Reflation Rollover Japan
I was going to write that there was bad news out of Japan last night, but is there really any other kind? I know that from time to time Japan’s various rebounds over the years [...]
What’s Hot Isn’t Retail Sales Growth
Americans are spending more on filling up. A lot more. According the Census Bureau, retail sales at gasoline stations had increased by nearly 20% year-over-year (unadjusted) in both May and June 2018. In the latest [...]
Monthly Macro Monitor – August 2018
The Q2 GDP report (+4.1% from the previous quarter, annualized) was heralded by the administration as a great achievement and certainly putting a 4 handle on quarter to quarter growth has been rare this cycle, [...]
On Which Side Is HKD?
In early March, the CEO of Hong Kong’s Monetary Authority (HKMA) Norman Chan issued a press release claiming among other things his quasi-central bank had more than enough reserves to defend the lower edge of [...]
Collateral Silos And The Deflationary Gold Rush
It was never really all that much. The best that might have been said was that it was a pause in the building of renewed deflationary pressures. The dollar had “risen” again especially in April [...]
Pure Corruption
In December 1999, Princeton Professor Ben S. Bernanke wrote a relatively obscure paper largely denouncing the Bank of Japan’s shyness. Japan’s economy had by then been mired in its first Lost Decade, one which at [...]
Ugly China’s American Mirror
Yesterday, we spotlighted Brazil’s economy as perhaps a leading indicator for where things stand. Today, it’s China’s turn. Neither are very encouraging. Both offer instead only growing concern. The reason isn’t just the possibility of [...]
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