Just 24 hours ago we explained the beginning of the end of the US automaker "house of cards," detailing how the tumble in used-car-prices sets up a vicious circle as Goldman warns "demand has plateaued." This is most evident in the surge in pre-owned vehicle inventories to record highs, forcing, as WSJ reports, dealers to lower prices, further denting new-car pricing.
The Arctic has been the fascination of many people for centuries.
Hundreds of years ago, the Europeans saw the Arctic’s frigid waters as a potential gateway to the Pacific. The region has also been home to many unique native cultures such as the Inuits and Chukchi. Lastly, it goes without saying that the Arctic is unsurpassed in many aspects of its natural beauty, and lovers of the environment are struck by the region’s millions of acres of untouched land and natural habitats.
Submitted by Mike "Mish" Shedlock
Fed vs. Fed: New York Fed To Issue Its Own GDP Nowcast; Atlanta Fed Too Pessimistic?
It’s Fed vs. Fed in the Nowcasting business. The New York Fed has decided to issue a FRBNY Nowcast, clearly in competition with the Atlanta Fed GDPNow forecast.
The Atlanta Fed has the name GDPNow trademarked.
The Atlanta Fed provides its updates following major economic reports. In contrast, the New York Fed will deliver its version every Friday starting April 15.
Submitted by David Stockman via Contra Corner blog,
As I’ve outlined in recent missives, Japan is at the forefront for Keynesian driven Central Bank monetary policy. Japan was not only the first Central Bank to start ZIRP and QE, it has also launched the single largest QE program in history (a single QE program equal to over 25% of Japan’s GDP).
However, in the last few months, the Head of the Bank of Japan, Haruhiko Kuroda has lost credibility for the markets. Specifically:
1) The markets only rallied for a day after he announced NIRP.