US, Japan, France Hold First-Ever Joint Drills In Japanese Territory With Eye On China

US, Japan, France Hold First-Ever Joint Drills In Japanese Territory With Eye On China Authored by Dave DeCamp via AntiWar.com, The US, France, and Japan on Tuesday began joint ground and naval military exercises, marking the first time the three countries are holding drills together in Japanese territory. The week-long exercises come as the US is ...

Eurodollar University’s Making Sense; Episode 65; Part 2: Is Jay Powell Right?

65.2 The Fed is right about inflation (this time)———Part 2 Summary———US producer prices surged in the month of March. But Federal Reserve chairman Jay Powell said they won’t last, that they are “transitory”. HE IS RIGHT! But the reason he gives – the covo – is not correct. No, the reason is the same one since 2007: the global, silent depression. ———See It———–...

U.S. International Trade in Goods and Services, March 2021

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February, revised. U.S. International Trade in Goods and Services Deficit Deficit: $74.4 Billion +5.6%° Exports: $200.0 Billion +6.6%° Imports: $274.5 Billion +6.3%° Next release:...

Why US Retail Sales will Rock the Markets Friday

Why US Retail Sales will Rock the Markets Friday Daily FX Market Roundup 05.14.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Stocks rebounded sharply on Friday but the muted price action in currencies suggest that FX traders are not convinced the selling is over. The U.S. dollar gave back a small portion of yesterday’s gains against the Japanese Yen, Swiss Franc and New Zealand dollar, but was virtually...

Bull Markets 1970-01-01 00:00:00

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Friday: Retail Sales, Industrial Production

Friday:• At 8:30 AM ET, Retail sales for April is scheduled to be released.  The consensus is for 1.0% increase in retail sales.• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for April. The consensus is for a 1.2% increase in Industrial Production, and for Capacity Utilization to increase to 75.2%.• At 10:00 AM, University of Michigan's Consumer sentiment index (Preliminary for May).

The ‘Take This Job and Shove It’ Recession

So hey there Corporate America, the Fed and your neofeudal cronies: take this job and shove it. This time it really is different, but not in the way the Wall Street shucksters are claiming. Conventional economists, politicos and pundits are completely clueless about the unraveling that's gathering momentum beneath the superficial surface of "reflation" because they don't yet grasp we're entering an unprecedented new type of...

Commodities Corner: Lean Hogs Rally to Record High, Coffee Slips on Suez Canal Relief

Spilling a Cup of Cocoa   Cocoa futures ended the trading week below $2,400 per metric ton as demand concerns weighed on the agricultural commodity. Contracts are settling near their lowest levels since the beginning of November.   Cocoa’s direction is being mostly driven by the resurgence of coronavirus infections across Europe, a major market for the crop. As COVID-19 cases skyrocket, many jurisdictions are instituting new lockdowns...

China’s rust belt population plummeted in last decade, exacerbating regional economic divide

[unable to retrieve full-text content]This is the sixth in a series of stories about China’s once-a-decade census, which was conducted in 2020. The world’s most populous nation released its national demographic data on Tuesday, and the figures will have far-reaching social policy and economic implications.The exodus of people from China’s central region and north-eastern rust belt accelerated over the past decade, creating greater challenges...

13/5/21: BRIC Composite PMIs April 2021: Recovery Fragile, Inflation Heating Up

April PMIs for BRIC economies show continued strengthening in the recovery in China and Russia, moderation in the recovery momentum in India and deepening collapse in the recovery in Brazil.Since we are into the first month of the new quarter, there is not enough data to go about to meaningfully analyze quarterly dynamics. Hence, I am only looking at Composite PMIs:PMIs in April run stronger, compared to 1Q 2021 averages for Russia (Services...

New Health Care Insurance Subsidies in the USA

The $1.9 trillion covid19 relief law (American Rescue Plan Act) includes large increases in health insurance subsidies in addition to the $1,400 per person payments to individuals. The law increases subsidies for 2 years. Under the new law, nobody will have to pay more than 8.5% of their income on health insurance. The government will also pick up 100% of COBRA premiums through September. COBRA is health insurance for people who’ve lost...

Quick Update on Jeff

Hi, folks — this is Jeff’s son, Derek. I’ve had many eager readers reach out to ask why there’s been no WTWA the last few weeks. I thought I should fill y’all in. Jeff is in the hospital with a nasty case of pneumonia. The good news is that he has tested negative on repeated Covid tests, including an antibody test. Still, his doctors, Mrs. Oldprof, and myself are making sure that getting better is his sole focus for the near future....

Baby Boomer Employment – April 2021

[unable to retrieve full-text content] The 20th century Baby Boom was one of the most powerful demographic events in the history of the United States. We've created a series of charts to show seven age cohorts of the employed population from 1948 to the present.

The One Percent: Off With Their Heads!

Socialists promote policies that they claim will lead to greater income equality. History shows that most countries that have embraced socialism have achieved income equality: Almost everyone is poorer than before socialism was imposed on them for their own good. Purchasing power is depressed for most people, and the quality of the goods and services they can purchase is poorer too. Socialists often declare that the rich don't pay their “fair...

Trump Does Right On H-1B Reform

The Zeitgeist – May 7, 2021

Here’s what we’re reading and working on this week at Epsilon Theory. To receive a weekly full-text email of The Zeitgeist, please sign up here. It’s free, and your email will not be shared with anyone. Ever. Every item in this email is a discussion thread on the Epsilon Theory Forum – a safe space to speak your mind, a safe space to find like-minded truth-seekers. Watch from a distance if you like, but when you’re ready … join us....

