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Although the final numbers won't be in for several weeks, it looks to be another tough year for the retail music industry. The slide in recorded music sales that began in 2001 showed no signs of ending this year. But not all the news is bad.
Katherine Cole | Washington 25 December 2009
Wilco's 'Wilco (The Album)' CD
Wilco's 'Wilco (The Album)' CD
There is no way around the fact that things are tough, business-wise. Billboard magazine reports that through the week ending November 29, U.S. CD sales plummeted nearly 20percent, and digital track sales rose at a much slower pace than last year, up less than 10 percent as compared to last year's 28 percent jump.
Music-wise, however, things weren't so gloomy. It was a very good year for fans of Americana music, with the roots-based style getting its own Grammy category in time for the annual awards in January. Among the five nominees is Wilco, who's CD, Wilco (The Album) is showing up on many critics "Best of 2009" lists.
Dylan, Cash release new albums
Bob Dylan
AP
Bob Dylan
Bob Dylan released two very different-sounding albums this year. His Christmas album left critics and fans scratching their heads, trying to figure out if the singer-songwriter was serious. But Dylan's other release, "Together Through Life" was well-received. The album has a very "live" sound to it, and despite the bluesy sound, it's lighter in tone than its predecessor, Modern Times. There's even more than a bit of humor in the songs, especially "My Wife's Hometown."
2009 also saw the return of Rosanne Cash. Her CD, The List, has a very interesting history. When Cash turned 18 and started writing songs, her father, Johnny Cash, was concerned that she only knew the songs that were being played on the radio, and nothing else. He handed her a list of what he considered the 100 essential American songs. They include: "Girl from the North Country"; "Sea of Heartbreak"; and "500 Miles."
Mary Travers Dies
Mary Travers (2006 file photo)
AP
Mary Travers (2006 file photo)
"500 Miles" was also recorded by Peter, Paul and Mary on their 1962 debut. Mary Travers, the trio's glamorous blond who sang into the middle microphone, died in September after a long battle with leukemia. She was 72.
Singer-songwriter Gretchen Peters took up the guitar at age seven, and Peter, Paul and Mary songs like "Where Have All The Flowers Gone, were the first she learned to play. But it wasn't just Mary Traver's voice that attracted Gretchen. The harmony singing was equally important.
"That was a great education, just picking apart who sang what on the albums," Peters said. "Because sometimes, she actually sang lower than one of the guys. She would sometimes sing lower than Peter. And you'd have to kind of weed out [determine] who's singing what in the harmonies. It was not simple, simple stuff, but it was beautiful."
But not all the news was bleak in the folk music world in 2009. Lyle Lovett, Chris Smither, and Caroline Herring were among the many better-known artists who released new CDs. The year also saw notable music released by many lesser known artists, among them Lucy Wainwright Roche, Sometymes Why, and Amy Speace.
Cohen Earns Rave Reviews
Leonard Cohen's 'The Essential' Limited Edition CDLeonard Cohen's 'The Essential' Limited Edition CD
Folk fans around the world had another chance to see 75-year-old Leonard Cohen, as the legendary and formerly reclusive singer-songwriter criss-crossed the globe. In 2008, Cohen sold more than 700,000 tickets across 84 shows worldwide, and earning rave reviews from critics around the world. By the end of this year, the tour had stretched to 190 shows. And there is no end in sight. Tickets are now on sale for a series of March 2010 dates in France and Croatia, with more shows likely to be announced. 2010 will also see Leonard Cohen receiving a special lifetime achievement Grammy Award.
Cohen received more good news this year. His 2009 release, Live in London, which documents the tour in a double-CD set and a DVD concert video, is sitting atop many critics "Best of the Year" lists.
Showing posts with label VOA News. Show all posts
Showing posts with label VOA News. Show all posts
Monday, January 4, 2010
Thursday, December 17, 2009
VOA: More Signs of Pickup in US Economic Activity
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New U.S. data suggest a continued pickup in economic activity with moderate inflation that will make it easier for America's central bank to leave interest rates at historic lows.
Michael Bowman | Washington 16 December 2009
As a rule, economists do not welcome upticks in prices that signal inflationary pressure or a widening of America's trade deficit showing U.S. exports lagging further behind imports. But what would normally be worrying signs are actually viewed in a more positive light at a time when the United States is emerging from a deep and painful recession.
