More fallout from new orders came this month. Manufacturers’ new orders for durable goods fell the most since January 2009, the heart of the Great Recession. A late 2011 boost from temporary stimulus measures in the tax code is obscuring a trend of eight months of weakness in new orders. Particularly hard hit were new orders for nondefense capital goods, down 10.5%. Its subcomponent, new orders for nondefense capital goods excluding aircraft parts, fell by 0.8%. The measure is a component of the Conference Board’s Leading Economic Index. The fall could be a sign of future Leading … [Read more...]
What We’re Reading 4-20-12
How the Fed Favors The 1%, Mark Spitznagel, The Wall Street Journal Sowing Seeds of the Next Major Crisis, Francesco Guerrera, The Wall Street Journal Open sesame, The Economist VIDEO: Maximizing after-tax returns, Joel Dickson, Vanguard … [Read more...]
Is This What a Recovery Feels Like?
A slew of industrial reports were released by the Federal Reserve this week. All of the releases’ headline numbers missed analysts’ estimates. The picture painted by the charts below indicates an uneven recovery hampered by residual weaknesses in certain sectors of the economy. The Empire State Manufacturing Survey came out Monday. Growth in New York’s manufacturing industry slowed, with prices still climbing. One of the biggest problems New York manufacturers cited for their business was trouble finding skilled employees, especially those with advanced computer skills and those with an … [Read more...]
VIDEO: Schiff: There is no real recovery; it’s phony
Income Investors: Be Not Afraid
The Problem Without congressional action the Bush tax cuts will expire in 2013. Expiration would lead to higher income taxes for all brackets, and lead to dividends being taxed at marginal income tax rates for middle-and upper-income filers. The potential for higher income tax rates on dividends is scaring many income investors. These investors are wondering if it is time to sell dividend stocks and buy non-dividend payers. The short answer is no. Compromise on the Way The President is pushing to keep income tax rates the same for all but the top tax bracket, and pushing to keep … [Read more...]
Jobless Claims Spike: Will the Fed Overreact?
According to today’s report, initial claims for jobless benefits spiked to 380,000, the highest since January (See chart below). Compounding the fear about the recovery in jobs was the less than stellar growth logged in payrolls last week. Only 120,000 jobs were created in March, substantially underperforming average economists’ estimates which ranged closer to 200,000. Other economic data contradict the recent bad news. GDP is growing around trend, cars a selling fast and sentiment is trending upward. It’s safe to say that the economic data are mixed. Also mixed is the interpretation … [Read more...]
VIDEO: What DOJ’s lawsuit against Apple means
What We’re Reading 4-13-12
’Fortune 500’ of 1812 Shows U.S. Banks’ Early Influence, Richard Sylla and Robert E. Wright, Bloomberg Surprise! The 1% Are Paying Their Fair Share, Gene Epstein, Barron’s Who Deserves Credit for the Improving Economy?, Kevin Warsh, The Wall Street Journal Tiny porphyrin tubes developed by Sandia may lead to new nanodevices, Phys.org Strategies to Max Out Social Security Benefits, Glenn Ruffenach, SmartMoney … [Read more...]
VIDEO: El-Erian – European Crisis Far From Over
PIMCO CEO Mohamed El-Erian warns that relative tranquility in Europe could lead to complacency, but the crisis is not over yet. … [Read more...]
VIDEO: U.S. Is Losing Its Competitiveness, Ferguson Says
April 5 (Bloomberg) -- Niall Ferguson, a history professor at Harvard University and a Bloomberg Television contributing editor, talks about the U.S. economy. He speaks with Erik Schatzker and Sara Eisen on Bloomberg Television's "InsideTrack." (Source: Bloomberg) … [Read more...]
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