Hot Stories

August Employment Report: 60K Jobs ex-Census, 9.6% Unemployment Rate

From the BLS: Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for... (read more)
 

Spain's Economy Re-enters Contraction Mode In The Third Quarter

Well, that didn't last long, now did it. Two consecutive quarters of minimal GDP growth seem to have exhausted the forces of a more than fragile Spanish economy. All the post June data we are seeing suggests the economy has now turned the corner (in the bad... (read more)
 

Europe Bond Yields

Usually I just post the bond spreads in Europe, but I think this excellent tool from Bloomberg shows visually what is happening with bond yields in Europe. Click on graph for larger image in new window.You can click here for the graph for the Greece 10 year... (read more)
 

Bond Bubble Watch, by Arnold Kling

Nobel Laureate Gary Becker comments on the possibility of a debt crisis. Morgan Stanley's report argues debt/GDP is not a good measure of default risk, and suggests instead the ratio of debt to government revenues. On this measure, the US looks terrible, with... (read more)
 

Some comments on August ISM Manufacturing Index

The Institute for Supply Management reported this morning that the PMI increased to 56.3 from 55.5 in July. Expectations were for a decrease to 53.0. Click on graph for larger image in new window.Here is an update to the graph showing the regional Fed manufacturing... (read more)
 

State Tax Revenues Rise for Second Consecutive Quarter

The Nelson A. Rockefeller Institute of Government reported today that state tax revenues increased for the second consecutive quarter, up 2.2% for the second quarter of 2010: Corporate income tax: -18.8% Personal income tax: +1.6% Sales tax: +5.9% The largest... (read more)
 

German Military Study Warns of a Potentially Drastic Peak Oil Crisis

Der Spiegel. A study by a German military think tank, leaked on the Internet, has analyzed how peak oil might change the global economy.The study is a product of the Future Analysis department of the Bundeswehr Transformation Center, a think tank tasked with... (read more)
 

EPA, DOT Propose New Fuel Economy Labels; Addressing GHG Emissions, Fuel Consumption and Advanced Technology Vehicles

Four samples of the first proposed label design with the letter grade. From left to right: EV, PHEV, gasoline/diesel, gasoline/diesel. Color is integral to the new schemes. Source: EPA. Click to enlarge.The US Department of Transportation (DOT) and the US Environmental... (read more)
 

Yes, Fiscal Stimulus Can Pull Spending Forward from the Future into the Present When It Is Most Needed

Atif Mian and Amir Sufi:The Effects of Fiscal Stimulus: Evidence from the 2009 ‘Cash for Clunkers’ Program: A key rationale for fiscal stimulus is to boost consumption when aggregate demand is perceived to be inefficiently low. We examine the ability... (read more)
 

Recovery summer

MARKETS are up this morning on good manufacturing news out of China, but the big story in America is considerably gloomier. The ADP private employment report, which always comes out a few days ahead of the official Labour Department payroll data, showed a decline... (read more)
 

iPhone Game Features Heroic Fish Dodging Gulf Oil Spill Damage

Image via Elephant Journal We've had an influx of iPhone apps based on the Gulf oil spill, and many of them also donate proceeds to helping clean-up efforts. So what makes Puff Puff: Gulf Spill any different? It's still an app about the life post oil disaster... (read more)
 

Can Hamas Sabotage the Peace?

Economist blogger "M.S." comments on the Hamas attack in the West Bank a few days ago:[S]omething happened yesterday that, to my recollection, has never happened before, at least not with such clarity: in the midst of direct negotiations between Israel and... (read more)