Category Archive: 5) Global Macro

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Emerging Markets: What has Changed

2016-12-24

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2016-12-24

China President Xi raised the possibility of sub-6.5% growth. Fitch moved the outlook on Indonesia’s BBB- rating from stable to positive. The Philippine central bank raised its 2017 inflation forecasts for 2017 and 2018.

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The Disaster of Inflation-For the Bottom 95 percent

2016-12-24

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2016-12-24

Central banks are obsessed with boosting inflation, but the "why inflation is good" arguments make no sense for households being ravaged by inflation. The basic argument is that inflation makes it easier for debtors to service their debts.

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Modi’s Fantastic Promises

2016-12-24

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2016-12-24

New Notes disintegrating
This article continues right where Part VI left off (for earlier updates on the demonetization saga see Part-I, Part-II, Part-III, Part-IV, and Part-V). There is still huge support for Modi even among the poor. A big carrot is dangled before them, which makes many stay numb to their current suffering. During his election campaign in 2014, Modi promised to deposit more than Rs 1.5 million (~$22,000) in each poor person’s account once the...

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We Know How This Ends – Part 2

2016-12-23

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2016-12-23

History Most Definitely Rhymes
In March 1969, while Buba was busy in the quicksand of its swaps and forward dollar interventions, Netherlands Bank (the Dutch central bank) had instructed commercial banks in Holland to pull back funds from the eurodollar market in order to bring up their liquidity positions which had dwindled dangerously during this increasing currency chaos.

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Ex-Muslims share their experiences | The Economist

2016-12-23

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The decision to turn your back on your religion can have huge ramifications. Two women who were shunned by their families and community share a rarely seen perspective on faith—and on losing it. 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 …

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Why the Massive Expansion of “Money” Hasn’t Trickled Down to “The Rest of Us”

2016-12-22

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2016-12-22

MZM Money Stock
There are numerous debates about money: what it is, how we measure it, and so on. In recognition of these debates, I'm referring to "money" in quotes to designate that I'm using the Federal Reserve's measure of money stock (MZM). Nowadays, "money" is often credit. We buy stuff not with currency/ cash, but with credit extended by lenders.

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Meet blind photographer Mickel Smithen | The Economist

2016-12-22

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Mickel Smithen has been legally blind since he was five years old—but that hasn’t stopped him from becoming a published photographer. Discover how he uses all of his senses to help capture an image. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 Mickel Smithen lost most of his sight when he was 5 …

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Air pollution in Oxford Street highest in Europe | The Economist

2016-12-21

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In some cities, it’s more dangerous to breathe than smoke cigarettes. Find out more breathtaking facts and figures on the dangers of global air pollution. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 Over 50% of the world’s population now live in cities where they face daily issues with air quality. Air pollution …

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What Have the “Experts” Gotten Right? In the Real Economy, They’re 0 for 5

2016-12-20

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2016-12-20

Personal Consumption Expenditures; Services; Housing; Rental of tenant-occupied nonfarm housing
If the "experts" were assessed on results, they'd all be fired. The mainstream media continually hypes the authority of "experts," i.e. people with a stack of credentials from top institutions. But does the mainstream media ever check on whether the "experts" got anything right? Let's compare the "experts" (conventional PhD economists) diagnoses and fixes with the results of their policies.

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Will 2017 see the first successful human head transplant? | The Economist

2016-12-20

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Italian neurosurgeon, Dr Sergio Canavero, believes he can successfully perform the world’s first human head transplant in 2017. Within the medical establishment there is concern and scepticism—but either way the operation is set to be one of the big talking points of the year ahead. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 …

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Brutal vision: the story of Economist Plaza | The Economist

2016-12-19

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In 2017 The Economist will move from its home of 52 years to new offices in central London. This is the fascinating story of the iconic building we will leave behind and the two modernist architects who designed it. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 The city is about to embark …

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Are You a Deplorable? Take This Quiz to Find Out

2016-12-18

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2016-12-18

Media Concentration
Regardless of your ethnicity, class or religion, if you perceive the institutions that govern American life as corrupted, riddled with favoritism and spin or as broken, you're a Deplorable. Are you a Deplorable? The answer might surprise you. Take this short quiz to find out.

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Emerging Markets: Week Ahead Preview

2016-12-18

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2016-12-18

EM ended the weak on a soft note, as the hawkish Fed decision continued to have reverberations for global markets. Worst performers in EM last week were CLP (-3.3%), ZAR (-2%), and KRW (-1.5%). With little fundamental news expected this week, markets may take a more consolidative tone, especially with the holidays approaching. However, we continue to believe that the global backdrop for EM remains negative.

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What is Rethinking the Dollar? Charles Hugh Smith (Oftwominds.com)

2016-12-18

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Find out what Charles Hugh Smith thinks about the idea of Rethinking the Dollar. Picture: $50 Federal Reserve Note 2004 Watch the full interview with Charles Hugh Smith below: 1. RTD Ep:20 “Currency Created Out Of Thin Air” – Charles Hugh Smith (Why Things Are Falling Apart) – https://youtu.be/JkCaYBGkWak 2. RTD Ep:46 “The FED Is …

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Is the Deep State at War–With Itself?

2016-12-18

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2016-12-18

Deep State Network
The recent pronouncement by the C.I.A. that Russian hackers intervened in the U.S. presidential election doesn't pass the sniff test--on multiple levels. Let's consider the story on the most basic levels.

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Why the Democrats Can’t Let Go of Losing

2016-12-17

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2016-12-17

Democratic party
The Democratic Party has become everything it once was against. The Democratic Party has become everything that it once loathed: elitist, globalist, interventionist, self-serving, warmongering and overflowing with hubris.

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Emerging Markets: What has Changed?

2016-12-16

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2016-12-16

World Map
China will raise the sales tax on small cars to 7.5% in 2017. New methodology used by Turkstat to measure Turkish GDP has led to significant upward revisions. Turkish authorities are growing more concerned about the weak lira. Fitch moved the outlook on Chile. Chile’s central bank shifted to an expansionary policy bias. Colombia selected Juan Jose Echavarria to be the new central bank governor. Fitch revised the outlook on Mexico’s BBB+ rating from...

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Recovering America’s History of Progressive Populism

2016-12-16

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2016-12-16

Populism
The elites' toadies, lackeys, shills, sycophants, water-carriers and apologists are desperately hyping the context-free, historically ignorant narrative that "populism leads to autocracy" to protect the existing autocracy of the elites.

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Rebuilding the Parthenon will be a top ten moment of 2017

2016-12-16

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In 2017, the ancient Greek Parthenon is going to be rebuilt in Germany. Argentine artist Marta Minujin will be constructing it of some 100,000 forbidden books from around the world. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 In 2017, an audacious piece of performance art will capture the zeitgeist by invoking one …

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Rich Middle Class, Poor Middle Class

S&P / Case-Shiller
This great generational injustice is the direct consequence of central banks lowering interest rates to zero and inflating asset bubbles. How can middle class households have similar incomes but some are asset-rich and others are asset-poor?

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