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Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.
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Mike Shedlock (May 23, 2012)
Please consider an interview with Adam Fleming and James Turk on precious metals and mining. James Turk is founder of GoldMoney. Interview Synopsis
Adam Fleming,... more
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Mike Shedlock (May 22, 2012)
One chart is all it takes to prove a full-fledged European bank run on the banks is well underway in the Club-Med countries and Ireland.The below chart is from the Financial... more
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Mike Shedlock (May 20, 2012)
Italy Deploys 20,000 Law Enforcement Officers to Protect Individuals and Sensitive SitesThe Atlanta Journal Constitution reports Italy deploys 20,000 to protect sensitive... more
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Mike Shedlock (May 19, 2012)
Greek elections are set for June 17th following the impasse of the last election where no majority government formed.The "Destroy Greece to Save the Euro" clowns led by... more
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Mike Shedlock (May 18, 2012)
Courtesy of Google Translate, this time from Italy, please consider From the North-East and abroad, fleeing already 720 companies
Farewell, ungrateful Italy. In addition to... more
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Mike Shedlock (May 17, 2012)
Inquiring minds are reading an excellent report China Real Estate Unravels by Patrick Chovanec, a professor at Tsinghua University's School of Economics and Management in... more
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Mike Shedlock (May 16, 2012)
China bulls are in for a multi-year shock because rebalancing from an economy overly dependent on exports is going to be far more painful, and last much longer than most... more
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Mike Shedlock (May 15, 2012)
California, like Greece is perpetually in fiscal trouble. Overoptimistic revenue forecasts coupled with spending $2 billion more than expected has California in a deep hole.... more
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Mike Shedlock (May 14, 2012)
The BBC reports New election blow for Germany's Merkel
Chancellor Angela Merkel's conservatives have suffered heavy losses in an election in Germany's most populous state,... more
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Mike Shedlock (May 13, 2012)
Inquiring minds scoff at the preposterous Financial Times headline a ‘Glimmer of hope’ for Greek coalitionThe "Glimmer of Hope" that Financial Times writer Kerin Hope... more
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Mike Shedlock (May 12, 2012)
In response to 2.2 Million Go On Disability Since Mid-2010; Fraud Explains Falling Unemployment Rate I received a nice email from Madeline Schnapp, Director, Macroeconomic... more
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Mike Shedlock (May 11, 2012)
The latest LPS HPI Release suggests home prices are flattening out if not bottoming. Data is from February.Highlights
Nationally, February seasonally-adjusted prices rose... more
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Mike Shedlock (May 09, 2012)
Head Start, a preschool program for low-income kids has been a spectacular success, not for kids, but for teachers and teachers' unions.Please consider Miami-Dade County... more
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Mike Shedlock (May 08, 2012)
If you want to understand the reason PASOK went down in flames in a crushing defeat in Greek elections, simply look at the arrogance and gall of party leader Evangelos... more
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Mike Shedlock (May 07, 2012)
Preliminary exit polls are not good for the pro-austerity, keep Greece in the Eurozone at any cost coalition as 3 parties vie for top post
An exit poll commissioned by Greek... more
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Mike Shedlock (May 06, 2012)
Since mid-2010, precisely at the time millions of US citizens used up all of their 99 week of unemployment insurance, disability claims have risen by 2.2 million. Those on... more
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Mike Shedlock (May 05, 2012)
Quick Notes About the Unemployment Rate
US Unemployment Rate fell .01 to 8.1%
In the last year, the civilian population rose by 3,638,000. Yet the labor force... more
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Mike Shedlock (May 04, 2012)
Eurozone Markit Final Manufacturing PMI numbers were released yesterday. The results, as I warned months in advance, were decidedly not pretty.
Final Markit... more
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Mike Shedlock (May 03, 2012)
China manufacturing is reported to be in contraction and expansion simultaneously. The Chinese government reports expansion. The HBSC PMI says China is in contraction for the... more
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Mike Shedlock (May 02, 2012)
I listened to the debate today on Bloomberg between Ron Paul and Paul Krugman.
Link if video does not play: Krugman Says Fed ‘Reckless’ to Allow High Jobless RateI do not... more
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Mike Shedlock (May 01, 2012)
Illinois borrowing costs are poised to rise about 22.5%. The nominal increase is about .34 percentage points as reported by Bloomberg.
