Economists expected manufacturing activity in the Richmond Fed region would bounce into positive territory this month.
The manhunt continues in Belgium and other parts of Europe for one of the planners of the Paris terror attacks. This would be a great time to zero in on economic woes in Europe that not only persist, but also have opened the door to terror. In many ways, we could say that the welfare state replaced not only traditional capitalism, but it also allowed and encouraged the entire continent to forego population growth.
Although we have about five weeks left in 2015, its never too early to start thinking about what is on the horizon for next year.
The bond futures market recently was pricing in a 70% chance of a Fed rate hike at the upcoming December Federal Open Market Committee (FOMC) meeting. That was before the bottom fell out again in the oil sector, China PMI came in down for the 44th straight month and the retail space was hit with a wrecking ball after Macys and Nordstrom gave bearish outlooks for the holiday shopping season.
Last Thanksgiving, we presented a chart featuring a spurious correlation between the average live weight of U.S. farm raised turkeys and the MSCI World Stock Market Index, in which we showed how U.S. turkeys predict global stock market crashes. Here's what we wrote at the time....
The growing public pension funding crisis facing most of our cities and states leaves the important decision-making constituencies elected officials, fund managers, and union representatives - in the precarious position of we have to do something, but what?
Dear Dave, How do you have a wedding without debt?
Home prices are nearly back to where they were before the crash. In some places, home prices are above where they were at the peak of the national boom.
The Wall Street Journal calls it populism ("Populism Rises in GOP Race," Page 1, November 12, 2015), but you could just as well describe populism as what it has always been since it was all the rage -- and I mean rage -- as it swept the Great Plains in the wilder years of the late 19th and early 20th centuries.
DEAR BRUCE: I don't understand "laws" that give tenants in rental buildings more rights than the owners of the buildings.
Over the last several years, gurus and pundits have been predicting that the U.S. dollar will collapse. Many of these experts believe that the greenback will soon be replaced by the Chinese yuan as the worlds leading reserve currency.
Terrorist attacks in Paris and elsewhere will have lasting corrosive consequences for Europes economies and the foundations of its democracies.
A couple of weeks ago we heard from homeowners who were remodeling their master bath and couldn't decide between a fancy shower or a tub/shower combination. Some years ago this column threw that same question open to readers, who voted almost exactly 50/50 on "would you buy a house with no bathtub?"