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Daily
On the breakdown in growth in the Chinese – Australian nexus
I don't think China or Australia is falling out of bed yet but the situation is clearly deteriorating in both countries. A lot of pundits have begun to question the official statistics out of China, especially given the weak electricity…
On Groupon’s crash and the popped web 2.0 IPO bubble
I want to concentrate on the popped Web 2.0 bubble in the wake of Groupon's earnings and subsequent share price slide.
Web 2.0 is for real. I know that may be a strange way to start a post on Groupon and the Web 2.0 IPO bubble but it's…
Daily: more on why European bailouts are out and monetisation is in
I'm back from vacation! The links are light today so let me give you an added few tidbits from this week's Gold member post on the euro zone.
Japan doubling sales tax could mean less revenue, not more
The headline story here points out very clearly why Japan has two lost decades behind it. The country tries to gin up growth via fiscal and monetary stimulus when it lapses into recession. A gaping hole opens up in the government's books.…
Wide swathe of data in US, UK, India and China points to further slowing
The data pointing to the synchronised global slowdown continues. This time we have a string of data from the United States, the United Kingdom, India and China telling us that the economy is not doing well. Here I am leaving Europe aside.…
Data point to continued economic slowing in US and Europe
I do have a lot of links though and here they are. The big issue is the economic slowing in the US and Europe. These articles demonstrate that the global slowdown is spreading beyond the eurozone periphery and is well entrenched in the US…
Zero rates have created a dangerous risk seeking return mentality
One thing Austrians harp on is the misallocation of resources caused by heavy handed and persistent interest rate market intervention. They are right that the industrial organization and the structure of investment capital priorities is…
EC green light to Rajoy’s fiscal plans makes Spanish sovereign bailout more likely
I am going to try a different format for the daily today because I have a number of foreign language articles. This time, I am going to give a brief synopsis of each article rather than just having a main talking point at the outset. This…
On the faltering auto sector GDP assist and also on Spain’s coming sovereign bailout
The US: autos
Last month I wrote one daily on the auto sector’s effect on non-recession reading. The gist of that post was that the auto sector was positively influencing both production and employment, helping the US avoid outright…
Draghi’s comments about the ECB doing “whatever it takes” are irrelevant
Everyone seems to be talking about Mario Draghi these days. They think his comments about the ECB doing "whatever it takes" are important. They're not. They are meaningless. Here's why.