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In his syndicated column for TradingFloor.com, Ambrose Evans-Pritchard writes that the US financial showdown with Russia is more dangerous than it looks.
Charles Hugh Smith argues that it's time to ditch the Consumer Price Index (CPI), saying that the official rate of inflation is a "transparently inaccurate and misleading metric" that fails to reflect reality. In his analysis, Hugh Smith writes that the debate over inflation is intrinsically flawed and what really matters is not the overall rate of inflation, but the purchasing power of earned income. What do you think?
Thursday’s key numbers to watch include: US initial jobless claims, the weekly update on US consumer sentiment via the Bloomberg Consumer Comfort Index, and GBPUSD.
Britain will see a boost in measured economic activity later this year when activities previously never measured — specifically, drug dealing and prostitution — are incorporated into the measure. At first the changes will only include U.K. production of cannabis, drug smuggling, and prostitution, but it is expected that off-the-books employment, black market gambling, software piracy, and sales of stolen goods will also eventually be included.
Well-well... When there's nothing to measure - a good idea to measure at least something, to proove, that economic is still (or yet?) alive. "The patient is...
How do they quantify piracy, black market gambling, theft, drugs and prostitution ?? More-over would you trust the assessor or would you wonder if they are involved...
Today’s key numbers to watch include an update on the UK labour market and a pair of widely followed economic reports for the US: industrial production and housing starts.
