The Strong Hand of Silver

Toby Connor has an essay posted at goldseek.com with a title that I find very intriguing, namely “The Strong Hand Theory” because it sounds like it could be all sorts of terrific things, ranging from a new Sherlock Holmes mystery to “How to destroy brick buildings with a karate chop with your bare hand . . . → Read More: The Strong Hand of Silver

Economic Events on April 30, 2010

At 8:30 AM EDT, the Employment Cost Index for the first quarter of 2010 will be announced.  The consensus is an increase of 0.4%, which would be a decline of 0.1% compared to the last quarter of 2009.

Also at 8:30 AM EDT, the advance GDP report for the first quarter of 2010 will . . . → Read More: Economic Events on April 30, 2010

China’s Exchange Rate and American Jobs

Here’s a brief reading list on the issue of China’s exchange rate and US manufacturing jobs:

Simon J. Evenett and Joseph Francois on whether Chinese currency revaluation will create net jobs for the US economy (link).

William R. Cline’s discussion of estimating the effect of renmimbi appreciation on American jobs (link).

Abdul Abiad, Daniel . . . → Read More: China’s Exchange Rate and American Jobs

Economic Events on April 29, 2010

At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 447,000 new jobless claims last week, which would be slightly less than the higher than expected number reported last week, and would continue the trend of slightly improving employment statistics.

At 10:00 AM EDT, . . . → Read More: Economic Events on April 29, 2010

Liquidity Giveth, Liquidity Taketh – The IMF on International Capital Flows

To be an economist these days is a rare privilege and especially; it is a privilege to be a blogging economist since there is just so much good material to write about at the moment. On the one hand, there is the unfolding unravelling of Goldman Sachs (loads of material out there already, but . . . → Read More: Liquidity Giveth, Liquidity Taketh – The IMF on International Capital Flows

Case Shiller: More Signs of Housing Price Recovery

U.S. housing prices are showing more signs of recovery. On Tuesday Case-Shiller released their index of home prices in 20 cities and it rose 0.6 percent in February from last year. The National Association of Realtors reported last week that existing-home prices advanced 0.4 percent in March as sales climbed for the first time . . . → Read More: Case Shiller: More Signs of Housing Price Recovery

Economic Events on April 28, 2010

The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week increase of 7.4% last week, which is the second week of gains in a row, and was attributed to the end of the second federal stimulus program and low interest rates.

At 10:30 AM EDT, the . . . → Read More: Economic Events on April 28, 2010

Euro Gold And The Euro Zone

I had a conference to attend in Southern California last week but the true capstone was a Sunday evening dinner with several readers. Although ‘gold bugs’ may be perceived in their writing as cranky I have found them to be among the most considerate and cultured company. Perhaps it stems from their respect for . . . → Read More: Euro Gold And The Euro Zone

83% Beat The Street; Revenues Also Top Forecasts

All last week we pointed to the strong earnings numbers released by U.S. corporations. The overall results are in and point to a measure that confirms our sector by sector reports.

Expected growth in first-quarter earnings for companies in the S&P 500 index has now jumped to 50% from 39% in the prior week . . . → Read More: 83% Beat The Street; Revenues Also Top Forecasts

Economic Events on April 27, 2010

The weekly ICSC-Goldman Store Sales report will be released at 7:45 AM EDT, and another strong week of sales is expected.

At 8:55 AM EDT, the weekly Redbook report will be released, giving us more information about consumer spending.

The monthly S&P/Case-Shiller home price index report will be released at 9:00 AM EDT.  Given . . . → Read More: Economic Events on April 27, 2010