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 international financial crisis has hit eastern Europe harder than previously expected, according to a press report. At...

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...