Larry's Blog
9/11/01 and Now: The Economy
May 2, 2011
Since September 2001, U.S. consumer prices have climbed 25.5% or 2.4% per annum. Core inflation has risen 20.3% or 2.0% annualized. These are marginally above what central bankers widely define as price stability and by U.S. standards of the three previous decades quite exemplary. Monetary hawks would argue that price stability is a critical pre-condition […] More
Deeper Analysis
April Purchasing Manager Survey Results: United States Versus Euro Area
May 2, 2011
The U.S. minus Euroland PMI spread narrowed to +2.4 points in April from 3.7 points in March. The spread’s width has lately been pretty trendless, although oscillating to a fair degree. Its width changed direction in each of the past six months. It also was +2.4 points in February and averaged +2.7 from October through […] More
New Overnight Developments Abroad - Daily Update
Muted Market Reaction to Bin Laden’s Death
May 2, 2011
A tactical U.S. military team killed Osama Bin Laden and others in his compound in Abbottabad, Pakistan. The war on terrorism continues. Reprisals are a risk. A 1.8% drop in oil prices has been the most pronounced market reaction to the news. Gold is 0.1% firmer. Silver is lower. The dollar slid 0.3% against the […] More
