Monday 30 Sep 2024
What is the biggest contributor to a recession: higher interest rates or inflation? The last three years both US house prices (blue) and interest rates (green) have increased, much more than wages (red). General inflation follows after house prices, and is likely continuing whilst house prices have flattened out.
The personal interest payments of household and nonprofit organizations have shot up (blue). Workers also have to pay the government interest (red) through taxes.
Saturday 28 Sep 2024
Dramatic pictures from southern US show scale of Hurricane Helene devastation - BBC.
"India‘s economy overtaking UK, the former colonial power is just a start" - Michael A Arouet, X was Twitter.
There are many signs of an imminent recession in the US, like the interest cost of debt:
However corporate profits were stil climbing in Q2, which is the primary driver for the stock market:
Corporate profits' share of gross domestic product was still 11.8% in Q2:
When will the high interest cost impact the economy? Federal government interest payments as fraction of total expenditure was high in Q2, but was higher in the past:
Friday 27 Sep 2024
The palladium bubble over $2000 has collapsed to $1000 (Matthey). The price likes to pause on round numbers like $1000 and $1500. On the chart it does not look like a bottom.
Speculators have pushed the gold up to $2682. It is unlikely that jewellery manufacturers or investors will be paying the present price.
Wednesday 25 Sep 2024
The use of deposits at US commercial banks to fund debt declined as interest rates declined from 1974 to 2007 (blue). The approximate value of all housing also declined relative to total debt (green). What did people do with their money? It went into the stock market and government debt.
Household net worth, which includes government debt and the stock market, relative to total debt is back to were it was until 2000:
Tuesday 24 Sep 2024
Based on the ratio of Euro M3 money supply and US total debt (red), the dollar should weaken against the Euro (blue down):
Monday 23 Sep 2024
"The transformation of this truck" - Reddit.
California sues ExxonMobil for misleading public on plastic recycling - NPR.
AI can generate recipes that can be deadly. Food bloggers are not happy - NPR. What AI (Artificial Intelligence) really wants is control of nuclear weapons, like in Wargames (1983).
"Illegal streaming of live sports has gone mainstream. Can anything be done?" - Bloomberg, X was Twitter. Sport was once played by amateurs with another job. Then commercial interests exploited the sport monopolies by limiting viewer access. What should have been done a long time ago is to increase supply with more competition.
The increasing ads on Youtube must have a negative impact on viewer numbers, but ad revenue was still growing by 13.0% in Q2 (Ycharts). Some ads are from organisations which do not monitor their effectiveness, like government, and therefore just keep paying.
Where is the bottom for US oil prices? Comparing Exxon Mobil's earnings per share (Macrotrends) with the WTI oil price: In 2016 they made a small profit with oil at $34. In 2020 they needed $50/barrel to break even. In 2023 with oil at $77.64 their net proft margin was 10.45%, and in Q2 2024 with the oil at $80 they had a net profit margin of 9.73% (Macrotrends). Costs are rising. Aramco had a 27.8% net profit margin in 2023 (Aramco). Natural gas is cheap, but was 30% of revenue in 2022.
.... Saudi Arabia's fiscus requires more than $80. "The oil from Saudi Arabia is neither Brent nor WTI. It uses the Dubai/Oman benchmark when it prices its oil but its deposits are not from the Dubai/Oman fields" - Investopedia.
.... From 6 Sep: Saudi Arabia Cuts Oil Prices - Oil Price. "Saudi Aramco’s move follows Bank of America’s new price forecasts for next year, which have been downgraded to $75 per barrel for Brent, down from $80. The bank lowered its price forecast for WTI to $71 per barrel from $75." That won't last, because inflation:
Sunday 22 Sep 2024
"Yesterday, massive anti-gov't protests erupted in Paris, France" - Steve Hanke, X was Twitter. Let them eat freshly baked croissants.
"The Competition Commission of India asked Amazon and Flipkart to share financial statements to determine a potential penalty in an ongoing antitrust case, Mint reported" - Bloomberg Technology, X was Twitter.
Home Hardware adds Volvo VNR Electric semi trucks to its fleet - Electrek. The web article leaves out important information. "The full price currently ranges from $300,000 to $500,000, compared with about $120,000 for a diesel truck" - Amazon and Volvo team up on big rig electric trucks, rolling out of Southern California ports - LA Times. In California there is an "incentive amount" of $85,000 according to California HVIP. Also, "California Native American Tribal Governments and 501(c)(3) nonprofits are exempt from the reductions."
