Economists on Jeopardy

Don't Worry, Your Never McFar...

...from a McDonalds restaruant, if you are in the US. The fartest distance between McDonalds in the continental 48 states is 145 miles.

"between the tiny Dakotan hamlets of Meadow and Glad Valley lies the McFarthest Spot: 107 miles distant from the nearest McDonald’s, as the crow flies, and 145 miles by car!"

Not Very Stimulating: 49 of 50 States Have Lost Jobs Since The $787,000,000,000.00 Stimulus Package Passed

From the House Ways and Means Committee:

"The table below compares the White House's February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs. To see how stimulus has failed your state, see the table below."

Neat Interactive Map of US Housing Foreclosures

Check out how the worst of the foreclosure market seems to be concentrated in just a few states. Play with the map here, or click on the map.

The Invisible Hand At Work. Wal-Mart and Amazon.com Have A Price War

Competition.

"Wal-Mart triggered the online skirmish Thursday when it began selling its 10 most anticipated hardcovers for $10 apiece when pre-ordered on its Web site. Amazon matched the offer hours later and Wal-Mart then chopped its price to $9. Friday morning Amazon had matched the price."

Read more here.

DOW 10,000

While the Dow Jones just hit 10,000, reaction was much more muted than the first time 10 years ago. Here, the journal writes about the caution many traders have about the economy going forward, especially about the national debt, soon to reach $12,000,000,000,000.

"Reaction this time was more muted than the first time the Dow closed above the 10000 mark, on March 29, 1999, when traders popped Champagne and passed around "Dow 10000" baseball caps. "People don't believe it, they don't trust it, they are nervous, they are anxious," said Andy Brooks, head of stock trading at money-management group T. Rowe Price. "Most of us can't believe the year we have just been through, where you made and lost so much money."

"But in the longer run, many of the problems that worry investors will need to be resolved, such as the high levels of bad loans and securities on bank balance sheets, the weakness of the real-estate market and the nation's heavy consumer and government debt. "We don't see a catalyst that would immediately drive the economy lower, but there certainly is some risk that the market could retrace its gains" since they have come so rapidly, says Bruce McCain, who helps oversee $20 billion as chief investment strategist at Cleveland's Key Private Bank."