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Continue reading here: Consumer Confidence Plunges Below Any Economist’s Estimate; Consumers Shock Economists
Industrial Production, Down 5th Month, Weaker Than Economist Expectations Industrial production came in at -0.3%, down for the fifth consecutive month below the Bloomberg Consensus Estimate . Industrial production is stalling, down 0.3 percent in April for a 5th straight monthly contraction. Factories are cutting back with capacity utilization down 4 tenths to 78.2 percent
CNN would report in an article titled, " France tells U.S. Paris suspect trained with al Qaeda in Yemen ," that: Western intelligence officials are scrambling to learn more about possible travel of the two Paris terror attack suspects, brothers Said and Cherif Kouachi, with new information suggesting one of the brothers recently spent time in Yemen associating with al Qaeda in that country, U.S. officials briefed on the matter told CNN.
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Continue Reading: Greece Empties IMF Reserve Account to Pay IMF; Liquidity "Terribly Urgent" Says Finance Minister
Household Spending Growth Expectations Plunge; Recession Already Started?
Merkel’s Own Party Ready to Give Up on Greece; Another Week of Deadlines; Reflections on Can Kicking German Chancellor Angela Merkel is increasingly isolated in her stance on Greece. Growing Pressure From Within the ranks of her own party bloc to give up on Greece for the sake of the euro. Members of Merkel’s Christian Democratic bloc are openly challenging her stance of keeping Europe’s most-indebted country in the 19-nation currency region.
A May 5 Chicago Tribune editorial viewpoint said the same thing: Pass a Bankruptcy Law, Give Taxpayers a Chance . Many people view bankruptcy as a "nuclear option" for local governments in Illinois — a bad choice that will only bring disaster. Actually, if we do it the right way, it may be the best path for averting true financial devastation in communities statewide.
A May 5 Chicago Tribune editorial viewpoint said the same thing: Pass a Bankruptcy Law, Give Taxpayers a Chance . Many people view bankruptcy as a "nuclear option" for local governments in Illinois — a bad choice that will only bring disaster. Actually, if we do it the right way, it may be the best path for averting true financial devastation in communities statewide.