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Read the article: Japanese Exports Sink 3rd Month; Flash China Manufacturing PMI Shows Output down at Sharpest Rate in Ten…
More here: Government Debt Held by Spanish Banks Doubles in Seven Months; Deleverage? What Deleverage?
View article: Reflections on Social Media and Demographics
More: Infinite QE; Central Bank Balance Sheets as Percent of Nominal GDP; Euro Demand Deposits; Break-Even Inflation Trends
Very complex and sometimes contradictory laws High level of corruption within public administration and politics Article 18, a section of the Workers Statute makes layoffs for economic reasons very, very difficult and it is applicable to companies that have 15 or more employees. This is a major reason why Italian companies have so few employees. The other one is that Italian company are mainly family run
Panic! In my previous post Desperation Bazooka Tactics; Gold Soars Following Huge Headfake , I mentioned " This seems like desperation bazooka tactics.
For further discussion, please see Target2 and the ELA (Emergency Liquidity Assistance) program; Reader From Europe Asks "Can You Please Explain Target2?" Moreover, the recently hatched OMT plan of Mario Draghi in and of itself has potential unlimited liability in that it allows unlimited purchases of sovereign bonds for which Germany and other countries are responsible for their share of the pie in accordance with percentages noted in the above link. Finally, please note that 37,000 people signed a petition against this deal, and polls show it likely would not have passed if put to a vote.
Read more here: Plenty of Jobs if You are "King of the Road"
Activity falls at weakest rate in four months Drop in new orders sharpest since February Staffing numbers reduced as sentiment hits eight-month low Summary: The downturn in Germany’s construction sector continued in August. Despite an accelerated decrease in incoming new orders, the total level of activity fell at a slower rate.
More: New York State Employment Situation in Graph Form