The Weimar Republic of Venezuela

147
Fri, Jun 3, 2016 - 7:24pm

“LOOK EVERYONE! GORILLA SHOOTING!” You may have seen the biggest story of the entire year, maybe the biggest story of modern times, play out over the last week when Harambe the Gorilla was shot and killed at the Cincinnati zoo after a child fell into its enclosure and the beast began dragging the boy around. Television, newspapers, and major media outlets from across the world descended as the story nearly broke the internet. Should they have shot it? What kind of savages shoot an innocent animal? What kind of savages care so little for a boy’s life? Who will be charged? Why are people being charged at all? Why aren’t the parents being prosecuted? Who should pay for this outrage? Is it an outrage? Why are you outraged? Why aren’t YOU outraged?

Meanwhile, in this same western hemisphere, a nation that just two generations ago was the wealthiest country per-capita in all of South America is now suffering a catastrophic economic collapse and hyperinflationary event, to a near mainstream media blackout punctuated by occasional, drive-by articles that are largely misleading. Virtually the only in-depth, ongoing coverage of this catastrophe has been on the internet, mostly in the alternative media.

In 1970, Venezuela was not only the richest country in Latin America, it was one of the twenty richest countries in the entire world, with a per capita GDP higher than Spain, Greece, and Israel and only 13% lower than that of the United Kingdom.

My wife’s Nicaraguan Godfather, an extremely well-traveled man, still speaks with awe of how when he was young, the ordinary Venezuelan middle class would fly to Miami several times a year for vacations as a standard way of living. It was nice, cheap to them given the exchange rate at the time, and the hotel staff spoke Spanish! Possessing astounding natural resources, Venezuela is not only the “Saudi Arabia of the Americas” as it sits upon famously vast oil reserves, it also has an exceptional growing season, fertile soils, and rich deposits of everything from gold to bauxite to aluminum. And yet this country, arguably blessed with the greatest concentration of natural wealth per square mile of any country in the Americas, is literally starving to death at this very moment. People are hunting and killing stray dogs and cats in the streets just to survive, and even pigeons are being hunted for food. Exactly as people did during the Weimar Republic hyperinflationary event of 1921-1923, shortages of food are now so endemic throughout the country that standing in long lines, waiting and hoping that food will be delivered to your store and that you can buy it quickly before the currency depreciates even more, has become a way of life.

For sound money advocates, precious metals investors, or the good folks at TFMR (most of whom have read the classic When Money Dies: The Nightmare of the Weimar Collapse ) what we are seeing in Venezuela right now is shockingly familiar. We know the story of unbacked printing of fiat currency and we know how badly it ends. We also know this should be huge news! We want to shout “Look!!! This is exactly what we’ve been talking about for years, yet you keep dismissing us as tinfoil hatted cranks!” So why is one of the biggest stories of the year, and probably the decade, being dribbled out in tiny, disingenuous soundbites? Why is a zoo gorilla shooting (or whatever random faux outrage of the day) given such outsized coverage relative to actual impact on current and future affairs? Why is the western media whistling past the graveyard of Venezuelan hyperinflation and brutal economic collapse?

I suspect it largely comes down to three things: (1) A reflexive instinct on the part of the Media to cocoon the progressive “narrative” of social justice redistributionism = good / any opposition to this = bad… especially during a Presidential election year, (2) outright embarrassment for previous support/praise for Chavez, or for vocal support of the exact types of policies Chavez enacted, and (3) deep-seated fear that people will connect the dots between redistributionist tax policies and entitlement spending, irresponsible money printing, and ultimate economic collapse. A fear, in other words, that people might realize, through this real-world example, that even resource rich, formerly wealthy countries are not immune to the laws of economics and a Weimar ending. In short, Venezuela brings out a whole host of giant skeletons from a closet that the Media, their easy-money policy dependent corporate masters, and the social justice peddling intelligentsia “thought leaders” of the academy would rather just stay hidden. So Venezuela is ignored, downplayed, and above all else, treated as a story about “bad luck” and corruption.

