Yours truly is often accused of seeing the glass half empty. Well, the glass is actually three-quarters empty so I don’t think I’m being overly pessimistic. You may think that I cherry-pick the bad stuff, but put yourself in my place. Here is a snapshot of the Wall Street Journal’s Economics section Monday, October 4, 2010. Which story should I comment on (rhetorical question: don’t answer)?
U.S. factory orders dropped in August, marking the third decline in the last four months. Separately, pending home sales rose a bit from a month earlier.
The Central Bank of Ireland slashed its economic forecasts for the country and warned that government spending cuts in the upcoming 2011 budget will have to go beyond the $4.13 billion planned.
Spanish jobless claims continued to rise in September, pointing to a weakening of Spain’s fragile economic recovery in the third quarter.
Fed Chairman Bernanke said he believes further asset purchases could help the economy, signaling he would support the move if the economy remains weak.
Greece would cut its deficit to 7% of gross domestic product, ahead of the 7.6% target sought by international lenders, under a draft 2011 budget announced by the finance ministry.
An unlikely figure has emerged as an important player inside the Federal Reserve: James Bullard, president of the Federal Reserve Bank of St. Louis.
Euro-zone producer-price inflation eased in line with expectations in August, suggesting the European Central Bank faces little pressure to tighten monetary policy in the near term.
Rank-and-file lawmakers express doubts about the proposal to close lose a $19.1 billion gap.
As stocks struggled during much of 2010, bullish hedge-fund managers like John Paulson looked like naive optimists. They got their revenge in September.
Across Spain, towns that once reaped the benefit of housing-boom revenues are slashing budgets, cutting services and racking up debt.