Tuesday , April 20 2021
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Tag Archives: Global Economics

The UK Considers a New Central Bank Digital Currency, What Happens to Cash?

Future Proofing?!About a year ago the Bank of England released a paper on the Opportunities, Challenges, and Design of Central Bank Digital Currencies.Today, the Financial Times reports UK Considers Creating Central Bank Digital Currency. The Financial Times commented the "Aim would be to future proof sterling against cryptocurrencies and improve the payments system"The idea that one can future proof fiat currencies against anything is of course ludicrous.Britcoin?!Reuters asks ‘Britcoin’...

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An Amusing Look at Brexit Scare Stories vs What Actually Happened

The phrase "early days" should apply before crowing.... Official UK figures in March showed the UK recorded a record fall in trade with the EU in January, as the economy struggled with post-Brexit rules and the pandemic. Goods exports plunged by 41% and imports by 29% as the UK's departure from the EU's single market had a major impact, as did additional bureaucracy and sometimes unexpected costs and taxes. Nearly a quarter of small UK firms surveyed said they had temporarily halted sales...

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“Give It to Me Straight, Doc” Bill Maher Blasts the Leftist Media on Covid-19 Propaganda

Tired of Covid-19 Politics? So am I, and so is comedian Bill Maher.Video DiscussionMaher accurately pointed out governor Ron DeSantis of Florida did a far better job of protecting the elderly than New York governor Andrew Cuomo, an alleged hero who faces impeachment over covid-19 lies and coverups.When blasting Cuomo, Maher gave one of his best lines "Those are just facts. I know it is irresponsible for me to say them."Dr. Fauci did not help with his ignorance and lies in which he went from...

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A Welcome Thaw in Nuclear Talks With Iran Now Includes Saudi Arabia

Signs of a ThawBloomberg reports Signs of Thaw on Iran Nuclear Deal.Jake Sullivan, United States National Security Adviser, told Fox News on Sunday “the talks in Vienna have been constructive in the sense that there is real effort underway there” and that world powers were focused on restoring the agreement on a “compliance for compliance” basis. His comments come after Iran’s lead negotiator, Deputy Foreign Minister Abbas Araghchi, injected fresh hope into the process on Saturday, by saying...

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Obama’s Chief Energy Scientist Disputes the Climate Change Propaganda Peddlers

Beyond the HypePlease consider the Wall Street Journal report How a Physicist Became a Climate Truth TellerBarack Obama is one of many who have declared an “epistemological crisis,” in which our society is losing its handle on something called truth. Thus an interesting experiment will be his and other Democrats’ response to a book by Steven Koonin, who was chief scientist of the Obama Energy Department. Mr. Koonin argues not against current climate science but that what the media and...

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Biden Has a No-Win Position in Afghanistan No Matter What He does

Biden's Decision Has No One HappyPresident Biden pledged to leave Afghanistan by the end of the year. That is not soon enough for most but not all of the Left, and too soon for most if not all of the Right.Regrets Coming?The National Review reports Biden May Regret His Afghanistan DecisionI find the use of the term “forever war” to refer to Afghanistan disingenuous, as the state of U.S. troops over there cannot accurately be described as a war, particularly in the past year or two. There are...

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Yellen Struggles to Rebuild Currency Manipulation Credibility, Why Bother?

Currency Manipulation Criteria Persistent, one-sided intervention in the foreign exchange market occurs when net purchases of foreign currency are conducted repeatedly, in at least 6 out of 12 months, and these net purchases total at least 2% of an economy’s gross domestic product (GDP) over a 12-month period.A material current account surplus is one that is at least 2% of GDP over a 12-month period.A significant bilateral trade surplus with the United States is one that is at least $20...

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Housing is Going Gangbusters, Thank Covid-19 and the Fed

Homebuilders the Biggest BeneficiaryHomebuilders remain the biggest beneficiary of Covid-19 thanks to the Fed's reaction to it. Housing starts, permits, and completions crashed in the initial months of the pandemic, but the Fed goosed housing with a commitment to hold interest rates low until they spot their measure of inflation.The Census Bureau's New Residential Construction Report highlights the details. Building Permits Privately-owned housing units authorized by building permits in March...

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Biden to Cap Refugee Admissions at Record Low 15,000 But Ease Trump Restrictions

Same "Refugee" Cap Different RestrictionsBiden will maintain a 15,000 Cap on Refugees but is slated to Sign an Executive Order Easing Trump Restrictions.The executive order will lift requirements that refugees coming under the 15,000 cap fall under one of several categories, including Iraqis who aided the American military, Central Americans and people fleeing religious discrimination.It will revert to the previous system, in place from the refugee program’s creation through 2019, that...

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What’s Ahead For Year-Over-Year Consumer Price Inflation?

3.4% Year-Over-Year Coming UpMy expectation is primarily based on easy year-over-year comparisons plus smaller increases in some key indexes. If the price of energy moderates, then things will likely turn lower. Shelter, not energy, is the key component and I strongly disagree with the BLS methodology of using rent instead of home prices. For discussion of what the CPI would look like if actual home prices were used, please see Hello Fed, Inflation is Rampant and Obvious, Why Can't You See...

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