Tuesday, September 9, 2014

More of that dumb reading crap


Here's some news:


Calculated Risk - job openings up 22% yoy. Would you say the US jobs recovery looks sustainable?


Gavyn Davies - the US recovery looks sustainable. Quote:
With the crucial exception of the labour participation rate (which the same Fed authors say is driven mainly by demographic and other structural factors, and is therefore unlikely to rebound), most labour market indicators are moving towards previous mid cycle norms, and a few have reached there already.

So much for the demand side of the question. Now for supply.

The economy could run into supply side constraints that lead to overheating, as it normally does in late cycle phases. But, despite the weakness in labour supply growth, which will cut potential GDP growth by 0.5 per cent per annum, it seems premature to worry too much about capacity limits at present. Labour and capital resources are still under-utilised. Productivity growth should rebound as investment picks up.
So you tell me which direction the market should go.


FT beyond brics - the EM selloff already started. And the selloff started in the FX market. But I guess Josh Brown doesn't may attention to FX markets, and that's why he's now gonna get caught with his pants down.


Mining.com - Chuck Jeannes says we've hit peak gold. Uh, Chuck? Yeah, Barrick was saying that in 2009. Look it up. You're such a johnny-come-lately.


IKN - on gold mining costs. Junior gold miner seeker presents the case that gold simply can't drop to $1050 if you want anyone to mine it. Well, we'll see.

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