Hard hitting global and local news
Flash China Manufacturing PMIâ„¢ at 47.8 (49.3 in July). 9-month low. Flash China Manufacturing Output Index at 47.9 (50.9 in July)
Indiana’s Voucher System Doubles, Public Schools Fight Back With Billboard Ad Campaign; Three Sure-Fire Ways To Improve Schools Indiana has the nation’s largest school voucher system and it is about to double in size. In response, Indiana public schools wage unusual ad campaign .
For example, a Google-translated headline on Welt Online reads ECB chief demonstrates German banker .
Robots to Rule the World? Taking All Jobs?
Bloomberg reports Bundesbank Widens Euro Rift With Criticism of ECB Bond Plan . Germany’s Bundesbank stepped up its criticism of the European Central Bank’s plan to embark on potentially “unlimited†government bond purchases, widening a rift over how to tackle the sovereign debt crisis.“The Bundesbank holds to the opinion that government bond purchases by the Eurosystem are to be seen critically and entail significant stability risks,†the Frankfurt-based central bank said in its monthly report today. The new program “could be unlimited†and decisions about potentially far greater sharing of solvency risks should be taken by governments or parliaments, not by central banks, it said
Original post: New York City Jobs: Striking Divergence in Household Survey vs. Establishment Survey
Original post: "Break-Up Could Make EU Function Better" Says Finnish Foreign Minister; Finland Totally Committed to Euro, Yet Prepared Breakup
New Jersey Unemployment Hits 35-Year High of 9.8%; What Does That Suggest About Retail Sales? Posted by Michael Shedlock at 12:48 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
Pettis on Debt, Currency Wars, Commodity Prices and Capital Flight; China FDI Contracts 8.7% YoY, 8th Drop in 9 Months The much-denied hard landing in China is now underway with weakening data everywhere one looks.
Total Revenues: -$468.8 million (-10%) Income Tax: $156.2 million (5%) Sales Tax: -$390.7 million (-40%) Corporate Tax: -$26.4 million (-9.1%) What the Numbers Tell Us Typically, July is a month when California revenues go on vacation, as the month accounts for about one dollar of every $20 deposited in the General Fund.