Tag Archive: Featured

UBS Secures Naming Rights to New York’s Next Premier Entertainment and Sports Venue and Future Home of the New York Islanders

2020-07-23

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2020-07-23

State of the art UBS Arena at Belmont Park, developed in partnership with Oak View Group, the New York Islanders, and Sterling Project Development, is projected to open for the 2021-22 National Hockey League season.

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Group challenges law behind Covid-19 tracing app

2020-07-23

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2020-07-23

A committee has launched a referendum against changes made to the Epidemics Act to allow the introduction of the SwissCovid tracing app. The citizens say they’re concerned about data security.

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About that Spike in the Silver Price… 22 July

2020-07-23

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2020-07-23

Silver price vs Silver Basis
The price of silver has just spiked up about $2.00—that’s about 10%. All the usual suspects have been calling for silver to skyrocket. With some amusement, we have been watching ads from a guy known for savvy junior mining stock investments, who has been calling for gold to go up for a while.

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Market Sentiment Boosted by Stimulus Outlook

2020-07-23

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2020-07-23

Today, it’s all about the stimulus; the dollar remains under pressure. Mnuchin and Pelosi kick off the first round of talks for the next stimulus package this afternoon; it’s another quiet day in terms of US data; Canada reports May retail sales EU finalized its recovery package; UK reported June public sector net borrowing; Hungary is expected to cut rates 15 bp to 0.60%.

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Could the Economy Survive a W-Shaped Recovery?

2020-07-23

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2020-07-23

In the weeks following the United States shutting down over what has turned out to be mainly a nursing home epidemic, the economic geniuses on CNBC and Bloomberg discussed the various letter recoveries.

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Inflation: This Time Is Different

2020-07-23

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2020-07-23

Bank lending is contracting, and it is important to understand why. At this stage of the credit cycle, which began expanding following the aftermath of the Lehman crisis over a decade ago, a sharp contraction of bank credit to nonfinancials is normal.

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FX Daily, July 22: Pang of Uncertainty Spurs Profit-Taking

2020-07-22

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2020-07-22

The optimism among investors appears to have evaporated in the face of new US-Chinese tensions, possible delays in the next US fiscal stimulus, and new record virus infections in Australia and Hong Kong. US stocks had pared early gains yesterday, and the high-flying NASDAQ finished lower after setting new record highs. 

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Swiss banks eye Hong Kong clients for pro-democracy ties

2020-07-22

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2020-07-22

Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter.

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The Real Unemployment Rate is 21 percent and Heading Higher

2020-07-22

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2020-07-22

As businesses, agencies and organizations recalibrate to the reality that the V-shaped recovery was nothing but a brief fantasy, 6 million additional jobs lost may be a best-case scenario rather than the worst-case scenario.

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What Capitalism Can Do When Allowed, And Communism Never Will

2020-07-22

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2020-07-22

Mikhail Sergeyevich Gorbachev was awarded the Nobel Peace Prize in 1990 “for his leading role in the peace process which today characterizes important parts of the international community.” Maybe, but it sure didn’t start out that way.

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A Rising Demand for Money Won’t Save Us from Inflation

2020-07-22

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2020-07-22

According to popular thinking, not every increase in the supply of money will have an effect on the production of goods. For instance, if an increase in the supply is matched by a corresponding increase in the demand for money, then there will be no effect on the economy.

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Walter Berns and the Cult of “Patriotic” Sacrifice

2020-07-22

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2020-07-22

[unable to retrieve full-text content]In his great new book The Problem with Lincoln, Tom DiLorenzo brought back an old memory. As Tom points out, Walter Berns, who taught political science at Cornell and then worked for the American Enterprise Institute, was one of the main figures urging us to worship Honest Abe.

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ANDY MORAN & JOHNNY DOYLE: The Return of the GAA | Appetite for club action | New normal of training

2020-07-21

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Ballaghaderreen's Andy Moran & Johnny Doyle of Allenwood join Joe to discuss the new normal of the GAA after the return of club action.

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FX Daily, July 21: Europe and Tech Lift Risk Appetites

2020-07-21

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2020-07-21

Overview: The continued domination of the tech sector and Europe's tentative agreement are lifting equities and risk assets more generally today.  Australia and Hong Kong's 2.3%-2.5% rally led Asia Pacific markets.  The Dow Jones Stoxx 600 is higher for a third session and above its 200-day moving average for the first time since February. 

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The World Is Drowning in Debt

2020-07-21

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2020-07-21

According to the International Monetary Fund (IMF), global fiscal support in response to the crisis will be more than $9 trillion, approximately 12 percent of world GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way which we have not seen since World War II.

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Swiss Trade Balance Q2 2020: historic decline in exports and imports

2020-07-21

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2020-07-21

Switzerland Trade Balance, June 2020
Swiss foreign trade recorded a record decline in the second quarter of 2020. In seasonally adjusted terms, exports plunged by 11.5% compared to the previous quarter and imports even by 16.0%. This result stems from the traffic collapse recorded in April in the wake of the coronavirus pandemic, with May and June having regained some color. The trade balance closed with a record surplus of 9.6 billion francs.

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Mandatory masks well accepted on Swiss public transport

2020-07-21

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2020-07-21

Passengers on Swiss trams, buses, and trains have adapted well since a rule requiring face masks was introduced a fortnight ago. However, boat operating companies say they are losing business.

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Of Incomplete Plans and Recoveries

2020-07-21

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2020-07-21

China Industrial Production, 1999-2020
At the monthly press conference China’s National Bureau of Statistics (NBS) now regularly gives whenever the Big Three economic accounts are updated (this time along with quarterly GDP), spokesman Liu Aihua was asked by a reporter from Reuters to comment on how the global economic recession might impact the Communist government’s long range goal of reaching its assigned GDP target.

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The Dangers Posed by State-Controlled Digital Currency

2020-07-21

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2020-07-21

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

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FX Daily, July 20: Markets Yawn, Deal or No Deal

2020-07-20

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2020-07-20

Overview: While there are signs that Europe has reached a compromise on the grant/loan issue, the spillover into the markets is quite limited. China, with Shanghai's 3.1% gain, led a few markets in the Asia Pacific region higher, including Japan and India. Most markets were lower, and Europe's Dow Jones Stoxx 600 is a fractionally firmer, recovering from initial losses.

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