Post Tagged with: "United States"
Global Manufacturing Slips Back Slightly In March
By Edward Hugh Evidence which would enable us to assess the full economic impact of the Japanese earthquake and tsunami is still hard to come by. There is a lot of talk of supply chain disruptions, but little in the way of detailed evidence to back up assertions of the more anecdotal kind. Even the
U.S. Earthquake Zones
Here is an earthquake risk map of the U.S. from the Daily Mail
Houses most overvalued in Australia and Hong Kong, most undervalued in Japan
A few weeks ago, the Economist put out its quarterly gauge of house price values. Australia just beat out Hong Kong as the most overpriced market in the developed world, with an overvaluation of 56%. Japan was by far the most undervalued market, with an undervaluation of 35%. The only other housing markets that were
US GDP Report: Growth Curbed by Huge Swing in Inventories
by Marc Chandler At 3.2% the Q4 US GDP came in a bit lower than expected. Inventories were the main reason for the miss. In terms of inventory, the key is the change in the change. Inventories rose a little more than $7 bln in Q4 after a $121.4 bln rate in Q3. This subtracted
Remembering Eisenhower’s Farewell Address 50 Years Later
While today is a national holiday in the United States, in remembrance of Dr. Martin Luther King Jr., it is also the 50th anniversary of former US President Dwight D. Eisenhower’s famous farewell presidential address. Ike’s speech warned about the undemocratic tendencies that the nexus of big government and corporate power creates, specifically addressing the
More on The Fall of the New Monetary Consensus
By Edward Harrison Randall Wray wrote a paper on "The Fall of the New Monetary Consensus" which we posted at Credit Writedowns last week. Randy took on the theoretical underpinnings that guided policy makers through the most recent crisis. He argues that the old IS/LM framework all of us economics students learned, but which has
Recent thoughts on jobs and economy via BNN
I spoke to Paul Waldie on BNN this past Friday about the US and Canadian jobs reports. The BBH note that morning on the risk of “buy the rumor sell the fact” ahead of the jobs report was on the money. After the stellar ADP data on Wednesday, the whisper number for US non-farm payrolls
Too Big To Regulate
Systemically Dangerous Institutions – the U.S., Iceland, and Ireland by William K. Black This column was prompted by Thomas Hoenig’s December 1, 2010 op ed in the New York Times (“Too Big to Succeed”) warning that we must end banks that are “too big to fail.” Mr. Hoenig is the President of the Federal Reserve
On the Ability of Trees to Grow to the Sky
Most of the headlines you’ll see related to the Federal Reserve’s Z.1 Flow of Funds report are focused on the change in household net worth. In the 3rd quarter 2010 report, released yesterday, the change was a positive one: household net worth rose $1.2 trillion, driven primarily by $1.3 trillion gains in equities and mutual
South Korea: On Free-Trade Agreement And Won
by Marc Chandler At the end of last week, the US and Korea appeared to reach the basis of agreement that will also resuscitate the moribund free-trade effort. In essence it appears that slowing down the liberalization in the auto sector and pork was what broke the log jam. The US tariff on Korean auto
Some Thoughts On The IMF And Europe
The IMF total contribution to the European rescue fund is not a solid one. That is, the IMF responds to country-by-country requests for aid, not to regions. Thus, the IMF really does not have EUR250 bln set aside just for Europe. politically speaking, can the US, Germany, and other countries justify giving more money to the IMF in the current environment? It would be very difficult to push through, in our view
Putin says dollar hegemony ‘dangerous’ and calls for Russian-EU economic trade zone
The under-current from Putin’s remarks has much to do with anti-US Dollar sentiment because he said specifically that having the U.S. dollar as the sole reserve currency “is definitely something negative.” Putin is serious about ditching the dollar. But will this gain any traction