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economic growth
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
Turkey’s New Central Bank Governor Must Walk Political Minefield
By Iain MacGillivray Turkey’s former Central Bank Governor Erdem Başçi has bowed out from his position after five years in the job, leaving behind an interesting financial legacy amid growing political pressure from the ruling government. While Başçi managed to keep the Palace at bay and interference minimal, the appointment of his successor Murat Çetinkaya, a … Continue reading
The Race To The Bottom Will Reignite Gold
By Jason Simpkins Six of the world’s central banks (Europe, Denmark, Sweden, Switzerland, Japan, and Hungary) representing 29 countries have taken interest rates negative. They range from -0.05% in Hungary to -1.25% basis points in Sweden. As a result, other countries, plagued by the same low commodities prices and a soft global economy, are now … Continue reading
Does Argentina’s Return To The Capital Markets Signal Change?
By Luis E. Juvinao Navarro Argentina recently issued USD $16.5 billion in bonds as part of its re-entry to international markets, the largest issuance registered by an emerging economy. The country’s historical proclivity to economic turmoil, however, suggests that Macri’s political changes might not deliver on financial stability. It has been 15 years of Argentine absence from … Continue reading
The Importance Of China’s New VAT
By Marc Chandler, Marc to Market Blog Yesterday, China announced one of the most important tax reforms of the past twenty years. It is replacing a business tax on gross revenue for non-manufacturing companies with a VAT. Manufacturing companies have been subject to a VAT approach for a few years. The reform extends it from manufacturing … Continue reading
Where It All Went Wrong: The U.S. ‘Recovery’ Is Hollow, The Fed’s Growth Narrative Is False
By Jeffrey P. Snider, Alhambra Investment Partners With the housing recovery, it is perhaps because it has been much more visible and earnest that the disparity is more easily appreciated and understood. Prices have surged in some places as much as the housing mania portion of the great bubble of the 2000’s, yet that has taken … Continue reading
Copper Proves A Rocky Road For Zambia
By John Filitz The town of Luanshya, situated on Zambia’s copperbelt, serves as a bellwether for the country’s economy. However, political developments in Zambia are causing significant uncertainties in the copper industry. With a sustained annual GDP growth rate above 6%, driven primarily by copper, the past decade has been tumultuous for Luanshya. Founded as … Continue reading
Chinese Dragon: Breathing Credit Fumes
By Eugen von Böhm-Bawerk Economic forecasting, no matter how complex the underlying model may be, is essentially about extrapolating historical trends. We showed last week how economic models completely fail to pick up on structural shifts using Japan as an example. On the other hand, if an economy doesn’t really change much, as in the case … Continue reading
Latin America’s Economy — Why This Is No Time For Complacency
By Eric Parrado A young Augustine, before becoming a Saint, lived a hedonistic lifestyle. But one day he received a message from God – asking him to convert from that type of life. So he prayed to God: “Lord, grant me chastity and continence …but not yet.” Many times governments behave like St. Augustine as they … Continue reading
What U.S. Economic Recovery? — 1 Out Of Every 5 Households Have No Job
By Michael Snyder If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last … Continue reading
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