Leading Economic Indicators; Dilemmas of the 1 Percent

• Despite all that has transpired in Ukraine this year, the country's defense industry manufacturers continue to sell military gear to Russia (including "key parts for ship engines, advanced targeting technology for tanks and upkeep for Russia's heaviest nuclear missiles," according to an August Washington Post dispatch). The Ukrainian government may be hostile to Russia, but workers at companies such as Motor Sich fear loss of jobs in an already deep recession. Said a Motor Sich spokesman, "We have our own (political) party, the party of Motor Sich." [Washington Post, 8-15-2014]

• In July, New York City approved construction of a 33-story condominium/apartment tower housing both luxury units (219, facing the Hudson River) and "affordable" units (55, facing the street) -- with separate entrances so the beautiful people could avoid the more downscale. (The developer, Extell, said it deserves credit for carving out the "affordable" units because the luxury units are more profitable.) [New York Post, 7-20-2014]

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