RJ and Makay

Citigroup economist Willem Buiter is calling it: By 2020, less than nine years from now, the U.S. economy will slip from #1 in the world to #2. By 2050, it'll be #3.

"China should overtake the U.S. to become the largest economy in the world by 2020, then be overtaken by India by 2050," Buiter predicts. Nevertheless, his global economic projections suggest that generally good times are ahead.

Citigroup, the third largest U.S. bank by assets, is having about 650 call-center employees in Albuquerque, New Mexico work from home as a cost-cutting measure. As part of the bank's Home Office Program, these workers were told on February 16 that their jobs are transitioning to at-home positions with no change in salary, relates Citigroup spokesperson Janis Tarter.

And what of the building where these employees work? The plan is to sell it by the middle of August, according to Tarter. “We reached this decision as part of an ongoing evaluation to find ways to increase the efficiency and cost-effectiveness of our consumer-banking operations while giving employees flexible work options,” she explains.