Advantage greece... A decade ago, Germany was giving lessons to Greece how to run its economy. Things can quickly change.
Source: Michael A.Arouet
Many are concerned that higher rates will hurt growth, but it turns out that a lot of S&P 500 companies have locked in debt at much lower rates until 2030
Source: Bloomberg, Goldman Sachs
President Joe Biden blasted China’s economic problems as a “ticking time bomb” and referred to Communist Party leaders as “bad folks”
His latest barb against President Xi Jinping’s government even as his administration seeks to improve overall ties with Beijing. In comments that included several major inaccuracies about the world’s second-largest economy, Biden said at a political fundraiser Thursday that China was in “trouble” because its growth has slowed and it had the “highest unemployment rate going.” He also blasted Xi’s signature Belt and Road Initiative as the “debt and noose,” because of the high levels of lending to developing economies associated with the global investment program. Although Biden misrepresented key statistics about China, overall outlook remains grim. This chart by Bloomberg thru Holger Z is a harsh remainder of the amount of leverage in the Chinese economy. As growth slows down alongside deflationary threat, this could become a major issue. Source: Bloomberg
Ominous sign of weakness in Chinese economy: China is suffering Italian style youth unemployment despite Chinese women retiring in early fifties
Source: Francois Trahan thru Michel ArouetT
US CPI has moved down from a peak of 9.1% in June 2022 to 3.2% today. What's driving that decline?
Lower rates of inflation in Fuel Oil, Gasoline, Gas Utilities, Used Cars, Medical Care, Electricity, Apparel, New Cars, Food at Home, and Food away from Home. Shelter and Transportation are the only major components that have a higher inflation rate than June 2022. Source: Charlie Bilello
US inflation a tad lower than what economists expected: US July CPI accelerates to 3.2% YoY from 3% in June vs 3.3% expected, BUT the first acceleration after 12 consecutive months of decline
Both Goods and Services inflation (YoY) slowed in July - but Services remain extremely high at +6.1%... Core CPI slows to 4.7% YoY from 4.8% in June as expected. Shelter costs contributed to about 90% of the increase in July CPI. Note that #Fed's favorite inflation indicator - Core Services CPI Ex-Shelter - remains sticky' as it reaccelerated in July (+0.2% MoM, and from +3.9% to +4.0% YoY)... Fed Swaps price in lower odds (20%) of another rate hike this year. Source: Bloomberg, HolgerZ, www.zerohedge.com
The $105 Trillion World Economy in One Chart
Source: Visual Capitalist
Average monthly salary after tax:
Source: World of statistics
