Europe Is Literally Imploding From The Inside: UK Heading Toward Third Recession In 4 Years, Spain’s Tax Revenue Drops 20% And Budget Deficit Grew by 35.4% In January, Eurozone Industrial Production Worse Than Expected As Unemployment Rises To Record Levels, And Italy’s Industry Chiefs Have Warned That The Country Faces A “Full Credit Emergency”

UK Heading Toward Third Recession In 4 Years

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UK industrial production and manufacturing production dived in January, according to the latest official numbers released today.

The report raising fears that the UK [...]

Will DOW Hold 14K? US To Reduce War Spending MASSIVELY In Coming Years, Obama’s Balanced “Tax-Loophole” Closing Will Crush Corporate Earnings, Insider Selling Surges, And World Risks ‘Perfect Storm’ On Capital Flows As Currency War Started

Sucker Alert? Insider Selling Surges After Dow 14,000

Insiders have been pulling out of stocks just as small investors are getting in.

Selling by corporate executives has surged recently as the Dow Jones Industrial Average hit 14,000 and retail investors flooded into stocks. The amount of insider selling has usually preceded market selloffs.

“In almost perfect coordination with an equity market that was rushing toward new all-time highs, insider sentiment has weakened sharply [...]

Shocking chart shows China has blown past the U.S. in an important area

From Carpe Diem:

The United Nations updated its National Accounts Main Aggregates Database today with data for 2011.

The chart compares the annual manufacturing output of the U.S. and China from 1970 to 2011 measured in current U.S. dollars. Before 2004, the United Nations only reported “Mining, Manufacturing, and Utilities” for China, so the comparison above is for that measure of manufacturing in both countries, rather than just “manufacturing.”

In 2010, the manufacturing [...]

Australia bucks the trend, yet again…

Federal Treasurer Wayne Swan has described the latest economic growth figures as “stunning” and has declared that they should put an end to the “doomsayers”.

The National Accounts figures show the Australian economy grew by 1.3 per cent in the March quarter – significantly higher than what economists were predicting.

“What a great day for Australia and what a stunning set of figures,” Mr Swan said.

“It says something very special about our [...]

BERLUSCONI TO QUIT

From FT:

Silvio Berlusconi is to resign as Italy’s prime minister following the approval of a new budget law, the country’s president was quoted as saying on Tuesday evening.

A senior official told the Financial Times that Mr Berlusconi has proposed to resign after parliament passes a new financial stability law containing the reform measures agreed with the European Union.

News of the billionaire prime minister’s plans to stand aside came after a [...]

In the clothing and shoes category, 35.6% of U.S. consumer purchases in 2010 was of items with the “Made in China” label

By Galina Hale and Bart Hobijn, Frbsf.org

The U.S. Content of “Made in China”

Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the “Made in China” label. Although the fraction is higher when [...]

UPDATE: Portugal edges toward bailout after govt quits

LISBON, Portugal (AP) — Portugal’s financial collapse appeared inevitable on Thursday, as markets took the government’s resignation as proof the debt-heavy country will lose its year-long battle to avoid a bailout and deliver another setback to Europe’s efforts to boost confidence in the euro.

Investors fearful about Portugal’s future pushed the interest rate on its 10-year bonds to a euro-era [...]