SNB & CHF

Asset inflation benefits the super-rich more than anyone else because they own the vast majority of these assets. With the reflation euphoria running full blast, maybe central banks will finally get all that inflation they’ve been pining for. So let’s ask cui bono–who will benefit from inflation? The Super-Rich love inflation and the money-printing that generates it. Longtime correspondent Michael M. explains the dynamic behind billionaires’ adoration of...

Presidential election 2020 is the same as every other, except in the ways it isn’t. Allow me to expand on this. What is the same? The purpose of all elections is to allow a band of people called the state to legitimize their claim of control over everyone and everything within a given jurisdiction. In his book The Rise and Fall of Society, the Old Right libertarian Frank Chodorov defines the state as “a number of people who, having somehow got hold of it,” use “the...

New Infections On 9 November 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 17,309 new laboratory-confirmed Covid-19 cases over 72 hours, bringing the total to 229,222. The 24-hour average number of new cases of 5,770 recorded over the weekend is lower than the previous weekend when it was 7,309 (21,926 over 72 hours). However, Alain Berset, the minister in charge of health care in Switzerland, told an audience in Jura that now is not the time...

Unemployment Rate (not seasonally adjusted) Registered unemployment in October 2020 – According to surveys by the State Secretariat for Economic Affairs (SECO), 149,118 unemployed people were registered with the regional employment centers (RAV) at the end of October 2020, 558 more than in the previous month. The unemployment rate remained at 3.2% in the month under review. Compared to the same month last year, unemployment increased by 47,434 people (+ 46.6%)....

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Swiss Franc The Euro has risen by 0.84% to 1.0782 EUR/CHF and USD/CHF, November 9(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge Overview: The new week has begun with robust risk appetites, driving stocks and stocks higher and sending the dollar broadly lower. Nearly all the equity markets in the Asia Pacific region gained more than 1%, except Malaysia and Indonesia. The Nikkei, which posted its highest close before the weekend in...

The data presented on this page has been collected between 6:00 and 10:00 CET Disclaimer: National updates are published at different times and in different time zones. This, and the time ECDC needs to process these data, may lead to discrepancies between the national numbers and the numbers published by ECDC. Users are advised to use all data with caution and awareness of their limitations. Data are subject to retrospective corrections; corrected datasets are...

Interview with Rafi Farber – Part I of II By now it is probably obvious, even to the most naive of mainstream narrative followers, that we are well past the point of no return on many fronts. Politics, on a national and global level, are never getting back to “normal”, the economy is already knee-deep in a severe recession, while social frictions and public discontent with governments, institutions and all kinds of rulers and central planners is on a sharp and...

So enjoy the GBOAT (greatest bubble of all time) but watch the clock. Sports fans debate who qualifies as GOAT–the greatest of all time: in hoops, Kobe, Jordan, Kareem, Magic; in boxing, Ali, and so forth. What we have today is GBOAT–the greatest bubble of all time That it’s GOAT is beyond doubt, as the charts below reveal. Bubbles have a few unique characteristics which cannot be captured by financial metrics. The most important such characteristic is that...

The payroll report for the month of October 2020 was a very good one. This shouldn’t be surprising, perfect BLS publications appear with regularity even during the most challenging of circumstances. Headlines and underneath, everything looked fine last month. It wasn’t perfect, however, and it’s the same things that leave it short of perfection which are entirely too familiar for this last decade of the occasional perfect payroll publication. Meaning, yes,...