The Federal Government borrowed and spent $5.1 trillion to get $700 billion in total GDP "growth" from 2008-2011. In constant dollars, there was no growth at all.
Recently, I read a book titled The Good Soldiers that also serves as an object lesson in the disconnect between what’s going on in Washington D.C. and reality. It was written by David Finkel, a Pulitzer-winning author, and it came to me via a friend who is going through a stage where she feels drawn to books about war, mostly about World War II.
The Latest Conference Board Consumer Confidence Index was released this morning based on data collected through May 18th. The 60.8 reading is significantly lower than the consensus estimate of 66.3, reported by Briefing.com, and a sharp decline from the the April slight upward revision to 66.0 (from 65.4). It is the lowest reading since December 2010.
The Organization for Economic Co-operation and Development (OECD) is apparently worried about accelerating inflation and is now in favor of raising interest rates. Nobel laureate economist Paul Krugman hates this idea and argues for its opposite...
The following is a partial transcript of Jim's interview with Kirk Sorensen, a former NASA scientist and current advocate for the use of thorium in meeting America's energy needs. In it, he tells the story of why uranium was originally chosen over thorium and how both China and India are already leading the way in this new technology
Typically there are a few major inflection points in the year where assets either switch gears and reverse their prior trends or undergo an acceleration of their current trend. One of the key themes that have often marked these inflection points over the last few years is the general trend of the USD. At present the USD is at yet another major inflection point and what it does from here will have direct implications for not only asset allocation (bonds, stocks, commodities, currencies) but also sector allocation (cyclicals, non-cyclicals).
Over the past few weeks, we have spent a lot of time digging into the macro data pertaining to the world’s developed economies. After careful analysis, our research has convinced us that quantitative easing (money creation out of thin air) will not end anytime soon.
The only thing that could prevent another oil shock from happening before the end of 2012 would be another major economic contraction
The Weekly Leading Index (WLI) of the Economic Cycle Research Institute (ECRI) declined to 5.0 from last week's 5.3. This is the fifth consecutive week of decline from the 11-month interim high of 7.8 for the week ending on April 15.
The second estimate for Q1 GDP came in at 1.8 percent — unchanged from last month's Advance Estimate. The number was precisely as forecast by Briefing.com but below the consensus expectation, which ranged from 2.0 to 2.2...