Independent thinking for complex markets and current events
by TonyLiberty Oil prices are predicted to hit $100 per Barrel by 2024 due to: 1) Supply Crunch from OPEC+: The main reason behind this forecast change is the “lower for longer” supply strategy employed by Saudi Arabia and its OPEC+ partners. They’re determined to cut down oil inventories and boost prices. 2) Global Demand: …
by TonyLiberty The Auto strike could send car prices soaring. Anderson Economic Group estimates that a 10-day strike of the Big Three automakers would cause economic losses of $5.6 Billion. The union is initially striking only three plants, one each for Ford, General Motors, and Chrysler parent Stellantis. Manufacturing of motor vehicles and parts directly …
The 2023 Permanent Fund dividend will be $1,312, the Alaska Department of Revenue said Thursday. The annual payments to Alaskans will be disbursed beginning Oct. 5 and continue in the following weeks, the department said. The Permanent Fund dividend amount hasn’t followed the dividend formula set in state statute since 2016 — with lawmakers saying …
The CEO of Chevron predicts that oil will soon surpass $100 per barrel. This is one of the largest companies in the world. SPR is drained. China is loading up on oil. It's not the smartest look. — Gold Telegraph ⚡ (@GoldTelegraph_) September 21, 2023 $150 Oil 🛢 is SO post election pic.twitter.com/04EnN3TZJf — Win …
Olive oil is the latest commodity to see huge price hikes as it faces extreme weather during its production. The average price in August was 130% higher compared to the year before. Global prices for olive oil were at $8,900 per ton in September driven by extremely dry weather in the Mediterranean, according to a …
via CBC: As Canadians celebrate this month’s fall in food prices and politicians join the national sport of shaking their fists at grocery store owners, it might be time to listen to a gloomier prediction, if just to help prevent it from happening. After a two-year bout of inflation — when price rises peaked at …
Canadian Inflation Climbs to 4.0% in August, Driven by Soaring Gasoline Prices – Bank of Canada Pauses Rate Hikes Amid Economic Contraction In August, Canada experienced a notable inflation rate surge, reaching 4.0%, primarily attributed to the steep rise in gasoline prices. This rapid increase in consumer prices has raised concerns about the overall economic …
The rising gas prices are causing a familiar concern for Americans as they approach the $4.00 mark once again, reminiscent of the situation in August 2022. However, a key difference is that back in August 2022, the US Strategic Petroleum Reserves (SPR) had 100 million more barrels of oil in its arsenal, providing a cushion …
via aljazeera: Canadian Prime Minister Justin Trudeau has warned grocery chains that they could be hit with new taxes if they do not take steps to control rising food prices. Trudeau said the heads of the five largest supermarket chains, including Walmart and Costco, would be asked to come up with a plan to address …
CONFIDENCE: you didn't hear this from Old Wall Media during Friday's stock market decline But it still happened. US Consumer Confidence falling (again) as Gas Prices go up and stocks keep making lower-highs pic.twitter.com/kxw49wOK6A — Keith McCullough (@KeithMcCullough) September 16, 2023 After Tech stocks crashed in August, the Nasdaq VIX made a new low this …
The fight against inflation is still ongoing… OPEC just said that global oil markets will face a massive supply shortfall next quarter. They expect a supply shortfall of more than 3 million barrels per day. If OPEC is correct, it would result in the biggest inventory drawdown since 2007. Voluntary production cuts by OPEC… pic.twitter.com/9I1ZPWrzU8 …
by confoundedinterest17 Jerome Powell is the God of Hellfire and he brought us …. FIRE! By rapildy raising The Fed’s target rate rapidly. And then sending mixed signals as inflation begins heating up … again. WTI crude just hit $90. Rising oil prices may be one of the reasons. After yesterday’s hotter than expected rebound in …
by confoundedinterest17 Danger Will Robinson! Danger! Median sales price of homes in the US sank by -7.4% in Q2 2023. This is particulary dangerous since it was the worst correction in home prices since two rather nasty recessions of 1970 and 2008 (The Great Recession and financial crisis). This correction occured as M2 Money growth (green …
by TonyLiberty Disney $DIS is facing a bunch of challenges that have caused its stock to plummet, and its market value to decline by over $200 Billion: 1) Declining Disney+ subscribers 2) Ongoing Hollywood strike 3) Fee dispute with the second-largest cable company Netflix $NFLX has seen a 50% surge in its shares this year …
