTagName('script')[0]; node.parentNode.insertBefore(gads, node); } )(); googletag.cmd.push(function() { googletag.defineSlot('/5269235/Test_NS_Minister_widesky', [160, 600], 'div-gpt-ad-1357235299034-0').addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.enableServices(); } ); var loc = document.URL; var n=loc.split("/",4); var str= n[3]; googletag.cmd.push(function() { googletag.defineSlot('/5269235/NS_Home_Exp_5', [[4, 4], [975, 250]], 'div-gpt-ad-1366822588103-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NS_Vodafone_Politics_MPU', [300, 250], 'div-gpt-ad-1359018650733-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/Vodafone_Widesky', [160, 600], 'div-gpt-ad-1359372266606-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/Vodafone_NS_Pol_MPU2', [300, 250], 'div-gpt-ad-1359374444737-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NS_Vodafone_Politics_Leader', [728, 90], 'div-gpt-ad-1359018522590-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NewStatesman_Bottom_Leader', [728, 90], 'div-gpt-ad-1320926772906-0').addService(googletag.pubads()); googletag.pubads().setTargeting("Section", str);googletag.pubads().setTargeting("Keywords","property news","uk house prices","property development","property ladder","housing market","property market","london property market","uk property market","housing bubble","property market analysis","housing uk","housing market uk","growth charts uk","housing market predictions","property market uk","housing ladder","house market news","housing boom","property boom","uk property market news","housing market trends","the uk housing market","london property boom","property market in uk","news on housing market","the housing market in the uk","uk property boom","housing market in the uk","how is the housing market","property market in the uk","housing market trend","the uk property market","how is housing market","help to buy news","help to buy government","housing uk help to buy","housing market help to buy","property news help to buy","spectator blog help to buy","property boom help to buy","uk property boom help to buy","housing ladde

The right has all the advantages, just as the devil has all the best tunes. Conservatism appeals to our selfishness and fear, our desire and self-interest; they neatly nurture and then harvest the inherent and incubating individualism. I imagine that neurologically the pathway travelled by a fearful or selfish impulse is more expedient and well travelled than the route of the altruistic pang. In simple terms of circuitry I suspect it is easier to connect these selfish inclinations.

This natural, neurological tendency has been overstimulated and acculturated. Materialism and individualism do in moderation make sense.

Despite the $300bn mega-bankruptcy of Evergrande, the risk of an immediate 2008-style crisis in China is slight.

let us linger over the significance of this point. What China is doing is, after all, staggering. By means of its “three red lines” credit policy, it is stopping in its tracks a gigantic real estate boom. China’s real estate sector, created from scratch since the reforms of 1998, is currently valued at $55tn. That is the most rapid accumulation of wealth in history. It is the financial reflection of the surge in China’s urban population by more than 480mn in a matter of decades.

Throughout the history of modern capitalism real estate booms have been associated with credit creation and, as the work of Òscar Jordà, Moritz Schularick and Alan M. Taylor has shown, with major financial crises.

In April 1998, President Bill Clinton read a Richard Preston novel, "The Cobra Event," about a biological attack on the U.S. using a lethal virus that spreads like the common cold.

the result was the first federal government effort to marshal resources in preparation for a pandemic, including the creation of the National Emergency Medical Stockpile, which stowed vaccines and medical gear in secret locations around the country. Bernard was appointed as the first official on the National Security Council whose sole job was to focus on health threats.

Instead, it kicked off a boom-and-bust cycle of pandemic preparedness that persisted into the Trump administration. By many accounts, Trump fell on the bust side of the equation when he fired his top biosecurity adviser, allowed the disbanding of his global health unit, and initially downplayed the coronavirus as it spread across the world.

what we’ve been calling A.I. — or what more careful people call “generative A.I.” — isn’t really intelligence. What it is instead is extrapolation from pattern recognition. Or as some people I talk to put it, it’s basically souped-up autocorrect.

a lot of what human workers, even workers considered highly skilled, do for a living is also arguably souped-up autocorrect. How many workers regularly engage in creative thinking? Even among creative workers, how much time is spent being creative as opposed to engaging in pattern recognition?

what we’re calling A.I. could be a big deal for the economy even if it doesn’t lead to the creation of HAL 9000 or SkyNet.

