The Growing Pains of Brexit, 50 Days In by Nick Corbishley • Feb 23, 2021 • 121 Comments The crucial services exports, manufacturing exports and imports, the arts & entertainment industry, fishing industry… it’s a mess.
US Trade Deficit in 2020 Worst since 2008, Goods Deficit Worst Ever Despite First Ever Petroleum Surplus. Services Surplus Drops Again by Wolf Richter • Feb 8, 2021 • 174 Comments But the Trade Fiasco with China was the least terrible since 2013.
Despite Terrible US Economy in 2020, Workers of Mexican Descent Sent Most Dollars Ever Back to Mexico by Nick Corbishley • Feb 4, 2021 • 91 Comments Against expectations, the feared plunge in remittances, as during the US Housing Bust, did not occur. For interesting reasons. Weirdest Economy Ever.
US Dollar as “Global Reserve Currency” amid Fed’s QE and US Government Deficits: Dollar Hegemony in Decline by Wolf Richter • Dec 31, 2020 • 299 Comments Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising.
Holy-Cow Spikes in China-US Container Freight Rates & US Consumer Spending on Goods Trigger Mad, Possibly Illegal Scramble for Empties. US Farmers Twist in the Wind by Wolf Richter • Dec 20, 2020 • 135 Comments US Federal Maritime Commission investigates container carriers’ “abandonment” of American agricultural industry. Weirdest Economy Ever.
Bracing for Impact: My View as British Expat Just Before Brexit by Nick Corbishley • Dec 14, 2020 • 104 Comments None of the gloomiest predictions of how a Hard Brexit could impact UK expats in the EU has come to pass. But there are complications.
All Container Heck Breaks Loose amid Flood of Orders from US Retailers to Supply Stimulus-Stuffed Consumers, Cancelled Sailings by Carriers, and Record Spiking Freight Rates by Wolf Richter • Nov 16, 2020 • 151 Comments While US Farmers Struggle to Find Empty Containers for Exports.
How Has the US Dollar Held Up as “Global Reserve Currency” During Q2 Turmoil? by Wolf Richter • Sep 29, 2020 • 94 Comments Declining Hegemony. But still Hegemony.
Powered by Stimulus & Rent/Mortgage Payments “Not Made,” US Trade Deficit Hits Record Worst Terrible Level Ever by Wolf Richter • Sep 29, 2020 • 89 Comments Not a sign of strength, but of big economic distortions.
World Trade Plunges. Here’s Why it’s Even Worse in Reality: China’s Deep-Fake Data Comes to Light by Wolf Richter • Jun 27, 2020 • 225 Comments But the downturn in the goods-based sectors started in 2018. US exports are now down 37% from that peak, imports down 25%.
