The Financial Times asks, "How’s the economy doing?" [Eurodollar University, Ep. 177c]

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3 years ago

-----EP. 177c SUMMARY-----
Gillian Tett writes that the US economy is doing quite well (e.g. goods consumption) but also quite poorly (e.g. consumer sentiment) and asks how to reconcile conflicting signals. Jeff Snider reacts live to the Financial Times columnist, suggesting new models are unnecessary.

-----EP. 177c TOPICS------
00:00 INTRO: "How’s the economy doing? That depends on your perspective", writes Gillian Tett
00:29 Some data out of the US looks good, positive and hopeful (e.g. consumption, open jobs).
01:59 Other data out of the US looks lousy (e.g. consumer sentiment).
05:07 US consumer sentiment has been found to be predictive of US recession.
08:03 The labor shortage only exists because businesses refuse to pay a market-clearing wage.
10:01 Consumers are glum (U. of Mich.) because they don't know how to react to price increases.
11:43 Economists need a new model to reconcile gloomy consumers to the positive/good economy.
15:51 Economists are not disinterested scientists that impartially examine data.
20:27 Economists are pursuing new methodologies to better understand the complex global economy.

----EP. 177c REFERENCES---
How's the Economy Doing? That Depends on Your Perspective: https://on.ft.com/3EJUjOR
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

-------SHOW SPONSOR-------
Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, Lyn Alden, Maroon Macro, Matt Stoeller, Michael Pettis, Myrmikan, Perry Mehrling, Robert Breedlove, Rohan Grey, Velina Tchakarova and yes, even Jeff Snider.

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---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Illustrations by David Parkins, myth maker. Audio and video editor, The Terence. Logo design by pixelist Lisa Jiang. Master of ceremonies, Emil Kalinowski. Musical intro/outro is "Sleds" by Cushy found at Epidemic Sound.

------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/

Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.com

David: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com

Lisa: http://Lisa-Jiang.com/
Lisa: https://twitter.com/@Nylonnerves

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