Paulitical Economy™
A snapshot of what’s going on in the world’s economy.
Paulitical Economy™
Post 353: A New Fed Chair and an Old Problem: Money, Markets, and Division
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Paul Musson
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- Politics in the U.S. is significantly more divided than back in the 1950s/60s.
- But the country is not divided because of the politics.
- The politics is divided because of monetary policy.
- But the country is not divided because of the politics.
- Dick’s Sporting Goods continues to have impressive sales growth.
- They have bought Foot Locker which had been struggling for some time.
- French luxury goods company LVMH is still experiencing weak sales growth.
- Particularly in wine and spirits.
- Nike finally halts its sales declines.
- And growing strongly in the U.S.
- In Financial Ructions:
- The big and important news is that Kevin Warsh has been nominated as the next Fed Chair.
- I quote extensively from a recent op-ed and from three of my previous posts.
- How the Canadian government suppresses mortgage rates, contributing to the housing affordability crisis.
- Investment in the private sector in the U.S. has been declining.
- Primarily due to the Federal Reserve and the financialization of the U.S. economy.
- The 60 day delinquency rate on subprime auto loans is hitting all-time highs:
- Yes, higher than the GFC.
- The big and important news is that Kevin Warsh has been nominated as the next Fed Chair.