Tag Archive: newsletter

Entrepreneurship in the Time of COVID-19

2020-06-07

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2020-06-07

Per Bylund, author of The Seen, the Unseen, and the Unrealized: How Regulations Affect Our Everyday Lives has commented extensively here at mises.org, and in a variety of entrepreneurship-focused publications, about the economics of entrepreneursip. Editor Ryan McMaken recently asked Professor Bylund to comment on what challenges entrepreneurs face right now in a rapidly changing legal and economic landscape.

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Parliament approves extra CHF14.9 billion for Covid relief

2020-06-06

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2020-06-06

A further CHF14.9 billion ($15.5 billion) has been agreed by parliament to cope with the coronavirus pandemic. Most of it will go towards unemployment insurance, which finances short-time work compensation.

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Coronavirus: Switzerland holds off on open borders with Italy

2020-06-06

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2020-06-06

Switzerland’s Federal Council announced on June 2 that it plans to maintain border restrictions with Italy until further notice as a reciprocal border arrangement with Italy would be premature.

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What Did Everyone Think Was Going To Happen?

2020-06-06

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2020-06-06

Unemployment Insurance, Continued Claims, 2017-2020
Honestly, what did everyone think was going to happen? I know, I’ve seen the analyst estimates. They were talking like another six or seven perhaps eight million job losses on top of the twenty-plus already gone. Instead, the payroll report (Establishment Survey) blew everything away, coming in both at two and a half million but also sporting a plus sign.The Household Survey was even better, +3.8mm during May 2020. But, again, why wasn’t this...

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When Institutions Fail, Fragmentation and Decentralization Become Solutions

2020-06-06

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2020-06-06

Fruit of Financialization: Soaring Income Inequality
That which has failed is unsustainable, no matter how many trillions the Federal Reserve tosses against the tides of history.

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Cool Video: The Liquidity Hypothesis

2020-06-06

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2020-06-06

Jackie Pang from Meigu TV called and wanted to talk about the seeming disconnect between Wall Street and Main Street. In this nearly 4.5 minute clip that she posted here, she gave me plenty of time to explain what I make of it. 

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The Media Has Conveniently Forgotten George W. Bush’s Many Atrocities

2020-06-06

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2020-06-06

Former president George W. Bush has returned to the spotlight to give moral guidance to America in these troubled times. In a statement released on Tuesday, Bush announced that he was “anguished” by the “brutal suffocation” of George Floyd and declared that “lasting peace in our communities requires truly equal justice. The rule of law ultimately depends on the fairness and legitimacy of the legal system. And achieving justice for all is the duty...

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FX Daily, June 5: Greenback Remains Soft Ahead of Employment Report, but Reversal Possible

2020-06-05

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2020-06-05

The modest loss in the S&P 500 and NASDAQ yesterday did not signal the end of the bull run. All the markets in the Asia Pacific region rallied, with the Hang Seng among the strongest with a 1.6% advance that brought the week's gain to around 7.8%. South Korea's Kospi was not far behind with a weekly gain of 7.5%.  In the past two weeks, the MSCI Asia Pacific Index is up nearly 10%. 

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Que fait une banque centrale pour soutenir l’économie locale par temps de confinement? La BNS au menu

2020-06-05

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2020-06-05

Apple Confinement
Voici une vidéo tournée par Christian Campiche lors d’une rencontre matinale autour d’un café. Christian s’est mis à enregistrer alors que nous parlions de ce que la BNS faisait, et surtout ne faisait pas, pour soutenir la population suisse dans cette période de post-confinement.

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Coronavirus: 22,000 Swiss deaths with no shutdown, estimate modellers in Zurich

2020-06-05

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2020-06-05

Based on data from the first wave of Covid-19, epidemic modellers in Zurich estimate Switzerland would have suffered 22,000 deaths without the restrictions on daily life introduced in March 2020.

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NGOs urge Swiss banks to ease developing country debt

2020-06-05

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2020-06-05

A group of 11 NGOs has called on Swiss banks and government ministries to consider offering relief on billions in debt owed by developing nations. The consortium says that the coronavirus pandemic has increased economic pressure on the poorest countries.

