I WAS BLOCKED BY A NOBEL PRICE.

When I gently noted that Real Income matters more than Nominal Wage Increase for those workers whose typical basket of goods and services suffers positive price shocks higher than average CPI index.

Two years on...
ft.com/content/4bba19…

Gold.

In line with Feline Master KKGB Kitty storyline and more humbly with mine too via a different detour.

Needless to mention mr. The Long View is a must-follow.

Fact is that subsidizing structurally loss-making businesses to reshore activities we (the West) have deliberately deferred to autocracies/dictatorships/free-market mocking geographies comes at a huge cost no one can afford to pay without having the house of cars falling.

Breaking News: The WH released rules designed to speed up clean energy permits while requiring agencies to weigh climate impact of new projects.
Priority for those w/ strong environmental benefits; added layers of review for those that could harm climate, surrounding communities.

Very timely, as usual.

naturaljustice.org/wp-content/upl…

Nihil Novi Sub Sole

Trivia:

This is happening at a time when RBOB TTM premium is flying high vs HO's (scroll my timeline for relevant tweets).

Worth watching...

Big_Orrin

Well, it also wants to ensure that contrary to objective realities, the West goes ON buying inane EVs, Solar panels etc. So while locals subsidies in #China are an issue, it is nothing compared to lobbying (and possibly worse) to ensure that we do NOT do a cost/benefit analyis

Scrivete 'Giorgia'.

'Battaglia sul nome' italiana (da Elly a Carlo a Giorgia) é svilente, grottesca, ma é misura della realtà: elettori votano specchietto per allodole, sapendo di farlo.
Impalpabilità totale, trasversale di visione di crescita.
Sempre e solo piccolo cabotaggio.

Whenever you read headlines about G7 phasing out coal and other such empty gibberish, take a sobering look at actual data below and try again.

reuters.com/business/energ…

👀

Il 2023 sarà l'anno dei BOND/2023 will be the YEAR of the BONDS

EU GVT BOND ETF in arancione ↓ / EU GVT BONDS ETF orange ↓

EA Commercial Banks @ €3.8tn in Excess Reserves ↓from €4.9tn at the peak of NIRP folly but good €3tn > pre-GFC levels.
Thowback to heydays when we were lectured NIRP would've spurred deluge of Bank Lending to Real Economy via <0% 'penalty Rate'.
Sir Of Finance
JohannesBorgen

👀
finance.yahoo.com/news/next-us-l…
BBG: Next US LNG Export Plant Aims to Begin Production in Mid-2024
VG LNG requested approval to receive an LNG shipment to cool down its equipment as part of its start-up process at the Plaquemines LNG facility, a key step before LNG exports can begin.

** HTM is NOT magic wand capable of turning coal into gold **
1. certain EU Insurers (nearly) went bankrupt (spoiler: IT EUROVITA) as their HTM portfolio soured on soaring yields
2. SVB actually failed
3. Yet Private Markets still believe HTM does work.
h/t @amuse JohannesBorgen

WSJ - Despite overcapacity, China keeps making more cars than it needs on.wsj.com/3xSfW14

#theColony , episode 2,996

'CME Futures leverage (alone) is more than enough to fu(n)ck up'.

Your Truly knows.

Timeless wisdom by Citrini below.

I flagged the odd behaviour (i.e. lack of bullish follow-through) of USD after the slate of inflation bullish surprises this week in the US.

JPY is indeed a big factor supporting USD in its weakening path as BOJ (or MOF, to say better) lurk behind.