PPG
@PPGMacro
PPG Macro Independent Strategy. Only tweet when worth it. Not an economist. Former trader. Always an economic historian. LSE. Publican.
All these great trade policies sure does have the Richmond Federal Reserve district pumping up manufacturing. Oh, wait.... richmondfed.org/region_communi…
1/10 Industrial profits in China were down 4.3% year on year in June, and down 1.8% during the first half of 2025, even as revenues rose 2.5%. The drop was led by SOEs, down 7.6% in the first half, while private-sector companies saw profits rise by 1.7%. english.news.cn/20250727/7b9bb…
One might thank that Angela Merkel is the most successful KGB sleeper agent in history...
Thanks to the Green Party. Putin’s puppets.
UK Capital Gains Tax Receipts. @RachelReevesMP doesn't understand economics. There again she did tell us she worked at the Bank of England. Raise taxes, get less revenue... As I said months ago, she thinks the Laffer Curve is a joke. She's not laughing now.
What our trade war idiots do not realize is that China outproduces finished and semi-finished copper goods in volumes we could only dream of. If you're a 2nd world economy and don't want to deal with tariff man, you're buying from China.
You know it's bad when even the Japan Times writes about Sadiq Khunt's London
Commentary: London’s worsening disorder — from soaring petty crime to reckless delivery riders and rising drug use — reflects a decades-old pattern of authorities and citizens normalizing lawlessness. ebx.sh/OnECSv
Note the difference between copper in the US and China. The latter is 50% of global demand. Yet, China copper exports have surged. If idiots want to pay a silly price, China happy to sell.
So I said it: if we get a TACO on copper tariffs earmarked to be 50% starting 1 Aug, global copper prices would crash. Why? Because the tariff bluff created a distorted market: surpluses in the U.S., shortages everywhere else. Prices soared despite no change in underlying demand…
About fucking time. Trial was BS. The 'expert' witness was a BS merchant. Govt was looking for a scapegoat for GFC. Congrats @robilypj independent.co.uk/news/uk/crime/…
It's a different story in China which accounts for roughly half of global copper demand.
Dr. Copper is speaking. Is anyone listening?
If Japanese domestics are going swith bond holdings back to JGBs, the most logical market to exit is Europe. bloomberg.com/news/articles/…
I actually think this is real progress. The Commission has (I hope) recognized that it can no longer make do with pretend deals that offer the illusion of progress without resolving the very real underlying problem ... 1/
THE EUROPEAN DELEGATION EXPECTS TO REACH NO SUBSTANTIAL DEALS FROM THE CHINESE MEETING: EUROPEAN OFFICIAL EUROPE HOPES TO MAKE CLEAR WHAT IT WANTS BEIJING TO DO TO FIX UNSUSTAINABLE ECONOMIC RELATIONS AND REBALANCE TIES: EUROPEAN OFFCIAL
✅Her lack of leadership has no direct consequences other than to be re-elected by a closed body to continue passing on the pain & suffering to European citizens that can’t do anything about this circle of shame.
Analysis: To get its economy back on surer footing, China must do more than just get people to open their wallets. A deep, structural shift toward a service-led economy is needed to create sustainable demand. caixinglobal.com/2025-07-19/com…
further to my post from The Times
Increases to employer NICs have resulted in 84,000 hospitality job losses since the Budget. Our Chair @UKHospKate told @BBCBreakfast that "you can't balance the nation's books on the backs of hospitality workers". We need to see the Government fix NICs, lower business rates…
Trucked North America Class 8 (big lorries) truck orders have plunged. 3-month average at pandemic and GFC levels. @FreightAlley
