As a stead-fast believer in an alarmist, paranoid mentality, the record US trade deficit should send me (and you) into all-time high worrying about immigrants, cheap electronics, and other such things that ‘took our jobs’. But as an economist, it doesn’t matter (or does it) because the US is moving from the industrial/good production sector to the financial/services sector. Confuse you? Too bad.
In other news, Russia is still doing a good job of messing up it’s former Soviet Union states. Not that this is to be surprised — most of these countries are somewhat third/second world and little comprehension of democratic processes. It is not to be forgotten that the Soviet Union only collapsed 14 years ago too.
And the ‘what world do we live in now’ news articles of the day, Bob Dylan will host an XM radio program. No, this is not a joke, and yes, the words ‘sell out’ should be forming in your lips. Second, check out this article about kids using powerpoint to sway parents on gifts. This would require the usual jab about consumerism and the state of American affairs… but at this point, I can’t even be forced to care.