Prices generally in the "spaghetti and macaroni" category for the Bureau of Labor Statistics rose to $1.375 a pound in August.» Read More
If you listen closely enough, you can hear the stagflation storm brewing across the economy. It’s the sound of rising prices and weak economic growth conspiring to create the Federal Reserve’s worst enemy.
Friday’s lame GDP print exemplified where we’re heading, with the economy gaining just 2.8 percent in the fourth quarter of 2010 no matter how much government economists tried to talk up the robust corporate balance sheet and supposed gains in employment.
Yes, this happened.
Municipal bond issuance dropped to an 11-year-low in January. It has not picked up substantially in February, according to the muni bond people I speak to.
January saw $12.2 billion of new debt, a decline of nearly 63 percent from January 2010. Volume hasn’t been this low since January of 2000.
The standard explanation for this is the end of the Build America Bond program, which offered qualified issuers a 35 percent federal tax subsidy to issue taxable debt.
Massive instability in North Africa is terrible news for a fragile US recovery: Though just how terrible remains to be seen.
The New York Times cuts to the chase this morning :
"Higher oil prices restrain growth because they translate to higher fuel prices for consumers and businesses. Mr. Lafakas [a Moody's energy economist] estimates that oil prices are on track to average $90 a barrel in 2011, from $80 in 2010, an increase that would offset nearly a quarter of the $120 billion payroll tax cut that Congress had intended to stimulate the economy this year."
Those are staggering numbers.
Nicole Lapin, of CNBC's Worldwide Exchange, explains what she's long and what she's short this week.
The bullion bull run is strong as investors flock to gold and silver as a safe haven from the turmoil in the Middle East. On Thursday, the spot price of gold and silver hit an all time high in Mumbai, India's largest bullion market.
I caught up with George Milling-Stanley,Managing Director of Government Affairs at the World Gold Council, to talk about what some of my contacts are calling "a golden wave of opportunity."
U.S. economy grew 2.8%, below economists forecasts. [CNBC.com via Reuters]
London Stock Exchange halted due to technical glitch [CNBC.com via Reuters]
"Banks, Obama butt heads on mortgages" [NY Post]
"Time to Plot Fed's Exit Strategy Getting Closer: Lacker" [CNBC.com's Jeff Cox]
Undervalued renminbi kills US manufacturing competitiveness. [Deal Breaker via Tudor Investment]
25 guys to avoid on wall street [NetNet]
Felix Salmon on the market as a schizophrenic pundit. [FelixSalmon]
Daniel Indiviglio on home prices and foreclosure trends. [The Atlantic]
"The Great Nevada Hooker Debate" [Forbes]
New numbers from Freddie. [Calculated Risk]
Leaving Goldman to blog. [The Observer]
Moving to New York. [Thought Catalog]
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
The head of Appaloosa Management has returned to his cautious stance from late spring after a period of feeling more optimistic.
Big name investors like Dan Loeb and David Einhorn helped raise $6 million to fight poverty at a charity event.
'Several reasons for optimism' -- Here's where a $40 billion trade deficit comes in handy.