The overheated Shanghai and Shenzhen markets have lost 29 and 32 per cent respectively over the past three weeks following 7-year highs reached on June 12.
Eurozone leaders are pouring it on thick again today with warning after warning.
Consumers came to life in May, as expected by the Bloomberg Econoday Consensus Estimate.
In the durable goods May forecast, the Bloomberg Consensus Economist's Estimate was well off the mark.
The NPR claims the most common job in 29 of 50 US states is truck driving.
The mad dash and perhaps last dash for euros in Greece is on. Some will undoubtedly be frozen out as soon as the ECB halts emergency liquidity assistance (ELA) to Greek Banks.
Following the rebound in consumer spending (heavily weighted to subprime auto sales), economists expected a rebound in Industrial Production.
Economists got one right for a change. Retail sales bounced 1.2% led by autos vs. the Bloomberg Consensus Estimate of 1.3%.
The Volcker Alliance, founded by former Fed chairman Paul Volcker has sounded an alarm over budget gimmicks. The alliance seeks Truth and Integrity in State Budgeting.
Investors in general do not give a rat's ass about gold.
A number of articles now circulating are all based on a 2013 study The Future of Employment: How Susceptible are Jobs to Computerization?
Last month, new home sales fell a very steep 11.4 percent to a 481,000 annual rate. Given the volatile nature of this series one might have expected a bounce in May and sure enough we got one, albeit not enough to wipe out April's dismal performance.
Inquiring minds are reading Fed Chair Janet Yellen's Outlook for the Economy speech, delivered today at the Providence, Rhode Island Chamber of Commerce.
Economists overestimated existing home sales on Thursday, rounding out another impressive day of overoptimism.
In yet another triumph of stupidity over common sense, a triumph that is sure to cost jobs, slow growth, and encourage more robotic replacement of workers, Los Angeles' Minimum Wage on Track to go up to $15 by 2020.
Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists Forecast: Here We Grow Again.
The Fed is struggling like mad to produce inflation, with little success on some fronts. Of course the Fed ignores asset bubbles in its measures.
Economists were surprised by the dismal retail sales report this morning. That's not surprising because economists are nearly always surprised.
Greece said it would make its payment to the IMF on time and it did, one day early in fact. How?
Wednesday's BLS release on Productivity and Costs shows a back-to-back decline in productivity accompanied with rising wages. Productivity is up year-over year, but barely, at 0.6%.