Hard hitting global and local news
Traffic Slump at Olive Garden, Red Lobster, LongHorn; Smaller Plates, Cheaper Items at Olive Garden; Saturation Everywhere High gasoline prices coupled with 2% payroll tax hikes is going to take a bite out of restaurant sales this year. For some chains the slump has already started.
Please consider China well-prepared for currency war: official . China is fully prepared for a looming currency war should it, though "avoidable," really happen, said China’s central bank deputy governor Yi Gang late Friday. A currency war could be avoided, Yi said, if policymakers in major countries observed the consensus, reached at the recent G20 meeting, that monetary policy should primarily serve as a tool for domestic economy.
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
See more here: Did Obama Tax the US Into Recession?
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
Less Than Useless: Goldman Sachs Lowers Gold Forecast Following Plunge (Purposely Late?); Downside Risks In the less than useless category, Goldman Sachs lowered its gold price targets by over $200 an ounce following the recent plunge. Goldman now says Gold’s Cycle Seen Turned . The cycle for gold prices, which climbed for 12 straight years, has probably turned as the recovery in the U.S