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Yellen Urges Development Banks To Stop Fossil Fuel Funding
Yellen Urges Development Banks To Stop Fossil Fuel Funding U.S. Treasury Secretary Janet Yellen is prepared to gather together the heads of development banks to persuade them to stop fossil fuel project funding, according to Bloomberg. The Treasury Secretary intends to “articulate our expectations that the MDBs align their portfolios with the Paris Agreement and net-zero […]
Transitory Inflation Turning Into an Inflationary Spiral
Transitory Inflation Turning Into an Inflationary Spiral Consumer prices have been rising precipitously this year. If you annualize the Consumer Price Index through the first five months of 2021, you get a CPI increase of over 6%. Federal Reserve Chairman Jerome Powell continues to push the narrative that inflation is transitory, but not everybody buys […]
U.S. Inflation Is Highest in 13 Years as Prices Surge 5%
U.S. Inflation Is Highest in 13 Years as Prices Surge 5% The rapid rise in consumer prices in May reflected a surge in demand and shortages of labor and materials The U.S. economy’s rebound from the pandemic is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by […]
Myth #22: Nate Hagens discredits claim “We Can Always Get More Resources If We Have More Money”
Myth #22: Nate Hagens discredits claim “We Can Always Get More Resources If We Have More Money” “We can create money, but we cannot create energy, only extract what exists — FASTER.” “We can create money, but we cannot create energy, only extract what exists — FASTER. And importantly, when money is created the interest is […]
Wells Fargo – Banking Crisis?
Wells Fargo – Banking Crisis? It has begun. Wells Fargo has told all its customers that it is shuttering down ALL personal lines of credit. The bank has made it clear that it is shutting down ALL existing personal lines of credit and it will no longer offer such products. That includes revolving credit lines, which typically […]
The show is over.
The show is over. Climate strike in Lausanne Tomorrow 150 weeks will have passed since we started to school strike for the climate. During this time more and more people around the world have woken up to the climate- and ecological crisis, putting more and more pressure on you — the people in power. Eventually […]
Oil Spreads Trading at Historically Unrealizable Levels
Oil Spreads Trading at Historically Unrealizable Levels Outright oil prices have continued to rally this year as economies recover from impaired pandemic levels, however calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration. In some respects this is less about a failure of […]
When Inflation is really Deflation
When Inflation is really Deflation QUESTION: Why is the Fed doing so much Reverse Repo? Do you think it will hit $2 trillion? JE ANSWER: I understand that people seem to be talking up the reverse repo activity as doom and gloom. The Federal Reserve has been raising interest rates and boosted the return to fight inflation. […]
Grocery Stores Are Masking Price Hikes Via “Shrinkflation”
Grocery Stores Are Masking Price Hikes Via “Shrinkflation” The continued decline in Treasury yields has prompted many short-sighted arm-chair analysts to declare that the Fed was right about inflationary pressures being “transitory”. Of course, as Treasury Secretary Janet Yellen herself admitted, a little inflation is necessary for the economy to function long term – because without “controlled […]
We Are Entering The Age Of “Full John Galt”
We Are Entering The Age Of “Full John Galt” We are entering the age of “Full John Galt.” This is a time where society and politicians are rapidly dismantling the rights of ownership. This transfer of rights constitutes a transfer of wealth whether we wish to call it by that name or not. This is […]
Wells Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The Edge
Wells Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The Edge Wells Fargo just announced that it’s shutting down all of its existing personal lines of credit – a popular product offered by the retail-focused Wall Street giant – a move that will likely infuriate legions of customers. The revolving credit […]
Canada Spent $23 Billion to Support Pipelines in Just Three Years
Canada Spent $23 Billion to Support Pipelines in Just Three Years Taxpayers should understand the financial and climate risks of the big commitment, says an independent report. Governments’ financial support for pipelines is financially and environmentally risky, says a report. Photo from Trans Mountain. Canadian pipelines have received over $23 billion in support from federal and […]
European Bank For Reconstruction And Development Ends All Upstream Oil Financing
European Bank For Reconstruction And Development Ends All Upstream Oil Financing The European Bank for Reconstruction and Development (EBRD) will no longer invest in oil and gas exploration and production, the bank’s Managing Director Harry Boyd-Carpenter told Reuters as the institution pledged to align all its activities to the Paris Agreement goals from the end of next […]
While Fed Is in Denial, Hawkish Bank of Russia Sees Inflation as “Not Transitory,” Warns of Possible Shock-and-Awe Rate Hike
While Fed Is in Denial, Hawkish Bank of Russia Sees Inflation as “Not Transitory,” Warns of Possible Shock-and-Awe Rate Hike US Inflation is almost as hot as in Russia, but the Fed is still blowing it off. Consumer price inflation in Russia is red-hot, having jumped 6.0% in May compared to a year ago, 2 […]
