The cost of U.S. oil at the moment is 80-82 dollars per barrel, while the same amount it cost, and in early November, and December, while the ruble was cheaper. Hence, a speculative factor can not be considered basic. Moreover CBR lowers rate, which makes buying rubles for dollars less attractive than a few months ago.

Nevertheless, except for speculation and the influx of hot money is absolutely natural causes. The fact that the restoration of the world economy has led to increased demand for Russia’s exports (oil, gas, metals), while imports (machinery and consumer goods) are imported into the country in much smaller quantities. Data released yesterday showed that exports in January amounted to 28,4 billion (+58.3% y / y), import – 11.6 billion (+10.4% y / y). It turns out that we export 2,5 times more than we import. Surplus is an impressive 16.8 billion dollars. This is a very large imbalance, and called it a weak domestic consumption. For comparison, China’s surplus in January amounted to 7.6 billion, but only 9% of imports. In the United States – the deficit, but there is an imbalance is much lower.

In statistics published yesterday, he has made 37,3 billion dollars, but imports at the same time was 180 billion in January is traditionally a weak month of imports, but less than we imported only in January 2009 (when the world trade and got completely), but before the crisis — in January 2006.

In other words, the ruble is growing at quite a natural surplus of trade / balance of payments. But a closer look reveals that this is caused by weak domestic demand with an increase in demand in foreign markets. This problem has two outcomes. The first – the demand we have recovered, and the company will purchase the equipment, consumers – spending money on cars and appliances, which would entail increased imports and reduce the huge surplus. Second – the victim in the crisis of confidence in future incomes will stimulate savings, while maintaining a high imbalance.

In this case, the CBR will be forced to further reduce the refinancing rate, trying to wake the consumer, and in the interbank market – pushes down the level of support basket, reducing the competitiveness of Russian goods.

It should be noted that employment levels have steadily risen since June 2009 (159 000) compared with the sharp decline, which was observed from October 2008 to June 2009 (-417 000).

The unemployment rate fell to 0.1% in February from 8,3% to 8,2%. Economists speculated that the figure did not change during the reporting period.

Some of the finer points to be debated include whether to develop a “formal” bailout approach to serve as the official protocol for a future budget crisis, or whether each incident should be handled independently. There is also a question as to what point should the EU intervene on the behalf of a member-country.

Source: Bloomberg

Further, the three month moving average registered another year-over-year increase indicating that February’s Industrial Production data (released next week) could show a similar annual gain.

As cited in the release, the PCI is closely correlated to the industrial production series but given the broad nature of the series it’s not surprising to see that it correlates well with other macro data.

Looking at the chart below (click for full-screen dynamic version) you can see that while a pretty reasonable correlation exists between the PCI and the S&P/Case-Shiller Composite-10 Home Price Index (CSI), the CSI reached its peak roughly a year before the PCI.

Could the latest easing of home prices foretell a general slowing trend in the economy?

41 – that’s the number of leading economists – including three Nobel Prize winners – who sent a letter to President Obama and Congress yesterday urging the swift passage of comprehensive health insurance reform to curb skyrocketing health care costs. [Source]
41 – is also the percentage of adults under the age of 65 who accumulated medical debt, had difficulty paying medical bills, or struggled with both during a recent one year period. [Source]

Laura Klitzka of Wisconsin is no stranger to the burden of crippling health care costs.  In September, we had a chance to visit with her at her home in Green Bay.  Here’s her story:

Click here to see the video.

With comprehensive health insurance reform, we can finally control rising health care costs and bring relief to Laura and her family and the many other American families struggling to keep up with their bills.  According to these leading economists, “the health care reforms passed by the House and Senate – with recent modifications proposed by President Obama – include serious measures that will slow the growth of health care spending.”  If reform fails, they add, “the chances of reducing growth of health care spending in the future will be greatly reduced.”

Today’s number, 41, is the latest in ‘Health Reform by the Numbers,’ our online campaign to raise awareness about why the time is now for health insurance reform.  You can follow the campaign on Whitehouse.gov and social networks like Facebook, Twitter, MySpace and LinkedIn.

If you’d like to help spread the word, share this blog post with your family, friends and online networks using the ‘Share/Bookmark’ feature below.

Previous Numbers:

625
8
1125

The CEO explained the poor performance:  “Broadwind was significantly impacted by lower fourth quarter purchases under our multi-year framework agreements. In addition, we believe lower revenues in our Logistics and Technical Services businesses were the result of lower wind turbine sales.  To offset the adverse earnings impact of sharply lower revenues, we initiated an aggressive expense management program in 2009. We believe our cost-control efforts will benefit the Company throughout 2010 and beyond.”

He went on to say they are beginning to see an increase in orders and better liquidity due to public offering early in the year.  The company sees a weak first half, but momentum heading into a strong year in 2011.

Shares of BWEN are holding steady in premarket trading.

:: >>> Click Here For Your FREE Broadwind Energy Analysis

The members of the CHC also acknowledged the progress that has been made over the past year, including on expanding health care for children through CHIP, on job creation and economic recovery, and highlighted the Hispanic community’s interest in immigration reform. After a thorough discussion of health care reform, the President and the CHC agreed to continue to work together to make health insurance more affordable and accessible, and to give the American people more control over their own health care.

The President was joined at the meeting by Secretary of Labor Hilda Solis, Senior Advisor Valerie Jarrett, Assistant to the President for Legislative Affairs Phil Schiliro, and White House Director of Intergovernmental Affairs Cecilia Muñoz.

After remarks by Chairwoman Lee discussing the impact of the economy in economically distressed communities and the need for additional assistance in these areas, Members presented their concerns and solutions for broadening the impact of the recovery effort.  

The meeting participants agreed there are a number of things that can be done to impact unemployment immediately and in the long term including summer youth employment, job training tied to apprenticeships, a review of Recovery Act contracting to ensure access to these opportunities is fair and equitable, and an appreciation for the jobs that can be generated through weatherization programs and the passage of health care reform.

The meeting concluded with Congressman Lewis calling for a victory for the American people with the passage of health care reform.