Hard hitting global and local news
Continue Reading: Small Business Owners’ Hiring Intent Plunges to 2008 Lows; Don’t Blame Sandy or Fiscal Cliff
Read the original post: Geithner Says Obama Willing To Go Over Fiscal Cliff: Game Theory Bluff Or Reality?
Read the article: ECB Leaves Rates Unchanged, Significantly Downgrades 2013 Economic Forecast; Is Italy Falling Into the Abyss?
Anyone believing those myths needs to consider Euro Countries (and the IMF) Can Learn from Latvia’s Economic Success . In 2008–09, Latvia lost 24 percent of its GDP.
View the original here: Charts of the Day: Consumer Debt Components Since 2003 and Since the Start of the 2007…
Read the article: US Fiscal Cliff Blame Game Between Geithner, Boehner; UK Deficit Cut Taking Longer Than Planned
Sales fall for thirteenth month running in November German sales remain flat while Italy records another severe fall Rate of decline in France slows to weakest in five months Summary of November findings The Eurozone retail sector remained stuck in a sharp downturn during the penultimate month of 2012, according to Markit’s PMI® data. Sales fell for the thirteenth consecutive month, and remained well below the level seen one year earlier.
Output and new orders both continue to decline Capital goods producers register sharpest falls in production and sales Inventories and employment cut amid subdued economic outlook Summary: Operating conditions in the Japanese manufacturing sector continued to worsen in November. The deterioration was driven by falls in output, new orders and employment as the economic climate remained difficult. Amid an uncertain outlook, manufacturers also cut inventory levels and lowered purchasing activity.