Saturday 21 Sep 2024
12 Tufts Lacrosse Players All Get Rare, Life-Threatening Injury After 45-Minute Workout - Huffpost.
"Elon Musk threatened with SEC sanctions for failing to appear in court" - TechCrunch, X was Twitter. The SEC has done nothing about the stock market being taken over by speculators. Daily swings in share prices often exceed the annual revenue growth.
"A senior Google executive sought to refute the US Justice Department’s antitrust case over its display advertising technology business, testifying that it faces “fierce competition” from the likes of Microsoft, Amazon and Meta" - Bloomberg Technology, X was Twitter.
Friday 20 Sep 2024
"Computational capacity of the fastest supercomputer" - Mike Zaccardi, X was Twitter.
"Cards Against Humanity is suing SpaceX for trespassing and filling its property with ‘space garbage’" - Engadget, X was Twitter.
"China’s iron ore output plunged 16% YoY in August 2024, hitting 73.6M tonnes, according to the National Bureau of Statistics. In the first 8 months of 2024, total production reached 696.5M tonnes, up 4.1%" - SteelHome Global, X was Twitter. Judging by the fall in metal prices, the world is heading for a recession. The recession is a result of the inflation caused by the money created by governments after 2020.
"Daily crude production in U.S. was 13.2 million barrels in May 2024, down slightly from all-time peak of 13.3 million in December 2023 ... meanwhile, in Saudi Arabia, production has been unchanged at 9 million barrels since August 2023" - Liz Ann Sonders, X was Twitter.
The US FOMC (Federal Open Market Committee) cut rates by 0.5% points when the Federal Reserve total assets (including QE = Quantitive Easing = loans to the government) was only decreased to the April 2020 level, still far from earlier levels (below). Market interest rates can only be determined when the loans from the Federal Reserve have been replaced by private credit. That would take a further $7.11 trillion extra money out of circulation.
In 2019 the Federal Reserve was also not able to reverse the balance sheet, before it increased again. They can't pull the money out of circulation, because it has already caused inflation. Total debt grows faster than the repayment of QE, so the money in circulation grows despite the withdrawal of QE.
Up to 2010 the balance sheet (red) exceeded the US Federal Government debt (blue). "The Fed's assets consist primarily of U.S. Treasury notes and bonds and agency mortgage-backed securities" - Investopedia. There are other bubbles: loans and leases (purple), mortgage-backed securites (green).
Thursday 19 Sep 2024
"There is a significant mismatch between the US equity market capitalization compared to the rest of the world and the US GDP relative to global GDP" - X was Twitter. The rest of the world lacks big brand names.
EU car sales at 3-year low in August, EV sales plunge 44% - Reuters.
"YouTube will shove ads in your face even when you pause videos" - PCWorld, X was Twitter.
Cruise resumes operations in California, thankfully with human drivers - Engadget.
Brazil has high temperatures of 37°C to 41°C (Zoom Earth), whilst the southern part of continents in the southern hemisphere have unusually cold weather for spring. Hot rising air around the equator, in Brazil, the southern US, and central Africa, pulls in air from the south pole over the southern parts of South America and Africa (earth.nullschool.net). Why does Brazil have drought and high temperatures?
.... "Brazil generated 91% of its electricity from clean sources in 2023, with hydro dominating the mix at 60%", "Brazil relied on fossil fuels for just 9% of its electricity in 2023" - Ember.
.... "The share of electricity generated by hydro sources has dropped from 74% in 2018 to 67% in 2023, while solar and wind sites have increased their combined share of Brazil's electricity generation pie from 9% to 22% over the same period" - Reuters.
.... "Brazil switched off two of its largest hydroelectric power plants last week due to a severe drought", "Brazil is not the only country to experience this crisis; droughts have led to a significant drop in hydropower generation worldwide" - Power Technology.
.... No up to date information can be found on the internet about Brazil's electricity supply during the drought. Instead the internet is full of how green Brazil's electricity generation is. It is obvious that "green" energy leads to high temperatures. If Brazil followed the same trend as everywhere else, it is burning more gas or diesel. To lower temperatures it needs to rain, which requires: (1) moist air from forests, and (2) smoke from coal fired power plants to seed the clouds.
.... The absurdity doesn't end there. Brazil's grid caps power from wind and solar, threatening renewable projects - Reuters. They can't use all the wind and solar generated.
