When I worked at AIG, I did a good deal of business in Sweden with both banks and corporates.  In 1991, I was even part of a team that tried to provide capital relief to the Swedish banking system.  To no one’s surprise, the banks declined our offer, preferring what our Stockholm rep described as a more “typically Swedish solution.“

What that solution was I never found out, but what I did discover was the Swedish propensity for going it alone in a crisis.

And that’s exactly what Sweden has done with COVID, electing to keep both its economy and society as open as possible while letting the virus “burn itself out.”

Here’s how that’s gone to date:

The chart below doesn’t list the countries that have done better than Sweden but those that haven’t are both numerous and notable.  Sweden’s rank in deaths per 100K is currently 40th.

There have been two Swedish mortality spikes since the pandemic started, the second less severe than the first. Current mortality rates are at baseline level.

No country has been more aggressive in its use of masks, lockdowns and vaccines as a way of mitigating the virus’s effects than Israel. It’s, in effect, Sweden’s polar opposite. How do the two countries currently stand vis a vis their respective approaches to the virus?

Surprisingly, Sweden is now reporting only 90 cases per million vs. Israel’s 1,218.

And in terms of its two closest neighbors, Sweden’s new caseload is on par with Finland’s while only half as much as Norway’s.

At the same time, mortality rates for all three countries are comparable.

And, finally, Sweden’s death toll over the last 15 months is almost identical to Germany’s except that it’s slightly LOWER.

The question is, given these DATA POINTS, is Sweden any worse off for having taken the approach it has? To be fair, Swedish authorities are trying to increase the number of fully vaccinated Swedes as the current percentage is low by first-world standards. And Swedes seem willing to comply.

But will it make a difference? While I’M ALL IN FAVOR OF MASKS, VACCINES, VACCINE PASSPORTS FOR TRAVEL, PROOF OF VACCINATION FOR INDOOR DINING AND, IF NECESSARY, LOCKDOWNS, how effective will they prove to have been once we complete the “after-action” on this virus, assuming we ever control it?

Are the measures we’ve taken as effective as we’d like to believe, or are they merely totemic — and would-be prophylactic — and meant to reassure us in ways that aren’t possible? In other words, is this virus something we can materially control, or does it rise and fall on waves we can’t tame?

Since the “typically Swedish solution” looks to have been at least as successful as more proactive approaches taken elsewhere, the truth may lie somewhere in between. One thing is certain. A new wave is coming, regardless. We’ll see which countries it threatens the most.

Now with Hong Kong secured, Taiwan is China’s next objective.

“On Wednesday, Taiwanese Foreign Minister Joseph Wu told an online forum on US-Taiwan relations that Taiwan is a ‘sea fortress’ blocking Chinese expansion in the region.”

Let’s give the FM an A+ for succinctness on that one.

“Wu’s comments come as Taiwan is holding military exercises simulating a Chinese invasion. The drills are simulating an attack that took out Taiwan’s airfields, so fighter jets are practicing landing on stretches of highway.“

Practicing landing on “stretches of highway?”

It sounds like THINGS COULD GET UGLY.

In 2000, global trade was still LARGELY US-centric.  But 20 years later, China has “flipped the field.”

I’m sure glad I ENJOYED THE 90’s, during which I experienced not only the prime of life but also the peak of my business career.  I doubt that this country will see anything like that decade for a LONG, LONG TIME

IF AT ALL.

Since 9/11, the Pentagon has paid defense contractors around $4.4 trillion.

Here are the world’s largest:

Remember, war is a BIG CHUNK of their revenue. NO WAR, LESS REVENUE. And since they’re PUBLICLY TRADED, they, like other listed companies, MUST make their QUARTERLY NUMBERS.

Yep, WAR IS BIG BUSINESS.

And that’s just how it is.

The Green folks want to outlaw carbon, but we don’t yet have enough green.  Nor will we for a VERY LONG TIME.

IF THEN.