Matt O’Brien has been one of the few mainstream reporters to write about Venezuela in the national press, for the Washington Post, every few months during 2016. Yet as an intelligentsia wannabe (a former writer for Wonkblog and The Atlantic), despite his knowledge of what is happening, despite being one of the only mainstream reporters giving this story attention, old Matty cannot bring himself to truly name the beast that killed Venezuela. Look at this recent article purporting to identify the causes of the collapse. The author contorts, distorts, and bends over backwards to shield Socialism and money printing as the root cause of the disaster, instead working hard to place the blame on corruption, the deliberately vague euphemism “economic illiteracy” (which could mean anything), and even drug smuggling. Now these were certainly facets of the Chavez and Maduro governments, as far as they go, but they are hardly causative by themselves. He even lamely tries to say “Look at Alaska, they have ‘socialized’ oil revenues and that’s been just fine”, but his argument ignores two massive realities. One, the human failings and shortcomings he mentions are present in EVERY Latin American government (and, I would argue, pretty much every government, period) so like all central planners he seems unaware that the implication of his defense is that for his favored system to work as he apparently envisions, he will have to await the arrival of some mythical perfect angels to run his socialist paradise. Second, in his rush to blame mere corruption and malfeasance, he studiously ignores the long, extensive list of highly socialist actions enacted through the years that Ricardo Hausmann, former Venezuelan Minister of Planning and someone far better placed to know and understand the true causal factors in this case, writes are the primary causes of the present misery:

“In Venezuela, the Law of Just Costs and Prices is one reason why farmers do not plant. For that reason, agro-processing firms shut down. More generally, price controls create incentives to flip goods into the black market. As a result, the country with the world’s most extensive system of price controls also has the highest inflation – as well as an ever-expanding police effort that jails retail managers for holding inventories and even closes the borders to prevent smuggling. Fixing prices is a short dead-end street.

…After former President Hugo Chávez was reelected in 2006, he expropriated farms, supermarkets, banks, telecoms, power companies, oil production and service firms, and manufacturing companies producing steel, cement, coffee, yogurt, detergent, and even glass bottles. Productivity collapsed in all of them.”

All that (price controls, freebies for the poor, mandated wage hikes, government take-overs of the means of production, etc) is textbook Socialism, paid for through unbacked money printing, and is a far cry from the mere “corruption, drugs, and stupidity” story being peddled by O’Brien to protect Socialism from the stink of Venezuela, isn’t it? Chavez ran the middle class out of the country for nearly two decades, making it impossible for people with the education and skills to manage businesses, bring products to market, garner a living or even earn profits without most of them being “redistributed” through confiscatory tax rates to the poor, to buy the votes of the “Chavistas”. The smart ones got out. Without a middle class left - without working farms, distribution networks, factories, and the people to make them run - what is left? A shell of a country that is collapsing before our very eyes, and there is nothing anyone can do about it.

The story is a ruinous embarrassment for leftist academics, progressives, and writers who have at one time or another either directly praised Chavez for taking these actions in the past or who themselves have advocated for many of these same “solutions” as part of their political ideology or platform.

This Huffington Post article fawning over Hugo Chavez at the time of his death in 2013 is a good example, and while it’s a bit overwrought it is not at all out of the mainstream of the “thought-makers”. The author likens Chavez to Simon Bolivar and describes him as a man of the people, bringing social justice and fighting against corruption (hilarious, given that his no-talent thirty-something daughter is now believed to have a net worth of 4 billion dollars, much of it presently in offshore accounts). The Huffington Post, using standard tactics of the New Left in linking racial equality with Socialism (thereby dishonestly marginalizing anyone who disagrees with their economic agenda as inherently racist) wrote that Chavez “represents the socialist ideal: that the poor, the coloured, the illiterate, the segregated and the oppressed citizens deserve a fair shot at the basic constructs of society: education, healthcare and employment.” The author went on to rave that “Chávez offered light where there was once darkness, supplied doctors to the sick, afforded free schooling”.

If you have the stomach for it, review the recent pictures from this Daily Mail article on the current state of hospitals and health care throughout the country, to witness the endpoint of this amazing healthcare system that Chavez was so widely praised for by the redistributionists at HuffPo. I’ll bet, given current events, that this is one article they might want back. I’ll also bet that this, and many other similarly embarrassing (in hindsight) articles and opinion pieces, has a lot to do with why we aren’t hearing about Venezuela much in the mainstream press these days. Why further embarrass yourself, your colleagues, or at the very least, your side?

Salon provides us with another fine example from just three years ago. In 2013 they published this astounding, and frankly quite revealing, praise for Chavez:

His full-throated advocacy of socialism and redistributionism at once represented a fundamental critique of neoliberal economics, and also delivered some indisputably positive results. Indeed, as shown by some of the most significant indicators, Chavez racked up an economic record that a legacy-obsessed American president could only dream of achieving. …In a United States that has become more unequal than many Latin American nations, are there any constructive lessons to be learned from Chavez’s grand experiment with more aggressive redistribution?

