Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
April 19, 2013 at 10:12 AM
Vote: The sequester and me
The most dire predictions about the consequences of the sequester, the “meat ax” of automatic, across-the-board federal budget cuts, haven’t materialized. At least not yet. Plans to shut smaller airport control towers, including 5 in Washington, were put on hold. The Department of Agriculture found a way to protect food inspections from the reductions.
On the other hand, it is being felt at a more fine-grain level: Some Head Start programs are closing, families holding government jobs are facing unemployment. Now, officials are warning of flight delays because of reduced Federal Aviation Administration staffing even at major airports. The first phase of thousands of furloughs from the Environmental Protection Agency kicks in later this month.
Today’s poll question is about whether and how the federal cutbacks are affecting you:
Read on for the best links of the week and the haiku…
This Week’s Links:
The chart making the Fed nervous | Zero Hedge
Gold crash is an instructive whodunit about financial markets | Heidi N. Moore/The Guardian
The terrifying reality of long-term unemployment | The Atlantic
Should China worry about a GDP slowdown? | The Atlantic
More bad Excel | Baseline Scenario
Forget Excel, this was Reinhart and Rogoff’s biggest mistake | The Atlantic
A Silicon Valley vision for San Francisco | NY Times
Oregon venture capital off to fastest start in 13 years | The Oregonian
Low interest-rate environment exposes seniors to fraudsters | Washington Post
Manufacturing still matters | Clyde Prestowitz
The Fed’s foreclosure-relief fail | The American Prospect
Today’s Econ Haiku:
Rogoff and Reinhart
Launched the austerity ship
Then their data sank