Jason Welker (jasonwelker)'s Public Profile in the Diigo Community

Economics Educator

Member since May 04, 2008, follows 36 people, 4 public groups, 524 public bookmarks (534 total).

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Recent Bookmarks and Annotations

Life on Severance: Comfort, Then Crisis - WSJ.com on 2009-11-10
- The family recently vacationed in Virginia Beach, Va., and likes to dine on Porterhouse steaks. Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He's turned each down in hopes of landing a position comparable to what he held before.
  - Jason Welker on 2009-11-10
    
    Unemployed Americans unwilling to accept lower wage jobs! This sounds like evidence of the "sticky wages" Keynesian observed in his arguments for fiscal stimulus!
- Mr. Joegriner is a member of what might be called the severance economy -- unemployed Americans who use severance pay and savings to maintain their lifestyles. Many lost their jobs in 2007 and 2008, and thought they'd soon find work. Now, they're getting desperate.
  - Jason Welker on 2009-11-10
    
    I bet these people just wish they had taken that good offer a year ago. Finance people laid off during this recession must have an artificially inflated view of their own value in the labor market: over-inflated like the assets they had dealt in!
- 4 more annotations...
- - Last week, lawmakers passed a bill extending unemployment benefits up to 20 weeks. Unemployment benefits, which typically last about 26 weeks, were expected to run out for 1.3 million people by the end of the year, according to the National Employment Law Project.
    Jason Welker on 2009-11-10
    
    Extending unemployment benefits, while it is a NICE thing to do, only increases the downwardly inflexible nature of wages.
  - The dramatic changes in such sectors mean that many of the eliminated jobs will never come back. Some workers may suffer a permanent hit to their standard of living.
    Jason Welker on 2009-11-10
    
    Why won't certain jobs ever return to the US economy? Is it at least partially BECAUSE American workers are so unwilling to accept lower wages?
  - When Michelle Patterson was laid off as an executive director of marketing for a publishing company in January, she figured she could subsist comfortably, at least for a while, on the $20,000 she had reserved from her savings and severance combined.
  - She spent as much as $250 a week on networking meals and drinks with contacts. Some days, she scheduled up to four coffee meetings a day, picking up the tab most of the time. She also spent $30 a month for pedicures and $150 on her hair.
    Jason Welker on 2009-11-10
    
    You've got to be kidding me! This is what our world has come to. Unemployed Americans, delusional about their own worth, spending $180 a week on what, mani-pedis?
A Micro problem for the advanced Econ student | Welker's Wikinomics Blog on 2009-11-09
FT.com / China / Economy & Trade - Renminbi at heart of trade imbalances on 2009-11-09
- “In east Asia there has been a bit of appreciation against the dollar which helps at the margin, but the el
- “The Americans get the toys, the Chinese get the Treasuries and we get screwed.” Thus a European Union official once characterised the pattern of Beijing accumulating US assets by selling renminbis for dollars, while nothing stood in the way of a rapid and destabilising appreciation of the euro.
- 1 more annotations...
- - Mr Lyons says that in previous economic cycles, there appeared to be a strong correlation between exports and business confidence in east Asia,
A special report on China and America: : Round and round it goes | The Economist on 2009-11-06
- China, a developing country, lent vast amounts of money to wealthy America to feed its spending habit. Americans spent the money on Chinese-made goods, sending the dollars back to China, which lent them to America again.
- for its growth, and on America in particular. By 2007 the value of China’s exports amounted to about 36% of its GDP, up from just over 20% in 2001.
- 8 more annotations...
- - American market, overtaking Canada. And by September 2008 China had surpassed Japan as the largest holder of US Treasuries
  - China certainly helped its exporters by keeping the value of its currency low, buying dollars that were used to buy US Treasuries.
  - e much of the value of Chinese goods consumed in America was created elsewhere. The biggest driver of growth in China was investment, and that has become all the more true as China tries to pump up its economy with nearly $600 billion in stimulus spending.
    Jason Welker on 2009-11-06
    
    America might not be as crucial for Chinese growth as previously thought! Domestic investment is biggest factor now!
  - trading system, but it has no desire to pull the rug from under America’s economy. A run on the dollar would be a blow to China itself, slashing the value of its stash of over $800 billion in US Treasuries. Chinese officials also worry openly about a possible resurgence of inflation in America, which would also drive down the value of the dollar.
    Jason Welker on 2009-11-06
    
    China is worried about the dollar's value, but is not likely to sell its dollar assets, since this would surely devalue the dollar and harm China too.
  - A recent study by the Peterson Institute says that the yuan remains “significantly undervalued”, by 15-25% against a weighted average of the currencies used by China’s trading partners
  - As Americans save more and buy less from China, America’s trade deficit with China—which has been its biggest with any country since 2000—will shrink anyway. But protectionist sentiment in both countries will remain strong.
  - Americ
  - reject a takeover bid by Coca-Cola for a Chinese juice company as a bad omen. As Chinese businesses look around America for bargains, they will get a mixed reception: sellers are eager for China’s cash, but worried about the survival and security of Brand America
    Jason Welker on 2009-11-06
    
    Chinese continue to demand US assets in the capital account, but American businesses are reluctant to sell to Chinese investors...
YouTube - ACDCLeadership's Channel on 2009-11-05
Knowledge Learning Corporation | Child Care & Education Services on 2009-11-05
FT.com / Asia-Pacific - Renminbi at heart of trade imbalances on 2009-11-03
- The Americans get the toys, the Chinese get the Treasuries and we get screwed.” Thus a European Union official once characterised the pattern of Beijing accumulating US assets by selling renminbis for dollars, while nothing stood in the way of a rapid and destabilising appreciation of the euro.
- A string of countries including Thailand, Malaysia and South Korea have intervened either verbally or in the foreign exchange markets in recent weeks to slow the rise of their currencies.
- 1 more annotations...
- - Mr Lyons says that the east Asians are wary of allowing the same to happen to them. “There is a concern that if they let the exchange rate rise, it will attract a lot of hot money but hit confidence,” he says
Swiss Banking Is Finished on 2009-10-30
Digitally Speaking / Social Bookmarking and Annotating on 2009-10-28
Excuse me, China… could you lend us another billion? | Welker's Wikinomics Blog on 2009-10-26

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Groups

Diigo In Education

3332 members, 2674 items

“Diigo In Education” - Phase I just released. More to come.. Share your classroom usecase, ideas, reviews, features, and wishlists for making Diigo a great resource and platform in teaching and learning. Let's explore the full potential of Diigo as an educational tool.
Econ Teachers

20 members, 10 items

A place for economics teachers to post and share resources such as websites, news articles, blog posts, podcasts, videos or any other useful online tool to enrich and enhance the economic classroom experience
ZIS Economics

43 members, 147 items

For students in Mr. Welker's IB and AP Economics classes at Zurich International School
ZIS Economics 2011

13 members, 25 items

For IB Economic Higher Level students to graduate in 2011