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The Fed plans to keep interest rates near zero, while monetizing debt, financing zombie companies, and pouring new dollars into the market. But that may not be enough. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “The Fed Is Planning Another Ultralong Period of Ultralow Rates“. You Might Also Like Walter Berns and the Cult of “Patriotic”...

Savings are the foundation for a productive and advanced economy. Unfortunately, governments insist on policies that make it harder for ordinary people to save. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The Saving Problem in America: Alternatives and Reforms“. You Might Also Like What Germany Must Do for a Speedy Recovery On June...

Swiss Franc The Euro has fallen by 0.45% to 1.0751 EUR/CHF and USD/CHF, September 21(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global equity markets are off to a poor start to the week, and the dollar appears to be enjoying a safe-haven bid. Tokyo markets are closed until Wednesday, while Asia-Pacific stocks tumbled, and the regional index is unwinding last week’s gains. The Dow Jones Stoxx 600 is off...

© Jesada Wongsa | Dreamstime.com Compared to much of the world, confidence in the safety of vaccines is low in Switzerland, according to a recently published study. In 2015, only 30% of Swiss questioned strongly agreed that vaccines were safe, ranking it 133rd out of 149 nations in terms of confidence in vaccine safety. This compared to 89% in Argentina and 86% in both Liberia and Bangladesh. At the same time only 3% in Switzerland strongly disagreed with them being...

Those who don’t see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling. I recently came across the idea that inflation is a two-factor optimization problem: inflation is necessary for the macro-economy (or so we’re told) and so the trick for policy makers (and their statisticians who measure the economy) is to maximize inflation in the economy but only to the point that it doesn’t snuff out...

When the eurodollar system worked, or at least appeared to, not only did the overflow of real effective (if virtual and confusing) currency “weaken” the US dollar’s exchange value, its enormous excess showed up as more and more foreign holdings of US$ assets. Mostly US Treasuries, especially in official hands, but not entirely those. That much is perfectly clear; you can actually see the difference on every chart despite all the QE’s and trillions in bank reserves...

In the New York Times on September 8, 2020, Paul Krugman wrote that The CARES Act, enacted in March, gave the unemployed an extra $600 a week in benefits. This supplement played a crucial role in limiting extreme hardship; poverty may even have gone down. For Krugman and many economic commentators, it is the duty of the government to support the economy whenever it falls into an economic slump. Following in the footsteps of John Maynard Keynes, most economists hold...

© David Moreno | Dreamstime.com The banned substance chlorothalonil, which is in some pesticides, has been found to be above the limit in 60% of ground water samples taken across the canton of Zurich over the last 12 months, reported SRF. Ground water is different to drinking water. Only 20% of drinking water samples taken across the canton had chlorothalonil concentrations above the legal limit, according to the study. However, Natalie Rickli, Zurich health...

It is a bilateral agreement on agriculture signed in 1999 – and not the 1972 Free Trade Agreement – that lifted duties and quotas for Swiss-made cheese destined for the EU market. © Keystone / Peter Klaunzer The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading. Opponents to the Swiss People’s...

Why are there still outstanding dollar swap balances? It is the middle of September, for cryin’ out loud, and the Federal Reserve reports $52.3 billion remains on its books as of yesterday. Six months after Jay Powell conducted what he called a “flood”, with every financial media outlet reporting as fact this stream of digital dollars into every corner of the world, how can there be anything greater than zero in overseas liquidity swaps? Six months is an eternity....