Archives: June 2008

The Importance of E-commerce-corrected!!

Posted by: Michael Mandel on June 30, Categories: Macro

Well...I didn't expect such an, um, overwhelming response to my previous post. I will get to everyone's comments. But first let me respond to the people who worried that e-commerce...

Why U.S. Consumer Spending is Overstated

Posted by: Michael Mandel on June 25, Categories: Macro

Today's consumer spending numbers look pretty good, don't they? Up 0.8%, more than economists expected. Sounds like those U.S. households just keep spending, no matter how depressed they are. But...

Is the Fed living in a fairy-tale world?

Posted by: Michael Mandel on June 25, Categories: The Fed

Is the Fed living in a fairy-tale world? Unemployment is rising, housing prices are plunging, and oil prices are sky-high. Oh, yes, and consumer expectations of their future economic prospects...

May retail sales...

Posted by: Michael Mandel on June 12, Categories: Macro

...are supposedly up 1%,with gains in virtually every category. You will forgive me a snort of disbelief. Something is simply not right here. Let me review the situation. The housing...

A Savings Puzzle

Posted by: Michael Mandel on June 10, Categories: Macro

I am a connoisseur of statistical discrepancies--and I've found a big one in the savings data that I still don't understand. This is going to be extremely wonky--you are forewarned....

This Morning's Employment Report

Posted by: Michael Mandel on June 06, Categories: Labor Market

As shown by my last couple of posts, I've been skeptical of the upbeat "no recession" story that many economists and journalists have been putting out. This morning's jobs report...

Retail Sales, Part II

Posted by: Michael Mandel on June 04, Categories: Macro

What is wrong with this picture? real change in retail trade April08/april 07 U.S. 1.1% Europe 15 -2.9% Europe 27 -0.8% April08/Dec07 U.S. -0.3% Europe 15 -1.2% Europe 27 -0.2%...

Are Retail Sales Really That Strong?

Posted by: Michael Mandel on June 02, Categories: Macro

First, an apology for not blogging for a bit...I've been caught up in other things. But now I'm back in the saddle again... I've been eyeing the retail sales numbers...