Steelers lose, city too depressed to host G20.......
Speaking of the G20. Bram describes the G20 watch: It feels like watching a hurricane develop off Bermuda. It's more like seeing signs of a hurricane long before the era of weather satellites. Nobody even has a clue how big a storm is out there. Squall, nor'easter or cat 5 cyclone? No idea. Can't begin to guess where the dangerous semicircle is.
and so the week begins. What will we all be saying Saturday morning? Will be asking ourselves what just happened to us? or what all the fuss was for?
and the Financial Times feeds the beast today... not sure why this is not showing up in my news filter there on the right. But: Obama's exemplar: from depressed steel town to diversified economy. It is on an inside page (p. A9), but it does have this odd shading for the whole article setting it apart from other stories. Don't want anyone to think the Pittsburgh story is like other mundane stories?? I am a bit curious how that story gets filed online under "FT Home > Companies > Industrials > Automobiles".
There is another FT piece there as well today on the steel industry full of good/bad messages: Mittal puts shine on steel outlook. It says there are positive signs in steel, but also is clear that: "The size of the year-on-year decline in steel demand in 2009 will almost certaily be the biggest since the second world war". That exactly is the context for my quote in the Pittsburgh-themed FT piece today. Steel is hurting more than in the 1980's and if we were still the steel region we once were the local economy would be worse than it was back then...which was pretty awful by most any definition. Also that steel article lists the top 10 steel producers in the world. US Steel makes the list... at #10 it looks like, so barely. Also kind of a mixed message I suppose.
and just in passing... big UPMC ad in the FT today FWIW.