Category Archives: Uncategorized

Labour sweeps British local elections.London vote counted tomorrow.

Posted on May 4, 2012 by haroldchorneyeconomist

So far at 3 am Greenwich time the Labour party in the U.K. has plenty to cheer about. With 85 0f 181 councils reporting their results Labour has won 44 of them a gain so far of 19, the Conservatives … Continue reading →

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Hollande debates Sarkozy:Informative, intense and entertaining.

Posted on May 3, 2012 by haroldchorneyeconomist

Yesterday I spent close to three hours watching the debate between the two finalists in the campaign for the French presidency, Nicholas Sarkozy the current President and François Hollande the candidate of the Parti socialiste. I have to say that … Continue reading →

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Euro area unemployment rises to 10.9 %

Posted on May 3, 2012 by haroldchorneyeconomist

According to Eurostat unemployment has increased in the Euro area to 10.9 %. This is a clear sign that austerity policies do not result in lower unemployment. Below I reproduce courtesy of Eurostat part of their press release. March 2012 … Continue reading →

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Canadian GDP falls 0.2 % in February:slowdown underway yet Government promotes austerity

Posted on May 1, 2012 by haroldchorneyeconomist

The Canadian government is busy cutting programs and jobs and laying off some 18,000 civil servants. No surprise the economy is shrinking in response to this foolish ideologically inspired austerity. The central bank has made noises about raising interest rates. … Continue reading →

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ILO Report Critical of Austerity Warns of Prolonged high unemployment

Posted on April 30, 2012 by haroldchorneyeconomist

A new report from the ILO’s International Institute for Labour studies entitled Better Jobs For A Better Economy edited by Raymon Torres and researched and written by a team of economists and labour market analysts including some 13 individuals  has … Continue reading →

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Some European debt data

Posted on April 29, 2012 by haroldchorneyeconomist

Country           GDP billions euros   public debt              Debt to GDP     Unemployment% (4th quarter 2011) Germany         2,567               … Continue reading →

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Spanish unemployment 24.4 %;U.S. GDP up 2.2%:austerity not working.

Posted on April 27, 2012 by haroldchorneyeconomist

This mornings news is anything but positive. U.S. growth is still positive but it would have been 0.6 % greater had  government cuts not subtracted from the total, leaving U.S. growth in the first quarter still positive but only modestly … Continue reading →

Posted in austerity, deficit hysteria, deficits and debt, European unemployment, Greek sovereign debt crisis, Spain, Uncategorized, unemployment | Leave a comment

French unemployment rises for 12th consecutive month:austerity a bad bet

Posted on April 26, 2012 by haroldchorneyeconomist

Again no surprise but painful to report nonethess unemployment in France continues to rise for the 12th consecutive month as reported by INSEE. In metropolitan France it is now 9.7 % with the overall national rate even higher at just … Continue reading →

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UK negative growth no surprise: austerity leads to double dip recession.

Posted on April 26, 2012 by haroldchorneyeconomist

Britain has suffered a double dip recession according to the latest GDP data for the first quarter of 2012. The economy contracted in this quarter 0.2% after having contracted 0.3 % in the fourth quarter of 2011. This is no … Continue reading →

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Alberta polls dead wrong but French poll shows Hollande likely to defeat Sarkozy in second round 54-46 % %

Posted on April 24, 2012 by haroldchorneyeconomist

Election polls or sondages as they are called in Québec are usually devoured by the media hungry for headlines. Of course, the methodology of polls, whether they were taken from a properly weighted and conducted random sample from the population … Continue reading →

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