Tax cuts and ‘animal spirits’ mean higher US growth in 2018
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Author: Thomas Costerg
Categories: Pictet Macro Analysis, Swiss and European Macro
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December’s US tax cuts – which saw corporate taxation reduced particularly sharply – are being echoed in signs that ‘animal spirits’ are finally kicking in. Both set the stage, in our view, for higher US growth, in large part driven by greater investment. We therefore upgrade our 2018 US growth forecast from 2.0% to 3.0%. We forecast that real non-residential investment growth will accelerate to 7.0% in 2018, up from an estimated 4.6% in 2017. We expect 2019 GD P growth to come in at 2.4%, up from our previous forecast of 1.8%.
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A quarter of Swiss workers stressed and exhausted, according to new research
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Author: Investec
Categories: Swiss Markets and News
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Around a quarter of Swiss workers are stressed and exhausted, according to new research. A three-year study by the University of Bern and Zurich University of Applied Sciences, which covers the period from 2014 to 2016, estimates that this stress and exhaustion cost Swiss companies between CHF 5 and CHF 5.8 billion a year.
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Swiss court condemns €8 per hour wages of Polish workers
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Author: Swissinfo
Categories: Swiss Markets and News
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A labour court in Geneva has ruled against a Polish subcontractor that underpaid its seconded employees working on a Geneva building site. The workers were earning €8 an hour, about a third of what the work warranted, the court said. The case has been ongoing for almost five years and was led by the UNIA trade union on behalf of the workers.
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Globally Synchronized What?
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Author: Jeffrey P. Snider
Categories: The United States
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In one of those rare turns, the term “globally synchronized growth” actually means what the words do. It is economic growth that for the first time in ten years has all the major economies of the world participating in it. It’s the kind of big idea that seems like a big thing we all should pay attention to. In The New York Times this weekend, we learn.
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The Pie Is Shrinking for the 99%
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Author: Charles Hugh Smith
Categories: The United States
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The ensuing social disunity and disruption will be of the sort many alive today have never seen. Social movements arise to solve problems of inequality, injustice, exploitation and oppression. In other words, they are solutions to society-wide problems plaguing the many but not the few (i.e. the elites at the top of the wealth-power pyramid).
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The FOMC Meeting Strategy: Why It May Be Particularly Promising Right Now
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Author: Dimitri Speck
Categories: Debt and the Fallacies of Paper Money
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As readers know, investment and trading decisions can be optimized with the help of statistics. One way of doing so is offered by the FOMC meeting strategy. A study published by the Federal Reserve Bank of New York in 2011 examined the effect of FOMC meetings on stock prices. The study concluded that these meetings have a substantial impact on stock prices – and contrary to what most investors would probably tend to expect, before rather than after the committee announces its monetary policy decision.
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