Illinois plans to sell $1.8 billion of... more
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Mike Shedlock (Apr 30, 2012)
The Pentagon is about to waste $1.5 trillion, 38% of entire defense budget for a "virtual flying piano". That may sound preposterous, and it is. Unfortunately, it is also... more
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Mike Shedlock (Apr 29, 2012)
In a report on fixed income, David Owen, Chief European Financial Economist at Jefferies, notes that demand for credit in Europe has plunged.Owen asks Is it the supply or... more
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Mike Shedlock (Apr 28, 2012)
The Advance Estimate for Q1 GDP came in at 2.2%, down from 3.0% in the previous quarter, and below most mainstream media estimates of 2.5%.However, my friend BC notes ....The... more
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Mike Shedlock (Apr 27, 2012)
Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman's proposals as "reckless".Bloomberg... more
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Mike Shedlock (Apr 26, 2012)
The USA Today reports graduating class of 2012 is in for a rude awakening as Half of new graduates are jobless or underemployed.
A weak labor market already has left half of... more
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Mike Shedlock (Apr 25, 2012)
Inquiring minds are listening to Marc Faber, aka Dr. Doom, on the global economy.
Link if video does not play: Marc Faber speaks of Imminent Market CrashFaber says China... more
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Mike Shedlock (Apr 24, 2012)
Governor Pat Quinn rammed through the largest tax hikes in Illinois history last year. On January 13, 2011, Governor Pat Quinn signed off on a 67% hike in personal income... more
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Mike Shedlock (Apr 23, 2012)
The Netherlands government has officially collapsed in a dispute over austerity measures. Elections likely in September. Meanwhile, the Czech government is also on the verge... more
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Mike Shedlock (Apr 22, 2012)
New border controls are another sign of increasing protectionism in European states. It was not supposed to be this way, yet these controls represent a Vote of No Confidence... more
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Mike Shedlock (Apr 21, 2012)
A close friend of mine since high school frequently writes for Foreign Affairs Magazine, the Small Wars Journal, and places like Janes's Defence Weekly.His latest article in... more
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Mike Shedlock (Apr 20, 2012)
Noted financial author Richard Duncan says Capitalism is Dead, Credit New King.
The world needs to clue in to changes to its economic system, including the death of... more
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Mike Shedlock (Apr 19, 2012)
The US and European embargo of Iranian oil is one of the factors behind the stubbornly high price of crude, trumping the huge slump in petroleum demand in the US. Although... more
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Mike Shedlock (Apr 18, 2012)
Employment in April normally picks up and Gallup surveys show a drop in the unemployment from last month not seasonally adjusted. However, by applying the seasonal... more
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Mike Shedlock (Apr 17, 2012)
Michael Pettis at China Financial Markets has Two Bets with the Economist.
Pettis bets growth in China will average less than 3.5% for the rest of the decade
Pettis bets... more
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Mike Shedlock (Apr 16, 2012)
As goes the French economy, so goes the reelection chances of French president Nicolas Sarkozy. Although Sarkozy leads in round one, polls show that lead is shrinking at a... more
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Mike Shedlock (Apr 15, 2012)
The proverbial can only be kicked so far before the can rusts away to nothing. That is what Police in Stockton, California have found out and that is what the pensioners in... more
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Mike Shedlock (Apr 14, 2012)
Reader Tim Wallace supplied an interesting set of graphs and comments on unemployment claims, the labor force, and employees covered by unemployment insurance.Unemployment... more
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Mike Shedlock (Apr 13, 2012)
Given all the hype from President Obama and Warren Buffet on "fair tax rates" (see Obama evokes Reagan in Touting Buffett Rule), inquiring minds are asking the critical... more
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Mike Shedlock (Apr 12, 2012)
Of all the inept policy moves in the midst of a clear depression, hiking taxes is right at the top of the list. Yet, that is the path Spain is on, because it will not meet... more
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Mike Shedlock (Apr 11, 2012)
Lollipops and Tantrums The Fed is much like a rotten mother who throws her spoiled brat a lollipop as a reward for a temper tantrum says John Hussman in yet another excellent... more
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Mike Shedlock (Apr 10, 2012)
The blatant hypocrisy and arrogance of president Obama, Nancy Pelosi, and Hillary Clinton in the video below is simple stunning.Caroline Baum on "Obama the... more
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Mike Shedlock (Apr 09, 2012)
Illinois has combined $137 billion in pension and healthcare liabilities on top of $9 billion in current unpaid bills. Yet, Illinois legislators will not even ask 6-figure... more
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Mike Shedlock (Apr 08, 2012)
In a much needed development U.S. Local Governments Cut Payrolls to Lowest Level Since 2006
U.S. local-government payrolls fell to the lowest level in more than six years in... more
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Mike Shedlock (Apr 07, 2012)
Quick Notes About the Unemployment Rate
US Unemployment Rate dropped .01 to 8.2%
In the last year, the civilian population rose by 3,604,000. Yet the labor force... more
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Mike Shedlock (Apr 06, 2012)
Here is an interesting email from reader "George" on his experiences with Romneycare.
