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ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing

Summary:
Who would’ve thought?;) The ECB makes this point in a footnote on page 10: The ECB Explains Why Central Banks Can’t Go Bankrupt in a Footnote “Central banks are protected from insolvency due to their ability to create money and can therefore operate with negative equity.” Trade deficit higher than expected. GDP estimates being revised down: International Trade And note the general downturn in trade which has always been associated with recessions in the past:GDP growth forecast down to only +.4% annualized, and the inventory correction impulse is yet to come:No sign of life here yet:Up a bit, but the trend still looking lower from last summer’s highs, as the slump in oil capex works its way through the economy: ISM Non-Mfg Index

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Who would’ve thought?
;)

The ECB makes this point in a footnote on page 10:

The ECB Explains Why Central Banks Can’t Go Bankrupt in a Footnote

“Central banks are protected from insolvency due to their ability to create money and can therefore operate with negative equity.”

Trade deficit higher than expected.

GDP estimates being revised down:

International Trade
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing

And note the general downturn in trade which has always been associated with recessions in the past:
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing
GDP growth forecast down to only +.4% annualized, and the inventory correction impulse is yet to come:
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing
No sign of life here yet:
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing
Up a bit, but the trend still looking lower from last summer’s highs, as the slump in oil capex works its way through the economy:

ISM Non-Mfg Index
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing
ECB footnote, Trade, Fed Atlanta, Redbook retail sales, ISM non manufacturing

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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