Doug Hornig's picture

We're going broke. This is not news. Anyone who has looked at the country's fiscal mess with a minimum of objectivity has known this for years.

Doug Short's picture

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 but below the consensus expectation, which ranged from 2.0 to 2.2...

Gonzalo Lira's picture

First off, farmlands produce agricultural commodities—which in an inflationary scenario would rise drastically in price. Thus one would think that owning farmland would be akin to owning a gold mine: A sure-fire hedge against inflation.

Jeff Rubin's picture

Why has Global Sticks, a manufacturer of wooden ice cream sticks, moving from Dalian, China to Thunder Bay, Ontario?

John Rubino's picture

The action has fizzled. Home prices and sales stabilized, and housing seemed destined to bump along for a while, playing little or no role in the burgeoning government bond bubble.

Bruce Krasting's picture

I can think of a half dozen areas in Fan’s and Fred’s checkered past that should be exposed and made public. There is no way anything over at F/F should remain hidden. There is one area of inquiry that I think should be correctly viewed in the history books. Allow me a explain.

Jim Willie's picture

It is not clear whether the American financial community has the ability to observe and conclude that the US Federal Reserve is adrift and relies upon deception as policy in revealing its directions. Its position is to hold steady, inflate to oblivion, support financial markets in heavy volume secretly, and lie about leaving its trapped policy corner. 

Prieur du Plessis's picture

Since a high of 3,056 in mid-April, the Shanghai Composite Index has shed 10.3% to close at 2,741 this morning. I have shied away from Chinese equities, but this hammering prompted me to reconsider the situation.

Michael Pettis's picture

Quite a lot of data came in last week as I was recovering from the jet lag generated by last week’s trip to the US, and for good measure, the PBoC then raised minimum reserve requirements Thursday evening.  I discuss the numbers extensively in my newsletter, and of course there has been a lot of discussion in the press, but for this blog entry I want to discuss once again (and perhaps for the last time) the subject of copper imports. 

Dock Treece's picture

Though economy does not appear to be poised for a total collapse, new numbers are increasingly bearish, and investor sentiment is dwindling.