Since 1999, The Grove restaurant, with its warm, woodsy interior and comfort food, has marketed itself as “San Francisco’s living room.”

the landlords raised the annual rent to $246,816, or roughly $20,000 a month, for the 1,500 square foot ground floor space. That is 50 percent higher than what The Grove’s owners paid five years ago. They said the only way they could possibly keep pace would be to drastically raise prices.

Regulars complain that The Grove’s planned closure is just the latest confirmation that the tech boom is making San Francisco unlivable, and pricing long-time businesses and residents out of the market. As start-ups and established tech companies like Google, Facebook and Square poach one another’s engineers with high salaries, rents are, on average, up almost 8 percent from a year ago, to $2,768 for an apartment in a large complex,

For decades, corruption was accepted in Southern Europe as a fact of life, a way to distribute the spoils, and few people — including, in many cases, prosecutors — gave it a second thought. But the grinding economic crisis, which stalled projects and ended the flow of cash, has helped lift the veil on corrupt officials, exposing graft, bribery, payoffs, secret favors and other misdeeds on a scale that few imagined.

Corruption did not cause the euro zone crisis. But the economic problems will persist, regional experts say, until these countries remake themselves into modern societies with efficient, competitive economies.

“The political class has no respect in Southern Europe. The public institutions need to be rebuilt, step by step, so the government can be a credible actor.”

conservative orthodoxy has a curiously inconsistent view of the abilities and motivations of corporations and wealthy individuals — I mean, job creators.

On one side, this elite is presumed to be a bunch of economic superheroes, able to deliver universal prosperity by summoning the magic of the marketplace. On the other side, they’re depicted as incredibly sensitive flowers who wilt in the face of adversity — raise their taxes a bit, subject them to a few regulations, or for that matter hurt their feelings in a speech or two, and they’ll stop creating jobs and go sulk in their tents, or more likely their mansions.

It’s a doctrine that doesn’t make much sense, but it conveys a clear message that, whaddya know, turns out to be very convenient for the elite: namely, that injustice is a law of nature, that we’d better not do anything to make our society less unequal or protect ordinary families from financial risks. Because if we do, the usual suspects insist, we’ll be severely punished by the invisible hand, which will collapse the economy.

Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market.

The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition. That would force many families to turn to private lenders to cover portions of their bills. While that could mean lower interest rates for some, it could constrain funding to households with blemished credit histories.

At stake is potentially billions of dollars in new business for private lenders, a group currently dominated by SLM Corp. , better known as Sallie Mae, Wells Fargo & Co., and Discover Financial Services .

The era of supersonic commercial flights came to an end when the Concorde completed its last trip between New York and London in 2003, but the allure of ultrafast air

travel never quite died out.

Boom, which has raised $270 million from venture capital firms and other investors, said it planned to introduce aircraft in 2025 and start flight tests in 2026. It expects the plane, which it calls the Overture, to carry passengers before the end of the decade.

Vistra Corp. owns 36 natural-gas power plants, one of America’s largest fleets. It doesn’t plan to buy or build any more. Instead, Vistra intends to invest more than $1 billion in solar farms and battery storage units in Texas and California as it tries to transform its business to survive in an electricity industry being reshaped by new technology.

A decade ago, natural gas displaced coal as America’s top electric-power source, as fracking unlocked cheap quantities of the fuel. Now, in quick succession, natural gas finds itself threatened with the same kind of disruption, only this time from cost-effective batteries charged with wind and solar energy.

Natural-gas-fired electricity represented 38% of U.S. generation in 2019

China’s boom was underpinned by unusually high levels of domestic investment in infrastructure and other hard assets, which accounted for about 44% of GDP each year on average between 2008 and 2021. That compared with a global average of 25% and around 20% in the U.S., according to World Bank data.

Such heavy spending was made possible in part by a system of “financial repression” in which state banks set deposit rates low, which meant they could raise funds inexpensively and fund building projects. China added tens of thousands of miles of highways, hundreds of airports, and the world’s largest network of high-speed trains.

