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Vehicle Sales Forecasts: "Strongest December in 10 Years", 17 Million in 2015

The automakers will report December vehicle sales on Monday, Jan 5th. Sales in November were at 17.1 million on a seasonally adjusted annual rate basis (SAAR), and it appears sales in December might be close to 17 million SAAR again.Note:...Show More Summary

Stock Market Enjoys Santa Claus Rally

Morning Money Memo… The stock market is having more than a Santa Claus rally. The U.S. economy is getting stronger with new optimism about growth heading into the new year. The stock market closed yesterday at record highs after the Commerce Department said growth expanded...

Russia's central bank to help companies meet debts

Seeking to stabilize the ruble, Russian authorities are offering low-interest loans to struggling businesses and banks

Science Journal Fraud: Paying for Placement

Yves here. Corruption has become the biggest growth business in the US. The latest example is the subversion of peer-reviewed research in top scientific journals. This isn’t as crass as pay to play in public pension funds, but the results are just as bad. Here, it appears that Chinese services are offering a whole menu […]

On the Economic Boom: Too Much Eggnog?

I hate to put a damper on the party, but the some of the reporting on the economy is getting a bit out of hand. The Post gave us an example, with a piece on the revised fourth quarter GDP numbers headlined, "Robust Economic Growth in the third quarter raises hopes that a boom is on horizon." That's not what Mr. Show More Summary

U.S. jobless claims fall to 7-week low

As labor market improves, more companies are retaining workers in expectation of business growth

Oil boom could boost supply of liquid natural gas

Global demand for plentiful U.S. liquefied natural gas has been booming, but some big hurdles could lead to a slowdown

Weekly Initial Unemployment Claims decreased to 280,000

From the DOL reported:In the week ending December 20, the advance figure for seasonally adjusted initial claims was 280,000, a decrease of 9,000 from the previous week's unrevised level of 289,000. The 4-week moving average was 290,250, a decrease of 8,500 from the previous week's unrevised average of 298,750. Show More Summary

Auto industry acts globally--except on recalls

Lack of cooperation among car makers and governments makes it hard to get dangerous vehicles off the road

Markets reach milestone as Dow hits 18,000

It was a historic day on Wall Street on Tuesday as the Dow Jones closed above 18,000 for the first time ever. The S&P 500 ended with its 51st record close of the year. It follows news that the economy grew at its fastest pace in more than a decade in the third quarter. CBS News business analyst Jill Schlesinger joins “CBS This Morning” to discuss the milestone.

Turkey’s Central Bank Holds Rates Steady for Fourth Straight Month

Turkey's central bank on Wednesday held interest rates steady for a fourth consecutive month, as policymakers maintain a tight stance due to stubbornly high inflation and following the recent selloff in the currency.

MoneyWatch: Economic growth spikes; USPS sets record

The U.S. government upgraded the economy's third-quarter growth to five percent, the fastest pace in more than 10 years. Also, the U.S. Postal Service delivered 28.2 million packages on Monday, the most on any day in its history. Jill Wagner reports on the day's top MoneyWatch headlines.

Not all U.S. states benefiting from cheaper oil

Although the economy is getting a boost from cheaper energy, these eight states are feeling the pinch

States move closer to taxing you by how far you drive

With gas tax revenues falling, one state plans to explore a different way of taxing fuel

What if we abolished Christmas?

One possibility is that the economy would be just fine. This is the classic view of macroeconomics, writes Tim Harford In 1939, Lew Hahn, the head of the Retail Dry Goods Association in the US, noticed something that gave him cause for concern: Thanksgiving would fall on November 30 that year, the latest possible date. […]

Wolf Richter: First Oil, Now US Natural Gas Plunges, “Negative Igniter” for New Debt Crisis

Yves here. Wolf has been keeping a sharp eye out on how shale gas players were junk bond junkies, and how that is going to lead to a painful withdrawal. Here, he focuses on one of the big drivers of the heavy borrowings: the deep involvement...Show More Summary

Bank Resolution under T-LAC: The Aftermath

The Financial Stability Board’s recent consultative document proposes dividing global systemically important banks into holding companies and operating subsidiaries so as to insulate the latter from a major loss. This column poses the...Show More Summary

The Boom Forecasted

A year ago, Jeff Frieden and I forecast (along with others) in Politico Magazine a boom in output. In light of today’s third release for 2014Q3 real GDP, clocking in at 5% SAAR [1], it’s reasonable to ask, are we there yet? Figure 1 depicts the upward revision in GDP from advance to final, in […]

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