Hard hitting global and local news
As for wages, they are actually rising not only in the US, but also in Europe as I pointed out in European Service Prices Plunge at Steepest Rate Since January 2010; Reflections on Keynesian Stupidity . In the US, the Fed did stave off for now, another round of price deflation
Continue reading here: Hong Kong’s Umbrellas are ‘Made in USA’
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Flash Germany Composite Output Index at 54.3 (54.1 in September), 3-month high. Flash Germany Services Activity Index at 54.8 (55.7 in September), 4-month low. Flash Germany Manufacturing PMI at 51.8 (49.9 in September), 3-month high
Late Payments by Ibex Companies Hits €47 Billion, 169 Days (3 Times Legal Time Limit); Ibex vs. DOW Lack of significant improvement in payments by IBEX companies to suppliers is yet another another sign there isn’t much of a recovery in Spain
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Read the original: Saxo Bank CIO Jakobsen Predicts Another "Shock Drop" in Markets; Addicted to Cheap Money
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