Taxifornia Lessons
California revenue is up from a year ago. Unfortunately, California revenue is not up as much as expected, while spending is up way more than...
Author : Mish Global Economic Trend Analysis
Gallup Poll Visualizes Effect of Obamacare
Gallup's seasonally adjusted unemployment rate is 8.3% for November, up nearly one percentage-point over October's rate. Gallup's underemployment jumped from 15.9% to 17.2%. The Gallup...
Michigan Passes Right-to-Work Legislation; Email from Canadian Teacher Threatened With $500 Fines Per Day for Not Picketing; Collective Bargaining vs. Company Store
Right-to-Work provisions are at long last coming to Michigan. Reuters reports 'right-to-work' law exempts existing union contracts Right-to-Work could be approved within a week Stunning...
Senator Jim DeMint, Republican Tea Party Activist, Resigns From Senate; DeMint Seeks to “Harden the Jello”
Following the dismal results of Republicans in the last election, and amidst all the Republican infighting over the fiscal cliff comes startling news DeMint resigns...
Charts of the Day: Consumer Debt Components Since 2003 and Since the Start of the 2007 Recession
In response to Deflationary Trends in Consumer Credit, reader John, owner of 37 Fast Food restaurants writes ... Hi Mish I wrote last month regarding...
Italy Retail Sales Sharpest Drop in 17 Months; Germany Retail Sales Stagnate as Margins Squeezed; Eurozone Retail Sales Drop Sharply
Dismal economic conditions in the eurozone accelerate to the downside as evidenced by falling retail sales. Let's take a look at the Eurozone in aggregate,...
Stalemate: Obama Warns of Prolonged Talks as Republicans Rebuff Plan
The word of the day is "stalemate". Last year the Republicans had a chance to accept spending cuts to tax hikes at a 10-1 ratio....
Rise of Intelligent Machines Will Open “Pandora’s Box” Threatening Human Extinction
As robots keep replacing human workers in manufacturing and now retail and food servicing, fears have arisen that artificial general intelligence (AGI) machines will threaten...
Reflections on Meaning of “Last Minute”; The Most Productive Workers on the Planet
Progress on the alleged fiscal cliff has been non-existent. Obama wants tax hikes on the wealthy, Republicans want to close loopholes. With little possibility of...
EU Budget Laugh of the Day “No One Is Discussing Quality”
For now, the EU budget talks have collapsed. One major problem is cross agendas. All 27 nations have to agree to budget changes, and disputes...