A year ago, economists openly worried about the recession sparking a destructive deflationary cycle in which the purchasing power of the U.S. dollar rises over time. Such a trend would incentivize consumers to postpone purchases, which would further slow economic activity and put downward pressure on prices for goods - causing the cycle to repeat itself.
And so a rise in the U.S. Consumer Price Index does not seem to worry financial analysts, especially since prices were largely in check if volatile energy and food categories are excluded.
Beth Ann Bovino is a senior economist at Standard and Poor's. "Certainly energy was a factor. So the CPI [Consumer Price Index] was up point-four percent in November, and the core price, which is something that most people look at - core price taking out food and energy - was actually relatively tame," she said.
Similarly, a widening U.S. trade deficit is no cause for celebration. But analysts say a jump from $115 billion to $132 billion in the third quarter of the year provides some evidence that American consumers are beginning to spend again. Consumer spending accounts for more than two-thirds of U.S. economic activity, and is seen as a critical element of a sustained economic recovery.
Meanwhile, the Commerce Department reports new home construction rose 8.9 percent in November.
"Seeing builders start to accumulate permits for the future does give some promise that we will begin to see some improvement [in home construction activity] as we move into next year," said National Association of Home Builders economist David Crowe. "Consumers have to get a little more confident, and builders have to be able to borrow money to build the houses. And those two critical elements are very fragile right now."
Making it easier for small businesses to access credit has been a prime focus of the U.S. government this week, including Monday's meeting between President Barack Obama and top American bank executives.
New U.S. data suggest a continued pickup in economic activity with moderate inflation that will make it easier for America's central bank to leave interest rates at historic lows.
Michael Bowman | Washington 16 December 2009
As a rule, economists do not welcome upticks in prices that signal inflationary pressure or a widening of America's trade deficit showing U.S. exports lagging further behind imports. But what would normally be worrying signs are actually viewed in a more positive light at a time when the United States is emerging from a deep and painful recession.
A year ago, economists openly worried about the recession sparking a destructive deflationary cycle in which the purchasing power of the U.S. dollar rises over time. Such a trend would incentivize consumers to postpone purchases, which would further slow economic activity and put downward pressure on prices for goods - causing the cycle to repeat itself.
And so a rise in the U.S. Consumer Price Index does not seem to worry financial analysts, especially since prices were largely in check if volatile energy and food categories are excluded.
Beth Ann Bovino is a senior economist at Standard and Poor's. "Certainly energy was a factor. So the CPI [Consumer Price Index] was up point-four percent in November, and the core price, which is something that most people look at - core price taking out food and energy - was actually relatively tame," she said.
Similarly, a widening U.S. trade deficit is no cause for celebration. But analysts say a jump from $115 billion to $132 billion in the third quarter of the year provides some evidence that American consumers are beginning to spend again. Consumer spending accounts for more than two-thirds of U.S. economic activity, and is seen as a critical element of a sustained economic recovery.
Meanwhile, the Commerce Department reports new home construction rose 8.9 percent in November.
"Seeing builders start to accumulate permits for the future does give some promise that we will begin to see some improvement [in home construction activity] as we move into next year," said National Association of Home Builders economist David Crowe. "Consumers have to get a little more confident, and builders have to be able to borrow money to build the houses. And those two critical elements are very fragile right now."
Making it easier for small businesses to access credit has been a prime focus of the U.S. government this week, including Monday's meeting between President Barack Obama and top American bank executives.
Sunday, December 6, 2009
Google Tries to Appease News Content Providers
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Internet search giant Google is offering news providers a new way to attract paying subscribers without having to remove their content from Google's search results. The proposal appears to be a compromise following threats by News Corporation chairman Rupert Murdoch to delist content from his news organizations unless Google pays for it.
Google is making changes to the way it handles news content, in an apparent attempt to appease news providers who claim the Internet search giant is undermining their ability to charge subscribers.
In a blog post called "First Click Free," Google's senior business product manager Josh Cohen wrote:
"Previously, each click from a user would be treated as free. Now we've updated the program so that publishers can limit users to no more than five pages per day without registering or subscribing."
