Mish Shedlock | TalkMarkets | Page 337
Investment Advisor Representative - Sitka Pacific Capital Management
Mike Mish Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit Sitka Pacifics Investment Management Page to learn more ...more

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"Too Soon To Fret" Says ECRI, No Recession On Horizon: Another Blown ECRI Call?
And the ECRI still brags about not missing calls, while attempting to sweep two blown calls under the rug.
Bailout Fallout: Juncker Lies To Cameron In Revival Of EFSM; British Taxpayers Protected In Final Deal
British taxpayers will not be left exposed for another Greek bailout, George Osborne hopes, under a compromise struck with Jean-Claude Juncker.
Hey Janet, It's July 15!
Federal Reserve Chair Janet Yellen told Congress Wednesday that the Fed still plans to begin raising interest rates this year amid an improving economy but that it will likely push them up gradually.
Empire State Manufacturing: New Orders Negative 4th Time In 5 Months; Slight Bounce In Industrial Production
The manufacturing sector isn't picking up any steam this month based on the Empire State index which came in only just above zero, at 3.86. The new orders index, ominously, is in negative ground at minus 3.50.
China Denies Its GDP Is Inflated; Chinese Stocks Resume Plunge With 3% Slide; Business Outlook Index Drops To Record Low
Asian equities were mixed on Wednesday, with Shanghai stocks deepening losses despite better-than-expected Chinese gross domestic product data.
White Knight Irony: IMF Threatens To Walk Away From Bailout Deal Citing Unsustainable Debt
In the final minutes of the gunpoint "negotiation" between Greece and its creditors, the last two sticking points were IMF involvement and €50 billion in pledged Greek assets in return for another "bailout".
Deflationary Pressures Unabated; Another One-Hit Wonder; Transitory Tales
In spite of counterproductive attempts by the Fed and Central Banks to foster price inflation, debt overhang has stymied those efforts, at least in regards to consumer prices and import/export prices.
Retail Sales Unexpectedly Sink Below The Lowest Economist's Estimate; September Hike? Really?
Economists predicted a rise in sales of 0.3%. Actual sales came in at -0.3 percent, a half-percentage-point below the lowest estimate, and another wrong sign for the economists.
Humiliation; Arrogance; Crucifixion; Demolition Of Eurozone Project
The eurozone remains fatally flawed. Humiliation, even crucifixion, does not change reality. Indeed, it likely assures an even more violent eurozone breakup sometime down the road.
Breathtaking Political Capitulation; Tsipras Should Resign; Tsipras Trades Royal Flush For Draw At Inside Straight
Tonight, Tsipras reversed himself 180 degrees, and accepted the newest "final offer" that was far worse than the one he turned down.
Critics Flock To Site "ThisIsACoup"; Killing The European Project; Illusions; Who's Going To Pay?
One way or another, Germany is going to pay (by bailout, by default, or by destructive breakup).
Tsipras' Choice: Total Capitulation Or Grexit; Text Of 4-Page Eurozone Demands
We finally have "THE Final Offer" (I think). The wording of this document makes it clear Germany wants to push Greece out of the Eurozone. Greece has no chance of restructuring if it accepts all of the demands.
Greece Offered "Temporary" Grexit In 4-Page Proposal; Merkel's Choice: "No Deal At Any Cost"; Waterboarding The Ward Of The Eurozone
Today, Merkel says "No deal at any cost". Hardliners in Germany, Finland and other places have dug in their heels too as the Rift between German and France widens.
Latest Proposal "May Provide" Negotiation Basis; Greece Needs €80+ Billion; Doubters, Haircuts, Temptation; Merkel's Choice
Eurozone finance ministers have concluded "under certain conditions", the latest Greek bailout proposal "may provide" a basis for negotiation. Germany and other hard-liners remain skeptical but Greece clears first hurdle to avoid Grexit.
"Bold Proposal" To Screw European Taxpayers Again
You never know who's reading your blog, until you receive emails. I received a pair of them this week from Father Joseph Fessio, S.J., Founder and Editor of Ignatius Press.
Reflections On "Uncertainty"; Yellen Expects Rates Hikes But "Uncertain" About Growth, Jobs, Inflation, Wages
It is my judgment that the lower level of the unemployment rate today probably does not fully capture the extent of slack remaining in the labor market--in other words, how far away we are from a full-employment economy.
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