SNB & CHF

"This might be one of the biggest downward revisions I have ever observed," says Jeff Snider. The benchmark revision to Real Personal Income ERASED billions of dollars in presumed earnings from US workers since 2015, and especially in 2020 to 2021. "Truly stunning." -----SEE EPISODE 94------- Alhambra YouTube: https://bit.ly/2Xp3roy Emil YouTube: https://bit.ly/310yisL -----HEAR EPISODE 94----- Vurbl: https://bit.ly/3rq4dPn Apple: https://apple.co/3czMcWN Deezer:...

© Andrey Popov | Dreamstime.com Recent analysis of data done in the Swiss canton of Vaud found rate of Covid-19 was 83 times higher among the unvaccinated than those who had received two shots of vaccine, reported RTS. During the last two weeks of July 2021, the rate of infection among the vaccinated population was 2.6 per 100,000 compared to 216 per 100,000 among the unvaccinated population, 83 times greater. Vaccinated people were defined as those who had received...

Most commentators’ regard savings as harmful to economic growth on the ground that savings are associated with fewer outlays. These commentators portray economic activity as a circular flow of money. Spending by one individual becomes part of the earnings of another individual, and spending by another individual becomes part of the first individual’s earnings. If for whatever reason people become less confident about the future, it is held that they are likely to cut...

Previously, we discussed Modern Monetary Theory (MMT) and its one limitation of inflation. However, as is always the case when “theories” collide with “reality,” the tenants of the theory are quickly discarded. There is no doubt that since 2020 both Republicans and Democrats alike have shunned fiscal responsibility for the short-term gratification of MMT. Ms. Kelton tweeted such earlier this year. The writing is hilariously on the wall here, but people want to...

© Swisshippo | Dreamstime.com During July 2021, around 5% to 10% of long-haul passengers, many in transit, were unable to depart from Zurich airport because their Covid-19 documents did not comply with destination country regulations, reported the newspaper Le Temps. In June 2021, around 700 passengers, most of which were in transit, found themselves stuck at Zurich airport. According to a spokesperson at Swissport, a company providing ground services for the...

In our July 29 post titled How Gold Stacks Up Against Stocks, Property, Commodities and Big Macs! we showed readers charts of gold as a ratio to other assets and products. We discussed that gold competes with crypto and stocks for the investment dollars. It was clear that gold as a ratio of the S&P 500 Index and of the broader MCSI World Equity Index show that gold is ‘relatively cheap’ compared to these measures. But then we showed that this wasn’t the...

The "Nixon Shock" 50 years ago closed the 'Gold Window' on "international speculators" and killed the Bretton Woods gold exchange era. That's what we are told. Actually Bretton Woods was killed a decade (or more!) earlier; it's just we only noticed in 1971. ---------SPONSOR---------- If this show had a sponsor, I could say that today's episode is brought to you by Blockworks which will be hosting a conference in Bretton Woods from August 11 to 13 centered on the...

Overview: Record high closes yesterday for the S&P 500 and NASDAQ have done little to help global equities today.  Most of the Asia Pacific region markets, but Japan and Australia slipped ahead of the weekend while still holding on to gains for the week.  Europe's Dow Jones Stoxx 600 is threatening to snap a four-day advance, and US futures are trading a little lower. The US 10-year yield reached 1.125% in the middle of the week and is extending yesterday's...

© Sergei Babenko | Dreamstime.com In 2016, the social security office in Zurich discovered a concealed bank account containing CHF 1 million belonging to a deceased man who had received welfare payments for 13 years, reported RTS. Over the 13 years, the man had received financial hardship payments, known as supplemental benefits, and health insurance subsidies amounting to CHF 140,000. When applying for hardship payments in Switzerland, all wealth must be declared....

Bob unveils a new recurring series, in which he gives the context of infamous quotations. In this episode, he covers two allegedly shocking quotes from John Lennon, John Maynard Keynes’ “in the long run we’re all dead,” Trump on Nazis being very fine people, Dan Quayle misspelling potato, Obama’s “you didn’t build that,” and Bohm-Bawerk on Karl Marx. Mentioned in the Episode and Other Links of Interest: Wikipedia entry on John Lennon’s “more popular than Jesus”...