Most of the links are about Europe as usual but I think the breadth of news today is good. I would like to highlight the conflicting economy stories out there. While Europe remains mired in recession, the rest of the world is still growing. In the US, the data have been weak of late but not out and out recessionary as the ECRI claims. I would be surprised if they were proved right on their recession call, one they first made a year ago. Growth estimates in the US are being cut but no one is really saying recession outside of ECRI, Hussman and Michael Shedlock.
Today's jobless claims confirm that there has been no uptick in layoffs meaning that the second derivative (change in the change) of employment is not moving toward recession. What I would expect to see at this point ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.