Adeptly managed by the central bank and the government, the Argentine peso has been plunging in perfect form, an activity it is very, very good at.
Over the long run (which is now), the math of that distortion just doesn’t work out.
Consumers are “straining against rising prices on daily essentials” and are cutting back on things they want to buy.
Since rents aren’t fully reflected in the Consumer Price Index, we’re behind the curve. And the Fed, which relies on the PCE index, “won’t even see the curve,” says Lee Adler in this must-see video (and chart) that raised my blood pressure.
Boeing got more orders in the first quarter than archrival Airbus. So at the ILA Berlin Air Show, Airbus CEO Fabrice Brégier spoke up against this ridiculous injustice. True to his Frenchness, he exhorted the ECB to do what central banks are supposed to do.
It happened at a private meeting with top lawmakers in Germany during a two-day shindig.
By Dr. Bryan Taylor: Europe was on a bimetallic standard, not a Gold Standard, from the Middle Ages until World War I. Gold triumphed in the 19th century because bimetallism had failed. This should have been taken as a sign that the gold standard too would inevitably fail.
There is nothing like a wealthy central bank chief admitting that he wants to, one, help governments default gradually on their debts; and two, cut the real wages of workers. An honesty the Fed never dared to exhibit when it inflicted waves of QE on American workers.
I’m a coffee lover, and this is getting personal: our latte, espresso, or just plain good coffee is going to bite fiercely into our already mauled pocket book. In one crazy chart.
Historically speaking, Argentina is really only unquestionably the best at one thing: creating and then surviving economic crises.