This… THIS is exactly why the media is prevaricating or ignoring Venezuela. Because, to quote Salon’s eminent business writer David Sirota above, there are indeed “lessons to be learned from Chavez’s grand experiment in aggressive redistribution”, but they are not the ones our media, academic, or corporate betters would like us to learn. As people search for dogs in the streets to kill for food, fight for toilet paper, watch children starve, try to smuggle baby formula into the country, wait in lines for days in the vain hope that their depreciating Bolivars will buy something (anything) that might randomly show up at the store that day from the failed supply chain, watch the murder rate skyrocket until Caracas becomes the most dangerous place on earth… the lessons are plain, all right. So LOOK OVER THERE!!! THEY SHOT A GORILLA!!!

. . .

The aftermath of hyperinflation in the Weimar Republic was unforeseeable and devastating, a shattered generation whose anger and helplessness gave rise to Adolph Hitler, National Socialism, and ultimately the horror of World War II and 70-90 million military and civilian deaths. Nobody could have foreseen such things at the time, obviously, but from utter devastation often comes unexpected and dangerous outcomes. I will be watching the Venezuelan hyperinflationary event and economic collapse very carefully in the months and years to come, and will be very mindful that its aftermath will also likely be both unpredictable and dangerous. Will dominoes fall, with Venezuela’s 2016 collapse causing refugee flows possibly taking down Columbia, perhaps as early as 2017? Would this be enough to destabilize Ecuador, and will all this on the northern border of a huge and powerful, but increasingly fragile Brazil suddenly mean that we may find ourselves on the verge of an economic crisis the length and breadth of South America circa 2018 or 2020? Would that roil the entire world economy? I have no idea. I DO know that a black swan event is one that few people see coming, and at this point I think it is safe to say that few people realize the extent of the damage, or the possibility for far-reaching consequences, of the Weimar event taking place in Venezuela. I also know that folks there would have been very wise to have bought and stacked real money while they could. In their case, it just might have made all the difference:

Just in case... Keep stacking.

About the Author

  147 Comments

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Gramp
Jun 5, 2016 - 10:31pm

Trump vs Ebenezer Scrooge, w/ Guest appearance from JPMorgan!

Donald Trump vs Ebenezer Scrooge. Epic Rap Battles of History Season 3.
benque
Jun 5, 2016 - 10:12pm

Benque is

of Irish and French descent, speaking english and living in Montreal.

Benque's Irish ancestors were very nearly wiped out by British genocide in the early 1800s, but I bear no animosity against British common folks then or now, for that. That was just that typical old "elitist" behaviour we have all seen so much of.

When I was very young, we told Hunky jokes, then Polak jokes, then Newfie jokes. There just always has to be somebody different, to make us feel superior. Later, when traveling in northern British Colombia, I witnessed appaling behaviour by many whites toward native folks, and I was shocked to my very core. All those silly jokes never conveyed the true meaning of hatred and racism to the young Benque. I worked with several Sikh fellows back in the 80s and 90s, and they were really great guys, and we had many good times, and many good laughs together. Later on, I worked in Mississippi, and did not see anything at all like the "mass media" had conditioned me to believe, regarding Southern racism, although it was there all the time, all around me, and palpable....just not sensed in a hatred kind of way. Difficult for me to describe.

I have travelled to many places, and always found the peoples and their ways of life fascinating, and enjoyable to witness. I always found something wonderful about them (certainly in general, and less so in individuals). Venezuela in December of (edit 1997, not 1998) is most memorable, in having been introduced to el Presidente just weeks before the Chavez coup. The Venezuelan folks I met, and there were hundreds, (as my coleague and I represented our company at a military air show) were all, each and every one, full of energy and vitality, and especially pride. Admirable people they were, and I feel terrible thinking what may have happened to all the friends I made there. One day I'll go through all the business cards I was given, from a myriad of generals and colonels, etc, etc, and maybe I'll come accross one from Chavez.....LOL

Its late, and my verbal back-door-trots are running thin.

Good night all!

tyberious
Jun 5, 2016 - 9:44pm

Personal question

beque, where do you live?

benque
Jun 5, 2016 - 9:42pm

The role of culture

Tyberious, I had not been thinking about the role of culture in the visceral manifestation of racism, when I wrote my comment above, and I think you make a very good point. Regarding Indians (from India or otherwise), I understand your feelings intelectually, but have never felt that way myself. I don't know why the difference, and I am not critical of you for what you feel. Most interesting I think, but certainly feelings such as you describe could be manipulated into warlike and murderous frenzy by a skilfull propagandist, if enough people in one place had the same feelings. There's that national, or local culture thing again.

