Discover and read the best of Twitter Threads about #inflation

Most recents (24)

My 116 favorite quotes from Money: Sound and Unsound, by Joseph.T. Salerno (2015)
@jtsale @mises #AustrianEconomics #SoundMoney
1. “The idea of sound #money was present from the very beginning of modern monetary theory in the works of the 16th-century Spanish #Scholastics who argued against debasement of the coinage by the king on ethical and economic grounds”
J.T.Salerno
2. “It was #Fisher and not #Keynes who was the true founder of modern macroeconomics with its aggregative reasoning and its central notion of politically managed fiat money”
J.T.Salerno
Read 118 tweets
#OpportunityCost is the aggregate net cost of doing something, vis a vis 'not doing it' at all.

The initial project, option & prospect of #Brexit came with huge opportunity costs, which were too easily pre-discounted as #ProjectFear. 1/
The initial #Leave case, dramatised by the #BorisBus, contended that UK could save its £350m pw #EU 'gross membership contribution' and pass that 'saving' straight to the #NHS - as 'additional funding'. 2/
The #Leave case focused on saving UK's #EU gross membership cost in favour of #NHS.

It ignored regular #EU annual contributions back into a multiplicity of UK projects, which would obviously be stopped, if we ceased membership.
3/
Read 34 tweets
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. #Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
Read 142 tweets
1/6 As Powell puts in his recent speech, we are “in a world of slow global growth, low inflation, and low interest rates…" and "fac[ing] heightened risks of lengthy, difficult-to-escape periods in which our policy interest rate is pinned near zero.”
2/6 CF40 member Miao Yanliang mentioned in his book that, under a #fiscal policy framework, the #demographic change and pessimistic anticipation collectively contribute to the world characterized by LOW #inflation, LOW #growth and LOW interest rate.
mp.weixin.qq.com/s/6q8SJ9RHmrKh…
3/6 After the global financial #crisis in 2008, major developed countries faced pressure to reduce #deficits, #debt, and private sector #deleveraging. In this context, the macro-policy has shifted from the former #monetary dominance to #fiscal dominance. #macroeconomics
Read 6 tweets
1/ AT ONE TIME, EVERY PIECE OF #PAPER MONEY WAS BACKED BY #GOLD. REMEMBER… FOR EVERY 20 DOLLAR BILL… THERE WAS $20 WORTH OF GOLD IN A #GOVERNMENT VAULT. NOT ANYMORE.

TODAY, GOVERNMENTS CREATE #CURRENCY BY FIRST CREATING BONDS OR TREASURY-BILLS.
2/
THESE #BONDS ARE SOLD IN THE #MARKET… GENERATING FUNDS FOR THE GOVERNMENT THAT ISSUED THEM.

LARGE #BANKS BUY U.S. BONDS TO FLIP THEM… SELLING THEM TO THE #FEDERAL RESERVE AT A PROFIT -- THIS IS THE MAGIC MONEY MACHINE. #FED
3/ YOU SEE… THE FED IS AMERICA’S #CENTRALBANK. BUT IT DOESN’T HAVE ANY MONEY, NO #CASH ON ITS BALANCE SHEETS.

