Post 212

A snapshot of what’s going on in the world’s economy.  Financial Ructions and book reviews can be a bit more technical so feel free to skip them.  See disclaimer at the end of this note.

Summary

  • A lot of company reports:
  • More price over volume.
  • Makeup is still growing strongly.
  • Discretionary items very weak.
  • Companies that ship stuff are struggling.
  • More companies are announcing layoffs.
  • There are signs that people are increasingly struggling to service their debt piles.
  • Manufacturing is very slow in Germany.
  • Less than half of restaurants in Canada actually turn a profit.
  • The mortgage payments by a growing number of Canadians are not enough to even pay the interest expense, never mind the principal