Explaining Southern California's economy

Reportings: Euro-crisis; housing bust; Gig Economy; recession generations

Greek default, French banks, and…Newport Beach? PIMCO's Mohamed El-Erian is more than a little concerned: “The light should be flashing yellow, if not red, in Washington, D.C., and hopefully the IMF meeting can be the catalyst for getting to a common analysis and setting the stage for the G-20,” El-Erian said from Pimco’s Newport Beach, California-based headquarters. (Booomberg)

 

The Federal Reserve of Dallas wonders why the housing boom boomed so big in the 2000s: "The most recent house price and construction run-up exceeded levels recorded during the 1990s economic expansion, when unemployment rates fell even lower and income grew faster. Why is this? Standard econometric models accounting for these factors simply cannot explain the surging house prices and building seen in the mid-2000s." (Dallas Fed)

 

Das Koffeeshop: Sara Horowitz continues writing about the "Gig Economy" at the Atlantic: "[W]e find ourselves in the middle of a…large transition: just as workers left the plow for the assembly line, they are now leaving the cubicle for the coffee shop." (The Atlantic)

 

Who got in worse in the Great Recession? Gen Y, Gen X, or the Boomers? (The Atlantic)

 

Photo: Wikimedia Commons

 

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