India

Are Rate Hikes Bad For Gold?

Gold does not necessarily rise and fall with interest rates, jewelry demand in India, or any other widely believed nonsense. Rather, gold has moved in conjunction with perceptions as to whether or not the Fed and central banks have everything under control.

Frontrunning: February 23

  • Trump to Brainstorm on Job Policies With Corporate CEOs (BBG)
  • Border-Adjustment Tax Divides Energy Sector (WSJ)
  • French Bonds Rally After Macron Boosts Presidential Campaign (BBG)
  • Boeing Fighter Jet, Feared Dead, Gets New Life From Trump Tweets (BBG)
  • Treasury Secretary Steven Mnuchin Sees Tax Overhaul by August (WSJ)
  • Why Mexico Is Trump’s First Line of Defense on Immigration (BBG)

Could Trump's Immigration Ban Cause Another Housing Crash?

"If Trump gets the immigration plan he wants, the housing market will get hit harder than any other. If millions of people get deported and more people don’t come in to take their place, then you’ll have downward pressure on home prices, especially in urban areas."

Oops! The Economy Is Like A Self-Driving Car

The economy can grow (just like a self-driving car can move forward) (1) if workers can make an increasing quantity of goods and services each year, and (2) if non-elite workers can afford to buy the goods that are being produced. If these workers find fewer jobs available, or if they don’t pay sufficiently well, it is as if the engine of the self-driving car is no longer working.

Google Nation - Visualizing The World's Most Valuable Brands

The world’s most valuable brand is owned by a company that you likely interact with every day. In fact, you may have even gotten to this web page using it. That brand is Google – and it dominates the internet with a 64% market share in search, while generating 41% of all digital advertising revenue globally...

Red Hysteria Engulfs Washington

It’s sickening watching the arrant hypocrisy and windbaggery in Washington over alleged Russian espionage and manipulation. The US has been buying and manipulating foreign governments since 1945. We even tapped German Chancellor Angela Merkel’s cell phone. This week Wikileaks issued an intercept on CIA spying and manipulation of France’s 2012 election. We live in a giant glass house.

There's Not Nearly Enough Growth To Keep Growing

This turn inward - protectionism if you will - in the UK, US and many other places, is an inevitable development that follows from declining growth and soaring debt. Entire societies will have to be re-built from the ground up, and people will want to do that themselves, not have it dictated by strangers. At the same time, of course, those who profit most from centralization want that to continue. They can’t, but they will try, and hard.