In the meantime, oil producers must still take into account environmental considerations which is SLOWING DOWN PRODUCTION.

As per Bloomberg:

“Because of climate change policies, Chevron has to examine each project’s carbon emissions. ‘It’s become a big part of our decision-making process.’  As shown below, the company has halved its long-term capital spending implying new high carbon projects will be limited and may result in years of diminishing output, thus helping to create supply tightness.”

Bottom line, it’s almost certain there will be less oil, NOT ENOUGH GREEN and HIGHER ENERGY PRICES which, in turn, will feed into HIGHER INFLATION.

This is what happens when “VIRTUOUS” decision making supplants GOOD SENSE.

We’ve dodging it for years, so is it truly here?

We’ll see.

Energy

Food

2019 Household Expenditure on Food and Energy

CPI: 1980 — 2021

Now, put on your conehead hat and see what pops into your brain!

. . .  While Producing Nothing.

From Charles Hugh Smith.

The Illusion of Getting Rich While Producing Nothing

Some highlights:

• “Of all the mass delusions running rampant in the culture, none is more spectacularly delusional than the conviction that we can all get fabulously rich from speculation while producing nothing.”
• “Lost in the mania of easy wealth from speculative trading is the absence of any value creation in the rotation-churn of moving bets from one table to the latest hot game.”
• “The fantasy powering the speculative frenzy is once I get rich, I’ll stop working and live off my wealth.”
• “This is how you hollow out a nation and guarantee collapse.”
• “Speculative “wealth” is phantom wealth, a flickering illusion of prosperity.”
• “By incentivizing speculation and corruption, reducing the rewards for productive work and sucking wages dry with inflation, America has greased the skids to collapse.” 

This started around 1980 with what G.H.W. Bush later called “voodoo” economics. Bush always knew that Reagan was a phony.

Bush himself — like him or not — was Yale, Skull & Bones, US fighter pilot who survived being shot down over the Pacific, US Congressman, National Republican Party Chairman, Ambassador to China, Ambassador to the UN, CIA Director, Vice-President and President.

Yes, he touched ALL the bases.

And Reagan?

A B-List actor married to a woman who consulted with an astrologer on matters of foreign policy.

Now, it’s MAGICAL THINKING a go-go.

For you job and career seekers, make sure you’re above the line.

What’s DARK ENERGY?

A Jordan Peterson concept?  The hidden root of malevolence?

Not at all.

“Everything our eyes can see in the skies and in our everyday world – from tiny moons to massive galaxies, from ants to blue whales – makes up less than five percent of the universe. The rest is dark. About 27% is dark matter – the invisible force holding galaxies and the cosmic web together – while 68% is dark energy, which causes the universe to expand at an accelerated rate.”

Hmm, a correlative to our own UNCONSCIOUS?  Is God hiding there?  Or the FIFTH FORCE?  Maybe not the FOURTH TURNING as that appears to be here.  Or so some say.

Anyway, check this out because, after all, the more we find out, the less we know.

Have We Detected Dark Energy?

Still no sign of Tipperary, but at least another milestone.

“Microbes that live in hot springs and hydrothermal vents have long fascinated scientists for their ability to survive at temperatures exceeding 100°C. Now, these ‘extremophiles’ are piquing interest for another reason: They may hold a clue to longevity in much more complex creatures, including people.

“A genetic mutation that keeps the proteinmaking machinery of these tiny organisms from making mistakes can extend life span in flies, worms, and yeast engineered to have the same DNA change, researchers have found. The discovery suggests errors in protein synthesis may be an important driver of aging—and a target for future drugs that promote healthier aging.”

So, does this mean that if one could somehow become a single cell, one might live for a very long time?  If so, might it also mean that the REAL ROAD to TIPPERARY is the VIA REINCARNAZIONE, and that we’re on that road singing, after all?  And that time begins VERY SLOWLY — yet with enviable longevity — as a mutated cell?

Hey, just kidding!

But in a world so LARGELY UNCONSCIOUS how much can we actually know!