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    Economics / business investment, durable goods orders, GDP, inventories /

    Mixed Capital Goods Spending

    September 28, 2011

    Just a brief note on today’s durable goods orders. They fell slightly – by 0.1% – in August, which suggests continued sluggish growth for the economy as a whole. The decline was driven, excuse the pun, by a 8.5% drop in motor vehicle purchases by business, and by a 5.7% decline in large defense goods. […]

    Economics / foreclosures, home prices, real estate, unemployment /

    Home Prices Rise – Again

    September 28, 2011

    Perhaps we’ve finally touched bottom in the housing market. The monthly Case-Shiller Index reports that home prices rose for the fourth straight month in July. The gain was very modest at 0.9% compared with June, and was still 4.1% below July 2010, but there may be the semblance of a trend appearing. It had to […]

    Economics / Bernanke, Federal Reserve Board, inflation, interest rates, monetary policy, unemployment /

    The Fed Acts

    September 21, 2011

    Look for Bernanke to be burned in effigy at the next meeting of the Republican Party leadership. In defiance of the brazen attempt to interfere with Fed independence by that leadership – if that word is appropriate – the Fed announced today that it was going to engage in yet another new trick in order […]

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