Tuesday, June 2, 2015

Many news items

Here's some stuff you need to catch up on:

Calculated Risk - ISM of 52.8 in May. New orders was 55.8%.

Calculated Risk - construction spending increased 2.2% in April. Also it's up 4.8% yoy. So there still is growth in capital investment.

Calculated Risk - preliminary May vehicle sales at 17.7M SAAR. Again, still looks like the US economy is growing, mister doomer.

Calculated Risk - hotels have best April ever. So obviously the US economy is still growing.

WSJ RTE - inflation misses 2% target for 36th straight month. So the Fed really should have no problem with inflation overshooting, since that 2% is a target and not a limit. In fact, Krugginator was saying over a year ago that the Fed should have acted "credibly irresponsible" to increase inflation expectations.

WSJ RTE - developed-country inflation hits fresh low. Gee, WSJ is really concerned about inflation all of a sudden, eh? Don't they realize their plutocrat bosses like low inflation?

Krugman - the age of derp, Kansas edition. Do read up on Kansas: it's a dismal failure of supply-side Republican economics.

Mining.com - the real value of gold in the ground. A presentation from Mickey Fulp.

der Spargel - interview with a paid Kremlin troll. This bit was interesting:
SPIEGEL ONLINE: If there are no contracts, then how are salaries paid?

Savchuk: Under the table, with cash. They don't pay any taxes or make any pension contributions. But it is good money: 50,000 rubles a month, or about €800. But nobody knows exactly where the money comes from. As a concerned citizen, what upsets me is that there is no money in Russia for important social projects right now, but there is for this nonsense, for hundreds of trolls.
You think maybe they might be getting their money from the Interior Ministry?

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