Publications: Notes at the Margin

Rose-Colored Glasses Removed (June 1, 2020)


This is the first of three consecutive reports on the current situation. In this issue, we review economic data released on the last business day of May. We begin with the report of a group of chief economists at major banks. Their view is gloomy. Data published by the US Bureau of Economic Analysis (BEA) on May 29 suggest their grim perspective is, if anything, overoptimistic. Data from Europe and developing countries make the circumstances appear worse.


Our second report will examine the global oil supply and demand issues that follow from the bleak economic forecasts.


The third and final report in this series will examine the metamorphosis of the CME exchanges from organizations that provided price insurance to producers, as futures markets were intended, to gambling casinos that endanger producers.


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