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April 19, 2013
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Comment Jim Bianco was on Bloomberg radio yesterday afternoon discussing the stock market, gold and the economy. To listen to the interview click below. Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/newsclips/2013/04/0418 bianco.mp3|titles=Bloomberg Interview ]
<Click on graphic for larger image> Tax Foundation – Tax Freedom Day® Arrives April 18th in 2013 Tax Freedom Day will arrive on April 18th this year, the 108th day of 2013, according to the Tax Foundation’s annual calculation. Americans will work well over three and a half months of the year before they have… Continue reading Today Is Tax Freedom Day!
The New York Times – New-Car Sales Fall 10.2% in Europe, Continuing Slump European new car sales contracted in March for an 18th consecutive month, led by declines in Germany and France, industry data showed on Wednesday. New vehicle registrations in the European Union fell 10.2 percent from a year ago, the European Automobile Manufacturers’… Continue reading Europe’s Crashing Auto Sales
The Financial Times – Austerity after Reinhart and Rogoff In 2010, two Harvard economists published an academic paper that spoke to the world’s biggest policy question: should we cut public spending to control the deficit or use the state to rekindle economic growth? “Growth in a Time of Debt” by Carmen Reinhart and Kenneth Rogoff… Continue reading More On Reinhart/Rogoff
The Financial Times – Gillian Tett: Wake up to the Twitter effect on markets A couple of weeks ago, the US Securities and Exchange Commission made one (belated) step in that direction: it declared companies are now allowed to distribute information via Twitter if this is part of a pre-announced policy. But there is far… Continue reading Twitter Is The New Tape
<Click on chart for larger image> The Wall Street Journal – Investors Pump Money Into a Range of Funds Long-term mutual-fund inflows rose by $4.83 billion in the latest week as investors added money across all categories except for municipal-bond funds, according to the Investment Company Institute. Inflows during the previous week were $8.83 billion.… Continue reading Mutual Fund Flows
Bloomberg.com – Central Banks Find Stimulus Glitter in Gold Slump The slump in gold may hand activist central bankers more reasons to pursue the easy monetary policy that helped drive up the metal’s price in the first place. Among many explanations for the biggest drop in more than 30 years: a fourth annual global growth… Continue reading Is More QE Possible?
The Wall Street Journal – China Vows Wider Yuan Movement China’s central bank plans to widen the yuan’s trading band in the near future, People’s Bank of China Vice Governor Yi Gang said Wednesday, suggesting that China’s leaders will press ahead with change despite the surprise slowing of the economy. “The exchange rate is going… Continue reading A More Freely Traded Yuan?
Bloomberg.com – How the Falling Yen Can Save the Euro Japan’s new bond-buying program amounts to a declaration of currency war against its trading partners, no matter how you sugarcoat it. Yet it may also prove constructive for the euro area, jolting Germany to at last adopt more growth-friendly policies. How else is Europe to… Continue reading How Japan’s Bond Buying Affects Europe
Bloomberg.com – Caroline Baum: A Falling Unemployment Rate Is Always Good If you were to step back and look at the U.S. unemployment rate, you would see that it moves in big, sweeping arcs, up and down. Yes, there can be small month- to-month reversals, but it has a clearly defined trend for an obvious… Continue reading Forget About The Participation Rate
<Click on chart for larger image> MoneyBeat (WSJ Blog) – Big Swings Return Brace yourself, volatility is making a comeback. The Dow has notched three straight days of triple-digit point swings, the first time that’s happened since late February. The S&P 500 has also averaged daily moves of 1.7% in either direction this week, more… Continue reading Volatility On The Rise