United States

The long-term trend in capacity utilization in the US shows a secular decline. After each major recession over the past 50 years, capacity utilization peaked at a lower level than after the previous recession. So far in the post-Great…

In the wake of the NSA spying scandal, I have been moving my data away from large US vendors and increasing my computer security. Both of these issues needed to be addressed but the NSA spying scandal has made them relevant for me - and I…

In spite of the divergence in the chart, the "loans create deposits" axiom still stands - deposits are still created through bank credit. Two key developments explain much of this divergence without violating these principles.

Mortgage backed securities (MBS) have sold off sharply over the past month as fixed income markets face the new reality of rising rates. But unlike most other fixed income securities, MBS duration tends to increase with yield.

A rout in global equities is taking shape with the decline led by Japan and emerging markets. Japan is now in bear market territory, with shares down over 20% from the high. But emerging markets are my main worry because of the real…

As mortgage rates in the US reach the highs not seen since early 2012, many are asking the key question: would this rise in rates impact the housing market or consumer sentiment?

If you are following this story, you can find links updated on this and other civil liberties-related issues on my delicious feed. Here are the latest batch of links from the past 24 hours.

Let’s be clear: it is the apathetic American people who have created this mess. They have allowed their government to operate in a veil of secrecy without any basic checks on power. If Americans don’t wake up and start demanding change, it…

Daily comments on finance, economic and market news for 6 Jun 2013

While consumer spending is up on the previous year, the growth in spending has moderated to the lowest level in three years.