Explaining Southern California's economy

Reportings: Big September for cars; boring iPhone; Solyndragate II; Michael Lewis

Are bailed-out and formerly bankrupt U.S. car companies now recession-proof? Both General Motors and Chrysler had a big September: "General Motors Co. said its U.S. sales jumped 20% to 207,145 vehicles compared with September 2010. Chrysler Group's sales surged 27% to 127,334 vehicles, marking the company's best September since 2007." (LAT)

Is the Apple iPhone too grown up to have a wow factor? "'Industrial design is important, but in these small packages we are starting to bump into the laws of physics,' said Tim Bajarin, a consultant with Creative Strategies Inc. 'You aren't going to do anything that I would consider radical in design and still get this feature set and function.'" (WSJ) 

Paul Krugman gets on China's case and highlights the massive U.S. trade deficit: "A return to economic health would look much more achievable if we weren’t spending $500 billion more each year on imported goods and services than foreigners spent on our exports." (NYT)  

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