Economic Drift

by on May 31, 2012

We are at sea. Adrift. Going nowhere. Wallowing about with little direction. Not sinking. Not soaring. Just floating. Just.

Today's GDP numbers validate the view [more…]

US Growth Picks Up – A Bit

by on January 27, 2012

Be careful with today's report on US GDP. It looks better than it is. The headlines all read that the US economic activity accelerated in [more…]

The Not So New Year

by on January 3, 2012

Year end is always an odd time. We pretend that we can wipe the slate clean and that the new year will be unencumbered by [more…]

Sideways Consumers

by on December 13, 2011

A brief note to comment on today's retail sales numbers: they were disappointing, especially after the hoopla associated with the traditional burst of spending after [more…]

The Economy Grows! So What?

by on October 27, 2011

The enormous sigh of relief we heard this morning when the GDP figures for the third quarter were released is absurd. I realize I am [more…]

Stagnation Watch: GDP, Jobs, And Confidence

by on September 29, 2011

We are almost at a point where we can all take a month or so off after which we would return to be met by [more…]

Stagnation Watch: GDP Wobbles

by on July 29, 2011

I will comment shortly about the farce that is Washington, but there is an economy to be concerned about. Not that anyone in Washington seems [more…]

US Trade Gap Worsens: Oil. What’s New?

by on July 12, 2011

Today's trade report is not good. The gap between imports and exports rose to $50.2 billion in May. That's a 15% jump. By itself that [more…]

Trade Worsens; Realism at the Fed

by on May 11, 2011

A mixed bag today: the US trade gap widened, despite a good increase in exports; and Sandra Pianalto, the head of the Cleveland Fed, made [more…]

The Economy Slows Down

by on April 28, 2011

As we all thought, our economic growth slowed dramatically in the first quarter this year. The headline figure you will be reading about is 1.8% [more…]