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UPDATE: GDP rises to 5.9% in Q4 from 5.7%! That makes me an economist. Today there was a lot of unexpected news. Unemployment claims increased by 22,000 last week and the culprit is … global warming. This was unexpected. Orders for durable goods fell 0.6%, the biggest drop since August. This was unexpected. Here is the report [...] Here is a link where you can view and download my complete “State of the Economy 2010” report as a PDF file. This is Part III of my three part series on the state of the economy going into 2010. Part II appeared yesterday, and Part I appeared on Tuesday. This weekend I will combine the three parts into one downloadable PDF. The Consequences The Impact of Deleveraging The economy is still a mess [...] This is Part II of my three part series on the state of the economy going into 2010. Part I appeared yesterday, and Part III will appear tomorrow. This weekend I will combine the three parts into one downloadable PDF. The Importance of Debt The Fed, the Obama Administration, and a [...] This is the first report of a series of 3 reports on the state of the economy as we enter 2010. Part II will appear Wednesday, and Part III will be posted on Thursday. I have been poring over current economic data, year-end reports from various sources, and current or proposed legislation. [...] According to this report from Bloomberg, the BLS will revise its birth-death business model to more accurately reflect current economic realities. Their model has been seriously criticized. It assumes that as some businesses fail, they will be replaced by new businesses at a certain rate. Mish and others have been arguing for some time that [...] By Jeff Harding. I have all this vitriol stored up from not being able to publish for two weeks and it needs to be spewed. I just read Foreign Policy magazine’s “The FP Top 100 Global Thinkers,” and it is worthy of my bile. Of all the crap I have to read every day to get [...] By Jeff Harding. It was reported Thursday that Goldman Sachs changed their unemployment forecast for September to be 250,000 jobs lost versus their prior estimate of 200,000. They pointed to some of the data that I cited Wednesday in my article, Looking at the Economy Through Gray Colored Glasses. Folk, nothing that bad happened this week that wasn’t already a [...] |
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