Items of Interest:
Floyd Norris / New York Times:
U.S. Jobless Rate May Soon Top Europe's -- For many years, unemployment in the United States was lower than in Western Europe, a fact often cited by people who argued that the flexibility inherent in the American system — it is easier to both hire and fire workers than in many European countries — produced more jobs.
That is no longer the case. Unemployment in the United States has risen to European averages, and seems likely to pass them when international data for April is calculated...
John Quiggin / Crooked Timber: Refuted economic doctrines #8: the superiority of flexible labor markets
Recession Turns Malls Into Ghost Towns -- Malls, those ubiquitous shopping meccas that sprang up in the 1950s, are dwindling in number, with many struggling properties reduced to largely vacant shells.
On the low-income east side of Charlotte, N.C., the 1.1-million-square-foot Eastland Mall recently lost a slew of key tenants, including a Dillard's and, next month, a Sears. Sales per square foot at the venue fell to $210 in 2008 from $288 in 2001...
Flickr.com: dead malls
Labelscar [retail history blog]
After storybook boom, Bend faces a tough chapter -- Once upon a time not so long ago, developers seeking magic money poured $4 million into a "Lord of the Rings" subdivision here complete with hobbit holes and thatch-roof houses.
This month Umpqua Bank, which foreclosed on The Shire, unloaded the moribund development for just $750,000.
It's hardly the storybook ending J.R.R. Tolkien might have written for a project that symbolized the extremes of Bend's legendary boom. But central Oregon has become the Middle Earth of unemployment -- at 17 percent...
Blue Double Cross -- That didn’t take long. Less than two weeks have passed since much of the medical-industrial complex made a big show of working with President Obama on health care reform — and the double-crossing is already well under way. Indeed, it’s now clear that even as they met with the president, pretending to be cooperative, insurers were gearing up to play the same destructive role they did the last time health reform was on the agenda...
discussion:Latest Open Salon Blog: PiS 23: HMO Consolidation Is Moving Toward MonopolyJohn Aravosis / AMERICAblog News: Blue Double CrossCup O' Joe: Dear Paul KrugmanMark Thoma / Economist's View: Paul Krugman: Blue Double Cross
- Goldman Ruled the Finance Jungle for a Reason - Robert Lenzner, Forbes
- As The Dust Settles, Which Banks Are Truly The Best - The Economist
- TARP Payback Poker Starts in Washington - David Callaway, MarketWatch
- MBA: Masters of Business Apocalypse? - Francesca Di Meglio, BusinessWeek
- The Crisis & How To Deal with It - Krugman/Roubini/Soros etc., NYR of Books
- Relax. The U.S. Isn't a Deadbeat - Paul La Monica, CNN Money
- Hedge Funds 2.0: Smaller, Wiser & Thriftier - Katie Benner, Fortune
- Why Jeremy Grantham Changed his Mind - Pearlman & Dahl, SmartMoney
- Washington Must Bail Out California - Joe Mathews, New York Times
- Banks must pay to bolster FDIC insurance -- Mortgage Insider
- Why a Bankrupt GM Would Be a Disaster - William Holstein, Business Week
- Light Cars Are Dangerous Cars - Robert Grady, Wall Street Journal
- Climate Change Bill Botches Refrain - Steven Pearlstein, Washington Post
- Cliff Asness: The Protest of a Patriot - Peter Robinson, Forbes
- Why the PPIP Has Bankers Squirming - Gillian Tett, Financial Times
- Change Accounting Rules, Change Inch Too - Christopher Hayes, Nation
- The Lack of COLA Outrage Is Ignorance - Andrew Biggs, Los Angeles Times
- Shame Is a Powerful Ethics Tool - Thomas Kostigen, MarketWatch
- Who Controls the Internet? Thankfully Us - Ariel Rabkin, Weekly Standard
- Do Financial Crises Make Us Conservative? - John Judis, The New Republic
- Inflation 'Cure' Exposed When In-Laws Arrive - Caroline Baum, Bloomberg
- Why Europe's Crisis Is Worse Than Ours - Richard Rahn, Washington Times
- A Risky Move to Empower Investors - Floyd Norris, New York Times
- U.S. Ambassadorships Go To Highest Bidders - Benjamin Sarlin, Daily Beast
- Gillian Tett Explains How Greed Destroyed Wall Street - The Big Money
- The Financial Predictions of Peter Schiff - Justin Fox, TIME
- Dealing with Uncertainty in Your Career - Ben Bernanke, Clusterstock
- Collapse in S&P Earnings Means We Haven't Seen Bottom - Mish Shedlock
- A Walk Through the World's Major Stock Markets - Trader's Narrative
- Some Perspectives on Sovereign Downgrades - FT Alphaville