Independent thinking for complex markets and current events
NEW DELHI/SINGAPORE, – India’s Reliance Industries, operator of the world’s biggest refining complex, has purchased 5 million barrels of Iranian crude, days after the U.S. temporarily removed sanctions on the oil, three sources familiar with the matter said on Tuesday. The Indian refiner bought the oil from the National Iranian Oil Co., two of the …
Benjamin Netanyahu has announced that Israel is preparing to completely end its reliance on U.S. military aid. He says his goal is to make Israel’s arms industry entirely self-sufficient. Netanyahu says Israel never asks the United States to fight its wars. pic.twitter.com/rmHO08JVUE — Shadow of Ezra (@ShadowofEzra) November 13, 2025 Israeli Prime Minister Benjamin Netanyahu …
BREAKING: ENORMOUS victory as the 70% of rare earths we get from China will PLUMMET to 0% by the end of President Trump’s term – through domestic production and American jobs. This is HUGE! Department of War has created a $400 MILLION partnership for rare earths to END reliance on China. “We will be able …
Authored by Mike Shedlock via mishtalk, Political pressure on the budget showdown will mount. ACA Plan Costs Expected to Jump The Wall Street Journal discusses ACA Costs and Subsidies Premiums for ACA plans are expected to increase steeply in most states next year, with many insurers hiking rates 20% or more, due largely to higher spending …
The Defense Department is quietly reshaping its AI strategy. Behind the scenes, officials are testing new systems to reduce reliance on outside vendors like Palantir Technologies. The shift comes despite Palantir’s recent $795 million contract boost for its Maven Smart System, which now totals $1.3 billion through 2029. That expansion was approved in May 2025, …
This is quite consequential. China, Japan, South Korea and the countries of ASEAN just issued a joint statement (https://asean.org/joint-statement-of-the-28th-asean3-finance-ministers-and-central-bank-governors-meeting/) in which they take a unified stance against “escalating trade protectionism”, a clear reference to Trump’s tariffs. They write that their common “policy priority” is “to reinforce long-term resilience” of the region, which given the policies …
Fundamental misunderstanding of the technology. Waymo requires human code, mapping, and a very expensive and extensive process to outfit vehicles with self-driving sensors. Tesla has solved self-driving with 8-9 cameras and an onboard computer, costing no more than $2k in additional parts. Tesla can manufacture 2-3 million Robotaxis per year at an average cost
In this trade war, both the U.S. and China have their advantages, but when it comes to holding out longer, the U.S. seems better equipped to endure. China does hold some significant cards. For one, Chinese households boast high savings, totaling 132 trillion RMB, and 92% homeownership, which could help buffer individual consumers in the …
BRICS Unveils Symbolic Banknote, Pushes for Local Currency Trade Amid Dollar Debate At the BRICS summit in Kazan, a symbolic banknote featuring the flags of member nations was unveiled, sparking discussions on creating alternatives to the US dollar and fostering a more independent economic system. At the BRICS summit in Kazan, Russia, a symbolic BRICS …
The BRICS Pay card demo was recently showcased at the BRICS working groups meeting at the World Trade Center in Moscow, marking a significant step towards creating an alternative payment system. The card, pre-loaded with 500 rubles, is already functional for purchases at select locations within the center. This demo hints at the broader ambitions …
Disney has no park in India now. BENGALURU, Oct 23 (Reuters) – Disney (DIS.N) is nearing a deal to sell its India operations, which it values at around $10 billion, to Reliance Industries (RELI.NS), its biggest rival in the country, rather than sell the business in parts, Bloomberg News reported on Monday. Disney has been …
by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 15th consecutive week above $100 billion! What we are reviewing: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing due to an attempt to offset the initial …
by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 13th consecutive week above $100 billion! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing due to an attempt to offset the initial …
by Dismal-Jellyfish Source: https://www.federalreserve.gov/monetarypolicy/fomcminutes20230726.htm Developments in Financial Markets and Open Market Operations: The manager turned first to a review of developments in financial markets over the intermeeting period. Market participants interpreted data releases as generally demonstrating economic resilience and a further easing of inflation pressures. The market-implied peak for the federal funds rate rose in response …
by Dismal-Jellyfish Source: https://www.sec.gov/news/statement/gensler-statement-credit-ratings-060723 Today, the Commission is considering adopting a set of final rules to remove references to credit ratings from Rules 101 and 102 of Regulation M (Reg M). I am pleased to support these rules because they will fulfill an important mandate issued by Congress in the wake of the 2008 financial …