whatdougsees:

A very interesting analysis by Galina Hale and Bart Hobijn of the San Francisco Fed concludes that very little of American personal consumption spending actually ends up in China. When Americans go buy stuff, they’re overwhelmingly buying things that are made in America.

And yes, here’s another rant about the traditional media which, rather than educate, repeats sensational headlines.

Sunset above Singapore
the “ghost fleet” of the world recession

via Flickr user =Lonely.X.Poet=

austinkleon:

Portrait of a housing bust

Troubled Times for Architecture Industry

The virtual evaporation of significant new construction projects in New York City is deeply hurting the architectural profession, forcing firms to lay off employees, cut their fees, diversify their practices and search for work in other cities and countries.

During the expansive 1980’s, architects came to enjoy near-celebrity status, as they remade the city’s skyline. Now, they are scrambling for work.

”Everyone is slowing down,” said Lenore Lucey, executive director of the New York Chapter of the American Institute of Architects. ”Or, if they’re busy now, they are looking at slowing down by the end of the year.”

…

by David Dunlap for The New York Times

Published: July 5, 1990

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