Hard hitting global and local news
Mish with Max Keiser in Chicago, Discussing Chicago Economics and Pizza A couple weeks ago I had the pleasure of meeting Max Keiser and Stacy Herbert, downtown Chicago. On the lakefront, in a very informal chat, we discussed the sorry state of affairs regarding Chicago finances and education
View article: "Out of the Blue" Plunge in New York Region Manufacturing; Optimism Persists
Taken from: Industrial Production Jumps on Surge in Auto Production; Revisions and Seasonal Adjustments in Play
Retail Sales Exceed Expectations, Huge Upward Revisions Retail sales, led once again by autos, beat the Bloomberg Economic Consensus .
In a move sure to heighten trade tensions with protectionists in US Congress, Surprise China Devaluation Marks Escalation of Currency War . According to conventional wisdom, wars are easy to start and difficult to end.
Following Saturday’s report Chinese Exports Slump Over Eight Percent , analysts expect more China stimulus. Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world’s second-largest economy. Imports also fell heavily from a year earlier, in line with market forecasts but suggesting domestic demand might be too feeble to offset the weaker global demand for China’s exports
Plagues of Locusts Invade Russia; Putin’s Inane Food Contraband Destruction Policy; Law of Asset Destruction Putin’s Inane Food Contraband Destruction Policy In an action as economically stupid as president Roosevelt destroying US farm produce during the Great Depression, Russia Incinerates Contraband Food . One year into its embargo on western food products, Russia has launched a controversial campaign to destroy all contraband meat, dairy and produce, using on-the-spot incinerators, dump trucks, rollers and meat grinders.
Read the article: Establishment Survey +215K Jobs, Household Employment Survey +101K, Part-Time Employment -760K, Labor Force +69K
Friday’s Job report may skew the odds, but this is how I see things: Fed Yap vs. Futures; Bloomberg vs.
Please consider Fears Grow as Ukraine Rightwing Militia Puts Kiev in its Sights .