Real Time Economics (WSJ Blog) – Why Housing Won’t Save the U.S. Economy New home sales during the first quarter stood at their highest level for any first quarter since 2008, boosting hopes that housing could help power the economy through a painfully slow recovery. But in a new essay being presented this week, Amir… Continue reading Housing & The Wealth Effect, Why It Is Not Happening
<Click on chart for larger image> The Wall Street Journal – Spanish Unemployment Rate Hits 27.2% Unemployment in Spain rose to an all-time high of 27.2% of the workforce in the first quarter, a sign that government efforts to stem the rate of job destruction amid a deepening recession have yet to make a significant… Continue reading Joblessness In Spain
MoneyBeat (WSJ Blog) – As Stocks Churn, Rotation Brews After a blazing start to the year, defensive stocks are finally cooling off. Over the past week, some of the less economically sensitive pockets of the market – such as health care and consumer staples – have lagged, while cyclical stocks have helped push the market… Continue reading Which Stocks Are Leading The Rally?
The Wall Street Journal – European Bonds Are Defying Gravity The bond markets and the economies of Europe’s struggling countries tell two very different stories this year: One is rallying; the other, sinking. In July 2012, Italian 10-year bonds yielded more than 6%; this week they fell below 4%. Falling yields mean rising prices. The… Continue reading European Bonds
Bloomberg.com – Central Banks Load Up on Equities as Low Rates Kill Bond Yields Central banks, guardians of the world’s $11 trillion in foreign-exchange reserves, are buying stocks in record amounts as falling bond yields push even risk- averse investors toward equities. In a survey of 60 central bankers this month by Central Banking Publications… Continue reading Central Banks Buy Equities
The Wall Street Journal – Wheels Are Falling Off the Supercycle Have we fallen off the cycle or is the bike broken? Since 1998, commodities have been in a bull market—the so-called supercycle, where surging demand for raw materials eclipses supply, juicing prices to abnormal highs. Lately, though, it has been all downhill for commodities.… Continue reading The Commodities Supercycle
The Telegraph – Euro may only last five years, says senior German government advisor In notably outspoken remarks for a senior German figure, Dr Konrad, chairman of a scientific council that advises the finance ministry, said: “Europe is important to me. Not the euro. And I would only give the euro a limited chance of… Continue reading Predicting The Euro’s Demise
Zero Hedge – CNBC Viewership Plunges To Eight Year Lows By now it is well known that the ubiquity of central planning (not to mention the persistent threat of HFT flash crashes as exhibited by yesterday’s twitter-driven #Hash crash) in capital “markets”, has made trading stocks in a rigged casino a sucker’s game – one… Continue reading CNBC’s Bear Market
Real Time Economics (WSJ Blog) – New $100 Bill to Go Into Circulation in October A redesigned $100 bill is headed for wallets after printing glitches delayed production by two years. The new bill will be issued on Oct. 8, the Federal Reserve said Wednesday. It incorporates several new security features, including a blue three-dimensional… Continue reading New $100 Bill To Circulate In October
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Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/503842-687791.mp3|titles=Conference Call] Topics Covered This Week Include: Struggling To Get To Potential What Is Expected For The Economy? 2013 Expectations The Trend In Economic Surprises Earnings Outlook – Poor Now, Hope Later Q1 2013 Earnings Scorecard Guidance Going The Wrong Way Revenue Outlook – Going The Wrong Way… Continue reading Conference Call Presentation/Charts of the Week
Pew Research – A Rise in Wealth for the Wealthy; Declines for the Lower 93% During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93%… Continue reading QE Is Not Working