Europe

We are staring into a cyclical downturn in the second half of this year. Behind that is a whole other set of challenges, more structural in nature, which will take years to sort out. Our American friends - except for a small but rather…

Debt deflation is taking hold in Europe. We have seen the crash in Greece's economy unfold over the last two years. And now we are witnessing similar things in Spain. As Marshall Auerback puts it, Spain is the New Greece. But now come signs…

I have a ton of links so I am going to break them up into groups. Here's the first bunch from late last week. Three topics are most interesting.

Much like the US manufacturing index, the global manufacturing index has hit three year lows. The numbers indicate a contraction in global manufacturing activity, with the JPMorgan Global Manufacturing PMI now below 50% at 48.9% for June…

Comstock Partners argues that slowing growth as well as deficit and debt problems in the Eurozone, U.S., China and the emerging nations increases the odds of a deflationary global recession and a renewed down leg in the ongoing secular bear…

Earlier in the year, I predicted that corporate profitability would fall as US corporate profit margins were cyclically high. The New York Times is reporting that corporate profits fell in Q1 2012 for the first time since the fourth quarter…

This week's newsletter will focus on Europe again as this morning the European summit has produced significant changes in European economic policy. Spanish Prime Minister Rajoy and Italian Prime Minister Monti threatened to 'block…

The latest economic data suggest that the slowdown in growth continues to build across many different economies globally. In the UK, revised data from Q4 2011 show that Britain;s recession has been deeper than was previously…

I was on RT's Capital Account on Monday afternoon, talking about the euro crisis yet again. The video is below but I have a few comments before you watch it. In the video, I say Europe can continue dithering for quite a while. There is…

Links from the past couple of days featuring articles on price stability, mobile competition and the European crisis and much more.