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New & Used Autos, Chip Shortages, Inflation, and the Nasty Possibility of StagflationOct 11, 2021 - 08:26:42 PDT
Discussing mind-boggling distortions and some of the craziest market conditions.
Bank of England Talks Tightening amid “Altered Consumer Behavior,” Visions of Persistent InflationOct 11, 2021 - 08:22:32 PDT
“It’s appropriate” that markets price in “a significantly earlier path of tightening than they did previously.”
All eyes are on the Fed, which will follow. ECB also getting nervous. Other central banks are way ahead.
Oct 11, 2021 - 08:14:55 PDT
Consumer credit rose by $14.4 billion in August but economists expected $18.1 billion.
There is only one way to describe the fiscal mindset of those in the White House and in Congress who are proposing new federal budgetary expenditure and taxing increases in the trillions of dollars: a fantasy land of financial irrationality.
"Omarova is right to point out the deficiencies in central banking. Nonetheless, ending traditional banking to fix central banking would be like closing schools to improve student retention. There are easier ways forward." ~ Kenneth Kalczuk
The push for central bank digital currencies is an assault on privacy and freedom.
Just Wait Until We See The Impact Of Forced Vaccine Mandate Layoffs On The Labor ForceOct 11, 2021 - 07:57:09 PDT
The Fed’s Daly had comments on this over the weekend, noting “everyone is feeling the rising prices, and it’s painful.” However, “Inflation is directly related to Covid,” and hence to unwanted injections rather than unneeded monetary ones. Luckily, Daly doesn’t see this as “a long-term phenomenon,” yet at the same time, “If we continue to have supply bottlenecks and we keep spending, we will have more inflation.”
Gold eased slightly on Monday as the dollar firmed on expectations that the Federal Reserve would move forward with its plans to taper economic support despite U.S. September jobs data falling short of forecasts.
Oct 11, 2021 - 05:26:26 PDT
This week’s news, or “news,” about the US Treasury’s ability, or willingness, or just trial-balloon troll-suggestion to mint a one trillion dollar ($1,000,000,000,000) platinum coin in order to extend the country’s debt-limit reminded me of some other monetary reading I encountered, during the sweltering summer, when it first became clear to many that the...
Global Debt Will Be Nearly Three Times Bigger Than Global GDP by Year-End: S&POct 11, 2021 - 05:24:11 PDT
Global debt rose to a record high of nearly $300 trillion in the second quarter of this year, data from the Institute of International Finance (IIF) shows. Total debt, including government, household, corporate and bank debt, soared $4.8 trillion to $296 trillion at the end of June, $36 trillion above its pre-pandemic levels.
A quick backstory of Japan is too instructive and telling...not to tell. Because the story of Japan is really soon to be the story of nearly all the developed world. Know Japan; know thyself.
‘It’s Not Sustainable’: What America’s Port Crisis Looks Like Up Close: NYTOct 11, 2021 - 05:20:17 PDT
An enduring traffic jam at the Port of Savannah reveals why the chaos in global shipping is likely to persist.
Factories and service providers require energy to boost production, but oil and natural-gas supplies are tight.
It’s turning into a debacle. Evergrande bonds ended the week at 20 cents on the dollar, with yields surging to 72.5%. China’s real estate sector was hammered this week following the surprise default by mid-sized developer Fantasia Holdings.
Debt-Ceiling Fight Delayed, but Yellen Warns Potential for ‘Catastrophe’ RemainsOct 11, 2021 - 05:07:16 PDT
U.S. Treasury Secretary Janet Yellen warned Sunday of "catastrophe" if Senate Republicans' unwillingness to raise the debt ceiling causes the U.S. to default in December.
Beyond Evergrande, China’s Property Market Faces a $5 Trillion ReckoningOct 11, 2021 - 05:01:41 PDT
Developers have run up huge debts. Now sales are down, Beijing is imposing borrowing curbs, buyers are balking at prices, and even demographics are looking dimmer. The government is trying to address the situation without damaging the economy.
IMF Board Expected To Decide Managing Director Georgieva’s Fate on MondayOct 11, 2021 - 04:59:37 PDT
The International Monetary Fund's executive board was meeting on Sunday with Managing Director Kristalina Georgieva and the law firm that claims she pressured World Bank staff to change data to favor China in her previous job, sources familiar with the matter said.
Oct 11, 2021 - 04:56:48 PDT
s the global economy recovers and global leaders prepare to gather for a landmark conference on climate change, the sudden energy crunch hitting the world is threatening already stressed supply chains, stirring geopolitical tensions and raising questions about whether the world is ready for the green energy revolution when it’s having trouble powering...
Central Bankers Are Spooked by Signs That Inflation Is Lingering for LongerOct 11, 2021 - 04:54:08 PDT
With inflation accelerating, the Federal Reserve is set to slow its asset-purchase program, while peers in Norway, Brazil, Mexico, South Korea and New Zealand are among those to have already raised interest rates.