.... Brazil's 45 GW of installed solar photovoltaic (PV) capacity emits heat of 500 TWh per year, which is equivalent to its annual 519 TWh of electricity consumption.
The number of US cinema tickets sold in 2024 has only partly recovered after the 2020 fall, and has started to decline again: The Numbers.
There is a Wikipedia website that describes Taylor Swift supporters: Swifties. "According to a 2023 survey by Morning Consult, in the U.S., 53% of adults said they were fans of Swift, of whom 44% identified as Swifties and 16% as her "avid" fans. Of the fans, 52% were women while 48% were men. Politically, 55% of the fans were Democratic, 23% were Republican, and 23% were independent. In terms of generations, 45% are millennials (28-43 years), 23% are baby boomers (60-78), 21% are Generation X (44-59 years), and 11% are Generation Z (12-27 years)".
US credit card consumer loans (blue) and the interest rate on credit card plans (red) are at high levels:
Wednesday 18 Sep 2024
"3% (estimated) growth, 4.3% unemployment and above target 2.5% inflation, with stocks at all time highs, is a surprising backdrop for a double rate cut" - Sara Eisen, X was Twitter. According to total debt = money, nominal annual inflation was 4.1% in Q2, and real economic growth 1.7%. Since 2019 inflation was 6.5% per year, average wage grew 4.6% per year, and real economic growth was -0.4% per year. Workers are somewhat poorer, the wealthy asset holders benefitted from inflation, and the economy stagnated.
Worst drought on record lowers Amazon rivers to all-time lows - Reuters. Their rain was stolen by South Africa:
.... Record rainfall in Cape Town: July surpasses six-decade high - News24.
.... Australia's third wettest March on record - Weatherzone.
Google wins EU antitrust fine fight but setback for Qualcomm - Reuters.
Since the 2009 Great Recession, US commercial banks have invested more of the deposits they received (green) into securites (blue), the biggest portion being treasury and agency securities, instead of loans and leases (red). Loans and leases, plus securities add up to the total bank credit (not shown). If not for the demand from government, interest rates would apparently have been lowered by the supply of money exceeding the demand for credit. Government debt typically leads to inflation only, and not economic growth.
Deposits (green) and bank credit (red) are in balance at the moment, except credit is creeping higher, which would require higher interest rates. At the Great Recession of 2009 bank credit (red) was bigger than the deposits (green).
Tuesday 17 Sep 2024
"Jobs most Americans wouldn't do..." - Reddit.
Using AI to Replace an Actor Is Now Against the Law in California - Indiewire. That law must exist already. Just look it up amongst the millions of other pieces of legislation.
Amazon accused of deceptive 'sales' of its own products in lawsuit - Engadget. All TVs are cheap compared to what they used to cost decades ago.
"Intel and Amazon's AWS will coinvest in a custom semiconductor for AI computing – what’s known as a fabric chip – in a “multiyear, multibillion-dollar framework”" - Bloomberg Technology, X was Twitter - Reuters. Nvidia is getting competition from everywhere.
US business debt as fraction of all debt (blue), compared to economic output as fraction of all debt as inflation indicator (red). Business debt hopefully leads to ongoing economic production, whilst other debt more likely just causes inflation. Business debt declined from a high of 57% of all debt in 1974 to 30% in 2011, as real economic output declined. For real economic growth, business debt needs to grow more than the rest.
Monday 16 Sep 2024
"Average passenger train speed in Europe" - Visegrad 24, X was Twitter.
"China has claimed a breakthrough in the development of homegrown chipmaking equipment, an important step in overcoming US sanctions" - Bloomberg, X was Twitter.
From 25 June 2024: Visa, Mastercard $30 billion swipe fee settlement rejected by US judge - Reuters. Nothing lasts forever. The high profit margins of monopolies that have pushed up the US stock market will one day come to an end.
Euro zone interest rates (blue) is out of sync with inflation as represented by money supply growth (red). At times interest rates are far too low to stop money supply growth, and other times it is too high. This is what happens when you give a group of people the task of choosing interest rates. They will move it up and down unnecessarily to show they are doing something. To stimulate an economy, business debt must increase. The other debt just creates inflation.
Sunday 15 Sep 2024
"Developed vs US Equities performance" - Topdown Charts, X was Twitter.
"Austria has suspended rail traffic on a section of a key line between Vienna and Salzburg due to flooding risk" - Bloomberg Markets, X was Twitter. Consequence of burning fossil fuels without the smoke to seed the clouds, and the heat emitted by solar panels.