Federal Open Market Committee announces approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy

Following an extensive review that included numerous public events across the country, the Federal Open Market Committee (FOMC) on Thursday announced the unanimous approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy, which articulates its approach to monetary policy and serves as the foundation for its policy actions. The updates reflect changes in the economy over the past decade and how policymakers are...

Beautiful Music…

You need an uplift? Take the time for this music video. Amazing what the world can do when we are together as one. This one goes out to CK. The world is pulling for you, girlfriend, and it won’t be long before you are sitting on your dock in a Nova Scotia bay. Eyes on the prize. [embedded content] Share this:Like this:Like Loading...

March JOLTS report confirms that month’s strong jobs report

- by New Deal democratThis morning’s JOLTS report for March confirmed that month’s stellar jobs report. Job openings made a new series high, while layoffs and discharges made a new series low. Hires, quits, and total separations all also moved in the right direction.This report has only a 20 year history, and so includes only two prior recoveries. In those recoveries: first, layoffs declinedsecond, hiring rosethird, job openings rose...

Trading a possible melt-up

Mid-week market update: Even as selected sentiment models and market internals scream for caution, the S&P 500 is on the verge of melting up as it tests overhead resistance as defined by a rising trend line. The melt-up condition would be confirmed if the index were to rally through the trend line, which it did on two other occasions in the past 12 months. In that case, the regular trading rulebook goes out the window.   The possible...

Finance, Money and Cow Clicking

Finance and its derivatives like financialization, are like many political economy categories: they’re a widely used term but lack an agreed-upon definition. One often encounters formulations like “financialization means the increasing role of financial motives, financial markets, financial actors and financial institutions.” That isn’t very helpful! Let me offer a simple definition of finance, which I think corresponds to its sense both for...

Soar Above Overconfidence To Fortify Your Wealth

Soar Above Hubris and Overconfidence To Fortify Your Wealth “Neither Bull nor Bear“ A growing deflationary hurricane is churning off the coast. At the same time, a massive inflationary warm front is surging toward us, threatening inflation like we have not seen in forty years.  As if forecasting future economic conditions was not tricky enough, both systems are being fueled in unknown ways by the convergence of historical amounts of monetary...

Long Lost Bond Vigilantes Sighted, Gives Dollar Fillip

Overview: It is as if the bond vigilantes were pushed too far.  US inflation is accelerating more than expected, and it cannot all be attributed to the base effect, and the Federal Reserve, to many investors, is tone-deaf.  With powerful fiscal stimulus, nominal growth above 10%, and the economy re-opening, albeit unevenly, does the monetary accelerator need to be fully engaged?  The US 10-year yield jumped, providing a nice concession at the...

Mish's Talk 1970-01-01 00:00:00

Maven is a best-in-class technology platform empowering premium publishers who impact, inform, educate and entertain.We operate the media businesses for Sports Illustrated and TheStreet, and power over 140 brands including History, Maxim, and Biography. Maven is publicly traded under the ticker symbol MVEN.

2:00PM Water Cooler 5/11/2021

By Lambert Strether of Corrente. Bird Song of the Day * * * #COVID19 At reader request, I’ve added this daily chart from 91-DIVOC. The data is the Johns Hopkins CSSE data. Here is the site. I feel I’m engaging in a macabre form of tape-watching. All the charts are becoming dull — approaching nominal, if you accept the “new normal” of cases, for example. Vaccination by region: “Many police officers spurn coronavirus vaccines as departments...

Join us at The Daily Shot

Please join us at The Daily Shot.The Daily Shot® (TheDailyShot.com) is a niche graphical newsletter (see sample) that is not meant for broad distribution. Our objective is to work with a small group of professionals who are interested in a brief unbiased daily overview of global macro currents. We do not offer investment advice or trading recommendations, and nothing in The Daily Shot® should be interpreted as such.The Daily Shot® began as an...

Peak oil is coming, it’s just a question of when: Fuel for Thought

October marks a historic but largely forgotten moment in the history of the oil sector, and something which is unlikely to ever be repeated if forecasts for the demise of the world’s most valuable fossil fuel prove accurate. Fifty years ago, BP – then known as British Petroleum and state-owned – discovered oil off the coast of Scotland in the once mighty Forties field with the help of a GBP370 million loan. The financing would be equivalent to...

How Long Will ‘Transitory’ Inflation Last?

The US Consumer Price Index surged in April, topping estimates by a wide margin. The question is whether this is the start of an inflationary wave or just the latest run of noise? Reliably answering that question will take several months at the least, but if we ignore that caveat the numbers for last month certainly look worrisome. Let’s start with core CPI, which strips out the food and energy noise, a filter that helps identify the...

Here’s What is Happening in the Economy Right Now

[embedded content]Jordan Roy-Byrne: Welcome back to The Atlas Investor podcast with Tiho Brkan. Thank you so much for tuning in today for episode number 22, Tiho, and in this episode, I know you want to cover the global economic situation and what’s going on. Please tell us why you think it’s important to cover that right now.Tiho Brkan: Hello, everybody. Hello, Jordan. I hope you’re doing well. Thank you for having me on for another podcast....

US, Japan, France Hold First-Ever Joint Drills In Japanese Territory With Eye On China

US, Japan, France Hold First-Ever Joint Drills In Japanese Territory With Eye On China Authored by Dave DeCamp via AntiWar.com, The US, France, and Japan on Tuesday began joint ground and naval military exercises, marking the first time the three countries are holding drills together in Japanese territory. The week-long exercises come as the US is ...