September 23, 2022
Without price stability, the economy doesn’t work for anyone.
– Fed Chairman Jerome Powell
THOUGHTS FROM DOUG
Pakistan now wants the world to pay for its latest flood. Climate change is the new scapegoat. The developed world is now financially responsible for any emerging market weather event.
Just in case you missed the hot news about ants: They’ll probably survive climate change.
To really understand climate change, maybe the best science to study is behavioral science. Pay particular attention to mass psychosis.
In addition to so much else, we also have inflation in the cost of capital. Argh…
Now that Germany has nationalized a large gas importer, I’m wondering how long before the EU nationalizes most of their energy industry.
How easy will it be for Europe to execute a complete realignment of all their hydrocarbon-produced energy? Hydrocarbons represent 68.4% of European energy generation.
Russia will not likely be allowed back into the “nice guys” economy anytime soon. Europe and the US seem to stick a pin in China’s eye regularly. We seem to have lost collaborative and cooperative globalization. Today’s poor economic coordination and cooperation should be naturally inflationary. The just-in-time deflationary global economy seems long gone now.
I’m not sure the economic aftershocks of Russia invading Ukraine are well understood.
The US Preventative Service Task Force thinks all adults under the age of 65 should be regularly screened for mental health. Their focus is on anxiety. So what if someone has anxiety dealing with a government agency? Ever get pulled over for speeding?
How does increasing US interest rates fix supply chain challenges caused by the Ukraine war?
Back when Fed Chairman Paul Volcker tackled inflation in the 1970s, stocks bottomed out at a P/E of 8. Today, the P/E of stocks is about 16. Just sayin’.
THE ECONOMIC VIEW
THE INFLATION BOGEYMAN
Butter prices are soaring
Great, is margarine coming back?
FedEx raises rates 6.9%
Here comes service inflation.
Rents may have peaked
After an 18-month explosion.
THE LABOR VIEW
People are returning to the office
But only around 50% so far.
Jobless rate is starting to rise
New England leads “the charge.”
MEANWHILE IN EUROPE
THE NEW ENERGY TRANSITION
UK lifts ban on fracking
Time to drill baby drill.
EU will move away from wood energy
Why are they burning wood for energy?!?
PLAYING WITH FIRE
Russians are protesting
After Putin’s new soldier call-up.
“How to leave Russia”
Google searches are soaring.
Japan has a yen problem
Requires first intervention in 24 years.
The world’s largest exporters
A time series video.
North Korea approves preemptive nuke strikes
Does this ant have a big stinger?
A NEW WORLD ORDER?
NATO member joins China-led SCO
Can Turkey play both sides?
Mexico pledges to work with US
On semiconductors and EVs.
China is rolling over EM loans
Hoping the IMF comes to their rescue.
THE FINANCE WORLD
Jamie Dimon not happy with capital rules
Thinks they’re holding banks back.
Higher bond yields
Are not good for stocks.
Cash flow problems are showing up
At some big PE firms.
Luxury home market deflates
It’s like crickets for buyers.
All those empty office buildings
May be turned into apartments
E-commerce warehouses spring a leak
Is this an overbuilt market?
The internet may be great
But it gives the state massive power
Silicon Valley’s golden age
Is it over?
The US warns Apple
Do not use Chinese chips.
THE CRYPTO MEME
Is Kraken crackin’?
Another crypto platform wobbles.
Crypto data center goes bust
Leaving $500MM in unpaid debt.
THE NEXT NORMAL
Tattooed employees are good for you
This research says so.
La Niña is behind this year’s weather
And will be behind next year’s, too.
Not everything in the US is contracting.
STDs are on the rise, says the CDC
THE WAR ON CARBON
The Great Leap Backward
The West mimics Mao Zedong.
Rare eagles are flying into wind turbines
Germany wants to use AI to save them.
There’s some bad news
About LED lights.
THE EV DREAM
Charging EVs at night is not good
Concludes Stanford research.
THE CHINA SYNDROME
Chinese scientists are leaving the US
Were they also spies?
The countries that trade with Taiwan
Future allies in a war?
Crypto regulation may be coming
White House has framed it up.
Student loan forgiveness
Is about to face legal challenges
Washington wants more chip plants
Wall Street says maybe not.
MAKING A BETTER YOU
Taming the mammoth
Stop caring what others think.
Want to reduce your blood pressure?
Just breathe deeply for 5 minutes a day.
HOW ABOUT A BREAK
Is there life on another planet?
Today’s tech tools may tell us.
Homo sapiens and Neanderthals
The mutation that made us different
SONG OF THE WEEK
For sustained concentration.
VIDEOS OF THE WEEK
Here comes The Fablemans
By Steven Spielberg, about Steven Spielberg.
How the Titanic sank
James Cameron directs a CGI enactment.
The very first transit map
Was made by the Romans.
CASTING AROUND THE PODS
“Better Decisions, Fewer Mistakes”
Shane Parrish interviews LinkedIn co-founder Reid Hoffman.
FROM THE HEADHUNTER’S KITCHEN
The Michelin Guide’s top food cities
Tokyo beats Paris, hands down. Whoa!
The Bacon Bible
Where bacon is worshiped!
IN CASE YOU MISSED IT
China Preparing to Go It Alone
September 16, 2022
Democracy Is Now in Decline
September 9, 2022
Just a sample text from heading element.