Why are economists’ predictions so awful?

Why are economists’ predictions so awful?

By Mike Shedlock Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists’ Forecast: Here We Grow Again. Forecasters in the latest Wall Street Journal survey estimated the U.S. economy contracted at a 0.3% pace in the first quarter because of hits from winter weather and […]

Where’s all the (fake) money?

Where’s all the (fake) money?

By Philippe Gastonne / The Daily Bell Is cash still king? Based on data from the Federal Reserve Board, you might think so. The Fed routinely tracks M1, which covers cash plus checking deposits. In March, the cash component of M1 had a face value of $1.3 trillion, a record high. About $1 trillion of […]

How GDP metrics distort our view of the economy

How GDP metrics distort our view of the economy

By Christopher P. Casey / Mises Daily GDP purports to measure economic activity while largely divorcing itself from the quality, profitability, depth, breadth, improvement, advancement, and rationalization of goods and services provided. For example, even if a ship — built at great expense — cruised without passengers, fished without success, or ferried without cargo; it […]

Office Depot shareholders to vote June 19 on Staples merger

Office Depot shareholders to vote June 19 on Staples merger

May 18, 2015 Marcia Heroux Pounds Sun Sentinel Posted with permission from MCT Information Services Republish Reprint FORT LAUDERDALE, Fla. — Office Depot shareholders will meet June 19 in Boca Raton to vote on the retailer’s $6.3 billion proposed merger with rival Staples. In a regulatory filing Monday, Office Depot announced a vote on the […]

Frac sand safe despite what environmentalists say

Frac sand safe despite what environmentalists say

From NCPA The rate of silica sand mining in the United States has increased in recent years, due in large part to the tremendous growth in hydraulic fracturing for oil and gas using horizontal drilling techniques. Some environmental activist groups and community organizers contend silica sand mining presents significant threats to human health and the […]

Welfare and social insurance lead to declining desire to work

Welfare and social insurance lead to declining desire to work

From NCPA The U.S. labor market has witnessed two apparently unrelated trends in the last 30 years: a decline in unemployment between the early 1980s and the early 2000s, and a decline in labor force participation since the early 2000s. A substantial factor behind both trends is a decline in desire to work among individuals […]

Judge Rejects Bondholders’ Lawsuit Over Pension Debt

Judge Rejects Bondholders’ Lawsuit Over Pension Debt

By Mike Shedlock Judge Rejects Bondholders’ Lawsuit Over Pension Debt In bankruptcy, the federal courts have ruled that cities can reduce pension obligations. They can, but they don’t have to. In Detroit, bondholders were sacrificed to maintain police and fire pensions with minimal haircuts. On Monday, U.S. Bankruptcy Judge Meredith Jury ruled against bondholders in […]

Eric Peters: Live agent connectivity

Eric Peters: Live agent connectivity

By Eric Peters Things necessarily begin somewhere. Usually, that somewhere is a backwater of some kind; only a few people are involved and the majority either are unaware it’s happening at all or they don’t care because hey, it’s not happening to them. Until, one day, it does. Over the road truckers were the first […]