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Why cost of living is destroying the social compact in the US and Europe and upending governments in 2024-2025
02/24/2025
Used car prices are up 45% since 2019 putting used cars at average price $28000. It is not a discretionary cost, one needs a car to get to work in the US. There are cases of young people not able to pay soaring repair costs quitting work without transport. This is why there was so much discontent in 2024 after supply shocks and price gouging pushed up prices in 2024. Another factor evident in airline ticket pricing was demand and the excess income of the top 20 percent. In housing and apartment rentals supply shortages pushed up prices, demand and excess income of the top 20-30 percent pushed up prices beyond the reach of the rest, higher interest rates made it unaffordable to buy a home for most Americans.
Grouped Articles
Why There Is No Relief Ahead for High Used-Car Prices
WSJ 02/15/2025
The U.S. Economy Depends More Than Ever on Rich People
WSJ 02/24/2025
George Papandreou's leadership during the Greece crisis- 2010-2011
06/15/2010
Papandreou has provided leadership on the issues facing Greece by walking the talk, with straight talk about the action needed, consulting economic experts in America who are in his inner circle, and working with European leaders for solutions. He has kept his profile modest and set a role model for his ministers and public officials.
Grouped Articles
George Papandreou Finds Balm for Greece Deficit
New York Times 06/15/2010
BusinessWeek 06/24/2010
At Impasse, Greek Leader Vows to Reset Cabinet
New York Times 06/15/2011
Greek Leader Faces Key Confidence Vote
Wall Street Journal 06/21/2011
Wall Street Journal 06/21/2011
New York Times 06/21/2011
Andy Grove and the scaling up at home that American companies need to do.
05/29/2010
Andy Grove brushes off talk of sending technologies and jobs much needed at home to China, with the talk he hears of "a China strategy." He doesn't see how an America with high paying jobs and mass of unemployed could work. He says American companies have failed to scale up, the way Intel did in the seventies. For every Apple employee there are 10 employees in China working on Mac's, Iphones, and Ipads. The idea of manufacturing as not important is misguided and he would like to see America rebuild its industrial base.
Grouped Articles
Wall Street Journal 05/29/2010
Wall Street Journal 10/02/2010
Apple Says App Store Sales Rose 50% in 2014
Wall Street Journal 01/09/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
Yuan Revaluation for China's Own Sake
Wall Street Journal 10/02/2010
The performance of socially conscious economies of Europe and the U.S. economy compared.
01/11/2010
Why Europe compares favorably with the US economy in areas like unemployment when looking at the 24-54 working age group, technology adoption, economic growth when you factor out population growth in the USA, and with higher taxes offset by social benefits for large segments of society.
Grouped Articles
New York Times 04/13/2013
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Growth isn’t enough to help the middle class - The Washington Post
Washington Post 02/14/2013
New York Times 01/11/2010
New York Times 02/09/2010
Comparative Advantage and American Jobs
Wall Street Journal 01/26/2011
Fragility of social cohesion in the U.S. with unemployment concentrated in the lower middle and working classes.
03/11/2009
Figures from the Center of Labor Market Studies of Northeastern University in Boston showing unemployment of 9% in the $40,000 to $50,000 annual household income group and going up to 31% at the lowest income group. Higher inequality as differences in education between lower income and higher income Americans grows. The problem of the long term unemployed is a serious one.
Grouped Articles
Wall Street Journal 09/14/2011
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
The Great Stagnation in American Education
New York Times 09/07/2013
Germany's Kurzarbeit plan and other methods of softening the impact of a recession on jobs and wages.
10/28/2006
About 1.5 million employees used the Kurzarbeit short work week schedules according to the German labor agency. In the latest month March 2010, 693,000 workers were on the Kurzarbeit short week schedule.
Grouped Articles
The Price of Saving Jobs in Germany
BusinessWeek 07/29/2010
Germany's economy: Angela in Wunderland
Economist 02/05/2011
Fixing America's Economy: Nine Ideas from Around the World
BusinessWeek 06/08/2011
Wall Street Journal 11/21/2011
The Age of the Superfluous Worker
New York Times 11/24/2011
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
The demographic crisis Japan faces.
