Post 210

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

  • 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.
  • US inflation seems to be stalling at the 3-4% range.
  • As things stand, US Social Security will be insolvent in 11 years and by law that would require a 23% benefit cut across the board.
  • US gas prices continue to fall with demand.
  • China’s economy is still struggling.
  • A quick Elton John quiz
  • And a fair bit in Financial Ructions