Mike Shedlock

Posted August 30, 2014

Mainstream media headlines in the last two days offer an amusing look at GDP forecasts.

Posted August 29, 2014

Every day, the cost of a plane ticket out of Venezuela goes up. That assumes you can get a plane ticket, and you probably cannot, even if you booked three months ago.

Posted August 28, 2014

If Nicholas Sarkozy won the last presidential election instead of Francois Hollande, there would be no investigation. Is Lagarde guilty of anything?

Posted August 27, 2014

I do not support a VAT, but as long as we are going to have taxes at all (and we are), then we need to make them as fair as possible. A broad-based consumption tax on everything but food and medicine would do exactly that.

Posted August 26, 2014

Economy minister Arnaud Montebourg stepped over the line last weekend criticizing the policies of president Francois Hollande. Some sources report that prime minister Manuel Valls gave Hollande a "him or me" ultimatum, but Valls disputes that claim.

Posted August 25, 2014

Central banks are generally clueless about the state of the economy. This has been proven time and time again.

Posted August 24, 2014

As a result of Obamacare Medicaid expansion coupled with means-tested Obamacare assistance, I estimate welfare rolls expanded from 35.4% of the population in 2012 to about 40% in 2014.

Posted August 23, 2014

As noted in German Two-Year Bonds Have Negative Yield, Demand High; Euro Bond Bubble Guaranteed to Burst, " Banks lend (provided they are not capital impaired), when credit-worthy borrowers want credit and banks perceive risks worth lending."

Posted August 22, 2014

The "recovery" news in Spain keeps piling up. Via translation from El Economista, Government has already taken 37% of the total 'pensions piggy bank'. If extractions continue at the current rate, the fund would be exhausted in 4 years.

Posted August 21, 2014

Turnout in some Los Angeles elections is so low that LA Considers Giving Citizens Lottery Tickets if they Vote.

Posted August 20, 2014

Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the "Idiot's Guide to Austrian Economics'. Ironically, that is not exactly what Tamny set out to do.

Posted August 19, 2014

Given the huge numbers of people employed in food industries, especially fast food, a growth area for food robotics seems relatively easy to spot.

Posted August 18, 2014

The biggest winners are states involved in energy production, finance, or healthcare. The biggest losers are states that did not recover from the real estate bust, or lost population due to emigration.

Posted August 17, 2014

You can make $15 an hour at McDonald's, at least in Seattle. You just have to perform better than this machine.

Posted August 16, 2014

Not only is support for sanctions in Europe crumbling, so is support for alleged austerity. I say alleged because there really hasn't been any austerity.

Posted August 15, 2014

The recovery in Europe, not that there was ever much of one, is now over. As expected in this corner, Germany Contracts and France Stagnates in Second Quarter.

Posted August 14, 2014

In response to New Yuan Loans and Shadow Banking Collapse in China; Record Bank Deposit Slump reader "CF" from Hong Kong who works in China explains how he is pulling every cent he can out of renminbi (yuan) , converting instead to Hong Kong dollars.

Posted August 13, 2014

Supply of homes at the bottom-third of the market is down 17 percent from a year ago. Meanwhile the top-third home supply is up 15 percent while the middle is up a modest 3 percent according to Redfin.

Posted August 12, 2014

Kurdish territory in Iraq is the only pro-American territory left. Yet the US worries it will splinter off into Kuridistan. Apparently it's better to have a raging civil war as long as the country stays together in one theoretical piece.

Posted August 11, 2014

According to Hillary (and senator McCain) things would have turned out better if only we trained more rebels and gave them more military equipment as well.

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