Jeffrey P. Snider

Negative TIC Is A Rare Level of Negative

Even on a six-month cumulative basis, it is rare to find a negative number. These are reserved for the big ones, the market-shaking events that either perform an inflection or confirm one as it reaches pretty hard depths. The world being the way that it is, you just don’t see the whole forced into outright […]

No Sign of Stimulus, Or Global Growth, China’s Economy Sunk By (euro)Dollar

Najib Tun Razak was elected as Malaysia’s Prime Minister in early 2009. Taking office that April amid global turmoil and chaos, Najib’s first official visit was to Beijing in early June. His father, also Malaysia’s Prime Minister, had been the first among Asian nations to open formal diplomatic relations with China thirty-five years before. Celebrating […]

Downturn Rising, German Industry

You know things have really changed when Economists start revising their statements more than the data. What’s going on in the global economy has quickly reached a critical stage. This represents a big shift in expectations, a really big one, especially in the mainstream where the words “strong” and “boom” couldn’t have been used any […]

Downturn Rising, No ‘Glitch’ In Retail Sales

You just don’t see $4 billion monthly retail sales revisions, in either direction. Advance estimates are changed all the time, each monthly figure will be recalculated twice after its initial release. Typically, though, the subsequent revisions are minor rarely amounting to a billion. Four times that? Last month, the Census Bureau reported that retail sales […]

Fed: We Are, Don’t Get Spooked, Very Happy With Things But We Are Going to Review Our Policies And Tools In the Very Small, Microscopic Chance We’ve Missed Something

Last August, the Senate confirmed Richard Clarida for both a position on the Federal Reserve Board of Governors as well as to be installed as its Vice Chairman. Clarida had been chairman of the Economics department at Columbia as well as working for PIMCO where he had served the investment company as its Global Strategic […]