Daily Archive: Monday, March 2, 2009

Obama budget to force more savings

[Skip to the end] Just what we need- one more subtraction from aggregate demand and yet more tax advantaged funds for managers to play with. Clearly he believes that “we need savings to have funds for investment” and has at best forgotten the implications of the paradox of thrift: Obama seeks ‘Automatic ...Read More

Mosler Health Care Proposal

[Skip to the end] Mosler Health Care Proposal Government funding for a full time, $8 per hour job that includes full federal health care coverage for the worker and dependents. This immediately triggers market forces that will result in all businesses providing health care benefits as a matter of competition. As a ...Read More

China to bolster oil reserves

[Skip to the end] It’s not a lot but seems private inventories are low and were probably liquidated in the last 6 months. China to bolster oil reserves by Sun Xiaohua Mar 2 (China Daily) — China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country ...Read More

Innocent Frauds (draft in progress) (full)

[top] The 7 Deadly Innocent Frauds of Economic Policy [top] ...Read More

Re: February Economic Summary in Graphs

[Skip to the end] (email exchange) Excellent summary of current conditions, thanks! And gasoline consumption and inventories up year over year with a massive general output gap- so much for the presumed ‘demand destruction?’ q1 looking down 10%- and that’s with the government sector flat or maybe up some, so the rest ...Read More

Gasoline consumption up year over year

[Skip to the end] All the way to the bottom of the recession and gasoline demand up year over year. The sell off in price still looks to me like it was all due to the Great Mike Masters Inventory Liquidation triggered by his efforts last summer. Prices are now heading up ...Read More

California housing data

[Skip to the end] Quote from Data Quick: Record January sales totals in Perris, Temecula, Victorville and Fontana in the Inland Empire. Palmdale in Los Angeles County posted a record total in January, and record January sales totals also were achieved in Chula Vista and Lemon Grove in San Diego County and ...Read More

Japan’s housing starts down yet higher than US

[Skip to the end] With maybe half the population, and with housing in a slump, Japan still has more actual housing starts than the US. While the Obama plan is ‘not my first choice’ for a fiscal adjustment, it isn’t ‘nothing’ either, and should be more than sufficient stabilize aggregate demand, albeit ...Read More

Fed USD swaps to CB continue to ease lower

[Skip to the end] Central bank liquidity swaps (13) $374,590- $5,097 [top] ...Read More

2009-03-02 USER

[Skip to the end] Personal Income MoM (Released 8:30 EST) Personal Income YoY (Released 8:30 EST) Personal Income ALLX (Released 8:30 EST) Personal Spending (Released 8:30 EST) PCE Deflator YoY (Released 8:30 EST) PCE Core MoM (Released 8:30 EST) PCE Core YoY (Released 8:30 EST) ISM Manufacturing (Released 10:00 EST) ISM Prices ...Read More