October 16
News
Brent is $109.63. WTI oil prices surged above $101, rising more than 11% this week. Geopolitical developments in Ukraine and the Middle East will continue to dictate markets as global oil supply tightens and inflation metrics trend higher.
On the economic data front, S&P PMIs and key housing data.
Mkts 2Y 10Y 30Y
News
Warsh said nothing about rates at the IMF gathering in Bangkok overnight | Zero
Traders took the silence as a dovish gift, cutting October hike odds to 14% from 26%
Things Have Changed | Kunstler
History is a trickster. Russia is not our mortal enemy anymore. Europe has become something of adversary, if not exactly our enemy, yet. Europe has lost its mind. Now, it is Europe’s turn to destroy itself in pursuit of idiotic theories. All that’s left of Britain’s vast imperial power is a matrix of nefarious financial rackets
Goldman: Warsh’s quieter Fed: why less guidance could mean more market volatility | Forex
Warsh wants markets to stop staring at the Fed and start reading the economy, but after 15 years of hand-holding, the first steps without guidance may be wobbly ones.
Dropping MOAB On Iran? The stupidity of this hurts. | Moon
The U.S. military does not have a bomber that can carry a MOAB. To drop such a bomb a C-130 type transport plane will have to carry it directly over the target and drop it from its loading ramp with the help of a drogue parachute. A slow flying C-130 will hardly make it to the middle of the well defended Iranian airspace. This would be a suicide mission.
America May Need a Wall Along the Canadian Border | Arm
Canada has apparently learned absolutely NOTHING from the immigration disaster under Justin Trudeau. Canada’s economic ambitions could require another 15 million workers over the next decade. Nobody seems particularly concerned about where these millions of people would live, how much infrastructure would cost, or whether the Canadian economy could actually support such an expansion.
Debt Rattle
Trump Begins Highlighting “The Zelenskyy Problem”
Trump Admin Floats Unfreezing Russian Assets In Big Move To Restart Talks
These are not the hard-working economic immigrants of old
The Masks Were Never About Science
Good comedy is generally one part sensationalism, one part truth and one part tragedy. | Zero
Often, the tragedy is in the lack of self awareness of the people being made fun of, and lets just say that modern western women are ripe for such ridicule. No other group in history has enjoyed this level of unfettered privilege and protection. So much protection, in fact, that you're not even allowed to make jokes about their bad behavior.
Israel Will Dump the U.S. and Become ZISIS
The Israeli establishment has correctly understood that the U.S. is a declining power and that there will come a time when it cannot depend on it. The proposed solution is essentially to become ZISIS (Zionist State of Israel). \\ It is difficult to see Israel surviving without U.S. support, but Israel is quietly building an escape route. It is strengthening military and technological ties directly with the U.S. armed forces and defense corporations, thereby bypassing public scrutiny.
Is Katie Zacharia a Lawyer? | Insta
She has a law degree but didn’t take the bar and never practiced law, so no. But so what? Law degrees are generally useful — now that a liberal arts BA is worth about what a high school diploma used to be, they’re the closest thing to a liberal arts degree at the graduate level.
Had A Fascinating Talk With My Artificial Intelligence (AI) This Morning
My questions to ChatGPT, which I find extremely useful as a background research source, are in red, while the AI responses are in blue.
Cleveland Fed CPI Forecasts for October
Headline: 0.27 m/m and 3.77% y/y
Core: 0.21 m/m and 2.48% y/y
AAA gasoline drops 4ct to $4.327 from $4.367 a month ago
C’est la lutte finale
This is the final struggle
The Internationale" is an international anthem that has been adopted as the anthem of various anarchist, communist, socialist, and social democratic movements.
Cuffing season refers to the time of year when single individuals seek short-term romantic partners to share the colder months. This phenomenon typically occurs from October through March, culminating around Valentine's Day. The term "cuffing" suggests a desire to "attach" oneself to another person, similar to being handcuffed.
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