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rose98734 (63)in #economy • 12 hours ago
Gold starts to make new highs
Here's the chart: source Gold priced in dollars is at it's highest level since the US came off the Bretton Woods standard (which maintained a peg with gold) in 1973. It's…
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rose98734 (63)in #economy • 9 days ago
Argentina's plan to dollarize the economy
So Argentina has elected a new President; the chain-saw wielding Javier Milei. Argentina has been suffering inflation of over 125% and the Argentinian peso is almost worthless.…
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rose98734 (63)in #economy • 16 days ago
The debasement of the dollar
Take a look at this. This is how the US dollar bill has changed in the last century: source This is not unusual by the way. This is what happened to coins in the Roman…
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rose98734 (63)in #economy • 19 days ago
In dollar terms, the Chinese economy is shrinking
Here is the graph in nominal dollar terms: source A part of this is simply caused by the Chinese yuan devaluing against the US dollar (which has been happening all…
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rose98734 (63)in #economy • 25 days ago
The cost of insuring US govt debt spikes
Here is the chart: source There are two triggers for this. First, the US 30-year bond auction last Thursday went badly. 24% of it was left with the primary dealers…
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rose98734 (63)in #economy • 28 days ago
Amazon is eating Walmart's lunch
Here is a chart for sales revenue, comparing Amazon to Walmart, from the time Amazon was founded: source Walmart is only slightly ahead of Amazon. But even as recently as…
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rose98734 (63)in #economy • last month
Japan ends yield curve control
For the last couple of decades, Japan has practised yield-curve control, where the Bank of Japan intervened in the bond markets to ensure the 10-year Japanese bond yield was no…
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rose98734 (63)in #economy • last month
Foreign direct investment into China plunges
Here is the chart: source Two things are going on: American businesses are no longer opening new factories in China. Instead they're diversifying into Vietnam…
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rose98734 (63)in #economy • last month
What is happening at Lukoil?
Lukoil is a giant Russian oil and gas company, second only to Gazprom (who used to supply natural gas to Germany before their pipelines got blown up by Ukraine). Lukoil has…
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rose98734 (63)in #economy • last month
The European Central Bank is doing selective QE
In theory at least, the European Central Bank has stopped doing QE and has started doing QT (Quantitative Tightening), where it sells it's assets and destroys the money to reduce…
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rose98734 (63)in #economy • 2 months ago
Italy's budget deficit is now worse than during the Pandemic
The pandemic was a difficult time for most countries because government spending was up sharply but tax revenues were down due to lockdowns. Since lockdowns ended and economies…
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rose98734 (63)in #economy • 2 months ago
US mortgage rates top 8%
They're the highest in 23 years. You have to go back to the last year of Clinton's administration for rates this high. Here's the chart: source The Mortgage Bankers…
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rose98734 (63)in #economy • 2 months ago
The Federal Reserve's Balance Sheet drops to below $8 trillion
As everyone is aware, the Federal Reserve is trying to unwind QE by selling the bonds it has in it's portfolio and destroying the cash it receives. In this way it shrinks the…
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rose98734 (63)in #economy • 2 months ago
The drop in bond prices over the last three years
...has been 15%. Here is the chart: source If it just affected Bond ETFs, everyone would simply shrug. After all, you have to expect to take losses from time to time when…
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rose98734 (63)in #economy • 2 months ago
Some people are blaming Biden for the surge in US bond yields
Last Tuesday, President Biden showed up to a United Auto Workers (UAW) picket line to lend them support, and this is what happened to bond yields: source UAW folk are not…
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rose98734 (63)in #economy • 2 months ago
7 stocks account for most of the rise in the S&P500 Index in 2023
These seven stocks have been dubbed the "Magnificent Seven". The stocks are Microsoft, Alphabet, Meta, Apple, Nvidia, Tesla and Amazon. Here is a graph separating out the…
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rose98734 (63)in #economy • 2 months ago
US 10-year yields rise to the highest since 2007
Despite the Fed pausing interest rate rises last week, the sell-off in the bond market's has continued. The 10-year yield is now 4.49%. This means investors think interest rates…
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rose98734 (63)in #economy • 3 months ago
Companies can no longer afford share buybacks
According to the Financial Times, share buybacks are down 20% from last year. Here's the graph: source So what's going on? Those companies who were borrowing at 0.25%…
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rose98734 (63)in #economy • 3 months ago
Inflation compounds...
Here is the Federal Reserve's graph of the Consumer Price Index since 1984: source Notice how steeply it drops after 2020. That's because inflation compounds.…
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rose98734 (63)in #economy • 3 months ago
US student loan repayments will recommence in October
Student loan repayments in the USA were paused three years ago during the pandemic, with President Biden promising to write off the $441 billion debt outstanding. However the…
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rose98734 (63)