The surprise move comes after reports that News Corporation Chairman Rupert Murdoch is in discussions with Microsoft to deliver paid access to News Corporation content through rival search engine Bing.
John Ridding, the chief executive of Financial Times, an international newspaper based in Britain, welcomed the move. "I think for the industry as a whole, it's very interesting and potentially important because there are a lot of publishers who haven't yet developed paid-for models, who are looking at a cyclical and structural decline in advertising revenues," he said.
At a time when newspaper circulation is declining rapidly around the world, Financial Times Web site (FT) says its subscriptions are up 22 percent, while revenues have jumped 30 percent.
"I think for us, we've already developed a successful paid-for model, which is working very well for us," Ridding said. "And we're seeing very strong growth in subscriptions and subscription revenues."
FT's online readers can currently access up to 10 free stories per month before being prompted to subscribe. But Ridding says the paper is working on a micropayments system which they expect to roll out as early as next year.
Ridding says the bigger question is determining what content is worth in the digital age.
Internet search giant proposes paid subscription model for online news content
What is Internet content worth in the digital age?
Google is making changes to the way it handles news content, in an apparent attempt to appease news providers who claim the Internet search giant is undermining their ability to charge subscribers.
In a blog post called "First Click Free," Google's senior business product manager Josh Cohen wrote:
"Previously, each click from a user would be treated as free. Now we've updated the program so that publishers can limit users to no more than five pages per day without registering or subscribing."
The surprise move comes after reports that News Corporation Chairman Rupert Murdoch is in discussions with Microsoft to deliver paid access to News Corporation content through rival search engine Bing.
John Ridding, the chief executive of Financial Times, an international newspaper based in Britain, welcomed the move. "I think for the industry as a whole, it's very interesting and potentially important because there are a lot of publishers who haven't yet developed paid-for models, who are looking at a cyclical and structural decline in advertising revenues," he said.
At a time when newspaper circulation is declining rapidly around the world, Financial Times Web site (FT) says its subscriptions are up 22 percent, while revenues have jumped 30 percent.
"I think for us, we've already developed a successful paid-for model, which is working very well for us," Ridding said. "And we're seeing very strong growth in subscriptions and subscription revenues."
FT's online readers can currently access up to 10 free stories per month before being prompted to subscribe. But Ridding says the paper is working on a micropayments system which they expect to roll out as early as next year.
Ridding says the bigger question is determining what content is worth in the digital age.
VOA: Obama Pledges to Put More Americans Back to Work
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In his weekly radio and Internet address, the U.S. president said Saturday he will 'focus every single day' on building the economy and getting people into productive jobs.
U.S. President Barack Obama (File)
U.S. President Barack Obama is pledging to do whatever he can to put more Americans back to work. The president says November's lower jobless rate is encouraging, but not good enough.
President Obama will speak on Tuesday about his plans for tackling the nation's 10 percent unemployment rate.
In his weekly radio and Internet address, Mr. Obama says the drop from October's 10.2 percent jobless rate is a positive trend, but he is not satisfied.
"But for those who were laid off last month and the millions of Americans who have lost their jobs in this recession, a good trend is not good enough. Trends do not buy the groceries. Trends do not pay the rent or a college tuition."
The president says the U.S. economy is in a very different place from early in 2009, when 700,000 jobs a month were being lost. In November, 11,000 jobs were lost.
Mr. Obama says his $787 billion stimulus plan prevented a possible collapse of the financial system or a potential second Great Depression. But he says history shows that hiring is often slow to follow an economic rebound.
"Even as the economy grows, it takes time for jobs to follow," he added. "But the folks who have been looking for work without any luck for months and, in some cases, years, cannot wait any longer. For them, I am determined to do everything I can to accelerate our progress so we are actually adding jobs again."
An administration official suggests that money originally set aside to buy the troubled assets of financial firms may be used for job creation.
White House officials also say Mr. Obama will go to Capitol Hill on Sunday to meet with Democratic lawmakers on efforts to advance health care reform, a key part of the president's economic plan. Senate Majority Leader Harry Reid is trying to form a compromise among Democrats about whether health reform legislation should include an option for government-run insurance.
