Monthly Archive: June 2022

Traders with Swiss links continue to buy and sell Russian oil

2022-06-28

by

2022-06-28

Around 20 traders have reportedly increased their shipments of Russian oil since the war in Ukraine broke out. A third of these players have strong connections to Geneva, according to the newspaper Le Matin Dimanche.

Read More »

The Age of Discord

2022-06-28

by

2022-06-28

It's very difficult to find common ground that supports cooperation in the disintegrative stage of scarcities, rising prices, catastrophically centralized power and social discord. Today's topic echoes Peter Turchin's 2016 book, Ages of Discord, which I have often referenced in blog posts.

Read More »

Consolidation in FX Featured

2022-06-27

by

2022-06-27

Overview: The strong equity market rally seen at the end of last week is carrying into today’s activity. Most of the large markets in Asia Pacific rose by at least 1%.

Read More »

Die Zentralbanken sind schachmatt

2022-06-27

by

2022-06-27

Seit Jahrzehnten senken die Notenbanken ihre Leitzinsen bei jedem Anzeichen einer wirtschaftlichen Korrektur. Sie versuchen damit, das Problem der sich von den Konsumentenbedürfnissen entfernenden Produktionsstruktur («Zombifizierung») mit billigem Geld zuzudecken.

Read More »

Markets Promote Real Equality Much More Than Progressive (and Conservative) Critics Claim

2022-06-27

by

2022-06-27

The economy consists of a huge chain of the division of labor that is interlocked to such a limit where there exists hardly any single individual or firm that produces the whole of the product alone. This is famously illustrated in the essay “I, Pencil,” by Leonard Read.

Read More »

Unit of Account and Current Valuations by Paul Belanger

2022-06-27

by

2022-06-27

We’re pleased to republish this guest post by Paul Belanger. Paul is the author and owner of the website, Evidence Based Wealth, and the YouTube channel belangp, where he’s published over 10 years of research and analysis of gold. He’s also the author of Evidence Based Wealth: How to Engineer Your Early Retirement, available for purchase at Amazon.com.

Read More »

Nasty Number Five, Not Hawk Hiking CBs

2022-06-27

by

2022-06-27

It’s not recession fears, those are in the past. For much if not most (vast majority) of mainstream pundits and newsmedia alike, unlike regular folks this is all news to them (the irony, huh?) Economists and central bankers everywhere had said last year was a boom, a true inflationary inferno raging worldwide.

Read More »

SWISS plans more flight cancellations into autumn

2022-06-27

by

2022-06-27

Additional cancellations of SWISS flights are “unavoidable” because of staff shortages, a company spokesperson told the Keystone-SDA news agency on Sunday.

Read More »

Higher federal tax deductions for health insurance announced

2022-06-27

by

2022-06-27

The cost of Swiss health insurance has risen sharply over the years. However, the amount that can be deducted from income to calculate federal taxes has remained comparatively low. This week, Switzerland’s parliament voted in favour of closing the gap between the standardised health insurance tax deductions and what people actually pay, reported RTS.

Read More »

The Dollar: Don’t Get too Far Ahead of the Story

2022-06-26

by

2022-06-26

The most important development in foreign exchange probably took place in the interest rate market last week. A series of disappointing US economic data and the Fed's "unconditional" commitment to rein in inflation have heightened concerns that economic weakness will limit the Fed's ability to hike rates. 

Read More »

The Everything Data’s (Z1) Verdict: Not Inflation, Only More Of The Same

2022-06-26

by

2022-06-26

The only thing that changed was the CPI. What distinguishes 2021-22 from the prior post-crisis period 2007-20 is merely the performance of whatever consumer price index. This latter has been called inflation, yet the data conclusively support the market verdict pricing how it never was.What data?

Read More »

Wholesale Prices Rise More than 10 Percent, Pointing to Continued Price Hikes

2022-06-26

by

2022-06-26

Year-over-year PPI growth came in at over 10 percent for the sixth month in a row. This will put more pressure on the Fed to "do something." 

Read More »

The Return of the Anguish of Central Banking: Why the Fed and Inflation Go Hand in Hand

2022-06-26

by

2022-06-26

The recent outbreak of price inflation with the jump to an annual rate of 8.6 percent in May 2022 came as a surprise to the US central bank (the Federal Reserve). Having ignored the warnings of the Austrian school economists, the policy makers were paralyzed in the face of a phenomenon they deemed impossible to happen. None of their forecasting models had triggered an inflation alert.

Read More »

Business cycle signals: SNB regional network

2022-06-26

by

2022-06-26

Report submitted to the Governing Board of the Swiss National Bank for its quarterly monetary policy assessment. The appraisals presented here are based on discussions between the SNB’s delegates for regional economic relations and company managers throughout Switzerland.

Read More »

Gesunkene Mining Einnahmen lassen Ethereum Hashrate abstürzen

2022-06-25

by

2022-06-25

Die Mining Hashrate ist im Monatsvergleich um ganze 10 Prozent gesunken. Ein Problem für das ETH-Projekt, welches weiterhin mit der Scalability und den damit verbundenen Gebühren zu kämpfen hat. Kommt nun auch noch ein Exodus der Miner hinzu?

Read More »

The End Game Approaches

2022-06-25

by

2022-06-25

The pendulum of market sentiment swings dramatically.  It has swung from nearly everyone and their sister complaining that the Federal Reserve was lagging behind the surge in prices to fear of a recession.

Read More »

Our No-Win "Kobayashi Maru" Economy

2022-06-25

by

2022-06-25

It's time to reprogram the conditions of the economy to serve the many rather than the few.Star Trek's Kobayashi Maru training exercise tests officer candidates' response to a no-win scenario:any attempt to rescue the crippled ship's crew results in the destruction of the candidate's ship, while standing by and taking no action results in the loss of the Kobayashi Maru's crew.

Read More »

Back to the Future: Progressives Imagine the Good Old Days of Price Controls

2022-06-25

by

2022-06-25

When the Bourbon dynasty was restored to power in France in the early 1800s after Napoleon’s abdication, the French statesman Charles-Maurice de Talleyrand famously said of that family: "They had learned nothing and forgotten nothing." In modern economic parlance, one can say the same thing about progressives, who once again are demanding price controls to "fight inflation."

Read More »

Switzerland details revenue split for global corporate tax rate

2022-06-25

by

2022-06-25

Switzerland will implement from 2024 the minimum tax rate for large multinational firms under a global tax deal. The federal government will get a quarter and regional and local authorities three-quarters of revenue, it said on Thursday, outlining how the deal would be implemented.

Read More »

US Household Saving Rate Vanishes, Credit Card Debt Soars

2022-06-25

by

2022-06-25

The United States consumption figure seems robust. An 0.9 percent rise in personal spending in April looks good on paper, especially considering the challenges that the economy faces. This apparently strong figure is supporting an average consensus estimate for the second-quarter gross domestic product (GDP) of 3 percent, according to Blue Chip Financial Forecasts.

Read More »