Jobless Claims Dip, Still in Range; Trade Deficit Jumps

As previously discussed, the real economy seems to be muddling through, and at firmer levels than the first half of the year. The trade report will probably result in Q2 GDP being revised down to just below 1%, but up from the .4% reported for Q1 So Q3 still looks like it will be at […]

Eurozone trade deficit rising

[Skip to the end] This is not a good sign given their monetary arrangements with no federal fiscal authority to incur the corresponding budget deficits, public and private. And the unlimited Fed swap lines to the ECB could now be further increasing eurozone foreign currency debt, and funding imports with fresh ‘cheap and easy’ dollar […]

Bloomberg: Europe Trade Deficit Widens to Record on Exports, Energy Costs

[Skip to the end] What’s happening is the world desire to net accumulate euro financial assets has increased and can only be achieved by the rest of the world net selling goods and services (or real assets) to the eurozone. Europe Trade Deficit Widens to Record on Exports, Energy Costs by Fergal O’Brien Sept. 17 […]


Perspective by Steve Hanke US Mercantilist Machismo, China replaces Japan The United States has recorded a trade deficit in each year since 1975. That is a good thing – exports are real costs, imports benefits. This is not surprising because savings in the US have been less than investment. This is a tautology from the […]