Let’s cut to the chase. According to the BLS household survey (CPS), there were 1,446,000 fewer people working full time in August than in August 2008. That’s after an…
Lee Adler tells CNBC Africa that the Fed may be tapering, but the key to the US market will now be in the actions of the BoJ and ECB. Subscribe to the Professional Edition for my proprietary research.
A tincture of green for the early openers: Kiwis +0.4%, Aussies +0.1%, Nikkei +0.7% and Sth Korea -0.2%.
In Aussie sectors, Gold -2.3% is the big loser with REITS/Energy doing a bounce, +0.7%.
While many economists and market watchers have failed to notice, we have entered a new chapter in the short and checkered history of central banking. This paradigm shift, as yet unaddressed in the textbooks, changes the basic policy tools that have traditionally defined the sphere of macroeconomic decision-making.
Eduardo Porter’s New York Times column from yesterday is worth a quick read mainly for two reasons. Not because it sheds much light on its title question of whether globalization is in retreat. Instead, it’s noteworthy because of two valuable contributions to the U.S. manufacturing renaissance debate.
The word “gloomier” inconveniently showed up to describe CEOs outlook about sales, employment, and capital expenditures. Yet, these CEOs spend record amounts, not on productive uses such as capital expenditures or hiring more people, but on buying back their own shares.
Early openers scatty: Kiwis +0.1%, Aussies -0.3%, Nikkei +0.1% and Sth Korea +0.7%.
Mixed for Aussie sectors: Gold +0.8% down to Financials -0.9%.
It seems insane to be giving advice to Tom Hanks on how to make a TV series – something like telling Warren Buffett how to invest. But here goes:
The British pound is getting slammed as we near Scotland’s vote for independence, so the U.S. dollar is rising compared to this move.