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Rate of Contraction Exceeds the Global Financial Crisis
Rate of Contraction Exceeds the Global Financial Crisis The US is suffering the fastest deterioration in operating conditions for over 11 years. Markit reports Output Contracts at Fastest Pace in Survey History amid COVID19 pandemic . Key Findings Flash U.S. Composite Output Index at 27.4 (40.9 in March). New series low. Flash U.S. Services Business Activity Index at […]
As Unemployment Claims Rise, So Do Missed Mortgage Payments
As Unemployment Claims Rise, So Do Missed Mortgage Payments Over 22 million people have filed for unemployment benefits in the past 4 weeks. Many struggle with payments. Black Knight reports More than 2.9 Million in Forbearance, 5.5% of All Mortgages Key Details As of April 16, more than 2.9 million homeowners – or 5.5% of all […]
Hyperinflationists Come Out of the Woodwork Again
Hyperinflationists Come Out of the Woodwork Again CoinDesk asked me to share my opinions on the chance of hyperinflation. My thoughts are below. From CoinDesk Hi Mish, I am working on an article for CoinDesk about recent fiscal and monetary splurge by governments and central banks across the globe and the impact on gold and […]
50,000 New Coronavirus Infections Per Day in China
50,000 New Coronavirus Infections Per Day in China Prof. Neil Ferguson, Vice Dean Faculty of Medicine, Imperial College in London, estimates 50K new infections per day. Please consider the following video by Prof. Neil Ferguson. 10 Key Video Points 50,000 new cases a day in china Infections doubling every 5 days Death rate is still […]
“Made in China” Economic Hit Coming Right Up
“Made in China” Economic Hit Coming Right Up Economic contagion due to the coronavirus is underway. Hyundai halted production. Sony, Apple, and Ford issued warnings. If you can’t get parts, you can’t build cars. And due to a coronavirus-related manufacturing halt in China, Hyundai to Shut Down Some Production. Hyundai, the world’s fifth-largest carmaker, announced Tuesday […]
Hundreds of Virus Carrying Planes Headed for US, London, Paris, Vancouver
Hundreds of Virus Carrying Planes Headed for US, London, Paris, Vancouver Lockdowns are for the peasants, not those with money. What Does Halt All Traffic Mean? This morning, I Decided to Research this Question: I don’t Know Jim, good question. China statements say “tours” Other sources suggest “individuals” So … Is it Tours or Individuals? […]
Bubbles Everywhere: All Dressed Up and Nowhere to Hide
Bubbles Everywhere: All Dressed Up and Nowhere to Hide Economist Robert Shiller says there is no alternative to riding out bubbles. Please consider Stock Market Crash Near? Nobel Laureate Sees ‘Bubbles Everywhere’ When Nobel Laureate and “Irrational Exuberance” author Robert Shiller says he sees bubbles in the financial markets — you’d better listen up. He literally […]
What the Hell is the ECB Doing?
What the Hell is the ECB Doing? Danielle DiMartino poses an interesting question regarding the ECB. I have a set of answers. What is the ECB Doing? I started thinking about that question weeks ago. I have a set of answers and even started writing this post before DiMartino brought it to the forefront. There […]
Lagarde Praises Negative Rates, Study Shows They Reduce Lending
Lagarde Praises Negative Rates, Study Shows They Reduce Lending Incoming IMF chief Christine Lagarde says negative rates have helped Europe more than they’ve hurt. I disagree. The nearly always wrong Christine Lagarde is wrong once again. Today she claims Negative Rates Have Helped Europe More Than They’ve Hurt. The next head of the European Central Bank, […]
Barron’s Nonsensical Idea: Cut Rates Like Mad to Avoid Recession
Barron’s Nonsensical Idea: Cut Rates Like Mad to Avoid Recession Barron’s writer Matthew Klein proposes to stop the recession by cutting interest rates like it’s 1995. Klein says How to Avoid a Recession? Cut Interest Rates Like It’s 1995. One of the most reliable harbingers of U.S. recession—short-term interest rates on U.S. Treasury debt higher than […]
Recession Looms: Cass Freight Index Negative for 7th Month
Recession Looms: Cass Freight Index Negative for 7th Month According to Cass, “Freight shipments signal economic contraction”. The Economic Outlook from Freight’s Perspective is not promising. With the -5.3% drop in June following the -6.0% drop in May, we repeat our message from last month: the shipments index has gone from “warning of a potential slowdown” to […]
Not Winning: Collapse in Global Trade Escalates, Imports -2.7%, Exports -4.0%
Not Winning: Collapse in Global Trade Escalates, Imports -2.7%, Exports -4.0% Those who claim that Trump has already won or is sure to win the trade war need to ponder actual trade results. Exports rose 1.0% in March with imports up a reported 0.9%. That progress was taken away and then some in April. The Census […]
Lacy Hunt Blasts MMT and Speaks of Hyperinflation If Implemented
Lacy Hunt Blasts MMT and Speaks of Hyperinflation If Implemented In the Hoisington First Quarter Review, Lacy Hunt blasts MMT as “self-perpetuating” inflation. Please consider the Hoisington Investment Quarterly Outlook for the first quarter of 2019. MMT Leads to Hyperinflation Under existing statutes, Fed liabilities, which they can create without limits, are not permitted to be used […]
Zombified Economy: What Will the Next Recession Look Like?
Zombified Economy: What Will the Next Recession Look Like? The short answer is nothing like the last. If you search for “next recession” numerous ideas pop up. Many believe there will not be a recession soon. Condition Comparison Conditions are radically different than in 2007 and 2000. The Fed re-blew a housing price bubble but […]
Real Reason Trump Wants to Ban Huawei: US Wants to Spy and China Won’t Cooperate
Real Reason Trump Wants to Ban Huawei: US Wants to Spy and China Won’t Cooperate The UK, Germany, India, and the United Arab Emirates are among the countries resisting US pressure to Ban Huawei. The New York Times reports U.S. Campaign to Ban Huawei Overseas Stumbles as Allies Resist. Over the past several months, American officials […]