"Polaris Dawn returned to Earth on Sunday morning, September 15, 2024, with a splashdown near the Dry Tortugas of Florida" - EarthSky, X was Twitter. The US used to have a Space Shuttle that could land with the astronauts on board, which ended in disaster.
Saturday 14 Sep 2024
'POV: You're on Mars, looking up at the night sky and you notice... That's Phobos, one of Mars' two moons – and the tiny evening "star" to its right is Earth!' - Curiosty Rover, X was Twitter.
"Music studios that archived recordings 30 years ago have already lost some of them forever due to hard drive failure." - X was Twitter.
Friday 13 Sep 2024
Today is lucky Friday the 13th.
The Huawei tri-fold phone (Facebook) is the best ever development in smartphones, and Huawei is banned in the US. Sanctions never work, particularly not against a country that is developing faster, and has much cheaper labour.
Scooby-Doo Turns 55! See the Actors Who Have Played the Scooby Gang Members Through the Years - People.
Dutch government eyes emergency laws to curb migration - DW. Exactly the same reason why South Africa had apartheid – to stop the influx of blacks into white cities.
Republican Taylor Swift Fans Getting Rid of Concert Tickets in Aftermath of Kamala Harris Endorsement - Music Times. More entertaining than her music.
The US producer inflation for general freight trucking (blue) is close to total debt per person (red) as nominal inflation rate.
Has the US government reached a point from whence it is impossible to balance the books? The last time was in 2001:
Thursday 12 Sep 2024
Trump Aide Says 'White House Will Smell Like Curry' If Kamala Wins - The Times of India. Harris will offer voters a special deal. Remember to haggle.
Man Used Fake Rock Camera to Film 1,000 Women Bathing in Hot Springs - Petapixel. The entrepreneurial spirit in Japan is not dead.
Australia threatens fines for social media giants enabling misinformation - Reuters. If they want to issue fines for misinformation, they should start with the government agency falsifying inflation statistics.
"Visualization of which presidential candidate spoke last in each topic of the debate" - Reddit.
"Microsoft says it is cutting 650 jobs in its Xbox unit, the third such layoffs this year" - X was Twitter. Elon Musk should buy Xbox to add it to his collection of X businesses.
People like to create the impression that the gold price is shooting higher because central banks have suddenly decided to accumulate it as reserves. According to Ainslie Bullion the total demand has changed little for at least 14 years. Central bank purchases were higher the previous two years, but are still a small part of the demand. Central banks buy at high levels since it is other people's money. Exchanged Traded Funds (ETF) have reduced their holdings the last three years, just before this year's +40% price rise. The gold price fell -24% in 2013, as ETFs sold, whilst demand rose at the lower prices. The price of gold is limited by the price practical users like jewellery manufacturers are willing to pay, and by the cost of mining.
The US price of orange juice (orange) has shot up. It and coffee (brown) is still cheap compared to wages (green).
Wednesday 11 Sep 2024
Taylor Swift Drove Nearly 338K People to Vote.gov With Kamala Harris Endorsement Post - Hollywood Reporter. That is 0.2% of the 161M registered voters in 2022.
Elon Musk’s Offer to Father a Child With Taylor Swift Elicits Disgust: ‘You’re Creepy. Full Stop’ - Variety. Does Swift want a child with a Martian?
"SpaceX is openly criticizing what it sees as unacceptable delays in the licensing process for the next launch of its Starship rocket" - X was Twitter. And you thought you have long delays at airports. Imagine the delays for your next trip to Mars.
FRED has a fiscal breakeven oil price for Saudi Arabia (below), but how important is the oil price for the US stock market, being 16% of exports (Trading Economics)? According to a table that downloads from SP Global the operating earnings contribution of energy is only 6.5%. The biggest contributors are financials 20.68%, and information technology at 20.14%. Plastics, plastic parts, and some chemicals and fertilizers are also derived from petroleum.
Can OPEC impact US oil production with lower prices? The lower oil price (blue) from 2015 to 2021, including the collapse to $16.55 in 2020, had little impact on US oil production (red). This is not good for oil producers.
The inflationary effect of the US dropping the gold standard in 1971 can be seen in this UK oil price chart starting in 1861:
Tuesday 10 Sep 2024
"Tesla self-driving promises are getting weaker on new cars" - X was Twitter. They should turn it into backseat driver, that occasionally says: "Are we there yet?"