Hello MishHere is my personal experience with socialized medical care in... more
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Mike Shedlock (Apr 05, 2012)
The UCLA Ceridian Pulse of Commerce Index based on real-time truck fuel usage rose slightly in March.
The Ceridian-UCLA Pulse of Commerce Index® (PCI®), issued... more
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Mike Shedlock (Apr 04, 2012)
Open issues abound on healthcare. Will the Supreme Court strike it down? If so, who is to blame? Who are the winners and losers? Will healthcare help or hurt the Republican... more
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Mike Shedlock (Apr 03, 2012)
Reuters reports Eurozone Unemployment Reaches Near 15-Year High
Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17... more
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Mike Shedlock (Apr 02, 2012)
Distressed cities are finally doing what they should have been doing long ago, declaring bankruptcy to force concessions from public unions. Numbers are still a trickle, but... more
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Mike Shedlock (Apr 01, 2012)
My friend Bran who lives in Spain writes ...
Hello MishHere are thoughts from the last couple of days on the strikes, protests, and violence in the wake of more austerity... more
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Mike Shedlock (Mar 31, 2012)
The Economist says "China’s GDP, measured in nominal dollars, will be the world’s largest by 2018". Michael Pettis at China Financial Markets disagrees and says I would like... more
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Mike Shedlock (Mar 30, 2012)
Not a single Democrat endorsed the budget proposed by president Obama. The scorecards reads as follows Obama budget defeated 414-0.
President Obama's budget was defeated... more
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Mike Shedlock (Mar 29, 2012)
Weak arguments presented by "team Obama" lawyers supporting Obama's healthcare legislation took a beating yesterday, and the beating continued even more so today.Please... more
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Mike Shedlock (Mar 28, 2012)
Inquiring minds are asking How does Paul Ryan's budget plan stack up against president Obama's budget plan, item-by-item? With thanks to Ross Perez and Lori Williams at... more
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Mike Shedlock (Mar 27, 2012)
Bernanke's blind faith in empirical formulas over common sense is again in play with his speech today on Recent Developments in the Labor Market.
In any given month, a large... more
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Mike Shedlock (Mar 26, 2012)
The granddaddy of property tax revolts is now underway in North Dakota.The North Dakota group, Empower the Taxpayer writes "On June 12, 2012, the voters of North Dakota will... more
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Mike Shedlock (Mar 25, 2012)
Ludicrous Taxifornia Healthcare ProposalCalifornia keeps up its insane attack on businesses of all kinds, this time with a proposal to force small businesses away from... more
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Mike Shedlock (Mar 24, 2012)
I have a pretty cool interactive map below that will let you graph the unemployment rates based on parameters that you can choose. First let's take a look at the current... more
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Mike Shedlock (Mar 23, 2012)
If you are looking for the most nauseating cover possible on Ben Bernanke, please consider the April 2012 issue of the Atlantic.The cover asks the question "Ben Bernanke... more
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Mike Shedlock (Mar 22, 2012)
Spanish Sovereign debt yields jumped again today following Restructuring Concerns expressed by Willem Buiter.