Health care reform is also the topic of the Republican Party's weekly address. California U.S. Senate candidate Carly Fiorina, a breast cancer survivor, is criticizing a recent recommendation by the U.S. Preventive Services Task Force, a panel of health care experts. The group said most women under 50 do not need regular mammograms and that women over 50 should only get them every other year.
Fiorina says under Democratic health reform legislation, government panels would have too much influence on patients' health care.
"Do we really want government bureaucrats rather than doctors dictating how we prevent and treat something like breast cancer?" she asked.
President Obama has assured Americans that they can stay with their present health care providers, if they choose.
Saturday, December 5, 2009
VOA: World Cup Football Draw Held in Cape Town
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The 32-team draw for next year's football World Cup in South Africa was held Friday in Cape Town. The U.S. Soccer Team is pleased with the teams it will face in the first round.
The United States has had what were described as difficult draws for the past few World Cups, but no one is saying that this time.
While the U.S. Soccer team will open Group C play against England, which is ranked ninth in the world, it will then play Slovenia, ranked 33rd, and Algeria, ranked 28th. Both Slovania and Algeria needed to win playoffs to reach the World Cup finals. Algeria defeated Egypt and Slovenia beat Russia.
Of course the big focus will be on the Americans' opening match against England, and U.S. coach Bob Bradley had these comments for reporters in a telephone conference call from Cape Town. "Opening the World Cup with that type of game, a game that I think will just bring tremendous interest in the United States. It'll be special for our fans. The little that I've heard from our players, text messages (on his cell phone) and that kind of thing, you can really tell already that this is a match that has them very, very excited," he said.
Coach Bradley added that while Slovenia and Algeria are not big names, they have good teams.
With the match-up against England, U.S. star midfielder Landon Donovan is likely to face his superstar English teammate on Major League Soccer's Los Angeles Galaxy, David Beckham. "I don't know how many players from our league will actually be participating in the World Cup, so to play against one of them would be pretty special in its own right. And to play against your own teammate is obviously pretty incredible. And I don't know how many other opponents will be able to say that against each other. It'd be a lot of fun," he said.
The U.S. will open its World Cup campaign on June 12 against England in Rustenburg. The Americans will face Slovenia in Johannesburg on June 18 and play Algeria June 23 in Pretoria.
Americans pleased with teams it will face in first round of next year's competition
Photo: ASSOCIATED PRESS
Ceremony host Carol Manana is silhouetted during the 2010 World Cup draw in Cape Town, South Africa
The United States has had what were described as difficult draws for the past few World Cups, but no one is saying that this time.
While the U.S. Soccer team will open Group C play against England, which is ranked ninth in the world, it will then play Slovenia, ranked 33rd, and Algeria, ranked 28th. Both Slovania and Algeria needed to win playoffs to reach the World Cup finals. Algeria defeated Egypt and Slovenia beat Russia.
Of course the big focus will be on the Americans' opening match against England, and U.S. coach Bob Bradley had these comments for reporters in a telephone conference call from Cape Town. "Opening the World Cup with that type of game, a game that I think will just bring tremendous interest in the United States. It'll be special for our fans. The little that I've heard from our players, text messages (on his cell phone) and that kind of thing, you can really tell already that this is a match that has them very, very excited," he said.
Coach Bradley added that while Slovenia and Algeria are not big names, they have good teams.
With the match-up against England, U.S. star midfielder Landon Donovan is likely to face his superstar English teammate on Major League Soccer's Los Angeles Galaxy, David Beckham. "I don't know how many players from our league will actually be participating in the World Cup, so to play against one of them would be pretty special in its own right. And to play against your own teammate is obviously pretty incredible. And I don't know how many other opponents will be able to say that against each other. It'd be a lot of fun," he said.
The U.S. will open its World Cup campaign on June 12 against England in Rustenburg. The Americans will face Slovenia in Johannesburg on June 18 and play Algeria June 23 in Pretoria.
Thursday, December 3, 2009
Chesapeake Bay Restoration, One Stream at a Time
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Warwick Township has since doubled the size of its wetlands and lowered the water temperature so that it's cold enough for trout to thrive. Zimmerman says the initial goal was to remove Lititz Run from the State's impaired waters list. But now it's about much more. Warwick Township put a value on a clean local environment. Their commitment could inspire others in the watershed to protect their community's natural assets, now and for generations to come.
