Writer, Agilist, Elder Geek
Record unemployment for youth in America – as in worse in 60 years. Oddly (or impressively) many are positive, which may actually help them weather this. However unless there are some changes, the impact of the economic stupidity of the last decade is going to last a generation.
Politically, and by "politicially" I mean "usually talked about by people with no clue," entitlements are often controversial and usually associated with urban areas. The reality is quite different.
Even if you're not the economic type, at least skim this article on how Wall Street is adjusting to new regulations and new realities. It's an interesting overview of what's going on, and codifies a few trends I've been wondering about (roughly, I think Wall Street really is in a kind of existential crisis and people don't fully get the impact of new regulation).
My favorite money quote:
“If you’re a smart Ph.D. from MIT, you’d never go to Wall Street now,” says a hedge-fund executive. “You’d go to Silicon Valley. There’s at least a prospect for a huge gain. You’d have the potential to be the next Mark Zuckerberg. It looks like he has a lot more fun.”
Awesome. Come on over guys, I know a great few restauraunts to take you to while you go and make a real, productive business. Also, I could use another roommate.
Oh what a lot of juicy economic news we have.
The latest NFP report on employment is surprisingly good.
A NY Lawsuit over MERS could get very complicated and may push some of the banking issues into/back into public conciousness. Read the whole thing. I'm still waiting for MERS issues to explode, and despite conflicting policies on the state and federal level, something's going to give.
Layoffs may be coming at Microsoft. Rumor stage, but worth watching (and a thought – if it is coming this is a good time to do it and hope for not too much press). Do I see it as a real deal? I can't say either way, but the area of layoffs make sense.
MUST READ: A look at unemployment that answers the big questions people have. Just go take a look and analyze (for instance, education affects your chance to be unemployed, but not the duration).