Spanish bonds fell, pushing 10-year yields to the highest level... more
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Mike Shedlock (Mar 21, 2012)
Wall of Supertankers Heads For USBrent crude at $125, US Crude at $110, and soaring gasoline prices everywhere have caused quite a stir. See Highest Price Ever of Gasoline in... more
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Mike Shedlock (Mar 20, 2012)
People have been calling a bubble in treasuries for at least a decade. The shocking result, especially to hyperinflationists, has been a stair-step decline in yields for 30... more
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Mike Shedlock (Mar 19, 2012)
I am pleased to report the end of collective bargaining at the national level. Unfortunately, I am talking about the UK, not the US, and also unfortunately, local wage... more
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Mike Shedlock (Mar 18, 2012)
JPMorgan analyst Adrian Mowat says Chinese Economy Already in 'Hard Landing'
“If you look at the Chinese data, you should stop debating about a hard landing,” Mowat, who is... more
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Mike Shedlock (Mar 17, 2012)
The latest BLS jobs report and the latest Gallup survey on jobs and unemployment are so out of line, that Gallup has commented on it in followup article Unemployment Numbers... more
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Mike Shedlock (Mar 16, 2012)
California Tax Revenue PlungesInquiring minds have noticed a huge plunge in California Tax Revenue for the month of February compared to February 2011.
The numbers below... more
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Mike Shedlock (Mar 15, 2012)
UK Chancellor George Osborne proposes 100-year bonds. Essentially his message is "I Will Gladly Pay You 100 Years From Now, For a Hamburger Today". Whether it's Tuesday of... more
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Mike Shedlock (Mar 14, 2012)
Various charts show home prices are now back to levels last seen in September-October 2002. I posted such a chart constructed from the LPS Home Price Index (HPI) in LPS Home... more
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Mike Shedlock (Mar 13, 2012)
French President Nicolas Sarkozy delivered an ultimatum to the EU on immigration, complete with a "Buy European Act" and a threat to suspend the Schengen Agreement that... more
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Mike Shedlock (Mar 12, 2012)
I am pleased to report that Republican candidate Doug Cloud has finally brought down Democrat Congressman Norm Dicks, ranking Democrat on the powerful House Appropriations... more
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Mike Shedlock (Mar 11, 2012)
The following chart shows U.S. petroleum and gasoline usage for December-February compared with the same three months in prior years. Chart is courtesy of reader Tim... more
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Mike Shedlock (Mar 10, 2012)
Quick Notes About the Unemployment Rate
In the last year, the civilian population rose by 3,584,000. Yet the labor force only rose by 1,569,000. Those not in the labor... more
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Mike Shedlock (Mar 09, 2012)
In tomorrow's BLS payroll report, economists forecast an increase of 225,000 private jobs and total non-farm payrolls growth of 210,000. ADP expects 216,000 private jobs. I... more
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Mike Shedlock (Mar 08, 2012)
U.S. home prices declines to a new low for the move and are back to a level last seen in September-October 2002 according to a LPS News Release.
The LPS HPI national average... more
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Mike Shedlock (Mar 07, 2012)
Under guise of helping homeowners, president Obama has finalized his plan to further aid banks. Please consider Obama's alleged Mortgage Relief Plan.
The White House on... more
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Mike Shedlock (Mar 06, 2012)
Markit Eurozone Services and Composite PMIs show renewed contraction due to drop in services activity, making it extremely difficult to deny that Europe is in a recession.... more
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Mike Shedlock (Mar 05, 2012)
On Monday February 27, I laid out the Mathematical Case for Brokered Convention. Since then, Michigan, Wyoming, and Washington have posted results. The table below reflects... more
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Mike Shedlock (Mar 04, 2012)
In hope-against-hope scenario, countries with balance-of-trade surpluses struggle to maintain it. Put Japan, Germany, Brazil, and China in that group. In that group, Japan is... more
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Mike Shedlock (Mar 03, 2012)
Taxpayers are already on the hook for $180 billion in losses at Fannie Mae and Freddie Mac. That number is going to rise, perhaps significantly. The clever synonym for more... more
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Mike Shedlock (Mar 02, 2012)
Ben Bernanke wants prices to rise 2%. There are numerous problems with such a proposal, the first being increases in money supply sometimes lead to asset bubbles and not... more
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Mike Shedlock (Mar 01, 2012)
A World Bank report to be released next week warns of an economic crisis in China unless state-run firms are scaled back. The Wall Street Journal discusses the report in New... more
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Mike Shedlock (Feb 29, 2012)
What's "too complicated" for France is not "too complicated" for Ireland. The Financial Times reports Ireland calls vote on European treaty
Dublin will hold a referendum on... more
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Mike Shedlock (Feb 28, 2012)
There are 2,286 republican delegates. It takes 1,144 delegates to win the Republication nomination. With four candidates remaining, many are wondering about the likelihood of... more
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Mike Shedlock (Feb 27, 2012)
It is possible if not likely we have to suffer through at least 11 more Groundhog days as Greece sets March 8 deadline for investors in bond swap.
