Top Ten Economies, Real Gross Domestic Product (GDP) Real GDP Manufacturing Manufacturing Trillions $ Percent Trillions $ United States 20.94 11 2.30 China 14.72 27 3.97 Japan 5.05 20 1.01 Germany 3.84 18 0.64 United Kingdom 2.08 9 0.19 India 2.66 14 0.37 France 2.63 9 … Continue reading
Category Archives: Economy
Historical Record
Breton Woods Roots In 1944, with the approaching defeat of Germany all but certain, representatives of forty-four nations met in Bretton Woods, New Hampshire to create a new international monetary system. This Bretton Woods System, which became fully operational in 1958, was essentially a mechanism to settle international accounts in … Continue reading
Homes Too Expensive
They say all real estate is local, but the West has more recently been an indicator of what is to come for the rest of the nation. It was the first region to crash in the mid-2000’s and the first to show signs of recovery toward the end of the … Continue reading
Inside Countrywide
WorkingRE Magazine Interview: Appraiser Who Brought Down Countrywide By Isaac Peck, Associate Editor The U.S. housing bubble and the corresponding real estate market crash of 2007-2008 brought about one of the most severe economic downturns in America since the Great Depression. The fallout was extensive: banks failed, established companies declared … Continue reading
Climate Change and Nuclear War Revisited
April 29, 2021 Background On April 19, 2021, at a press conference about climate change, the Secretary-General of the United Nations, António Guterres said that “we are on the verge of the abyss.” The evidence supporting his conclusion is overwhelming. Increasingly severe storms, droughts, wild fires, rising seas, and mass … Continue reading
The U.S. and China at Crossroads
When it comes to Sino-American relations, few westerners have the knowledge, understanding and experience of former Secretary of State Dr. Henry Kissinger. Speaking at the National Committee on U.S. China Relations Gala Dinner on November 14, 2019, he explained: • The (U.S.) relationship with China started because both felt threatened … Continue reading
Thucydides & Tariffs
June 26, 2018 President Trump has decided to levy tariffs primarily on Chinese, European, Mexican, Canadian, Indian and Turkish products, and in so doing, he has alienated them all. Presumably, following the same logic –that the trade deficit is unsustainable- at some point he’ll have to do the same with … Continue reading
Not By Accident
April 4, 2018 Costa Rica, a beacon of democracy with just over five million people, is known for its natural beauty, biodiversity, warm oceans, green energy, and surprisingly good football (soccer) players. Now it leads the world in GDP/hour worked, and it’s not a fluke. What makes this tiny country … Continue reading