Even the shortest visits to the US tell you things about the economy that you would not get from the figures. While this university town might seem to be sailing comfortably along, it is only an hour from Detroit, home of the US auto industry.
The American education industry remains in pretty good shape but the car industry most certainly is not. The talk is about globalization and the energy squeeze but the practical impact of both is being felt in jobs and most particularly in property prices.
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Thursday, August 31, 2006
Hamish McRae: Americans are in for tough times, even if the Fed won't (yet) say it
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