Imminent Recession?

So says David Malpass in the WSJ: Data released this week by the Commerce Department waved bright red recession flags—orders for durable goods fell 13.2% in August and inflation-adjusted personal income fell 0.3%. … the new Commerce Department numbers, combined with his stay-the-course approach, point to recession in 2013. And James Pethokoukis writes “GDP collapse puts U.S. economy […]

How Long Can These Markets Run on QE ?

Today marks the end of the month and quarter. Hence, it is a good time to look over the key economic and market data, and try to assess where we are in the overall cycle. The data itself suggests several contradictory factors are driving markets. Durable goods orders — those big ticket items like autos, washers, and […]