More commentators are realising that we are dealing with a housing crisis. The UK and Canada are expected to lead the way in terms of companies filing for bankruptcy protection. Home sales in Canada are down, but prices are up year over year. Germany is in recession. Falling birth rates in developed economies are unmasking the ponzi-like structure of government (taxpayer) funded programs that are an intergenerational transfer of wealth…

Pepsi and Carrefour revisited. More evidence of essentials doing well and non-essentials suffering. A short Xerox history lesson: don’t copy Xerox.
UK employment company Hays is seeing significant weakness in hiring. The declines in US inflation (disinflation) may be stalling. But it’s getting cheaper to fly: airline tickets down over 9%. Electric vehicle used car prices are down almost 30% in the US. US warehouse vacancy rates are rising…

The US is still creating a lot of new jobs. Many of them in government. Job growth in Canada has flattened despite a still soaring population. Core inflation in Europe slowed a bit, but headline inflation was up and food inflation remains elevated. Thanks in part to Pepsi? Vittles is another word for food: you’ll see. The UK will be short of the diabetes drug Ozempic until the end of 2024 as so many non-diabetic people are taking the drug for weight-loss…

Not a lot of companies are reporting results, but that will change soon. More evidence that the industry is slowing. More layoff announcements: this time from Xerox. The boom in electric vehicles might be slowing with prices coming down. However, the boom in government hiring continues. This is really bad for the economy. China continues to slow. Meanwhile, prices in Europe seem to be rising again. A review of F.A. Hayek’s Road To Serfdom…

Just before the Financial Ructions section, I’m going to start adding some comments from my old Ivy Quarterly Reports that I used to write for our clients. People are cutting back on some discretionary items like sneakers. But still lining up at Starbucks. Core inflation in Canada has now risen two months in a row. Corporate bankruptcies in the US and Europe are on the rise. Stock markets are far outpacing growth in the economy…

More evidence that Europe may already be in recession. Canadians are setting new debt records. Discount stores continue to benefit from shoppers trading down for essentials. Americans have cut back on buying furniture and gardening equipment. But still going out to eat and drink. People are finally starting to accept that nuclear energy could be the answer to environmental concerns. A suggestion for dealing with Canada’s housing crisis…

Toy sales in the US are very weak. Businesses in Canada are increasing their usage of credit cards and credit lines. Prices continue to fall in China. Rents may have peaked in the US. Retail spaces in the US are shrinking, yet vacancy rates remain at very low levels. The median home in Toronto is far out of reach of the median income. It’s four times what the median income could afford. In Financial Ructions I go on a couple of rants…

More tech layoffs. More evidence that consumers are cutting back on discretionary purchases. US job numbers were again strong with Healthcare and Government hiring leading the way. More on the intergenerational wealth transfer from our kids to us and what to do about it, at least from my perspective. Journalists are being killed at an alarming rate. Some potential good news on beer for those of us living in Ontario…

The first Paulitical Economy™ poll: Pollitical Economy. More layoffs are being announced and job vacancies are falling. I’ve noticed more articles about the necessity of somehow getting governments to show at least some form of fiscal restraint: Good luck with that. Higher interest rates are slowly but surely squeezing the economy. Many in the real estate industry are demanding lower interest rates in order to drive expensive housing prices even higher…

Victoria’s Secret sales have been falling for almost two years. Employment in Canada is steady, but unemployment is rising as immigration numbers outpace job creation. Many prices are either disinflating (still rising, but doing so at a slower pace) or are in outright deflation. But even those prices still tend to be significantly higher than pre-COVID. Some arrogant economists and journalists think that consumers are too stupid to realise how good their financial situation is…

Discretionary purchases are still falling. Canada’s economy has started to contract. Pubs in the UK are closing. Transportation of stuff is falling on the road and on the high seas. More evidence that global demand for oil is slowing. Older males (75+) are almost 10x more likely to commit suicide than older females. Billionaires are doing just fine. People still want to work from home but some have other reasons than work productivity for wanting them back in the office…

You can’t keep burgers down (I can). More evidence that consumers are foregoing discretionary purchases and focusing on essentials. Used car prices in the US are falling, but they’re still far above pre-Covid levels. Core inflation in Europe is falling but remains high. More people are pointing to the unfairness of “something from nothing” government and economic policies. If you take more capital from society than you produced, then someone else is footing the bill. End of story…

A bit more price over volume. Some retail store credit cards charge interest of over 30% Home affordability in the US is the lowest in almost 40 years. Live concerts are becoming very expensive. Americans are still shopping…

Job growth is being boosted by government hiring, which is nonproductive. Electric vehicle prices have been falling this year and inventories are rising. Some sharp drops in luxury home prices in Miami, but from very high levels…

LVMH is struggling in the US with its cognac and spirits business falling at a double-digit rate. Some early signs of hope for renters in the US. Ozempic does it again. The property situation in China continues to worsen…