The new metro gazelles?

So if you want to see the gloomiest picture of Downtown used in an upbeat story see today’s headine.

Reuters: Only three major U.S. cities see economic recovery: study

What 3 you have to ask?  Lots of ink on this one from all over, but nary a mention locally? Even reverb over the pond of . . . → Read More: The new metro gazelles?

Mining Stocks Now Provide Bargain Trade Opportunities: Florian Siegfried

Many precious metals mining stocks are now trading at bargain prices but the old “buy and hold” strategy no longer applies in this fluid market environment, says Florian Siegfried, CEO of Precious Capital AG. In this exclusive interview with The Gold Report, Siegfried says investors need to do their homework and pick their . . . → Read More: Mining Stocks Now Provide Bargain Trade Opportunities: Florian Siegfried

John Williams on Lies, Damned Lies and the 7.8% Unemployment Rate

Shadowstats.com Author John Williams wonders if politics are at play behind the latest jobs report, which shows 114,000 new U.S. jobs since September and a 0.3% drop in unemployment since August. Investors need to know how seasonal factors and month-to-month volatility affect the Bureau of Labor Statistics’ reports. In this exclusive interview with . . . → Read More: John Williams on Lies, Damned Lies and the 7.8% Unemployment Rate

Who Pays Taxes?

Everyone:

Virtually all Americans will pay taxes during their lifetime. The uncertainty that came packaged with the Great Recession has allowed for the proliferation of many other economic misconceptions, especially in regard to taxes. Today’s economic context for tax reform is very complex. Most immediately, the economy is still in the midst of a . . . → Read More: Who Pays Taxes?

It Takes One to Know One

Some hack calls out FoxNews for lying about unemployment:

During a segment criticizing the Obama administration for its messaging on the economy, a Fox & Friends graphic claimed that the “real unemployment rate” had increased from 7.8% in 2009 to 14.7% now.

But in order to make the claim that unemployment had increased . . . → Read More: It Takes One to Know One

After Jackson Hole, Clear Road Ahead?

In terms of forward guidance I think the Fed Chairman’s speech provided little direction, but Friday’s precious metal price action into the close and the various sell side notes that I have seen suggest that this, at least initially, is too bearish a conclusion. The following excerpt from the speech, in particular, was . . . → Read More: After Jackson Hole, Clear Road Ahead?

Random Shots – Catching Up

After a week with the family in a cottage in Sweden Alpha Sources is ready to get back into the grind. Returning from holiday as a macro analyst is always daunting given the barrage of news and data that you will have inevitably “missed”. From reading the news and last week’s sell and . . . → Read More: Random Shots – Catching Up

Pittsburgh's Etch a sketch moment

We are just coming up on the 30-year anniversary of what might have been Pittsburgh’s Etch a sketch moment.  Three decades ago Pittsburgh was just about halfway through the 18 months that changed it forever.  In August 1981 the region’s unemployment rate was 7.2%; a high, but not scary level.  Total unemployed in the region measured 86,600.   . . . → Read More: Pittsburgh’s Etch a sketch moment

Hysteresis

Benyamin Appelbaum:

More grim ruminations on our economic prospects: What if recessions do permanent damage, diminishing a nation’s productive capacity?

As I wrote on Thursday, recessions are commonly understood as disruptive rather than destructive to the economy as a whole. But a paper presented Friday at the Brookings Institution warns that recessions may do . . . → Read More: Hysteresis

Paging Dr. Sowell

Someone needs help thinking beyond stage one:*

Researchers with the Federal Reserve Bank of New York found that investors who used low-down-payment, subprime credit to purchase multiple residential properties helped inflate home prices and are largely to blame for the recession. The researchers said their findings focused on an “undocumented” dimension of the housing . . . → Read More: Paging Dr. Sowell