Larry's Blog
How The U.S. Economy Performed Under Democratic and Republican Presidents
August 19, 2008
During the forty years from 1961 through 2000, the United States had a Democrat as president half of the time (1961-68, 1977-80, and 1993-2000) and a Republican president for the other twenty years (1969-1976 and 1981-1992). Power was shared, and the switch-overs occurred infrequently, so that it is fair to associate performance with the ruling […] More
Central Bank Watch
Different Signals From the Central Banks of Australia and Japan
August 19, 2008
Australia and Japan are both flirting with a recession, and each economy has excessive inflation that is likely to climb further before cresting. But statements released overnight in these two economies had different tones. The Reserve Bank of Australia’s minutes from this month’s earlier policy meeting accentuate the risks of a “deep slowdown” in growth, […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Equity Markets Tumble
August 19, 2008
Many bourses have suffered losses of at least 1%. Japanese Nikkei -2.3%. Australia -2.4%. South Korea -1.7%. Indonesia -2.1%. Germany -1.2%. France -1.4%. And Britain -1.0%. The yen firmed 0.4% against the dollar, as the BOJ signaled that a rate cut is doubtful despite recessionary conditions now. The U.S. currency otherwise advanced by 0.7% against […] More
