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One Chart To Rule Them All, One Chart To Find Them (Out)
By Edward Hugh Look, if there is one simple chart which sums up everything that is wrong with current thinking at the International Monetary Fund, then it is this one. Basically, I spent much of the day yesterday scratching my head,…
Data Triangulation
A post by Annaly Capital Management from last night. Connecting two data events from the last 24 hours serves as a reminder to policy makers that if they really want to improve the housing finance system in the United States they should…
Whither China?
By John Mauldin Now let's turn to China. I received this report from Simon Hunt (who is based in London, and who makes my travel schedule look positively pedestrian). Besides being an expert on the copper market he is a serious student of…
The Problem with Pensions
By John Mauldin A report just out from the Center for Policy Analysis, by Courtney Collins and Andrew J. Rettenmaier (solid academic types from Mercer University and Texas A&M respectively), that indicates that state and local pension…
On China and America’s Collapsing Empire and Other Links
Must-read piece What collapsing empire looks like - Glenn Greenwald - Salon.com China John Lee: China's Rise and the Road to War - WSJ.com Letter From China - Chinese Paving the Road to Freedom With Cash - NYTimes.com 'Most…
Goldman’s Gets 25% to 35% of Revenue From Derivatives
No wonder Goldman has resisted derivatives regulation so fiercely. A huge percentage of the firm's revenue comes from these activities (hat tip R.W.). The Wall Street Journal is reporting that as much as a third of the firm's revenue came…
Too Soon To Cry Victory?
Confidence Has Returned To Europe’s Financial Markets, But Lasting Economic Growth May Not Be So Easy To Achieve ECB president Jean-Claude Trichet was in rather optimistic, one might even say jovial, mood at the press conference which…
Disappointing Jobs Data Sends the Dollar Lower
Private sector pay roles gained a disappointing 71k and the June figure was revised lower. The headline lost 131k and here too downward revisions in prior months. The work week increased and hourly earnings ticked up. Manufacturing,…
Chandler on jobs and other links
The recovery has weakened considerably since the end of last year. Much of this is due to the fading impact of government stimulus and inventory adjustments. See the note this morning from Comstock Partners "Faltering Recovery."…
Faltering Recovery
By Comstock Partners We have maintained all along that the statistical economic recovery would lose momentum after the effects of the stimulus and inventory replenishment wore off, and the recent data are confirming our view. Moreover…