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Argentine Economy Contracts First Time Since 2012 After Default – Bloomberg
Argentine Economy Contracts First Time Since 2012 After Default – Bloomberg. Argentina’s economy contracted more than forecast in the third quarter after the South American nation defaulted on its debt for the second time in 13 years, forcing the government to crimp imports amid a shortage of dollars. Gross domestic product shrank 0.8 percent from […]
Brazil’s Economy Just Imploded | Zero Hedge
Brazil’s Economy Just Imploded | Zero Hedge. China may have mastered the art of fabricating economic data to a level unmatched by anyone except the US Department of Labor, but its derivative countries have much to learn. And none other more so than one of China’s favorite sources of commodities over the past decade: Brazil. […]
Magic Growth Numbers — Paul Craig Roberts – PaulCraigRoberts.org
Magic Growth Numbers — Paul Craig Roberts – PaulCraigRoberts.org. Everyone wants good news, so the government makes it up. The latest fiction is that US real GDP grew 4.6% in the second quarter and 5% in the third. Where did this growth come from? Not from rising real consumer incomes. Not from rising consumer credit. […]
You Thought The Saudis Were Kidding? – The Automatic Earth
You Thought The Saudis Were Kidding? – The Automatic Earth. There are many things I don’t understand these days, and some are undoubtedly due to the limits of my brain power. But at the same time some are not. I’m the kind of person who can no longer believe that anyone would get excited over […]
Canada’s GDP Stronger Than Expected In October .. Before Oil Prices Collapsed
Canada’s GDP Stronger Than Expected In October .. Before Oil Prices Collapsed. OTTAWA — Canada’s gross domestic product rose by an unexpectedly strong 0.3 per cent in October, which led several economists to consider revising their estimates for the final quarter of 2014 — although they also warned that they’re less bullish about 2015 due […]
This Is Why the Oil-Price Crash Will Maul the US Economy | Wolf Street
This Is Why the Oil-Price Crash Will Maul the US Economy | Wolf Street. The plunge in the price of oil that began in July acts like a tax cut, it is said, and will boost spending by consumers and businesses, and thus goose the US economy. Among the voices propagating this view is the UBS […]
Oil price drop means lost billions for Canada, CIBC says – Business – CBC News
Oil price drop means lost billions for Canada, CIBC says – Business – CBC News. The dramatic decline in oil prices will cost Ottawa about $5 billion in lost revenue and provincial economies a little more than that, one of Canada’s biggest banks suggested today. That’s one of the main takeaways from a CIBC report that […]
Building the new environmentalism | Ensia
Building the new environmentalism | Ensia. Forty-four years after the first Earth Day, we must ask a basic question: What is an environmental issue? Air and water pollution, yes. But what if the right answer is that an environmental issue is anything that determines environmental outcomes? Then the definition becomes something much broader, rooted in […]
Reframing Progress | Post Growth Institute
Reframing Progress | Post Growth Institute. “…Progress is one of the most powerful notions in the modern world” writes John Dryzek inThe Politics of the Earth. I’m inclined to agree with him. Progress acts as a kind of meta-narrative, an incredibly potent and pervasive trope that is woven through stories ancient and contemporary, and forms […]
Are We Reliving The 1930s?
Are We Reliving The 1930s?. At the close of last week’s G20 Summit, U.K. Prime Minister David Cameron warned that we’re on the verge of another global recession, citing problems like looming deflation, falling prices, and rising protectionist sentiment. This list evokes a sense of déjà vu: not about the Great Recession, but the GreatDepression. That […]
It’s official (finally): The US is no longer the world’s #1 economy
It’s official (finally): The US is no longer the world’s #1 economy. It seems rather appropriate that just seven days after the US government hit a whopping $18 trillion in debt, mainstream financial media has picked up the IMF’s recent World Economic Outlook report, which puts the US economy as #2 in the world. There’s […]
A Comprehensive Breakdown of America’s Economic House of Cards | First Rebuttal
A Comprehensive Breakdown of America’s Economic House of Cards | First Rebuttal. I was going over some of my older posts to review what was being discussed at the beginning of this year and what the perspectives were at that time. I found an interesting piece I wrote at the beginning of the year. I had just watched Janet […]
Global Business Outlook: “Darkest Picture since Financial Crisis.” US Deterioration “of Greatest Concern” | Wolf Street
Global Business Outlook: “Darkest Picture since Financial Crisis.” US Deterioration “of Greatest Concern” | Wolf Street. The plunging price of oil since June has been a leading indicator: global economic growth is in trouble, despite six years of unprecedented central-bank free-money policies that caused asset prices to soar but has accomplished little else. This scenario […]
GDP Headed to Permanent Contraction by 2023 – Here’s Why | First Rebuttal
GDP Headed to Permanent Contraction by 2023 – Here’s Why | First Rebuttal. November 18, 2014—I’d like to carry on the theme from my recent article “Interest Rates Cannot Rise – Here’s Why” that garnered some discussion after being posted on Zerohedge. I’m going to show that GDP is also in a trap of decelerating […]
Why Japan’s Money Printing Madness Matters | David Stockman’s Contra Corner
Why Japan’s Money Printing Madness Matters | David Stockman’s Contra Corner. This is getting hard to believe. The announcement that Japan has plunged into a triple dip recession should have been lights out for Abenomics. But, no, its madman prime minister has now called a snap election to enlist more public support for his campaign to destroy what remains of […]
