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SMW for 2 November 2023



AT THE CLOSING BELL ON 2 November 2023


Dow Jones 33,839.08 +564.50 (1.70%)
S&P 500 4,317.78 +79.92 (1.89%)
Nasdaq 13,294.19 +232.72 (1.78%)

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

Quote for the Day:

Postindustrialism, then, may be more a quest for genteel retirement than a real economics-based future for a major power. Weary global economic powers seem uniquely vulnerable. Those who insist that the manufacturing imperative still applies to the present-day United States invoke three powerful examples: Germany, Switzerland, and Japan. All three nations have wages or overall production costs higher than those of the United States. All have reasonably successful financial sectors and postindustrial accomplishments (tourism, ecological awareness, and renewable-energy emphasis – wind in Germany, solar power in Japan). However, they balance these with highly developed manufacturing industries. For Germany, machinery, vehicles, chemicals, and metal products are the great exports; for Switzerland, chemicals, metal projects, machinery, and mechanical-engineering products (especially clocks and watches); and for Japan, vehicles, electronics, and computers. Each nation's products command global respect for quality.

Kevin Phillips. American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century. Viking Press. © 2006.