Post 201

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.

Summary

  • Grocery store sales may finally be at an end in terms of raising prices.
    • Lower-income families are feeling the pain of higher interest rates and higher prices.
  • Cruise line industry is booming and the number of passengers this year is expected to eclipse that of 2019.
  • A bit on those “best by” dates on food packages and how it contributes to significant wastage.
  • US home listings are down significantly as people can’t afford to move because their mortgage payments will rise significantly.
    • Others may be hoping peak prices from last year will return.
      • US home prices were down 13% from the end of last year to June 30th this year (St. Louis Federal Reserve).
  • Canada may already be in recession and in particular on a GDP per capita basis (spending per person).
  • In Financial Ructions, David Malpass has another go at central banks.
    • PM: Good man.
  • Another chapter review of Rothbard’s The Mystery of Banking