Tag Archive: Featured

“Inflation” and America’s Accelerating Class War

2020-09-21

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2020-09-21

Wealth inequality, 1910-2010
Those who don't see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling. I recently came across the idea that inflation is a two-factor optimization problem.

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If Dollar Is Fixed By Jay’s Flood, Why So Many TIC-ked At Corporates in July?

2020-09-21

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2020-09-21

When the eurodollar system worked, or at least appeared to, not only did the overflow of real effective (if virtual and confusing) currency “weaken” the US dollar’s exchange value, its enormous excess showed up as more and more foreign holdings of US$ assets.

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Turning to Keynes in this Crisis Will Only Make Things Worse

2020-09-21

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2020-09-21

In the New York Times on September 8, 2020, Paul Krugman wrote that. The CARES Act, enacted in March, gave the unemployed an extra $600 a week in benefits. This supplement played a crucial role in limiting extreme hardship; poverty may even have gone down.

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Chlorothalonil in Zurich’s groundwater above the limit in 60 percent of samples

2020-09-20

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2020-09-20

The banned substance chlorothalonil, which is in some pesticides, has been found to be above the limit in 60% of ground water samples taken across the canton of Zurich over the last 12 months, reported SRF.

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Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?

2020-09-20

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2020-09-20

The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading.

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Reopening Inertia, Asian Dollar Style (Still Waiting On The Crash)

2020-09-20

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2020-09-20

Why are there still outstanding dollar swap balances? It is the middle of September, for cryin’ out loud, and the Federal Reserve reports $52.3 billion remains on its books as of yesterday.

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What the Trade Balance Means for a Currency’s Purchasing Power

2020-09-20

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2020-09-20

In July this year the US trade balance stood at a deficit of $63.6 billion against a deficit of $51 billion in July last year. Some commentators regard a widening in the trade deficit as an ominous sign for the exchange rate of the US dollar against major currencies in the times ahead.

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Inflation as a Tool of the Radical Left

2020-09-20

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2020-09-20

Rising money stock meets shrinking production, 2000-2020
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch its currency….Lenin was certainly right. There is no subtler, no surer way of overturning the existing basis of society than to debauch the currency.

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Paternity Leave: ‘Nobody is talking about the indirect costs’

2020-09-19

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2020-09-19

Switzerland doesn’t need two weeks of paternity leave, says Radical-Liberal politician Yasmine Bourgeois. The mother of three says if the proposal is accepted on September 27, left-wing groups will keep asking for more and more.

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Monetary Policy Flapping in the Wind

2020-09-19

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2020-09-19

Stephanie Kelton’s new book has attracted much attention, and Bob Murphy and Jeff Deist have already reviewed it, with devastating results. Why another review? The policies proposed in the book are so pernicious that further exposure of what she has in store for us is needed, and I have some new points to offer for your consideration.

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Risk Appetite Ebbs Ahead of BOE Decision

2020-09-19

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2020-09-19

US Curve, Breakevens, Real Yields, 2020
The dollar has gotten some limited traction despite the dovish FOMC decision; the FOMC delivered no surprises. We are seeing some more movement on fiscal stimulus; August retail sales disappointed yesterday.

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Federal Judge: Pennsylvania’s Stay-at-Home Order Is an Assault on Human Rights

2020-09-19

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2020-09-19

A federal judge on Monday ruled that Pennsylvania governor Tom Wolf’s covid-19 stay-at-home orders and forced business closures were unconstitutional. US district judge William Stickman IV of the US District Court for the Western District of Pennsylvania ruled that Wolf’s orders violated the Constitution in three ways.

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FX Daily, September 18: When Every Thing is Said and Done, More is Said than Done

2020-09-18

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2020-09-18

Asia Pacific equities have taken the march on the US.  Led by a 2% rally in Shanghai, most regional markets but Australia closed the week with gains.  A two-week fall in the MSCI Asia Pacific Index has been snapped.  European stocks are little changed, and the Dow Jones Stoxx 600 is holding on to its second week of gains.

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Weekly View – No breakfast at Tiffany’s

2020-09-18

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2020-09-18

The impact of political tensions on business is ever more apparent: LVMH of France will not, after all, proceed with the purchase of Tiffany of the US. If, as seems likely, the hand of the French government was involved, this is solid evidence that political sensitivities are increasingly influencing cross-border deals – something that is likely to remain the case just as M&A in general has been declining.

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Toxins found in popular Swiss tourist spot

2020-09-18

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2020-09-18

Carcinogenic toxins have seeped into the groundwater at the Blausee in the Bernese Oberland, killing thousands of fish, say the owners of the lake’s fish farm. They point the finger at companies renovating the Lötschberg summit tunnel and the authorities.

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12 States That Keep Retirement Dollars in Your Pocket

2020-09-18

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2020-09-18

Map courtesy AARP
“Will I outlive my money?” That’s one of the biggest concerns for most retirees. There’s the high cost of medical care, which gets more expensive all the time. There’s inflation, which raises the cost of goods and services, eating into your retirement budget.

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Clay Miller: An Entrepreneurial Journey to New Lands, New Organizational Designs, and New Value

2020-09-18

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2020-09-18

The entrepreneurial instinct can be sparked in K-12 and around the family dinner table. An entrepreneurial culture is highly beneficial to society at the global, national, and local levels. We should examine how well we nurture the entrepreneurial instinct in K-12 schooling and in the discussions we have with our kids at home.

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The Saving Problem in America: Alternatives and Reforms

2020-09-18

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2020-09-18

Since before covid-19 and the lockdown, I have written articles that touch on the purpose and importance of personal savings, and more importantly, why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans. As a result, I have been interviewed a couple of times specifically on the topic of personal savings. These interactions have indicated to me that people do not understand the...

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FX Daily, September 17: Powell Lets Steam Out of Equities and Spurs Dollar Short-Covering

2020-09-17

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2020-09-17

Profit-taking after the FOMC meeting saw US equities and gold sell-off. The high degree of uncertainty without fresh stimulus did not win investors' confidence. The Fed signaled rates would likely not be hiked for the next three years, and without additional measures, that appears to be the essence of the switch to an average inflation target.

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Referendum: Swiss to vote on ending EU agreement

2020-09-17

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2020-09-17

On 27 September 2020, Swiss voters have many decisions to make. This time the list of votes includes decisions on fighter jets, hunting, tax deductions for child care and paternity leave. Probably the most important among them is a decision on whether to accept a proposal to end the EU agreement on the free movement of people between Switzerland and the bloc, known as the Limitation Initiative.

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