Post 319

• Truck maker Paccar sales continue to fall.
• Freight shipments in the US are still down.
• A look at how tariffs impact trade: Lobsters.
• Petrol cars may not be going the way of the Dodo in California  after all.
• Both Home Depot and Lowe’s broke eight quarter losing streaks at the end of 2024 with sales finally back in positive territory.
  • It only lasted a quarter.
• Inflation in Canada is rising again.
• On an adjusted basis, Canada has lost jobs for two straight months.
  • And the government artificially increased the unemployment numbers in order to boost unemployment benefits.
• We dive into just how unaffordable a house is in Toronto.
• In Financial Ructions:
  • Things look like they’re unravelling in Japan.
    • Inflation is forcing the Bank of Japan’s hand on interest rates.
    • That’s what happens when you increase the monetary base at an annual rate of 14% over 14 years.
  • Yes, longer-term rates are affected by central banks.
    • And not just through QE.
  • We look at an FT opinion piece which says that efforts to improve liquidity in the US Treasury market could exacerbate the basis trade.
    • But don’t worry, the Fed will come to the rescue.
• We finally finish our book review of The Great Depression.
  • I actually found myself agreeing with a couple of the author’s comments.
  • But don’t worry, I disagreed with most of what he had to say in the final chapter.