Daily Archive: Wednesday, August 12, 2009

ECB statements

[Skip to the end] ECB’s Stark Says Economy May Recover Sooner Than Forecast Stark Says State Debt May Boost Long-Term Market Rates, BZ Says *ECB’S STARK SEES `NO BIG PROBLEMS’ UNWINDING ASSET PURCHASES *ECB’S STARK COMMENTS IN INTERVIEW WITH BOERSEN-ZEITUNG *ECB’S STARK SAYS RISING GOVT DEBT MAY BOOST LONG-TERM MKT RATES *STARK ...Read More

US Consumption and Tax Policy

[Skip to the end] Some interesting bits. Supports my contention that we are seeing real wealth flowing upward and will continue to do so. Note the distribution of consumption, which has been moving north as well. Proposed tax policy won’t change any of this- higher incomes will more than offset increased marginal ...Read More

Trade/FOMC Preview/China Exports/Stimulus hangups

[Skip to the end] Karim writes: Trade: Exports up 2%, Imports up 2.3%. Imports ex-petroleum down 1% and consumer goods imports down 4.8%. Sector strength mainly in industrial goods (restocking), but indicators of final demand still look weak. Don’t look for dramatic changes to FOMC statement; major focus will be on Treasury ...Read More

Zombie Economy: European Industrial Production Unexpectedly Declines

[Skip to the end] Looks to me like the world hit a ‘soft spot’ in July, maybe due to the winding down of China’s suspected ‘inventory building.’ CPI’s continue to fall in the Eurozone indicating continuing domestic demand weakness. Strong productivity gains are not being matched with fiscal adjustments to sustain output ...Read More