The trade deficit widened to a record in September, as expected. But it wasn't the oil story we were all looking for. Instead, it boils down to Boeing and Airbus, with the European firm holding the cards this time around.
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Any attempt to bypass the markets, remove market incentives and replace them with government incentives sets us on the wrong path. After Nixon and Carter, I didn't think we'd make that mistake again.Chris Low
They (China) ship a lot of goods to Wal-Mart. Wal-Mart pays for these goods in dollars and manufacturers in China trade these for China's local currency and eventually the dollars work their way into China's central bank.
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Ex-transport is only barely up, and the decline last month was only marginally revised, so it's a bit disappointing, because it marks essentially the fourth month with no orders growth at all.
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There's a sense of urgency in construction. If builders have approval for a project, they're going to try to move ahead as quickly as possible.
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What's striking is how much it looks like the statement from the last three meetings.
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