Detached gecko tails dance to their own tune PhysOrg Germany’s payroll bailout pays political dividends Globe and Mail China Wants Our Real Estate! Clusterstock When Wall Street nearly collapsed Fortune. Funny, I told my mother to make sure she had enough cash on hand to cover a month of expenses, but did not do the […]
Read more...This blog normally steers clear of the consumer finance space, except when it is amusing or has macroeconomic effects. But once in a while I cannot contain myself. Why does anyone have a debit card? I am deadly serious about this question. Not long ago, I switched banks, going from one end of the spectrum […]
Read more...By George Washington of Washington’s Blog. Unemployment is disastrous on both the individual and societal level. Individuals who look for work but can’t find it are miserable. Indeed, most people who lose their job are unprepared for their circumstances.[1] On the national level, high unemployment is both cause and effect concerning other problems with the […]
Read more...Google Books: A Metadata Train Wreck Language Log Migrants hit by global downturn BBC President procrastinator Financial Times. Ouch. In August, QE hit the economy UK Bubble Nice Depiction of a System in Decline John Robb In August, QE hit the economy UK Bubble Interest rates ‘could rise sharply early next year’ Telegraph. In contrast […]
Read more...Um, this isn’t exactly consistent with the recovery story. From MarketWatch: Employers’ hiring plans for the upcoming fourth quarter dropped to their lowest level in the history of Manpower’s Employment Outlook Survey, which started in 1962. A net -3% of employers said they’ll hire in the fourth quarter, down from -2% in the third quarter, […]
Read more...We’ve commented from time to time on dubious Chinese data releases. But this report from Foreign Policy reports on an interest aspect: that the statistics are not manipulated only in the normal bureaucratic manner (fudging them) but also by getting companies to change behavior so it can be tallied in a more flattering fashion. The […]
Read more...The headline statistic, which comes out of a study by the non-partisan California Budget Project, in isolation sounds worse than it is (which is not to say that this factoid is good, mind you). Labor force participation before the downturn was in the 66%ish range, so this is a meaningful decline (assuming California levels are […]
Read more...Oil boom fuels mystery of the missing island in the Mexican Gulf Times Online (hat tip reader John D) China’s Fat Banking Years Are Fading, And Risks Are Rising Michael Quigley Recession perhaps not over Bubble Meter Lehman leads the way in ‘lottery ticket’ rally Financial Times Credit Rating Agencies Took “Bribes” for Higher Ratings […]
Read more...Ambrose Evans-Pritchard has not given up on his deflationary views, which until recently were quite an outlier. But some recent data releases give support to his downbeat take. From the Telegraph: CPI inflation has dropped to –2.2pc in Japan (a modern record), -2.1pc in the US, -1.8pc in China, -1.4pc in Spain, -0.7pc in France, […]
Read more...Dear patient readers, I am currently in Maine. This would normally be a good thing (the house here on the island has great water views, for instance), except I am having to work full time while supposedly on a holiday with some family members. Thus all that has happened is that I have lost productivity […]
Read more...Fall colors fade in U.S. west as aspen trees die Reuters The Cupcake Bubble Daniel Gross, Slate The Last Temptation of Risk Barry Eichengreen, National Interest (hat tip Brad DeLong) How Many Rabbits Are Left In The Hat? Michael Shedlock The Battle of Jericho Kevin Drum (hat tip Megan McArdle) Lobbyists Feel the Pinch As […]
Read more...The Japanese approach regulation very differently from the way Americans do. First, just about nothing is codified in writing. Lawyers are few and far between (by design, the bar exam is difficult to pass). If you try to get an opinion on whether a new idea will pass muster, you are certain not to get […]
Read more...While the G-20 agreement to move forward with a coordinated approach to bank capital rules and employee incentive payments is progress, it is important to recognize that what took place was effectively an apple pie and motherhood statement. The one stake in the ground was the commitment to make Tier 1 Capital a key metric. […]
Read more...The Real News About Jobs and Wages — An Ode to Labor Day Robert Reich Reading, Writing and Reaganism TPM (hat tip reader Scott) State and Local Employment and Spending Trends Menzie Chinn An Insider look at Ginnie Mae MBS Bruce Krasting Bill Would Declare Your Blog a Weapon Slashdot (hat tip reader Scott) Max […]
Read more...As much as commentators are trying to put a happy face on recent data releases showing that job losses are slowing, it still means that fewer people are working. Moreover, one element of the poor jobs environment that it not getting enough play is the way wages are deteriorating. Some who have full-time work have […]
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