The table below itemizes the major events and analysis this week. The full review article is USA High Labor Cost Not Primary Reason For Jobs Export.
Weekly Economic Release Scorecard:
|January Balance of Trade
||Grew $2.3 billion
||Trade balance is currently trending lower|
|December Wholesale Sales
||Historical high for Decembers
|William Black: How Wallison is Blind to Accounting Control Fraud||Deregulation, desupervision and de facto decriminalization drove accounting fraud|
|January Diesel Consumption
||Blame it on the weather
|Mortgage Applications down
||This statistic is Irrelevant – there a lot of cash home purchases
||Explores relationship between goods trade import & jobs growth
|2010 Rail traffic
||Will growth continue into 2011?
|January Small Business Sentiment
||Up 1.5 points
||Small Business optimism growing fast then consumer optimism
||Hiring and Separations are equal
||Increase consumer spending?
|December Consumer Credit
||Improved yes MoM – but below “normal” December rises.
||Destabilizing and may have been a factor in the lead up to the Great Recession
|China’s 2010 GDP
||When will China be the largest economy?
|Opinion: China Currency Manipulation
||Michael Pettis explores what is good and bad for China and the USA
|Opinion: Investor vs Working Class
||Derryl Hermanutz says you need a strong natural resource sector.|