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Tag Archives: Economics

5/6/21: Ireland PMIs for May: Booming Growth and Inflation Signals

 Both inflationary pressures and economic activity indicators are going through the roof in May, signaling a roaring run for 2Q 2021 growth. Manufacturing PMI for Ireland is up at 64.1 in May, compared to 60.8 in April. This is a historical high for the series, for the second month in a row.Services PMI for Ireland moved up from April's 57.7 to May reading of 62.1. This marks third consecutive month of above 50 readings, with all of these being statistically above 50.0 line. Construction...

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U.S. Approaches Adult Herd Immunity

I am asking GMM readers to send thoughts, prayers, postive energy or whatever you got to our beloved Carol K., GMM’s Chief Money Printer, as she battles a serious illness in Boston.  She’s the best, we’re hoping for the best, and she deserves the best.  Godspeed, CK.  Great chart from our friends at Strategas, one of the best research shops on the Street.  It looks fairly clear, at least to us, the U.S. has put the pandemic in the rear view mirror and is now ready to fully reopen...

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#MacroView: NFIB Data Says It’s Only An Economic Recovery

PRINTER FRIENDLY VERSIONThe recent NFIB survey suggests we are only in an economic recovery, not an expansion. Such was a point I made with Daniel Lacalle in a recent podcast. While the mainstream media overlooks the NFIB data, they really shouldn’t. There are currently 30.7 million small businesses in the United States. Small businesses (defined as fewer than 500 employees) account for 99% of all enterprises, employ 60 million people, and account for nearly 70% of employment. The chart below...

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10/5/21: Ireland PMIs for April: Rapid Growth and Inflation Signals

Ireland's PMIs have accelerated across all two key sectors of Services and Manufacturing in April, while Construction Sector continued to post declining activity (through mid-April).Irish Manufacturing PMI rose from 57.1 in March to 60.8 in April as larger multinationals boosted their activities and increased pass-through for inflation. This marks third consecutive month of increasing PMIs for the sector. Meanwhile, Irish Services PMI rose from 54.6 in March to 57.7 in April, marking second...

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The Adverse Consequences Of A $15/Hour Wage Hike

PRINTER FRIENDLY VERSIONWhat’s the big “hubbub” over raising the minimum wage to $15/hour? After all, the last time the U.S. lifted the minimum wage was in 2009. The argument for increasing the minimum is to create a “livable wage” for those working at that level. However, is that the best way to help “the poor?” The Biden Administration wants to include an increase of the minimum wage in the proposed “Infrastructure” plan. Many may forget the attempt to hike the minimum wage during his...

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Interview W/ Daniel Lacalle: Markets Are Pricing Massive Expansion

PRINTER FRIENDLY VERSIONLast week, I joined Daniel Lacalle to discuss why markets are mistaken in pricing in a “massive” economic expansion. The discussion covers a lot of ground including: We unpack many of the mainstream myths on narratives driving markets and why outcomes will be no different than in the past.  [embedded content] Post Views: 1,605

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#MacroView: Dimon’s Detached View Of Economic Realities

Print FriendlyIn December of 2019, I wrote about Dimon’s delusional view of economic realities. To wit: “The consumer, which is 70% of the U.S. economy, is quite strong. Confidence is very high. Their balance sheets are in great shape. And you see that the strength of the American consumer is driving the American economy and the global economy. And while business slowed down, my current view is that, no, it just was a slowdown, not a petering out.” – Jamie Dimon That’s what the head of JP...

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March Jobs Report – Millions Missing From The Roles

Print FriendlyRecently, the March jobs report showed a whopping 916,000 new jobs. Interestingly, there were some anomalies in the data and millions missing from the official count. As shown, there has been a substantial reduction in the unemployment rate back to 6%. Historically, an unemployment rate of 5% was considered “full employment.” However, for the Federal Reserve to have “cover” to continue current monetary interventions, a new standard has been set at the previous lows of 3.8%. The...

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