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Tag Archives: Uncategorized

Black Friday, Trump comments, Dallas Fed Survey

Total Black Friday sales down vs last year:http://www.reuters.com/article/us-usa-holidayshopping-idUSKBN13L0ZH?il=0 The Trump thing looks to be going to go from bad to worse. I understand that sometimes it makes sense to vote in the village idiot. But then you do have to deal with him being the President. It’s like having an 8 year old loud mouthed spoiled brat boy king without a regent. So my advice is to not get your hopes up too high for anything rational coming out of the...

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Rail week, Trucking data, Bank lending

http://econintersectllc.cmail2.com/t/r-l-yhuudyld-jutdvkyuh-jy/ http://econintersect.com/pages/releases/release.php?post=201611250637&utm_medium=email&utm_campaign=Daily%20Global%20Economic%20Intersection%20Newsletter%20Feed&utm_content=Daily%20Global%20Economic%20Intersection%20Newsletter%20Feed+CID_2c6311bc7e868470eee44c0357c5f143&utm_source=newsletter&utm_term=Trucking%20Data%20Mixed%20In%20October%202016 Not looking good: ...

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Trade, Composit PMI, Credit check

Higher trade deficit than expected, and last month revised higher. And just getting going: Highlights The advance international goods deficit widened to $62.0 billion in September from minus $56.5 billion in August. The increase in the deficit was bigger than the anticipated deficit of $59.7 billion. Exports were down 2.7 percent on the month while imports increased 1.1 percent. In August exports increased 0.6 percent while imports declined 1.0 percent. The biggest decline...

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The disconnect in the US between productivity and wages

Since 1975 workers have received almost none of the gains of increased productivity, which has increased by 143% since around 1975 (figure 14). In other words, productivity has more than doubled, while workers received none of the gains. This can be explained by the deindustrialization of the US economy, as heavy industries followed by manufacturing in general were exported to Asia. Due to this trend there was a huge decrease in unionization which went from 39% in 1940 to around 10% in...

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P3: Impact of Keynes

from Asad Zaman This 1000 word article is the third in a series of posts on Re-Reading Keynes. It traces the impact of Keynesian theories on the 20th century, as necessary background knowledge for a contextual and historically situated study of Keynes. It was published in Express Tribune on 4 Nov 2016. The Global Financial Crisis (GFC) has created awareness of the great gap between academic models and reality. IMF Chief Economist Olivier Blanchard said that modern DSGE macroeconomic...

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Class before Trumponomics, part 1

from David Ruccio Right now, after Donald’s Trump surprising victory and in the midst of the messy transition, everyone is curious about how the U.S. economy will change if and when the president-elect’s economic policies are enacted.* But first things first. We need to have a clear understanding of what the U.S. economy looks like now, during the uneven recovery from the Second Great Depression. In particular, it’s important to analyze the class dimensions of that recovery, even before...

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Weak political leadership got us into this Brexit mess, weak economic leadership will leave us in it

Image from Jeff Djevdet – Flickr It will take Big Money to steer Britain through this rocky period. Instead, Chancellor Hammond has promised to continue slashing the very departmental expenditure essential to smooth the path. We must conclude that he does not wish to invest in a safe Brexit at all. We live in perilous times. The demand by millions of people for protection from austerity and globalisation has fuelled support for extreme right-wing parties across the world. The possible...

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How Trump theft hurts you: thoughts to chew on over Thanksgiving dinner

from Dean Baker Donald Trump has basically come right out said that he intends to use the presidency to further enrich himself and his family. After refusing to follow long-established precedent and put his assets in a blind trust, he proclaimed, “the president can’t have a conflict of interest.” Of course the president absolutely can have a conflict of interest as speakers of the English language use the expression. If a president owns a large business empire, as does Mr. Trump, there...

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Redbook retail sales, Mortgage purchase apps, PMI manufacturing, Consumer sentiment, New home sales

Notable only in that analysts are calling the latest 1% increase ‘strong growth’… First a big move down, now a rush to get in ahead of fed rate hikes. But still remains depressed by historical standards: Highlights Rising interest rates are causing some volatility in mortgage activity, with purchase applications for home mortgages increasing by an outsized, seasonally adjusted 19 percent in the November 18 week after falling 6 percent in the prior week, while refinancing...

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Existing home sales, UK headline, Vehicle sales, India, Trump tweeting

These sales are reported based on actual closings, and they look to have flattened around the 5.5 million/yr rate. But that was before lenders hiked mortgage rates due to Trumpenomics frears, and mortgage purchase apps did drop a full 6% last week. And this number is not ‘population adjusted’: Talk about cheerleading- the order book remains in contraction: UK Factory Orders Rise in November: CBI The Confederation of British Industry order book balance rose to -3 in November...

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