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More on the accelerating economies in the US and the UK
I don’t have any links today, so I am going to go right into the daily piece here. Just 10 minutes ago, the US jobs numbers were released. Combined with the British composite PMI data earlier, the numbers present a rosy picture for the two…
Accelerating recovery in the US, Spain and Britain
The economic data out of the US and Spain yesterday were very good and support the idea that both of these economies are seeing recoveries that are accelerating. Some thoughts on the data below
Spain PMI at a 84-month high
Markit's June Manufacturing PMIs for the Eurozone came out this morning. And overall, the numbers showed less strength across the board, with France showing particular weakness.
You can see that Spain and Ireland were doing well though.…
On the BIS annual report, monetary policy and the hazards of overindebtedness
The 2014 BIS Annual Report warns again about the perils of ultra-easy monetary policy as it did in the lead-up to the Great Financial Crisis. I think the BIS could prove a Cassandra here and will explain below. Nevertheless, many refuse to…
Links: 2014-06-30
I have 30 links today instead of the usual 20.
GM to Recall 7.6 Million More Vehicles in U.S. - WSJ
Turkey rejects Kurdish independence, wants Iraq unity government, officials say | Reuters
Russian stocks stage remarkable turnround -…
Economic and market themes: 2014-06-27 Fed will trigger the next crisis
The title here is a bit provocative I know. But it is really something I stole from an article about Stephen Roach’s view that I will use as a jumping off point for my Friday review.
On how credit excesses will undermine this cyclical upturn
I am not impressed with macro policy that is managed purely to give a cyclical boost to the economy at the expense of secular sustainability. That makes it hard to look at what’s happening with macro policy now without scepticism and…