Author Archives: macromon

Economic Outlook

Posted on June 8, 2022 by macromon

I am out of the country and thought you might be interested in my economic presentation prepared for a European manufacturing trade group (note the European bias and context).  Click here to view the full presentation.   A loud shoutout to … Continue reading →

Posted in ECB, Economics, Euro | Leave a comment

Summer Break

Posted on June 4, 2022 by macromon

GMM will be laying low this summer, working on a special project, recharging our batteries, and working through the rest of the Five Stages of Grief after losing Carol K. We had planned a big reset and revamp of our … Continue reading →

Posted in Uncategorized | 2 Comments

Nonlinear Thinking: Seaweed Save Us

Posted on June 1, 2022 by macromon

The classic line from the cult movie, The Graduate, needs some updating.    Thank goodness for the creative destruction of capitalism.  The following video epitomizes the answer to many of the world’s problems — private sector innovation and entrepreneurship.  In … Continue reading →

Posted in Uncategorized | 1 Comment

The San Quentin Giants, Inflation & Donnie J.

Posted on May 31, 2022 by macromon

If you’re wondering why we’ve been pounding the table, warning of the evils of inflation over the past 24 months, I received a text from an old college baseball buddy this weekend, which encapsulates the fiery coals and burning sulfur … Continue reading →

Posted in Uncategorized | 1 Comment

CK Chart Funday

Posted on May 29, 2022 by macromon

1. Crack Spreads At Record High The traditional relationship between crude and refined products is broken. WTI is anchored around $100-$110 a barrel, suggesting that — in barrel terms — gasoline, diesel and jet-fuel prices shouldn’t be much higher, once … Continue reading →

Posted in Uncategorized | Leave a comment

Are Wage Pressures Structural?

Posted on May 28, 2022 by macromon

We vote both cyclical and structural. When it rains, it pours.  The COVID and Ukraine shock has ripped the veil from the “Wizard of Oz” economy.   Follow the crypto brick road.  Deglobalization Cometh Americans are beginning to experience what a … Continue reading →

Posted in Inflation/Deflation | 5 Comments

QOTD: Adaptive Expectations

Posted on May 28, 2022 by macromon

QOTD = Quote of the Day There’s a tendency for markets to focus on the present and extrapolate it forever – Olivier Blanchard

Posted in Quote of the Day, Quotes | Leave a comment

Beating Shipping Containers Into Penthouses

Posted on May 27, 2022 by macromon

They shall beat their swords into plowshares, spears into pruning hooks, [and shipping containers into homes] – Book of Isaiah (paraphrased). According to shipping analytics firm Windward, 20% of the world’s roughly 9,000 active container ships are currently sitting in traffic … Continue reading →

Posted in Uncategorized | 9 Comments

The Smoking Crack Spread

Posted on May 26, 2022 by macromon

Right now, the traditional relationship between crude and refined products is broken. WTI is anchored around $100-$110 a barrel, suggesting that — in barrel terms — gasoline, diesel and jet-fuel prices shouldn’t be much higher, once you add the average refining margin.  In reality, they are a lot more … Continue reading →

Posted in Crude Oil | Leave a comment

County Median Home Prices

Posted on May 25, 2022 by macromon

The map [below] allows you to see the median home price for each county. Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a median home value for … Continue reading →

Posted in Housing | Tagged | Leave a comment