Tag Archives: newsletter

With last week’s second 75 basis-point rate hike, the Federal Reserve now claims it has achieved a “neutral” monetary policy stance. That would mean, in theory, that interest rates are neither stimulating nor restraining the economy. “Now that we’re at neutral, as the process goes on, at some point, it will be appropriate to slow down,” Fed Chairman Jerome Powell said. Powell was effectively telling markets he intends to pivot away from inflation fighting. Yet...

The problem for global corporations feasting on “Inflation” profiteering is that the vast majority of consumers can’t afford another lavish vacation, overpriced vehicle or specious subscription. A funny thing seems to be happening within “Inflation”: companies are using “inflation” as cover for outrageous price increases that have little to do with actual inflation. Consider a water or electric utility that is directly impacted by rising costs of natural gas / oil....

One of the benefits to the U.S. national-security establishment of Russia’s invasion of Ukraine is that it has enabled the U.S. mainstream press to focus on the evils of the Russian regime rather than on the evils of the U.S. regime.  Consider, for example, the invasions and long-term occupations of Afghanistan and Iraq, both of which, most everyone would concede, were riddled with official lies. Given all the attention of the mainstream press on Russia’s invasion...

The world today is in crisis. Military aggression in Ukraine has escalated into global economic war, with nations forced to choose between following the lead of an increasingly illiberal West and access to the vital energy and industrial markets of Russia and China. At the same time, the world continues to suffer the devastating consequences of “public health” experts who exploited the coronavirus crisis to pursue their underlying authoritarian impulses. Meanwhile,...

Federal Councillors’ trip at Schloessli Woerth in Neuhausen am Rheinfall in Schaffhausen, Thursday, June 30, 2022. Keystone Nearly two out of three Swiss (64%) believe that Swiss government members do not work smoothly together, according to a survey carried out by the Sotomo research institute. The Swiss government consists of the Federal Council which comprises seven members, each of whom heads a ministry. There are clear tensions and rivalries in the executive...

JAROWA is a Swiss digital marketplace and transaction platform for insurance companies, property managers, and leasing companies to manage their trusted service providers and digital orders more efficiently. JAROWA has successfully closed its Series A funding round, led by Eos Venture Partners, a strategic venture capital fund focused on InsurTech. The proceeds will be used to further expand JAROWA’s offering throughout Europe. Andreas Akeret, JAROWA CEO, stated,...

Overview: The US dollar begins the new month better offered. It is softer against all the major currencies. Short yen positions continue to get unwound, which is leading the move, followed  by the Antipodeans, where the Reserve Bank of Australia is expected to hike rates tomorrow. Most emerging market currencies are firmer too, except for a few Asian currencies, the Russian rouble, and, of course, the Turkish lira. Asian and European equities are higher. Japan and...

My written statement for 20minuten: Anlageverluste der SNB sind schlecht für den Schweizer Steuerzahler, denn ihm gehört die SNB. Sie können aber auch Entwicklungen widerspiegeln, die ihre guten Seiten haben. Jetzt zum Beispiel führt die Frankenstärke zu Anlageverlusten, bremst aber auch die importierte Inflation. Die Diskussion um die Höhe der SNB-Ausschüttungen ist vielfach fehlgeleitet. In der Debatte geht vergessen, dass Gewinnausschüttungen das Reinvermögen von...

From the Equal Pay Act 1970 to the Equality Act 2010, there has been a wave of legalization in Britain to turn the state into some omniscient being that can determine the intentions of an employer. While these pieces of legislation did not enforce direct quotas onto businesses, they have increased inefficiencies through the increase in human resources roles for companies and organizations to cover their own backs. These pieces of anti-discrimination legislation...

Own your work. Don’t give it away or let others profit at your expense. Leverage it when opportunities arise. What can The Beatles teach us about management?Young readers may wonder why The Beatles still matter 52 years after the band broke up. It’s a fair question. There are many answers, but perhaps the obvious one (beyond the music, of course) is the band was a cultural phenomenon that has no modern equivalent. A less obvious answer is the unusual dynamics of the...