William J. Holstein's blog

Much attention is being paid to the visit of the next Chinese leader, Xi Jinping, and the usual American leaders are making the usual American demands for the Chinese to raise the value of their currency (which they've been doing), to treat Western multinationals better, to allow more political pluralism, to treat the Tibetans better, and as Vice President Biden said, play by the rules of the international game.

http://chiefexecutive.net/secrets-of-mini-multinationals

For more than a decade now, we've heard that the vast majority of economic growth in the world will occur in emerging markets and that the United States will remain locked in slow growth. That has shaped billions of dollars worth of investment decisions by U.S. companies and financial firms, probably tens of billions of dollars. And it has fueled the notion that America is locked in some sort of perpetual decline.

Both The New York Times and Wall Street Journal mention the phrase "industrial policy" today but neither of them attempted to come to terms with what it really means.

This gentleman in the Kansas City area, Thomas Strouod, has just started reading my book and immediately agreed with my analysis that economists don't understand what is happening in the economy. I particularly like his final line--let's declare that all unemployed workers are economists. Then, surely, they would get paid. Here's what he said: