The ISM Manufacturing Index increased in September to 51.6 from 50.6, reflecting a stronger pace of expansion in the manufacturing sector. As an early reading of last month’s economic activity, the ISM index offers a bit of optimism at a time of rising fears that a new recession is approaching.
Monthly Archives: October 2011
Is That A Recession Lurking In The Distance?
A new recession is inevitable, predicts the Economic Cycle Research Institute. “Early last week, ECRI notified clients that the U.S. economy is indeed tipping into a new recession,” the consultancy announced on Friday. “And there’s nothing that policy makers can do to head it off.”
Major Asset Classes | Sep 30, 2011 | Performance Update
September was a cruel month for risky assets, delivering the worst batch of red ink among the major asset classes since the financial crisis was roaring in October 2008. Quite simply, there was no place to hide from the selling. Well, almost no place.
Book Bits For Saturday: 10.1.2011
● The End of Progress: How Modern Economics Has Failed Us
By Graeme Maxton
Author’s lecture and book summary via publisher, Wiley
We live in an Age of Endarkenment. Our economic, social and political systems have failed us. Modern economics has not done what it promised. It has widened the gap between rich and poor. It has not allocated the world’s resources fairly. It has brought the West to the brink of financial ruin. It has valued short-term gain more than long-term progress. It has made us focus on the individual, not society. The social consequences are easy to see. Much of the world is laden with debt. Our planet is being scraped clean of the resources needed by future generations. Science and technology are exploited for profit, not social advancement. The cult of celebrity, rise in global greed and belief that information is knowledge are limiting our imaginations. We are ill-equipped to respond to these challenges. We have been dumbed-down. Our politicians have become self-serving. They play on our fears, monitor us without justification and promote conflicts for their own interests. China’s rise will make these problems worse… Economist Graeme Maxton looks at what brought us to this state and what we can do about it.
