Tag Archives: newsletter

Honestly, what did everyone think was going to happen? I know, I’ve seen the analyst estimates. They were talking like another six or seven perhaps eight million job losses on top of the twenty-plus already gone. Instead, the payroll report (Establishment Survey) blew everything away, coming in both at two and a half million but also sporting a plus sign. The Household Survey was even better, +3.8mm during May 2020. But, again, why wasn’t this expected? All this...

That which has failed is unsustainable, no matter how many trillions the Federal Reserve tosses against the tides of history. The Gulfs Between the Classes The Credibility Gap The Partnerships That Failed The Groups That Opted Out The Undermining of Effort Every one of these is a manifestation of institutional failure. The Gulfs Between the Classes (see chart of soaring inequality below) manifests a completely broken economic and social order, and the abject...

Jackie Pang from Meigu TV called and wanted to talk about the seeming disconnect between Wall Street and Main Street. In this nearly 4.5 minute clip that she posted here, she gave me plenty of time to explain what I make of it. At the beginning of the year, as the S&P 500 was making new record highs, many observers wondered about the connection. The growing disparity of wealth and income may also raise questions about the linkages between Wall Street and Main...

Former president George W. Bush has returned to the spotlight to give moral guidance to America in these troubled times. In a statement released on Tuesday, Bush announced that he was “anguished” by the “brutal suffocation” of George Floyd and declared that “lasting peace in our communities requires truly equal justice. The rule of law ultimately depends on the fairness and legitimacy of the legal system. And achieving justice for all is the duty of all.” Bush’s...

Swiss Franc The Euro has risen by 0.64% to 1.0898 . FX Rates Overview: The modest loss in the S&P 500 and NASDAQ yesterday did not signal the end of the bull run. All the markets in the Asia Pacific region rallied, with the Hang Seng among the strongest with a 1.6% advance that brought the week’s gain to around 7.8%. South Korea’s Kospi was not far behind with a weekly gain of 7.5%. In the past two weeks, the MSCI Asia Pacific Index is up nearly 10%.  European...

Voici une vidéo tournée par Christian Campiche lors d’une rencontre matinale autour d’un café. Christian s’est mis à enregistrer alors que nous parlions de ce que la BNS faisait, et surtout ne faisait pas, pour soutenir la population suisse dans cette période de post-confinement. Mon point de vue est non seulement qu’elle ne fait rien pour l’économie locale, mais qu’elle fait tout pour le marché financier international auquel elle appartient pleinement. embedded...

© Martinmark | Dreamstime.com Based on data from the first wave of Covid-19, epidemic modellers in Zurich estimate Switzerland would have suffered 22,000 deaths without the restrictions on daily life introduced in March 2020. The modelling, done by Fadoua Balabdaoui and Dirk Mohr at the Swiss Federal Institute of Technology in Zurich (ETHZ), estimates nearly 75% of Switzerland’s population would be infected by now. One of the difficulties decision makers face when...

NGOs argue that developing nation debt is borne by the world’s poorest populations. (Keystone / Nic Bothma) A group of 11 NGOs has called on Swiss banks and government ministries to consider offering relief on billions in debt owed by developing nations. The consortium says that the coronavirus pandemic has increased economic pressure on the poorest countries. The NGOs in question are Alliance Sud, Swissaid, Fastenopfer, Bread for All, Helvetas, Terre des Hommes...

Risk sentiment is taking a breather today after a strong run; the dollar is getting some modest traction Fed tweaked its municipal bond program; weekly jobless claims are expected to rise 1.843 mln; Brazil and Mexico are seeing record high daily death counts ECB is expected to ease today; Germany agreed on a new fiscal package that exceeded expectations BOE warned that UK banks should plan for a possible hard Brexit; Swiss deflation is deepening Australia reported...

◆ WORLD SILVER SURVEY 2020 from the SILVER INSTITUTE GLOBAL SILVER DEMAND EDGED HIGHER IN 2019, WITH INVESTMENT DEMAND UP 12%, WHILE SILVER MINE SUPPLY FELL FOR THE FOURTH CONSECUTIVE YEAR Global silver demand was pushed higher in 2019, with a 12 percent increase in investment demand as retail and institutional investors focused their attention on the long-term investment appeal of the white metal. Favorable structural changes, such as vehicle electrification and a...