What's the Real Value?

Here's a very interesting look at inflation-adjusted housing prices since 1970. I infer from this that the value crash from 2006 onward has a ways to go yet. (We'll need to get below the moving average price before we can climb back about it.) As a homeowner with a house for sale, this is not great news. However, reality is reality.

I Knew I was Right

A widely held public conception is that America's manufacturing industries are in decline and have been for decades. I have always believed this to be incorrect and here's the evidence. In fact, US manufacturing has doubled in real dollars since 1975.

What's happening is that manufacturing is becoming significantly more productive over time and it is declining as a percentage of the total US economy.

My hat's off to all of us who work in manufacturing. We're doing a damn good job, if I say so myself.

I Could Not Have Said It Better

My wife and I sent both of our daughters to good universities from our own money. At one time, one of my daughters was (very briefly) considering taking out a student loan. She was trying to be noble and lighten the load on her parents. I quickly convinced her that a loan was a bad idea: here's why.

If a private organization managed loans the way the government does, the private loaner would be in prison.

Ever Wonder?

If you follow economic news at all, you may know that California has the eighth largest economy in the world. The Economist has published a great chart showing how each US state compares with nations around the world.


(My apologies that I'm unable to embed an image. The view of the chart itself is pretty good.)