Mike Shedlock

Posted March 03, 2015

Illinois gets the blue ribbon for being the lowest-rated state. However, credit raters differ on Chicago.

Posted March 02, 2015

To add insult to injury, Chicago may owe Wall Street $58 million after Moodys rating cut.

Posted March 01, 2015

Fourth quarter GDP was revised lower this week to 2.2 percent from 2.6 percent previously estimated.

Posted February 28, 2015

In 2006-2007 I called for a recession. We got a big one. I called for another one in 2011, as did the ECRI. That recession never happened. 50% is not a very good recession predicting track record , but consensus opinion is batting a perfect 0.00%

Posted February 27, 2015

Right-to-Work legislation is sweeping the Midwest. It's one of many reforms needed to makes states more competitive, reduce cost pressures on infrastructure projects, and hold down the necessity of tax hikes.

Posted February 25, 2015

Wal-Mart decided on its own accord it could not attract the quality of people it needs at $7.25. That says nothing about Costco or McDonald's.

Posted February 24, 2015

In what may be a first (otherwise an extreme rarity), a substantial force within a union has mobilized against a pay hike to $9.00 per hour from essentially nothing.

Posted February 23, 2015

On Friday, Prime Minister Alexis Tsipras backed down on nearly every promise made to the Greek electorate except one, to stay on the euro. After so much tough rhetoric, the question is why?

Posted February 21, 2015

If there's really a deal, then Greece bought time to speed up tax collections. In turn, that would strengthen its hand four months from now when this process starts all over.

Posted February 19, 2015

It's likely make-or-break for Greece in the next two days.

Posted February 17, 2015

Talks between Greece and eurozone officials were expected to last through the night. Instead Greece Bailout Talks Collapsed in Acrimony after a mere four hours.

Posted February 16, 2015

Right now, there are virtually no incentives anywhere in the system for people to lower costs. Put incentives in to lower costs, and costs will come down.

Posted February 15, 2015

In spite of the "recovery" in Spain, close to 24% are still unemployed. That statistic explains Pessimism in the Streets.

Posted February 13, 2015

At midnight, Greece turns into a pumpkin. The clock is clearly ticking but is this the 10th or 11th hour?

Posted February 12, 2015

The Illinois Chamber of Commerce recently took interesting, as well as contradictory, positions regarding the minimum wage and Right-to-Work legislation.

Posted February 11, 2015

By forcing down interest rates and encouraging more lending, debts of all sorts keep piling up with no realistic way of paying those debts off.

Posted February 10, 2015

In regards to spending, if consumers really do slow spending, it will be yet another knock on the 1st quarter 2015 GDP report.

Posted February 09, 2015

Reuters notes that China is expected to lower its GDP target to around 7 percent this year, after posting 7.4 percent in 2014 - the slowest pace in 24 years. I will take the "under".

Posted February 08, 2015

Wages rebounded from the dip last month (but don't get too excited as per details below). Also, there were big upward revisions to many prior numbers.