2011

Below is the list of the largest trade partners of the United States as compiled by the US Census Bureau. The United States has a bilateral trade deficit with 12 of the 15. So I have ranked them according to trade deficit, with China in…

We forgot to post this yesterday. The macro issues raised by GM in their September sales conference call. All are direct quotes from GM management.

Below is a video of my appearance on RT International last night discussing the recent bill to authorise sanctions against the Chinese for currency manipulation. I see this bill as all about the politics and little about the economics.

US national elections are 13 months away and not coincidentally, the Congress is looking at a new measures to encourage China to re-value the yuan. While there is little doubt that the yuan in under-valued, though reasonable people may…

Markets have been punishing countries with the weakest fundamentals, focusing on either high inflation, large current account and budget deficits, external debt loads, or a combination of these. These other vulnerability measures in the…

Robert Reich (Follow the Money: Behind Europe's Debt Crisis Lurks Another Giant Bailout of Wall Street) Follow the money: If Greece goes down, investors start fleeing Ireland, Spain, Italy, and…

This is going to be a relatively long post. But I think it’s important. I have been meaning to update my thinking about the “Fake Recovery” which I heralded in early 2009 as the economy in the US began to turn. My view is that without…

Sentiment continues to improve ahead of NY open off the back of possible EU bank recapitalization plan. For sentiment to continue to improve markets are likely to need a bold policy response and better economic data. Poland’s is expected…

In an interview from late September, Zulauf tells James Turk that he is very much a eurosceptic. The external imbalances in the euro zone make the euro an untenable currency union. Like David Blanchflower, Zulauf remarks how markets are…

Despite the economic problems, it is clear that President Hoover felt that the government’s budget still needed to be balanced. He implored Congress to work with him in order to cut spending to meet this objective.