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Matters Financial |
3 November 2003
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America's Economy Grows 7.2%
Last week's economic data may just be the proof businesses need to start the long awaited hiring boom. GDP for the third quarter of the year grew at 7.2%, which is the biggest result since 1984, when Mr. Reagan's recession was ending. On top of that, joblessness dropped to 6.1% with 57,000 jobs added to payrolls in September. Which only proves that deficit spending at record levels eventually causes some expansion. Click here to read more.
China's Dollar-Peg Will Hurt China
As a matter of national sovereignty, the government of the People's Republic of China has the right to value its currency at whatever rate is chooses. Indeed, it can have a yuan for exports and a renmimbi for domestic transactions and it could offer to trade in wampum, tulip bulbs or salt if it wanted. But under its current policy of pegging the yuan to the dollar, it is ultimately hurting its own economy. Click here to read more.
XM Radio Signs up Millionth Subscriber
XM Radio reached the 1,000,000 subscriber mark last week. Whether the firm itself will profit from the change it is making to broadcasting is still undecided, but the change is coming. Thanks to XM, its rival Sirius and the entire technology of satellite broadcasting, advertising, music and other forms of communication won't survive in their current form. Click here for our view.