Friday, September 1, 2017
Calculated Risk - August employment report is not doomy. But of course a certain Russian-funded neo-Nazi propaganda site frequented by the dumber end of the market had to call it a harbinger of doom.
Yet I look at Bill's charts and see that there's really nothing outside of trend.
BTW, it's funny that, despite being a supposed Libertarian website, that certain Russian-funded disinfo fake news site has to run articles backing up Trump and criticizing "violent left-wing anti-Fascist protesters". I guess that means that Libertarians are in favour of Fascism, or they whole-heartedly support Trump, or they're such pussies that they could never imagine what it's like to actually fight for your beliefs.
Thursday, August 31, 2017
CNBC - Hooray! Quarterly GDP up 3%! And just like that people are okay with buying stocks again.
Reuters - Hooray! Trump can't shut down the government anymore because Texas! And just like that people are okay with buying stocks again.
Tuesday, August 29, 2017
New Deal Demoncrat - weekly indicators. Nothing worth worrying about.
Tim Duy the Economics Guy - market fear is a nothingburger. Quit pissing your panties, SPY is down 2% from an all time high.
Tim Taylor - will the China shock operate in reverse? The suggestion is that demographics will, among other things, drive interest rates back up now that China is oldening. Personally, I have never met a senior citizen who hit age 65 with x savings and didn't continue accumulating savings in retirement. I would like to see the empirics before I believe this story that we're moving into a worldwide dissaving regime.
Oh, and also: Goodhart and Pradhan are assuming that the Chinese government won't modify policy to keep rates from rising, if they don't want rates rising. This is boneheaded: China knows its policy power trumps all bullshit economic theory.
IPE Zone - Canada's plan to keep NAFTA alive. If one side has put a full-court press in play at multiple levels to lobby for maintenance of NAFTA, and the other side is a bunch of idiot Republicunts run by a retard with a 6-year-old's mentality, then what do you really think the result will be? Oh, and:
Remember, the US president does not have sole discretion whether to withdraw from a trade deal like NAFTA. Instead, congress does.So you can tune out all those idiots in the press with their 2 year college degrees in broadcasting, because not a fucking one of them seems to know how legislation works in the US.
FT Alphaville - Russian Burger King invents "Whoppercoin". This is silly, and Kadim Shubber does his best Izzy Kamizzy:
Big news out of Russia today. Burger King has launched a new loyalty points program called “WhopperCoin”.
If you buy enough Whopper sandwiches from the fast-food chain and accumulate 1,700 loyalty points, you get a free one.
It’s big, big news. The kind of big news that gets covered by the BBC, the Verge, CNBC and Fortune.
Why is it big news?
Well, because Burger King Russia is calling it a “cryptocurrency”…
‘Now Whopper is not only burger that people in 90 different countries love – it’s an investment tool as well. According to the forecasts, cryptocurrency will increase exponentially in value. Eating Whoppers now is a strategy for financial prosperity tomorrow,’ comments Ivan Shestov, Head of External Communications at Burger King Russia.
Just to be clear, that’s someone calling a fast-food chain’s loyalty points program, which has a fixed conversion rate to B.U.R.G.E.R.S., an “investment tool” that is forecast to “increase exponentially in value”.
You know it's a stupid idea when you can channel Zoidberg:
"A-ha! Once again, the conservative sandwich-heavy portfolio pays off for the hungry investor!"