US claims at a record low, Argentina base rates at 60%, the failed Chinese model, and the negative rate tax

Today's daily newsletter is very late but hopefully still useful. Yesterday I said I have a few thoughts on China that I want to run by you. I didn't get them out yesterday. So I will incorporate them into today's post. Feedback appreciated as always
Jobless claims are at a record low in the US
For those of you who have been following me for a while, you know I like the jobless claims series because it is as good a real-time indicator of the economy as any given that it is released every week. And when the economy turns, claims data also turn.

Last week, the more stable 4-week average number fell 1,500 to 212,250, the lowest level since December 1969, when record keeping began. For me, this isn't a contrary indicator. Instead it is just confirmation that the current economic situation is ...


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