Slovenia Has a Better Second Quarter, But the Slump Continues

Sovenian GDP fell by 9.3 percent in the second quarter of this year when compared to the second quarter of 2008. This was the third quarter in a row which has seen a fall in Slovene GDP, and the was the deepest annual drop so far in the current economic crisis. In the first half […]

Unemployment Claims Falling Faster than in Half of Past Recessions

The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report showing that initial jobless claims decreased 10,000 in the latest week to 570,000 from an upwardly revised 580,000 the week prior. The 4-week moving average is now 566,250, less than 100,000 off the April peak. Since the week ended Jul. 18, the average […]

Small Countries, Small Problems?

Bahrain and Qatar’s less than 1 million populations make them the smallest countries in GCC (see Chart 1). Both countries are blessed with natural resources, albeit with varying degrees. Do small countries suffer from their smallness? Do small countries enact better economic policies and grow faster? Are Bahrain and Qatar at a disadvantage because their […]

USA, Argentina and Alan Beattie: Wrong Starting Point. Act II

I appreciate that Alan Beattie took time to comment on my blog.  He mentions that he does not find my critique of the book very convincing.  It is clear from my blog that I was referring to the article (  When I read the article I was disappointed and decided not to buy the book.  […]

Japan Emerges From Recession, but the Slump Continues

Amidst a huge fanfare of euphoria from the press, Japan’s GDP expanded by 0.9% quarter on quarter between April and June, or at a 3.7% annualized rate. In doing so it clocked up the first positive growth in five quarters. Many now claim the worst is over is over for Japan, and in terms of […]

Beijing Car Sales Tick to 1,200/Day

It is staggering the pace at which new autos are hitting the roads of Beijing, with the rate now touching 1,200 a day. After passing the U.S. in terms of new car sales earlier this year, the citizens of China seem eager to make up for lost time in getting to developed world levels of […]

Is this the Start of the Big One?

I don’t believe in market calls, and trying to time turns is a perilous game. But most savvy people I know have been skeptical of this rally, beyond the initial strong bounce off the bottom. It has not had the characteristics of a bull market. Volumes have been underwhelming, no new leadership group has emerged, […]