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Dollar Firm as Risk-On Sentiment Ebbs Ahead of ECB Decision

2020-06-05

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2020-06-05

ECB Assets
Risk sentiment is taking a breather today after a strong run; the dollar is getting some modest traction. Fed tweaked its municipal bond program; weekly jobless claims are expected to rise 1.843 mln; Brazil and Mexico are seeing record high daily death counts.

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Global Silver Investment Demand To Surge While Supply Weak (World Silver Survey 2020) 

2020-06-05

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2020-06-05

20 Year Silver Price in USD/oz
◆ WORLD SILVER SURVEY 2020 from the SILVER INSTITUTE GLOBAL SILVER DEMAND EDGED HIGHER IN 2019, WITH INVESTMENT DEMAND UP 12%, WHILE SILVER MINE SUPPLY FELL FOR THE FOURTH CONSECUTIVE YEAR Global silver demand was pushed higher in 2019, with a 12 percent increase in investment demand as retail and institutional investors focused their attention on the long-term investment appeal of the white metal.

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FX Daily, June 4: Risk Taking Pauses Ahead of the ECB

2020-06-04

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2020-06-04

Overview: After several days of aggressive risk-taking, investors are pausing ahead of the ECB meeting.  Equities were mostly higher in the Asia Pacific region, though China was mixed, and Indian shares slipped.  Europe's Dow Jones Stoxx 600 is snapping a five-day advance, and US shares are trading with a heavier bias. The S&P 500 gapped higher yesterday, and that gap (~3081-3099) offers technical support.

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Swiss Consumer Price Index in May 2020: -1.3 percent YoY, 0.0 percent MoM

2020-06-04

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2020-06-04

Switzerland Consumer Price Index (CPI) YoY, May 2020
04.06.2020 - The consumer price index (CPI) remained stable in May 2020 compared with the previous month, remaining at 101.3 points (December 2015 = 100). Inflation was –1.3% compared with the same month of the previous year.

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Switzerland GDP Q1 2020: -2.6 percent QoQ, -1.3 percent YoY

2020-06-04

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2020-06-04

Switzerland Gross Domestic Product (GDP) QoQ, Q1 2020
Switzerland’s GDP fell by –2.6 % in the 1st quarter of 2020, after rising by +0.3% in the previous quarter. Due to the coronavirus pandemic and the measures to contain it, economic activity in March was severely restricted. The international economic slump also slowed down exports.

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‘Green’ aviation fuel aims to power planes by 2030

2020-06-04

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2020-06-04

The Covid-19 pandemic has overshadowed the climate crisis, but with the gradual return of consumption and travel, concerns about global warming are resurfacing. A Swiss start-up is developing an aviation fuel produced solely with water, solar energy and CO2. Will this emission-neutral fuel put an end to “flight shame”?

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The German Court’s Unexpected Blow to the ECB

2020-06-04

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2020-06-04

A high German court recently ruled that the European Central Bank has overstepped the bounds of its power. The angry response from high-ranking European bureaucrats tells us a lot about what they want for the EU. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: "The German Court's Unexpected Blow to the ECB"

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From QE to Eternity: The Backdoor Yield Caps

2020-06-04

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2020-06-04

Japan - JGB, 1986-2019
So, you’re convinced that low rates are powerful stimulus. You believe, like any good standing Economist, that reduced interest costs can only lead to more credit across-the-board. That with more credit will emerge more economic activity and, better, activity of the inflationary variety. A recovery, in other words. Ceteris paribus. What happens, however, if you also believe you’ve been responsible for bringing rates down all across the curve…and...

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FX Daily, June 3: Dollar is Sold and ROW is bought

2020-06-03

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2020-06-03

Overview: Two recent trends continue.  Equities are moving higher, and the dollar remains heavy.  Equity markets in the Asia Pacific region rose at least one percent, and South Korea, Singapore, and Malaysia rallied 2-3%.  Europe's Dow Jones Stoxx 600 is up more than 1% for the third consecutive session.  US shares are trading higher and are poised to extend their recent run.

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