Walk The World
Big moves on the US$ ahead of the upcoming CPI data has cast a long shadow over the markets. And later we will also see the moves from New Zealand and Canada regarding further rate hikes.
Meantime, the US results season, and more COVID suggests a recession is becoming more likely, as the main gas pipeline to Germany is cut due to scheduled maintenance. And crypto falls some more.
A big week of market news!
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NZ cash rate is now 2.5%
Raised by 0.5
Are we watching Brent Jonson's Dollar milkshake theory take place?
Maybe another Plaza Accord could be on the cards?
Holy crap, some of those stocks have cratered from previous highs. I didn't realise how much of a drop it has been.
NZ reserve Bank has done it already. Just today. Raised 50pc to 2.5. This thing is gonna sting.
Great video update! Martin could you please interview Brent Johnston about his Dollar Milkshake Theory?
This is where your Luddite macroeconomists are baffled and your bald buffoon left wailing "The End of the World is Nigh". Why does the US dollar have to show strength now? Perhaps because its international reserve status is being seriously challenged by… … Russia. Dollars need to return to the Fed balance sheet when they are aren't needed to finance global trade lest they do what? Raise the price of other stores of wealth, perhaps?
A US dollar under threat needs a return corresponding to that threat to maintain faith in it. Ain't rocket science, but it ain't mundane 'macroeconomics' either.
Inflation, Mr. North is only a part of this problem. Macroeconomics collapses the dimensions in which it is grasped, which is why even competent macroeconomists fail to explain it (to say nothing of the clowns in your circus). A rising gold price would, by the way, undermine the the US dollar as a store of wealth in the midst of its assault as the transactional currency in global energy markets. Hence, perhaps this is why we're seeing more derivative magic being cast to keep its price under 'control' at the moment.
You see, the world is not straightforward if you start thinking, is it Mr. North? See you in September for Garfield and Odies Judgement Day.
Looks like my A$ are to be worthless 🙃
5.18 hit the nail on the head , at least some people know it is the buyers who create inflation ,
if we stop buying , the inflation will become deflation ,
as, to be in business you need a customer , no customer , no business
The FED might have overshot the interest rate rises, and if the recession is already current, rates could drop, but I think that will be slower!
Slow train wreck, where is the bottom everyone is saying in the financial world!
Excellent update thanks Martin – especially on the CBDC. Guess the sandbox phase is over – time to crash crypto so the central banks can save the day with their global currency. End of freedom
lWhy is NZ dollar the same as Aus bucks?