“Economics bloggers seem the most pessimistic in their outlook on the U.S. economy so far for 2011,” according to the Kauffman Foundation’s latest quarterly survey of 200 economics bloggers, including the views of yours truly. According to the report, 96% of the bloggers polled think overall economic conditions are “mixed, facing recession, or in recession.”
Daily Archives: November 1, 2011
Major Asset Classes | Oct 31, 2011 | Performance Update
October was a month of renewal. After sharp losses virtually across the board in September, last month witnessed a healthy dose of the opposite. But in a sign of the times, the last day of October suffered a heavy bout of selling in risky assets amid new fears that the crisis in Europe rolls on. The red ink is spilling anew this morning as I write. For a brief, shining moment, however, it looked like there was a light at the end of the tunnel. But last month is suddenly so yesterday.
Australia Rethinks Inflation Worries
Bloomberg reports: “Australia’s central bank lowered its benchmark interest rate today for the first time since April 2009 as inflation eases and weaker global growth threatens to slow the nation’s resource-driven economy.” The Reserve Bank of Australia cut its benchmark rate by 25 basis points to 4.5%.