Mike Shedlock

Posted April 24, 2014

If the home sales decline was weather related, then why were sales up in the Northeast? I suggest the Fed managed to blow another housing bubble, especially in California and the West where sales are down the most.

Posted April 23, 2014

ECB president Mario Draghi has been making lots of noise recently about cutting interest rates because the euro is too strong and banks aren't lending enough.

Posted April 22, 2014

Those who think a collapsing currency is a sure-fire way to increase exports need to rethink their beliefs.

Posted April 21, 2014

If extreme sanctions are put on Russia, then Russia will cut off all gas to Europe and likely default on all foreign denominated bonds.

Posted April 20, 2014

Now the legislature wants to waste $100 million for a Barack Obama Library.

Posted April 19, 2014

In "Insatiable" the Economist says "The cost of stopping the Russian bear now is high—but it will only get higher if the West does nothing".

Posted April 18, 2014

If the separatists are acting on their own, then unless Russia or someone else can convince the separatists to lay down their arms, the accord will break down.

Posted April 17, 2014

The biggest things Spain needs to do are cut public spending and public employment, and lower taxes. Instead, it is raising taxes on those with real jobs.

Posted April 16, 2014

Yesterday, the government of Ukraine moved with force against the separatists, evoking a Specter of Civil War.

Posted April 15, 2014

There is no sign of tension easing in the Ukraine today. Russia promises to protect the protesters from violence as the Separatists Defy Ukraine Deadline.

Posted April 14, 2014

In response to the violence and threats of further violence Russia Seeks UN Meeting

Posted April 13, 2014

Expect Putin to quickly change his mind about shutting the pipeline if Ukraine does indeed refuse to pay. He will have a legitimate reason.

Posted April 12, 2014

Bridgewater Associates did an analysis of pension funds recently and concluded 85% of them will fail if returns average 4%. Bridgewater notes that public pensions have just $3 trillion in assets to invest to cover future retirement payments of $10 trillion over the next many decades.

Posted April 11, 2014

The Los Angeles 2020 Commission studied amongst other things the sorry state of LA's pension mess. In a case of can-kicking extraordinaire, its recommendation was to appoint another commission to further study the problem.

Posted April 10, 2014

One by one the bears and the rational thinkers throw in the towel. Economist Robert Shiller is the latest to drink the Kool-Aid.

Posted April 09, 2014

Today, another fistfight between pro-Russia separatists and loyalists broke out in parliament. On Sunday Pro-Russian protesters seized state buildings in three east Ukrainian cities. The Ukrainian government says separatists rigged a building in Luhansk with explosives, a claim the separatists deny.

Posted April 08, 2014

Further compounding president Francois Hollande's problem with the European Commission Rejection of France's Proposal for Deficit Target Leniency, the socialists are in open revolt against new Prime Minister Manuel Valls.

Posted April 07, 2014

It will be amusing to see what sleight of hand magic Hollande proposes in its next budget proposal to Brussels.

Posted April 06, 2014

Is there any central bank governor anywhere that can spot speculative bubbles before they burst? Apparently not.

Posted April 05, 2014

Thanks to Fed printing presses coupled with an extreme case of irrational exuberance, those over 40 years old have recovered losses from the great financial collapse. However, Millennials Remain Mired in Wealth Gap, as Others Recover...