I have seen many grim predictions regarding robots taking away human jobs, but one of the most dire predictions comes from a study commissioned by ING-Diba.
Economists have been overly optimistic on the majority of economic reports for going on six months.
A BLS report out Thursday shows Compensation Costs up 0.7% December 2014-March 2015 and 2.6% over the year ending March.
Don't worry. The First Quarter GDP Disaster, released yesterday is transitory.
The Fed manufacturing surveys continue to disappoint. Today, the Richmond Fed reading came in at -3 matching the lowest guess on Bloomberg.
New orders in the Dallas Fed manufacturing survey came in negative for the sixth straight month today.
In a move 100% guaranteed to blow up at a later date, the ECB Said to Start Buying Covered Bonds With Negative Yields.
The Bloomberg consensus estimate for new homes sales was an overly-optimistic 518,000. Instead, it's bad news again as new home sales fell a very steep 11.4 percent to a 481,000 annual rate.
The amusing headline of the day comes from ECB Executive Board Member Benoit Coeure who told Greek newspaper Kathimerini on Wednesday in an interview ECB to Fund Greek Banks as Long as They Stay Solvent. Read more at http://globaleconomicanalysis.blogspot.com/#AQf5FjZIVOuiuzVI.99
Today a $295.7 million bond offering by the beleaguered Chicago Board of Education hit the market.
Robbing Peter to pay Paul took another leap forward in Greece today as Tsipras to Seize Public-Sector Funds to Keep Greece Afloat.
Citibank's Global Chief Economist Willem Buiter is another in a line of economic idiots (sorry, but no other word is more accurate) who call for abolishing cash and taxing deposits. Read more at http://globaleconomicanalysis.blogspot.com/#MEkIuZLem0cRWD1B.99
Greece is threatening to withhold payments to the IMF in in May and June. This time it does not sound like a bluff. And if it's not a bluff, we will finally know precisely when midnight occurs.
I received many questions and comments regarding Obama's Trans-Pacific Partnership Fiasco vs. Mish's Proposed Free Trade Alternative. While most do see Obama's Trans-Pacific Partnership (TPP) as a fiasco, many question my alternative proposal.
In response to Republican questioning on monetary policy and employment, Bernanke replied the Fed Already Follows Policy Rule.
Reader Richard asked me to comment on Obama's Trans-Pacific Partnership (TPP) proposal.
Futures were negative following Friday's dismal job showing but that lasted only as long as the the market open.
April 9th was one of the critical dates by which Greece was said to be out of cash. By now most expect these kinds of deadlines to come and go in belief the eurozone hat has an endless supply of rabbits.
Inquiring minds are investigating the Commerce Department report on International Trade in Goods and Services for February 2015, for clues about first quarter GDP.
I have long railed against fractional reserve lending, duration mismatches (e.g. banks issuing 2-year CDs and lending money for 15-year mortgages), bank's ability to lend money into existence, and deposit insurance.