157.1 Consumer Prices Surge Worldwide in October - Why? ———Ep 157.1 Summary———Around the world data shows consumer prices are accelerating like we haven't seen in years, even decades. Why? Is it because politicians are wantonly giving away money? Are gluttonous central bankers printing cash? Is it a supply/demand imbalance? Is this the 1970s Great Inflation? ———Sponsor——— Macropiece Theater with Emil Kalinowski [...]
Christmas came early for retailers already experiencing a boom year. This, however, creates a bit of conundrum given that producers have suffered rather than flourished despite such great fortune at the top of the supply chain. In whichever location you look at, production has been at best questionable.Why?Theories abound. The mainstream is filled with those like what’s been reported as [...]
It began all the way back during the summer. Vice President Kamala Harris was in Singapore in August hosting a gathering of business leaders. Supply issues naturally came up, and the VP warned: The stories that we are now hearing about the caution that if you want to have Christmas toys for your children it might be the time to [...]
How much Mao is too much? If you’re like me, the answer is anything above zero. Introducing Maoism is quite like the adage of ice cream mixing dog poo; the former cannot improve the latter even a tiny drop. On the contrary, the smallest helping of feces leaves the whole thing smelling like it, rendered completely inedible no matter how [...]
Milton Friedman was touring India, and while there he shocked his audience by stating, “Inflation is always and everywhere a monetary phenomenon.” This was 1963, and the audacity of that statement is today understated. Back then, Keynes didn’t just rule there was hardly any opposition to such accepted orthodox dogma.Arguing from firmly empirical rather than theoretical grounds, Friedman’s effort was [...]
Alhambra CEO Joseph Y. Calhoun discusses the Katona effect in light of last week's 10-year low consumer sentiment number and the 30-year high inflation number.
Consumer sentiment hit a decade low last month, falling 6 points from an already low level. The culprit? Inflation, which we learned last week hit a 3 decade high in October. And if the founder of the University of Michigan consumer sentiment survey is right, the next thing we'll see is an economic slowdown. George Katona was a psychologist who [...]
Picking up where we left off from our review of the first series of landmines, including the big one at the end of 2008, the world has been rocked by these things in almost continuous succession. Every couple of years, “everyone” says the world is recovering from the previous “unexpected” shock only to find instead how the global system ends [...]
150.3 Warning Indicator Blinks Red on PBOC Balance Sheet ———Ep 150.3 Summary———What kind of foreign assets do you own PBOC? Well, we are adding a lot of "other" right now. "Other"? Yes, "other". What is that? Don't worry about it. What do you mean, 'Don't worry about it.'? Just know that we're adding it, whatever it is - it's good. ———Sponsor———Macropiece [...]
For the first time since last December, the level of Job Openings (JO) pictured by the BLS’s JOLTS survey declined. End of the line for the economy?I am intentionally overselling this monthly minus. While the latest figure for September 2021 was indeed less than the one for August, if only because August’s estimate was raised by several hundred thousand. Going [...]
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