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Economic Indicators, Leading and Otherwise

Apr
14
2004

Whoever’s running Blame India Watch got out of the wrong side of the bed this morning and, boy, is it worth the read. The guy or gal writing that site is snarkier than I ever was and well, I do so enjoy saying that.
BIW takes aim at all the Tech Bubble magazines, specifically Fast Company, and lands some smart criticisms about the way CEOs were portrayed then and the way job loss is being written about now. See what a difference a stock market crash makes?


Meanwhile, two other economic trends crossed over the browser transom. One, California’s tax takes for personal income and sales taxes in March, 2004 appear to be slightly above what was anticipated. The state’s unemployment rate, however, rose slightly (link via Dan Weintraub). Now, unemployment lags a little in recoveries. But I’m sticking to my belief that since so many people (in NoCal in particular) are self-employed, these numbers may be a bit off for that reason alone. I know it’s a bugaboo of Liberal economists like Paul Krugman to say that White House is hiding behind self-employment estimates. But I think they might be, at least partially right. No one I know has a job. And no one Mickey Kaus knows has a job either. Following that logic, well, you see, no writers have jobs…oh, never mind. You get the idea.
Slightly more subtantially: the Silicon Valley traffic index – a completely unscientific look out the windshield at rush hour traffic into San Francisco during a non-baseball game rush hour – continues to be strong. The 280/380 merge was bumper-to-bumper last Thursday into the city, smooth leaving. And, more importantly, Orkut, the social networking site for Silicon Valley insiders (and yes, some are looking for dates) has carried a job availability a week for about three weeks now. Oh, and they’re programmer and code gigs, not marketing or PR.
And finally, Daniel Drezner, who sometimes fills in for Andrew Sullivan, had a report from a British economist saying that San Francisco (which includes Silicon Valley) is the headquarters of the world’s “Knowledge economy.” Why? Well, believe or not, schools (they’ve got to be thinking universities and, honestly, that might not last) More easy to believe: an abundance of investment capital. And lots of geeks. See. Venture capitalists and Geeks. They’re good for something after all. But only together.

Share  Posted by Chris Nolan at 4:09 PM | Permalink

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