I do truly believe that if we understand the origins of our "feelings" towards the differences of others, then we have taken a great step forward in the advancement of humanity.

On the other hand, if any crazy nutcases start waging race or religous war on me and mine, then I say burn the bastards, and take everything they got.

benque
Jun 5, 2016 - 9:27pm

The ants are racists!!

I believe that racism is nothing more than one manifestation of tribalism. Humans and their simian relatives, and every other life form I can think of, will at best begrudge, and more likely attack any other similar lifeform which encroaches upon their perceived territory, thus competing for eating or mating rights.
The so-called racism we hear about in the media today is nothing but divide and conquer policies by those who would rather the common people quarrel and fight with one another, rather than discover the truth about who owns all the eating and mating rights; or a tool to incite the common folks to pick up arms and wage war against other common folks, who are vilified by any real or imagined "difference" which will do the trick; all so some king or tyrant, or what have you can amass more eating and mating right equivalents (aren't we just oh so sophisticated now!).
In the past racism in conjunction with religous superiority (similar to the divine right of kings) and technological superiority made the harvesting of other peoples eating and mating rights through genocide quite a profitable enterprise. Just ask Cortes or Teddy Roosevelt, or Tojo, or any crusader you might know.
Basically, any stranger is a threat, who might steal our food, or steal our mate(s), as was almost always the case when our reptilian and limbic brain components were developing (think fear and greed).
So, it's all reptilian bullshit, and anyone who believes that bullshit is simply an ultra-maroon, who deserves no eating or mating rights.
So there you have it. The history of life, in a nutshell.

tyberious
Jun 5, 2016 - 9:12pm

I was at the pool when I asked that.

But to follow up, if "Race" a theoretical construct, and is the adhesives that holds "nations", a political construct, then how is either valid?

Furthermore, the "White Race" is not a cohesive group, anymore than the "Asian Race" is a cohesive group, see all European Wars, see Asian wars.

Now, I will admit that in America we, all races that have been here for more that 4 generations, separate ourselves by race more than by culture as we share a common recent cultural history. But our racism was based upon government imposed segregation, mob rule and not the ideals of the Republic.

Having said that, the notion or theory of "Race" is in fact fallacious. What people are alarmed at is not so much the color of one's skin, but the behavior formed by one's ethnic group and culture that is prejudicially associated with that skin color.

As a matter of disclosure, I have never met a 1st or 2nd generation Indian that I've liked! Why I'm not sure? They have never done anything to me personally, but its just a feeling I have, is it right probably not, do I care probably not!

They have cultural traditions that abhor me and most seem to be disinterested in assimilation, indifferent to US culture and society and see the US as a milk cow with no connections. But they do take care of the their own and are hardworking.

Key Economic Events Week of 4/19

4/22 8:30 ET Initial jobless claims
4/22 10:00 ET Existing home sales
4/22 10:00 ET LEI
4/23 9:45 ET April flash PMIs
4/23 10:00 ET New home sales

SteveW
Jun 5, 2016 - 7:46pm

Racism or Culture Shock?

J. Siefert: "I think defending one's own race and promoting healthy values among them is something to aspire to."

So do the true Swiss despise those who speak, German or French or Italian or Romansh?

I guess Paul Weston is too young to know of the racism directed against the displaced Poles who entered England after WWII. This was followed by racism directed at the black immigrants largely from Jamaica and then from Pakistan. It seems that Mr. Weston directs his racism primarily at Moslems.

I'm all for promoting healthy values but it seems that cultural differences are the major problem. Islam's treatment of women and honour killings are intolerable in Western society.

I wonder if he is really aware that the immigrant tsunami into Europe last year was an elite plan to destabilize Europe?

cashonly
Jun 5, 2016 - 6:35pm

Man shoots off leg (caution advised)

In Dr. J's post we discussed firearms and Safety First!! Here is a man shooting off a leg:

ingenious!!

(I was just advised that this individual, in a fit of rage after forgetting his mon-opod, decided to shoot off his OWN leg!!)

streberCalifornia Lawyer
Jun 5, 2016 - 5:16pm

Pining & Cali Law re media coverage

I recently noted to GF the difference on DirectTV b/t all the news media and (except)... Ch2119 (CCTV, Beijing).

