Why North Dakota May Be the Best State to Live In

North Dakota

North Dakota has a budget surplus.

While many states are confronting severe budget shortfalls and dragging economies, North Dakota has a different sort of problem. It’s stuck deciding how best to deal with a budget surplus. Yes, a surplus. North Dakota’s balance sheet is so strong it recently reduced individual income taxes and property taxes by a combined $400 million, and is debating further cuts.

 

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China’s Economy Overtook the U.S. in 2010 to Become Number One

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China’s economy overtook the U.S. in 2010.

Some time in 2010, the Chinese economy overtook that of the United States.  In purchasing power parity (PPP) terms – that is, adjusting for the different costs of living in the two countries – the size of China’s economy was $14.8 trillion in 2010, compared to the US economy’s $14.6 trillion.

 

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China’s Growing Pains on the Road to Urbanization

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Blocks of soon-to-be-completed residential apartments tower over the simple fish farms that are a feature of Shanwei.

How are China’s ever-expanding small cities coping with the challenge of rapid growth? Daniel Chinoy finds out in Shanwei, a city that would be a major urban hub in any other nation.   On the coast of Guangdong province, two hours northeast of Shenzhen, is a city with a population of about 3.5 million, 500,000 more people than Chicago, and an annual GDP growth rate of about 17 percent. Few people have heard of this city.

 

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Could the U.S. Suddenly Collapse?

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U.S. economic collapse

For centuries, historians, political theorists, anthropologists and the public have tended to think about the political process in seasonal, cyclical terms. From Polybius to Paul Kennedy, from ancient Rome to imperial Britain, we discern a rhythm to history. Great powers, like great men, are born, rise, reign and then gradually wane. No matter whether civilizations decline culturally, economically or ecologically, their downfalls are protracted.

 

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How Economic Indicators Are Misleading About The Present

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The month of January offered those who track the ups and downs of the U.S. economy 92 significant data releases and announcements to digest. That’s according to a calendar compiled by the investment bank UBS. The number doesn’t include corporate earnings, data from abroad or informal indicators like, say, cardboard prices (a favorite of Alan Greenspan’s back in the day).

 

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Are Future Generations On A Path To Downward Mobility?

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Health spending could threaten future living standards

Every generation of Americans should live better than its predecessor. That’s Americans’ core definition of economic “progress.”  But for today’s young, it may be a mirage. Higher health spending, increasing energy prices and stretched governments at all levels may squeeze future disposable incomes — what people have to spend — and public services. Are we condemning our children to downward mobility?

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