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The FED’s Recovery: Tepid, at Best

Posted on February 28, 2015

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By David Stockman The most important number in today’s Q4 GDP update was 2.3%. That’s the year/year change in real final sales from Q4 2013. As an analytical matter it means that the Great Slog continues with no sign of acceleration whatsoever. Indeed, the statistical truth of the matter is that this year’s result amounted to a slight deceleration—since […]

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China’s Economy Is Slowing

Written by Gary North on February 2, 2015

chinese-economy

Around the world, economies are slowing. This includes China. Keynesians are terrified of price deflation. The idea that consumers should benefit from falling prices is anathema to them. They are horrified at what is happening. They want central banks to inflate even more. The risk of global deflation looms large for 2015 as surveys of […]

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India’s Economy Is Slowing

Written by Gary North on February 2, 2015

indian-economy

As always, the Keynesians want lower interest rates on short-term loans. Rates are lower than they have been since the 1930’s, but this is not low enough for Keynesians. They want more central bank inflation to force down rates. They think another fraction of a percentage point cut will get the world’s economy growing strongly […]

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America Is Losing Its Entrepreneurial Edge

Posted on January 21, 2015

tony-sagami

By Tony Sagami I’ve been self-employed since 1998, and let me tell you, the life of a business owner isn’t easy. It’s filled with long hours, a relentless amount of paperwork, and uncertainty over where your next paycheck will come from. If you’ve ever owned a business, you know exactly what I’m talking about. Difficult […]

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Oil Bust: “Sell North Dakota; Buy Cleveland.”

Posted on January 7, 2015

Brent crude oil prices fell below $50 a barrel for the first time since May 2009 on Wednesday as global business growth slowed to its weakest in a year, and analysts said a growing supply glut meant more falls were likely. The pace of global business growth eased to its weakest rate in over a […]

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Bubble Indicator: “Sell New York; Buy Cleveland.”

Posted on January 7, 2015

The average apartment price in Manhattan hit a record $1.72 million in 2014, as the New York wealthy and overseas rich continue to seek safety in the New York skyline. While sales volume is slowing, prices continue to rise in New York as strong demand competes for historically low supply. The average sale price for […]

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Dining With Scrooge

Written by Gary North on December 25, 2014

christmas-carol

I have endeavoured in this Ghostly little book, to raise the Ghost of an Idea, which shall not put my readers out of humour with themselves, with each other, with the season, or with me. May it haunt their houses pleasantly, and no one wish to lay it. — Charles Dickens (December, 1843). Little did […]

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Blaming the Geezers, Not the State

Written by Gary North on December 22, 2014

geezers

The prestigious Financial Times offers an explanation for the West’s pessimism.  It blames aging. It does not blame Keynesianism. It does not blame a loss of faith in the idea of progress, a factor that Robert Nisbet warned against in the Epilogue to his great book, History of the Idea of Progress (1980). It does […]

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Putin Does a Great Herbert Hoover Imitation

Posted on December 18, 2014

putin

President Vladimir Putin said on Thursday Russia’s economy would rebound after the ruble’s collapse against the dollar but warned that it could take two years for the country to emerge from crisis. Under pressure to show he has a plan to pull Russia out of crisis at his end-of-year news conference, Putin supported the actions […]

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