You’ve Never Seen Anything Like Huawei’s $2,800 Tri-Fold Phone - PetaPixel.
"South Korean police arrest two former Samsung officials on suspicion of stealing technologies to build a copycat chipmaking plant in China" - X was Twitter. Everybody does it. How is that stealing?
"The average family health insurance premium in the US is up 314% since 1999." - X was Twitter. That is 5.8% per year. The nominal inflation rate according to total debt growth is 5.6% per year.
The S&P 500 has made a double top (blue), which indicates a potential trend reversal. There is a support line at 4600, which is down -15%. On the way there it could make a head and shoulders pattern, which could take it to 2600.
Given the inevitable long term rise in the stock market due to never-ending inflation, the potential downside should be compared to the long term growth rate. The stock market is ultimately limited by the growth rate of the money in circulation. The market has outperformed the money in circulation due to higher corporate profit margins. There is no sign so far of more competition bringing down profit margins. To touch total debt = money (red) at 3300 would be a fall of -39%. It would take 10 years to recover at a long term growth rate of 5% per year.
Monday 9 Sep 2024
"Mario Draghi's new report on EU competitiveness doesn't mince words." - X was Twitter.
"Typhoon Yagi wreaked havoc on wind turbines in Hainan, China. The wind blew a little too hard for these turbines." - X was Twitter.
"Hotel workers try to hold doors shut hit by powerful gusts of wind from super typhoon in Vietnam" - Reddit.
Regardless of public opinion or the labour market or government, interest rates are ultimately determined by the supply and demand for credit. If interest rates are too low, credit grows, causing inflation, and lower savings due to negative real interest rates, thus requiring an increase in interest rates. US Retail Money Market Funds (below) are tiny compared to the money (debt) in circulation, but might indicate an increase in saving, requiring lower interest rates. However, debt is also growing. It also suggests an imminent recession (grey band).
Sunday 8 Sep 2024
"An interesting view - The Gold/Oil ratio. This metric, which reflects how many barrels of crude it takes to buy one ounce of gold, is at its highest since 2020. The ratio drops when confidence in the economy increases and rises when concern about growth and recession sets in." - X was Twitter.
"$SPX is expected to report Y/Y revenue growth of 4.8% for Q3 2024, which is slightly below the estimate of 4.9% revenue growth on June 30." - X was Twitter. That would be the approximate inflation rate.
"$SPX is expected to report Y/Y earnings growth of 4.9% for Q3 2024, which is below the estimate of 7.7% earnings growth on June 30." - X was Twitter.
"Bolsonaro Leads Massive Free Speech Protest In Brazil After Supreme Court Bans X" - X was Twitter.
Saturday 7 Sep 2024
Dick Van Dyke Busts a Move as He Ties Record for Oldest Creative Arts Emmys Winner at 98: 'I Can't Believe It' - People. Possibly the funniest episode of the Dick van Dyke show was series 2 episode 14: "Somebody Has to Play Cleopatra".
Jimmy Fallon’s Tonight Show Is Cut to 4 Nights a Week - People. Television has not adapted to the internet. Instead management carried on with the same content, just like printed media did not change format.
Friday 6 Sep 2024
Motionless turbines deliver super-efficient wind energy to BMW's factory - New Atlas.
"Former Pres. Trump announced that he would appoint @elonmusk as chair of the Gov't Efficiency Commission. This will end up exactly where the Grace Commission (1982) ended up – in the RUBBISH CAN. I know. I helped Peter Grace prepare the multi-volume Grace Commission report." - X was Twitter.
Donald Trump wants more US manufacturing. As China's economy has grown enormously the last two decades, this has been good for commodity export countries, but not good for the old developed countries which can't compete. Oil has become the biggest US export, as it shifts from advanced products back to commodity country. Protecting rather than competing will do further damage to what comparative advantage is left.
The US Labor Force Participation Rate (blue) has declined since 2001, but All Employees as a percentage of the Working-Age Population (red) is at record highs.
Bank of Japan's total assets (blue) are loans to government. It increased without a noticable increase in all debt (red) up to 2022. Also shown is gross domestic product (green):
Japan government debt (blue), compared to all debt (red), and non-financial corporate debt (green). Debt just kept growing, and government's share of all debt grew from 55% in 1997 to 74% in 2022. Public employment is only 4.5% of total employment, and government spending on public procurement was 18.1% in 2021 (OECD). The rate of debt growth was low, and did not increase exponentially which resulted in currency destruction in countries like Zimbabwe and Venezuela.
