Category Archive: 5) Global Macro

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The changing space race | The Economist

2017-04-24

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The space race has changed since the Soviet Union sent Sputnik 1, the first man-made satellite, into space in 1957. The fight for domination is now between private companies rather than governments. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 The first man-made satellite Sputnik 1 was sent into space in 1957 by …

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Marx, Orwell and State-Cartel Socialism

2017-04-23

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2017-04-23

Denmark's Household Dept, 1996 - 2014
When "socialist" states have to impose finance-capital extremes that even exceed the financialization of nominally capitalist economies, it gives the lie to their claims of "socialism." OK, so our collective eyes start glazing over when we see Marx and Orwell in the subject line, but refill your beverage and stay with me on this. 

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Our Intellectual Bankruptcy: The “Religion” of Economics, UBI and Medicare For All

2017-04-23

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2017-04-23

Growth of Physicians and Administrators, 1970 - 2009
1. Mainstream neo-classical/ Keynesian economics. As economist Manfred Max-Neef notes in this interview, neo-classical/ Keynesian economics is no longer a discipline or a science--it is a religion. It demands a peculiar faith in nonsense: for example, the environment--Nature-- is merely a subset of the economy.

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RMR: Exclusive Interview with Charles Hugh Smith (04/18/2017)

2017-04-22

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“V” and CJ are joined by Charles H Smith to discuss the power and future of bitcoin. Charles also shares his thoughts on the current economic outlook and effective ways to prepare for various economic hardships. Link to Charles’s work at “Of Two Minds” http://www.oftwominds.com/ We are political scientists, editorial engineers, and radio show developers …

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New Patterns of Disturbance

2017-04-22

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2017-04-22

Industrial Production, 1991 - 2016
Having finally established that the economy of the “rising dollar” was appreciably worse than first estimated, we can turn our attention back toward figuring out what that means for the near future and beyond. According to the latest estimates for Industrial Production, growth has returned but in the same weird asymmetric sort of way that is actually common for the past decade. Year-over-year IP expanded by 1.5% in March 2017, the highest growth...

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Global Asset Allocation Update

2017-04-21

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2017-04-21

Moderate Allocation
There is no change to the risk budget this month. For the moderate risk investor, the allocation between risk assets and bonds is unchanged at 50/50. The performance of markets in the first quarter of the year was a bit schizophrenic. Stocks performed well which one might interpret as a reflection of improving economic growth prospects. Certainly President Trump and his proxies were quick to take credit but unfortunately for the new...

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France’s presidential election: A populist front

2017-04-21

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French voters go to the polls on Sunday for the first round of the country’s presidential election. We go to Marine Le Pen’s heartlands to examine why this far-right, anti-immigrant and Eurosceptic candidate has gained such favour Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 France is about to elect a new president …

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Now You Tell Us

2017-04-20

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2017-04-20

US Industrial Production, Jan 2006 - 2017
As we move further into 2017, economic statistics will be subject to their annual benchmark revisions. High frequency data such as any accounts published on or about a single month is estimated using incomplete data. It’s just the nature of the process. Over time, more comprehensive survey results as well as upgrades to statistical processes make it necessary for these kinds of revisions.

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The Left’s Descent to Fascism

2017-04-19

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2017-04-19

The Left is morally and fiscally bankrupt, devoid of coherent solutions, and corrupted by its embrace of the Corporatocracy. History often surprises us with unexpected ironies. For the past century, the slide to fascism could be found on the Right (conservative, populist, nationalist political parties).

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Central Banks Have Manipulated The Markets Which Will Ultimately Crash: Charles Hugh Smith

2017-04-19

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Today’s Guest: Charles Hugh Smith Websites: Of Two Minds http://www.oftwominds.com Books: Get a Job, Build a Real Career… Why Things Are Falling Apart and What We Can Do About It Most of artwork that are included with these videos have been created by X22 Report and they are used as a representation of the subject …

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The Expanded Retail Sales Gap

2017-04-18

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2017-04-18

US Retail Sales Trade, Jan 1993 - 2017
Retail sales growth in February 2017 was going to be low by virtue of its comparison to February 2016 and the extra day in that month. The Census Bureau’s autoregressive models are supposed to normalize just these kinds of calendar irregularities so that we can make something close to apples to apples comparisons. The seasonally-adjusted estimate for February, however, was calculated to be less than the one for January 2017, therefore suggesting...

