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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Data Recap from Karim

Posted by WARREN MOSLER on December 23rd, 2010

Karim writes:

The overall income numbers held up well for November despite the weak payroll number; momentum building for consumer spending; capex staged solid rebound

  • Personal income up 0.3%
  • Real disposable income (after inflation and taxes) up 0.2%
  • Personal spending up 0.3% and up 3.8% last 3mths annualized
  • Core PCE deflator 0.1% and 0.8% y/y
  • Capital goods orders ex-aircraft and defense rebound 2.6%; prior month revised from -4.5% to -3.6%
  • Initial claims drop 3k to 420k

Belgian Business Confidence survey chart attached-Considered a very good proxy for Euro-wide economic activity.

Interesting that unlike wobble after sovereign debt pressures picked up in May, activity has surged higher in Q4 (data just released was for December).

One Response to “Data Recap from Karim”

  1. art Says:

    Some angst in Denmark:


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