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Daily Archives: November 7, 2019
Stock prices overshoot profits by most since 2000–mind the gap
As explained well by Lance Roberts in Corporate Profits Are Worse Than You Think, the S&P 500 stock index price (in blue) has now overshot corporate profits (orange) by the most since the late 1920s and the 2000 bubble top. … Continue reading
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Global manufacturing downturn evident in the rust belt
US national manufacturing employment peaked in August and has reversed sharply since. From January to September, the states bordering the Great Lakes have lost more than 25,000 manufacturing jobs: Pennsylvania lost 8,100; Ohio lost 6,000; Michigan lost 6,500; and Wisconsin … Continue reading
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ECB Holzmann: monetary policy at limit, time for productive investment
As the EU cuts its growth forecast this morning for 2019 and 2020 to barely over 1%, it is good to hear an ECB official admitting that the old add-debt-for-present-consumption model is at a close and the new paradigm has … Continue reading
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