- European Stocks Fall as Chinese Economic Data Disappoint (WSJ)
- Oil Climbs to Highest Since November as European Shares Retreat (BBG)
- Yen weakens on Japan intervention talk before G7 meets (Reuters)
- Wall Street’s Bond Forecasters Splinter as Fed Credibility Wanes (BBG)
- Amazon to Expand Private-Label Offerings—From Food to Diapers (WSJ)
- Oil prices rise on Nigerian outages, Goldman forecast (Reuters)
The globalist reset needs a trigger, a crisis which admittedly we do not have the ability to avoid. But, the reset also depends on the right people in place to rebuild the system after the crisis unfolds. Here is where the future can be determined. Whoever is left standing after the opening salvo will have a choice: to hide and hope for the best, or to fight for the position to choose who builds tomorrow. Will it be the psychotic globalist cabal, or will it be free people of conscience? It may not seem like it now, but the end result is up to us.
Given that we all have to eat and that there are some concerning environmental developments out there, here’s an interesting question: has global warming led to higher or lower food prices (thus far)?
- Brussels on Edge as Lockdown Continues (WSJ)
- Stocks Pare Decline as Crude Oil Erases Drop on Saudi Comments (BBG)
- Italy’s Eni Plans to Pump Arctic Oil, After Others Abandon the Field (WSJ)
- Treasuries Decline as Economists Say GDP to Be Revised Higher (BBG)
- Why the Housing Rebound Hasn’t Lifted the U.S. Economy Much (WSJ)
- Argentina Fever Is Back for Investors as Kirchner Rival Triumphs (BBG)
The trouble with the money printing madness in the Eccles Building is that it generates huge deformations, misallocations and speculative excesses in the financial markets. Eventually these bubbles splatter, as they have twice this century. The resulting carnage, needless to say, is not small. Combined financial and real estate asset markdowns totaled about $7 trillion after the dotcom bust and $15 trillion during the 2008-2009 financial crisis. The Wall Street casino is now festooned with giant deadweight losses waiting to happen. But perhaps none is more egregious than Tesla - a crony capitalist con job that has long been insolvent, and has survived only by dint of prodigious taxpayer subsidies and billions of free money from the Fed’s Wall Street casino.
After weeks of preparation by an umbrella group that calls itself the Santa Claus Repudiation Organization Offering Greater Education, students at campuses across America spent Christmas Eve protesting what they consider a dangerous symbol of everything that is wrong with the world today.
China may be bad, but there are far worse places to be.
In the Oval Orfice...
- House Unveils $1.01 Trillion Measure to Fund Government (BBG)
- Credit Suisse Tells Junior Bankers to Take Saturdays Off (BBG)
- Spot the odd word out: ECB Sees Bad-Debt Rules as Threat to Credible Bank Review (BBG)
- Insert laugh track here: Spain GDP grows at fastest pace in almost six years (FT)
- Scandinavian Debt Crisis Waiting to Happen Puzzles Krugman (BBG)
- Fed Said to Release Plan to Limit Banks’ Commodities Activities (BBG)
- Thai Protesters Extend Blockade After Rejecting Poll Talks (BBG)
- China provinces set lower growth goals for 2014 (BBG)
"Like most members of the Congress that passed it and, undoubtedly, the president of the United States who signed it, I have not read the entirety of the ill-named Patient Protection and Affordable Care Act. Yet there is one aspect concerning that legislation of which I am certain: I will not comply."
[Summer|Winter]: watch out.
- OBAMA TO USE ADMINISTRATIVE AUTHORITY TO FIGHT CLIMATE CHANGE
- OBAMA TO INVEST IN TECHNOLOGY TO MAKE FOSSIL FUELS CLEANER
- OBAMA CLIMATE PLAN IS NOT A WAR ON COAL, MONIZ SAYS
We have no idea what any of that means or what administrative authority Obama has to unilaterally declare war on, well, climate. But if Obama is taking on the unprecedented Arctic heat cold and is about to usher in centrally-planned weather, we would be nervous if we were Syria. Very nervous.
The world supply of crude oil isn’t going to run out any time soon, and we will be producing oil for decades to come. However, what we won’t be doing is producing crude oil – petroleum – at the present rate of around 30 billion barrels per year. For a global civilization that is based almost entirely on a plentiful supply of cheap, crude oil, this is going to present some considerable challenges.
Revenues are declining. Hence the need to cut costs. Solution: offshoring to a cheap country! And it's not the only one.
If You Don't Believe In Global Warming, Please Forward This to Your Friends Who Do
The provincial government in Alberta is mulling new rules that would require the oil industry to cut greenhouse gas emissions tied to oil sands production by as much as 40 percent per barrel. The measure may be part of the federal government's push to allay Washington's concerns about the Keystone XL pipeline. Some of the concern surrounding the production of oil sands, the type of oil designated for the controversial pipeline, is that it's more carbon intensive to produce than conventional oil. Alberta's government has expressed concern that it won't be able to meet its emission targets without new rules, though some in the oil industry may be already ahead of the game. While emissions may be part of the debate over the controversial cross-border pipeline, a financial analysis suggests the Canadian government is looking in the wrong direction.