Fed’s Waller wants more evidence inflation is cooling before cutting interest rates
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts. […]
David Friedman on the Contributions of Immigrants
In a recent substack post, David Friedman points out a problem with judging immigrants solely by their fiscal impact. His analysis is so clear that it’s worth reposting part of it. Here it is: What is bizarre about [Emil] Kierkegaard’s argument is that he identifies fiscal impact with contribution to society, writing, on the basis […]
Germany’s housebuilding sector is ‘in a confidence crisis’
A construction site with new apartments in newly built apartment buildings. Patrick Pleul | Picture Alliance | Getty Images Germany’s housebuilding sector has gone from bad to worse in recent months. Economic data is painting a concerning picture, and industry leaders appear uneasy. “The housebuilding sector is, I would say, a little bit in a […]
Links 2/23/2024 | naked capitalism
Silence of the wolves: How human landscapes alter howling behaviour Monga Bay Meet one of NYC’s largest new residents: The fin whale Gothamist Partying Like 1999? An NBubble Isn’t Here John Authers, Bloomberg. Key point: “There’s relatively little evidence of excessive use of leverage within financial markets, even if higher rates aren’t yet slowing down […]
Realism, Restraint, and Prudence Needed in American Foreign Policy
Flags of both the EU and Ukraine. The world is in turmoil. The war in Ukraine grinds on, with persistent calls for the United States to continue supplying Ukraine’s war effort. China may be poised to invade Taiwan in the coming years and assert its ambitions throughout the South China Sea and elsewhere in East […]
Unleashing the Power of Free Markets
First car with an internal combustion engine. Benz Patent-Motorwagen, 1885. Four hundred years ago, King James I of England convened his last parliament, the most significant and enduring legacy of which was the “Statute of Monopolies.” This act was both a restriction on royal prerogative and the beginning of legal protection for patents and intellectual […]
Market Talk – February 22, 2024
Posted Feb 22, 2024 by Martin Armstrong | Global Currencies • EURUSD advanced 0.0012 points or 0.11% to 1.0825• GBPUSD advanced 0.0034 points or 0.27% to 1.2661• USDCHF decreased -0.0007 points or -0.08% to 0.8811• AUDUSD decreased -0.0001 points or -0.02% to 0.6552• NZDUSD advanced 0.0017 points or 0.28% to 0.6198• USDJPY advanced 0.21 […]
Man Does Not Live By Food Alone
In my previous post, I snacked on a popular meme about self-sufficiency in food. The creator of the meme–to their credit–recognized the problem of “do it all yourself,” but failed to recognize the limits of their reasoning. If you follow the logic to its conclusion, the result is surprising. I drew upon the wisdom of […]
