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View article: Reflections on "Paper Reserves" of Central Banks; Gold and the Tapering Disconnect
See original article: US Consumer Spending Flat Since March – Gallup
Original post: Message to 5.7 Million Truck Drivers "No Drivers Needed" Your Job is About to Vanish; Time Marches On,…
The latest news from RoboHub shows World’s lightest and thinnest circuits pave the way for ‘imperceptible electronics’ .
I am normally critical of IMF forecasts, but their baseline unemployment projection for Spain of 25% or more with no more than .6% annual growth through 2017 seems reasonable. The pessimistic scenario is a toxic deleveraging downward spiral that continues right now. The optimistic scenario assumes 2% growth, but that scenario does not start until 2018, and only if labor reforms in Spain and Europe take place
My friend "BC" says How convenient, otherwise real GDP would have printed at 0.8%, prices constant. Yet, the yoy rate of real final sales per capita is below 1% for the second quarter in a row, whereas the second quarter annualized rate is near contracting. Had the deflator been reported at the rate in Q1, the yoy and 2-qtr. annualized real final sales per capita rates would have been reported as contracting
Juergen Stark, former ECB chief economist (who resigned in 2011 over a dispute regarding bond purchases), says in an interview in Handelsblatt "The Euro crisis will worsen in late autumn" Via Google Translate A year ago, ECB chief Draghi announced plans to do anything to save the euro. The former ECB chief economist Juergen Stark considers this fatal. He fears that the ECB will soon have to support France with bond purchases
Originally posted here: Interesting Hussman Tweets on Case Shiller PE, Institutional Selling, Book Values
Now That’s Backwardation! Recall the definition of backwardation: Current price above future delivery price . There are many reasons this can happen with commodities, but the typical explanations are: temporary short-term supply shortage, expected future supply, or expected falling demand. Supposedly this can never happen with gold because " gold is money ".
Continue Reading: About that Austerity in Spain: There Isn’t Any