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 [...]
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 [...]
In Massachusetts, the Federal Reserve’s First District, restaurateurs have struggled mightily to find workers. As part of the central bank’s Beige Book, one contact of the Boston leadership said the industry was “facing the worst labor shortage he has seen in 35 years of experience.” In response to such a major threat, these firms become truly creative to try to [...]
Inflation is sustained monetary debasement – money printing, if you prefer – that wrecks consumer prices. It is the other of the evil monetary diseases, the one which is far more visible therefore visceral to the consumers pounded by spiraling costs of bare living. Yet, it is the lesser evil by comparison to deflation which insidiously destroys the labor market [...]
It was a highly curious change in the shape of the labor force. Beginning October 2015 and lasting until March 2016, for six months Americans came flooding back into the labor market. Or, so they said. When the BLS’s various surveyors working on the Current Population Survey (known as the Household Survey) came calling for answers each month, all of [...]
We are going to start here with Europe before heading to Australia and then getting to China – and then currency. Why the ECB? It is going through the same pangs of dissatisfaction as its cousin the Federal Reserve had last summer. Like the Fed in 2020, Europe’s central bank in 2021 has climbed to the end of its grand [...]
Apparently, analysts were shocked when the Conference Board reported earlier today that its measure of consumer confidence, its own bread and butter, in the name, after all, dropped by a rather substantial eleven-plus points in August. And that was on top of a four-point downward revision to July. The new level of 113.8 compares to average expectations for ~124.0. Therefore, [...]
Jerome Powell delivered his long-anticipated speech at Jackson Hole last week. Well actually, I have no idea if he was actually in Jackson Hole since the speech was delivered electronically, another victim of the delta variant. The virus itself rated barely a mention in Mr. Powell's remarks and I think that is probably as it should be. There has been [...]
They were doing so well, or at least not quite as bad as throughout the prior several decades. Through this year’s 5% CPI’s, Federal Reserve policymakers stuck to their gut not their heart. Transitory factors. Right call (as we’ll see in a minute). That won’t be their mistake. On the contrary, these Economists (central bankers are all Economists nowadays, and [...]
The incidences of what’s downright bizarre have curiously become more frequent. Sign of the times. Pick your realm or timetable, there’s so much going wrong while completely disconnected from the “official” description of, or explanation for, whatever. Along these lines, did the US VP just warn America’s children from Singapore that Santa Claus’ legendary trade will be delayed, perhaps canceled?Summer [...]
Stay In Touch