What passes for business reporting in the United States is too often a series of breathless reports about the stock market. When the Dow rises precipitously, as it did today (Wednesday), the business press predicts an end to the Great Recession. When the stock market plummets, as it did last week, the Great Recession is said to be worsening.

Pay

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Europe EconoMonitor

What Lies Beneath Turkey’s Stellar Tourism Statistics?

Emre Deliveli September 2, 2010

Ertuğrul Günay, Minister of Culture and Tourism, likes to boast about Turkey’s impressive tourism statistics.

After all, it is hard to argue with numbers. According to data from the World Tourism Organization, while the total number of global tourists declined 4.3 percent last year, Turkey managed to secure a 3.3-percent rise. In fact, Turkey was the only G-20 country that was able to increase its incoming tourists in 2009.

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US EconoMonitor

No Clothes

Tim Duy September 1, 2010

Unless every able American pitches in, Congress and I cannot do the job. Winning our fight against inflation and waste involves total mobilization of America's greatest resources—the brains, the skills, and the willpower of the American people.

"Whip Inflation Now" Speech (October 8, 1974) President Gerald Rudolph Ford

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US EconoMonitor

What Makes America Great: Layoffs!

Barry Ritholtz September 1, 2010

I am watching Squawk Box around 6:30am as I get dressed this morning. The conversation turns to various incentives in Germany, where firms are actually paid not to lay people off in a downturn. (Firms cut hours, but keep most of their staff). The lower German unemployment rate of 7% has less people with financial hardship, so the public continues to work, spend, save, invest, engage in all manner of economic activity.

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MENA Focus: Fearing a Food Crisis

Ayah El Said, Maya Rusinowicz and Rachel Ziemba Aug 18, 2010

“MENA countries have been among the greatest beneficiaries of the Russian bumper crops of recent years. Egypt alone absorbed 25% of Russia’s 2008 grain exports. However, these importers of Russian wheat are seeking alternative grain supplies from the U.S. ”

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MENA Focus: Fearing a Food Crisis