Five months have passed since the demonetisation drive, but the people of India continue to face a shortage of cash in banks and ATMs. The Times of India reports that more than 90% of the ATMs in the northern region do not have cash, and in the southern states as many as 65% of ATMs have run dry.
After seeing and analyzing a fresh batch of macro-economic data, Danske Bank now thinks there are an increasing amount of signs the global business cycle is peaking as the US car sales and US personal spending fell short of expectations. The so-called ‘Trump factor’ (or ‘Trumpflation’) is losing steam, and perhaps even more important, the rate hikes we recently saw in the USA already have a huge impact on the American economy.
Via Global Macro Monitor blog,
We have been busy crunching some very interesting data on pension funds from the most recent Federal Reserve’s, Flow of Funds Accounts. Check out the charts below.
Interestingly, the last time Private and State & Local Government Pensions were fully funded was at the end of the stock market bubble in 2000. Pensions were 25 percent overfunded in 1999.
By Chris at www.CapitalistExploits.at
Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing.
Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity.
Last February, as Chinese stocks and the Yuan were crashing every day, sending the S&P tumbling and government bond yields crashing to record lows, in the process aborting the Fed's first attempt to hike rates, volatility was soaring and confidence in the economy was in the dumps: in short, the bottom appeared like it was about to fall off.