WHEN A BANK BUYS A BOND AND TAKES IT TO THE FEDERAL RESERVE, THE FED SIMPLY SAYS “THANK YOU MR. BANKER, HERE’S THE PRINCIPAL AND SOME #PROFIT.”
Read 12 tweets
Bad weather in the United States and disease in China are threatening food shortages globally and massive inflation. Our national security and stability is at stake over the next few years.
One of the biggest reasons inflation has remained so low over the past half decade is record growing seasons in the United States and Russia for #corn #wheat and #soybeans However this year is the worst season on record as cold, rainy weather delayed #plant19 by several weeks.
Planting progress for all three crops was beyond dismal this year. In fact, it was the slowest planting progress ever on record and many farmers simply chose to skip this year.
Read 21 tweets
Abro hilo con algunas lecturas -tanto texto académico como ensayo-, para empezar a entender mejor temas financieros y #monetarios. Abro con 4 clásicos contemporáneos de @GeorgeSelgin (#must). #money #libros
Otro clásico contemporáneo y quizás la mejor puerta de entrada a la materia para el lector español es "Dinero, crédito bancario y ciclos económicos" (@UnionEditorial1) de J Huerta de Soto (en inglés disponible PDF en @mises). #money #banking
La temprana Teoría del Crédito y del Dinero de L von Mises (1912), que parte de la base trabajos previos de Bhöm von Bawerk, y especialmente de "Capital & Interest" (1880s), están disponibles en PDF en @mises son los dos grandes pilates Ta moderna crédito y ciclos económicos.
Read 17 tweets
It is not #automation that scares people, it is #inflation. Might sound odd, but what I mean is that the promise of a fully (or at least a more extensively) automated future seems like a threat because modern currencies are fundamentally inflationary. When we work and save, the
purchasing power of our saved funds diminishes with time. This is not a natural state of things, as many nowadays would assume. It is created. The reason prices tend to go up over time is that money loses its purchasing power. If you think about it, shouldn't innovations and
competition mean we become more productive and thus can get the same benefits (goods, services) at lower cost? That is exactly what is happening, and it is evident in some industries like hi-tech (smart phones, tablets, PCs). Wherever there are private businesses producing and
Read 11 tweets
The HMF stated that through the implementation of the ERGP developed in 2017 by President @MBuhari’s administration, the Nigerian economy has achieved 7 consecutive quarters of GDP growth since exiting recession. #FinMinNigeria #ERGP
According to HMF, GDP grew at an annual rate of 1.93% in 2018 compared to 0.82% in 2017 representing an overall increase of 1.11% year-on-year. #FinMinNigeria #GDP
As part of President @Mbuhari’s administrations successful effort to diversify the economy, and deepen non-oil economic performance, the HMF reported a non-oil GDP growth of 2.70% as at Q4 2018 representing a 0.38% increase in growth compared to Q3 2018. #FinMinNigeria #Revenue
Read 6 tweets
#Predictions for the rest of 2019:
1. Trump’s #dementia worsens.
2. Try as he may, Bolton fails to start war with #Iran.
3. Democratic candidates pick up seats in #NJLeg #KYLeg #VALeg #MSLeg & #LALeg.
4. Bots from Iran/Syria/Russia will wreck havoc on the Internet one day by retweeting like a DOS attack.
5. #Brexit will be extended yet again until 2020.
6. Interest rates will spike, but corporate stock buybacks will continue to prop up the stock market until late in the year.
6. Due to Trump’s tariffs on Chinese goods, other countries raise prices opportunistically. #Inflation heats up on durable goods and many other products. (H/t to Art Leonard)
7. School shootings return as usual.
8. No #InfrastructureWeek happens.
Read 18 tweets
Hi #fintwit 😎 We are approaching a watershed moment in markets. Final deflationary phase of Kondratiev's winter is about to play out. Huge implications for #EUR, #Gold, #SP500, #DXY etc. I have some new interesting followers - hence something extra in this week's #HZupdates
#Kondratiev's winter is a period where #Velocity of Money drops which creates a disinflationary economic environment, where growth is subdued due to #debt levels. Since ~2000 we have been in this winter - and are still to see a range of "major economic events" unfold #HZupdates
In fact, we have never left the #Financial #Crisis. We have only been bouncing in the great "Financial and Sovereign Debt Crisis" of this #Kondratiev's winter. This can be observed from the #Deflation Gauges #Copper, #XAU, AUD, EUR. We are about to see wave C develop #HZupdates
Read 21 tweets
Ten #MMT tips to remember on #TaxDay:
1. Federal #taxes don't fund federal spending, so let's #decouple these two important tools.
2. Taxes offset #Government spending.
3. It's a matter of #logic: #dollars must be spent into existence (by the Gov) first, in order for us to use some of those $ to pay taxes
4. #Taxing for #revenue is for local states/municipalities, not the #sovereign issuer of the #currency.
5. Taxing excessive wealth protects #democracy from #Oligarchy and protects us from abusive market power
6. Taxing #pollution & #speculation to reduce such activities, not to "fund" #healthcare and #education.
Read 6 tweets
@INETeconomics By a chance, the article saying #MMT "theorists ignore how their policies could hurt developing countries" places #Ukraine currency #hryvnia (notes of 20 hryvnia's) as its cover picture.

