Glenn Beck, Goldline and Gainesville Coins

While gold, silver and platinum are risk-free the precious metals industry contains both sterling actors and unscrupulous shysters. All are trying to make a profit which, if done morally, is commendable. The Glenn Beck and Goldline issue raised by Mr. Weiner is nonsense. But as a purchaser I want to get the best value. . . . → Read More: Glenn Beck, Goldline and Gainesville Coins

Economic Events on May 28, 2010

At 8:30 AM EDT, the monthly Personal Income and Outlays report for April will be released.  The consensus for Personal Income is an increase of 0.5% over the previous month, which would be the third month of gains in a row.  The consensus for Consumer Spending is an increase of 0.2% after a strong . . . → Read More: Economic Events on May 28, 2010

Does Identity Economics Predict Happiness in Different Societies?

I get the impression from the methodology chapter of their recent book, ‘Identity Economics’, that George Akerlof and Rachel Kranton are not particularly interested in econometric tests of the predictive power of their theory. They suggest that it is difficult to falsify any theory because ‘even the most straight forward test has literally millions . . . → Read More: Does Identity Economics Predict Happiness in Different Societies?

Economic Events on May 27, 2010

At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 450,000 new jobless claims last week, which would be slightly less than the higher than expected number that was reported last week.

Also at 8:30 AM EDT, the preliminary GDP report for the first . . . → Read More: Economic Events on May 27, 2010

Not the Free Market’s Job

A bunch of people are tweeting and retweeting the question “I didn’t look today, did the free market clean up the oil yet?”

I have a couple of responses to that. First that there is no such thing as a free market. You’re not free to sell something unless someone else is willing to . . . → Read More: Not the Free Market’s Job

Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

Existing home sales soared in April as existing home buyers rushed to take advantage of the tax credit that expired at the end of the month.

On Monday, the National Association of Realtors reported that existing home sales jumped 7.6% last month to a seasonally adjusted annual rate of 5.77 million units, up from . . . → Read More: Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

Economic Events on May 26, 2010

The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week decrease of 3.3% last week, showing continuing weakness in the housing market since the second financial stimulus program for home sales came to a close at the end of April.

At 8:30 AM EDT, the Durable . . . → Read More: Economic Events on May 26, 2010

The Euro as a Carry Trade Funder … Surprising?

Nothing is so bad, that it isn’t good for something

So goes an old adage in my home country (and I would imagine elsewhere too) and perhaps if hard burdened Eurozone policy makers and investors are finding it hard to find any kind of (positive) silver lining in the current debacle, . . . → Read More: The Euro as a Carry Trade Funder … Surprising?

Jobs Returning to Nation’s Capitol Region

Jobless rates fell in Washington D.C., Maryland and Virginia last month, according to government data released Friday. It was the marking first regionwide decline in unemployment rates since the recession of 2009.

According to the April data from the federal Bureau of Labor Statistics, Washington D.C., experienced the most dramatic drop in April’s measure, . . . → Read More: Jobs Returning to Nation’s Capitol Region

Economic Events on May 25, 2010

At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

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

At 9:00 AM EDT, the monthly S&P/Case-Shiller home . . . → Read More: Economic Events on May 25, 2010