charleshughsmith.blogspot.com / CHARLES HUGH SMITH / FRIDAY, APRIL 21, 2017
We’ve been persuaded that the state-cartel Plantation Economy is “capitalist,” but it isn’t. It’s a rentier skimming machine. I have often discussed the manner in which the U.S. economy is a Plantation Economy, meaning it has a built-in financial hierarchy with corporations at the […]
mises.org / David Gordon / April 21, 2017
Sebastian Mallaby is the Paul A. Volcker Senior Fellow for International Economic Relations at the Council on Foreign Relations. One can be sure, then, that his new comprehensive book, The Man Who Knew: The Life and Times of Alan Greenspan, reflects an Establishment point of view. […]
wolfstreet.com / by Wolf Richter / Apr 20, 2017
Railroads slash capital spending, and CSX digs deeper, after two years of Freight Recession.
CSX reported quarterly earnings on Wednesday. Revenues increased 9.5% from the terrible quarter a year ago, which had been the worst quarter in terms of revenues since Q1 2010! So it’s […]
armstrongeconomics.com / by Martin Armstrong / Apr 20, 2017
One of the greatest monetary experiments in financial history has been the global central bank buying of government debt. This has been touted as a form of “money printing” that was supposed to produce hyperinflation. That never materialized as predicted by the perpetual pessimists. Nevertheless, […]
charleshughsmith.blogspot.com / CHARLES HUGH SMITH / TUESDAY, APRIL 18, 2017
Clinging to magical-thinking fixes that change nothing on the fundamental level hastens collapse. Here we stand on the precipice, and all we have in our kit is a collection of delusional magical thinking that we label “solutions.” We are not just morally and financially […]
mises.org / Jeff Deist / April 18, 2017
Today is Tax Day in America. When April 15th happens to fall on a weekend, the IRS generously permits us to extend the filing ritual until the following Monday. But since Monday was a holiday in the District of Columbia known (without irony) as Emancipation Day, […]
news.goldseek.com / By Plunger / Tuesday, 18 April 2017
Is the Economy at the cusp of the next recession? or maybe worse?
Part II takes a look at the macro economic backdrop for the trade of the year. Spoiler alert- its not a pretty picture, but don’t think doom and gloom, instead embrace crisis and […]
charleshughsmith.blogspot.com / CHARLES HUGH SMITH / MONDAY, APRIL 17, 2017
The Left is morally and fiscally bankrupt, devoid of coherent solutions, and corrupted by its embrace of the Corporatocracy. History often surprises us with unexpected ironies. For the past century, the slide to fascism could be found on the Right (conservative, populist, nationalist political […]
acting-man.com / MN Gordon / April 17, 2017
Behind the Curve
Economic nonsense comes a dime a dozen. For example, Federal Reserve Chair Janet Yellen “think(s) we have a healthy economy now.” She even told the University of Michigan’s Ford School of Public Policy so earlier this week. Does she know what she’s talking […]
mises.org / Ron Paul / April 17
Audit the Fed recently took a step closer to becoming law, when it was favorably reported by the House Committee on Oversight and Government Reform. This means the House could vote on the bill at any time. The bill passed by voice vote without any objections, although […]
zerohedge.com / by Tyler Durden / Apr 17, 2017
Following Sunday night’s resumption of trade after a three-day weekend, which saw sharp moves lower in US yields, the dollar and the USDJPY after Friday’s disappointing CPI and retail sales data and the weekend’s North Korea jitters, the mood has stabilized in light trading […]
gainspainscapital.com / Graham Summers / April 17, 2017
The economy is now in VERY serious trouble.
The Fed’s own GDP models now show 1Q17 growth tracking at just 0.5%. This is DOWN from an original forecast of 3.2% in February. Put another way, the economy has begun contracting at a RAPID pace.
mishtalk.com / Mike “Mish” Shedlock / April 17, 2017
If you believe in economic data from China (no knowledgeable person does) then you will likely accept as fact this Reuters headline: China first-quarter GDP grows faster than expected 6.9 percent.
