Economist James Hamilton was pretty offended by the rough treatment of Federal Reserve Chairman Ben Bernanke last week at the hands of some U.S. politicians. But when he put up a defense of the Fed chief on his blog, he got an earful from readers who were critical of the U.S. central bank and suspicious over its role in the financial crisis and last year’s bank bailouts.
from Raw Japan:
It's official: Japan's economy shrivelled at a record pace in the first quarter.
Needless to say the 4.0 percent contraction in GDP (an annual rate of 15.2 percent, if you speak American) from January to March was not pretty -- especially when you see that the pain has spread from Japan's big autos and tech factories to the broader economy.
OK, so a nearly 10 percent drop in U.S. sales is nothing to crow about, but it sure beats a 19.6 percent fall. Harley-Davidson’s stock is jumping today — and has more than doubled since March — because of stronger-than-expected earnings and a much smaller sales decline in its biggest market.