links for 2010-07-12

How to Make an American Job Before It's Too Late: Andy Grove – Bloomberg Clearly, the great Silicon Valley innovation machine hasn’t been creating many jobs of late — unless you are counting Asia, where American technology companies have been adding jobs like mad for years. The underlying problem isn’t simply lower Asian costs. It’s … Read more

Euro Weakness Boosts European Economies

I have often wondered whether Germany’s initial reticence to help the Eurozone solve its debt problems was “engineered”, in part, to devalue the euro from its suffocating highs in 2009. We will likely never know for sure, but the euro’s remarkable slide in 2010 has apparently generated impressive economic results, especially in Germany. There is … Read more

No Deflation Fears in Australia

“Commodity prices are off their peaks but those most important for Australia remain at very high levels, and the terms of trade are approaching their peak of two years ago.” – Royal Bank of Australia, “Statement by Glenn Stevens, Governor: Monetary Policy Decision” (July 6, 2010) From Australia’s perspective, the global economy continues to bring … Read more