by Bill McBride on 12/15/2010 11:59:00 PM
Wednesday, December 15, 2010
The slow motion train wreck continues in Europe.
From the NY Times: Europe Staggers as Critical Summit Looms
Europe’s smoldering financial crisis flared up on Wednesday, with riots over austerity spending in Greece, new signs of troubles in Spain and little indication that European leaders were moving any closer to agreement on a systemic approach to long-term stability.And from the Financial Times: German MPs clash on future of eurozone
The day’s events emphasized the complex social, political and economic challenges facing government leaders at a European Union summit meeting on Thursday and Friday in Brussels.
The question is when the crisis will flare up again - and where (Spain?)
• Mortgage Applications decline, Mortgage rates rise sharply
• The Empire State Manufacturing Survey showed expansion
• Industrial Production, Capacity Utilization increased in November
• NAHB Builder Confidence Flat in December
• Tax Legislation Passes in Senate 81 to 19
• Inflation: Core CPI, Median CPI, 16% trimmed-mean CPI remain below 1% YoY
• 8:30 AM: The initial weekly unemployment claims report will be released.
• 8:30 AM: Housing Starts for November.
Best to all
Posted by Bill McBride on 12/15/2010 11:59:00 PM