I’m fundamentally a deflationist at heart on the question as to how this mega moral hazard bubble finally resolves itself. This, in spite of the strong sudden explosive rise in the December US household measure of employment, (which has brought the smoothed household survey job growth up towards the stronger payroll survey job growth and seems to point toward further rate rises being engineered by the Federal Reserve as we move forward in 2016).…Naked Capitalism
Marshall Auerback: What US Treasury Yields Might Be Signalling
Marshall Auerback, a market analyst and Research Associate at the Levy Institute
2 comments:
"will put a floor on the “death by a thousand cuts” outflows to their currency, as well as helping to stabilize their dwindling foreign exchange reserve position once and for all."
From a USD perspective they are slightly up YoY thru Oct:
http://ticdata.treasury.gov/Publish/mfh.txt
From an oil perspective they are victims of the OPEC monopolists too so if they have to pay for their imported oil in USDs then since the oil price has been cut into a third of what it was then they spend less in USDs for their oil too just like we are currently..
This oil price reduction decreases rents and the economy can broaden out as income is constant to slightly increasing... so we see hiring picking up, etc...
Meanwhile MENA and South America (ie OPEC assholes) are in chaos.... Russia seems to be dealing with it better....
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