Jeffrey P. Snider Blog | Talkmarkets | Page 1
Chief Investment Strategist at Alhambra Investment Partners LLC
Contributor's Links: Alhambra Investment Partners

As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base.
Jeff joined Atlantic Capital Management, Inc., in Buffalo, NY, as an intern while completing studies at ... more


Latest Posts
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You Can't Bring It Back Up If You Have No Idea Why It Falls Down
The principle is of pump priming is simple enough, and it was Keynes who gave the idea its intellectual framework. During a depression, or even a recession, depressed “aggregate demand” can be shifted higher by an influx of government spending.
Disposable (Employment) Figures
Despite the constant attention and overhyped focus on them, payroll reports really, really don’t mean all that much by themselves. They are perfectly disposable figures.
A Time Recession
Eurostat confirmed earlier yesterday that Europe has so far avoided recession. At least, it hasn’t experienced what Economists call a cyclical peak. During the third quarter of 2019, Real GDP expanded by a thoroughly unimpressive +0.235% (Q/Q).
More Signals Of The Downturn, Globally Synchronized
Globally synchronized downturn took a little while, but, as we’ve said all year, the US was just following places like Germany and China as they absorbed the more immediate effects of the global dollar shortage first.
All Signs Of More Slack
The evidence continues to pile up for increasing slack in the US economy. While that doesn’t necessarily mean there is a recession looming, it sure doesn’t help in that regard. Besides, more slack after ten years of it is the real story.
Fails Swarms Are Just One Part
There are considerable indications that the last fails swarm wasn’t the final answer for Euro$ #4. That’s not unusual; they are swarms, after all.
Consistent Trade War Inconsistency Hides The Consistent Trend
For the second time in the last three years, Private Non-residential Construction spending is on a serious decline.
The Risen (Euro)Dollar
India was supposed to be the last bastion of the old way, the pre-crisis potential whatever was still alive from it. If that place isn’t immune from the “dollar double whammy” then that’s it, no one is.
The ISM Isn’t An Isolated Case
The Institute of Supply Management index continues to suffer.
Weekend’s PMI Joy Was Spoiled Before It Ever Got Started
The weekend began with pure joy over PMI’s before it ended in deep disappointment early Monday…over a PMI.
Further The Zombie Bubble
The Bureau of Economic Analysis (BEA) has revised its preliminary estimate of GDP. That can only mean one thing: time to look at corporate profits again.
Nothing Good From A Chinese Industrial Recession
October 2017 continues to show up as the most crucial month across a wide range of global economic data. In the mainstream telling, it should have been a very good thing, a hugely positive inflection.
China’s Financial Stability: A Squeeze And A Strangle
The PBOC is worried about what it classifies as possible “abnormal” market fluctuations due to “externalities” – particularly as they might relate to “global liquidity”. Sounds vaguely familiar.
The Big One, The Smoking Gun
Recession is the least our worries, even though it is a substantial one.
They Aren’t Even Trying To Dethrone The (Euro)Dollar
A credit-based currency requires credit capacities. And currently, there are none to challenge the offshore dollar system. The eurodollar.
Regardless Of Recession, We’ve Already Got The Downturn And That’s What Actually Matters
The Chicago Fed’s National Activity Index (NAI) fell pretty sharply in October. At -0.71, that’s a reading which suggests the US economy may be operating significantly below trend.
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