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Unlike homeowners, home builders can alter their product and (much more flexibly) their price point  – by News Deal democrat Yesterday I noted that home builders, unlike existing homeowners trying to sell their existing house, have flexibility in the size and amenities of the house they will build, as well as the price they are willing to set, based on commodity costs and profit margins. Today’s new home sales report for July confirmed that,...

BRICS was a brilliant bit of sell side marketing, but it has taken a life of its own. One needs to stop projecting fantasies onto the global financial system, and accept that its form follows function.The extreme dominance of the share of global GDP after World War II by the United States was a historical accident, and so the relative rise of other economic powers was inevitable. Meanwhile, the eagerness of the United States to use sanctions as a foreign policy tool is going to create...

Bill on feudalism and capitalism. Capitalism and feudalism are essentially different in that land is the dominant factor in feudalism and land rent is the chief means of expropriation. Under capitalism, capital and expropriation of surplus value through industrial (technological) production along with financial rents are the dominant factors, although land and land rent are also still key in generating passive income resulting from ownership (title). That is to say, capitalism and feudalism...

Here’s what I said about Nvidia a year ago.

A minimum standard for lightbulbs has been set at 45 lumens (brightness) per watt. Most traditional incandescent and halogen lightbulbs won’t make the cut. Switching over from older lightbulbs to newer LED bulbs will “conserve energy and help consumers save on their energy bills.” This according to the rule announced in April last year. Changing Energy Costs, Angry Bear ...

Ακολουθεί το ελληνικό κείμενο της συνέντευξης μου στον ισπανικό ιστότοπο EL CONFIDENCIAL σχετικά με την κατάσταση της οικονομίας στην ΕΕ και στην Ελλάδα. [embedded content] View this document on Scribd

This is the English transcript of an interview of S.Mavroudeas for the spanish site EL CONFIDENCIAL (https://www.elconfidencial.com/). Its subject is the state of the EU and the Greek economy. The Spanish translation will appear on the 25th of August 2023. [embedded content] View this document on Scribd

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Total System reserves took a nice 50b drop last week but it does no good if Tsy runs TGA down by almost 200b at same time.. TGA account balance supposed to be $650b…. TGA reduction increases bank deposits while banks capital still under pressure from the Fed rate increasing psychos…TGA:TGA topped at around 550b coming up out of debt ceiling and rolled over taking financial asset prices with it since late July…  I think TGA should be back up to mid 400s as of yesterday’s Treasury operations…...