1/n
@INETeconomics Btw, another time when #MMT-related literature opted by a mere chance to associate itself with #Ukraine's currency was the book 'Can "It" Happen Again?' written by Hyman Minsky (2nd ed published in 2016).

This time there is a jar of coins 5 kopecks each (5 #копійок).

2/n
@INETeconomics I am #Ukrainian, having a 22-year experience in the Ukraine's financial sector (1995-2017) and working full-day jobs first as bank officer doing debts/credits and then as research economist. I worked in the banking sector as well as in the non-banking financial sector.

3/n
Read 31 tweets
Inflation in terms of Gold: To me this puts everything in perspective
#inflation #federalreserve @DiMartinoBooth
1) in 1970 the minimum wage was $1.45 per hour and an ounce of gold was worth roughly $39 per ounce. So it took 27 hours to earn an ounce of gold.
2) 2019 minimum wage at $7.25 per hour and an ounce of gold at roughly $1,325 per ounce. This equates to 183 hours to earn an ounce of gold.
3) Todays Gold price of $1,325 per ounce divided by the 1970 hours to earn an ounce (27 hours) equals roughly $50.
Read 5 tweets
#GrowthSlowing #inflation
In the 12 months through January, the CPI rose 1.6 percent, the smallest gain since June 2017. The CPI increased 1.9 percent on a year-on-year basis in December.
reuters.com/article/us-usa…
#GrowthSlowing #fundflows
Money market funds recorded $21.38 billion in inflows to $3.040 trillion in the week ended Feb. 12. That was the highest level since the week of March 9, 2010, when assets totaled $3.067 trillion, according to data firm iMoneyNet.
reuters.com/article/us-fun…
Read 26 tweets
« des contre-vérités #économiques alimentent depuis deux mois, dans une sorte d'auto-empoisonnement psychologique, les colères, les frustrations et les ressentiments, justifiant les revendications financières les plus fantaisistes et les plus irréalistes » lepoint.fr/politique/gile…
« D'abord, la France y apparaît comme l'un des pays les plus égalitaires au monde. Un peu moins égalitaire, certes, que les pays scandinaves, mais beaucoup plus égalitaire que les pays anglo-saxons, les pays d'Europe du Sud, sans même parler des pays émergents. »
#Inégalités
« Enfin, contrairement à une idée très répandue et nourrie par les discours nostalgiques sur les Trente Glorieuses, la France est aujourd'hui bien moins inégalitaire qu'elle ne l'était il y a cinquante ans et infiniment moins qu'il y a un siècle (Gini était à 0,460). »
Read 14 tweets
$USD #liquidity
1/ While the US Dollar has pulled back in January it was not unexpected looking at net issuance by the US Treasury and the rate of change in excess reserves. Using a 3 month adv. on net issuance and excess reserves their may be further upside to the US Dollar.
$USD #liquidity
2/ There was a small uptick in global liquidity in December 2018 in rate of change terms. This has supported many markets that were oversold. However, there has been no sizeable change in trend. Will know more once January data is released.
#equities #liquidity
3/ If we have a closer look at the rate of change in the major central bank balance sheets we can see the contraction throughout 2018. The rate of change in the MSCI All World Index tracks it closely. Again notice the slight uptick in December 2018.
Read 59 tweets
#inflation #bonds $TLT
Charts from last night Australian time. Not updated for most recent ISM number.
1/
YoY% for average gasoline prices falling with the US 10 year yield YoY% and CPI YoY% following.
#USA #growthslowing
2/
US leading economic index YoY%, GS US financial conditions, and the St. @stlouisfed financial stress index all pointing to lower real gdp numbers for the US economy.
#USA #growthslowing
3/
If we advance GS financial conditions forward by 3 months it is likely that real GDP growth and leading economic indicators continue to track lower.
Read 12 tweets
Today we release our annual @wiiw_news Autumn #Forecast Report, with macroeconomic projections for #CESEE out to 2020. Below, a thread on the highlights 1/13
#Growth still looks quite good for most, notable upgrades this time for #Poland, #Serbia, #Hungary. But downgrades for several #EU members, plus #Turkey, #Macedonia and #Belarus. 2/13
Over the #forecast period we expect best growth performance in #EUCEE and #WesternBalkans, although both will slow by 2020. Outlook for #CIS & #Ukraine weaker. 3/13
Read 14 tweets
Global #inflation rates according to the IMF's website (link in thread). The immigration crisis everyone keeps ignoring isn't going away. Things will get worse. MSM politics has got everyone looking the other way.

