A New Market in The 'Hood': L.A. Gang Tours

The entrepreneurial spirit is alive and well in South Central L.A. Feel free to take a Gang Tour of in L.A. for $65.

Here is an interesting article about it in the New York Times. I should note that all participants are required to sign a waiver acknowledging the risk of injury.

Debt to GDP ratio

"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

This one is good!

Also, you can download the song, or check out the lyrics and more here.

How the Federal Reserve Works

How the Federal Reserve Works

I.O.U.S.A. - The Movie

Check out the link here on youtube. It's about 30 minutes.

30 Days of Outsourcing

Creation of Modern Banking Activity

Flash through Recollections of Pine Gulch

Part One: Click Here

Part Two: Click Here

When finished, please get a worksheet for a quiz on the readings.

Video: Are You Really Unemployed?

UNEMPLOYMENT: THE MOVIE

Click on the movie to play. It looks like a spreading plague or something.

HT: Carpe Diem

Detroit's Abandoned Buildings Providing Opportunity For Pranksters.

Read more here about this and other pranks from the Wall Street Journal.

The Berlin Wall: Before and After Photos

Here is a great NY Times photo of the Berlin Wall, before and after. It sure looks from the photos that East Germany has become relatively prosperous, at least compared to their living standards during communism.

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."

Another Debt Chart, This One Even More Depressing

Current debt projections, unless changes in spending and taxes are made. Read more here from economist John Taylor.

United States Debt to GDP Ratio

Ships That Don't Move: The Global Recession Takes its Toll

The current recession has seen the biggest decline in global trade since the great depression, and can be exemplified by the ghost fleet of ships seen off the coast of Singapore, below.

As the Daily Mail writes: "The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year."

US National Income vs. The World

Here is an very interesting interactive chart comparing Gross Domestic Product around the world. Click on the image below to compare a nation's income based on region, religion, population, language, and much more.

Need Some (Facebook) Friends... Here's a price

Want some new facebook friends? You can have them easily... for a price. 7.6 cents per friend, precicesly.

As PC World Writes: "For a piddling 7.6 cents per friend, Usocial will deliver 5000 new buddies to your Facebook account. That's $654.30 worth of lovin' from people you'll never meet..."

Back in Business

Redonomics is back after a long and restful summer. Please check back for many updates this fall. Thanks for stopping by Redonomics.

Photos from Japan Trip

Great Advice on Budgeting From SNL

Global Economic Pain

Read more here from the Journal, for an excellent perspective on the global recession, and the stats show it is a bad one.

A Tough Market For College Grads

An excellent story in the Minneapolis-StarTribune today highlights the difficult job market facing college grads today:

"Just 19.7 percent of 2009 grads who applied for a job have one so far, down from 51 percent at the same point in 2007, according to a new survey by the National Association of Colleges and Employers.

Those employers say they plan to hire 22 percent fewer graduates than last year. Another survey by the group shows the average starting salary dropped 2.2 percent from the same time last year."

Let's hope these students do graduate with high-interest credit card debt in addition to their student loans. For the current unemployment rate, the worst in 25 years, check out my previous post here.Above photo: St. Olaf College, Northfield, MN

AP TEST REVIEW ON FACEBOOK

You are invited to attend an AP Economics review event on Facebook, hosted by David Mayer, a friend of mine and a Teacher at Churchill High School in San Antonio, Texas.

Here is the link:

MACRO: http://www.facebook.com/event.php?eid=90215276873

If you have any questions, post it at this site and a highly qualified teacher will answer your question.

15,000 Views, Check it Out!

15,000 views, of video I took from these students performing Georgian music and dancing from my Study Tour to the beautiful Republic of Georgia with the Council for Economic Education. Read about it here, page three, and check out the video.

8.9%, - 5,700,000 Jobs Now Lost Since Recession Began