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SNB & CHF

Euro area : What if car tariffs lie ahead ?

New US auto tariffs may impact the economy significantly more than the previous tariffs on steel and aluminium. Among the key risks for our euro area outlook, the threat of US auto tariffs is of major importance. The US Commerce Department’s investigation on national security threats posed by auto imports is due to be concluded on 17 February. Given the complexity of the global auto supply chain, it is very complicated...

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Swiss unemployment rate rises

© Gunnar3000 | Dreamstime.com There are various ways to measure unemployment. Switzerland’s standard measure looks at the number of people registered with unemployment offices across the country. By this measure Switzerland’s unemployment recently reached a 10 year low of 2.6%. Today, another unemployment measure was published. It shows a 0.1% increase in unemployment over the fourth quarter of 2018 to 4.6% or 227,000...

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Inflation Falls Again, Dot-com-like

US inflation in January 2019 was, according to the CPI, the lowest in years. At just 1.55% year-over-year, the index hadn’t suggested this level since September 2016 right at the outset of what would become Reflation #3. Having hyped expectations over that interim, US policymakers now have to face the repercussions of unwinding the hysteria. CPI Changes On Energy 2016-2019 - Click to enlarge Live by oil, now die by...

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SpokenTome Audiobooks: Charles Hugh Smith Episode 2

SpokenTome.Media's Mark E. Jeftovic catches up with Charles Hugh Smith. Topics ranged from PropOrNot's anonymous, unsourced hit piece on ...pretty well everybody, to populism, Yellow Vests, so-called "Democratic Socialism" and a new unicorn farm called "MMT". Since our last episode we've released three more CHS audiobooks.

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flight shaming

Young Swedish activist Greta Thunberg and the thousands of young Swiss who are striking for the climate have drawn the public’s attention to air traffic pollution. More and more people are deciding not to fly anymore and some Swiss universities are issuing rules on flights for business and study trips. The phenomenon has been called “flight shame”, from the Swedish “flygskam”, which was on the list of Swedish neologisms for 2018. Here we explain “flight...

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flight shaming

Young Swedish activist Greta Thunberg and the thousands of young Swiss who are striking for the climate have drawn the public’s attention to air traffic pollution. More and more people are deciding not to fly anymore and some Swiss universities are issuing rules on flights for business and study trips. The phenomenon has been called “flight shame”, from the Swedish “flygskam”, which was on the list of Swedish neologisms for 2018. Here we explain “flight shame” and get a personal confession...

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FX Daily, February 15: Equities Stall While Greenback Remains Firm

Swiss Franc The Euro has fallen by 0.10% at 1.1336 EUR/CHF and USD/CHF, February 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The S&P 500 snapped a four-day advance yesterday, and equities in the Asia Pacific followed suit. All the markets in the region were lower but in Australia. MSCI’s regional benchmark stalled after reached a four-month high in the...

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Swiss Labour Force Survey in 4th quarter 2018: 0.8percent increase in number of employed persons; unemployment rate based on ILO definition at 4.6percent

14.02.2019 – The number of employed persons in Switzerland rose by 0.8% between the 4th quarter 2017 and the 4th quarter 2018. During the same period, the unemployment rate as defined by the International Labour Organisation (ILO) increased slightly by 0.1 percentage points to 4.6%. The EU’s unemployment rate decreased from 7.3% to 6.6%. These are some of the results from the Swiss Labour Force Survey (SLFS). Download...

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Pressure mounts on Swiss commodity traders in Brazil corruption probe

Brazilian prosecutors alleged Vitol, Glencore and Trafigura and others collectively paid at least $31 million in bribes over a six-year period to Petrobras officials. (Keystone) Pressure is growing on global commodity trading firms with strong ties to Switzerland for their alleged involvement in the “Car Wash” corruption scandal in Brazil. The US Federal Bureau of Investigation is investigating two Vitol executives in...

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What Caused the Recession of 2019-2021?

The banquet of consequences is now being served, but the good seats have all been taken. As I discussed in We’re Overdue for a Sell-Everything/No-Fed-Rescue Recession, recessions have a proximate cause and a structural cause. The proximate cause is often a spike in energy costs (1973, 1990) or a financial crisis triggered by excesses of speculation and debt (2000 and 2008) or inflation (1980). Structural causes are...

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