Posted by Jason Apollo Voss on Dec 10, 2009 in Blog | Comments Off
Yesterday Japan revised its third quarter GDP down to 1.3% growth. Previously growth had been pegged at 4.8%. That is a reduction of 72.9%! Clearly that is a gigantic revision. So what does it all mean?
To me this suggests that the worldwide economic recovery is still shaky. Improving, but shaky. Kind of like the week after the worst of flu symptoms abate. Because GDP figures are always...
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Posted by Jason Apollo Voss on Dec 10, 2009 in Blog | Comments Off
Happy Thursday folks!
I write this from a Starbucks in Littleton, Colorado. Though I am traveling I am still on top of things for everyone. Today’s post is an update of the Iranigans situation. Though there has not been much noise about Iran in the last 3 weeks, there is still a lot going on. For example…
Israel
Israel is laying the groundwork for a military strike against Iran. I...
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Posted by Jason Apollo Voss on Dec 8, 2009 in Blog | Comments Off
From (brrrr) chilly Denver…
The major Chinese economic conference wrapped up yesterday with the Communist government of that nation setting goals for the nation. Specifically it was decided at the Central Economic Work Conference that the nation needed to focus on: increasing domestic consumer consumption; reducing reliance on exports; closing the gap between the earnings of urban and...
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Posted by Jason Apollo Voss on Dec 4, 2009 in Blog | 3 comments
Happy Friday!
For today’s post let’s begin with the following quote from the Wall Street Journal:
“U.S. job losses in November posted the smallest drop since the start of the recession and the unemployment rate unexpectedly declined, a sign the labor market is finally healing as the economy recovers.
“Nonfarm payrolls fell by just 11,000 last month, slowing down from a...
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Posted by Jason Apollo Voss on Dec 3, 2009 in Blog | Comments Off
Thomson Reuters reports that November sales in the U.S. were about breakeven with last year’s November sales. Unfortunately November 2008′s sales were 7.8% below those of November 2007′s sales. Ouch! In other words, retailers are hemorrhaging. Additionally, the day after Thanksgiving results, alias Black Friday (what a stupid name), were 7.9% below last year’s very...
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Posted by Jason Apollo Voss on Dec 3, 2009 in Blog | Comments Off
Earlier this week I reported the unemployment picture as calculated by ADP, the nation’s largest payroll firm. Today the U.S. Department of Labor reported that initial jobless claims fell by 5,000 to 457,000. This marks the 5th week in a row that claims have fallen. The four week moving average is a decline of 14,250 to 481,250. That figure represents the lowest since November of last...
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Posted by Jason Apollo Voss on Dec 3, 2009 in Blog | Comments Off
Good morning folks!
Yesterday afternoon Bank of America announced that it was going to be paying back $45 billion of the TARP funds received from the Federal government over the last year. More importantly $18.8 billion of the payback figure is to be raised by B of A selling securities.
Why this is important:
For Bank of America to pay these funds back is a sign that the U.S. financial...
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