Why the U.S is and will remain miles (sic!) ahead of europe.

If you want to understand this you simply have to listen to the below excerpt from a planet money interview with Mark Zandi the chief economist of Moody’s Analytics and contrast that with the petit bourgeois, xenophobic attitude towards immigration that is prevailing in Europe: and again, fundamentally we are fine. we can’t loose the sight of what makes our economy really tick though and that is: the most educated population, the best infrastructure and most importantly of all that we continue t…

Looking at the crisis from inside the belly of the beast

One of the more notorious/famous places in São Paulo is the boutique department store (Villa) Daslu. According to wikipedia ‘the boutique is known as the ‘fashion designers mecca’ of Brazil as it houses more than 60 labels plus 30 store-in-stores and is the place where Brazilian socialites, ranging from multi-millionaire soccer players to conglomerate bigwigs shop for the latest accessories and clothing’. Leged has it that Daslu is the only department store in the world where you can also buy he…

What goes up must go down [dubai edition]

Patrice just pointed (via the sarai reader list) to a fascinating little read about the impact of the cirsis in Dubai. Seems like lots of (primarily British) expats are secretly levaing the country in fear of being jailed for not being able to pay the debts amassed by their bloated lifestyles of the past years. As a result the parking lots arround DXB are becoming clogged with abandoned cars: […] Now, faced with crippling debts as a result of their high living and Dubai’s fading fortunes, many e…