Over the course of 2012, the U.S. economy rebounded with all the vitality of a slug waking from a long nap. In debt-strapped, recession-hit Europe, investors fret about a Spanish bailout, a Greek default and whether the euro itself will shatter.
It’s hard to know sometimes which is the greater threat to prosperity -- headlong technological progress that’s destroying decent jobs and hollowing out the middle class, or fading technological progress that’s causing persistently slow growth. With a little ingenuity, you could no doubt combine these ideas and worry that technological progress is both too fast and too slow.
New Jersey Democrats will try for a second time to prohibit fracking for natural gas in the most densely populated U.S. state, after Governor Chris Christie vetoed a ban in August and lodged a one-year moratorium.
As New Jersey Governor Chris Christie leads his opponent by as much as 34 percentage points in his bid for a second term, some Democrats say they’re worried that votes for the incumbent Republican will trickle down the ballot.
Detroit’s unions and retired workers face longer odds of ending the record-setting bankruptcy than the city does of winning continued court protection in a trial that started today, lawyers not involved in the case say.
The European Central Bank would do “a lot, lot more” in terms of easing monetary policy if it mimicked the aggressiveness of foreign counterparts, says David Mackie, chief European economist at JPMorgan Chase & Co.