About one-fifth of apartments in urban China, or at least 130 million units, were estimated to be unoccupied in 2018,

The U.S. presidential candidates have made the usual pile of promises, none more predictable than their pledge to make the U.S. economy grow faster. With the economy struggling to expand at 2% a year, they would have us believe that 3%, 4% or even 5% growth is within reach.

But of all the promises uttered by Donald Trump and Hillary Clinton over the course of this disheartening campaign, none will be tougher to keep. Whoever sits in the Oval Office next year will swiftly find that faster productivity growth—the key to faster economic growth—isn’t something a president can decree.

It might be wiser to accept the truth: The U.S. economy isn’t behaving badly. It is just being ordinary.

he is best known as a leading proponent of Traditionalism, a worldview popular in far-right and alternative religious circles that believes progress and equality are poisonous illusions.

Evola became a darling of Italian Fascists, and Italy’s post-Fascist terrorists of the 1960s and 1970s looked to him as a spiritual and intellectual godfather.

They called themselves Children of the Sun after Evola’s vision of a bourgeoisie-smashing new order that he called the Solar Civilization. Today, the Greek neo-Nazi party Golden Dawn includes his works on its suggested reading list, and the leader of Jobbik, the Hungarian nationalist party, admires Evola and wrote an introduction to his works.

The crisis in Crimea is heralding the rise of a new era of American energy diplomacy, as the Obama administration tries to deploy the vast new supply of natural gas in the United States as a weapon to undercut the influence of the Russian president, Vladimir V. Putin, over Ukraine and Europe.

The crisis has escalated a State Department initiative to use a new boom in American natural gas supplies as a lever against Russia, which supplies 60 percent of Ukraine’s natural gas and has a history of cutting off the supply during conflicts.

The administration’s strategy is to move aggressively to deploy the advantages of its new resources to undercut Russian natural gas sales to Ukraine and Europe, weakening such moves by Mr. Putin in future years. Although Russia is still the world’s biggest exporter of natural gas, the United States recently surpassed it to become the world’s largest natural gas producer, largely because of breakthroughs in hydraulic fracturing technology, known as fracking.

They are overwhelmingly white, rich, older and male, in a nation that is being remade by the young, by women, and by black and brown voters. Across a sprawling country, they reside in an archipelago of wealth, exclusive neighborhoods dotting a handful of cities and towns. And in an economy that has minted billionaires in a dizzying array of industries, most made their fortunes in just two: finance and energy.

Now they are deploying their vast wealth in the political arena, providing almost half of all the seed money raised to support Democratic and Republican presidential candidates. Just 158 families, along with companies they own or control, contributed $176 million in the first phase of the campaign

Not since before Watergate have so few people and businesses provided so much early money in a campaign, most of it through channels legalized by the Supreme Court’s Citizens United decision five years ago.

Mr. Wallerstein, who can’t afford to pay down interest and thus watches the outstanding loan balance grow, is in roughly the same financial hell as people who bought more home than they could afford during the real estate boom. But creditors can’t foreclose on him because he didn’t spend the money on a house. He spent it on a law degree. And from every angle, this now looks like a catastrophic investment.

Mr. Wallerstein, who can’t afford to pay down interest and thus watches the outstanding loan balance grow, is in roughly the same financial hell as people who bought more home than they could afford during the real estate boom. But creditors can’t foreclose on him because he didn’t spend the money on a house. He spent it on a law degree. And from every angle, this now looks like a catastrophic investment.

Number-fudging games are endemic, professors and deans say, because the fortunes of law schools rise and fall on rankings, with reputations and huge sums of money hanging in the balance. You may think of law schools as training grounds for new lawyers, but that is just part of it. They are also cash cows.

A growing number of scholars believe that the ecological transformation set off by Columbus's voyages was one of the establishing events of the modern world. Why did Europe rise to predominance? Why did China, once the richest, most advanced society on earth, fall to its knees? Why did chattel slavery take hold in the Americas? Why was it the United Kingdom that launched the Industrial Revolution? All of these questions are tied in crucial ways to the Columbian Exchange.

the common nightcrawler and the red marsh worm, creatures that did not exist in North America before 1492.

Intoxicating and addictive, tobacco became the subject of the first truly global commodity craze.