Category Archive: 2) Swiss and European Macro

Main Author George Dorgan
George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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Tourism accommodation statistics in July 2016: Slight decline in overnight stays in July

2016-09-05

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2016-09-05

Switzerland Tourism by Country, July 2015 - July 2016
The Swiss hotel industry registered 4.1 million overnight stays in July 2016, which corresponds to a decrease of 0.4% (-18,000 overnight stays) compared with July 2015. Foreign visitors generated 2.3 million overnight stays, representing a decline of 2.0% (-46,000). Domestic visitors registered 1.8 million overnight stays, i.e. an increase of 1.6% (+29,000). These are provisional results from the Federal Statistical Office (FSO).

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Europe Debates The Burkini: “We Will Colonize You With Your Democratic Laws”

2016-09-04

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2016-09-04

"We will colonize you with your democratic laws." — Yusuf al-Qaradawi, Egyptian Islamic cleric and chairman of the International Union of Muslim Scholars. "Beaches, like any public space, must be protected from religious claims. The burkini is an anti-social political project aimed in particular at subjugating women.

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“Market Economy – Reinvent or Reboot?” with Yanis Varoufakis, Clemens Fuest – Alpbach Forum 2016

2016-09-03

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Yanis Varoufakis, professor of Economics, former finance minister of Greece and cofounder of Diem25 debates Clemens Fuest, president of IFO (Institut für Wirtschaftsforschung). Discussion includes the political – economic problems of modern Europe, the Greek crisis and its handling by the EU, thoughts on the market economy and universal basic income. Discussion took place in …

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Swiss Retail Sales -2.6 percent nominal (YoY) and -2.2 percent real (YoY)

2016-09-01

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2016-09-01

Turnover in the retail sector fell by 2.6% in nominal terms in July 2016 compared with the previous year. This decrease has been ongoing since January 2015. Seasonally adjusted, nominal turnover rose by 0.4% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO).

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KOF Economic Barometer August: A Dip below the 100 Points Level

2016-09-01

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2016-09-01

The KOF Economic Barometer, with a current reading of 99.8, showed a drop of 3.7 points in August 2016 (from revised 103.5 in July). The Barometer fell just below its long-term average for the first time since December 2015. The outlook for the Swiss economy is less upbeat than one month ago, returning to its long-term average path.

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Switzerland UBS Consumption Indicator July: Car buyers turn on cruise control

2016-09-01

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2016-09-01

In July, the UBS consumption indicator rose to 1.32 points from 1.21. A slight downward adjustment of the June figure and above-average car sales generated the increase. However, the disappointing June figures for tourism and sluggish consumer sentiment slightly curbed this upward trend.

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Spain’s Political Deadlock Likely Leads to Third Election

2016-08-31

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2016-08-31

Rajoy is hoping to form a minority government this week. It seems unlikely to succeed, which could lead to an election on Christmas. Regional elections and corruption trials may change Spain's political dynamics.

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Yanis Varoufakis | Buch: “Das Euro Paradox”

2016-08-30

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Yanis Varoufakis und sein neues Buch: “Das Euro Paradox” ttt 28.08.2016 Quelle: Das Erste Brillanter Theoretiker, radikaler Träumer, berechnender Zocker, Wirtschaftsmathematiker, Motoradfahrer: In seinem neuen Buch tritt Griechenlands Ex-Finanzminister Yanis Varoufakis für eine Rettung Europas ein. ABO NICHT VERGESSEN weitere interessante Links: Konsumterror vs Konsumverzicht Konsumterror vs Konsumverzicht Nico Paech & Co...

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Swiss national accounts 2015: Slow GDP growth in 2015

2016-08-28

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2016-08-28

In 2015 the Swiss economy registered a growth in gross domestic product (GDP) of 0.8% at the previous year's prices (+2.0% in 2014). Taking a slight decrease in the general price level into account, GDP at current prices grew by 0.3% (2014: +1.4%). This modest increase is in keeping with a difficult monetary environment. The gross national income (GNI) at current prices registered an increase of 1.6% following an improved balance of income with...

