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Economy
Davos leaves Nouriel Roubini downbeat about policy coordination and Egypt contagion risks
Piggybacking off of my last post highlighting Nouriel Roubini's talk with Simon Constable, I wanted to present three videos from Roubini's appearance on NBC Europe this morning. In the earlier pre-Davos Wall Street Journal interview,…
Nouriel Roubini Sees Great Risks in the US and Global Economy
Nouriel Roubini talks with the Wall Street Journal's Simon Constable in the video below about both the developed economy – emerging economy divide that has developed as well as the challenges ahead for the US economy. His view on both…
How big is Chinese GDP?
By Michael Pettis
Most of this week’s newsletter was about the release last week of China’s fourth quarter GDP growth numbers by the National Bureau of Statistics (NBS). You can find the full NBS report on their website, but here is the…
Really Nominal GDP
by Annaly Capital Management Released by the BEA this morning: the advance reading of real GDP came in at 3.2% for the 4Q of 2010 (actually, it was 3.17%, but who’s counting?) versus expectations of 3.5%. There was a lot of internal noise,…
US GDP Report: Growth Curbed by Huge Swing in Inventories
by Marc Chandler At 3.2% the Q4 US GDP came in a bit lower than expected. Inventories were the main reason for the miss. In terms of inventory, the key is the change in the change. Inventories rose a little more than $7 bln in Q4 after a…
Normal Recovery? No Way
by Comstock Partners The majority of economists and strategists are now telling anyone who will listen that the economic recovery is now normal and are trumpeting this view to jump-start the stock market. They are confidently…
On Britain’s Austerity and Rosenberg’s Depiction of Obama as Herbert Hoover
I have written a post or two offering the opinion that Barack Obama faces an economy more akin to Herbert Hoover's than Franklin Roosevelt. See "Barack Obama as Herbert Hoover" where posited the following: My intent here is…
Why Are States and Cities Going Out of Business?
In the video below, David Wessel argues forcefully that we are seeing four big issues. State and local revenue i.e. their tax base has been decimated by the downturn at the same time as many turn to government to keep their heads above…
Housing bad, Consumer confidence good… What gives?
The gist of the conversation we had on Business News Network on Tuesday was that the data coming out of the U.S. ahead of the President's State of the Union address was conflicting. Housing was dreadful, but consumer confidence was up;…
Why our Fundamental Approach to Banking Regulation is Inherently Unsound
By William K. Black (cross-posted from Benzinga.com) Greetings from the North American Securities Administrators Association (NASAA) annual enforcement conference in Charleston, S.C. I’m giving the keynote address Monday. I’ll…