Word: rising
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...sector." And it's possible that corporate cutbacks could lead to a relapse among consumers. "The main downside risk probably lies in sharper-than-expected multiplier effects via the dramatic deterioration in the labor market," warned Goldman Sachs economist Jan Hatzius on Monday after predicting that consumer spending would rise for the rest of the year. "Both the weekly and monthly labor market indicators still show an accelerating employment contraction...
...While labor prices drop in the U.S., they are probably dropping faster in countries like India and China. India's official unemployment rate is 8.2%, but is expected to rise throughout the balance of the year. IBM clearly arbitraged the joblessness in the U.S. and India as it made its decision about where to employ several thousand people. To put it crassly, IBM is looking for the equivalent of the lowest cost bidder...
...most obvious reason the small-TV era has made television better is the rise of cable. Even as Fox finds new hours on the clock to air American Idol, brilliant comedies and (especially) dramas on cable are flourishing - Breaking Bad, United States of Tara, In Treatment, Rescue Me and The Colbert Report, just for starters...
...craptastic dreck. There will be less middle-of-the-road TV for everybody but more venues for telling stories that don't have to please 30 million people. The old networks (and the people who make shows for them) will struggle to make a buck, but new outlets will rise and thrive. ER will pass, but hospital dramas have birth stories as well as death stories. Broadcast TV may be flatlining. But its offspring are doing just fine...
...just as "the '60s" ended when Americans got tired of being alarmed and hectored, and "the '70s" ended when stimulants became more popular than depressants and AIDS appeared. But in all salient respects, "the '80s" - Reaganism's reshaping of the political economy, the thrall of the PC, the vertiginous rise in the stock market...