Explaining Southern California's economy

It's Black Friday versus the eurozone crisis

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Black Friday at Macy's in Manhattan: Shoppers lined up.

Welcome back! I hope everyone had a happy Thanksgiving. In fact, it appears as though many of you did enjoy the holiday — enough to hit the malls in force on Black Friday. According to the LA Times, retail activity was up 16 percent over last year. And the markets are responding: all the major stock indexes have climbed this morning. 

Meanwhile, the neverending eurozone crisis appears to have entered a new phase. We keep waiting for an endgame here, with the likely demise of the euro single currency. But then Germany and France get together to pull the eurozone back from the brink. This dynamic has caused predictable volatility in world markets for months now. But in the U.S., there's at least some improving news, giving markets the chance to rally on their own and somewhat ignore Europe.

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Tweet of the Day: BlackBerry meltdown

The mighty Arianna summarized what, a little closer to our neck of the woods, The Wrap packaged as "Hollywood Exhales: BlackBerry Service Is Back." What happened is that, after seeing its business start to slip through its fingers over the past year, BlackBerry maker Research In Motion encountered a nightmare scenario: its supposedly secure, supposedly bulletproof network has spent three days failing.

Globally.

It began in Europe and the Middle East but was looking like it wouldn't make it to U.S. or Canada. Today, however, we got hit on this side of the pond. The outage was brief, but the outrage was audible. For one thing, we learned that Arianna travels with three BlackBerrys. She didn't say which one she was tweeting from. Although for all we know, she could have a six iPhones and two iPads tucked in her Vuitton carryon. Maybe even a Vertu.

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