Canada, the Supreme Court hold that Carbon Tax is Constitutional
Canada, the Supreme Court hold that Carbon Tax is Constitutional In Canada, the Supreme Court ruled Thursday that Ottawa has the power to impose a carbon price across the country as a “matter of national concern.” This is a major win for Trudeau and he can really make sure that the Canadian economy further declines to enable […]
Suez Canal Crisis Morphs Into Global Supply Chain Wrecking Ball
Suez Canal Crisis Morphs Into Global Supply Chain Wrecking Ball The world got another wake-up call this week about the overreliance on complex global supply chains. As of Friday, the massive containership, “Ever Given,” remains stuck in the canal, unable to be refloated, paralyzing the world’s most important shipping lane. Ever Given is one of the world’s […]
Between the Devil and the Green New Deal
BETWEEN THE DEVIL AND THE GREEN NEW DEAL We cannot legislate and spend our way out of catastrophic global warming. From space, the Bayan Obo mine in China, where 70 percent of the world’s rare earth minerals are extracted and refined, almost looks like a painting. The paisleys of the radioactive tailings ponds, miles long, […]
Are We Staring At A Coming Systemic Breakdown & The End Of Capitalism?
Are We Staring At A Coming Systemic Breakdown & The End Of Capitalism? Michael Every of Rabobank is concerned we are For any problems they face, governments all over the world are now conditioned to simply deficit spend or issue new $trillions in ‘thin air’ currency. So how in danger are we of that recklessness […]
Weekly Commentary: Powell on Inflation
Weekly Commentary: Powell on Inflation The Treasury yield spike runs unabated. Ten-year Treasury yields rose another 10 bps this week to 1.72%, the high since January 23, 2020. The Treasury five-year “breakeven” inflation rate rose to 2.65% in Tuesday trading, the high since July 2008. The Philadelphia Fed’s Business Survey Prices Paid Index surged to […]
OPEC+ Will Keep A Lid On Oil Production
OPEC+ Will Keep A Lid On Oil Production OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of the need to tread lightly when it comes to how much oil is put into the market. […]
How Will We Pay for the Energy Transition?
How Will We Pay for the Energy Transition? Earlier this month, the International Renewable Energy Agency said the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to 1.5 degrees Celsius. That’s 30 percent more than what is currently planned. It’s also equal to investments of $4.4 […]
Wrong… Again
Wrong… Again The Federal Reserve met last week and voted to keep interest rates unchanged. What a shock! The Fed also gave an upbeat forecast of economic growth, predicting that the U.S. economy will grow 6.5% this year, its highest rate in nearly 40 years. Its December 2020 forecast projected 4.2% growth. The Fed also […]
Yield Curve Control: Bubbles And Stagnation
Yield Curve Control: Bubbles And Stagnation Central banks do not manage risk, they disguise it. You know you live in a bubble when a small bounce in sovereign bond yields generates an immediate panic reaction from central banks trying to prevent those yields from rising further. It is particularly more evident when the alleged soar […]
Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard”
Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard” “Once crisis tools have served their purpose, central banks should scale them back.” The Bank of Canada will unwind its crisis liquidity facilities, will further reduce its purchases of Government of Canada bonds, which it already started tapering in October, will let short-term […]
Texas Freeze Creates Global Plastics Shortage
Texas Freeze Creates Global Plastics Shortage First, it was a demand slump across pretty much every manufacturing industry because of the pandemic. Then a surge in demand for electronics caused a shortage of microchips, which hit the automotive industry particularly hard. Now, the Texas Freeze has caused a global shortage of plastics. The Wall Street Journal reported this […]
The Rise & Fall of Empires, Nations, & City States has been Going on for Thousands of Years – It’s Just Our Turn!
The Rise & Fall of Empires, Nations, & City States has been Going on for Thousands of Years – It’s Just Our Turn! COMMENT: Marty: I was re-reading Herodotus and saw early in his book a reference to the rise and fall of civilizations pertinent to the concept of capital flows: Herodotus, Histories 1:5 “For many […]
“Get Ready For Some Serious Sticker Shock Very Soon: This Jump In Inflation Won’t Be Transient”
“Get Ready For Some Serious Sticker Shock Very Soon: This Jump In Inflation Won’t Be Transient” Semiconductor Costs Could Lead to a Shock This Fall Consumer confidence is key to how people plan to spend. You can see it in the chart below. And as the chip shortage grows, expect the higher prices to begin […]
