9/11
Take some time today to remember who was lost six years ago. Clear out all the political stuff.
Take some time today to remember who was lost six years ago. Clear out all the political stuff.
Is his middle name “Johnny Drama?”WaMu dropped 3% after CEO Kerry Killinger said at a Lehman Brothers
conference in New York that the housing industry is headed for a “near
perfect storm.”
The economic and social costs of recession are painful: unemployment,
lower wages and profits, and bankruptcy. These cannot be dismissed
lightly. But there are also some purported benefits. Some economists
believe that recessions are a necessary feature of economic growth.
Joseph Schumpeter argued that recessions are a process of creative
destruction in which inefficient firms are weeded out. Only by allowing
the “winds of creative destruction” to blow freely could capital be
released from dying firms to new industries. Some evidence from
cross-country studies suggests that economies with higher output
volatility tend to have slightly faster productivity growth. Japan’s
zero interest rates allowed “zombie” companies to survive in the 1990s.
This depressed Japan’s productivity growth, and the excess capacity
undercut the profits of other firms.
“Does America need a recession?” in The Economist
Who’s got some scoops on how to best “get in the game?”
I’m going to take my advice and “just do it…” but any tips?
Did you know that George Lazenby gave up a seven-picture deal after filming On Her Majesty’s Secret Service?