MSNBC, CNBC, Faux, CNN, nearly continuous coverage of USSA upcoming election or side dishes of Harambe. Almost no coverage of the Venz disaster or so many of the other truly monumental events the world is now experiencing.

Whereas, CCTV is constantly roving the world, Africa, ME, S China Sea, Brazil. Yesterday a panel discussion on Venz.

I used to have Al Jazzera (excellent coverage of real events) but they shut down.

Yes, Amerikan TV is a joke.

AIJ
Jun 5, 2016 - 5:14pm

Culture is Religion Externalized

By Dr. George Grant (posted on Grantian Floriegium November 20)

Culture is simply a worldview made evident. It is basic beliefs worked out into habits of life. It is theology translated into sociology. Culture is a very practical expression of the common faith of a community or a people or a nation. Culture is, as Henry Van Til famously quipped, “religion externalized.”

What a person thinks, what he believes, what shapes his ultimate concerns, and what he holds to be true in his heart—in short, his faith or lack of it—has a direct effect on his material well-being, behavior, and outlook; on his sense of what is good, true, and beautiful; on his priorities, values, and principles. After all, “As a man thinks in his heart, so is he.”

What is true for one person is equally true for a whole community of persons. In 1905, Max Weber, the renowned political economist and “founding father” of modern sociology, affirmed this fundamental truth for modern social scientists in his classic work, The Protestant Ethic and the Spirit of Capitalism. He argued that the remarkable prosperity of the West was directly attributable to the cultural, personal, and ethical prevalence of the Christian tradition. In contrast to so many other cultures around the globe, where freedoms and opportunities were severely limited and where poverty and suffering abounded, Weber found that faith brought men and nations both liberty and prosperity.

The Christian faith changes people. Therefore, the Christian faith changes culture. The reasons for this are multitudinous:

First, true faith reorients all of us fallen and sinful men to reality. Because of our selfish proclivities we are all too naturally blind, foolish, ignorant, and self-destructive. More often than not, we are ruled by our passions, our lusts, and our delusions. We simply have a hard time facing reality without the perspective of faith. Faith in Almighty God, however, removes the scales from our eyes and the shackles from our lives. In Him we are at last acquainted to what is right, what is real, and what is true.

Sociologist James Gleason has said, “Faith serves us all well as a kind of reality-check. It is a transcendent value that enables us to more adequately and objectively evaluate our most bewildering situations and circumstances. In other words, it gives us a perspective beyond our own purblind vantage.”

A culture shaped by what is right, what is real, and what is true will manifest significantly art, music, literature, science, and ideas just as surely as a person shaped by them will.

Second, the Christian faith counteracts the destructive effects of sinful actions and activities. Sin is not a concept that has much currency with modern social scientists, economists, politicians, community organizers, civil rights activists, and social service providers. It has become rather politically incorrect to even speak of it. Men who have rejected God and do not walk in faith are more often than not immoral, impure, and improvident. They are prone to extreme and destructive behavior, indulging in perverse vices and dissipating sensuality. And they—along with their families and loved ones—are thus driven over the brink of destruction. On the other hand, faith reforms us with new and constructive values. We are provoked to moral and upright lives of diligence, purity, sober-mindedness, thrift, trustworthiness, and responsibility.

According to psychologist Nancy Hellman, “Where poverty, violence, and destruction germinate in the rotting soil of sin, productivity, harmony, and hope flourish in the fertile field of faith. If we were to recover the concept of sin in our society—even from a moderately secularized perspective—we would go a long way toward eradicating the evils of modern life.”

In other words, a culture that understands the character and nature of the Fall is going to be tangibly, substantively, and manifestly different than a culture that does not.

Third, the Christian faith establishes a future orientation in our hearts and minds. All too often the modern men and women either flounder in a dismal fatalism or we squander our few resources in an irresponsible impulsiveness. Many of us are terribly short-sighted, unmotivated, and naive. And “where there is no vision the people perish.” On the other hand, genuine faith provokes us to live thoughtfully, to plan, to exercise restraint, and to defer gratification in order to achieve higher ends. We are induced to self-control, wisdom, and careful stewardship in order to build for the future.

Bartok Havic, the great Czech historian, has said, “History’s record is clear: a people who cannot look past the moment, past the fleeting pleasures of fleshly indulgence, will be a people whose culture vanishes from the face of the earth. Ultimately, only faith gives men a sustaining vision for that which is other than their own selfish desires.”

