SNB & CHF

The US consumer price index increased by 6.8% year-over-year for the month of November. Inflation, right? Undisputed, incontrovertible evidence of inflation! Step right up and watch the amazing Harry Houdini of Macroeconomics escape this box of inflation and call it "not inflation". -----EP. 178b TOPICS------ 00:00 INTRO: Consumer prices increased 6.8% YoY in the USA for November - is it inflation? 01:07 Consumer prices have risen, yes. Because of monetary policy? No. 03:15...

Earlier this year, the bank, which was set up in 1965, announced it is ceasing private banking. Headquartered in Zurich, the bank has had subsidiaries in Geneva, Hongkong and Singapore as well as representations in Abu Dhabi, Dubai and London. © Keystone/Ennio Leanza A Swiss court has found the Zurich-based Falcon Private Bank guilty of money-laundering offences. The Federal Criminal CourtExternal link on Wednesday ordered the Abu Dhabi-owned bankExternal link to pay...

If the Senate follows the House of Representatives's lead and passes the Immunization Infrastructure Modernization Act (HR 550), Americans who do not get the recommended number of covid vaccines can look forward to receiving a text like this: “This is Dr. Anthony Fauci. According to government records you have not yet received your monthly covid booster shot. Until you prove you are following vaccine protocols, your vaccine passport will be revoked, resulting in loss...

When Ronald Reagan officially announced his candidacy for president of the United States in November 1979, he called for the establishment of a large free trade zone encompassing the USA, Canada, and Mexico. Not surprisingly, the so-called free trade agreement better known as the North American Free Trade Agreement (NAFTA) resembled the usual “managed trade” that falls much more into the category of what Randall Holcombe calls “political capitalism.” Politics has a...

The official retirement age for women will be put at 65 in line with that of men in Switzerland under the reform approved by parliament but opposed by trade unions and the political left. Keystone/Gaetan Bally Parliament has approved a major reform of the Swiss pension system, including a controversial rise in the retirement age for women. The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well...

Basic intuition says this is a no-brainer. Producer prices rise, businesses then pass along these higher input costs to their customers in the form of consumer price “inflation” so as to preserve profits. This is the supply chain hypothesis. Statistically, we’d therefore expect the PPI to lead the CPI. And this was expected for much of Economics’ history, taken for granted as one of those self-evident truths (kind of like the Inflation Fairy). After the dreadful...

In certain quarters, “scientific” quarters, the Chinese haven’t just done a fantastic job managing their own outbreak of COVID-19, the Communist government has produced a pandemic response model for the entire world to envy. After all, according to the WHO’s most recent data (up to December 15, 2021), only 5,697 of the nation’s citizens have died of (with?) corona since the whole thing began. Outside the WHO and partisan political circles, of course, no one believes...

➡️ Jeff Snider, The Function of a Reserve Currency. ◢https://youtu.be/Kj9Hi3ZtxQ8 ◢ Follow The Movement https://bit.ly/3slupxs Inflation is understandably an emotional topic and often a difficult conversation to have. Inflation is always and everywhere a monetary phenomenon. It’s usually a significant increase in prices across a broad swath of the economy. In order to see sustained price increases, you need to have too much money chasing too few goods. Bank reserves are not money...

The Fed has to taper faster because consumer prices (i.e. motor fuel, automobiles) rose faster than it expected. It didn't have the moxie to stare down the CPI increase and explain why QE (i.e. 'money') had nothing to do with CPI. Maybe they're not really a central (money) bank. -----EP. 178a TOPICS------ 00:00 INTRO: The Federal Reserve is increasing its rate of deceleration in QE purchases; taper. 00:17 Orthodox Economics believes the taper quickening is important, even critical news...

Overview: The combination of the volatility and a large number of central bank meetings have exhausted market participants, and the holiday phase appears to have begun. Equities are under pressure following the sell-off yesterday in the US. Japan, China, and Hong Kong suffered more than 1.2% losses, while Australia, South Korea, and Taiwan posted minor gains. It was the fifth loss in the past six sessions for the MSCI Asia Pacific Index. Europe's Stoxx 600 is off...