Tuesday, June 16, 2009

Street Economics 2Q 2009

It's Revenge of the Parents Time for young people who assume they can move back in after graduation. Articles offering mom and dad advice on how to get rid of the kid are popping up all over the place.

Not so long ago I sneered at the extended adolescence of young people who assumed it was socially OK to live with the parents well into their 20s. Now, instead of emailing get-rid-of-the-kids stories to friends, I'm taking a more understanding tack.

After all, unemployment nationwide is at 9.4 percent and there are many states and regions with official jobless rates well into double figures. Also, multiple reports say a scant 20 percent of this year's grads have jobs lined up. Experienced workers are duking it out with them for entry level jobs. Even MBAs are taking hits in salaries and status.

So, at least until Q3, I will forgo eye-rolling when a young person ruefully admits to cohabitating with Mum or Da because it might not be their fault.

Besides, a bit of sympathy might get me a free drink.

Wednesday, June 03, 2009

California v New York - The Last Word

“The quintessential thing about New York that makes it different than Silicon Valley is that people here are much more focused on the idea than the technology that is the plumbing for the idea.”

-- Media mogul Stephen Brill in The Wall Street Jounal

Translation: “New York talks a big game, but California delivers.”

Monday, June 01, 2009

I've Got A Few Questions For You, Cheney

WASHINGTON - Former Vice President Dick Cheney reiterated his praise for waterboarding Al Qaeda terrorists on Monday, calling it a "well done" technique that gathered valuable information from unusually bad guys.