Greece has set a March 8... more
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Mike Shedlock (Feb 26, 2012)
Bondholders of Stockton, California debt are about to be punished as City Manager Takes Steps Toward Bankruptcy.
Stockton, California, may take the first steps toward... more
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Mike Shedlock (Feb 25, 2012)
Bernanke is hell bent on producing price inflation. He has succeeded, just not where he wants most. What Bernanke desperately wants is for housing prices to rise because that... more
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Mike Shedlock (Feb 24, 2012)
The one and only thing that might possibly spare Greece the agony of a completely worthless currency is Greece's small hoard of 111 tons of gold.Pact With the DevilYet, in... more
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Mike Shedlock (Feb 23, 2012)
New Jersey governor Chris Christie has me laughing today with a pair of interviews. Please consider Governor Christie's Advice: Don't Send It To Them In The First Place
Now,... more
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Mike Shedlock (Feb 22, 2012)
As a point of curiosity, the Greek 1-Year Bond Yield touched 682% today, now down to a mere 666%. Bloomberg quotes the open as 566%, if correct, the one year yield soared 116... more
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Mike Shedlock (Feb 21, 2012)
Looking for another reason for an artificially low unemployment rate?Consider disability fraud, people claiming disabilities they do not have such as mental illness. Prior to... more
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Mike Shedlock (Feb 20, 2012)
Spain and Ireland have economies in shambles over housing bubbles popped long ago. Damage continues to mount. Here are a pair of stories highlighting problems.Bloomberg... more
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Mike Shedlock (Feb 19, 2012)
Given the previous misguided stimulus efforts in China, it is not surprising to discover Chinese Banks’ Bad Loans Rise in Fourth Quarter.
Chinese commercial banks’ bad loans... more
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Mike Shedlock (Feb 18, 2012)
The latest Gallup survey finds U.S. Unemployment Increases in Mid-February
Gallup only polls those 18 and above while the official BLS number includes 16 and above. Given... more
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Mike Shedlock (Feb 17, 2012)
John Mauldin posted an extraordinary interview by Kate Welling of Dr. Lacy Hunt, the chief economist of Hoisington Investment Management. Dr. Lacy Hunt correctly identifies... more
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Mike Shedlock (Feb 16, 2012)
European parliament member Nigel Farage blames Troika for the violence and destruction in Greece.Link if video does not play: Farage: Globalist Troika Driving Greece Towards... more
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Mike Shedlock (Feb 15, 2012)
Japan's 4th Quarter GDP Unexpectedly Contracts at 2.3% Annualized RateThe Financial Times reports Japan’s GDP shrinks in fourth quarter
February 13, 2012 Japan’s economy... more
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Mike Shedlock (Feb 14, 2012)
Coverage of the chaos in Greece is now everywhere I look. Here is a sampling of stories:The GuardianGreek protesters fight with police as parliament agrees cuts deal
As more... more
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Mike Shedlock (Feb 13, 2012)
The Financial Times reports Athens passes demanded austerity bill.
Greek lawmakers on Thursday approved a tough austerity package aimed at averting a default, but the vote... more
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Mike Shedlock (Feb 12, 2012)
It's interesting to watch some of the terms bandied about in headline news. For example, the LA Times headline reads S&P says student loan debt could be next financial... more
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Mike Shedlock (Feb 11, 2012)
I am saddened to report that Michael Pettis' site China Financial Markets has been blocked. The link redirects to a site with a one line message "This Account Has Been... more
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Mike Shedlock (Feb 10, 2012)
Joe Weisenthal writing for Business Insider reports Consumer Credit Demolishes Expectations, Grows $19 Billion.
