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Loonie Tumbles As Bank Of Canada Capitulates
Loonie Tumbles As Bank Of Canada Capitulates Add The Bank of Canada to the list of flip-flopping central banks as it has now fully abandoned its bias toward raising interest rates as the economy grapples with a slowdown, bringing its policy into line with the Fed. “Governing Council judges that an accommodative policy interest rate continues […]
As the Madness Turns
As the Madness Turns A Growing Gap The first quarter of 2019 is over and done. But before we say good riddance. Some reflection is in order. To this we offer two discrete metrics. Gross domestic product and government debt. US nominal GDP vs total federal debt (in millions of USD) – government debt has […]
Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row
Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row Canadian GDP just contracted for the second month in a row, leaving the headline Canada GDP up just 0.4% SAAR in 4Q, according to Statistics Canada (dramatically below the estimate of +1.0%). The headline quarterly change misses even lowest of economist estimates. And on a […]
A Survival Guide For 2019
A Survival Guide For 2019 How to safely navigate the ‘Year Of Instability’ As the first month of the year concludes, it’s becoming clear that 2019 will be a very different kind of year. The near-decade of ‘recovery’ following the Great Financial Crisis enjoyed a stability and tranquility that suddenly evaporated at the end of […]
Big Trouble in Little China
A worker cleans the promenade in Shanghai on July 24, 2014. (Johannes Eisele/AFP/Getty Images) Big Trouble in Little China The country’s economic problems are starting to escalate. China is a country of extremes, especially regarding economic forecasts. There are those who think “China will take over the world” with its technocratic central planning. Then there […]
238 academics call on the EU to plan for a post-growth future
238 academics call on the EU to plan for a post-growth future Preface. We know there’s going to be no growth soon due to peak oil and limits to growth, and ought to be planning for it so that the financial system doesn’t “freak out” and crash like Humpty Dumpty, beyond repair. We will eventually […]
The Next Recession: What It Could Look Like
The Next Recession: What It Could Look Like With the New Year and the US recovery soon to be record-breaking in duration, many are asking when the next recession is likely to come and what will cause it. While none of us has a crystal ball that gives a clear view of the future, there […]
Opinion: Sooner or Later, We Have to Stop Economic Growth–And We’ll Be Better For It
OPINION: SOONER OR LATER, WE HAVE TO STOP ECONOMIC GROWTH — AND WE’LL BE BETTER FOR IT The end of growth will come one day, perhaps very soon, whether we’re ready or not. If we plan for and manage it, we could well wind up with greater well-being. Illustration by Kelsey King January 8, 2019 […]
China Won’t Be Taking Over
China Won’t Be Taking Over Pablo Picasso Massacre in Korea 1951 In the New Year, after a close to the old one that was sort of terrible for our zombie markets, do prepare for a whole lot of stories about China (on top of Brexit and Yellow Vests and many more windmills fighting the Donald). […]
If We Can No Longer Tell the Truth, We’ve Failed
If We Can No Longer Tell the Truth, We’ve Failed The Gulag Archipelago is not a distant memory; it lives on in every modern state, cloaked with modern-day technologies and the well-worn tools of suppression. The last thing addicts want to hear is the truth: the only thing more terrifying than the truth is the […]
Could Stocks Rally Even as Parts of the Economy Are Recessionary?
Could Stocks Rally Even as Parts of the Economy Are Recessionary? It’s not yet clear that the stock market swoon is predictive or merely a panic attack triggered by a loss of meds. We contrarians can’t help it: when the herd is bullish, we start looking for a reversal. When the herd turns bearish, we […]
Chinese Professor Censored After Admitting Real GDP Growth Is Below 2%
Chinese Professor Censored After Admitting Real GDP Growth Is Below 2% Stirring up unpleasant echoes of the market chaos that swept the world in the opening days of 2016, Apple’s decision to cut its quarterly revenue guidance for the first time in 16 years – citing slowing iPhone sales in China as the primary culprit […]
Beyond GDP to a New Road to Serfdom
BEYOND GDP TO A NEW ROAD TO SERFDOM It is a commonplace that there is more to life than money and the material benefits that it may provide someone. We often make trade-offs between income-earning work opportunities and more time with family or friends, or between risky but well-paying employment and a calmer and less […]
Paper Lanterns
Paper Lanterns Mud Volcanoes There are numerous explanations for just what in the heck is going on with the economy. Some are good. Many are bad. Today we’ll do our part to bring clarity to disorder… Two data series it is worth paying attention to at the moment: the unemployment rate (U3) and initial […]
