Archive for January 17th, 2012

Larry's Blog

An Awful Way to Pick Presidential Candidates

January 17, 2012

The selection process for U.S. presidential nominees does a great disservice to voters and aspiring candidates.  The use of state primaries was developed to make the choice more democratic but in practice has made it less so than when the main vetting of candidates was done by party professionals. In the Iowa caucus, Mitt Romney […] More

Central Bank Watch

No Policy Change from Bank of Canada

January 17, 2012

Canada’s 1.0% overnight money rate target since September 2010 was left unchanged again as analysts expected.  In the new statement, policymakers reiterated that "there is considerable monetary policy stimulus in Canada."  New quarterly macroeconomic forecasts are modestly modified from those presented in October, but the gist of the forecast remains the same.  Economic growth will […] More

New Overnight Developments Abroad - Daily Update

Less Concern about China and Europe –> Risk On

January 17, 2012

Chinese growth slowed less sharply than feared last quarter.  December industrial production and retail sales also eclipsed expectations. The ZEW Institute released much better-than-forecast measures of investor sentiment toward Germany and the euro area. British and Euroland consumer price inflation slowed last month. Like other recent sovereign debt auctions in Europe, Spain’s sales of 1-year […] More