It's hard to think that the economy is going into any kind of... more
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Mike Shedlock (Feb 09, 2012)
I nearly always disagree with Bernanke on monetary and fiscal policy. Specifically, the Fed ought not have a monetary policy for the simple reason the Fed should not... more
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Mike Shedlock (Feb 08, 2012)
Greece bailout talks were postponed on Friday to Saturday, then Saturday to Sunday, then Sunday to Monday, then Monday to Tuesday. They have been postponed again, this time... more
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Mike Shedlock (Feb 07, 2012)
Along with many others, I am pondering the latest employment numbers. Strong opinions are the norm.Many are steadfast in their interpretations, some critically so, especially... more
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Mike Shedlock (Feb 06, 2012)
Greek default drama is much like the movie Groundhog Day. If you prefer a quote from Yogi Berra instead, then please consider It's déjà vu all over again.Every day for weeks... more
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Mike Shedlock (Feb 05, 2012)
Greek default drama is much like the movie Groundhog Day. If you prefer a quote from Yogi Berra instead, then please consider It's déjà vu all over again.Every day for weeks... more
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Mike Shedlock (Feb 04, 2012)
Quick Notes About the "Falling" Unemployment Rate
In the last year, the civilian population rose by 3,565,000. Yet the labor force only rose by 1,145,000. Those not in... more
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Mike Shedlock (Feb 03, 2012)
On January 29 Bloomberg reported Bing Races to Beat Michigan Deadline for Union Detroit Deal
Democratic Mayor Dave Bing is racing to wrest concessions from 48 bargaining... more
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Mike Shedlock (Feb 02, 2012)
Today, under guise of helping "responsible homeowners" president Obama published details of Plan to Help Homeowners and Heal the Housing MarketKey Aspects of the President’s... more
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Mike Shedlock (Feb 01, 2012)
Courtesy of a Barclays Capital email here are the latest unemployment numbers in Europe.Euro Area: +0.2 to 10.4% based on slight upward revisions in November, September,... more
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Mike Shedlock (Jan 31, 2012)
The Financial Times reports Brussels hit by strike as EU leaders meet.
A general strike brought widespread disruption to Belgium on Monday, as European Union leaders... more
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Mike Shedlock (Jan 30, 2012)
Politics are heating up in France and Germany as French president Nicolas Sarkozy clings to his political life and German chancellor Angela Merkel is under increasing... more
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Mike Shedlock (Jan 29, 2012)
Europe has been on the "verge" of a deal for two weeks. However, a deal is meaningless if Germany insists on budget controls. Actually a deal now is meaningless even if... more
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Mike Shedlock (Jan 28, 2012)
The headline real GDP number of 2.8% does not sound too bad until you dig beneath the surface. A full 1.9 percentages points of that 2.8% was inventory replenishment. Real... more
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Mike Shedlock (Jan 27, 2012)
Steen Jakobsen, chief economist for Saxo Bank in Denmark has some interesting thoughts to share on gold and metals in an email update that just came in.Steen writes... more
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Mike Shedlock (Jan 26, 2012)
Inquiring minds are reading the complete text of President Obama's State of the Union Address to see what distortions, lies, and hypocrisy it contains. I found a nice... more
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Mike Shedlock (Jan 25, 2012)
A pair of articles by Austrian economist professor Antal E. Fekete just might have one wondering who is more in the loony bin, mainstream economists like Krugman or those... more
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Mike Shedlock (Jan 24, 2012)
Fannie Mae and Freddie Mac have already cost US taxpayers over $200 billion. If Obama gets his way on mortgage writedowns, the GSEs estimate it would take another $100... more
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Mike Shedlock (Jan 23, 2012)
In spite of a carefully timed announcement by Newt Gingrich's ex-wife Marianne on an "Open Marriage, Mistress Proposal", Gingrich rallied from a 16 point deficit on January 3... more
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Mike Shedlock (Jan 22, 2012)
For weeks we have been hearing "agreement soon" on Greek bond haircuts. The theme for the day today as it was yesterday and as it was a week ago is "tomorrow".One problem... more
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Mike Shedlock (Jan 21, 2012)
Every week someone sends me an idea on how to fix various housing problems.
