Category Archive: 5) Global Macro

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Charles Hugh Smith What’s Your Job Worth work, money and automation

2018-03-10

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Charles Hugh Smith What’s Your Job Worth work, money and automation

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Emerging Markets: What Changed

2018-03-10

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2018-03-10

Indonesia will freeze prices for electricity, gasoline, and diesel fuel until next year. US President Trump and North Korean President Kim Jong Un will hold a summit meeting this spring. National Bank of Poland has tilted even more dovish. Moody’s downgraded Turkey a notch to Ba2 with a stable outlook. Saudi Arabian Energy Minister hinted that the Aramco IPO could be delayed until 2019. Tanzania finally obtained a sovereign rating after years of...

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March 24, 2018 ! Charles Hugh Smith Has The Date Been Set For The Great Economic Collapse

2018-03-09

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Please Subscribe to my NEW Channel! Thank You. March 24, 2018 ! Charles Hugh Smith Has The Date Been Set For The Great Economic Collapse. Financial writer Charles Hugh Smith sees one very big problem coming at us, and that is a dramatic loss in buying power of the U.S. dollar, but it’s not just …

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How powerful is your passport? | The Economist

2018-03-09

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Passports can tell you a lot about a country. Colour can be a statement of national identity, state religion, or international co-operation. But not all passports are equal. Click here to subscribe to The Economist on YouTube: http://econ.st/2Gbhx2T Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://econ.st/2GeS3C1 Check …

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The Death of Buy and Hold: We’re All Traders Now

2018-03-09

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2018-03-09

Asset Prices vs GDP, 1992 - 2016
The percentage of household assets invested in stocks fell from almost 40% in 1969 to a mere 13% in 1982, after thirteen years of grinding losses. The conventional wisdom of financial advisors--to save money and invest it in stocks and bonds "for the long haul"--a "buy and hold" strategy that has functioned as the default setting of financial planning for the past 60 years--may well be disastrously wrong for the next decade.

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Jeffrey Snider: Since 2008 major turning points in Gold have been punctuated by Eurodollar anomalies

2018-03-09

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Erik Townsend and Patrick Ceresna welcome Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss gold swaps, how central banks engage in them and what has changed in gold swap markets today. They further investigate the gold bug’s conspiracy theory about “gold pukes” and what happened to gold in the 2008 crisis. They finally touch on …

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Is the pope head of the world’s most powerful government? | The Economist

2018-03-08

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Is the pope head of the world’s most powerful government? The pope represents over one billion people, his government has a permanent presence at the United Nations and he runs the oldest diplomatic service on earth. We asked the man behind the Vatican’s foreign policy to explain how the world’s smallest country could house the …

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China Going Boom

2018-03-08

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2018-03-08

China Gross Domestic Product, Apr 1993 - 2017
For a very long time, they tried it “our” way. It isn’t working out so well for them any longer, so in one sense you can’t blame them for seeking answers elsewhere. It was a good run while it lasted. The big problem is that what “it” was wasn’t ever our way. Not really. The Chinese for decades followed not a free market paradigm but an orthodox Economics one. This is no trivial difference, as the latter is far more easily accomplished in a place...

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Can conservation save our ocean? | The Economist

2018-03-08

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The ocean is facing its greatest ever challenge – overfishing, pollution and climate change are all threatening the health of a resource on which the whole world depends. Click here to subscribe to The Economist on YouTube: http://econ.st/2G3TH9d The crew of this ship is on a mission to try and save one of the most …

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Never Mind Volatility: Systemic Risk Is Rising

2018-03-07

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2018-03-07

S&P 500, 2008 - 2018
So who's holding the hot potato of systemic risk now? Everyone. One of the greatest con jobs of the past 9 years is the status quo's equivalence of risk and volatility: risk = volatility: so if volatility is low, then risk is low. Wrong: volatility once reflected specific short-term aspects of risk, but measures of volatility such as the VIX have been hijacked to generate the illusion that risk is low.

