I updated the chart of the Philly Fed readings to include recession bars (shaded in gray). The bars confirm that the survey doesn’t go this low without us already being in a recession or about to go into one within … Continued
The Philly Fed survey economic activity index printed a -30 for August. I don’t want to say this seals the deal that we’re in a recession, but I don’t think the Philly Fed survey gets this low without one. As … Continued
Joining the list of indicators that are at or near 09 levels, the 10 year Treasury Yield fell below 2% today! Click to Enlarge For context, today headline CPI Y/Y was reported at 3.6%. Even core CPI is running at 1.8%. … Continued
On the heels of Ben Bernanke confirming that “extended period” means at least two years, the spread of the 30 year treasury yield to the 10 year yield is near an all time wide it hit last year at 1.38%. … Continued
Any time the US slowdown chatter picks up, comparisons to Japan seem to follow. Though the comparisons are debated, one idea which isn’t is the idea that Japan has had a “lost decade(s)”. The main data supporting this is the … Continued
Rose to 77.5% in July as industrial production was up 0.9%
Going nowhere at an extremely slow pace–likely one of the main reasons the recovery continues to be so slow and the unemployment rate so high.
Consensus seems to be that Google’s $12.5B acquisition of Motorola Mobility on Monday was primarily made for access to Motorola’s patent portfolio. Motorola has 17,000 patents which will help protect Android “from anti-competitive threats from Microsoft, Apple and other companies” … Continued
In no particular order, an assortment of European Bank price charts over the last 3 years. Click any chart to enlarge.
A primary argument of the deflationists since 2007 has been that aggregate de-leveraging of the US economy is putting downward pressure on prices. It follows that despite how much money is printed in the form of quantitative easing, this de-leveraging … Continued