November 1, 2013: Candy hangover
It’s a safe bet you were up all night getting down with your bad self, playing ding dong ditch, and toilet-papering the houses of neighbors who couldn’t be bothered to hand out anything better than Candy Corn (which is terrible) to trick-or-treaters. We understand. Halloween only comes once a year, after all.
That’s why it’s cool if you missed yesterday’s news of the Obama administration’s foreign investment extravaganza at a Washington, DC hotel. Officially hosted by the Department of Commerce, the Select USA summit serves as the White House’s pitch to global businesses to make 'it' here in America. And it’s putting some legitimate sweat into the event, which continues today. Writes Howard Schneider of the Washington Post:
(President Obama) was the headliner of an administration push to persuade foreign entrepreneurs to bring their money here, build plants, set up offices — and hire people. It’s an endeavor serious enough that, Commerce Secretary Penny Pritzker said, the country’s ambassadors and foreign trade officials are going to have their job performance rated in part on how well they do in encouraging inbound investment to the United States.
Elsewhere around the web:
A Trans-Pacific Partnership (TPP) trade deal is good for business, says Ford Motor Co. Vice President Stephen E. Biegun, but it can’t ignore the very real problem that is currency manipulation. Read his opinion in the Detroit News:
While Ford supports high-standard trade agreements, we are a bit old-fashioned in one respect — we believe that countries that want a free trade agreement with the United States should themselves embrace the model of free trade. It is for this reason that we have been so vigorous in demanding a rules-based trading system that includes strong and enforceable currency disciplines.
We sure hope this gets talked about today at Select USA:
For what it’s worth: Manufacturing activity in China is ticking up, say a couple of new reports. But, notes Richard Silk of the Wall Street Journal, economists fear too much of that activity is driven by the Chinese government. Factory activity here in the States, on the other hand, is expanding at its best pace in 2 ½ years. Of course, it remains to be seen whether the jobs numbers will have improved as a result. Stay tuned to the #AAMeter a week from today to find out.
Send in your jobs report.
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Welcome to November, America!
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