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  • August 2011
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links for 2011-08-01

  • Quote:"Manufacturers had their weakest growth in two years in July, a sign that the economy could weaken this summer.

    The Institute for Supply Management, a trade group of purchasing executives, said Monday that its index of manufacturing activity fell to 50.9 percent in July from 55.3 percent in June. The reading was the lowest since July 2009 — one month after the recession officially ended.

    Any level above 50 indicates growth. The manufacturing sector has expanded for 23 straight months.

    // ugh

  • Quote:" Factories in Asia and Europe expanded in July at the weakest rate since major industrial powers were struggling through the 2009 recession, adding to concerns over world growth.

    While stock markets rose on signs of a last minute solution that would avoid a U.S. debt default, manufacturing purchasing managers indexes (PMIs) provided the latest evidence of a slowing global economy.

  • Quote:"The Confederation of British Industry (CBI) warns today that there is a "darkening mood" among British business people as they face up to years of lacklustre, disappointing and fragile economic growth.

    The squeeze on household incomes and consumer spending has hit UK business confidence hard in recent weeks, as has talk about the Government's planned spending cuts and sovereign debt crises in the eurozone and in the US.

    // D'oh

  • Quote:"Other economists say the deal will help reduce uncertainty not just over the debt ceiling, but over the larger issue of the deficit. By showing that Washington means business in addressing both problems, they argue, the agreement will lift business confidence and provide an economic boost.

    But the deal doesn't just raise the debt ceiling. It also calls for $2.4 trillion in spending cuts over the next decade. And that's where the impact could be less positive. Most economists say cutting government spending when the economy is weak is likely to reduce jobs and growth by further weakening demand.

    // Another example of naked Keynesianism. Government spending, according to research I've seen, has a negative effect on gdp growth. Lower or negative gdp growth almost always means less jobs. Cutting government spending will mean some gov't employees lose their jobs, but these will be replaced with private sector jobs, and there should be more people employed after than before.

  • // I no longer believe in the distinction between buying and selling. Fortunately enough, I don't have to write about it because the Twins did nothing this year.
    (tags: Baseball Twins)
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