U.S. Trade Deficits Worth 26 Million Jobs
In January Steven Hansen observed that, through November, the trade deficit for manufactured goods in 2010 was the equivalent of 1.3 million workers earning the median manufacturing wage in the U.S.
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Browsing Tag
Unemployment
Gross: Central Banks are Robbing Bond Holders and Fuelling Inflation
In this segment on Bloomberg with Tom Keene just after the jobs report was released yesterday morning, Bill Gross continues hammering away at the central banks' easy money monetary policies, the main point of his last newsletter. His…
Unemployment rate drops to 9.0 as employment population data skew US jobs numbers
The U.S. jobs data this month is a bit screwy. I wanted to flag something I saw because I think it is significant. First, here is the headline. The U.S. Bureau of Labor Statistics reported an addition to non-farm payrolls of 36,000…
A more malign interpretation of increased consumer spending
By Marshall Auerback Yesterday, Ed wrote a good piece on consumer spending and the return of the economy to the status quo ante. I think it's a little bit more malign than that. There has been a real positive change in the underpinnings…
Vamonos – Voting with their feet in Spain?
By Claus Vistesen As the proverbial line seems to be running out for Greece, I thought that I would look at a slightly longer, although no less important, issue in the context of Spain; more specifically the trend in net migration. While…
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…
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;…
China as the Bad Guy?
In anticipation of the state visit by Chinese Leader Hu Jintao, I spoke about the pressure on US politicians to do something about the Chinese currency problem with RT America's Alyona Minkovski on the Alyona Show last night. The video is…
Forecast 2011: Better than Muddle Through
This is the first of a two-part economic forecast by John Mauldin published on 8 Jan and 15 Jan 2011. The second part will appear shortly. In this issue: How Did We Do on 2010? Russia and the Roots of World Inflation The US…
More on The Fall of the New Monetary Consensus
By Edward Harrison Randall Wray wrote a paper on "The Fall of the New Monetary Consensus" which we posted at Credit Writedowns last week. Randy took on the theoretical underpinnings that guided policy makers through the most…