What’s going on? The International Energy Agency (IEA) cut its forecast for global oil demand, despite the recently announced vaccine. What does this mean? Oil’s price has been rising since Pfizer and BioNTech reported the success of their coronavirus vaccine trial, renewing hopes for an uptick in demand. But the IEA doesn’t expect demand to rise significantly till late…
Tag: economy
Journal Report 10: The big picture of the Rise and Decline of the Economy
Introduction This post gives a description of the cause-effect relationships behind the rise and decline of the most powerful empires. It is the author’s distillation of the dynamics he saw in studying the 3 reserve currency empires (the Dutch, the British, and the American), the 6 other significant empires (Germany, France, Russia, India, Japan, and China), and…
Ep 104: Feeling Faint
What’s Going On Here? The oil price suffered its biggest drop in almost 30 years, after Saudi Arabia unexpectedly flooded the market! What Does This Mean? Oil is caught in the middle of two at-odds countries right now. On one side, there’s Saudi Arabia – the biggest producer of the OPEC. And on the other, Russia…
Journal Report 4: The British Pound As Brexit Approaches
What’s going on here? When it came to the switch from currencies to the euro, the Germans gave up their Deutsche mark, the French franc disappeared, and the Dutch guilder was no more, the Greeks gave up their drachma, and the Italians retired the lira. However, the British pound remained the currency of choice for…
Ep 95: US companies suspend China operations, restrict travel as coronavirus outbreak spreads
What’s going here? Disney, McDonald’s, Starbucks and other U.S. companies with significant exposure in China are suspending operations as response to the outbreak of the coronavirus. The municipal government of Shanghai also issued a notice ordering companies not to resume work after the CNY holiday until Feb. 3, instead of Jan. 31. The virus has…
Ep 94: Sorry, We’re Closed
What’s Going On Here? Investors ditched their stocks on Monday, as the deadly coronavirus continued to disrupt the Chinese – and global – economy. What Does This Mean? Chinese authorities confirmed on Monday that the virus has killed 80 people and infected almost 3,000 more. And they warned its spread could accelerate with the millions…
Ep 88: Trim Pickings
What’s Going On Here? The International Monetary Fund (IMF) trimmed its growth forecasts for the global economy, but it also softened previous risk warnings. What Does This Mean? The IMF now expects the world economy to grow 3.3% in 2020 and 3.4% in 2021, down from previous forecasts of 3.4% and 3.6%. Still, that’d represent a…
Ep 86: Positive Signs
What’s Going On Here? The US stock market hit even higher record highs, putting investors well on track for a positive January return, suggesting a good new year too… What Does This Mean? The “January effect” is a phenomenon whereby stocks typically rise at the start of the year – and data shows that if that momentum…
Ep 85: Year Of The Rat
What’s Going On Here? New data confirmed that the Chinese economy was fastened in 2019 – but shrewd investors might hope it’ll scurry ahead during the upcoming Year of the Rat. What Does This Mean? China’s economy grew 6.1% in 2019: its weakest year since 1990. It blames trade war with the US, and as tensions…
Ep 80: On The Pull
What’s Going On Here? With Germany’s unemployment rate unexpectedly falling in November, the country might now dig its heels in more than ever against the European Central Bank (ECB). What Does This Mean? The ECB has long been calling for Germany to boost its economy through extra public spending, but positive unemployment data might give the country’s…
with HT 