US PVC exports tumble as demand weakens in key markets
The US PVC industry is hitting new problems, to add to the post-2006 collapse of the US housing market. Yet only 10 years ago, it was riding high. Demand into housing (the main outlet) was…
Great Unwinding sees dollar rise, oil prices fall
The day after our China Economic Transformation webinar last week, Premier Li Keqiang confirmed its key message: “There’s already a lot of money in the pool, and we can’t rely on monetary stimulus to…
Global stock markets still depend on low-cost money for support
The blog’s 6-monthly review of global stock markets highlights the narrow nature of the advance since September 2008, when the blog first began analysing developments. It shows their performance since the pre-Crisis peak…
US reaches ‘peak car’ moment as incentives, inventories rise, whilst fewer Americans carry driving licenses
The blog’s suggestion back in March that now would be a good time for US readers to buy a new car is looking more and more prescient. As the head of American…
Great Unwinding of policymaker stimulus creates interest rate risk
Interest rate risk is rising in the developed economies as the Great Unwinding of policymaker stimulus continues. Since the blog first highlighted this Unwinding last month: Oil prices have continued to tumble, with Brent now down…
US jobless dominated by Blacks, Hispanics and those without high school diplomas
Financial markets today only care about one thing – whether central banks will continue to provide more low-cost financing to support higher asset prices. Thus markets liked last Friday’s weak US jobs report. …
China Transformation webinar tomorrow
Today is Mid-Autumn Festival day in China, held to celebrate the harvest. Traditionally it features the exchange of moon cakes filled with lotus paste and egg yolks, whilst children go to lantern…
Boom/Gloom Index tumbles as S&P 500 hits record
The stock market used to be a good leading indicator for the economy. But that was before the central banks decided to manipulate it for their own purposes. As then US Federal…
August highlights
Many readers have been taking a well-earned break over the past few weeks. As usual, therefore, the blog is highlighting key posts during August, to help you catch up as you return…