George S. Cole
George S. Cole Articles
Global Financial Turbulence Intensifies
The ides of August are putting the "new era" ideologues on Wall Street to their sternest test. Currency and stock market turmoil intensified last week In Asia and the infection is spreading to Latin...
FOMC Stands Pat; Teamster Victory; Credit Demand Surging
To no one's surprise, the Federal Open Market Committee (FOMC) on Tuesday elected to leave the pivotal fed fund rate unchanged at 5.5%.
Reflecting a strong export performance and...
Domestic Economic News Remains Favorable; UPS Strike Continues
Reflecting the strong dollar and the continuing weakness of labor in a deregulated and globalized economic environment dominated by the corporate right, inflation pressures...
Evidence of Slower Growth, FOMC Stands Pat
Evidence that the economy has slowed from its blistering first-quarter growth pace continues to mount. Payroll employment climbed a modest 217,000 during June, the unemployment rate rose from 4.8...
Mixed Economic Signals
Reflecting a sharp drop in the transportation sector, durable goods orders dipped 0.6% in May -- weaker than expected. Manufacturing activity slowed in June for the second consecutive month, according to a survey by...
Economy Slows, Wholesale Prices Fall
Retail sales eased 0.1% in May -- the third consecutive decline. This is the first time retail sales have dropped for three consecutive months since the fall of 1981 -- shortly before a steep recession...
Economy Still Robust
The economy remains strong. First quarter real GDP growth was upward revised to 5.8% last week, April durable goods orders came in above expectations, and consumer confidence hit a 28-year high.
Dow Industrials Rally But Other indexes Falter
Helped by a big jump in IBM because of better than expected earnings, the Dow Industrials jumped 173 points on Tuesday. It briefly exceeded 6900 intra day Wednesday before pulling back. By...
