Non-official sources show inflation seems to be in the retreat. US retail data on Tuesday should confirm or deny that and will set the scene for interest rates going forward. Meanwhile, the copper-gold ratio is signalling weakness in the real economy.
We’ve already got banks in the US going bust because they hold too many government bonds. Government bonds that are supposed to be risk free. But they certainly aren’t when central banks are hiking rates so rapidly.
It has been a few years since we took a close look at Modern Monetary Theory (MMT). We first sounded the alarm in 2018 and warned readers again in 2021.
ASX flat. US producer price index cools as jobless claims rise. Bank of England raises rates 25bp to 4.5%. News Corp and REA flag tough trading conditions.
ASX flat. US producer price index cools as jobless claims rise. Bank of England raises rates 25bp to 4.5%. News Corp and REA flag tough trading conditions.
‘Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children…’
Dwight Eisenhower, 1953
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