Hard hitting global and local news
Read More: Will Ben Carson’s Admitted Lie Regarding a West Point Scholarship Mark the End of His Presidential Campaign?
For discussion of income distribution, please see What’s "Really" Behind Gross Inequalities In Income Distribution? Birth Death Model Starting January 2014, I dropped the Birth/Death Model charts from this report.
Continue Reading: Eurozone Target2 Imbalances Creeping Back Up
As a guest post, here is the opinion of IMD Professor Carlos A. Primo Braga on on the economic, political and psychological drivers of Brazil’s currency slide.
3rd Quarter Advance GDP Estimate +1.5%; December Hike Odds Up to 46.5% The third quarter advance (initial) GDP estimate came in at 1.5% a bit under the Econoday Consensus of 1.7%, a bit over the Atlanta Fed GDPNow Forecast of 1.1%, and well below the Blue Chip consensus of 2.1%.
Crain’s Chicago Business reports Emanuel Gets His Huge Property Tax Hike . The City Council has approved Mayor Emanuel’s bad-news city budget, including plans for a record $543 million city property tax hike over the next four years
See the article here: Third Party Logistics: Will Amazon Disrupt UPS and Uber or Will Uber Disrupt Amazon, FedEx, and…
Existing Home Sales Up 4.7% Following Last Month’s 5% Decline; Home Price Weakness Existing home sales bounced this month, coming in just above the high end of Econoday Economists’ Estimates . Existing home sales bounced back very strongly in September, up 4.7 percent to nearly reverse the prior month’s revised decline of 5.0 percent, a decline that now looks like an outlier. The month’s annual sales rate, at 5.55 million, is just beyond Econoday’s top-end forecast and the second best reading of the recovery.
One relative bright spot is Amazon Hiring More than Penney’s, Walmart Combined . Leaving one widely watched holiday hiring forecast in the dust, Amazon (AMZN) said Tuesday that it will add 25 percent more seasonal workers this year, outpacing many of its bricks-and-mortar competitors who plan to keep hiring flat.