China’s economy grew 6.9 percent in the first quarter from a year earlier, […]
zerohedge.com / by Tyler Durden / Apr 13, 2017
Over the weekend, New River CIO Eric Peters had a simple and concise summary for events over the past year: “Pretty much everything that happened in 2016 can be explained by two things; China and oil prices,” he said. “Literally, that’s it.”
Today, thanks to […]
goldstockbull.com / By Jason Hamlin / April 12th, 2017
President Trump said on Wednesday that the dollar was “getting too strong” and would eventually hurt the U.S. economy, while admitting he would like to see interest rates stay low.
“I think our dollar is getting too strong, and partially that’s my fault because people […]
charleshughsmith.blogspot.com / CHARLES HUGH SMITH / TUESDAY, APRIL 11, 2017
Where’s the growth going to come from as the dominant generation makes less, borrows less, spends less, saves more and turns away from long commutes, malls and suburban living and abandons the worship of private vehicles? If anything defined the postwar economy between 1946 […]
mishtalk.com / Mike “Mish” Shedlock / April 12, 2017
With the Fed having hiked thrice and calling for three more hikes still, the 2017 Hoisington First Quarter Review contains a call that will have many if not most analysts shaking their heads: “The secular low in bond yields remains in the future, not the […]
mises.org / Mark Brandly / April 11, 2017
As a presidential candidate, Donald Trump promised to renegotiate international trade agreements such as NAFTA and to withdraw from the Trans-Pacific Partnership. While Trump’s views on international trade are murky, two things seem clear.
One: Trump is in favor of trade deals that halt the migration […]
trueeconomics.blogspot.com / by Constantin Gurdgiev / Tuesday, April 11, 2017
In two previous posts, I have covered the 1Q 2017 data for Manufacturing PMIs and Services PMIs for BRIC economies. Both indicators provided little hope that world’s largest emerging economies are generating a positive growth momentum consistent with stronger global economic growth.
The same […]
zerohedge.com / by Tyler Durden / Apr 10, 2017
In this holiday-shortened week (markets closed for Good Friday), focus turns to several inflation prints in G10 in the week ahead, with US and UK inflation data likely to get the most attention. In addition, there are a few scheduled speaking engagements by Fed officials, […]
Jes Staley, Barclays CEO
wallstreetonparade.com / By Pam Martens and Russ Martens / April 10, 2017
It is not a promising development for changing the culture of Wall Street when today’s newswires are reporting the sordid details of how the big Wall Street player, Barclays, engaged U.S. law enforcement in an attempt to hunt […]
trueeconomics.blogspot.com / by Constantin Gurdgiev / Monday, April 10, 2017
1Q 2017 PMIs for Manufacturing are painting a mixed picture for the world’s largest emerging economies, the BRIC group.
Brazil’s Manufacturing PMIs averaged 46.8 in 1Q 2017, compared to 45.9 in 4Q 2016 and 46.0 in 1Q 2016. All in, 1Q 2017 marked 12th […]
wolfstreet.com / by Wolf Richter / Apr 8, 2017
But don’t blame the oil bust.
Commercial bankruptcy filings, from corporations to sole proprietorships, spiked 28% in March from February, the largest month-to-month move in the data series of the American Bankruptcy Institute going back to 2012. They’re up 8% year-over-year. Over the past 24 […]
gata.org / From the Daily Sabah, Istanbul / Sunday, April 2, 2017
Turkey’s deputy prime minister, Mehmet Şimşek, announced that the government will add two new secure investment tools to the financial system — gold-denominated bonds (sovereign gold bonds) and lease certificates (sukuk) denominated in gold in order to bring under-the-mattress gold into the […]
zerohedge.com / by Tyler Durden / Apr 4, 2017
As discussed earlier, Jamie Dimon’s annual letter this year was a departure from his usual optimistic sermons about the state of nation, dedicating an entire section in the 45 page letter to describe that “something is wrong” with the US. And of all the items […]