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Risk Was Never Low, It Was Only Hidden
Risk Was Never Low, It Was Only Hidden The vast majority of market participants are about as ready for a semi-random “volatility event” as the dinosaurs were for the meteor strike that doomed them to oblivion. Judging by euphoric gambler–oops I mean “investor”–sentiment and measures of volatility, risk of a market drop has been near-zero […]
World’s Largest Commodity Traders Face Massive Margin Calls As Global NatGas Arb Explodes
World’s Largest Commodity Traders Face Massive Margin Calls As Global NatGas Arb Explodes Just one week ago, we highlighted the first victim of the latest “rogue wave” in global natural gas markets. As Miami-based Statar Capital gave up its “hefty gains” from earlier in the year, tumbling into the red amid the NatGas market turbulence, we warned that it […]
Electricity bills in Italy rise by almost 30 percent from Friday
Electricity bills in Italy rise by almost 30 percent from Friday Energy prices are set to rise in Italy this week despite government interventions. Photo: Sebastien Bozon/AFP Households and businesses in Italy will be paying more for electricity and gas from Friday with another steep price rise at the start of the third quarter, despite […]
The Coming Trucking Apocalypse – What’s Causing It?
The Coming Trucking Apocalypse – What’s Causing It? “While you’re sleeping, they’re hauling. Have you thanked a trucker?” – Anonymous. Even though the Coronavirus has wreaked havoc in the lives of people worldwide, truckers have been struggling to keep the country moving. Global lockdowns, massive shifts in consumer spending and supply chain issues, raw material […]
“Global Supply Chain Crisis To Last Until 2023,” Says Middle East’s Largest Port Operator
“Global Supply Chain Crisis To Last Until 2023,” Says Middle East’s Largest Port Operator Global central bankers have been out and about continuing to promote a narrative that inflation is “transitory.” We’ve seen it from the likes of Powell, Lagarde, Bailey, and Kuroda. Logically, these monetary wonks are right, inflation caused by supply chain bottlenecks […]
“It’s A Really Dangerous Situation” – Afghanistan Faces Imminent Blackouts As Power Bills Skyrocket
“It’s A Really Dangerous Situation” – Afghanistan Faces Imminent Blackouts As Power Bills Skyrocket While the Taliban are clearly preoccupied with the security situation inside the Islamic Emirate of Afghanistan, as emphasized by Sunday’s bombing at a major mosque in Kabul (ironically, the former insurgents are facing an insurgency of their own led by ISIS-Khorasan, […]
Take us to DEFCON 1
Take us to DEFCON 1 The US military defines its Defense Readiness Condition (DEFCON) levels as follows: DEFCON 5 is normal readiness. DEFCON 4 is above normal readiness. DEFCON 3 is the air force ready to mobilize in 15 minutes. DEFCON 2 is all forces ready to fight in 6 hours. DEFCON 1 is the […]
German Power Plant Halted After It Runs Out Of Coal
German Power Plant Halted After It Runs Out Of Coal In the history of the world, German electricity prices have never been higher… … and if what just happened at the Steag Bergkamen-A electric plant is any indication, they are about to get a whole lot higher. According to Bloomberg, the global energy crisis has forced […]
Dutch Greenhouses Go Dark As Energy Crisis Worsens; Food Inflation Fears Mount For Europe
Dutch Greenhouses Go Dark As Energy Crisis Worsens; Food Inflation Fears Mount For Europe Soaring European gas and electricity prices are getting worse by the day, forcing a vast network of Dutch glasshouses, the largest on the continent, to limit output or go entirely dark, according to Bloomberg. This could have a devastating impact on food […]
Banks Around World Are Suffering Big Outages, Leaving Millions of Customers in Lurch At Worst Possible Time
Banks Around World Are Suffering Big Outages, Leaving Millions of Customers in Lurch At Worst Possible Time Twenty banks (some suffering repeated outages), six countries (one in lockdown), five continents, tens of millions of unhappy customers. There’s never a good time for your bank’s IT system to go down. But few can be worse than […]
The Looming Energy Crisis: People Are Going To Die This Winter
The Looming Energy Crisis: People Are Going To Die This Winter For many months myself and many of the investors I work with have become increasingly concerned at the growing instability and insecurity of energy markets. The 4 times spike in Gas prices this year has been a shocking wake-up call, highlighting energy insecurity in […]
‘Green growth’ doesn’t exist – less of everything is the only way to avert catastrophe
‘Green growth’ doesn’t exist – less of everything is the only way to avert catastrophe It is simply not possible to carry on at the current level of economic activity without destroying the environment ‘Combined impacts are laying waste to entire living systems.’ A dead North Atlantic right whale washed up on a beach in […]
The Market Crash Nobody Thinks Is Possible Is Coming
The Market Crash Nobody Thinks Is Possible Is Coming The banquet of consequences is being served, and risk-off crashes are, like revenge, best served cold. The ideal setup for a crash is a consensus that a crash is impossible–in other words, just like the present: sure, there are carefully measured murmurings about a “correction” but nobody […]
“Transitory” is the New Spandex: Powell Admits it, Still Denies its Cause. Why this Inflation Won’t Go Away on its Own
“Transitory” is the New Spandex: Powell Admits it, Still Denies its Cause. Why this Inflation Won’t Go Away on its Own Blames tangled-up supply chains but not what’s causing supply chains to get tangled up in the first place: The most grotesquely overstimulated economy ever. Fed Chair Jerome Powell, during a panel discussion hosted by […]
Head Wind: When the Crisis Became a Business
Head Wind: When the Crisis Became a Business
