Sunday, March 15, 2015

Some Sunday news

Here's some reading for you for tonight.

New Deal Demoncrat - weekly indicators. Rails is back to positive, tax withholding is still positive. But Q1 GDP will be weak, so watch out when it's reported in April. Then again, that's close to June, and maybe the market will go up on a weak GDP report cos it's back to selling good news and buying bad news?

Calculated Risk - energy expenditures as % of consumer spending. Going down.

New Deal Demoncrat - the 3-dimensional Phillips curve as a forecasting tool. Basically, ignore all the mathematical conceptualization stuff and just believe him when he says the NAIRU changes depending on the commodity inflation environment. So NAIRU right now is probably closer to 3%. Now, do you think the Fed chair is too stupid to already know this?

der Spargel - interview with Thomas Piketty. Wherein Spargel shows their conservative stripes: they're just not as Nazi as Bild, is all.

Jojo - short-term bounce but danger looming. He thinks there's a chance of an ultrapuke in gold and the miners. I think he should pay more attention to gold ex-US.

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