This article was originally published on Real Clear Markets on July 17th, 2020. 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. By that, I don’t mean to suggest Gorbachev was [...]
Not this again. When you really have run out of ideas, just set something aside for a time and then when it comes time again simply dust it off and pretend it is new and inspired. You can make it sound great, so long as no one remembers and realizes just how tired and ridiculous it actually is.It’s almost as [...]
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. [...]
Sporting goods and hobby stores, easily understandable. That category includes all kinds of leisure activities. In addition to basketballs and crafts, there’s musical instruments and books. Not long ago, the bookstore was practically extinct yet here it is making book on this trend. According to the Census Bureau, retail sales recorded at all the various types of retail outlets included [...]
It’s another one of those crisis-era programs, GFC1, the Fed probably hopes you never think too much about. Almost nobody noticed while the thing was operational. It was called the Supplementary Financing Program (SFP) which was thought up and initiated during the middle of September 2008 just two days after Lehman Brothers and AIG. Its purpose was, unbelievably, to drain [...]
It does sound impressive, maybe even encouraging. After two months of being shut down, industry in the US rebounded in June 2020 by the most in 60 years, and not one month during those intervening six decades was ever close. You have to go all the way back to December 1959 not just to find a larger monthly increase but [...]
After a record three straight months of decline for the seasonally-adjusted core CPI March through May 2020, it turned upward again in June. Buoyed by a partially reopened economy, the price discounting (prerequisite to the Big D) took at least one month off. No thanks to Jay Powell, of course, who sits on the sidelines while consumer prices (like the [...]
One small silver lining to the current situation, while Jay Powell is busily trying to sell you his inflation fantasy, he’s actually undermining it at the very same time. No mere challenge to his own “money printing” fiction, either, the Fed’s Chairman is actively disproving the entire enterprise. While he says what he says, pay close attention instead to what [...]
Foreigners are dumping their Treasuries! The Fed is monetizing the debt! The federal government has gone insane! Mass fiscal hysteria!Yet, yields on these things are comfortably within sight of their record lows as prices have never been higher. Supply is very obviously off-the-charts, but so, too, must be demand. Every time we hear about “too many” Treasuries the market yet [...]
AlhambraTube: https://youtu.be/blCLdWwl8gIApple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emilulous. Artwork by David 'Straight Outta London' Parkins. Podcast intro and outro is "Callin Shots" by Damma Beatz at Epidemic Sound. [Emil's Summary] Is the post-2008 economic 'boom' proving Marxism? Would [...]
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