. . . for NOW.
Because THIS FED could start BUYING STOCKS tomorrow should it change its mind and decide that a CONTROLLED CRASH of the economy is neither desirable or possible.
But THEN, we get to DIE BY INFLATION.
PICK YOUR POISON.
In the meantime, here are some graphs on HOUSING:
No place for cryptocurrencies.
I’m talking to YOU, El Salvador.
. . . where NYC at 100 Is the Baseline
Comparing the Cost of Living Around the World
In the piece’s graphed index, all locales plotted ABOVE 100 on the y axis have HIGHER costs of living than NYC while all locales plotted BELOW 100 have LOWER costs.
Similarly, all locales TO THE RIGHT OF NYC on the x axis provide GREATER purchasing power, while those TO THE LEFT OF NYC provide LOWER.
Of the two, PURCHASING POWER is THE CRITICAL METRIC as it represents the NET of what you EARN minus what you SPEND.
So, if you live in Jersey City where many residents work in Manhattan and make Manhattan salaries but then face only New Jersey-level costs of living, you’re on average — ON A PURCHASING POWER BASIS — better off than someone who works AND lives in Manhattan.
Of the 578 cities reported on in the piece, the following have the HIGHEST COST OF LIVING:
And here are the US cities with the GREATEST PURCHASING POWER. And — BINGO! — there’s JERSEY CITY.
As you can see, only precious metals are a) CONSUMABLE/TRANSFORMATIVE and b) a STORE OF VALUE . . . without at the same time being INHERENTLY speculative.
With PM’s, the VALUE ENDURES. You can buy the same suit of clothes today for an ounce of gold as you could have bought in ANCIENT ROME.
To me, that’s HUGELY REASSURING.
. . . Well . . . THE UK!
“Bloomberg reports French utility Electricite de France SA (EDF) was forced to reduce power generation at three power plants this week, two on the Rhone River and another on the Garonne, after water temperatures from each respective river were too hot to circulate through condensers and discharge back into waterways because superheated water would cause environmental harm.”
YES, IT’S TIME TO PAY ATTENTION TO ENERGY.
Correct. This kind of heat FREAKS OUT THE BRITS.
From The Epoch Times:
. . . Meant to Disable Western Spy-Satellites
From ZH:
“The Space Review published a new report indicating ‘strong evidence that a space surveillance complex in Russia’s northern Caucasus is being outfitted with a new laser system called Kalina that will target optical systems of foreign imaging satellites flying over Russian territory.'”
Behold the ray-gun in question:
And here’s the ENTIRE SYSTEM:
“News of Russia’s next-gen laser weapon comes as Space X CEO Elon Musk has said his company could launch more satellites than Western adversaries can shoot down. It seems like the Kalina project could soon challenge Musk’s satellite constellation via low-cost beams of light rather than costly missiles, making it cheaper and easier for Moscow to take down more satellites.“
YOUR MOVE, ELON.
Based on DEMOGRAPHICS, it’s difficult to see China not surpassing the US in less than a decade.
Top dogs:
Small fry:
What’s next? Another CULTURAL REVOLUTION?
From ZH:
“On Friday, shares of China’s banks extended their slide to a two-year low amid fears widespread mortgage non-payments would spark contagion within the banking sector (see “China On Verge Of Violent Debt Jubilee As “Disgruntled” Homebuyers Refuse To Pay Their Mortgages“) even after the local banking and insurance regulator said it will maintain continuity and stability of financing policies for the real estate sector.
IF PEOPLE DON’T PAY THEIR MORTGAGES, WHAT DO YOU DO, FORECLOSE ON MUCH OF CHNA? LOCK THEM ALL UP WITH THE UIGHURS?
STAY TUNED TO THIS ONE.
SEE HOW ENERGY AFFECTS GEOPOLITICS? WHEN PUSH COMES TO SHOVE, IT’S THE ONE THING THAT MATTERS.
From ZH:
“Rumors swirl as China could reverse its unofficial ban on imports of Australian coal due to mounting supply uncertainty over the future loss of Russian energy supplies when Western-led sanctions are enacted.”
Whereas just recently . . .
“Beijing shunned coal imports from Australia in late 2020 over Canberra’s banning of Huawei Technologies Co. equipment in 5G networks. The situation worsened when former PM Scott Morrison requested an independent probe into the origins of the COVID-19 — deeply angering Beijing.”
And let’s not forget CHINA’s IRE over the trilateral security pact between Australia, the UK and the US in September 2021 by which the US and UK agreed to help Australia acquire nuclear-powered submarines.
YET, SUDDENLY, ALL OF THAT COULD CONCEIVABLY NOT MATTER LESS GIVEN CHINA’S VORACIUS COAL APPETITE AND THE WEST’S DETERMINATION TO CRIPPLE RUSSIA AS AN ENERGY SUPPLIER.
Tudor Place 