N.Y. Fed trims U.S. fourth-quarter GDP growth view to 2.4 percent
NEW YORK (Reuters) – The U.S. economy is growing at a 2.44 percent clip in the fourth quarter as data showed the U.S. trade gap hit its widest in 10 Continue Reading
U.S. job growth cools in November, monthly wage gains modest
U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Continue Reading
For the American Economy, Storm Clouds on the Horizon
Home sales are slowing as interest rates rise. David Zalubowski/Associated Press WASHINGTON — Emerging signs of weakness in major economic sectors, including auto manufacturing, agriculture and home building, are prompting Continue Reading
The Limits of Renewable Energy and the Case for Degrowth
The energy transition is the focus of much discussion. To read the accounts in the mainstream media, one gets the impression that renewable energy is being rolled out quickly and Continue Reading
The Climate Crisis as Seen by the Economics Mainstream
Ed. note: This is Chapter 45 of Brian Davey’s free online book C redo, published in 2014. Mainstream economics frames the climate crisis in a particular way but this approach Continue Reading
Crude’s Collapse & The ‘C’ Word
Why aren’t more people talking about this? It’s a huge development and nary a peep anywhere. The mainstream media is filled with baited expectations for 3% wage growth on Payroll Continue Reading
Degrowth: A Call for Radical Abundance
When orthodox economists first encounter the idea of degrowth, they often jump to the conclusion that the objective is to reduce GDP. And because they see GDP as equivalent to Continue Reading
General Motors Profit Jumps on Sales of Pricier Pickups, SUVs
GM shares were trading at $36.99 in midafternoon trading, up 10.2%. The company stood by its 2018 profit outlook of $5.80 to $6.20 a share, saying it should come in Continue Reading
Rallying Oil Prices Send Eurozone Inflation To Six-Year High
Rising oil and energy prices sent the inflation in the euro zone to the highest in nearly six years in October, a flash estimate from Eurostat, the statistical office of Continue Reading
Our Bonus Decade
“The sense of security more frequently springs from habit than from conviction, and for this reason it often subsists after such a change in the conditions as might have been Continue Reading
US stocks head for worst month since the financial crisis
Wall Street headed for its worst month since the financial crisis after discouraging forecasts from some of the world’s largest technology groups triggered a wider sell-off, reigniting fears the longest Continue Reading
U.S. Economy Grew at 3.5% Rate in Third Quarter
The Commerce Department released its initial estimate of third-quarter economic growth on Friday, providing the latest snapshot of the American economy. The Numbers • United States gross domestic product rose Continue Reading
Oil Under Threat As Global Economy Struggles
Warning signs about the slowing of the global economy continue to crop up, and market jitters are taking the steam out of oil prices. U.S. corporate earnings are no longer Continue Reading
China Finds Big-Ticket Spending Is a Road to Nowhere
China bolstered economic growth for decades by pouring trillions of dollars into roads, factories, railroads and more, and doubled down to protect the economy from the global financial crisis of Continue Reading
Global Economy Throwing Up Red Flags For Oil
Investors are feeling the most pessimistic about the health of the global economy in a decade, according to a survey from Bank of America Merrill Lynch. The gloom is spreading, Continue Reading
U.S. Unemployment Rate Falls to Lowest Level Since 1969
“This is the best job market in a generation or more,” said Andrew Chamberlain, chief economist at recruiting site Glassdoor. Unemployment rates below 4% are extremely rare in 70 years Continue Reading
While Economic Growth Continues We’ll Never Kick our Fossil Fuels Habit
We’re getting there, aren’t we? We’re making the transition towards an all-electric future. We can now leave fossil fuels in the ground and thwart climate breakdown. Or so you might Continue Reading
Did the Club of Rome Ever Disavow “The Limits to Growth”? A Story of Ordinary Disinformation
The Club of Rome is inextricably linked to the legendary report that it commissioned to a group of MIT researchers in 1972, “ The Limits to Growth .” Today, nearly Continue Reading
Financial Experts Predict Crash Under Trump Greater than Depression
Financial experts noted several ominous economic indicators, including skyrocketing student loans and U.S. household debts, that could predict a crash “worse than the Great Depression,” according to a report in Continue Reading
Did the Club of Rome Ever Disavow “The Limits to Growth”? A Story of Ordinary Disinformation
Aurelio Peccei in 1969, when he was appointed the first president of the Club of Rome The Club of Rome is inextricably linked to the legendary report that it commissioned Continue Reading
Strong Economy Drove Wages Higher in August as Hiring Heats Up
More on the Economy Wage growth has been a missing ingredient in the expansion. It hovered for years below pre-recession levels but has been creeping higher since 2015, with the Continue Reading
End Of Petrodollar Hegemony May Happen Soon and Badly Impact Indebted America
The United States is currently waging economic warfare against one tenth of the world’s countries with cumulative population of nearly 2 billion people and combined gross domestic product (GDP) of Continue Reading
Global economic outlook is darkening: Kemp
Cyclical indicators point to slower and more uneven growth in the global economy for the rest of this year and into 2019, which means the rise in oil consumption is Continue Reading
Expect production cuts without tariff relief, U.S. energy group says
Steel tariffs are creating headwinds for the U.S. energy sector, impeding with the government’s own objectives and stifling production, industry leaders said. “The Trump Administration has supported the development of Continue Reading
‘A good living but a rough life’: trucker shortage holds US economy back
The Miracle Mile in Carlisle, Pennsylvania, is a vital capillary in the US freight transport system. Linking interstate highway 81 to the Pennsylvania Turnpike, the road is just an overnight drive Continue Reading
