Are the industrial commodities starting to get a whiff of demand side rejection? Short run trends suggest that this could be the case. From copper to iron and the highest (formerly) of the high flyers, aluminum, this particular group has been exhibiting a rather synchronized setback going back to the end of March, start of April.This despite supply bottlenecks and [...]
Irving Fisher was a prolific economic writer and thinker. In addition to decomposing bond yields into growth and inflation expectations, he also came up with something called the money illusion. He ever went so far as to write a book on the idea, published in 1928, for all his imagination called simply The Money Illusion.At issue is, essentially, human nature. [...]
Last night, Autodata reported its first estimates for September auto sales in the US. According to its own as well as those compiled by the Bureau of Economic Analysis (the same government outfit which keeps track of GDP), vehicle sales have been sliding overall ever since April. For a couple months in the middle of Uncle Sam’s helicopter-fed frenzy, the [...]
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