EMerging Equity
Slowdown
Proving Yet Again That Global Weakness Starts In The U.S.
By Jeffrey P. Snider, Alhambra Investment Partners When commenting on any weakness in the US economy, it has become common even shorthand for any outlet or author to affix the conventional explanation. Suspiciously low growth rates and far too many outright contractions, especially in manufacturing and industry, are blamed on overseas weakness and the dollar as … Continue reading
Focused On The Wrong End Of Oil
By Jeffrey P. Snider The front end of the oil price complex continues to get all the attention because it seems to further the more optimistic narrative. It is the back end, however, that is most significant. The nearer maturities of the futures curve reflect more the funding environment than the fundamental view of oil and … Continue reading
The Fed Is Just As Wrong Today As It Was In 1937
By Jeffrey P. Snider, Alhambra Investment Partners There is great allure in comparing our current economic circumstances to those in 1937, and why wouldn’t there be? The associations are especially striking, starting with the gaping hole left over by each contraction. Each recovery, then and now, was at least moving in the right direction but not … Continue reading
Revisions To U.S. Industrial Production Show, Unsurprisingly, Much Less Recovery And Even More Recession
By Jeffrey P. Snider, Alhambra Investment Partners US industrial production fell yet again in March to (benchmark revised) -2% year-over-year. With updated revisions, the contraction in IP now extends seven months rather than what would have been just five under the prior assumptions. As anticipated yesterday, auto production was a leading factor in the retreat. The … Continue reading
U.S. Economy 2016: 3 Classic Recession Signals Are Flashing Red
By Michael Snyder Those that were hoping for an “economic renaissance” in the United States got some more bad news this week. It turns out that the U.S. economy is in significantly worse shape than the experts were projecting. Retail sales unexpectedly declined in March, total business sales have fallen again, and the inventory to … Continue reading
Secular Stagnation Would Be The Best Case, But It’s Not Even Realistic
By Jeffrey P. Snider, Alhambra Investment Partners The IMF released the first 2016 edition of its World Economic Outlook (WEO). Titled Too Slow For Too Long, it seems as if the institution has finally caught on to the fact that the global recovery never really was a recovery. Throughout the report you get the sense that they … Continue reading
Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic
By Michael Snyder Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now. For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last … Continue reading
Japan Desperately Needs A Stronger Dollar, China Desperately Wants A Weaker Dollar: The Fed Can’t Please Both
By Charles Hugh Smith The FX market is about to blow up in the Fed’s face, and there’s nothing they can do about it. Foreign exchange (FX) is a zero-sum game: if one currency weakens, another must strengthen. Since the value of a currency is relative to other currencies, all currencies can’t weaken together: at least … Continue reading
China To Invest Nearly $1 Trillion In 2016 On Infrastructure, High-Tech Research And Development
Beijing is set to invest over 6 trillion yuan ($926.6 billion) this year in the country’s high-tech research and development, as well as infrastructure development, including railway, fixed assets, water conservancy projects, local media reported on Thursday. The aim is to help develop sectors such as transportation, environment protection, urban planning, and tourism. Fixed asset investment … Continue reading
More Troubles May Lie Ahead For Nigeria As MSCI Weighs Removal From Index
More troubles may lie ahead for Nigeria, Africa’s largest economy, as global equity index provider MSCI is considering dropping the nation from its benchmark Frontier Markets Index, which could put $500 million of equity investment under threat. On Thursday MSCI announced that it’s considering removing the country from its Frontier Markets Index, blaming currency restrictions imposed by … Continue reading
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