Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
What follows are six questions and answers that were wedged between cocktails and a dinner hosted by Karl J. Feitelberg, Founder and Chairman of Sterling Resources Ltd. at the Castle Hill Inn, Newport, R.I. on July 24, 2017.
1. Question: What were the two greatest economic catastrophes in the U.S. of the last 100 years?
The paradox of the US stock market continued for yet another week, because according to Bank of America citing EPFR data with the S&P effectively at record highs, US equity funds have suffered their longest outflows streak in 13 years, as investors pulled out another $2.6 from US stocks in the week ending Wednesday. That brings total outflows since late June to $30 billion, as investors allocated $36 billion to the rest of the world.
A day after Amazon revealed its plans to cut prices at Whole Foods Market following the completion of its takeover on Monday – an announcement that obliterated billions of dollars’ worth of food suppliers and rival grocers’ market capitalization - Bloomberg is reporting that WFM’s rivals are mulling an incredibly difficult choice: Whether to follow suit and cut prices in one of the few segments of the food market that’s actually growing, or hold the line against their high-tech rival and risk being undercut into oblivion.
Authored by Kevin Muir via The Macro Tourist blog,
Today is the day. Both Draghi and Yellen speak later at Jackson Hole. Although expectations for market moving news have been damped down, the market might be getting a little too complacent.
Global markets are stuck in a holding pattern with S&P futures up modestly after fluctuating overnight, as European and Asian shares rise with oil while the dollar has dipped lower ahead of the biggest central bank event of the year: the Fed's Jackson Hole symposium where Janet Yellen and Mario Draghi will speak at 10am and 3pm ET, respectively. Meanwhile, world stocks drifted toward their best week in six on Friday, as a near three-year high in emerging markets shares and a roaring rally in industrial metals bolstered the year’s global bull run.