Category Archives for "Politics"

More fake statistics!

In war, the first casualty is often the truth. In the current pandemic and polarised political environment, this seems to be doubly so. Pre-existing conditions might be what kills you with COVID-19, but it is the pre-existing political bias and goal-seeking that is more alarming. Don’t expect the data to lead the narrative. Want Biden […]

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“Following the science” – Really?

A catchy mantra perhaps to help insulate Governments from responsibility, but is this really a credible excuse for the biggest self-inflicted collapse in economic activity and personal liberty since WW2? Relying on the output of a “scientific model” may sound sensible, but when that model is based on incomplete, if not flawed data, then the […]

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Jobs data pain for impeachment obsessed Democrats

Without power, all that’s left is pointless political posturing. Markets therefore should be content to suck up some short term central bank profligacy if it can deliver more solid jobs and wages data, as we’ve seen in November’s non-farm payroll data. But then again, perhaps voters will want to take a risk on an increasingly […]

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US August jobs – porridge tepid and cooling

Markets weren’t expecting much from the August non-farm employment data and they didn’t disappoint. While average wage growth remained solidly above +3%, the underlying rate of private sector job growth slipped back to an anaemic +64k, with +15k of this coming from temporary help. Although comfortably ahead of the level of contraction that would signal […]

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FCA-Renault merger crash tested by dummies

With the auto industry facing some existential challenges, one might have thought a low margin operator and its shareholders would have seized at the opportunity for a highly synergistic merger. Unfortunately, when one of those shareholders is the French Government, then the normal commercial rules don’t seem to apply. So after some foot-dragging by Macron […]

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