A FULL two percentage points of US third quarter growth of 3.5% was down to stock building. Total US inventories grew by $76bn in Q3 following a $37bn contraction in the second quarter. The fourth quarter is always a period of destocking in the US and everywhere. This will combine with the big build-up in […]
Asian Chemical Connections
Another Round of Fed Stimulus Now Even More Likely
By John Richardson I am becoming more and more convinced that more of Albert Einstein’s definition of insanity – doing the same thing over and over again, but expecting different results – is on the way: A fourth round of Fed quantitative easing. This is the way in which I think this will happen: The […]
US Fed Reinvents 19th Century Boom And Boost Oil Markets
By John Richardson ONE way of looking at the world is that central bankers know exactly what they are doing as they are Masters of the Universe. These bankers have excellent degrees and doctorates from top universities bursting out their CVs, along with fantastic track records of rescuing the global economy, I have often been […]
Fed Policies Increase Emerging Market Poverty
By John Richardson THERE are 2.8bn people – 40% of the world’s population – who live on $2-10 a day. These people are “the fragile middle”, according to the Financial Times, as they are constantly in danger of falling back into poverty. And those risks have been greatly escalated by the policies of the US Federal Reserve. Here […]
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