May 21

China Manufacturing PMI Contracts Third Month, Output Index

The slowdown in China continues as the HBSC Flash PMI shows Output contracts at strongest rate in just over a…

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May 20

LA to Gradually Hike Minimum Wage to $15

In yet another triumph of stupidity over common sense, a triumph that is sure to cost jobs, slow growth, and…

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May 19

Another Perspective on Today’s Strong Housing Numbers Read

Following today's better than expected housing numbers (See Housing Starts and Permits Surge Most in Seven Years) Doug Short at…

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May 18

Why Are Economists’ Predictions So Damn Awful?

Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists’ Forecast:…

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May 17

Obama’s Push to Expand Credit to “Credit Invisibles”

A recently released government study by the Consumer Financial Protection Bureau on "Credit Invisibles" has some interesting facts on people…

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May 15

Consumer Confidence Plunges Below Any Economist’s Estimate; Consumers

Consumer confidence is the third miss by economists in a single day. Please consider the Bloomberg Consensus Estimate for Consumer…

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May 14

Producer Prices, Import/Export Prices Decline Again; Still Think

The Fed is struggling like mad to produce inflation, with little success on some fronts. Of course the Fed ignores…

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May 13

Dismal Retail Sales Numbers Suggest Recession Likely Underway:

Economists were surprised by the dismal retail sales report this morning. That's not surprising because economists are nearly always surprised. The…

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May 12

Moody’s Cuts Chicago Bond Rating to Junk; City

The shockingly bad fiscal health of Chicago just got a lot worse. Not only were Chicago Teachers "Insulted by a…

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May 12

Household Spending Growth Expectations Plunge; Recession Already Started?

Every month the Fed does a Survey of Consumer Expectations for inflation, earnings growth, income growth, and consumer spending growth. In…

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May 11

Inane Analysis on “Who Benefits from a Higher

Without any analysis or comment, Barry Ritholtz posted EPI propaganda on "Who Benefits from a Higher Minimum Wage".   Barry, if you…

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May 10

What Remains of the UK Middle?

In regards to the UK election, a friend recently commented something along the lines of "this is a victory for…

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May 9

Atlanta Fed “Keeps Faith in Strong Recovery”

Eyes on the Consumer The Atlanta Fed Macrobblog has All Eyes on the Consumer. It appears that the first quarter may have…

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May 8

Establishment +233K Jobs; Household +192K Employment, Part-Time Employment

Initial Reaction Today we see a snap back from last month's report on both establishment jobs and household survey employment.…

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May 7

UK Election Shocker: Exit Polls Show Cameron’s Tories

An exit poll shocker shows Cameron's Tories Do Far Better Than Expected.   Heading into the election, the Guardian made this projection: Conservatives…

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May 6

Productivity Dives, Wages Rise; Inflation Theory vs. Practice;

Today's BLS release on Productivity and Costs shows a back-to-back decline in productivity accompanied with rising wages. Productivity is up…

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May 5

First Quarter GDP Likely Negative as Trade Deficit

On April 29 in Real Q1 GDP 0.2% vs. Consensus 1.0%; Disaster in the Details I commented "The second estimate…

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May 4

Robots About to Take Away 18 Million German

I have seen many grim predictions regarding robots taking away human jobs, but one of the most dire predictions comes…

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May 3

French Unemployment At New Record Highs: Whom Do

While ECB president Mario Draghi brags his economic policy of negative interest rates is working, I ask for whom? On April…

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