Debt is a rock, and spending reform is a hard place. The taxpayers of today and tomorrow are saddled with crushing obligations. Yet we must watch helplessly as leadership in Washington DC continues expanding government — borrowing what they can and simply printing what they cannot. Each day more Americans sense a reckoning is coming….
I have highlighted the more relevant items with green being positive and red not so much. Not a bad report, but there is slight deceleration in the workings of this ISM and that is notable in light of the strong USD. Review the entire report here. January PMI from ISM
QUESTION: Marty, your insight into the failure of Austrian and Keynesian economics was really eye opening. At your conference you said that Adam Smith’s Invisible Hand applied internationally not just domestically. I believe I have reached the level of understanding you have been teaching us. It is indeed global and clearly everything is connected. Is China…
by Dirk Ehnts, Econoblog101 The Association of German banks has released a press statement (in German) which is very interesting. According to a survey, Germans keep their wealth in the form of bank deposits at different maturities even though interest rates are low. This empirical fact invalidates neoclassical theory that says that savers save less when interest rates…
2015 will be different from 2014 because of one crucial reason: the recent collapse of oil prices. Consequently, the returns from once-favored income shelters, particularly energy master limited partnerships (MLPs), are highly uncertain. In addition, it now seems that Janet Yellen’s merry men at the Fed will pluck up the courage to raise interest rates,…
The Greek political drama is overshadowing the Russian crisis and the plunge the price of oil. A review of old and new media coverage suggests that many observers are repeating the same mistake they made 2-3 years ago. We were one of the few analysts that did not expect Greece to leave the monetary union then, and…
The new year has officially started because it wasn’t even a day in and Mario Draghi was once again out and about, jawboning the Euro to a lower level than where it was when he said back in 2012 he would do “whatever it takes” to push it higher. The reason, as Reuters reports, why the Euro…
Incyte Corporation (INCY – Analyst Report) is a $12 billion pharmaceutical company that is expected to finally turn a profit next year on the success of its drug Jakafi, the only FDA-approved treatment for myelofibrosis (MF). Incyte was formerly called Incyte Genomics in the 1990s when it was a pioneer in that groundbreaking research and a key provider…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 +0.38%) this morning are up +0.30% on dovish comments by ECB President and on slightly stronger-than-expected Chinese PMI figures. The Euro Stoxx 50 index this morning is down -0.29%. Asian stocks today closed higher: Hong Kong +1.07%, Australia +0.46%, Singapore +0.16%, South Korea +0.30%, India +1.38%, Turkey -0.49%. The Japanese,…
