Tag Archive: newslettersent

2017-05-20

Transitory Retail Sales, January 2013 - May 2017

Retail sales estimates are not adjusted for inflation, but even so whenever they get down toward the 3% growth level you can be sure there is serious economic trouble. The 6-month average for overall retail sales dropped below 3% in March 2001, the month that marked the start of the official dot-com recession (though that is not the official name for the cyclical peak, it probably should be).

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FX Daily, May 19: Markets Trying to Stabilize Ahead of Weekend

2017-05-19

2017-05-19

Judging from investors' reactions, the only thing worse that than the low volatility environment is when volatility spikes higher, as it did yesterday. Higher volatility is associated with weakening equity markets, falling interest rates, pressure on emerging markets, a strengthening yen and, sometimes, as was the case yesterday, heavier gold prices.

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Income and living conditions (SILC) 2015: Poverty in Switzerland: 7 percent of the Swiss population were affected by income poverty

2017-05-19

by Swiss Statistics

2017-05-19

Poverty rates according to different characteristics 2015

Neuchâtel, 15.05.2017 (FSO) - In 2015 approximately 570 000 people were affected by income poverty in Switzerland. Just under 145,000 of these were employed. The groups most affected were persons living alone or in single parent households with minor children, persons with no post-compulsory education and those living in households where no-one works.

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Three Swiss Farms Close a Day

2017-05-19

2017-05-19

The trend for fewer but larger farms continued in Switzerland last year, with the total number dropping by 990 to 52,263. While small and conventionally farmed businesses were throwing in the towel, organic agriculture flourished.

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Cyber Attacks Show Vulnerability of Digital Systems and Digital Currencies

2017-05-19

by Mark O'Byrne

2017-05-19

Cyber Attacks Show Vulnerability of Digital Systems and Digital Currencies – Cyberattacks expected to spread today in “second phase”– UK intelligence says scale of threat significant– Microsoft slams NSA for letting hacking tools cause global malware epidemic– Ransomware attack already crippled more than 200,000 computers in 150 countries– 1.3 million computer systems believed to be at risk

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Syngenta deal will ‘drive modernisation’ of Chinese farming

2017-05-19

2017-05-19

Syngenta, the Swiss agribusiness group which is being acquired by ChemChina in the biggest foreign takeover by a Chinese company, will help Beijing modernise China's farm sector while simultaneously remaining firmly a "western company", its chairman has said. Michel Demaré told The Financial Times that, under its new owners, Syngenta would become "a partner of the Chinese government to basically drive the modernisation of Chinese agriculture – so...

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Hopefully Not Another Three Years

2017-05-19

2017-05-19

The stock market has its earnings season, the regular quarterly reports of all the companies that have publicly traded stocks. In economic accounts, there is something similar though it only happens once a year. It is benchmark revision season, and it has been brought to a few important accounts already. Given that this is a backward looking exercise, that this season is likely to produce more downward revisions shouldn’t be surprising.

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FX Daily, May 18: Some Respite from US Politics as Sterling Surges Through $1.30

2017-05-18

2017-05-18

Yesterday's dramatic response to the political maelstrom in Washington is over. The appointment of a special counsel to head up the FBI's investigation into Russia's attempt to influence the US election appears to have acted a circuit breaker of sorts. It is not sufficient to boost confidence that the Trump Administrations economic program is back the front burners, but it is sufficient to stem the time for the moment.

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History of Gold – Interesting Facts and Changes Over 50 Years

2017-05-18

by Mark O'Byrne

2017-05-18

History of Gold – How the gold industry has changed over 50 years. Thomson Reuters GFMS have compiled an interesting high level history of the gold industry in the last fifty years. Topics covered and interesting historical facts to note include: Gold market size– Gold mine production “peaked in 2015”. South African production collapse from 1,000 tonnes.

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Cabinet sees no need to regulate social media

2017-05-18

2017-05-18

Remain vigilant, continue to monitor, but no need for concerted federal action. This was the conclusion of a cabinet report Wednesday on social media and the problems it can provoke, including “fake news” and distorting public opinion. The cabinet decided that, for now, more regulation is not the solution.

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China Inflation Now, Too

2017-05-18

2017-05-18

China Producer Price Index, April 2007 - May 2017

We can add China to the list of locations where the near euphoria about inflation rates is rapidly falling apart. This is an important blow, as the Chinese economy has been counted on to lead the world out of this slump if through nothing other than its own sheer recklessness. “Stimulus” was all the rage one year ago, and for a time it seemed to be producing all the right effects. This was “reflation”, after all.

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How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

2017-05-18

by MN Gordon

2017-05-18

Somehow, former Federal Reserve Chairman Ben Bernanke found time from his busy hedge fund advisory duties last week to tell his ex-employer how to do its job. Namely, he recommended to his former cohorts at the Fed how much they should reduce the Fed’s balance sheet by. In other words, he told them how to go about cleaning up his mess.

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Swiss National Bank releases updated banknote app

2017-05-17

by SNB

2017-05-17

The Swiss National Bank (SNB) is releasing an app for mobile devices, designed to help the public familiarise themselves with the new banknotes. The app – an updated version of the ‘50-franc’ app launched last year to accompany the issue of the new 50-franc note – is now called ‘Swiss Banknotes’ and can be downloaded free of charge from the Apple (itunes.apple.com) and Google Play (play.google.com) app stores.

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FX Daily, May 17: Drama In Washington Adds To Dollar Woes

2017-05-17

2017-05-17

The US dollar has drifted lower against most of the major currencies as the culmination of news from Washington, escalating already rising concerns about the economic agenda that was to bolster growth with dramatic tax reform, infrastructure initiative, and re-orienting trade.

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Cool Video: Oil, US Inflation

2017-05-17

2017-05-17

I was on Bloomberg's Day Break with the team and guest Anne Lester from JP Morgan discussing oil and inflation. Oil prices had bounced back at the end of last week and were lifted further on news that Saudi Arabia and Russia were inclined to support extending output cuts not just until the end of the year, but through Q1 18.

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Swiss export products banned as toxic at home

2017-05-17

2017-05-17

In the wake of a Chinese takeover of the Swiss agribusiness group Syngenta, a Swiss advocacy group raises concerns about Switzerland's regulatory role. Switzerland exports two powerful herbicides, atrazine and paraquat, to developing countries. However, these products, manufactured by Basel giant Syngenta, are prohibited in the Swiss territory.

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Rising Oil Prices Don’t Cause Inflation

2017-05-17

by Frank Shostak

2017-05-17

A very good visual correlation between the yearly percentage change in the consumer price index (CPI) and the yearly percentage change in the price of oil seems to provide support to the popular thinking that future changes in price inflation in the US are likely to be set by the yearly growth rate in the price of oil (see first chart below).

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Lackluster Trade, China April Edition

2017-05-17