Tag Archives: Featured

  Über „die Inflation” wird viel Irreführendes geredet. Von Politikern, Zeitkommentatoren und selbst von manchen Ökonomen. Schon die am meisten verbreitete Definition ist falsch. So heißt es, „Inflation” sei ein anhaltender Anstieg der Preise. Weiterhin wird behauptet, dieser Anstieg ließe sich messen und demnach ergebe sich das „Preisniveau” und die „Inflationsrate”. Preise Der Grundirrtum des Ansatzes zur Messung der Preisinflation besteht darin, zu glauben,...

This may be one of many revaluations of capital vis a vis labor and resources and core vis a vis periphery. You’ve heard the expression “cash is king.” Very true. But it’s equally true that “crash is king:” when speculative excesses collapse under their own extremes, the crash crushes all other narratives and becomes the dominant dynamic. Everything that the mainstream uses to predict “value,” market action and “the future” is tossed out the window. Price-earnings,...

Day 56 April 20 4-year old Alisa is begging to be evacuated from under siege Mariupol. So are thousands of others after about 50 days underground. But russia won’t allow it. They are holding these people hostage, watching them die slowly and painfully one by one. Source: Nataliya Melnyk on Facebook ********************************************************* Day 55 A big thank you from my little shelter van Goghs to everyone who helps us keep them distracted...

Overview: Fears that the Chinese lockdowns to fight Covid, which have extended for four weeks in Shanghai, are not working, and may be extended to Beijing has whacked equity markets, arrested the increase in bond yields, and lifted the dollar. Commodity prices are broadly lower amid concerns over demand. China’s CSI 300 fell 5% today and Hong Kong’s Hang Seng was off more than 3.5%.  Most of the major markets in Asia Pacific were off more than 1%. Europe’s Stoxx 600...

In 1975, after nearly a decade of outright conflict, the United States government abandoned its doomed escapade in Vietnam. It left a devastated country and over a million corpses in its wake. The corrupt South Vietnamese regime, already teetering on utter collapse, completely dissolved without American support. And the Communist forces of North Vietnam eagerly descended on Saigon, impatient to implement their antimarket and antiproperty policies. What followed was a...

For one thing, that whole Bretton Woods 3 thing is really off to an interesting start. And by interesting, I mean predictably backward. According to its loud and leading proponent, China’s yuan was supposed to be ascending while the dollar sank, its first step toward what many still claim will end up in some biblical-like abyss. Instead, CNY is doing the plummeting and at a speed reminiscent of August 2015. That month did not, obviously, lead to a vast rearrangement...

What everyone is saying, because it’s convenient, is that China’s zero-COVID policies are going to harm the economy. No. Economic harm of the past is the reason for the zero-COVID policies. As I showed yesterday, the cracking down didn’t just show up around 2020, begun right out in the open years beforehand, born from the scattering ashes of globally synchronized growth. Xi Jinping saw how a very different post-2008 global economy without any recovery was going to...

To listen to the audio version of this article click here. In the world of trends, history repeats more than it rhymes. Things which were considered “in” decades ago, reemerge as cool again decades later. From mom jeans to vinyl records and even Marxist ideology. The spotlight of today turns to things—both good and bad—once forgotten. Inflation is the latest trend to reemerge. But this isn’t the kind and considerate inflation which hummed quietly in the background...

Since the start of the war in Ukraine, many Russian internet users have been using the Swiss software Kiwix to download Wikipedia fearing that it will soon be banned. © Keystone / Christian Beutler The Swiss software Kiwix enables the user to copy entire websites so they can be accessible offline. Now that Wikipedia risks sanction in Russia because of its content on the Ukraine war, downloads of the free online encyclopaedia using Kiwix are off the charts. Wikipedia...

The goods economy in the United States is – maybe was – the lone economic bright spot. That in and of itself should’ve provoked more caution, instead there was the red-hot recovery to sell under the cover of supply shock pricing changes. The sheer spending on goods, and how they arrived, each unabashedly artificial from the get-go. Combine those two factors, however, the necessary supply squeeze surge in prices along with the artificiality behind it wearing off,...