Are Taylor Swift and Beyoncé to Blame?
Send us a textIn Europe’s battle against inflation, new villains have emerged: Beyoncé and Taylor Swift!Last month, as Beyoncé kicked off her world tour, fans flocked to Sweden from around the world for the shows, pushing up prices for hotel rooms. This could explain some of the reason Sweden’s inflation rate was higher than expected in May according to Michael Grahn, an economist at Danske Bank.Why after a series of interest rate hikes and a surge in the price of essential goods like food an...
29 Juli 202314min
Is The Luxury Goods Bubble About to Burst?
Send us a textIn March 2023 Bernard Arnault, the chairman and CEO of luxury fashion giant LVMH overtook Elon Musk to become the wealthiest person in the world. He is the only European in the list of top 10 richest people in the world. His wealth has skyrocketed with the massive growth in LVMH’s share price. And it's not hard to see why they’re so profitable. It’s easy to make money when you can sell items of clothing for $5,000. While luxury brands build the perception of having the highest q...
22 Juli 202319min
Western Economies Fight Back!
Send us a textWhen the Biden administration passed the Inflation Reduction Act and the Chips and Science Act for clean energy and tech last year, Americas trade allies in Europe and Asia were surprised. Now they are scrambling for ways to catch up. Are western economies in a war of subsidies with each other and China over technology and green infrastructure?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amz...
15 Juli 202323min
Why Are Cars Suddenly So Expensive?
Send us a textOver the last three years we have seen the biggest car price increases in history. Last year the average cost of a new car in the United States was forty-seven thousand dollars and the average used car price today is just under thirty thousand dollars.Car buyers today aren’t just faced with higher car prices, the average interest rate on a new car or truck loan has reached just under nine per cent and car insurance costs are rocketing too. What is going on?Patrick's ...
8 Juli 202317min
How George Soros Broke the Bank of England!
Send us a textIn The UK, September 16, 1992, is known as Black Wednesday, the day when speculators including George Soros and Stanley Druckenmiller "broke the pound." This expression is used to describe the moment in time where market forces coalesced to force the British government to exit the European Exchange Rate Mechanism (ERM) by removing its currency from that agreement. Joining the ERM was part of Britain's effort participate in a single European CurrencyPatrick's Books:Statistics For...
2 Juli 202326min
Britain’s Mortgage Crisis!
Send us a textRising mortgage payments are squeezing the finances of millions of borrowers in Britain, threatening to undermine household spending and the broader economy.The dream of a soft landing that would have the Bank of England squeeze out inflation without condemning the country to a recession looks increasingly remote. Inflation has been more stubborn than expected and is forcing the central bank to go with a bigger-than-expected rate hike that took the key rate to 5%.What does this ...
23 Juni 202325min
The Scam of The Century!
Send us a textAside from losing over 1.13 million people, the United States is thought to have lost billions of dollars in pandemic relief fund fraud, according to the most recent Associated Press analysis, published this week.The analysis discovered that fraudsters took more than US$280 billion in relief cash, while another $123 billion was lost or misspent.“Combined, the loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in aid,” according to the report...
16 Juni 202316min
The SEC Comes For Crypto!
Send us a textThis week, the US Securities and Exchange Commission (SEC), filed lawsuits against Binance and Coinbase, two of the world’s biggest crypto exchanges, on which investors buy and trade a large offering of cryptocurrencies. The SEC’s main allegation against Coinbase is that it’s running an unregistered securities exchange — like if the Nasdaq independently operated without any regulatory oversight. Binance faces the same charge, as well as additional accusations that it appropriate...
9 Juni 202324min
