Karim writes:

Details firm-especially new orders and employment (highest level since Oct 2007)



Nov Oct
Composite 55.0 54.3
Prices Paid 63.2 68.3
New Orders 57.7 56.7
Employment 52.7 50.9
Export orders 59.5 55.5
Imports 54.5 54.0

4 Responses

  1. James Galbraith condemns the Deficit Commission and it’s pre-ordained outcomes at:

    http://www.newdeal20.org/2010/06/30/why-the-fiscal-commission-does-not-serve-the-american-people-13742/

    The Commission invited expert testimony and then ignored the information presented.

    A link to an excellent Stephanie (Bell) Kelton paper is posted in the ND 2.0 comments. The link was posted as a rebuttal to widely held misperceptions about how the federal government’s finances actually work:

    http://papers.ssrn.com/sol3/papers.cfm?abstract_id=115128

    “After carefully considering the complexities of reserve accounting, it is argued that the proceeds from taxation and bond sales are technically incapable of financing government spending and that modern governments actually finance all of their spending through the direct creation of high-powered money.”

    It is encouraging to see some people are “getting it” and citing the technical analysis of experts.

  2. Le Monde via Truthout: Peak Oil Happened in 2006

    The International Energy Agency (IEA) has just answered that question in its annual report entitled, “World Energy Outlook 2010,” published in mid-November. This is how the agency states its projection(PDF page 6): “Crude oil production will more or less stabilize around 68-69 Mb/d (millions of barrels per day) towards 2020, but will never return to the record level of 70Mb/d it achieved in 2006.” In other words, the peak was 2006.

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