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Chart of the Day: How Does Unemployment Compare To Past Cycles?
This comes via Economix: The writers there have a two related pieces (with equally revealing charts) that I recommend reading: Bleak Outlook for Long-Term Unemployed The Recovery Is Losing Steam I guess this is why they call…
The Art of Outperformance
“When data contradicts theory in a discipline like physics, there is excitement amongst scientists . When data contradicts theory in finance, there is dismissal.” Robert Arnott Big shift to passive Active management in the equity…
Lessons We Can Learn On How Stimulus And Jobs Programs Failed in Eastern Germany
"I have this to say to my fellow Germans in East Germany: The introduction of the social market economy offers you every chance, in fact, even a guarantee, that (the East German states of) Mecklenburg-Western Pomerania,…
Employment Data Poor Despite Drop in Unemployment Rate
The unemployment rate fell to 9.5% from 9.7%, but this likely reflects people dropping out of the labor market. The work week fell 0.1%, which is the equivalent of about 300k job loss. The private sector 83k jobs and the May…
Barring Upside Employment Surprise, Dollar May Fall
Highlights The US dollar is mixed ahead of the monthly jobs data. It is generally consolidating yesterday’s losses against the European currencies and Japanese yen, while slipping against the dollar-bloc. The increased…
Davidowitz: Credit Crisis ‘A Gigantic Ponzi Scheme, Lies And Fraud’
Below is a very entertaining interview with Howard Davidowitz on financial reform and the credit crisis with Aaron Task and Henry Blodget of Tech Ticker (hat tip Scott). Davidowitz says don't expect any substantive changes, especially…
Chart of the day: Record Profits But Cash Hoarding In The U.S.
These charts were compiled by Pimco via data collected from the Federal Reserve and Credit Suisse. They show that U.S. companies are earning record amounts of money but are not re-investing it. Instead, companies are hoarding cash.…
On Jobs, Labour Mobility, the Stickiness of Wages and Other Links
On jobs, labour mobility and the stickiness of wages Macroeconomics Doubtbook, Installment 3, Arnold Kling | EconLog | Library of Economics and Liberty The Usual Fare AppleInsider | Apple sued over iPhone 4 reception issues…
Kartik Athreya for Fed Chairman
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Federal Reserve economist Kartik Athreya has written what all Federal…