And it’s one ugly dude.
The main problem continues to be an apparent determination to believe in and perpetuate myths about the (fortuitously linked) inevitability and desirability of global economic interdependence, and about the American and other government policies aimed at its intensification.
I want to give a hat tip to a recent Wall Street Journal article that brought to my attention two damning admissions by JPMorgan’s (JPM) CEO and Chairman of the Board, Jamie Dimon.
Unilever warns about stagnation in the US, quagmire in Europe; and in China, oh my, sales plunged 20%. Sudden slowdown this quarter.
In December 1999, it started crashing, a leading indicator of investor exasperation. Now it’s down 33% from its February high .
CUSIP: 912810RF7Term and Type: 29-Year 4-Month TIPSSeries: TIPS of February 2044Reopening: YesInterest Rate: 1.375%High Yield: 0.985%Price: $112.167585Allotted at High: 92.20%Total Tendered: $16,022,554,300Total Accepted: $7,000,004,300Auction Date: 10…
In finance, the role of the “rocket scientists” is primarily pernicious. Nevertheless, they played a much smaller role than the officers that controlled the banks played in the growth of the financial crisis and an even smaller role in the three epidemics of control fraud that caused the crisis.
Yesterday’s manufacturing wage data from the Labor Department contains bad news not just for domestic industry’s workforce.