Volunteers, farmers and local government in Pennsylvania community work to clean up waterways.
Photo: Luba Irwin/ Warwick Township/Lititz Run Watershed
Lititz Run prior to restoration with eroded stream banks and few shade trees, an unwelcome habitat for trout
On a warm Sunday morning members from Lancaster Evangelical Free Church gather on the wooded banks of Lititz Run. Pastor Doug Winne stands knee-deep in the clear, slow-moving waters, conducting baptisms.
Gary Hoover
Margaret Thompson, age 10, is baptized in Lititz Run, across the street from Lancaster Evangelical Free ChurchThe spring-fed stream in Lancaster County, Pennsylvania, begins its journey in downtown Lititz and weaves under highways, across cow pastures and cornfields carrying polluted runoff from farms, sewage treatment plants, construction sites, driveways, parking lots, and streets to the Chesapeake Bay on America's eastern coast.
Lancaster County, Pennsylvania is growing, but so is pollution of its waterways
According to the Chesapeake Bay Foundation, Lancaster County waterways have some of the highest pollution levels in the entire watershed. Land is used intensively by farmers, manufacturers, tourists and the 500,000 residents who live in Lancaster County, which is the fastest growing county in the state.
Twelve years ago Lititz Run was in poor shape when a group of fishermen with the conservation group Trout Unlimited approached Warwick township manager Dan Zimmerman. Zimmerman's jurisdiction includes Lititz Run. Back then, he says, Lititz Run had only a few scattered Sycamore trees, "There was no protection from the sun. You had erosion of the stream bank. You had the sewage treatment plant discharging into it."
Local fisherman and commercial developers dive in to help clean stream project
VOA - R. Skirble
Erosion control and plantings shade Lititz Run, allowing for deeper pools of cool waterThe fishermen wanted their trout stream back. Zimmerman was faced with a triple challenge: manage growth, keep farms productive and protect the environment. He says Lititz Run became the focal point for that effort. "We put in a wetlands to treat storm water off the road. We shrank the width of this stream from 50 feet [15.2 meters] to its width about 15 feet [4.5 meters]," Zimmerman says.
Volunteers built a trail system, farmers put conservation plans in place, and township headquarters became a center for residents to learn how to curb runoff from their lawns, driveways and streets. Builders saw the projects as a way to promote business, so they installed grass buffers and porous pavement to absorb rainwater. "I have a lot of developers that exceed the requirements not because we force them, but because they see the whole big picture and want to become part of that and use it as a market tool," Zimmerman says.
Luba Irwin/Warwick Township/Lititz Run Watershed
Watershed Awareness Day gives children hands-on environmental experience outside the classroomWarwick Township has since doubled the size of its wetlands and lowered the water temperature so that it's cold enough for trout to thrive. Zimmerman says the initial goal was to remove Lititz Run from the State's impaired waters list. But now it's about much more. Warwick Township put a value on a clean local environment. Their commitment could inspire others in the watershed to protect their community's natural assets, now and for generations to come.
Tuesday, November 24, 2009
Bullish US Economic News Boosts World Markets
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The beleaguered U.S. housing market got a boost last month as Americans rushed to purchase homes ahead of an anticipated end to government subsidies for first-time buyers. U.S. home sales rose just over 10 percent in October to an annual rate of 6.1 million units, the highest level in more than two years.
Walter Maloney is a spokesman for the National Association of Realtors, which reported the sales figure.
"If you just look at single-family sales, it [the October total] is the biggest monthly increase since January of 1983,said Walter Maloney.
In addition to government incentives, which Congress recently extended, home buyers have been enticed by continued low interest rates and depressed housing prices. The median sales price last month stood at $173,000, down more than 7 percent from a year ago. Despite the recent uptick in demand for homes, housing prices are expected to remain in check due to stubbornly high foreclosure rates in the United States.
Economists say one key to reducing foreclosures is an improvement in America's labor market. U.S. unemployment stands at 10.2 percent, the highest level in more than 25 years. Joblessness has continued to rise even though the U.S. economy expanded at a better-than-expected 3.5 percent annual rate in the third quarter of the year.
Monday, a private research group predicted U.S. employment gains beginning in the first half of 2010, fueled by economic growth of 3.2 percent for the entire year.
