This is a chart of wholesale prices in Germany. The ECB refuses to hike interest rates and this is reflected in the prices of goods and services. The Euro is already dropping to almost par with the USD. Europe is completely screwed.
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Check out this chart. It's going parabolic. The normies are waking up to the fact that they will own nothing and be happy. Thank you central banksters.
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The Sri Lankan situation is going from bad to worse. This disaster will probably be repeated in many countries, especially in Europe due to the sanctions on Russia. Things are about to get very interesting going forward.
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This is very interesting. The spread between Brent Crude and WTI has been virtually erased. This is probably due to the Russia sanctions and the US exporting their oil to "help" out Europe with the shortage of crude there. Anyone have any other ideas what has caused this spread to disappear?
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Over the past year or so, many people were complaining that there was a used car shortage and that the prices for used cars went through the roof. We might see a reversal in that soon given the record-high delinquencies in subprime car loans and leases.
I suspect there will be some good deals on used cars over the next few months/couple years.
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I suspect there will be some good deals on used cars over the next few months/couple years.
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The sell-off in financial markets has been quite orderly so far this time around. How much lower will stocks have to go before normies start panicking again that the whole financial system might collapse?
The smart one's are already getting their cash out of the bank (as stated in the response) and hopefully converting the fiat into Gold/Silver, Bitcoin, land, and other assets.
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The smart one's are already getting their cash out of the bank (as stated in the response) and hopefully converting the fiat into Gold/Silver, Bitcoin, land, and other assets.
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https://www.bloomberg.com/news/articles/2022-05-19/boe-gold-trades-at-rare-discount-in-sign-of-central-bank-selling
"The Bank of England’s vaults contain 5,676 tons of bullion, one of the largest stockpiles in the world, which it holds on behalf of other central and commercial banks. Gold held by central banks is typically bought and sold between large institutions in bilateral trades at prices usually within a few cents of the market rate."
Does anyone believe that the BOE still has all the gold it claims it has? Perhaps this is the reason for the discount (if this story is true to begin with).
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"The Bank of England’s vaults contain 5,676 tons of bullion, one of the largest stockpiles in the world, which it holds on behalf of other central and commercial banks. Gold held by central banks is typically bought and sold between large institutions in bilateral trades at prices usually within a few cents of the market rate."
Does anyone believe that the BOE still has all the gold it claims it has? Perhaps this is the reason for the discount (if this story is true to begin with).
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Bloomberg.com
BOE Gold Trades at Rare Discount in Sign of Central Bank Selling
Gold stored at the Bank of England has been trading at an unusually low price, in a sign that central banks may be shedding some of their holdings.
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https://wolfstreet.com/2022/05/25/us-natural-gas-futures-spiked-to-highest-since-2008-tripled-in-a-year-why-we-kissed-that-dirt-cheap-natural-gas-goodbye/
"And those dirt-cheap prices of natural gas of 2009 through mid-2021 that consumers, power generators, and industrial companies benefited from, and that bankrupted many oil & gas producers that specialized in fracking for natural gas, and that bankrupted coal miners, is now a thing of the past."
The hits just keep coming.
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"And those dirt-cheap prices of natural gas of 2009 through mid-2021 that consumers, power generators, and industrial companies benefited from, and that bankrupted many oil & gas producers that specialized in fracking for natural gas, and that bankrupted coal miners, is now a thing of the past."
The hits just keep coming.
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Wolf Street
US Natural Gas Futures Spiked to Highest since 2008, Tripled in a Year: Why We Kissed that Dirt-Cheap Natural Gas Goodbye
The boom in natural gas exports creates massive demand on US production and connects US prices to the rest of the world.
https://www.zerohedge.com/personal-finance/oil-spikes-near-post-putin-highs-gasolines-record-highs-ahead-driving-season
"Physical traders - especially in Europe - are paying huge premiums to get low-in-sulfur, low-in-density barrels to replace lost supply from Russia.
