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Rebuilding social capital and social connectedness is not something that can be done by governments or corporations. As the mid-term elections are widely viewed as a referendum of sorts, let’s set aside politics and ask, what’s behind the erosion of our civil society? That civil society in the U.S. and elsewhere is fraying is self-evident. It isn’t just the rise of us-or-them confrontations and all-or-nothing...

Stable coins are proliferating as a means to counter the effects of huge price swings of cryptocurrencies. A new bond has been launched in Switzerland to help investors and blockchain start-ups escape the volatility of cryptocurrencies. Issued by Swiss Crypto Tokens, the bond is a representation of the safe haven currency on the blockchain. The first 10 million units of the bond, each worth a franc and pegged to the...

Jörg Gasser wants to pursue a new career path (Keystone) The State Secretary for International Finance, Jörg Gasser, is to step down in February after three years in office. It was Gasser’s decision to leave the post, according to a statement by the finance ministry on Wednesday. Among his most important tasks was the development of bilateral relations and cooperation with new and emerging markets, notably in Asia, the...

Trade war stuff didn’t really hit the tape until several months into 2018. There were some noises about it back in January, but there was also a prominent liquidation in global markets in the same month. If the world’s economy hit a wall in that particular month, which is the more likely candidate for blame? We see it register in so many places. Canada, Europe, Brazil, etc. It does seem as if someone flipped a switch...

02.11.2018 – Turnover in the retail sector fell by 2.3% in nominal terms in September 2018 compared with the previous year. This is the sharpest decline since December 2016. Seasonally adjusted, nominal turnover fell by 1.6% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover in the retail sector also adjusted for sales days and holidays fell by 2.7%...

SNB Trade War - Click to enlarge Die SNB befürchtet einen Handelskrieg, der in einen Währungskrieg münden und schliesslich zu einer grossen Depression führen könnte. Wir alle wissen, dass nach der grossen Depression der Weltkrieg kam. Die Ökonomen und Zentralbanker sind also aufs äusserste gefordert. Eine exakte ökonomische Analyse hat höchste Priorität. SNB-Chef Jordan sagte vorgestern vor der Volkswirtschaftlichen...

Strong wage growth should support the recovery of euro area inflation in the coming months. Euro area flash HICP rose from 2.1% year on year (y-o-y) in September to 2.2% in October, in line with expectations and the highest level since December 2012. Crucially, core inflation (HICP excluding energy, food, alcohol and tobacco) rebounded from 0.9% to 1.1% in October. Energy inflation rose to 10.6% y-o-y from 9.5% y-o-y in...

Once a business is established, there are many ongoing administrative tasks required by law. The main ones are covered in this article. The first few relate to employees and the rest to taxation and other essential administrative tasks. 1. Social insurance taxes Businesses that employ people, including independents, must pay social insurance taxes. These are administered by compensation funds and rates vary slightly by...

Why Eurodollars Might Be Key to the Market Sell-Off (Podcast) There’s a huge market out there that doesn’t get much attention: Eurodollars. These have nothing to do with the euro-dollar exchange rate. Instead, eurodollars are U.S. dollar-denominated deposits at foreign banks and overseas branches of American banks. They’re effectively a source of dollars that operates outside the control of the U.S., and have at...

Swiss Franc The Euro has risen by 0.18% at 1.1425 EUR/CHF and USD/CHF, November 01(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It appears that month-end considerations deterred the dollar selling that the technical indicators warned was coming and as the new month starts, the dollar is offered. It is weaker against all the major currencies and most of the...