Lynn Reaser heads the National Association for Business Economics, which issued the projections.
"We are looking for [predicting] a pretty good, solid [economic] upturn," said Lynn Reaser. "We believe by the second quarter [of 2010] we will see positive job growth. And while we have been losing jobs on the order of about 200,000 per month recently, by the end of next year we will be adding jobs on that order of about 200,000 per month."
But others see the recovery as fragile and tentative. David Weiss is chief economist at Standard and Poor's.
"If we get a major [oil] shock from the Middle East, for example, we could easily move back into recession next year," said David Weiss. "Six months ago, people were convinced that we were heading off a bottomless cliff [plunging into economic catastrophe]. Now we are at the bottom and starting to come back up. But it takes a lot longer to climb out of a hole than it takes to fall into one."
The consensus view among economists is that the U.S. recovery will be slower and weaker than those of developing nations, and that America's long term economic outlook is clouded by massive debt that continues to grow.
U.S. home sales rose just over 10 percent in October to an annual rate of 6.1 million units, the highest level in more than two years.
World markets rallied sharply Monday amid positive U.S. economic data and an upbeat projection for U.S. economic expansion.The beleaguered U.S. housing market got a boost last month as Americans rushed to purchase homes ahead of an anticipated end to government subsidies for first-time buyers. U.S. home sales rose just over 10 percent in October to an annual rate of 6.1 million units, the highest level in more than two years.
Walter Maloney is a spokesman for the National Association of Realtors, which reported the sales figure.
"If you just look at single-family sales, it [the October total] is the biggest monthly increase since January of 1983,said Walter Maloney.
In addition to government incentives, which Congress recently extended, home buyers have been enticed by continued low interest rates and depressed housing prices. The median sales price last month stood at $173,000, down more than 7 percent from a year ago. Despite the recent uptick in demand for homes, housing prices are expected to remain in check due to stubbornly high foreclosure rates in the United States.
Economists say one key to reducing foreclosures is an improvement in America's labor market. U.S. unemployment stands at 10.2 percent, the highest level in more than 25 years. Joblessness has continued to rise even though the U.S. economy expanded at a better-than-expected 3.5 percent annual rate in the third quarter of the year.
Monday, a private research group predicted U.S. employment gains beginning in the first half of 2010, fueled by economic growth of 3.2 percent for the entire year.
Lynn Reaser heads the National Association for Business Economics, which issued the projections.
"We are looking for [predicting] a pretty good, solid [economic] upturn," said Lynn Reaser. "We believe by the second quarter [of 2010] we will see positive job growth. And while we have been losing jobs on the order of about 200,000 per month recently, by the end of next year we will be adding jobs on that order of about 200,000 per month."
But others see the recovery as fragile and tentative. David Weiss is chief economist at Standard and Poor's.
"If we get a major [oil] shock from the Middle East, for example, we could easily move back into recession next year," said David Weiss. "Six months ago, people were convinced that we were heading off a bottomless cliff [plunging into economic catastrophe]. Now we are at the bottom and starting to come back up. But it takes a lot longer to climb out of a hole than it takes to fall into one."
The consensus view among economists is that the U.S. recovery will be slower and weaker than those of developing nations, and that America's long term economic outlook is clouded by massive debt that continues to grow.
Tuesday, November 3, 2009
Merkel Addresses US Congress on Berlin Wall Anniversary
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German Chancellor Angela Merkel, in Washington to mark the 20th anniversary of the fall of the Berlin Wall, is speaking later Tuesday to a joint meeting of both houses of the U.S. Congress.
She will be the first German leader to address the House or Senate since Konrad Adenauer in 1957.
Ms. Merkel says the chance to speak to the American lawmakers is a great honor and an opportunity to thank the United States for its support for German unification after the wall came down on November 9 in 1989.
The chancellor also will meet with President Barack Obama at the White House Tuesday. Their talks are expected to include the war in Afghanistan, Iran's nuclear program, economic issues and global warming.
Ms. Merkel is in the United States for the first time since she was re-elected to lead Germany's government in September.
The United States wants Germany and other NATO partners to make a bigger contribution to the war in Afghanistan and support tougher sanctions against Iran.
