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Link: What’s Next for Italy? No Working Government for 7 Months, Then Elections in September
The Markit Eurozone Composite PMI Final Data shows the Eurozone downturn accelerates . Key Points: Final Eurozone Composite Output Index: 47.9 (Flash 47.3, January 48.6) Final Eurozone Services Business Activity Index: 47.9 (Flash 47.3, January 48.6) At 47.9 in February, the Markit Eurozone PMI® Composite Output Index came in above the earlier flash estimate of 47.3 but remained down on January’s reading of 48.6. The index therefore signalled a steepening of the downturn in business activity, contrasting with the easing trend which had been evident in the three months to January
Hello Mish, Your translation seems correct. It’s quite astonishing is that a serious newspaper like Les Echos reports this story
Bloomberg reports Swiss Voters Approve Limits on ‘Fat Cat’ Executive Pay Swiss voters approved some of the world’s toughest limits on executives’ pay in a referendum, a move critics say could make Switzerland less attractive to multinational corporations. The initiative against “fat cats,” proposed by Thomas Minder, head of a herbal toothpaste company, was backed by 67.9 percent of the voters today, the government said on its website today. The proposal gives shareholders an annual ballot on managers’ pay
Via Email, Michael Pettis author of " The Great Rebalancing " (see "Great Rebalancing" Book Review: Two Thumbs Up ) dispels the myth that Spain and peripheral Europe are on a sustainable rebalancing path relative to Germany. Pettis writes …
Haruhiko Kuroda (Abe’s nominee to head Japan’s central bank) pledges to do Whatever Needed to Combat Japan Deflation .
Traffic Slump at Olive Garden, Red Lobster, LongHorn; Smaller Plates, Cheaper Items at Olive Garden; Saturation Everywhere High gasoline prices coupled with 2% payroll tax hikes is going to take a bite out of restaurant sales this year. For some chains the slump has already started.
Jed Graham at Investor’s Business Daily has an interesting chart showing Wage Recession Hits 5 Years; Worse Than Jobs Drought . I can show it’s even worse, but first let’s consider a chart and commentary by Graham. As bad as the current job recovery has been — and it’s by far the weakest since World War II — the recovery in wages has been far worse
The Bureau of Economic Analysis report on Personal Income and Outlays for January shows a 4% decline in real disposable income (the biggest decline in 20 years) following sharp gains in December.
"The Blame Game" Posted by Michael Shedlock at 12:13 AM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy