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Trump Can Fix The Economy By Embracing Biotech
The presidential campaign made one fact very clear. Most of the media and public aren't focused on economic growth. Growth powers and funds everything else. Just take a look at the enormous federal deficit and you’ll see that economic health keeps taking a back seat to short-term goals. Yes, John Maynard Keynes made a case for using debt to stimulate the economy. But he never said anything about permanent deficits. And that is our current practice. The result is that taxpayers’ options will be curtailed in the future. Forbes
Submitted 45 minutes ago

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Why Does US Lose More Manufacturing Jobs Than Germany?
Scarcely anyone predicted a Donald Trump win. And analysts forecast that if by some miracle he did win, financial markets would tank, given his erratic presidential campaign. On Tuesday evening November 8, as the unthinkable began to happen and a Trump win appeared imminent, the analysts’ forecast started materializing. The Dow Jones index of U.S. stocks crashed by some 800 points, the dollar dropped and money poured into low-risk bonds. Forbes
Submitted 2 hours ago

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Want to Bring Back Jobs, Mr. President-Elect? Call Elon Musk
Donald Trump: Please think about calling Elon Musk. President-elect Trump has spent a lot of time talking about how he plans to reinvigorate the manufacturing sector, repeatedly telling the public on the campaign trail, “We are going to bring back jobs that have been stolen from you.” And yet the group of business luminaries he named on Friday to advise him on “job creation” — which included Jamie Dimon of JPMorgan Chase, Robert Iger of Disney and Mary Barra of General Motors — was missing a key name: Mr. Musk, the real-life Tony Stark behind Tesla, the electric car company; SolarCity, the solar power provider; and SpaceX, the rocket company. New York Times
Submitted 4 hours ago

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'Everybody loses': What an economic war between US and China would look like
Donald Trump's Twitter-fueled provocations of China are underscoring just how much the world's two biggest economies have to lose if tensions were to escalate. Trump risked angering China on Friday by taking a call from Taiwan's President Tsai Ing-wen — a first for a U.S. president or president-elect with any Taiwan leader since 1979. For decades, the United States has not recognized Taiwan as a separate state from mainland China. CNBC
Submitted yesterday

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Confusion about job creation is obscuring America's productivity crisis
There is perhaps no other topic in economics that is more prone to illogical thinking than job creation. It is a wellspring of hysterical nonsense. Let’s start with the canard that technology and automation kill jobs. Notwithstanding the fact that US productivity growth rates are at an all-time low, a growing chorus blames technology for killing our jobs. Writing in The New Yorker, NYU professor Gary Marcus alleges that, “as machines continue to get smarter, cheaper, and more effective, our options dwindle.” So don’t bother polishing up that resume; here’s a link to the unemployment office. Christian Science Monitor
Submitted yesterday

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Home Depot Co-Founder: Need to Create Jobs in America
Home Depot (HD) Co-Founder Bernie Marcus thinks one of the most important issues the next presidential administration should focus on is the state of the American worker. “Trump was voted in for one reason only. And that’s because Democrats forgot that working America is suffering. That these people out there who are working for jobs have had less money in their payroll for the last eight years. Their expenses have gone up with Obamacare and everything else…and I think that we need to create jobs in America,” he told FOX Business Network’s Neil Cavuto. Fox News
Submitted yesterday

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Why Trump’s Carrier Deal Isn’t The Way To Save U.S. Jobs
The U.S. gained 178,000 jobs in November. But the only ones anyone seemed to be talking about last week were the roughly 1,000 jobs in Indiana that are no longer moving to Mexico. In terms of direct economic impact, Donald Trump’s deal with Carrier, a manufacturer of air conditioners and furnaces, was clearly a sideshow. But it was symbolically important, representing a campaign promise kept — or at least partly kept, since Carrier still plans to outsource hundreds of other jobs to Mexico — before Trump even takes office. More importantly, the deal may provide some hints about how Trump plans to approach economic policy as president. Last week’s announcement suggests that Trump will approach governing much as he approached business — as a dealmaker. That’s good for grabbing headlines, but it won’t do much to address the underlying forces that are eroding blue-collar jobs. Fivethirtyeight.com
Submitted yesterday

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What Trump and Pence don't get about clean energy jobs
President-elect Trump's victory tour began in Indiana this week, where he and running mate Mike Pence announced they had cobbled together enough taxpayer cash to convince Carrier – a gas furnace manufacturer that planned to move 2,000 jobs to Mexico – to keep some of its jobs in the state. But just two years ago, Governor Pence allowed Indiana to become the first state to abandon its energy efficiency standards – a move that Carrier and other companies warned would threaten nearly 1,500 jobs and $500 million a year in local economic investment. Evidently, losing 1,500 jobs wasn't enough to worry about. Yet two years and a presidential election later, saving 1,000 on the backs of taxpayers is held up as proof that Trump is making good on his promise to reinvigorate the American economy. Forbes
Submitted yesterday

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Rolling back environmental progress?
Donald Trump plans to “roll back progress” on climate change, energy and the environment, activists, regulators and their media allies assert. The claim depends on one’s definition of “progress.” These interest groups define “progress” as ever-expanding laws, regulations, bureaucracies and power, to bring air and water emissions of every description down to zero, to prevent diseases that they attribute to manmade pollutants and forestall “dangerous manmade climate change.” Achieving those goals requires controlling nearly every facet of our economy, industries, lives, livelihoods and living standards. If we are talking about halting and reversing this unbridled federal control, President-Elect Trump has promised to roll “progress” back – and not a moment too soon, if we are to rejuvenate our economy. Federal land, resource and environmental agencies have unleashed tsunamis of regulations in recent years, and President Obama is poised to issue many more before January 20. The total cost of complying with federal rules was about $1 trillion annually in 2006. It has since doubled, raising the federal reporting and compliance burden to $6,000 per person per year, through late-2016. Enterstageright.com
Submitted yesterday

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What the frack? A look at fracking economics and why we should care
You’ve probably heard of fracking before. For those of you who have not heard of it, let me provide a brief overview. Fracking is another name for hydraulic fracturing, which is a drilling technique used to extract oil or natural gas from deep underground. Right now, fracking is a hotly debated topic both environmentally and politically. Some people say it’s fine, safe and economically sustainable. Others disagree, claiming it leads to contaminated drinking water, air pollution and heightened conditions for global warming. Dear readers, it is high time we stop caring as deeply about our wallets as we do about our planet. I am not going to try to argue money isn’t important. I am a firm believer that a strong economy is vital to a country’s success, and economic sustainability should be considered when discovering the best method to obtain resources. However, I do not believe economic sustainability should be the most important factor in the decision. Fracking has been described as a safe and clean way to obtain power sources. This sounds fine, but we can speak in generic terms all we want without actually citing real effects. If we take a look at the facts, we see that “safe” and “clean” are just about the last words that would accurately describe the effects of fracking. Alligator.org
Submitted yesterday

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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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