January 2021 was, it may have seemed, only the start of something big. Huge. Colossal. Coronavirus vaccines had been discovered, publicized, and rolled out, meaning for the first time a real shot at ending the pandemic. The world could quickly get back to normal, the economy recovering its footing, and between January and that bright future Uncle Sam was going [...]
Central banking’s real monetary power comes from a different kind of printing. We’re all taught and told from the very beginning that it's derived from enjoying the money printer, the ability to stack currency at will. No. In actual fact, monetary policies are all money-less leaving “monetary” authorities to employ instead the press which prints words.Deciding which words, and more [...]
The wise man is one who knows what he does not know. - Lao Tzu or Socrates or neither It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so. - Mark Twain or Josh Billings or Artemus Ward or none of the above Stocks are at all-time [...]
98.3 Lightning Round: AUD CNY Au/Ag RRP ECB NG1 BoE and QE! ———Ep 98.3 Summary———Lightning round review of the: Australian dollar, Chinese yuan, gold-silver ratio, Federal Reserve's reverse repo program, European Central Bank's symmetric inflation target and natural gas. Also, the House of Lords questions the Bank of England's use of QE. ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr [...]
Almost universally, the comeback is always QE. Whenever trying to discuss the bond market’s unmovable pessimism in 2021, especially now about six months after reflation ended, people just don’t want to hear about such low (and lower) growth and inflation expectations in nominal yields. No, that’s not deflationary potential, they’d say, it was and is the Fed buying bonds which [...]
98.2 NBC News Poll Shows Economic Wisdom of the Crowds ———Ep 98.2 Summary———A long-standing NBC News Survey shows John & Jane Q. Public perceive the economy's condition BETTER than economists who anchor to the unemployment rate. Since 2005, US citizens have sensed each global dollar squeeze. They may be noticing another one, right now. ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear [...]
The inflation hysteria striking the US just hasn’t caught on elsewhere. China is a perfect example of resisting the strain. According to new figures from the Chinese government, consumer price inflation had retreated again during August 2021. The year-over-year change for their CPI was just 0.8%. This was the lowest since March, the fourth straight month of decelerating price changes.China’s [...]
98.1 America's Labor Shortage (doesn't exist?) ———Ep 98.1 Summary———A lousy labor market report for August is being blamed on a "labor shortage". Also, 'lazy Americans' and 'the delta'. But the real problem is that businesses will not pay a market-clearing wage to hire the workers they need. Why not? Because the economy is lousy. ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear [...]
What an intriguingly odd month September 2017 turned out to be. To start with, Reflation #3 only seemed to be gaining strength. The full throat behind Inflation Hysteria #1 was still ahead, as was its related personage the BOND ROUT!!!! And yet, early in that late summer month a sudden eruption; actually several. On September 5, T-bills. A day later [...]
The economic slowdown we've been writing about for months officially arrived last Friday in the form of a particularly weak employment report. The number of new jobs created last month - or at least the WAG the BLS makes at such things on a monthly basis - was a mere 235,000 or roughly a cool half-million less than expected by [...]
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