Larry's Blog
The Age of Uncreative Destruction
December 6, 2010
Economic growth is a process of death and rebirth. On the micro level, jobs are plowed over by labor-saving inventions that promote greater product per worker. New products and services will emerge, and the production of these will require human capital to operate. Firms and even whole industries made obsolete by the march of time […] More
New Overnight Developments Abroad - Daily Update
Dollar Snaps Higher
December 6, 2010
The dollar has largely reversed Friday’s post-jobs decline. The greenback rose overnight by 1.1% against the euro, 1.0% versus the Swiss franc, 0.8% relative to the kiwi, 0.7% against sterling and the Australian dollar, 0.4% vis-a-vis the Canadian dollar and 0.3% against the yen. China’s yuan is 0.2% higher versus the dollar. There’s been few […] More
