Economics
This Week’s Data
Other
I found this surprising. The US’s number one export--energy:
http://mjperry.blogspot.com/2011/12/new-age-of-americas-energy-abundance-no.html
Still no signs of inflation in the macro numbers (short):
http://mjperry.blogspot.com/2011/12/bpp-data-shows-inflation-trending.html
This is a great lesson in economics from Greg Mankiw. Unfortunately, it is also very long. However, it does explain why running large budget deficits hurt wage earners and favor owners of capital—a result to which Obama seems completely oblivious:
http://www.economics.harvard.edu/files/faculty/40_whatdobudgetdeficitsdo.pdf
Politics
Domestic
A chart on crony capitalism--a picture is worth a 1000 words:
http://www.nakedcapitalism.com/2012/01/crowd-sourcing-the-revolving-door.html
International
China’s PMI rebounds:
http://www.investmentpostcards.com/2012/01/02/china%E2%80%99s-manufacturing-pmi-rebounds/
European PMI’s continue to contract but less than expected (short):
http://www.zerohedge.com/news/european-economy-contracts-fifth-month-row-more-pain-ahead
Iran continues to saber rattle (medium):
http://www.zerohedge.com/news/iran-threatens-retaliation-if-us-carrier-returns-persian-gulf-where-5th-navy-stationed
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