Swiss SMEs do not expect AI-related job cuts Keystone-SDA Listen to the article Listening the article Toggle language selector...
Read More »Switzerland remains ‘world’s most innovative country’
Switzerland remains the world's most innovative country, according to the UN Keystone-SDA Listen to the article Listening the article Toggle language selector...
Read More »What Does ChatGPT Know about Money?
Given the contentious topic of money and its influence on the world, I decided to see what ChatGPT “knows” about it. I was surprised by the breadth of its responses, as well as its information on free market positions, especially those of the Austrian school.Though my prompts (queries) were exactly as I present them here, ChatGPT was so expansive I had to edit its results due to article length restrictions. For emphasis and to mark subject headings ChatGPT frequently...
Read More »China’s Politburo Validates and Extends Pivot while the US Dollar Sees Yesterday’s Gains Pared
Overview: After its recent losses were extended, the dollar reversed higher in North America yesterday. Technically, this looks to have ended the sharp drop over the last couple of weeks, but there has been no follow-through gains today and a consolidative tone emerged. G10 currencies are firmer today, led by the recovery in the Antipodeans. The Swiss National Bank delivered the expected 25 bp rate cut, but the Swiss franc is up about 0.25%. Emerging market...
Read More »Swiss central bank cuts interest rate by 0.25%
The Swiss National Bank says inflation is falling Keystone Listen to the article Listening the article Toggle language selector...
Read More »The Vampire Fiat Money System: How It Works and What It Means for Your Wealth
Who doesn’t know them: the blood-sucking vampires, the eerie undead, immortalized in countless films, and inspired primarily by Bram Stoker’s novel Dracula (1897). Just think of iconic movies like the silent film Nosferatu – A Symphony of Horror (1922), Dracula (1958) with Christopher Lee, Roman Polanski’s parody The Fearless Vampire Killers (1967), or Nosferatu – Phantom of the Night (1979), starring Klaus Kinski as Count Dracula. Vampires are demons who rise from...
Read More »China on the Edge of Recession
China is on the edge of recession — excluding Covid, for the first time since 2008 — as new data showed all-important manufacturing contracted for the fourth month in a row with particular weakness in new orders.In other words, what they’ve got is a backlog, then it’s a cliff.Manufacturing makes up a third of China’s economy — much more than the US. The collapse of China’s property — another third of China’s economy — is adding further fuel to the fire.Offices...
Read More »No, Russia is Not Losing the War in Ukraine: A Reply to Paul Schwennesen
On September 5th, Reason Magazine published a very strange assessment of the war in Ukraine, written by Paul Schwennesen, titled “The War in Ukraine Is Already Over—Russia Just Doesn’t Know it Yet.” In short, Schwennesen argues that, based on his experience recently traveling to the front in Kursk Oblast, Ukrainian will and high morale mean that the war is as good as over and that Ukrainian triumph is “inevitable.”Schwennesen’s analysis that Russia has as good as...
Read More »The Comic Absurdity of a US Sovereign Wealth Fund
In recent weeks, both candidate Donald Trump and President Biden—via his staff—have expressed support for the idea of a US sovereign wealth fund (“SWF”). An SWF is simply an investment fund run by a national government. Ostensibly, the goals of such a venture are twofold—to increase the wealth of America and its citizens, and to spur innovation in “critical” areas like infrastructure, technology, and medicine.An American SWF is bound to fail on at least these two...
Read More »Run on the Dollar Stalls after the Market Boosted Odds of another 50 bp Fed Cut
Overview: Weak US consumer confidence, especially regarding the labor market boosted speculation of another half-point Fed cut in November when the central bank meets again. This weighed on the dollar. Sterling and the Australian dollar rose to new 2 1/2-year highs. The PBOC followed up yesterday's package with a 30 bp cut in the one-year Medium-Term Lending rate. After extending its losses earlier today, the dollar has steadied and turned higher against most of the...
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