One of the gloomiest economists I know suddenly has become a bucket of sunshine. Robert Z. Aliber, an author and professor emeritus at the University of Chicago who once worked beside economics icon Milton Friedman, predicts that in 2011:
the U.S. economy will grow 4.5% to 5%;
the stock market will rise 15%;
state financial crises will turn around as more vigorous economic growth benefits state revenue;
The U.S. economy can absorb the hit from the past week's rise in oil prices, but could stumble anew if continuing Mideast turmoil pushes crude prices significantly higher. Benchmark crude-oil prices in the U.S. have jumped about $6.50 since Thursday to more than $92 a barrel Monday, their highest point since October 2008.
Road to Recovery: Bringing Customer Service Back to America
By: Jonathan Serrie
2/9/2011
Consumer complaints and high unemployment may help reverse the trend of outsourcing customer service jobs to developing countries. "In the last 10 years, over one million jobs have been sent to India or the Philippines in the customer service call center space alone," said Angela Selden, CEO of Arise Virtual Solutions. "What companies discovered was that, while that was great from a cost perspective, what they were losing was the connection with the customer."
A total 975 homes sold in the Austin area last month, or about 14 percent more than in than January 2010, according to Multiple Listing Service data released on Monday. The Austin Board of Realtors said single family homes also sold for a higher average price - about $190,000, up 6 percent from last year. Properties spent an average 93 days on the market, 11 percent longer than January 2010.
Austin is now home to about 790,390 residents, or about 20.4 percent more than 10 years ago, according to U.S. census figures released Thursday. The influx mirrors statewide trends with Hispanic and minority populations experiencing the bulk of growth, according to an in-depth report from the Austin American-Statesman. Young Hispanics are poised to takeover as the state's largest demographic, according to a Bloomberg report on the same numbers.
