Post 198

A snapshot of what’s going on in the world’s economy.  Financial Ructions and book reviews can be a bit more technical so feel free to skip them.  See disclaimer at the end of this note.

PM: I may not post for a bit as I leave for the UK tomorrow: two weeks of steam railways, soccer games, country pubs and fish & chips.  I’ll see you in ten pounds.

Summary

  • More sellers of discretionary items reporting sharp declines in sales.
  • Tesla cars on sale.
  • Insurance prices are rising: Home and Auto.
  • More signs that the labour market in the US is weakening.
  • Credit card balances in the US hit a new record high: Over $1 trillion.
    • Despite the interest rate charged on credit balances also being at an all-time high.
  • Office property sector could be weak for some time.
  • Pressure building in the Canadian housing market.
  • The European money supply is shrinking
  • I start a new book review: The Mystery of Banking by Murray Rothbard.