United States

By Marc Chandler The shockingly disappointing non-farm payrolls growth of 88k has sent the dollar reeling. The 61k upward revisions to the Jan and March figures and the smaller than expected trade deficit were not sufficient offsets.…

"With the current policy, will need force to keep it going against the interests of the people. You do not need to be a eurosceptic to conclude that such a monetary union is also deeply immoral." - Wolfgang Manchau, Eurozone Break-Up Edges…

Quick note here on the US and the UK to change things up a bit from the Cyprus obsession.

The US employment situation summary for February showed an improving labor market with 236,000 jobs created and unemployment down to 7.7%. These numbers are indicative of an improving labor market and reflect the likelihood that the US will…

The US jobs data was consistent with the recent string of data clearly showing a surprising resilience to the anticipation and tightening of fiscal policy. The Canadian employment data was also stronger than expected.

Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, was on "Bloomberg Surveillance" this morning repeating his claim that a US recession "began around the middle of last year".

More and more the economic data coming out of the US seems to support continued recovery. The housing data certainly does. Consumer credit is increasing. And the Fed Flow of Funds data shows household balance sheets significantly repaired.…

In mid-January I had said I expected a recession in Q2 as a result of austerity and a government shutdown in the US. Recently, however, I have moved away from that position as a baseline, largely because of the rebound in housing and the…

Europe is in recession right now, but the US is in a weak but fairly long-lived economic recovery. The difference in economic fortunes owes entirely to differing policy responses in both regions. In Europe, the economic paradigm has…

Yesterday I said that, given the housing rebound, it seemed ever more likely that the US economy would be able to power through the budget cuts from the sequester and the fiscal cliff. This is the asset-based economy at work. There is…