“The chart above over the last 12 months of: a) the Bloomberg U.S. Financial Conditions Index (data here) and the S&P 500 Volatility Index (data here) show that the financial markets went through a rough patch in May, June and July of slightly elevated risk, but have now recovered to the conditions that prevailed in the spring. The recent improvements in these two daily market measures of risk should probably mean that the chances of a double-dip recession are much less likely now than at any time over the last four months.”
[via Mark J. Perry & Bloomberg]
Image by jvoves via Flickr
“Between one-third and one-half all students at Stanford, MIT, University of Pennsylvania, University of Chicago and UC Berkeley come from abroad. These schools are training camps for immigrants transitioning into careers as American entrepreneurs.
Equally important, immigrant commerce also thrives at the grassroots level. It manifests most visibly in the proliferation of small stores, restaurants, food-processing businesses, garment factories and trucking lines. Overall, immigrants are 60% more likely to start a new business than native-born Americans. The number of self-employed immigrants has grown even in New York City, where the number of self-employed among the native-born has dropped.
Immigrant businesses have thrived by providing basic services, such as banks, insurance agents, funeral homes and grocery stores. Some of these businesses arose because the mainstream community had failed to identify opportunities in these markets or had consciously decided to exclude them.
This diversity will allow Americans to tap the global market, and culture, in ways other countries and their state-based enterprises just can’t match.”
You find the complete comment on Forbes: America’s 21st-Century Business Model.
Image via Wikipedia
Too the extent the vintage wine price can be used as an economic indicator it looks like South Africa is recovering from the financial crisis. The nation’s biggest Wine Auction in Paarl wine district this weekend reached vital levels:
“South African vintners raised 41 percent more money at the annual Nederburg Auction, the biggest of its kind in the country, as increased bidding reversed a two- year decline.
Income at the Nederburg Auction jumped to 5.68 million rand ($789,513) from just over 4 million rand a year earlier.”
Full story from Bloomberg here.