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You Can’t Make This Up
Via Kevin Muir of “The Macro Tourist” fame
Lots of well-meaning pundits are pounding the table on the fact that although the Federal Reserve is raising rates, financial conditions are easing, muting the rate rises effects.
Well, these financial prognosticators might have good intentions, but the reality is that this is nothing new. I don’t deserve any credit for this next observation - it was brought to my attention by Bloomberg reporter Luke Kawa. Over the past three hiking cycles,
Hello Mr. H,
“I don’t want to appear as to too much of a pro-Canada cheerleader, as trust me, we have more than our share of absolute mind-numbingly stupid politicians,… ”
Are you Canadian, eh!? That would go a long way to explaining your unorthodox view of American capitalism and social policy. Love your work…even if I have not agreed with your bearish stance on the market (so far).
i did not write this. and i am not canadian.
note the attribution at the top of the article.
My mistake, and my apology (It was certainly not meant as an insult).
Mrs Mnuchin….puts on a glove to touch her man……he needs the whip now and then methinks.
“But if they are wrong, and oil is displaced more quickly, then owning crude oil equities will only exacerbate Norway’s problem.”
As stated, the problem is oil market volatility in the face of rapidly advancing more efficient production technologies and geopolitics – which will persist until the remaining economically develop-able portion the approximately 70% of global reserves are depleted beyond technical or economic recourse.
This is not an “if” question regarding oil displacement. The answer is very well known. And that answer is not that current alternative energy technology or development is going to replace oil and other traditional energy sources sooner than the most optimistic of us thinks. I challenge anyone to examine the current alternative energy contributions to global energy demand (solar, wind, geothermal, biomass, etc. at 6.3%) and conclude that they are going to change the fossil fuel economic paradigm in the foreseeable future.
The current development history and speed, and finite resource limitations of current alternative energy simply do not support a conclusion of current alternative energy satisfying anything other than a fraction of global energy demand. Worse, there is no technology even on the commercialization horizon that will logically support such a future conclusion.
Oil and other fossil energy futures at best will highly volatile and they will make less money than they have historically. That does not mean that the fossil energy paradigm is disappearing anytime soon.
“Wipe up your spittle from my boots with these, you little people!”
Definitely can’t make fiction comparable to today’s reality.
I suffer from Trump corruption fatigue – like most reasonably intelligent people in the country, but there’s no getting away from this slimy con artist’s long history of corrupt involvements and scandals right up until he ran for election. Unrelated to Trump I was doing some research related to some Florida state pension mismanagement issues. (Yeah, I know who would have guessed that another Republican Governor would manage the system any better than the past one – Jeb Bush – that literally bankrupted the Florida retirement system with bad investments.)
So, first I thought I would look into who our State Attorney General was politically. Low and behold, but unsurprisingly, I find another Trump election and political scandal involvement. (https://en.wikipedia.org/wiki/Pam_Bondi#Controversies). Florida went for Trump in the election and this is a sample of just how uninformed and generally mentally deficient Trump voters are – well at least those that aren’t involved in one of his scams. Folks this country is in serious trouble with its corrupt politics – and while it isn’t just Trump and Republicans it sure seems like the Rs have far more than their share of corrupted politicians.