11/20/2010
Japan's rapidly ageing population. The lower proportion of the working age population over time relative to the older population.
Grouped Articles
Japan Raises Sales Tax to Tackle Debt
Wall Street Journal 08/12/12
A special report on Japan: Into the unknown
Economist 11/20/10
A special report on Japan: On the down escalator
Economist 11/20/10
A special report on Japan: The dearth of births
Economist 11/20/10
A special report on Japan: Bring on the cultural revolution
Economist 11/20/10
A Debate Arrives With Japan Politician's Baby
Wall Street Journal 01/06/11
Sweden's approach to fathers and male roles.
06/09/2010
Sweden has largely dissolved the male-female divide when it comes to raising children, and cultural acceptance of men doing work that women normally do in the home.
Grouped Articles
In Sweden, Men Can Have It All
New York Times 06/09/10
Wall Street Journal 02/19/11
Washington Post 06/25/12
Solutions to the Greece crisis.
05/27/2010
Would the solution adopted by Turkey in 2001 work? Devaluation of the currency is not an option for Greece. Turkey devalued the lira 54% in 2001.
Grouped Articles
Greece Can Learn IMF Austerity from Turkey
BusinessWeek 05/27/10
Wall Street Journal 10/22/10
European Debt Deal Has Flaws - News Analysis
New York Times 03/14/11
For Greece, the Path to Restructuring Holds Pitfalls
Wall Street Journal 04/18/11
Don't Bet on an Imminent Euro-Zone Debt Default
Wall Street Journal 04/18/11
Expectations Grow for Greek Debt Restructuring
New York Times 04/18/11
Robert Lighthizer and other experts call for trade and globalization practices that work for the U.S.
01/06/2010
The failure of the establishment of both parties in the USA to take action in the face of the loss of 5.6 million jobs in the last decade, with $4.3 trillion in trade imbalances. An issue which resonates with voters in the US and could lead to a fundamental realignent of American attitudes to globalization and free trade. The feeling that the free-trade deck is stacked against the USA by Asian countries. China's efforts to keep the yuan dollar exchange rate at levels that favor exports. China's accumulation of over $3 trillion in dollar reserves that are parked mostly in Treasury's that keep U.S. interests low. Distortons in the global economy from the failure to rebalance the world economy hurts China and the U.S.
Grouped Articles
Wall Street Journal 10/04/11
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/10
New York Times 09/30/10
Wall Street Journal 10/02/10
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/15
What’s Our Duty to the People Globalization Leaves Behind?
New York Times 01/26/16
Unemployment in Germany 2009-2013
01/04/2008
The role of "kurzarbeit" programs, work sharing, the changes from the Hartz reforms, and wage restraint in reducing German unemployment.
Grouped Articles
'Minijobs' Lift Employment But Mask German Weakness
Wall Street Journal 05/29/13
The Next First (and Only) 100 Days
New York Times 12/10/11
German elections pit Merkel, challenger over poverty problems - The Washington Post
Washington Post 09/17/13
German Minimum Wage Plan Gains Backing From Businesses
Wall Street Journal 03/29/14
Germany Regains Jobs Lost in Recession
Wall Street Journal 07/30/10
The Price of Saving Jobs in Germany
BusinessWeek 07/29/10
France's nuclear energy industry.
03/28/2006
The French governmet is working to setup a partnership between Areva and EDF.
Grouped Articles
Areva's High-End Bet on Nuclear Power
BusinessWeek 03/04/10
EDF to Build New Nuclear Power Plant in U.K.
Wall Street Journal 10/21/13
EDF to Build New Nuclear Power Plant in U.K.
Wall Street Journal 10/22/13
Wall Street Journal 10/22/13
Deal to Build a British Nuclear Plant Assumes a Role for Government
New York Times 10/21/13
French Nuclear Giant Areva Says Future Is Uncertain, Prompting a Sell-Off
New York Times 11/19/14
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