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Assessing China’s Economic Risks

2017-04-18

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2017-04-18

China Industrial Production 2009-2017
First quarter GDP in China rose 6.9%, better than expected and above the government’s target (6.5%) for 2017. It stands to reason, however, that if Communist officials thought they could get 6.9% to last for the whole year they would have made it their target, especially since 6.5% would be less than the GDP growth rate for 2016 (6.7%). In only that one way is China’s GDP statistic meaningful.

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Why many World Heritage sites are at risk | The Economist

2017-04-18

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UNESCO’s World Heritage site designation aims to protect the world’s most valuable natural and cultural treasures. But often, that designation is not enough. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 In 2016, the archaeological site of Philippi in Greece was listed as a World Heritage Site by UNESCO. It was one of …

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The Palestinian Museum with no exhibits

2017-04-17

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Omar al-Qattan has dedicated 20 years to building a museum celebrating Palestinian cultural expression and heritage yet it still lies empty. Why does this museum matter so much? Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 Daily Watch: mind-stretching short films every day of the working week. For more from Economist Films visit: …

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Emerging Markets: Preview of the Week Ahead

2017-04-17

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2017-04-17

EM FX was mostly firmer last week, helped by Trump comments and softer US data. Whilst this seems positive for EM, the global backdrop remains uncertain. Some in EM (Russia, Turkey, and Korea) remain vulnerable to geopolitical concerns. In addition, idiosyncratic domestic political risks remain in play for other EM countries, such as Brazil, South Africa, and Turkey. We expect the investment climate for EM to remain challenging this week.

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What Was Chinese Trade in March?

2017-04-17

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2017-04-17

China Exports, Jan 2008 - 2017
As with all statistics, there are discrepancies that from time to time may obscure the meaning or validity of the particular estimate in question. For the vast majority of the time, any such uncertainties amount to very little. Overall, harmony among the major accounts reduces the signal noise from any one featuring a significant inconsistency.

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Emerging Markets: What has Changed

2017-04-17

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2017-04-17

Malaysia’s central bank said it will allow investors to fully hedge their currency exposure. Egypt declared a 3-month state of emergency after two deadly church attacks. South Africa’s parliamentary no confidence vote has been delayed. Argentina central bank surprised markets with a 150 bp hike to 26.25%. Brazil central bank accelerated the easing cycle with a 100 bp cut in the Selic rate.

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Charles Hugh Smith On The Commercial Real Estate Bubble Caused By Financial Repression

2017-04-16

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Click here for the full transcript with slides: http://financialrepressionauthority.com/2017/04/16/the-roundtable-insight-charles-hugh-smith-on-the-commercial-real-estate-bubble-caused-by-financial-repression/

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Earnings per Share: Is It Other Than Madness?

2017-04-16

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2017-04-16

S&P 500 Earnings Per Share 2014-2018
As earnings season begins for Q1 2017 reports, there isn’t much change in analysts’ estimates for S&P 500 companies for that quarter. The latest figures from S&P shows expected earnings (as reported) of $26.70 in Q1, as compared to $26.87 two weeks ago. That is down only $1 from October, which is actually pretty steady particularly when compared to Q4 2016 estimates that over the same time plummeted from $29.04 to $24.16. At $26.70, that would...

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Charles Hugh Smith–Wither The Suburb? #3536

2017-04-16

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While much has been written about the massive retail decline in America, Charles sheds interesting light upon another core cause of the retail apocalypse. Namely, Millennials, due to staggering student loan debt, have lowered expectations and are staying close to urban downtowns. They have smaller homes, less need for expensive furnishings and have often shed …

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