Hard hitting global and local news
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
Think Greece has been “saved” by the Troika? A quick look at some loan repayment stats may help you think clearly.
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
My friend Tim Wallace pinged me today with a few thoughts.
See the original article here: Walmart Slow to Stock Shelves as Consumer Sales Slump
What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy Caroline Baum had some interesting comments about Bernanke’s testimony before Congress in her writeup What Bernanke Didn’t Say About Housing . One of the more interesting exchanges at Ben Bernanke’s testimony to the Financial Services Committee today was the one between the Federal Reserve chairman and Representative Scott Garrett, a Republican from New Jersey.    Citing Bernanke’s assertion that one of the benefits of QE had been the rise in home prices, Garrett said the following: "Previously you have said that the Fed’s monetary policy actions earlier this decade, 2003 to 2005, did not contribute to the housing bubble in the U.S. So which is it?
View the original here: Elizabeth Warren Grills Bernanke on "Too Big to Fail" Policy
France Unemployment Highest Since 1997 In the easy to see coming category (thanks to the socialist policies of French president Francois Hollande) French unemployment level hits 15-year high . Unemployment numbers in France rose by 43,000 in January to 3.16 million, an increase of 10.7 percent from last year, the labour ministry revealed on Tuesday. The figure is at its highest since January 1997, when it reached 3.19 million.  Rising unemployment is a setback for Socialist President Francois Hollande, who has pledged to curb the unemployment rate from the current level of more than 10 percent to a single-digit figure by December.