Trump already talking about militarizing the border (link below).
IMF Inflation data: imf.org/external/datam…
Militarization of the border:
npr.org/2018/10/20/659…
Read 3 tweets
Read 4 tweets
Thread 100% subjectif pour recenser les meilleures taglines de films qu'on aurait trouvées TROP COOL quand on avait 13 ans. Mise à jour aléatoire.

TRAHI PAR LES SIENS. SAUVÉ PAR SES POINGS. - Fist of Honor
CYBER-ESPACE OU MONDE RÉEL, SEUL LE KICKBOXING PEUT SAUVER LA PLANÈTE - Grid Runners
LE CRIME EST UN POISON. VOICI L'ANTIDOTE. - Cobra
Read 306 tweets
@EmmaMuhleman1 @jameshenryand @michaellebowitz @SantiagoAuFund @dlacalle_IA @DA_Stockman @RonPaul @RonPaulInstitut @MarkTOByrne @MarkYusko @ErikSTownsend @Halsrethink @AndrewBellBNN @JayTaylorMedia @realDonaldTrump @LouDobbs @Varneyco @MariaBartiromo @gatewaypundit @JeffSnider_AIP @TruthGundlach @epomboy @TFMetals @PaulCraigRobert @LanceRoberts @TheBubbleBubble One important difference in the cycles is that low interest rates steadily build-in distortion to the economy over time while the tightening cycle (esp. a rapid tighten) precipitates failures that quickly cascade through the economy. Criticality theory.

#EndTheFed
@EmmaMuhleman1 @jameshenryand @michaellebowitz @SantiagoAuFund @dlacalle_IA @DA_Stockman @RonPaul @RonPaulInstitut @MarkTOByrne @MarkYusko @ErikSTownsend @Halsrethink @AndrewBellBNN @JayTaylorMedia @realDonaldTrump @LouDobbs @Varneyco @MariaBartiromo @gatewaypundit @JeffSnider_AIP @TruthGundlach @epomboy @TFMetals @PaulCraigRobert @LanceRoberts @TheBubbleBubble "I speak to more than a dozen ceos every single week. They all had high hopes. No longer."

"It changed in the last six weeks."

Anecdotes, but expected.

The Fed builds dysfunction into the economy with low rates - it shows when rates rise.

#EndTheFed

cnbc.com/2018/10/09/cra…
@EmmaMuhleman1 @jameshenryand @michaellebowitz @SantiagoAuFund @dlacalle_IA @DA_Stockman @RonPaul @RonPaulInstitut @MarkTOByrne @MarkYusko @ErikSTownsend @Halsrethink @AndrewBellBNN @JayTaylorMedia @realDonaldTrump @LouDobbs @Varneyco @MariaBartiromo @gatewaypundit @JeffSnider_AIP @TruthGundlach @epomboy @TFMetals @PaulCraigRobert @LanceRoberts @TheBubbleBubble Cramer's relay of plunging CEO sentiment fits w/ sudden dive in Consumer Metrics 'Weighted Composite Index' starting in September.

consumerindexes.com

A sharp break to be expected after years of zero Fed rate and then increased Fed rates. Criticality Theory.

#bonds #gold
Read 15 tweets
#TooGoodNotToShare ...
#Rule72
What is Rule 72?
In personal finance, if you divide the number 72 by the rate of interest, you get to know the number of years it will take for you to double the money..
Eg: if the rate of interest is 9%, simply divide the number 72 by 9 and the answer is 8. Thus it will take 8 years to double your money if you invest at 9% p.a. rate of interest.
#INTEREST
We can use this rule in reverse to know the rate of interest needed to double your money to achieve your set goal.
Read 6 tweets

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