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Jeffrey Snider // Gold swaps and how do central banks engage in them

2018-03-05

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Erik Townsend welcomes Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss: — Gold swaps and how do central banks engage in them — What has changed in gold swaps, how are they done.

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China: February PMIs point to deceleration in industrial activity

2018-03-05

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2018-03-05

China’s official manufacturing Purchasing Manager Index (PMI) for February, compiled by the National Bureau of Statistics of China and the China Federation of Logistics and Purchasing, came in at 50.3, down from 51.3 in January and 51.6 in December 2017. This is the lowest reading of this gauge since October 2016. The Markit PMI (also known as the Caixin PMI), however, edged up slightly to 51.6 in February from 51.5 in the previous month

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Emerging Markets: Week Ahead Preview

2018-03-05

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2018-03-05

EM FX ended Friday on a mixed note, capping off a largely softer week.  Best performers last week for MYR and TWD while the worst were ZAR and ARS.  US stocks clawed back early losses and ended the week on a firmer note but we think further market turbulence is likely. 

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Data Distortions One Way Or Another

2018-03-04

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2018-03-04

China Manufacturing PMI, Feb 2007 - 2018
Back in October, we noted the likely coming of two important distortions in global economic data. The first was here at home in the form of Mother Nature. The other was over in China where Communist officials were gathering as they always do in their five-year intervals. That meant, potentially. In the US our economic data for a few months at least will be on shaky ground due to the lingering economic impacts of severe hurricanes.

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Durable and Capital Goods, Distortions Big And Small

2018-03-04

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2018-03-04

US Durable Goods Orders, Jan 2013 - 2018
New orders for durable goods, excluding transportation industries, rose 9.1% year-over-year (NSA) in January 2018. Shipments of the same were up 8.8%. These rates are in line with the acceleration that began in October 2017 coincident to the aftermath of hurricanes Harvey and Irma. In that way, they are somewhat misleading.

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Emerging Markets: What Changed

2018-03-03

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2018-03-03

China plans to change its constitution to eliminate term limits for President Xi Jinping. Bank Indonesia Deputy Governor Perry Warjiyo was nominated by President Widodo to be the next Governor. Bank of Korea Governor Lee was reappointed by President Moon for a second term. Hungary ruling party candidate lost the mayoral vote in Hodmezovasarhely. S&P upgraded Russia to BBB- with stable outlook.

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Our Fragmented Labor Markets Defy Outdated Conventions

2018-03-03

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2018-03-03

Annual Growth of Hourly Earnings, Jan 1965 - 2018
There are hundreds of extraordinarily diverse labor markets in the U.S. economy, and it takes a much more granulated approach to make any sense of this highly fragmented and dynamic marketplace. onventional economists/media pundits typically view the labor market as monolithic, i.e. as one unified market. The reality is the labor market is highly fragmented. Thus it's little wonder that conventional measures are giving mixed signals on employment,...

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Charles Hugh Smith On The Current Conditions In The Financial Markets

2018-03-03

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Click here for the full transcript: http://financialrepressionauthority.com/2018/03/02/the-roundtable-insight-charles-hugh-smith-on-the-current-conditions-in-the-financial-markets/

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Career Advice to 20-Somethings: Create Value as a Mobile Creative

2018-03-02

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2018-03-02

Federal Government; Consumer Credit, Student Loans; Asset, Level, 2005 - 2018
Finding work that fits who you are is rarely easy, especially if you don't fit into the mainstream, and usually it requires a lot of compromises, hard work and dead-ends. But that’s the process. Establishing a satisfying career is difficult in today's economy, doubly so for those who find life within hierarchical institutions (corporate America and government) unrewarding, and triply so for those burdened with student loan debt and college...

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Bi-Weekly Economic Review: One Down, Three To Go

2018-03-01

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2018-03-01

US Leading Index, 1984 - 2018
We pay particular attention to broad based indicators of growth. The Chicago Fed National Activity Index and the Conference Board’s Leading Economic Indicators are examples. We watch them because we are mostly interested in identifying inflection points in the broad economy and aren’t as interested in the details. Why? Because, while bear markets do happen outside of recession, it is rare and unpredictable.

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