Thoughts From Joe - February 8, 2013February 08, 2013 Posted by: Joe Morgan
The Federal Communications Commission will include free telephone and internet service across the U.S. triggering fierce backlash from the wireless industry. The wireless industry is a $178 billion business. Does anyone really believe the government could do this for free?
Petroleum exports reached an all-time high, revealing newfound production strength that will likely convert the fourth quarter's GDP estimate from negative to positive. While it is easy to lie with statistics, it is also easy to use them honestly and still end up with the wrong answer. Because of this, it is very dangerous to boil down words like recession, recovery, and growth to a single measure as we usually do with GDP.
A rising currency makes exports less attractive and exporting goods and services is a desperate need for the eurozone these days. Balancing these concerns, the value of a currency is often a good measure of the world's confidence in that region. Last year Draghi stated the ECB would "do whatever it takes" to keep the euro together, which drove the currency off its lows from $1.22 to a high of $1.36. Now he is talking the euro down to ensure exports can keep pace....Read More