Economist magazine takes another look at international trade and decoupling.

 

"The four biggest emerging economies, which accounted for two-fifths of global GDP growth last year, are the least dependent on the United States: exports to America account for just 8% of China’s GDP, 4% of India’s, 3% of Brazil’s and 1% of Russia’s. Over 95% of China’s growth of 11.2% in the year to the fourth quarter came from domestic demand'.

 

A nice interivew of President of Dallas Fed, Richard Fisher. Unlike others, the reporter asked some really good and sensible questions.

Feb. unemployment data further confirms that we are in a recession.

From the BLS: Employment Situation Summary

Nonfarm payroll employment edged down in February (-63,000), and the unemployment rate was essentially unchanged at 4.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment fell in manufacturing, construction, and retail trade. Job growth continued in health care and in food services.

(click to enlarge, courtesy CR)