dollar

Economy Turns Down: Commodity And Producer Prices Like Labor

By |2019-10-07T17:27:39-05:00October 7th, 2019|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It wasn’t just you, me, and common sense which were puzzled by the labor shortage of 2018. In his first few months on the job, Federal Reserve Chairman Jay Powell would reference the unemployment rate quite often in setting his view of the economy’s trajectory. As it fell lower and lower, it spiked his expectations [...]

China Throws More ‘Stimulus’ At The Wall

By |2019-08-27T12:31:19-05:00August 27th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Earlier this year, Chinese authorities reduced the VAT tax the government charges auto manufacturers. Intended to boost consumption, the levy was reduced from 16% to 13% in the hope automakers would pass along the savings to consumers. Many if not most manufacturers did. The results were immediate, and fleeting. In the month of March 2019, [...]

China’s Superplan; Or, The Familiar (Dollar) Disorder of Bumbling Failure

By |2019-08-20T12:06:39-05:00August 20th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Always aspiring to technocratic greatness, China’s Communist Party is set up to run like clockwork. It’s supposed to go off in predestined fashion, a course programmed into the vast apparatus by highly proficient experts. It is, or is supposed to be, comforting that order and control over the complex main spheres of daily life can [...]

Why You Should Care Argentina More and More Looks Like Argentina

By |2019-08-13T18:01:01-05:00August 13th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Why don’t you fight the Fed? Sure, central banks and governments give off the impression that they are in control. The idea is repeated as if a fact. We are led to believe they let markets play around in their contained spheres but should anyone get out of hand authorities are there like referees to [...]

The Real Power Behind Currency Wars

By |2019-08-06T16:28:08-05:00August 6th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s another one of those things that just blows up the whole convention, another pretty clear sign that the mainstream has it all backward. We are seeing it play out right now with China. The Chinese are being accused of unfair currency manipulation, the sort of “competitive devaluation” that fills whole chapters in the Keynesian [...]

Chart(s) of the Week: You Were Saying Rate Cut?

By |2019-08-02T16:48:31-05:00August 2nd, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

We’ve got repo, erratic federal funds market, German 2s correlated with it, plunging bond yields, angry swaps (IR and FX), and economic data increasingly and more speedily in the wrong direction. Overseas official entities piled even more into the foreign repo pool, their payments dollar buffer, another definitive sign of a much more acute dollar [...]

There’s Dollar In The Rate Cut, But Not Nearly Enough Dollar

By |2019-07-31T16:54:04-05:00July 31st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The insurance rate cut has been issued. Telling the assembled members of the press this is nothing more than a “mid-cycle adjustment”, Chairman Powell was cautious not to betray too much concern. The first rule of central banking is not to make anything worse. Subprime must always be contained. Yet, he has the unenviable task [...]

Not A Paradox Nor A Conundrum: TICked at Powell

By |2019-07-17T17:04:15-05:00July 17th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It seems a paradox, at least like it is backwards. The financial media doesn’t help because good editorial standards rely upon the opinions and beliefs of credentialed people who have no idea what they are talking about. If you hold high office in some central bank, we are to assume you are competent about monetary [...]

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