Margaret Thatcher: The Woman Who Saved Great Britain

Niall Ferguson

You’ve heard her name. You might even have seen a film about her. Bhttps://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/ut do you know the whole story of Margaret Thatcher – where she came from, what she stood for, and the impact she had on Great Britain and the world? Renowned historian Niall Ferguson explains how the Iron Lady earned her status as one of the most important and influential women of the 20th century.

Please watch the VIDEO.

CONTINUE READING –>https://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/

Statistical Misdirection

By Alasdair Macleod – Re-Blogged From Gold Eagle

Economists who understand credit cycles expect the current cycle to enter its crisis stage at any moment. Furthermore, it combines with increasing trade tariffs between the two largest economies to echo the conditions that led to the 1929-32 Wall Street crash and the subsequent depression.

With the dollar tied to gold, there was no doubt about how the collapse in demand affected asset, commodity and consumer prices ninety years ago. If the turn of the current cycle leads to a similar outcome, it is unlikely to be properly reflected in official statistics for GDP.

This article explains why GDP is a statistical fallacy, and the use of an inflation deflator is not only inappropriate but has been manipulated to produce an outcome that wrongly attributes success to monetary policies. Therefore, if an economic slump follows the coming credit crisis, it is unlikely to be reflected in these key government statistics.

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Manufacturing Goes Deeper Into Recession

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

The ISM Manufacturing Index fell 0.2 point to a reading of 48.1 in November. However, gold struggles to find momentum. What is going on exactly?

U.S. Manufacturing Sector Slumps Further

The Institute for Supply Management announced that its index of national factory activity dropped from 48.3 in October to 48.1 last month. The number was below expectations and it also remained below the 50 threshold, indicating contraction – shrinking for the fourth straight month. In other words, the manufacturing sector is still in recession.

We all know that. But what about the future and the broad economy? Well, situation looks better here, as the ISM index remains above the 42.9 level, which is associated with a recession in the broader economy. And the recent improvement in China’s PMIs prompt some to say that the ISM is bouncing along the bottom. Moreover, the strike at General Motors is over, while Boeing hopes to resume deliveries of its 737 MAX.

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Holiday Sales May Be Missing In Action

By Dave Kranzler – Re-Blogged From Silver Phoenix

I’m sure most of you are inundated with “Black November,” “70% off” and “clearance” email promotions from the usual cast of brick/mortar/online chain retailers. It started with my inbox in October.   This is because retailers are terrified of what could be one of the worst holiday spending seasons in years.

The mainstream financial media, planted with sound-bytes from Wall Street snake-oil salesmen, have already created this year’s “the dog ate my homework” excuse for poor holiday spending with the absurd notion that the period between Thanksgiving and Christmas is shorter this year.  Quite frankly, I would not be surprise if many households used Amazon’s Prime day and easy Amazon credit lines offered to buy holiday gifts early this year.

Speaking of AMZN, it warned that its expected holiday sales would be lower than previous guidance.  And Home Depot lowered its Q4 revenue estimates for the second time in three months.

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The Perversity Of Negative Interest

By Keith Weiner – Re-Blogged From Gold Eagle

Today, we want to say two things about negative interest rates. The first is really simple. Anyone who believes in a theory of interest that says “the savers demand interest to compensate for inflation” needs to ask if this explains negative interest in Switzerland, Europe, and other countries. If not, then we need a new theory (Keith just presented his theory at the Austrian Economics conference at King Juan Carlos University in Madrid—it is radically different).

Perverse Inventives

Second, negative interest perversely incentivizes some very perverse behaviors.

For example, suppose you could borrow at -1% and just hold the cash. Your asset stays the same, while your liability is going down. You are making a positive return for doing nothing productive! It should be obvious to an 8th grader, though perhaps not a PhD economist, that there is something wrong with this. Grossly, monstrously wrong.

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CalEPA Studying Ways to Sunset the California Economy

By Ronald Stein – Re-Blogged From Fox and Hounds

Founder and Ambassador for Energy & Infrastructure of PTS Advance, headquartered in Irvine, California

Tuesday, November 12th, 2019

California is about to take one giant step toward following Germany’s failed climate goals which should be a wake-up all for governments everywhere. Yes, you guessed it, our legislatures have authorized CalEPA in the 2019 – 2020 California State budget and Assembly Bill AB 74 to conduct studies and identify strategies to manage the decline of in-state crude oil production and decrease demand and supply of fossil fuel.

Germany tried to step up as a leader on climate change, by phasing out nuclear, and pioneered a system of subsidies for industrial wind and solar that sparked a global boom in manufacturing those technologies. Today, Germany has the highest cost of electricity in the world.

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Party On Wall Street!

By Rick Ackerman – Re-Blogged From Silver Phoenix

What are we to make of Wall Street’s exuberance on Friday over news concerning a U.S. economic expansion that refuses to die? Employers are hiring, consumers are spending and business is humming despite a dramatic economic slowdown in Asia, Europe, South America and elsewhere. Perhaps America really is an economic island, one blessed with unstinting support from a central bank that has finally succeeded in taming the business cycle?  If you are too young to remember the last three or four recessions, you might actually believe that things are different this time.

Wall Street Journal columnist David Harrison evidently does. Judging from his picture, Harrison appears to be no older than 30, so we can perhaps forgive him for suggesting, to borrow Prof. Irving Fisher’s immortal declaration, that economic equilibrium appears to have reached a permanently high plateau.

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