Professor Mark J. Perry's Blog for Economics and Finance
Posted 7:38 AM Post Link
Links to this post
and US retail sales dropped.
This comment has been removed by the author.
Germany shows solid employment growth as a global export powerhouse but..."and us retail sales dropped"; on the other hand:U.S. Goods and services Exports are 16.7% to $681.8 billion for the first four months of 2011. U.S. manufacturing exports accounted for over $401 billion of the total.Hmmm; solid export growth to growing markets -> more jobs -> more savings, investments & spending (retail).
Meanwhile over at Zer0Hedge they're looking at the following: As Europe Stares A Break Up In The Face And PIG Bonds Plunge, Its Finance Ministers Are Holding More Meetings
buddy-so far the "more jobs" part of your cycle seems conspicuously absent.that is likely because most of the US export growth is inflation, not real growth.http://www.bls.gov/news.release/ximpim.nr0.htmexport prices are up 9% from a year ago.(imports are worse at 12.5%)
"that is likely because most of the US export growth is inflation, not real growth."Export prices up 9% BUT exports up 16.7% so, that's 8% of real growth, right? Real economic growth that is not fueled by U.S. debt variations.
Europe is in big trouble. Its banking system is on the verge of collapse and voters in Spain, Greece, Portugal, Iceland, Italy, and Ireland are ready for a revolution against the authorities and the banks that wound up losing all those billions. Unless the Fed can coordinate another bout of inflation you will see both European and US markets head much lower.
Post a Comment
Create a Link
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.
Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
View my complete profile