US oil inventories have collapsed as measured by days of supply as well. Below 1982 levels! pic.twitter.com/N7Ps2UGo6w — Josh Young (@JoshYoung) September 9, 2023 h/t Simian_Stacker
Gas prices could jump as much as $1 in the coming days, according to recent prediction Sources tell fuel app GasBuddy that a refinery outage could be to blame. Author: David Griswold September 8, 2023 CHICAGO — Minnesota motorists could see a massive spike in prices at the pump in the coming days, according to …
by confoundedinterest17 Its hard to watch Biden and The Progressive Greens destroy the enegy security of this great nation. Biden is draining the Strategic Petroleum Reserve, probably in a misguided attempt at ensuring we never go back to abundent petroleum again. Crude oil inventories are now the lowest since 1985. Authored by Simon White, Bloomberg …
via Mike Shedlock: If the Fed is taking economic clues from the Services ISM or from energy, it’s not done hiking. Manufacturing is a different story. ISM chart and excerpts below by permission from the Institute for Supply Management® ISM® Please consider the August 2023 Services ISM® Report On Business® emphasis mine. Economic activity in the services sector …
We’re canceling all remaining oil and gas leases issued under the previous administration in the Arctic Refuge and protecting more than 13 million acres in the Western Arctic. As the climate crisis warms the Arctic, we have a responsibility to protect this treasured region for… — Joe Biden (@JoeBiden) September 7, 2023 What you’re really …
The rig count is still in plunge mode… *A cumulative $4.9T of investments in global upstream oil and gas are needed by 2030 to meet market needs and prevent a supply shortfall" —International Energy Forum (IEF) and S&P Global Commodity Insights. https://t.co/8mRu56mQ9e pic.twitter.com/EoXmE1DPHd — Lawrence McDonald (@Convertbond) September 4, 2023 BREAKING: Crude oil prices rise …
by confoundedinterest17 You know Bidenomics isn’t working at all when the best I can say about it is … the current housing bubble isn’t as bad as the house price bubble of 2006. We are truly in Biden’s ShamWow economy! Yes, if I look at real home prices less real median earnings we can see that …
by InternationalTop2405 https://twitter.com/NorthmanTrader/status/1698305955610390944
by EuphoricTrilby Bidenomics: Create 15% food inflation with reckless Covid policy and mandates, then take credit for when inflation “falls” to 6%. https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/ Americans work three jobs in a single household to put food on the table. Americans on Maui are still digging their dead children from the rubble. And the most most corrupt administration …
by confoundedinterest17 We are livin’ la vida Bidenomics! The 30-year conforming mortgage rate is currently 7.23%, up 161% under Biden and Bidenomics (code for massive Federal spending on green initiatives that go to large Democrat donors and Ukrainian oligarchs). Meanwhile, M2 Money supply is up 9.4% under Biden. At the same time. home prices are …
by confoundedinterest17 Middle class Joe my ^%&! Joe Biden will always be remembered for lying about never raising taxes on households making under $400,000. Inflation is a permanent tax, mostly on those making under $400,000 per year. And household essentials are up substantially under Biden: gasoline prices are up 72%, rent CPI of Primary Residence is …
Meanwhile, PPI for construction materials is up 11% YoY over the last three years, potentially putting more pressure on homebuyers as the demand for new homes continues to increase. https://t.co/rfFs5LNsry — David Sommers (@dgsommersmkts) August 23, 2023 Mortgage rates reached +14.75% in 1979. And then this happened 👀 pic.twitter.com/0ykTQHvNrE — Genevieve Roch-Decter, CFA (@GRDecter) August …
(Kitco News) – Despite the recent selling pressure, analysts note that the gold market is holding up remarkably well, given that bond yields have risen to a fresh 15-year high. Overnight, the yield on U.S. 10-year bonds pushed to 4.36%, its highest level since late 2007. Analysts note that the rise in bond yields is …
1. Adjusting for inflation, home prices are up 118% since 1965, while median household income has increased by just 15%. (2/9) pic.twitter.com/NeogOIDjIu — The Kobeissi Letter (@KobeissiLetter) August 21, 2023 Worrying Sign Not Seen Since the Great Recession: Mortgage Rates Could Hit 8% Mortgage rates exceeding 7% are straining the U.S. housing market with potential …
