July 2011 Archives
The number of factories in the United States employing more than 1,000 workers fell by one-third from 1997 to 2007, leaving 1,014 such factories. The New York Times reports on a new study by Tom Holmes that puts an interesting twist on this familiar narrative. It reports that most of those factories did not close, they simply employ fewer people.
If the government doesn't raise its debt ceiling so it can borrow more, the U.S. will default on loan payments for the first time in its history. One of the first signs that Wall Street thinks that won't happen will be increased premium rates for credit default swaps said V.V. Chari in a Star Tribune article.