Hard hitting global and local news
View post: Goodbye Blogger, Hello WordPress: Mish’s GlobalEconomicAnalysis has Moved to MishTalk.Com
Continued here: Economists in Fantasyland: Economists See 20% Chance of Recession That’s at Least 20% Likely Already Here
View the original here: Fed "Workhorse" Model Says Odds of Recession in Next Year Only 3.56%; What are the Real…
View the original here: Fed "Workhorse" Model Says Odds of Recession in Next Year Only 3.56%; What are the Real…
See more here: New Home Sales Surge but Prices Down Sharply; Prices Have Room to Fall; Is Everybody In?
"Levels Not Seen in 80 Years" The supply glut in oil storage continues as crude.
How Healthy Is the Labor Market, Really? What’s the "official" unemployment rate vs. economic reality
Conference Board Consumer Survey The consumer conference board does a paper survey every month on consumer confidence. The board’s technical notes say (emphasis mine) "The targeted responding sample size – approximately 3,000 completed questionnaires – has remained essentially unchanged throughout the history of the CCI." I called up the board with a simple question: How many surveys do you send out to get 3,000 completed questionnaires
The Wall Street Journal hits the nail on the head with this headline: Yuan’s Fall Is Just ‘Noise’ Amid Deeper China Woes . When the financier George Soros attacked the British pound in 1992 and famously “broke the Bank of England†he was trading on a conviction that the currency was misaligned. Britain devalued after squandering its reserves in a vain defense.
More: Debunking the Myth "Consumer Spending is 67% of GDP"