Looking Backwards … LB #1 As we wrote about on Bygone Relics on Wednesday, the German economy is in dire straits. Furthermore, the government was on the edge of collapse. Well, it took less than a day after we wrote the story. This from Andreas Rogal from EuroNews, “He has broken my trust too many …
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Looking Backwards … LB #1 We have lots of distractions right now which require us to put our heads down and focus. There are elections, BRICS meetings, UK economic instability, German recessions, Chinese stimulus, and a bond market that is not behaving how the US government wants, at all. These are all worthy subjects but …
Looking Backwards … LB #1 We told you about the military coup that just took place in America and while Joe Biden thumbs through the phone book to determine where he can order ice cream sprinkles, the real leader of the country ahs been busy. This from ZeroHedge, “Secretary of Defense Lloyd Austin arrived in …
Looking Backwards … LB #1 This week the BRICS summit will take place in Kazan, Russia. One of the main topics will be the alternative payments system to the US dollar. This from Gleb Bryanski at Reuters, “Central to that is the proposal for a new payments system based on a network of commercial banks …
Looking Backwards … LB #1 The layoffs have begun at Boeing. 17,000 workers were fired as the plane maker goes through a strike. If they are no longer building planes, they need less people and obviously they need to conserve cash. They have offered 30% to the workers and they were turned down according to …
Looking Backwards … LB #1 The strike is over. The port workers have reached an agreement ending their potentially crippling strike after three days. This from Reuter’s, “The tentative agreement is for a wage hike of around 62% over six years, two sources familiar with the matter told Reuters, including a worker on the picket …
Looking Backwards … LB #1 We should know by Tuesday whether or not thousands of dockworkers have gone on strike potentially snarling supply chains. This from Owen Klinsky from the DailyCaller.com, “The International Longshoremen’s Association (ILA) — which represents more than 85,000 workers at three dozen U.S. ports along the East Coast and Gulf of …
Looking Backwards … LB #1 I shouldn’t make fun, but that is kind of what I do. The relief you have waiting for people has arrived. The Fed has cut 50 basis points and for all of you shoppers that means that your credit card interest rate has been reduced from 24% to 23.5% so …
Looking Backwards … LB #1 Jerome Powell has said that interest rates would be higher for longer and he has largely been true to his word. We have had over a year of rates at 5.50% on the Fed Funds rate. It is common historical knowledge that interest rate policy works with a lag, a …
Looking Backwards … LB #1 This week was about the economy and the jobs reports. We know the government and the Bureau of Labor Statistics have been missing on the numbers. That’s a fact. We can speculate whether it is on purpose to help Kamala get elected or they are just having difficulty after Covid …