Volkswagen among others is warning that the energy crisis is grinding industry to a halt. The US benefits from the proxy war in Ukraine as a catalyst to onshore industry. Thus the US, has little interest in facilitating any type of resolution until factories and commitments from fleeing EU companies are signed and underway.
Update on the market’s largest cap stock – AAPL, with a $2.4 trillion valuation, trading at a historically high 25 P/E multiple, which had run up 16 points in past 2 weeks (12.2%). As I said in series tweets Wed. (see thread), this is an epic disaster. https://t.co/66Vfb4r0fs
— fred hickey (@htsfhickey) November 25, 2022
By Dec 14 Europe is forecast to sink in a deep freeze. As the Arctic is still in its accumulation phase of collecting cold air, January can be expected to be much, much colder.
Northern Hemisphere snow cover is currently well above the mean signaling harsh conditions in both Europe and North America.
Hard to grow oil production when there is almost no labor left in the industry.
“The kingdom, the biggest producer in the Organization of Petroleum Exporting Countries, has slashed exports as it implements an OPEC+ deal to balance global crude markets.”
— ??????? (@AlessioUrban) December 1, 2022
Curiously right as there are signs that immune compromised individuals has increased we learn that “shortages” of key antibiotics has developed. What a perfect storm for a die off.
Health authorities are warning that RSV, the flu and COVID are combining to create a “tripledemic”, and there are simply not enough medications to go around. What a coinkydink.
Very Serious Shortages Of Amoxicillin, Augmentin, Tamiflu, Albuterol, & Tylenol Have Erupted All Over The US https://t.co/Xvr5e9Gu9m
— zerohedge (@zerohedge) November 28, 2022
As older low interest securities roll off and are financed at higher rates the net interest paid by the Treasury is spiking. This early parabolic move will continue with a vengeance.
Who will buy these Old Maid Cards? Will the higher rates attract enough interest?
The Fed is less of a factor in this market. Total holdings dropped to $8.58 trillion, according to the Fed’s weekly balance sheet. This was down by $344 billion from the peak on April 13, 2022 when QT kicked in.
NEW YORK (Reuters) – Foreign holdings of Treasuries in September dropped to their lowest level since May 2021, data from the U.S. Treasury Department showed on Wednesday, led by Japan and China whose currencies have struggled all year against a resurgent dollar.
Offshore holdings dropped to $7.296 trillion, from $7.509 trillion in August. Foreign holdings in May last year were at $7.144 trillion.
Japan’s stash of Treasuries dropped to $1.120 trillion in September, from $1.199 trillion the previous month. Japan, which remains the largest non-U.S. holder of U.S. government debt, reduced its load of Treasuries for a third straight month.
For those following the supply/demand issues in the US Treasury market, keep in mind that the $2.9 trillion Social Security Trust is just now becoming a structural net seller of Treasuries for the foreseeable future, too. 70 million will receive an 8.7% benefit increase in 2023 adding to further fund depletion.
Anyway, good morning. pic.twitter.com/usLyPy8IoI
— Lyn Alden (@LynAldenContact) November 18, 2022
Complete societal breakdown.
? BREAKING ?
TARGET SAYS IT HAS LOST OVER $400 MILLION DOLLARS SO FAR THIS YEAR DUE TO AN INCREASE IN SHOPLIFTING AND ‘ORGANIZED RETAIL CRIME’ $TGT
— GURGAVIN (@gurgavin) November 16, 2022