Another CEO Calls The Recession Ball
The head of Dow Chemical (DOW) says that the consumer is toast. The price of crude oil and other commodities are just too high. "Inflationary pressures on the consumer through gasoline prices and food…
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If you are hoping for already-low interest rates in the U.S. to go lower, you better look at the FOMC minutes from the last meeting. In the minutes, even though the FOMC noted that…
National Association for Business Economics Call For Prolonged Problems
National Association for Business Economics members say that the housing disaster and credit problems "might" get better this year. The economic downturn and job losses could go on much longer. According to the AP…
Big Asia Money See “Sucker Rally” In Region
Asian markets are way up since March. Investors hope that the region has dodged the bullet of a slowdown in the West. A sharp recession in America could cause a drop in demand for…
Economic News: A Cloud That Lacks A Silver Lining
Late news out of the economy track system is that the buildings are collapsing all around. After Goldman Sachs (GS) panicked and said that oil would rise to $141, crude immediately spiked to $128…
As UK Inflation Rises, A Ripple In US?
The CPI showed that prices for food rose .9% in April, the most in 18 years. Overall, total inflation was more muted and the market was relieved. In the UK, the picture was not…
CPI Looks Great, Just Avoid Gas Stations and Grocery Stores
April CPI was released from the Labor Department with a nominal rate of +0.2% and a core rate of +0.1%. According to Bloomberg estimates, those expectations were +0.3% on nominal CPI and and +0.2%…
US Food Price Inflation Gets Out Of Hand
The cost of food in the US was up .9% last month, the highest increase in 18 years. The news reinforces the concern that the rising price of agricultural commodities is taking a toll…
Tax Rebates Can’t Rescue The Economy
For someone who buys 600 gallons of gas at a price per gallon which is $1 higher than it was last year, a $600 federal tax rebate is not much comfort. Merrill Lynch sees…
Is Financial Recovery A Mirage?
There is a new feeling suffusing the financial markets that the worst of the credit crisis is over. The Fed has done most of its work. US citizens are about to get their tax…
Soros Agonistes
George Soros has taken the unpopular side of many economic bets over the years. He has not only lived to tell the tales. He has made himself and his investors untold billions of dollars…
In Toyota (TM): The World Economy In A Bucket
Toyota (TM) said its earnings fell 28% in the fourth quarter. It blamed the Yen and a slow car market in the US. Although no one was surprised, the figures were worse than most…
Will Productivity Gains Boost Layoffs?
This morning was strange on the economic number cycle as far as firstquarter worker productivity is concerned. The Labor Departmentreleased a figure of non-farm business worker productivity measured asper-hour output being up by +2.2%. …
Credit Crunch Starts To Hurt Small Business
One of the largest credit card providers to small business, Advanta Corp, took some big write-downs last quarter. According to CFO Magazine "Recent studies and reports from lenders show that small businesses are either…
Could A 2008-2009 Recession Wipe Out Seven Million Jobs?
Based on the figures from the Bureau of Labor Statistics, US unemployment was 5% in April. Those figures showed that 146.3 million Americans were employed in the civilian work-force and 7.6 million Americans were…