Fourth, the Christian faith provokes us to exercise responsibility. Outside of the bounds of faith in God we are all naturally prone to selfishness, wastefulness, and sloth. Faith on the other hand enables see past ourselves, growing into selfless maturity. We are able to become more responsible to redeem our time. We are able to become more responsible to make the most of every opportunity. We are able to become more responsible to fulfill our calling in life. We are able to become more responsible to use our money wisely, to care for our families, to serve the needs of others, and to be an example of redemptive love before all men everywhere. It is this very kind of diligent responsibility—this very fruit of faith—that we most need if they are ever to fully recover the vision of life and culture that brought the Western world to flower.

“It is faith,” says George Gilder, “in all its multifarious forms and luminosities, that can by itself move the mountains of sloth and depression that afflict the world’s stagnant economies; it brought immigrants thousands of miles with pennies in their pockets to launch the American empire of commerce; and it performs miracles daily in our present impasse.”

Senator Ted Kennedy once asserted that, “The ballot box is the place where change begins in America.” Although he has been fiercely and vehemently wrong in the past, Kennedy has never been more wrong than this. As George Will has argued, “There is hardly a page of American history that does not refute that insistence, so characteristic of the political class, on the primacy of politics in the making of history.” In fact, he says, “In a good society, politics is peripheral to much of the pulsing life of the society.”

This is the great lesson of history: it is ordinary people of authentic Christian faith who are ultimately the ones who best able to shape the outcome of human events–not kings and princes, not masters and tyrants. It is laborers and workmen, cousins and acquaintances that upend the expectations of the brilliant and the glamorous, the expert and the meticulous. It is plain folks, simple people, who literally change the course of history–because they are the stuff of which history is made. They are the ones who make the world go round. For, as G.K. Chesterton said, “The most extraordinary thing in the world is an ordinary man and an ordinary woman and their ordinary children.”

Ultimately, that is our greatest hope for the future. It is simply that a new grassroots majoritarian emphasis on things that really matter–on the Gospel and its fruits–will emerge as we train up the next generation of culture-shapers. It is that a love for hearth and home, community and culture, accountability and availability, service and substance, morality and magnanimity, responsibility and restoration will capture hearts and minds and lives. It is a hope that may be stymied, obstructed, and hampered–but ultimately it cannot fail.

As the famed journalist H.L. Mencken once said, “The man who invents a new imbecility is hailed gladly, and bidden to make himself at home; he is to the great masses of men, the beau ideal of mankind. His madness must necessarily give way to right, sooner or later, though usually later.”

Or as the poet F.W. Faber wrote:

“For right is right, since God is God,

And right the day must win;

To doubt would be disloyalty,

To falter would be sin.”

https://reformedfaith.wordpress.com/2007/11/29/religion-externalized/

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4/22 8:30 ET Initial jobless claims
4/22 10:00 ET Existing home sales
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4/23 10:00 ET New home sales

Key Economic Events Week of 4/12

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4/9 8:30 ET PPI
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Key Economic Events Week of 3/29

3/30 9:00 ET Goon Quarles
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3/31 time TBA Biden Infrastructure speech
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4/1 10:00 ET ISM Manu PMI
4/1 10:00 ET Construction spending
4/2 8:30 ET BLSBS

Key Economic Events Week of 3/22

3/23 9:00 ET Goon Bullard
3/23 12:00 ET CGP and Mother on Capitol Hill
3/24 8:30 ET Durable Goods
3/24 9:45 ET Markit Flash PMIs March
3/24 10:00 ET CGP and Mother on Capitol Hill
3/25 8:30 ET Q4 2020 CDP final guess
3/25 12:00 ET Goon Bostic speech
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3/26 8:30 ET Personal Income and Spending
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Key Economic Events Week of 3/15

3/15 8:30 ET Empire State Index
3/16 8:30 ET Retail Sales
3/16 8:30 Import Price Index
3/16 9:15 ET Cap Ute and Ind Prod
3/16 10:00 ET Business Inventories
3/17 2:00 ET FOMC Fedlines
3/17 2:30 ET CGP presser
3/17 8:30 ET Philly Fed

Key Economic Events Week of 3/8

3/8 10:00 ET Wholesale Inventories
3/10 8:30 ET CPI
3/10 2:00 ET Federal budget
3/11 8:30 ET Initial jobless claims
3/12 10:00 ET JOLTS job openings
3/13 8:30 ET PPI
3/13 10:00 ET UMich sentiment

Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
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2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs