Valance Weekly Report 10.5.2011
Posted by WARREN MOSLER on October 5th, 2011
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Highlights
US – Personal income fell for the first time in nearly two years
EU – Italy downgraded
JN – Data improves but remains weak
UK – Q2 GDP close to stalling
CA – Second positive GDP in a row
AU – Will RBA cut rates?
NZ – Double downgraded
October 7th, 2011 at 10:16 am
I’m stunned that even though personal income fell for the first time in nearly two years, not one political leader is calling for the abolishment of the federal income tax.
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