The Japanese yen is in positive territory today after starting the week with sharp losses. USD/JPY is trading at 138.22, down 0.34%. Japan releases a host of events on Wednesday, including retail sales and consumer confidence. Retail sales for July is expected to come in at -0.5% MoM, following a 1.4% decline in June. Consumer confidence remains weak, with a July...
EUR/USD has edged higher today and is trading at the parity line. In the North American sesssion, EUR/USD is trading at 1.0019, up 0.57%. The US dollar has posted sharp gains against the major currencies, as Fed Chair Powell's hawkish speech at Jackson Hole left no doubt that the Fed will continue to tighten rates in its titanic battle with surging inflation. The...
Chart showing that Personal Income doesn't lead consumer sentiment Green is income. Red is sentiment.
One of my oldest and favorite charts to monitor. As you can see from 2000 on everything changed. The equilibrium was disturbed and ever since we are all over the place. If you observed this chart In 2006/07 you would have known we were on an unsustainable path as the household debt was out of control. Fast forward to today and we once again find ourselves on...
This chart here shows Personal income, PCE, Corporate profits and Consumer credit securitized and outstanding. Here is your wealth gap. The urge for MOAR profit will be our undoing In my humble opinion.
MMT Keep printing for the "people's economy" who now have to "pay for it" through inflation.