Michael Shedlock's Contributions

Michigan Legalizes Recreational Marijuana, Utah and Missouri Ease Restrictions

Nov 8 – National laws are in need of a serious overhaul as states take matters into their own hands. In midterm election votes, Michigan, Utah and Missouri eased restrictions on marijuana. There are now 33 U.S. states that have legalized marijuana to some degree...

Forbes, Laffer Ask Trump for Zero Tariffs, Zero Subsidies and Zero Barriers

Michael Shedlock –In a letter to Donald Trump, the Committee to Unleash Prosperity seeks zero tariffs. There were several notable letter signees. Steve Forbes, Arthur Laffer, Fred Smith, and Stephen Moor on the Committee to Unleash Prosperity ask...

Italy Bond Yields Surge in Confrontation with ECB President Mario Draghi

By Michael Shedlock – Mario Draghi warned, "Undermining E.U. budget rules carries high price for all." Then, Italian bond yields surged. Draghi did not mention Italy by name, but his threat Undermining EU Budget Rules Carries High Price For All was well understood by the bond markets.

Foolproof Reason Electric Cars Will Soon Take Over: Government Mandate

By Michael Shedlock –Electric cars are coming. Electric may not make any practical sense, but so what? Global warming advocates will win. The two things I have battled most with my readers both pertain to cars. The first is self-driving, the second is electric.

Walmart to Use Blockchain to Track Lettuce

By Michael Shedlock – Walmart will require lettuce and spinach suppliers to contribute to a blockchain database to pinpoint contamination. The New York Times reports Walmart’s Veggie-Tracking B.L.T.: Blockchain Lettuce Technology. Some think this...

US Trade Talks With China Collapse: No Further Talks Scheduled

By Michael Shedlock – Either Trump backs down from repeated threats or more tariffs are coming as talks with China collapse. Be prepared for an escalating trade war as U.S.-China Trade Talks End With No Sign of Progress.

China's Alleged "Victory Plan" Over the US Dollar

By Michael Shedlock – Every few months someone promotes complete silliness regarding China displacing the US. Here we go again. The winner by a mile is Lacalle. There is no victory for China. Here are some reasons...

Waymo Keeps Rolling: Self-Driving Cars Now Ferry Arizona Shoppers

By Michael Shedlock – Waymo's early rider program is now a year old. And it's expanded as a taxi service for shoppers. People still tell me "self-driving will never work" but it's working already. Please consider Waymo...

June New Home Sales Decline 5.3 Percent from Huge Revision Lower in May

Michael Shedlock – Economists missed the mark badly on new home sales estimates. And over half of last month's surge was revised away. Economists expected 668,000 new homes would be sold in June. Instead, home sales fell 5.3%...

Spotlight Turkey: Hyperinflation and Mass-Migration Crisis Inevitable

By Michael Shedlock – Turkey isn't close to hyperinflation yet. But the path it's on is a guaranteed way to get there. As Erdogan tightens his grip on finance and the central bank, Investors Fear Turkish Currency Crisis.

Yield Curve Will Invert From the Inside Out

By Michael Shedlock – How does the yield curve invert? Jim Bianco at Bianco Research says "Inside Out". This is a guest post by Jim Bianco. I dispense with block quotes. The end of the article will be clear.

Setser vs Rosenberg: China's "Nuclear" Option of Dumping Treasuries

By Michael Shedlock – Brad Setser and David Rosenberg each discuss the "nuclear" option of China dumping treasuries in a trade war escalation. Since there is no longer any reasonable debate about a trade war has started...

BIS Blasts Cryptos in Special Report: "Beyond the Hype"

By Michael Shedlock – The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money. A Bank of International Settlements (BIS) report examines cryptocurrencies in depth.

Mortgage Rates Move Higher on Fed Dot Plot Projections

By Michael Shedlock – How many hikes can the Fed get in this year? The Fed estimate is two more. Mortgage rates rose on the news. Mortgage News Daily reports Mortgage Rates Higher Following Fed Forecasts.

Average New Vehicle Auto Payment Hits Record High $523 Per Month

By Michael Shedlock – The average size of a loan for a new car in the US set a record in the first quarter as did the average payment. Database firm Experian notes US Monthly Auto Payments Reach Record High in First Quarter.

Quantum Computers Will Make Even "Strong" Passwords Worthless

By Michael Shedlock – The race is on to perfect quantum computing. It will make your bank passwords and all existing security methods useless. The Hutch Report has a fascinating 44-page PDF on Quantum Computing.

Productivity Growth Poised to Recover? Will Workers Benefit?

By Michael Shedlock – A McKinsey study addresses the "productivity puzzle". However, there is no puzzle and there never was a puzzle. Inquiring minds are diving into the McKinsey study on Solving the Productivity Puzzle.

How the Fed's Inflation Policies Crucify Workers in Pictures

Every month, pundits comment on average wages. But median wages best explain how the Fed's policies crucify workers. The meme of the day is wage growth is accelerating. I disputed that notion on February 7 in...

Petro-Yuan Futures Launch in March: Ignore the Hype, It's a Good Thing

By Michael Shedlock – After a 25-year wait, China is about to trade Yuan Oil Futures. Expect to see and hear a lot of hype over this event. Don't be silly. For starters, it is meaningless what oil is priced in. It makes no difference...

Replacing Cashiers With Robots "Just Makes Sense" Jack-in-the-Box CEO

By Michael Shedlock – As minimum wages rise, so does the push to get rid of workers. Leonard Comma, CEO of Jack-in-the-Box says the company is considering swapping some cashiers for self-ordering kiosks. "

randomness