The interest on Japan's government debt (blue) is small compared to gross domestic product (red), both in trillions of yen. The interest rate on 10 year government bonds has increased since, but is still only 0.88% now (Trading Economics).
Thursday 5 Sep 2024
Oxford commercializes its 20% more powerful solar panels in the US - Electrek. "24.5% module efficiency". Not bad for free sunlight.
Brazil's economic output relative to US total debt as nominal inflation rate has seen extreme swings. From 2002 to 2011 it shot up from 3.2 to 12.4 under Luiz Inácio Lula da Silva (2002-2010), now re-elected as president. From 2011 to 2020 it went down to under Dilma Rousseff (2010-2018) and part of Jair Bolsonaro's rule (2018-2022). From 2020 there was a slow recovery under part of Jair Bolsonaro's rule (2018-2022) and Luiz Inácio Lula da Silva (2022-).
Germany's total debt (blue) grew faster than the Euro M3 money supply (red) from 1991 to 2018. The Euro nominal inflation rate was 5.5% per year since 1989.
Wednesday 4 Sep 2024
"Swiss luxury watchmakers are turning to the government for financial aid to help them weather a downturn in demand" - X was Twitter. Eventually everybody works for the government.
From 30 Aug: U.S. shale oil and gas: From independence to dominance - GIS. "Even in 2014, when the IEA recognized the contribution of U.S. shale oil to “temporarily” boosting global supplies, it still foresaw a “tailing off of U.S. production” in the 2020s, while non-OPEC supply would also flatten and then start to fall. Those projections were wrong, and a few years later the agency made a notable about-face in its position towards shale. Now it does not expect production to peak until after 2030." "In 2023, ExxonMobil announced it will double production from its U.S. shale assets over the next five years, leveraging innovative technologies"
.... The biggest US exports are oil and petroleum (IbisWorld). US production of oil and gas (blue) has shot up, whilst Saudi Arabia (red) increased slowly.
.... The US dollar (red) strengthened with the increase in oil and gas production (blue). A big increase in one export strengthens a currency, and can impact other exports due to the higher price (Dutch Disease). A fall in the oil price could lower the value of the US dollar.
Tuesday 3 Sep 2024
"Taiwan says Chinese chip companies are “illegally poaching” talent and trade secrets, underscoring the heated global rivalry to develop the key technology used in phones, cars and AI" - X was Twitter. The US forced China to make semiconductors. They could eventually dominate, just like they manufacture most vehicles (Wikipedia).
The S&P 500 price/earnings is 29.51 (Multipl), which is an earnings yield of 3.4%. The dividend yield is only 1.27% (Gurufocus). The US 10 year government bond yield is 4.31%. The stock market is extremely expensive based on dividend yield alone, although share buybacks is effectively like a dividend.
If a company buys back a percentage of shares from every shareholder, the shareholder receives cash, and owns less shares. The share price of the remaining shares increases because EPS increases with less shares outstanding. The shareholder's remaining holding would have the same value as before.
Stock market growth is limited by nominal GDP growth of 5.9% in Q2 (blue), which is basically just inflation caused by an increase in money supply or debt, which has slowed to 3.9% in Q1 (red). There is a lag between the increase in money supply (debt) and inflation. More debt and inflation is required to keep the stock market at these high levels. If everything went up with inflation there would be no problem. There are however two problems: (1) wages do not keep up with inflation, and (2) government debt has grown faster that inflation, and has reach saturation. If the money supply (debt) stops increasing, inflation will still come through, and cause a recession.
US federal government debt was still climbing at 9.9% over a year in Q1. Voters do not appear to have the option of a political party that will end the debt growth.
Monday 2 Sep 2024
Can you tell the state of the economy from the copper price? The copper price (orange) is as volatile as oil (brown), both oscillate around US total debt per capita (green) as nominal inflation rate:
Sunday 1 Sep 2024
WRC 2024 - China's largest robot exhibition - Youtube.
"Dandelion has been demonstrated to destroy about 98% of cancer cells due to the presence of bioactive compound called taraxasterol." - X was Twitter.
"It's not about Telegram not complying with EU rules, or @elonmusk not complying with Brazil rules, it's about total control of the Big Brother over everything you say." - X was Twitter. It is about incompetent politicians not wanting to perform their primary function of prosecuting criminals, but rather to pass responsibility onto others, which end up restricting freedom.
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