Many want home prices to stop falling and many others want to bail out homeowners because... more
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Mike Shedlock (Jan 20, 2012)
Latest polls show French President Sarkozy is losing ground to right-wing anti-euro candidate Marine Le Pen in the first round of the France presidential election. Via Google... more
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Mike Shedlock (Jan 19, 2012)
Here's a dead on arrival proposal: IMF Proposes Trillion Dollar Lending Expansion
Most European stocks rose, erasing earlier losses, as the International Monetary Fund was... more
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Mike Shedlock (Jan 18, 2012)
Bob Bronson makes the claim on the Big Picture Blog that Initial Unemployment Claims Confirm Unfinished Market Rally
click on any chart in this post for a sharper... more
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Mike Shedlock (Jan 17, 2012)
A Greek default appears likely soon as Greece Dispatches Officials to US Over Default Fears.
Greece sent senior officials to Washington on Monday for meetings with the... more
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Mike Shedlock (Jan 16, 2012)
In an effort to halt expansion of Japan's massive public debt, Japan's Prime Minister Seeks Doubling National Sales Tax.
Prime Minister Yoshihiko Noda said containing... more
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Mike Shedlock (Jan 15, 2012)
Hoping to seize the deficit reduction initiative from Republicans (it does not take much because Republicans have no proposals on the plate) President Obama is out to prove... more
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Mike Shedlock (Jan 14, 2012)
Inquiring minds are digging into the Ceridian-UCLA Pulse of Commerce Fuel Index for December 2011 report released today.
The Ceridian-UCLA Pulse of Commerce Index®... more
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Mike Shedlock (Jan 13, 2012)
Following all the glowing retail sales reports for Christmas, the actual numbers reported today show a mere .1% rise. Excluding autos which rose 1.5%, retail sales actually... more
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Mike Shedlock (Jan 12, 2012)
The Greek economy is now totally and completely dysfunctional. The government has resorted to price controls on goods to contain costs. However, price controls do nothing but... more
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Mike Shedlock (Jan 11, 2012)
Chinese stock have been on a 2-day tear as Premier Wen Jiabao has come flat out in support of the stock market.Moreover, money supply in China is up the most since last April... more
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Mike Shedlock (Jan 10, 2012)
A major part of the United States' misguided policy on ethanol usage came to an end as the $6 billion-a-year ethanol subsidy dies
America's corn farmers have been... more
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Mike Shedlock (Jan 09, 2012)
Bloomberg reports Euro Drops in Longest Losing Streak Since 2010 on Debt Turmoil
The euro fell for a fifth week versus the dollar in its longest losing streak in almost... more
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Mike Shedlock (Jan 08, 2012)
It is amusing to see how other writers portray a story vs. what I would say about the same data.For example, Bloomberg columnist Rainer Buergin reports German... more
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Mike Shedlock (Jan 07, 2012)
Retail sales are up but profits are down as noted in Profit Warnings at Target, Kohl’s, J. C. Penney, American EagleHowever, shrinking profits are one thing, huge losses... more
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Mike Shedlock (Jan 06, 2012)
As I watch political events in Hungary, I cannot help but think Hungary is on a path towards hyperinflation.Please consider Der Spiegel report 'Democracy Is Being Trampled On... more
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Mike Shedlock (Jan 05, 2012)
Inquiring minds might be wondering what is the best way forward for Greece. To some extent, the question is akin to asking "would you prefer to lose a one hand and one eye or... more
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Mike Shedlock (Jan 04, 2012)
With everyone watching debt rollovers in Europe, let's instead take a look at the total global debt rollover and debt issuance problem. Bloomberg reports World’s Biggest... more
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Mike Shedlock (Jan 03, 2012)
In 9 Things to Say Goodbye To, I lamented on the loss of privacy and free speech.Unfortunately, the situation is much worse, thanks a huge group of senatorial cowards that... more
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Mike Shedlock (Jan 02, 2012)
Courtesy of Google Translate, please consider Rajoy approves the biggest cut in history and a large tax increase
Everyone knew it. Above all, Mariano Rajoy , who had... more
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Mike Shedlock (Jan 01, 2012)
Shortly before Christmas I did a video discussion of 2011 with Max Keiser with a look-ahead to a few ideas for 2012.
Part of the discussion was a recap of some of my call... more