Economy

by Edward Hugh Spain’s EU harmonised seasonally-adjusted unemployment rate (which is the interesting number) went up again in July, according to the latest data from Eurostat. It rose to 20.3% from 20.2% in June. So despite a double…

One key theme has been how well many emerging market economies have held up while the world's biggest economies slow. India's Q2 GDP report fits into that theme. The 8.8% year-over-year growth represents an acceleration from the 8.6% y-o-y…

by Edward Hugh: Barcelona The current generation of policymakers seem to be like Captains of large ocean liners, out there on the high seas, bereft of either compass or adequate charts, trying hard to calm their worried passengers by…

by Edward Hugh: Barcelona Karl Friedrich Hieronymus, Freiherr von Münchhausen was a German baron born in Bodenwerder in the eighteenth century. Made famous by the Hollywood director Terrence Gilliam, the baron first came to public…

Bill White, formerly of the BIS and now with the OECD spoke to Bloomberg News during the KC Fed's annual meeting in Jackson Hole, WY. He gave some rather pointed answers to questions about the Federal Reserve's monetary policy. I reviewed…

By Michael Pettis On August 8 Credit Suisse published a study they had commissioned by Professor Wang Xiaolu of the China Reform Foundation.  A lot of readers have asked on- and offline me to discuss this study in light of the entry I…

In a recent FT Op-ed, entitled "Estonia’s recovery defies economists and academics", columnist John Dizard argued that "the “internal devaluation” policy, which means cuts in nominal costs such as wages and rents, was very…

By Doug Hornig of Casey Research This coming Friday and Saturday, the Federal Reserve Bank of Kansas City will sponsor its annual retreat in Jackson Hole, Wyoming. It’s a chance for Fed officials, foreign counterparts, and academic…

As the property markets in Spain, Ireland, and Britain have dried up, a mass of Eastern European immigrants specialized in the building industry have found themselves without a stable source of income. The decline in remittances back to…

Perhaps it would be a good time for investors and analysts alike to lean back and have a good bottle of Pinot Noir and let markets be markets. Surely, with the likes of Hindenburg Omens still getting its share of the tape and with the macro…