This is what a commodities crash looks like
(Hat tip Business Insider for the video and Conor Sen for the connection). Gee Wally, I wonder if speculation had anything to do with it.
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Earnings, Employment and Inflation
Recent data suggest we are at the point where energy prices are creating demand destruction. Economic growth has slowed to below 2.% in the US. Further, ISM data suggest that companies are at the breaking point in their ability to absorb…
Unemployment claims data deteriorate sharply
In the week ending April 30, the advance figure for seasonally adjusted initial claims was 474,000, an increase of 43,000 from the previous week's revised figure of 431,000. The 4-week moving average was 431,250, an increase of 22,250…
Details of the 78 billion euro bailout for Portugal
Below is a PDF copy of the Portuguese Memorandum of Understanding for the EU - IMF bailout. Portuguese interest rates have fallen somewhat on the news of the bailout, to the lowest levels in fifth months.
Chart of the Day: Japanese Money Stock – M3
Despite pumping trillions of yen into the economy over the last decade, Japan's M3 money stock is no higher now than it was at the beginning of the last decade as the private sector has deleveraged.
Bill Gross: ‘Low policy rates represent an immediate threat to investment portfolios’
Bill Gross: Low policy rates and the increasing negative real yields that they engender as inflation accelerates represent an immediate threat to investment portfolios. Bond prices don’t necessarily have to go down for savers to get skunked…
UK PMI Hits Low
Sterling is falling against the US dollar this morning after the April manufacturing PMI has come in weaker than expected at 54.6, the lowest in seven months. Inflation is the third highest since the data was first collected in 1999.
Has the US manufacturing sector’s growth already started its cyclical descent?
The April 2011 Manufacturing ISM Report On Business came out today and confirmed the slight downward path we have seen since February. Mind you, 60.4% is still a very robust reading. Nevertheless, I still believe the manufacturing sector's…
On Ideology, economics and the compatibility of Chartalists and Austrians
Below is a framework that delineates the ideology and economics of two groups of economic thought that are much talked about in the wake of the Credit Crisis: the Chartalists and the Austrians. These two groups are considered outside of the…
Seth Meyers remarks at the 2011 White House Correspondents’ Dinner
This is making the rounds on the Internet because it is very funny. Take a look.