Submitted by The Capital Spectator
It’s called the Great Moderation, and it’s roughly 20 years old, give or take. The burning question: will it get any older.
The moderation is a reference to the fall in macroeconomic risk in the U.S. since the mid-1980s. GDP volatility has fallen dramatically since the roller coaster ride of the 1970s […]

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Submitted by Econbrowser
West Texas Intermediate closed today above $115/barrel. Does that reflect changes in the fundamentals of world supply and demand? My answer is no.
Let me acknowledge first that there has been some interesting news about world oil supplies. Nate Hagens noted that, although global oil production has stagnated over the last several years, the […]

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Submitted by CARPE DIEM
Chinese Yuan/USD, 5-year trend.
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Submitted by CARPE DIEM
Bloomberg–International Business Machines, the largest computer-services company in the world, said Wednesday that profit in the first quarter had jumped 26% on strong orders overseas, far exceeding analysts’ expectations. IBM has cut its dependence on U.S. clients by expanding in faster-growing countries such as Brazil, Russia and China, where sales climbed 26% […]

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Submitted by CARPE DIEM

Not sure what’s going on here, but the odds of a 2008 U.S. recession on Intrade.com just fell from 70% to 20.5%.
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Submitted by CARPE DIEM
From Don’t Mess With Taxes: Above is a graphic showing the number of pages in the tax code from its inception in 1913, when the code contained 400 pages. That number held pretty steady until 1945, when it ballooned to 8,200 pages. The code hit 14,000 pages by 1954 and there was […]

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