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Thursday, August 18, 2022

Three Percent Of The Fed’s Corporate Bond Holdings Are Junk Rated

It is only appropriate that on the day Ball Corporation sold a bond with the lowest "high" yield ever for a junk bond, at 2.875%... ... that the Fed would publish its latest corporate bond purchase data, in which we find that as of July 31, some 3% of the corporate bonds purchased by the…

Three Reasons Why Morgan Stanley Thinks The Recovery Is Still On Track

One day after Goldman poured cold water on the V- or any other shaped recovery narrative, when its high-frequency, real-time indicators showed that the pace of the recovery was slowing across various consumption metrics...... but more notably, observed a clear contraction within the US job market and warning that "the labor market recovery is stalling…

Three Glaring Problems With The Russian Taliban “Bounty” Story

Authored by Barbara Boland via The American Conservative, There seems to be a lack of sourcing and a big whiff of politics, say former intelligence officers... A bombshell report published by The New York Times Friday alleges that Russia paid dollar bounties to the Taliban in Afghanistan to kill U.S troops. Obscured by an extremely bungled White House press response, there are…

The Three Best And Worst Ideas Of The Crisis

Authored by Veronique de Rugy via The American Institute for Economic Research, In typical fashion, politicians in Washington already are talking about passing, before the August recess, another COVID-19 bill. Never mind that between the Federal Reserve and the spending, the sum injected into the economy now exceeds $10 trillion. Overlook also the fact that we don’t…

Japan’s Three Decades Of Depressive Stimulus Schemes

Authored by Richard Salsman via The American Institute for Economic Research, he New York Times reports optimistically that “Japan Approves Fresh $1.1 trillion Stimulus to Combat Pandemic Pain.” As the Times elaborates, Japan’s “record stimulus of 117 trillion yen ($1.09 trillion), which will be funded partly by a second extra budget, followed another 117 trillion yen ($1.09 trillion) package rolled…

Three Ways Lockdowns Paved The Way For These Riots

Authored by Ryan McMaken via The Mises Institute, There were many reasons to oppose the COVID-19 lockdowns. They cost human lives in terms of deferred medical treatment. They cost human lives in terms of greater suicide and drug overdoses. Domestic abuse and child abuse have increased. There is also good reason to believe that lockdowns don't actually work. The lockdown activists capitalized on media-stoked fear…

Study: 70% of People Lack Essential Nutrients Found in Fish

Everyone knows that eating fish is good for you, in part because of the healthy omega-3 fatty acids that it contains.Several of these fatty acids are essential in human diets, especially when it comes to infant development and reducing cognitive decline in adults.But dwindling fish stocks worldwide, combined with a growing population, mean that a…

Three Bad Arguments For The Minimum Wage

Authored by Gor Mkrtchian via The Mises Institute, The case for market wages is simple. If employers and employees voluntarily agree to a certain wage, then that exchange will necessarily be mutually beneficial, otherwise it wouldn’t have happened. Creating a minimum wage will simply disemploy the lowest-skilled among us, whose productivity is below the legal…

Burn, Pay, Or Shut It Down: Three Evils For Permian Drillers

Authored by Julianne Geiger via OilPrice.com, There was a time when natural gas was a welcomed byproduct of crude oil drilling, and drillers in the prolific Permian basin enjoyed this consolation prize--at least when natural gas prices were on the rise. All good things come to an end, though, and the amount of natural gas…

“Three Things I Learned In Washington”: Central Bankers Aren’t Sure What To Believe Anymore

Submitted by Huw van Steenis, senior adviser to the CEO of UBS, and formerly senior adviser to Bank of England Governor Mark Carney. Three things I learned in Washington As the world's central banks and economic policymakers convened in Washington over the weekend for the annual meetings of the IMF, IIF and World Bank, there…

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