May 6, 2013
If the Shoe Fits, Don’t Wear it; Instead Buy Two, Return One
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Hard hitting global and local news
Hard hitting global and local news
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See original article: China Services PMI Slows to Marginal Rate of Growth
More: Obamacare Affects Part-Time Employment Yet Again; Nullification Bill Passes South Carolina House; Analysis of Healthcare Penalty Rates
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Read the original post: S&P Predicts 20% Drop in Spain’s Housing Prices Over Next 4 Years; Bad Bank to Dump…
More: April 2013 Manufacturing ISM at a Glance; What do the Numbers Mean?
Guru’s blog in Spanish highlights the dramatic retail spending situation in Spain. Here is a Mish-modified translation. Last month I discussed the retail drama in Spain
The Financial Times reports Greens and SPD close ranks in battle against Angela Merkel . Germany’s main centre-left opposition parties closed ranks over the weekend in their uphill battle against Angela Merkel, with the Greens signalling a decisive shift to the left. During a three-day party congress in Berlin five months before national elections, the Greens positioned themselves to the left of the Social Democrats (SPD) with calls for higher income tax and a property levy on the rich
Spain’s Unemployment Rate Rises Full Percentage Point to Record 27.2%; Unemployment Tops 6.2 Million Spain’s budget deficits are out of control, home prices are still falling, GDP is down 2% annualized in the first quarter , production is down, the unemployment rate soared a full percentage point to 27.16%, and a record 6.2 million are out of work. Here are some stats from Spain’s National Statistics Office as noted in the Financial Times . Almost 240,000 people lost their jobs in the first three months of the year.