Category Archives: Canada
Hello Canada. I look forward to being on BNN live this Friday at 4:20pm eastern.
Every country in the G7 (except Canada) has an economy that is smaller now than it was in 2008 (before the last recession). Because of how the NBER defines recessions, it says we had one in 2008-2009, and have since come out of it. I suggest the definition include a comparison of the current economy size to that before the recession began. If the […] Read the rest of this entry
The BEA took an axe to their previous GDP estimates. Previously, the BEA estimated average annualized GDP growth over the 4 year period 2007-2010 to be less than +0.1%. Today, they slashed that growth rate to -0.3%/year. This is the same effect as a 4 year recession. Ouch. For the same 4 year period, the BEA lowered their estimate of real personal income growth […] Read the rest of this entry
Apparently I’m not the only one to notice Ben Bernanke’s comment last week where he indicated the chances of more QE (after QE2) are dropping because the trade off with inflation is “getting less attractive”. The Economist April 30th 2011 issue pointed this out too. 1Q earnings season is mostly complete (435 of 500 done). As expected, earnings have been strong. In fact, the only quarter […] Read the rest of this entry
I have written repeatedly over the past year (and longer than that) that the US banking system is very weak – more specifically, that it is weaker than the Fed, Treasury and financial press would have us know. Here is an update, and a summary of what it means to how we are investing… The Economist magazine states that western (N America, Europe) bank […] Read the rest of this entry