Germany would like to see the United States make deeper cuts in greenhouse-gas emissions, which many scientists say cause global warming.
Some information for this report was provided by AFP and Reuters.
| 03 November 2009 |
 |
| Germnay Chancellor Angela Merkel (File) |
She will be the first German leader to address the House or Senate since Konrad Adenauer in 1957.
Ms. Merkel says the chance to speak to the American lawmakers is a great honor and an opportunity to thank the United States for its support for German unification after the wall came down on November 9 in 1989.
The chancellor also will meet with President Barack Obama at the White House Tuesday. Their talks are expected to include the war in Afghanistan, Iran's nuclear program, economic issues and global warming.
Ms. Merkel is in the United States for the first time since she was re-elected to lead Germany's government in September.
The United States wants Germany and other NATO partners to make a bigger contribution to the war in Afghanistan and support tougher sanctions against Iran.
Germany would like to see the United States make deeper cuts in greenhouse-gas emissions, which many scientists say cause global warming.
Some information for this report was provided by AFP and Reuters.
Thursday, October 29, 2009
US Economy Grows for First Time in More Than a Year
Thank you for your time with my blogs and welcome back in the near future.
Bowman report - Download (MP3) 
Bowman report - Listen (MP3)
Economists, like Kathleen Stephansen at Connecticut-based Aladdin Capital Holdings, hailed the news.
"Indeed, the recovery is in place. This is a good start," she said. "It is a little bit stronger than what the consensus [expectation] was."
Stephansen was speaking on Bloomberg television.
Fueling the economic growth were jumps in spending on large manufactured goods and housing. Both of those categories benefited from significant government subsidies for the purchase of fuel-efficient vehicles and homes. But the so-called "Cash for Clunkers" automobile subsidy has ended, and the first-time home buyer tax credit is expiring. That has Kathleen Stephansen apprehensive about U.S. economic performance going forward.
"A lot of this consumer spending increase is thanks to government support. Seventy percent of this economy is still [driven by] the consumer," she said. "The consumer is still in a balance sheet repair-mode [favoring debt reduction over purchases]. And that means that he or she will be careful in spending, and wage income is not growing very fast. So, we still have major headwinds [challenges] here for the consumer, and that worries me."
Adding to the challenges going forward is the U.S. unemployment rate, which stands at 9.8 percent and is expected to go even higher in coming months despite the economy's return to positive growth.
The Labor Department reports 530,000 newly-laid off Americans filed for unemployment benefits last week, a slight dip from the previous week but still more than many economists had expected. On the other hand, the total number of continuing claims stood at 5.8 million, down by nearly 150,000 from a week ago.
Analysts say stubbornly-high unemployment will constrain U.S. economic expansion for the foreseeable future.
| Washington 29 October 2009 |
Bowman report - Listen (MP3)
Economists, like Kathleen Stephansen at Connecticut-based Aladdin Capital Holdings, hailed the news.
"Indeed, the recovery is in place. This is a good start," she said. "It is a little bit stronger than what the consensus [expectation] was."
Stephansen was speaking on Bloomberg television.
Fueling the economic growth were jumps in spending on large manufactured goods and housing. Both of those categories benefited from significant government subsidies for the purchase of fuel-efficient vehicles and homes. But the so-called "Cash for Clunkers" automobile subsidy has ended, and the first-time home buyer tax credit is expiring. That has Kathleen Stephansen apprehensive about U.S. economic performance going forward.
"A lot of this consumer spending increase is thanks to government support. Seventy percent of this economy is still [driven by] the consumer," she said. "The consumer is still in a balance sheet repair-mode [favoring debt reduction over purchases]. And that means that he or she will be careful in spending, and wage income is not growing very fast. So, we still have major headwinds [challenges] here for the consumer, and that worries me."
Adding to the challenges going forward is the U.S. unemployment rate, which stands at 9.8 percent and is expected to go even higher in coming months despite the economy's return to positive growth.
The Labor Department reports 530,000 newly-laid off Americans filed for unemployment benefits last week, a slight dip from the previous week but still more than many economists had expected. On the other hand, the total number of continuing claims stood at 5.8 million, down by nearly 150,000 from a week ago.
Analysts say stubbornly-high unemployment will constrain U.S. economic expansion for the foreseeable future.
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