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It’s Easier To Pretend Our Economic System Works And Just Blow Endless Asset Bubbles
It’s Easier To Pretend Our Economic System Works And Just Blow Endless Asset Bubbles Yesterday saw the US comprehensively beat China. Not in any sporting sense, and certainly not in any dimension of the current Cold War: and for those who still like to think the latter isn’t happening, just listen to what US Attorney […]
“Uneven” Freight Recovery after New Covid Outbreaks: Daily Truck Trips Already Fell 10% Since June 25
“Uneven” Freight Recovery after New Covid Outbreaks: Daily Truck Trips Already Fell 10% Since June 25 Was June as Good as It’s Going to Get in the Pandemic Era? Automakers have been reopening their assembly plants in the US, hobbled by setbacks, including supply chain issues. Other manufacturers too have reopened their plants. Housing construction […]
It’s the preppers who are laughing now
It’s the preppers who are laughing now Since the crash of 2008 much has been made of the fact that the world did not end or the sky fall in on us – unless of course you are one of the people who have been touched by bankruptcy, homelessness, addiction or even suicide as a […]
Business-as-usual porn – or, We need to talk about collapse
Business-as-usual porn – or, We need to talk about collapse I think we need to talk openly and calmly about the possibility of societal or civilizational collapse arising from humanity’s present predicaments. And that’s mostly what I want to pursue in this post – not so much what the likelihood or the underlying mechanisms of […]
This Is a Financial Extinction Event
This Is a Financial Extinction Event The lower reaches of the financial food chain are already dying, and every entity that depended on that layer is doomed. Though under pressure from climate change, the dinosaurs were still dominant 65 million year ago–until the meteor struck, creating a global “nuclear winter” that darkened the atmosphere for months, […]
Humpty Dumpty System is Irreparable
HUMPTY DUMPTY SYSTEM IS IRREPARABLE What does it take to break the global financial system? Well, we obviously know what it takes since the system is already broken. Broken by debts, broken by deficits, broken by a fractured financial system, and broken by false markets as well as fake money. So just like Humpty Dumpty, the […]
There Are Nationwide Shortages Of Aluminum Cans, Soda, Flour, Canned Soup, Pasta And Rice
There Are Nationwide Shortages Of Aluminum Cans, Soda, Flour, Canned Soup, Pasta And Rice I had no idea that things had gotten so bad. Earlier today, my wife spoke with the manager of a local grocery store because she wanted to place a large order for some canned goods. What she was told surprised her, […]
Is Jason Kenney Ready to Bet Albertan Pensions on Failing Fossil Fuel Firms?
Is Jason Kenney Ready to Bet Albertan Pensions on Failing Fossil Fuel Firms? The UCP government is moving to take control of citizens’ savings — and they should be very worried. Cautious. Reliable. Boring. Those are words that are appropriately associated with pension fund management. However, pensions have recently become a hot button political issue […]
It Starts: Mortgage Delinquencies Suddenly Soar at Record Pace
It Starts: Mortgage Delinquencies Suddenly Soar at Record Pace And this is just for April, the very beginning of the Pandemic’s impact on housing. OK, it’s actually worse. Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent. They’re reported as “current.” And 8.2% of all […]
Consumer Prices Soar By Most In 11 Years In June On Rebound In Fuel Costs
Consumer Prices Soar By Most In 11 Years In June On Rebound In Fuel Costs After three months of ‘deflation’, consumer prices were expected to rebound strongly in June and it did, with headline CPI beating expectations (+0.6% MoM vs 0.5% exp). That is the biggest monthly jump since June 2019… Both Goods (Ex-Energy) and Services […]
Cracks in the supply chain: Is metastable turning into unstable?
Cracks in the supply chain: Is metastable turning into unstable? You who are reading this sentence are metastable systems. So, is the biosphere, and so is all of human society. A metastable system is one that remains stable so long as the inputs necessary to maintain its stability are available. For humans this includes food […]
What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?
What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time? Europe may be about to find out. 128 days with my Mother-in-Law. As market players cling to the hope that a V-shaped economic recovery is still possible in Europe, to match the central-bank engineered rebounds of benchmark indexes such as Germany’s DAX […]
Rabobank: “We Live In A Pretty Crazy World Right Now”
Rabobank: “We Live In A Pretty Crazy World Right Now” Crazy World I think we can all agree that we live in a pretty crazy world right now: and that’s an appropriate title for the Daily today too, for reasons that will be explained shortly. It’s a world where we are seeing staggering increases in […]
Oil Price Crash Sparks A Wave Of Banking Mergers In The Middle East
Oil Price Crash Sparks A Wave Of Banking Mergers In The Middle East The historic oil price crash and Covid-19 pandemic have left major producers of the commodity in a deep economic crisis. Dramatic production cuts by OPEC+ has exacerbated the situation by further lowering export inflows for economies that depend heavily on oil dollars. […]
Weekly Commentary: Utmost Crazy
Weekly Commentary: Utmost Crazy The Shanghai Composite surged 7.3% this week, increasing y-t-d gains to 10.9%. The CSI 300 rose 7.6%, with 2020 gains of 16.0%. China’s growth-oriented ChiNext Index’s 12.8% surge boosted year-to-date gains to 54.5%. Copper jumped 7.1% this week. Aluminum rose 4.6%, Nickel 4.0%, Zinc 8.3%, Silver 4.2%, Lead 4.2%, and Palladium […]
