Monthly Archives: April 2009

SWINE FLU: PHASE 6 NOT IMMINENT SAYS WHO

We do not have any evidence to suggest that we should move to Phase 6 today, or that any such move is imminent. The situation continues to evolve. Phase 5 represents a spreading out of the virus where we see … Continue reading

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April Chicago Business Barometer Surges, Economy Still Contracting

More evidence that inventories reached an unsustainable low level and that production needs to be restarted to replenish inventories. We will need to watch final sales carefully, particularly consumer spending, to assess whether this is only an inventory bounce. The … Continue reading

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U.S.: Investment plunges in Q1 but spending rebounds

The U.S. economy posted a worst-than-expected contraction of 6.1% in Q1. Much of the weakness was concentrated in business investment as firms tried to protect their bottom-line through aggressive cost cutting measures – a move that was most certainly exacerbated … Continue reading

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FASB ‘Pretty Close’ on Off-Balance-Sheet Rule Change

The abolition of the “mark-to-market” rule took effect right after adoption and was conveniently applied retroactively to Q109. This change will, conveniently, have to wait until next year? (Bloomberg) — The Financial Accounting Standards Board is “pretty close” to approving … Continue reading

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How to save taxpayers $328,735.01

Unfair comment that takes absolutely no account of the fact that someone in government had to actually think about another, less costly,  option. That is not in the ways and means book. Well, it’s not with free Microsoft Paint but … Continue reading

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Mohamed El-Erian: The bumpy journey to a ‘new normal’

For a while now, US economic policymakers have been dealing with the challenge of driving a car with a sputtering engine up a hill, says El-Erian, chief executive of Pimco and author of ‘When Markets Collide: Investment Strategies for the … Continue reading

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U.S. consumer spending, incomes drop in March

We knew that spending would decline in March as per weekly chain store sales that we monitor. We also know that spending has been better in April. So far the consumer has been pretty resilient, meaningfully contributing to the green … Continue reading

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MICRO FACTS: P&G Getting More Cautious

Sales growth expectations have been trimmed down somewhat. Procter & Gamble Co posted a 4 percent drop in quarterly profit on Thursday as consumers traded down to less expensive products in the challenging economy, leading to a decline in sales. … Continue reading

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MICRO FACTS: Starbucks Sees No Green Shoots

Fact is consumer spending has improved some in recent months. Starbucks seems to be losing share to McDo. Starbucks was one of the first companies to recognize the United States was in a recession when it halted its expansion plans … Continue reading

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US FED’S APRIL STATEMENT: HOW IT CHANGED VS PREVIOUS

Only cosmetic changes. The economy is sinking more slowly and the Fed will continue its aggressive stimulation through all available ways and means. THE FED’S STATEMENTS reflect how the members of the central bank’s Federal Open Market Committee perceive the … Continue reading

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Euro-Zone Inflation Steadies

The annual rate of inflation in the 16 countries that use the euro steadied in April, although at a record low, data released Thursday showed. The European Union’s official statistics agency Eurostat said the rate of inflation in the euro … Continue reading

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Debit-Card Use Overtakes Credit

Visa’s Results Show Tilt Toward Paying It Now; What Does It Mean? Brad Sagara uses a debit card to buy everything from groceries to climbing gear to bottled water. He barely uses his two credit cards anymore, and is trying … Continue reading

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