Post 215

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

  • You can’t keep burgers down (I can).
  • More evidence that consumers are foregoing discretionary purchases and focusing on essentials.
  • The German economy is contracting yet core inflation is still over 4%.
  • Used car prices in the US are falling, but they’re still far above pre-Covid levels.
  • More price over volume.
  • Core inflation in Europe is falling but remains high.
    • Although some countries are actually experiencing headline deflation.
  • US job numbers keep being revised lower.
  • 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.
  • In Financial Ructions:
    • More trouble in China.
    • Japan further relaxes yield curve control.
  • The next chapter review of Murray Rothbard’s The Mystery of Banking.