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Swiss Industrial Production Q2: Minus 1.2 percent YoY, Construction: Minus 4.1 percent YoY

2016-08-27

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2016-08-27

Industrial production in the secondary sector declined 1.6% in 2nd quarter 2016 in comparison with the same quarter a year earlier. Turnover fell by 2.6%.

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Swiss Exports + 7.9 percent YoY, Imports +11.8 percent. Trade Surplus +2.9 bn CHF, Exporters Increase Prices

2016-08-23

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2016-08-23

We do not like Purchasing Power or Real Effective Exchange Rate (REER). For us, the trade balance decides if a currency is overvalued. Only the trade balance can express productivity increases, while REER assumes constant productivity in comparison to neighbours. In July 2016, Swiss Exports were up 7.9% YoY (in real terms: + 2.4%) and imports 11.8% YoY (in real terms: + 8.2%). Exporters could even raise prices, as we see in the difference...

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Swiss Labour Force Survey in 2nd quarter 2016: Number of employed persons + 1.6%; unemployment rate (ILO) 4.3%

2016-08-22

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2016-08-22

The number of employed persons in Switzerland rose by 1.6% between the 2nd quarter 2015 and the 2nd quarter 2016. During the same period, the unemployment rate as defined by the International Labour Organisation (ILO) increased slightly from 4.2% to 4.3%. The EU's unemployment rate decreased from 9.5% to 8.6%. These are some of the survey results from the Federal Statistical Office (FSO).

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DiEM25 Aegina. Meeting of 22nd July 2016 Yanis Varoufakis

2016-08-18

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Varoufakis and Chomsky on the EU democracy deficit

2016-08-16

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Yanis Varoufakis, the former Greek Finance Minister and Noam Chomsky, political philosopher, discuss the lack of democracy in the European Union. See the full video at: bit.ly/2bahbfE Find out about Varoufakis’ campaign to restore democracy to Europe at: https://diem25.org .

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Swiss Producer and Import Price Index, July 2016: +0.1 percent MoM, -0.8 percent YoY

2016-08-15

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2016-08-15

The Producer and Import Price Index fell in July 2016 by 0.1% compared with the previous month, reaching 99.8 points (base December 2015 = 100). This slight decline is due in particular to lower prices for petroleum products and watches. Compared with July 2015, the price level of the whole range of domestic and imported products fell by 0.8%. These are the findings of the Federal Statistical Office (FSO).

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GAIM interview Yanis Varoufakis about democracy and investing

2016-08-12

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Our friends at GAIM caught up with @yanisvaroufakis after the show to ask whether democracy and alternative investment could work together. Watch the interview here and read the full transcript at GAIM Live http://gaimlive.com/yanis-varoufakis-nations-need-get-together-reboot-world-economy/

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Swiss Nominal Wages to Rise by 0.8 Percent

2016-08-11

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2016-08-11

The unions are demanding higher salaries for next year. However, gains are realistic only in individual sectors. In addition, can be expected in Switzerland with a lower purchasing power gain. The workers umbrella organization Travail Suisse and the association Employees Switzerland have launched the 2017 wage round on Tuesday.

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Pictet – In conversation with Peter Diamandis

2016-08-11

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The world is living in exponential times, according to the Greek-American entrepreneur Peter Diamandis — an era when the pace of technological change is doubling every year or two. Speaking to an audience of 40 wealthy families at The Family Consilium which was convened in Gstaad by Pictet in June 2016, he said that the …

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Swiss Real Estate Bubble Index 2Q 2016 continues falling, Still in Risk Zone

2016-08-10

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2016-08-10

The UBS Swiss Real Estate Bubble Index nudged down in 2Q 2016 to 1.32 points and thus remains in the risk zone. This second drop in a row was due to house prices falling in real terms and the declining momentum of mortgage growth. Investments in real estate remain popular due to low interest rates.

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Switzerland Unemployment in July 2016: Remained unchanged at 3.1 percent, seasonally adjusted unchanged at 3.3 percent

2016-08-09

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2016-08-09

At the end of July 2016 there were 139'310 registered as unemployed, 183 more than last month. The unemployment rate remained at 3.1% in June. Compared to the previous month, unemployment increased by 5'556 persons (+ 4.2%). Seasonally adjusted 3.3%, one year ago 3.2%.

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