Weekly Highlights 21 April 2011

This is the table that accompanies the weekly economic review article:  Initial Unemployment Claims Rise A Harbinger of Poor April Jobs Outlook:

Weekly Economic Release Scorecard:

Item Headline Analysis

BLS study illustrates the common myths
March Leading Economic Index
This index likely has lost its ability to forecast
April Philly Fed Business Survey
Survey is slightly less good but showing regional economy expanding
March Existing Home Sales
Sales volumes are down – normal spring house price increase underway
March New Home Sales
Any way you cut it new home sales are down – but the end is near
Aftermath of Great Recession

10 charts showing the USA atypical economic situation

Comparative analysis of the Indian States’ Economic Freedom
China-US trade Balance

Michael Pettis argues inverse correlation between trade imbalance & USA interest rates
USA Deficit

Tanner & Wray offer their divergent views on handling the USA deficit
USA Budget

Guy Lerner keys off of “shared sacrifices” – and what shared sacrifice means

Rick Davis muses on Bernanke’s options once QE2 ends
Financial Crisis

Washington’s Blog claims lack of prosecution of those responsible for the 2007 financial meltdown makes the USA a failed state
Economic Theory

Michael Hudson maintains modern economic theory has become so abstract it misses what is important

Dick Ehnts correlates capital flows to Spanish wages

Elliott Morss found energy investment opportunities