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“Exorbitant Rise In Energy Prices” Forces Europe’s Top Steelmaker To Close Plants
“Exorbitant Rise In Energy Prices” Forces Europe’s Top Steelmaker To Close Plants Even though European power and natural gas prices have subsided this week, Germany, the largest economy in the bloc, still faces historically high energy costs that have forced cuts in industrial output. The latest example is the world’s largest steelmaker, ArcelorMittal, which released […]
Industrial Production Declines Most in 101 Years
Industrial Production Declines Most in 101 Years On the heels of miserable retail sales numbers comes the worst ever industrial production numbers. The Fed’s Industrial Production report provides another grim look at the Covid-19 wrecked economy. Total industrial production fell 11.2 percent in April for its largest monthly drop in the 101-year history of the index, as […]
China Has Ground To A Halt: “On The Ground” Indicators Confirm Worst-Case Scenario
China Has Ground To A Halt: “On The Ground” Indicators Confirm Worst-Case Scenario Back on Monday, when analysts and investors were desperately seeking clues whether China has managed to reboot its economy from the 2-week long hiatus following the Lunar New Year/Coronavirus pandemic amid the information blackout unleashed by the communist party in the already […]
Expect “Cascading Global Impact” As Coronavirus Causes Massive Manufacturing Disruptions Worldwide
Expect “Cascading Global Impact” As Coronavirus Causes Massive Manufacturing Disruptions Worldwide China has now placed hundreds of millions of its citizens under quarantine, leaving its economy grinding to a halt. Workers can’t leave their homes. Factories are idle. Most (if not all) of China’s ports are no longer shipping. International flights are increasingly banned from […]
“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 […]
How US Oil Booms & Busts Hit Industrial Production
How US Oil Booms & Busts Hit Industrial Production Fueled by cheap money and by dashed hopes of high oil prices. Industrial production in October rose 4.1% from a year ago, the Fed Board of Governors reported this morning. This was in the upper portion of the range since 2010. It was powered in part […]
Swan Song Of The Central Bankers, Part 5: The Flat Line Does Not Spell Recovery
Swan Song Of The Central Bankers, Part 5: The Flat Line Does Not Spell Recovery The punk January industrial production (IP) report brought another reminder that the Fed has stimulated nothing at all on the output/employment prong of its dual mandate. Indeed, as they celebrate a purported “mission accomplished” full employment recovery and confidently prepare to plow forward with an epochal pivot […]
Here is what’s holding back China’s plans for world domination
Here is what’s holding back China’s plans for world domination Australia may be the worlds largest exporter of coal, sending out 388 million tons in 2015, but China’s production of coal the same year was 3,747 million tons — nearly ten times as much, and nearly half of global coal production. But the Chinese coal […]
Without Recovery There Is Every Need To Examine The Worst Case
Without Recovery There Is Every Need To Examine The Worst Case There is a great deal that is wrong with mainstream economic commentary, starting with its unwavering devotion to orthodox economics and unshakable faith in their “stimulus.” No matter how little is actually stimulated there is never any doubt that the media will simultaneously forget […]
The Last 16 Times This Happened There Was A Recession…
The Last 16 Times This Happened There Was A Recession… Something has just happened that has signaled a recession every single time that it has occurred since World War I. 16 times since 1919 there have been at least 8 month-over-month declines in industrial production during the preceding 12 month period, and in each of […]
This is Where Industrial Production Normally Meets a Recession
This is Where Industrial Production Normally Meets a Recession The only exceptions were in the early 1950s Painful – that’s how you can describe the slew of recent US economic data. And today’s data dump was even worse. On a regional level, there was the Empire State Manufacturing Survey. The Current Activity Index plunged to the […]
Chinese Economic Outlook “Skewed Heavily To The Downside,” BNP Says
Chinese Economic Outlook “Skewed Heavily To The Downside,” BNP Says Over the past several months we’ve built on several narratives out of China certainly not the least of which is the idea that economic growth in the country is decelerating quickly at a time when accelerating capital outflows make devaluation an unpalatable (if inevitable) proposition. […]
China’s Vicious Growth Circle by Keyu Jin – Project Syndicate
China’s Vicious Growth Circle by Keyu Jin – Project Syndicate. LONDON – Most economists have a reason to be worried about China’s economy – whether it be low consumption and large external surpluses, industrial overcapacity, environmental degradation, or government interventions like capital controls or financial repression. What many fail to recognize is that these are […]
