Professor Elam

Here are a couple of articles to check out. First is The Real Cost of Offshoring in B/W.  Seems that the nubmers for GDP are not being counted right.  Next is a story I cannot relocate on finance.yahoo but the upshot is, M-1 the ready supply of money is declining.  The theory of M-1 and how ready money drives the economy got Milton Friedman the Nobel Prize back in  the 1970s and put the Univeristy of Chicago on the map so to speak.  The idea is that if money supply is exapnding, everyone has more of it, gee.  And if money supply is contracting, gee, things are not going well. 

The rise in interest rates is real.  Yes rates backed off today but I suspect that this rise is for real and will eventually draw money away from the stock market.