Mike Shedlock

Contributor since: 26 Feb 2010

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• Euro238 Billion Nonperforming Loans at Spanish Banks Despite ECB's Helping Hand

  Published 01 November 2015 | viewed 0 times

  Via translation, El Confidential comments on the Banking Drag of €238 Billion Nonperforming Loans at Spanish Banks. The profitability of banks has plummeted. And only…

• Personal Income, Consumer Spending Rise Less Than Expected; PCE Price Index Negative; 4th Quarter Acceleration Coming Up?

  Published 30 October 2015 | viewed 0 times

  Personal Income, Consumer Spending Weaker Than Economists Expect Today's Personal Income and Outlays report came in below Consensus Estimates. Inflation is not building based on…

• Former Australia Prime Minister Chastises EU on Securing Borders, Economic Migration; Mish for President Review

  Published 30 October 2015 | viewed 0 times

  In a speech I almost completely agree with, former Australia prime minister Tony Abbott chastised the EU in an address at the Second Annual Margaret…

• Courage to Act; Reflections on Fed Hubris; What if Whatever it Takes is Not Enough? Fed Troika?

  Published 29 October 2015 | viewed 0 times

  This past week, Ben Bernanke was in London promoting his book "Courage to Act". Today, Albert Edwards at Societe Generale pinged me with his thoughts.…

• 3rd Quarter Advance GDP Estimate +1.5%; December Hike Odds Up to 46.5%

  Published 29 October 2015 | viewed 0 times

  The third quarter advance (initial) GDP estimate came in at 1.5% a bit under the Econoday Consensus of 1.7%, a bit over the Atlanta Fed…

• Austria Announces Fence With Slovenia; Irony of German Whine; Cascading Fences; Mish Proposed Strategy

  Published 28 October 2015 | viewed 0 times

  Two months ago, Austria's chancellor Werner Faymann criticized Hungary for building a fence along its border. Faymann proclaimed "To think that you can solve something…

• Slovenia Calls on Army, Private Security Forces, Ponders Article 222 for EU Military Aid to Halt Flow of Migrants

  Published 28 October 2015 | viewed 0 times

  Slovenia has a population of 2 million people. But in the last 10 days alone, 84,000 migrants have flooded the country. In response, Slovenia has…

• EU Rules Bitcoin is a Currency, US Says Bitcoin is a Commodity; Which Side is Correct? What About Gold and BitGold?

  Published 27 October 2015 | viewed 0 times

  European Court of Justice Rules Bitcoin is a Currency Last week, the European Court of Justice ruled Bitcoin is a Currency and Exchanges are VAT-exempt.…

• Sales, Earning Estimates Contract First Time Since 2009; US Back in Recession?

  Published 26 October 2015 | viewed 0 times

  US Back in Recession? Large US corporations posted their first decline in both earnings and sales since the great recession. Are we back in recession?…

• Gardner Business Index Shows Small to Medium Sized Businesses Struggling Most

  Published 25 October 2015 | viewed 0 times

  I have an interesting update from Steve Kline Jr., Director of Market Intelligence at Gardner Business Media, Inc., a B2B media company that conducts surveys…

• Third Party Logistics: Will Amazon Disrupt UPS and Uber or Will Uber Disrupt Amazon, FedEx, and UPS?

  Published 24 October 2015 | viewed 0 times

  Last week Uber rolled out on-demand delivery in New York, Chicago, and San Francisco. Is that the wave of the future? Or Is Amazon About…

• China Renews Commitment to Global Easing Party; US Tightening by Force

  Published 23 October 2015 | viewed 0 times

  Fresh on the heels of an ECB announcement of more QE and the further lowering of the excess reserve rate already at -0.2%, China Nervously…

• Mayor of Barcelona Prepares New Digital Local Currency

  Published 23 October 2015 | viewed 0 times

  The new mayor of Barcelona, Ada Colau, says Preparations Underway for New Local Digital Currency. The objective of the currency, whose name will be decided…

• As Draghi Hints at More QE, German Bond Yields Hit Record Low Negative Yields; Economic Madness

  Published 22 October 2015 | viewed 0 times

  Quantitative easing in the eurozone to the tune of €1.1 trillion has not raised consumer price inflation as the ECB had expected. But neither bureaucrats…

• Existing Home Sales Up 4.7% Following Last Month's 5% Decline; Home Price Weakness

  Published 22 October 2015 | viewed 0 times

  Existing home sales bounced this month, coming in just above the high end of Econoday Economists' Estimates. Existing home sales bounced back very strongly in…

• Merkel Seeks to 'Europeanise' Border Controls; Emergency EU Meeting Called

  Published 21 October 2015 | viewed 0 times

  Emergency EU Meeting Called Animosity over millions of migrants entering the EU has finally reached the crisis stage. In an emergency meeting this weekend, called…

• Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside

  Published 20 October 2015 | viewed 0 times

  There's something for bulls and bears alike to cheer about in today's housing starts report. Starts were ever-so-slightly above the top Econoday Estimate but permits…

• Socialist Finds 14 Flaws in Capitalism and Seeks Help to Fix Them; Mish 14 Point Rebuttal

  Published 20 October 2015 | viewed 0 times

  Those looking for a big laugh can find one in Philip Kotler's Huffington Post article entitled Fix Capitalism - Join Us! Kotler says "The economic…

• Swamped By Stupidity; Peak Merkel

  Published 19 October 2015 | viewed 0 times

  Backlash against sheer stupidity is starting to build. I am talking about German Chancellor Angela Merkel's decision to ramrod an agreement that requires EU countries…

• Headline #1: 'Most Americans Have Less than $1,000 in Savings'; Headline #2: People Saving Too Much is Now a Problem

  Published 18 October 2015 | viewed 0 times

  A pair of conflicting headline stories caught my eye. One headline says Americans have too little savings while the other says we are saving so…