This post should be called “Five Charts And A Warning“.
- Manufacturing PMI fell to the lowest level since December.
Continue reading Five Charts That Show The Eurozone Slowdown
All posts by Daniel Lacalle
Is China A Currency Manipulator?
The US administration has avoided the debate on currency manipulation in the past years due to the impact of the financial crisis. Why? Because all major economies have tried to solve their imbalances through the same policies: massive liquidity injections and currency debasement. Currency wars were denied, but the “beggar thy neighbor” policy of the $20 trillion global monetary expansion is undeniable. Continue reading Is China A Currency Manipulator?
Italy’s Problem Is Not The Euro, It’s Political Spending.
The Italian government has created another massive turmoil in European markets with its 2019 budget proposal.
With a huge increase in spending, it estimated a deficit of 2.4% for 2019 compared to its previous target of 0.8% and the 1.6% announced by the finance minister. Continue reading Italy’s Problem Is Not The Euro, It’s Political Spending.
Brazil Faces Significant Challenges
Uncontrolled spending and ruinous results … Brazil has been a prime example of the policy of “more is less”. Under Lula and Rousseff the country felt invincible and believed that entering into massive trade and fiscal deficits while spending on ruinous government publicity projects and subsidies would work. Continue reading Brazil Faces Significant Challenges