Tag Archive: Featured

Consumers, Too; (Un)Confident To Re-engage

2020-12-19

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2020-12-19

Friedman's Plucking Model of Trend-Cycle Analysis
There is a lot of evidence which shows some basis for expectations-based monetary policy. Much of what becomes a recession or worse is due to the psychological impacts upon businesses (who invest and hire) as well as workers being consumers (who earn and then spend).

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Krankenzusatzversicherer: FINMA sieht umfassenden Handlungsbedarf bei Leistungsabrechnungen

2020-12-19

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2020-12-19

Die Eidgenössische Finanzmarktaufsicht FINMA stellt aufgrund ihrer jüngsten Analysen fest, dass Rechnungen im Bereich der Krankenzusatzversicherung häufig intransparent sind und zum Teil unbegründet hoch oder ungerechtfertigt scheinen.

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Fed Recommits to Misleading the Public About Inflation

2020-12-19

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2020-12-19

Did the Federal Reserve just usher in the next phase of the U.S. dollar’s decline? On Wednesday, the central bank recommitted to leaving its benchmark interest rate near zero for the foreseeable future. Fed officials also vowed to keep pumping cash into financial markets.

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Switzerland Construction prices fell by 0.2 percent in October 2020

2020-12-18

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2020-12-18

Development of the construction price index in Switzerland, October 2020
The construction price index recorded a decline of 0.2% between April and October 2020, reaching 99.7 points (October 2015 = 100). This result reflects a decline in building prices and a slight growth in civil engineering prices. Year on year, construction prices remained stable.

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What Did Hamper Growth ‘In A Few Months’

2020-12-18

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2020-12-18

US Industrial Production, SA 2011-2020
Over here, on the other side of that ocean, the US economy can only dream of the low levels Chinese industry has been putting up this late into 2020. At least those in the East are back positive year-over-year. Here in America, manufacturing and industry can’t even manage anything like a plus sign.

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Some Thoughts on the Latest Treasury FX Report

2020-12-18

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2020-12-18

The US Treasury’s latest “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States” report named Switzerland and Vietnam as currency manipulators. Both countries came under scrutiny in the last report and so this week’s announcement was only surprising in that it was made by a lame duck administration that will be gone in a month.

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Monetary policy assessment of 17 December 2020

2020-12-18

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2020-12-18

SNB Switzerland Conditional Inflation Forecast, December 2020
The coronavirus pandemic is continuing to have a strong adverse effect on the economy. Against this difficult backdrop, the SNB is maintaining its expansionary monetary policy with a view to stabilising economic activity and price developments.

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Wieso (Teil-)Lockdowns nicht gerechtfertigt sind – Einer Kurz-Analyse der Zahlen.

2020-12-18

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2020-12-18

Täglich werden wir von den Medien mit Behauptungen und Schocknachrichten in die kollektive Schockstarre getrieben.

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Trump’s NDAA Veto Threat Should Force a Conversation on Defense Spending

2020-12-18

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2020-12-18

A dirty secret of congressional military spending is that when the government allocates billions in spending, unnecessary, wasteful, and parochial interests quickly find their way into the legislation. Original Article: "Trump’s NDAA Veto Threat Should Force a Conversation on Defense Spending". This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

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Covid, December 18: 22 percent of Geneva tests positive for antibodies

2020-12-18

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2020-12-18

An update to an antibody study conducted by HUG and UNIGE suggests that 22% of Geneva’s population had been exposed to the SARS-CoV-2 virus by December 2020.

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Swiss Trade Balance November 2020: exports are on the rise

2020-12-17

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2020-12-17

Swiss exports and imports, seasonally adjusted (in bn CHF), November 2020
In November 2020, Swiss foreign trade stood out with an increase in both directions of traffic. In seasonally adjusted terms, exports advanced 4.8% and imports 4.2%. Falling over the previous two months, exports resumed their growth path and the trade balance closed with a surplus of 3.1 billion francs.

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FX Daily, December 17: Dollar Thumped

2020-12-17

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2020-12-17

Overview: The prospects of a UK-EU deal and US stimulus continue to underwrite risk appetites and weigh on the dollar.  Equity markets are moving higher.  Led by Australia and China, the MSCI Asia Pacific Index rose to new record highs, while Dow Jones Stoxx 600 in Europe is at its best level since February.

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Large government budget deficit in 2021 for Switzerland

2020-12-17

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2020-12-17

On 16 December 2020, Switzerland’s Council of States, the nation’s upper house, accepted a 2021 budget deeply in the red following its acceptance last week by the National Council.

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Covid: Swiss becoming more skeptical of vaccines

2020-12-17

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2020-12-17

Mistrust of vaccines against Covid-19 continues to rise in Switzerland, according to a recently published survey.

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Can 20 Years of Deflation Be Compressed into Two Years? We’re About to Find Out

2020-12-17

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2020-12-17

Extremes become more extreme right up until they reverse, a reversal no one believes possible here in the waning days of 2020.

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The US Money Supply Was up 37 Percent in November

2020-12-17

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2020-12-17

In November, money supply growth rate was essentially unchanged from October and remains near September's all-time high. The stabilization we find in money-supply growth in recent months comes after eight months of record-breaking growth in the US which came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages.

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Switzerland among best placed to recover from Covid crisis

2020-12-16

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2020-12-16

Switzerland is among the countries best equipped to withstand the effects of the global pandemic, although no nation has emerged unscathed, according to the World Economic Forum (WEF). 

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FX Daily, December 16: Greenback Slides Ahead of FOMC as Optimism Underpins Risk Appetites

2020-12-16

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2020-12-16

Overview:  The S&P 500 snapped a four-day downdraft helped by optimism over the progress toward fiscal stimulus and some hope that a new trade deal can still be negotiated between the UK and EU.  Europe reported better than expected PMIs.  Equities are broadly higher, as are interest rates, while the dollar slumps. 

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“Dirk Niepelt im swissinfo.ch-Gespräch (Interview with Dirk Niepelt),” swissinfo, 2020

2020-12-16

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2020-12-16

Swissinfo, December 14, 2020. HTML, podcast. We talk about CBDC, the Swiss National Bank, whether CBDC would render it easier to implement helicopter drops, and how central bank profits should be distributed.

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This Global Growth Stuff, China Still Wants A Word

2020-12-16

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2020-12-16

Before there could be “globally synchronized growth”, it had been plain old “global growth.” The former from 2017 appended the term “synchronized” to its latter 2014 forerunner in order to jazz it up. And it needed the additional rhetorical flourish due to the simple fact that in 2015 for all the stated promise of “global growth” it ended up meaning next to nothing in reality.Oddly the same for 2017’s update heading into 2018 and...

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