John Lounsbury | TalkMarkets | Page 2
Managing Editor/Co-Founder of Global Economic Intersection
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John Lounsbury is the managing editor and co-founder of the Global Economic Intersection. Global Economic Intersection (Econintersect.com) focuses on the economic effects on finance, investing, social interactions, and politics/public ...more

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China GDP In Second Half 2014 May Come In Below 6%
The official target for GDP growth for China is 7.5% in 2014. In the first half of the year GDP growth came within a whisker of that result with year-over-year GDP growth of 7.4% in Q1 and 7.5% for Q2. That level of performance has been thrown into real doubt for the second half of the year.
Federal Reserve: How The Lower 90% Have Been Goof Up
The Federal Reserve has published its triennial survey of consumer finances. If the report mirrored the financial condition of most Americans it should be shrinking.
China: Consumer Inflation Stays Low, Producer Prices Continue Deflation
China's CPI (Consumer Price Index) for August has declined from the June and July level of 2.3% to 2.0% year-over-year. Wholesale inflation PPI (Producer Price Index) shrank by 1.2% (y-o-y), the 30th consecutive month of decline.
China: All-Time Record Trade Surplus
China had exports jump 9.4% year-over-year in August, much above the forecast of 8% leading to a possible all-time record in trade surplus for any given month.
China: August Manufacturing Slump
The Flash HSBC Manufacturing PMI (Purchasing Managers' Index) dropped sharply form the June reading and well below expectations.
Here's What Joe Kernen Still Doesn't Get
In an interview of Andrew F. Puzder, CEO of CKE Restaurants, who wrote an excellent Op Ed last week on what the Obama administration is doing wrong (and failing to do at all) to enable business to grow in the U.S., CNBC co-anchor Joe Kernen went off the rails.
Trouble In Europe: GDP Flatlines
The two leading economies in the 18-country Eurozone went nowhere economically in ​the second quarter, except lower. Germany just issued a preliminary GDP reading down from the first quarter by 0.2%.
Japan GDP Crashes
The annual rate of decline of Japan's GDP in the second quarter has a preliminary reading of -6.8%. The economy was crushed by a 60% increase in the country's consumption tax.
Bank Of America: Another Day, Another $16 Billion
The Financial Times is reporting that Bank of America has agreed with the U.S. Department of Justice (DOJ) to pay more than $16 billion to settle charges of "misselling mortgage-backed securities".
Japan Services PMI Back To Expansion
The Japanese economy continues to struggle with the burden of the increase of 3% in the consumption tax effective 01 April. But the results of the struggle are continuing to show continuing slow improvement.
PMI Numbers Bullish For China
China's manufacturing sector is showing solid growth from numbers released for both PMI (Purchasing Mangers' Index) surveys.
Bank Of America "Hustling" To Gather $1.3 Billion Fine
U.S. District Court Judge Jed Rakoff handed down an order for Bank of America to pay $1.27 billion to Fannie Mae and Freddie Mac for restitution of losses from defective mortgages sold by the former Countrywide Financial Corp. which was merged into BofA in 2008.
Is Japan Losing The Inflation Battle?
On the surface it would seem that Japan is well on its way to higher inflation. Core inflation was reported for June to be 2.3% for the past year, and up 3.6% including perishables and energy.
Japan: Exports In Trouble
Japanese exports fell unexpectedly in June by 2% year-over-year. Bloomberg says the median forecast had been for a 1% increase. Imports increased by 8.4% year-over-year, producing a trade deficit of ¥822.2 billion ($8.1 billion).
China: Manufacturing PMI Continues Advance
The HSBC China Manufacturing PMI rose further to 52.0 in the flash reading for July. Both new orders and new export orders expanded at a faster pace than in June.
Russia-Ukraine: How Bad Can It Get?
According to The World Bank, Russia exported energy amounting to 80% of its energy consumption in 2011. According to the U.S. EIA petroleum exports amounted to 7.20 million barrels per day and natural gas 6.25 billion cubic feet.
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