“Until late summer, we thought corporate and consumer resilience [would] be able to withstand the
Month: November 2022
Powell Delivers 2,400-Word FOMC Statement
Jerome Powell was pretty specific on a number of key points in prepared remarks for
In Housing: ‘Difficult Months’
News sections on real estate websites read like obituaries these days. Not so long ago,
‘Normal’ Still Elusive In US Labor Market
Good news: There are less available jobs in the world’s largest economy. That doesn’t sound
Manufacturing Payrolls Plunge As Private Sector Hiring Decelerates
US private sector employers added fewer jobs than anticipated in November. At 127,000, the headline
In Europe, A Sight For Sore, Irrelevant Eyes
Rejoice! The rate of annual price growth in Europe decelerated this month by the most
The Tragedy Of America’s $3.5 Trillion In ‘Extra’ Savings
Back in June, I told readers the “sad, sad story” of $3 trillion in pandemic
Blame Gas Prices?
US consumers felt incrementally worse this month about their economic prospects. That’s according to a
Ban Free Speech
Economists and academics aren’t exactly famous for producing models that approximate reality while attempting to
Overthrowing Xi Could Mean The End Of The World
I assume this is obvious, but what’s obvious to me isn’t always clear to the
‘Since Tiananmen’
Over the weekend, in Shanghai, a man strode unimpeded down what looked to be a
There’s No Such Thing As ‘Woke Capitalism’
I’ve reached an intellectual limit with the comically farcical notion that corporate America is engaged
He Hates These Jobs!
[Editor’s note: For my younger readers, the title of this article is a classic American
A Popularity Contest For The Unpopular
I saw a pitiable statistic the other day. Just 6% of voters in America are
Mourning Lost Mayhem
I assumed (wrongly, perhaps) that in the era of “everything analytics” brought to you by
Grey Skies
“It’s not so much a Black Friday as a grey one,” SocGen’s Kit Juckes wrote,
(Mis)informed By ‘Corporate Views’
“Way” back in August, following a better-than-feared Q2 reporting season for corporate America, it was
China In Dire Straits
Just two days after China’s cabinet tipped the “timely and appropriate” use of monetary stimulus
No Profit Pollyannas Allowed
At this point, I’m not sure anyone is as optimistic about the outlook for US
Gamma Flip Suggests Stock Serenity. For Now
Things have calmed down. For now. In a year defined by uncertainty and cross-asset turmoil,
Meanwhile, In Turkey…
He did it. Recep Tayyip Erdogan succeeded in bringing rates in Turkey back down into
Bankman-Fried: FTX Collapse Is ‘Sh—y Thing’ That ‘Sucks’
Below, find the letter Sam Bankman-Fried sent to FTX employees this week. Typically, I’d indulge
Lags And Stepdowns
The word “lags” came up nine times in the November FOMC minutes, released into a
Saying One Thing, Doing Another
“Along with the ongoing impact of inflation, attitudes have also been weighed down by rising
Americans Keep Mortgaging Their Lives Away
Incorrigible Americans, spurred on by some combination of rate buy-downs and FOMO, bought more brand
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