Ice Age? We don’t know yet but you can chalk one up for the deflationists, plus stock market euphoria highest since Dot-Com bubble.
Eurozone Now Experiencing Deflation
September 1 (King World News) – Holger Zschaepitz: OUCH! Looks as if ECB has failed to spur inflation w/money printing. Inflation falls into negative territory in Aug for 1st time since 2016 despite the Balance Sheet has more than doubled since 2016. (See chart below).
Chalk One Up For The Deflationists
Surprise
Albert Edwards, Former Global Strategist at Société Générale: Ice Age outright deflation arrives in the eurozone. The surprise isn’t the headline CPI decline of 0.2% year over year in Aug, but the slump in core CPI to 0.4% yoy in Aug vs 1.2% year over year in July. The chart below shows…both eurozone and US. Both are now around zero (see chart below).
ICE AGE: Outright Deflation In The Eurozone
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Quite A Tear
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab: Panic/Euphoria Model from Citi’s is having its longest run of extreme bullishness (euphoria) since early 2000s … overall level hasn’t quite eclipsed dot-com levels, though (see chart below).
Citi Euphoria Highest Since 2000 Dot-Com Bubble
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LBMA And Bank Of England Smoke & Mirrors, Plus Silver Liftoff
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