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Last year at this time I posted “The Economy’s Four Horsemen,” which described macro cause and effect leading into and out of recessions. When looking at income, spending, output and employment, it is income which is the steer variable going...
I found the recent consumer credit data unsatisfying because the data seemed to point in two directions. The seasonally-adjusted data showed a large $12 billion decrease in consumer credit which received headlines. Meanwhile, the non-seasonally...
In the just finished second quarter of 2009, the UK economy was contracting a massive 5.6% from the year ago period. This is the worst performance since records began in 1955. What’s more, the data surprised to the downside, with the quarter-on-q...
The labor market in the United States lost 467,00 jobs in June. But this was just the headline number as unemployment rose to 9.5%. Unfortunately, the deep dive shows a situation that mirrors...
Andy Xie thinks the Fed is on an inflationary path. Last month, he wrote an article in Caijing which says that ‘stagflation lite’ is the Federal Reserve’s preferred outcome. What’s interesting is his recent article about the need for China and...
This comes from the Guardian (hat tip Lee):
The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming...
Financial Armageddon: In-Your-Face Influence Peddling
FT.com – Not all bubbles present a risk to the economy (Blinkered Fed thinking on asset bubbles. Reminiscent of the Greenspan era.)
Fitch Says U.K. Rating Most at Risk Among Top-Rated –...
Columbia University Professor and former Federal Reserve official Frederic Mishkin wrote a much-discussed Op-Ed in the Financial Times yesterday. In it, he asks
Are potential asset-price bubbles always dangerous?
He answers this question with a no,...
I am feeling fairly ill so posting will be light today. Hopefully, I will back in shape tomorrow.
VIDEO: Former Brit Ambassador Craig Murray Says UK and USA Sent Prisoners to Uzbekistan for Torture Part 1 Patrick J. Buchanan
Chilling. Must-see...
Really thought-provoking and comprehensive reviews of what's important in the financial world. Nothing's perfect but this blog comes as close as any is likely to get.
