Key Events This Holiday-Shortened Week: PCE, Durables, Consumer Confidence And Fed Speakers

In memory of Roger Garrison, Bob walks through Garrison's famous capital-based macroeconomics diagrams, showing how they translate the Mises-Hayek theory of the boom-bust cycle into the language of modern macroeconomics.

Nine days after Iran warned the West, Israel in particular, that any further attacks on Beirut would result in Iran retaliating against Israel, Israel hit the Beirut suburb of Dahiyeh. The attack on Sunday afternoon sent plumes of smoke rising over the suburb, with strikes targeting two apartments in two buildings. Israeli Prime Minister Benjamin […]

India's Trade Deficit Surges As Energy Import Prices Soar India's trade deficit soared in April by more than analysts expected, as the surge in oil and gas prices hiked the Indian energy import bill. The trade deficit jumped by $8bn from $20.6bn in March to $28.38bn last month, higher than the $26 billion estimate, on a broad-based increase in imports. At the same time, total exports grew by 13.8% in April from a year earlier to hit $43.56 billion. Oil imports sequentially rose by around 60% MoM likely driven by higher volumes in April (vs....