What We’re Reading, 4/30/12
Every morning, we poll the staff and round up their favorite economic, financial and political reads of the day. What we’re reading over our first coffee: public job loss, arguments for inflation, and a very unscientific analysis of one writer’s grocery costs.
"Domestic Violence Rises in Sluggish Economy, Police Report," by Kevin Johnson (USA Today). Some disturbing numbers in a new report from the Police Executive Research Forum: 56% of surveyed police agencies say that the economy is contributing to more domestic violence, up from 40% two years ago.
"Threat from Mounting Public Job Loss Tested Obama’s Economic Strategy," by Zachary Goldfarb (Washington Post). State and local governments lost more than half a million jobs during Obama’s tenure, which hugely impacts the economy — and the Obama campaign. Goldfarb quotes Mark Zandi, the chief economist at Moody’s Analytics: “The job losses at state and local governments is the most serious weight on the job market.”
"No End in Sight," by James Surowiecki (The New Yorker). Speaking of job loss, Surowiecki has a great, wide-ranging overview on unemployment’s costs to both individuals and the economy.
"How Apple Sidesteps Billions in Taxes," by Charles Duhigg and David Kocieniewski (New York Times). In short: They keep a small office in Reno. (And Ireland, the Netherlands, the British Virgin Islands … )
"The 2% Catastrophe: How One Number Explains the Miserable Economy," by Matthew O’Brien (The Atlantic). O’Brien makes an impassioned — occasionally caps-locked (!) — argument for more inflation. A sample: “The Federal Reserve is crucifying the U.S. economy on a cross of two-percent inflation.” Your friendly curator would not necessarily call the economy “miserable,” but it’s a thought-provoking read.
In other news: An Australian billionaire plans to build a second Titanic, the treasury secretary changed his signature to make it neat enough to sign on bills, we may be witnessing the birth of a fake fine wine epidemic, and a Billfold blogger says Whole Foods is cheaper than you think. Also, in case you haven’t already overdosed on coverage of last weekend’s White House Correspondents’ Dinner, GQ has a colorful recap — complete with Instagrams!
Happy reading, Tumblers.