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How the economy works... An over-simplistic but accurate chart
Source: Markets & Mayhem
GLOBAL WAGES
Source: Win Smart, Genuine Impact and The Daily Shot
Luxury watch prices in the secondary market have collapsed
In less than 2 years, the price has declined by more than 35% WatchCharts Market Index tracks secondary watch market price trends It consists of 60 watches from the top 10 luxury watch brands, which are sorted and weighted by transaction value The index tracks the price movement of these watches in USD over time And is rebalanced every year on 1st Jan. Source: Game of Trades
MAP OF THE DAY: Sometimes, a picture is worth a thousand words. Container ships heading toward Europe and/or North America, with almost all avoiding the Red Sea (red)
More than two weeks after the launch of US-led 'Prosperity Guardian', the Houthis still rule in the Red Sea. Source: Javier Blas
Among the Top 10 surprises for 2024 by JP Morgan CIO: [Surprise #4] The driverless car backlash is coming. Here's why:
"In the few places where full Level 5 autonomous cars are being tested in real world conditions (San Francisco, Austin), they have blocked ambulances on their way to the hospital, hampered other emergency responders, caused accidents, increased congestion and run over pedestrians, one instance of which reportedly resulted in the resignation of Cruise’s CEO. Waymo has added technology to reportedly allow firefighters to take control of its vehicles if they stop moving. LiDAR (autonomous vehicle technology) stocks have collapsed by 85% from their peak - see chart below. A possible backlash might be coming from citizens who believe, as in the case of the despised urban scooter plague, that convenience for some results in dangers and inconvenience for others. Tesla is experiencing problems even at Level 2, which requires driver oversight. The NHTSA investigated a series of crashes involving Tesla autopilot and found that its methods of insuring driver compliance are inadequate and can lead to “foreseeable misuse”. In December, Tesla issued a recall of 2 million vehicles to update the software to require greater driver compliance". Source: JP Morgan, www.zerohege.com
Fidelity marks down X valuation by 71.5%
Source: Win Smart, CFA
Net effect of slowbalization is growing stagflation risk
Update "slowbalization" chart by IMF.
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