Just the Fear of a Trade War Is Straining the Global Economy
Only a few months ago, the global economy appeared to be humming, with all major nations growing in unison. Now, the world’s fortunes are imperiled by an unfolding trade war. Continue Reading
Steep Oil and Strong Dollar Make Toxic Brew for Global Economies
For Americans, rising oil prices are threatening $3-a-gallon gasoline and pushing up prices for plane tickets. In many other parts of the world, today’s crude rally is more painful—sparking protests, Continue Reading
What’s Wrong With The Economy: 9 Toxic Dynamics
These nine dynamics are mutually reinforcing. Beneath the surface signals of an eternally rising stock market and expanding GDP, we all sense something is deeply, systemically wrong with the U.S. Continue Reading
OPEC data offer glimpse at GDP impact of production cuts
Angola, Libya, and Iran led the pack among OPEC members when comparing GDP figures from before and after the group’s production agreement, data show. Economists at the Organization of Petroleum Continue Reading
Why Oil Markets Should Fear Trump’s Trade War
“We’re putting the trade war on hold,” U.S. Secretary of Treasury Steven Mnuchin said on “Fox News Sunday,” nearly two weeks ago. That didn’t go down well with President Trump Continue Reading
Asian Economies, Not Concern Over Climate Change, End Fossil Fuel Dominance
The expansion of Asian populations and economies is expected to have unprecedented and unpredictable impacts on world resources. The task of meeting future energy needs is daunting. The Chinese have Continue Reading
Key Oil Industry Figures To Discuss OPEC Policy, Sanctions This Week
Key oil ministers and company executives will gather in Russia later this week for the St. Petersburg International Economic Forum, and expectations are that the business meeting will provide the Continue Reading
‘We’re right at peak gold’: All the major deposits have been discovered
Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached “peak gold,” saying that from here on out, mine production will continue to Continue Reading
Dollar Roars Back as U.S. Growth Story Wins Over World Markets
The dollar is rallying again after floundering for most of the past year, another sign that global growth momentum may be shifting back to the U.S. and away from other Continue Reading
Weak consumer spending seen restraining U.S. growth in first quarter
The U.S. economy likely slowed in the first quarter as growth in consumer spending braked sharply, but the setback is expected to be temporary against the backdrop of a tightening Continue Reading
Slowdown in France Raises Questions Over Eurozone Recovery
The French economy slowed in the first three months of the year, but Spain continued to enjoy a robust expansion, raising questions over the long-term strength of the eurozone’s recovery. Continue Reading
Will Higher Oil Prices Boost The Global Economy?
A part of those petrodollars could flow back into the global markets if oil producing countries boost investments in various asset classes, according to some large investment banks. These potential Continue Reading
Another Oil-Backed Cryptocurrency Launches
New York-based investment and holding company Signal Capital Management said on Monday that it had launched a cryptocurrency backed by oil and gas reserves in what it says is the Continue Reading
U.S. Employers Added 313,000 Jobs in February
Robust hiring is drawing people into the U.S. labor market, a healthy mix that suggests the economy can run strong without overheating and forcing the Federal Reserve to curb growth Continue Reading
The Economy Is Looking Awfully Strong
A building under construction in Franklin Lakes, N.J., this week. About 313,000 jobs were added last month. There are 39 pages in the Labor Department’s February report on the employment Continue Reading
Will water ever be worth more than oil?
Cape Town, in South Africa, has been declared a natural disaster. Nature has declared that the world’s supply of water is fixed. As a means of keeping humanity alive, it Continue Reading
EROEI: A Useful Measure Or A Distraction?
EROEI = Usable Acquired Energy / Energy Expended It seems so simple. If the amount of energy produced relative to the amount of energy utilized in producing that energy tends Continue Reading
Dr. Charles Hall: The Laws Of Nature Trump Economics
Dr. Charles Hall may not be a name you instantly recognize, but it should be. Now a Professor Emeritus of the College of Environmental Science and Forestry, Dr. Hall is Continue Reading
As Oil Price Increases, Does Employment Follow?
Crude oil prices and rig counts are rising in the US and many are wondering how this will affect industry employment. As the oil and gas industry welcomed higher crude Continue Reading
How The Fed Could Hammer Oil Producers
A rising interest rate cycle. A trend that has only been accentuated by the Federal Reserve’s aggressive plans to accelerate interest rate hikes and ongoing concerns over an impending major Continue Reading
Gail Tverberg: Raising Interest Rates Is Like Starting a Fission Chain Reaction
Central bankers seem to think that adjusting interest rates is a nice little tool that they can easily handle. The problem is that higher interest rates affect the economy in Continue Reading
Every One of the World’s Big Economies Is Now Growing
A decade after the world descended into a devastating economic crisis, a key marker of revival has finally been achieved. Every major economy on earth is expanding at once, a Continue Reading
Oil prices pressured by slip in U.S. GDP
With the U.S. president touting his nation’s economy, crude oil prices wavered around even amid a weaker GDP and new support Friday for the greenback. Speaking at the World Economic Continue Reading
Beijing wins battle for blue skies — but the poor are paying a price
One year ago, China’s capital city was in the grip of suffocating and potentially fatal smog that made life a misery and breathing downright dangerous. This month, the air in Continue Reading
Is A “Geopolitical Recession” Looming?
Eurasia Group’s Ian Bremmer says that 2018 is “by far the greatest geopolitical risk environment that we’ve ever seen” and that this could be the year where the international community Continue Reading