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Jim C

@JimClewlow
Joined April 2014
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Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)Photo by Jim C (@JimClewlow)
A hauntingly beautiful and heartbreaking performance of a song, Romeo and Juliet. Mark Knopfler performing the song live at Radio 2 Piano Toom, a Ken Bruce show. #MarkKnopfler #DireStraits
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60 years ago, Walter Cronkite of @CBSNews interviewed Gen. Dwight D. Eisenhower, the Supreme Allied Commander for Operation Overlord: “These people gave us a chance and they bought time for us so that we can do better than we have before.” #DDay80
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Before you complain about how tough life in America is today, take a moment… You don’t have to face this at 6am tomorrow.
Image from Geiger Capital (@Geiger_Capital)
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If you think the US is decoupling from China, think again. Look at the sharp rise in China's trade surplus with key "trans-shipment" hubs around the world. Stuff made in China is still heading to the US, just on a more circuitous route. There is no decoupling. Only relabeling...
Image from Robin Brooks (@robin_j_brooks)
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The Port of Long Beach cargo volumes rose nearly 15% year-over-year to 755,150 total TEUs in October, showing a two-month consecutive increase. buff.ly/3sB5lFh
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BREAKING: WeWork, $WE, is planning to file for bankruptcy as early as next week, per WSJ
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Hold the presses. The odds are that China isn't actually selling dollar bonds. Or even moving its reserves out of the dollar. A new blog on how to interpret the US TIC data cfr.org/blog/china-isnt-shif…
China Isn't Shifting Away From the Dollar or Dollar Bonds | Council on Foreign Relations

China Isn't Shifting Away From the Dollar or Dollar Bonds | Council on Foreign Relations

China’s reserves has shifted its dollar reserves from Treasuries to Agencies, and made increased use of offshore custodians. The available evidence suggests that it still holds about 50 percent of...

cfr.org
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The 30-year, fixed-rate #mortgage is now 7.9%. Not only will the rate break 8%, but 9% is likely before year end. That will effectively triple mortgage rates, causing the Fed's balance sheet to explode, as insolvent #banks dump their highly underwater MBS on the #Fed at par.
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It looks like the #bond market is crashing in slow motion, and the yield curve will finally normalize after fifteen years of artificially low interest rates. This will be catastrophic for the U.S., which has built an entire economy and government on a foundation of cheap money.
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Estes Express Line's $1.525 Billion dollar bid for Yellows terminals wins out! The next auction block is Yellow's rolling stock which includes 12k tractors and 35k trailers. Any guesses who who takes the bulk of these? freightwaves.com/news/estes-…
Estes’ $1.525B stalking horse bid for Yellow’s terminals wins out

Estes’ $1.525B stalking horse bid for Yellow’s terminals wins out

Estes Express Lines was named the winning stalking horse bidder in Delaware bankruptcy court on Thursday.

freightwaves.com
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J.B. Hunt Transport Services announced Thursday it will acquire the brokerage operations of BNSF Logistics, a subsidiary of BNSF Railway. bit.ly/3Rl8HWS
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A third straight market day of higher yields on US government #bonds. This wasn’t suppose to happen after Friday’s Goldilocks #jobs report. It has occurred due to A heavy supply of bonds, particularly investment grade corporates: Strong economic data; and, of course, Higher #oil prices. #economy #econtwitter
Image from Mohamed A. El-Erian (@elerianm)
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BANKRUPTCIES
Image from Win Smart, CFA (@WinfieldSmart)
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#OTD in 1781, the French fleet defeated the British fleet in the Battle of the Chesapeake, leaving British troops under Lord Cornwallis in Virginia with no reinforcements or means of escape. A besieged Cornwallis surrendered to George Washington at Yorktown six weeks later.
Image from U.S. Naval Institute (@NavalInstitute)
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#OTD 1944, the crew of USS Finback (SS-230) rescued a young lanky pilot who had bailed out of his flaming Grumman TBM Avenger after the plane was hit by flak while attacking Japanese installations. LTJG George H. W. Bush would go on to be the 41st president of the United States.
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Circling back to one of my favorite macro tweets of all time from ⁦@FinanceLancelot⁩ “Scarcity is an illusion created by excess liquidity” We have enough houses—they’re being misallocated as mini hotels For many, this ends soon zerohedge.com/personal-finan…
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In Jan 2017, we first laid out the case that the fiscal and monetary policy setup was eerily similar to the Great Inflation of the 60s-70s in a piece called "The Oscillation of Inflation". We still believe that the analogy holds, and now apparently, Summers does too. #inflation
Lawrence H. Summers (@LHSummers) profile pictureLawrence H. Summers
@LHSummers24 Aug 2023
This picture should be sobering to anyone convinced that we have reattained price stability.
Image from Lawrence H. Summers (@LHSummers)
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“Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire.” - Warren Buffett
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“The West’s residual economic connectivity with China far exceeds that which it maintains with Russia. Reducing ties will accordingly take longer, but given Beijing’s economic pull, doing so may also prove more consequential.” trib.al/MoTt8um
The Dangers of Detachment

The Dangers of Detachment

Economic independence could make the world more dangerous.

foreignaffairs.com
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Compare Jamie Dimon with @POTUS and any of the other candidates for president. None have his command of geopolitics, the global economy and more. A brilliant interview by the @TheEconomist which should take down the paywall for the full interview. He should be our next president.
The Economist (@TheEconomist) profile pictureThe Economist
@TheEconomist11 Jul 2023
Replying to @TheEconomist
“I would worry about another Trump presidency,” says JPMorgan Chase boss, Jamie Dimon. Watch the full interview: econ.st/3PZFRKW
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