See if you can guess what economy produced the following year over year changes: GDP growth rate +56% Personal Income +4.35% Savings Rate +23.91% Fixed Investment +5.37% Steel Output +10.32% Business Sales +8.86% Durable Goods Sales +12.2% Factory Shipments +7.21% Retail Store Sales +7.31% Factory Orders +17.18% Exports +12.58% You wouldn’t know it from all .. read more
The Fibonacci retracements show where to expect resistance for the US dollar index which has broken the short term downtrend.
GM sold shares to the public last week some of which were previously owned by….the public. Anyone lucky or well connected enough to be allocated shares in the IPO was able to book a near 10% profit almost immediately while the less fortunate previous owners – that would be you and me – took a .. read more
Some really good stuff from Richard Fisher at the Dallas Fed in a speech in San Antonio last week. On what he reported to the other members at the FOMC meeting (emphasis mine): The essence of what I reported to my colleagues when we met last week is that more things are moving in the .. read more
Quantitative easing explained using Xtranormal:
Paul Krugman responds to the Ben Bernanke letter in the previous post with “Liquidationists of the World, Unite!”: OK, so now it’s official: conservatives aren’t just against any effort to boost demand with fiscal policy, they don’t want the Fed doing anything positive, either. This open letter to Ben Bernanke is a remarkable document, not .. read more
From the WSJ Real Time Economics Blog: The following is the text of an open letter to Federal Reserve Chairman Ben Bernanke signed by several economists, along with investors and political strategists, most of them close to Republicans: We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued. .. read more