That’s also evident in time-spreads. The most immediate oil futures contracts are now at big premiums to those a month later. It’s a sign, with the northern hemisphere driving season at hand, that traders view the market as tight..."
Of course this was bound to happen. The supply from Russia cannot be replaced with oil from different regions because there just isn't enough capacity elsewhere. Are we about to see $150, $200 oil?
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"Physical traders - especially in Europe - are paying huge premiums to get low-in-sulfur, low-in-density barrels to replace lost supply from Russia.
That’s also evident in time-spreads. The most immediate oil futures contracts are now at big premiums to those a month later. It’s a sign, with the northern hemisphere driving season at hand, that traders view the market as tight..."
Of course this was bound to happen. The supply from Russia cannot be replaced with oil from different regions because there just isn't enough capacity elsewhere. Are we about to see $150, $200 oil?
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Zerohedge
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
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https://www.zerohedge.com/markets/yellen-throws-biden-under-bus-runaway-inflation-she-wanted-19-trillion-stimulus-cut-third
"...she herself admitted last week when Yellen told CNN 'Well, look, I think I was wrong then about the path that inflation would take' when she was shown previous remarks she'd made last year where she indicated there would only be a 'small risk' of inflation, and that it would be 'manageable.'"
What a farce! This absolute witch, who continued Helicopter Ben's currency printing into infinity now wants to wash her hands of the inflation monster she helped create. I have to give the cunt some credit for at least admitting that she doesn't know what the hell is going on. How can anyone take anything this granny says seriously?
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"...she herself admitted last week when Yellen told CNN 'Well, look, I think I was wrong then about the path that inflation would take' when she was shown previous remarks she'd made last year where she indicated there would only be a 'small risk' of inflation, and that it would be 'manageable.'"
What a farce! This absolute witch, who continued Helicopter Ben's currency printing into infinity now wants to wash her hands of the inflation monster she helped create. I have to give the cunt some credit for at least admitting that she doesn't know what the hell is going on. How can anyone take anything this granny says seriously?
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ZeroHedge
Yellen Throws Biden Under The Bus On Runaway Inflation: She "Wanted" $1.9 Trillion Stimulus Cut By A Third
If only she hadn't repeatedly claimed the opposite...
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https://www.informationliberation.com/?id=63128
"While Americans and Europeans are being forced to pay record prices for gas as "the cost of standing up for freedom," the free nation of India is buying oil from Russia for a whopping $35 off a barrel and selling it back to us in a hilarious arbitrage scheme...
'What likely happened was Reliance took on a discounted cargo of Russian crude, refined it and then sold the product on the short-term market where it found a U.S. buyer,' said Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air."
Look, the sanctions are working, oil and gasoline prices are rising! What a deal for Western consumers!
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"While Americans and Europeans are being forced to pay record prices for gas as "the cost of standing up for freedom," the free nation of India is buying oil from Russia for a whopping $35 off a barrel and selling it back to us in a hilarious arbitrage scheme...
'What likely happened was Reliance took on a discounted cargo of Russian crude, refined it and then sold the product on the short-term market where it found a U.S. buyer,' said Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air."
Look, the sanctions are working, oil and gasoline prices are rising! What a deal for Western consumers!
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InformationLiberation
Report: India is Buying Up Cheap Sanctioned Russian Oil and Selling it to the U.S. and E.U. at Huge Profits
India is buying up cheap sanctioned Russian oil, refining it, then selling it to the US and EU for huge profits, according to a report in the Wall Street Journal
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Are FED presidents this clueless or do they just gaslight the public because the average person is less intelligent than an average baboon?
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https://www.zerohedge.com/markets/turkish-ppi-hitting-shocking-132-erdogan-targets-short-sellers-hyperinflation-sends-lira
"Meanwhile producer prices rose by a mindblowing 132% - yes PPI exploded more than double from a year ago."
Erdogan will probably order the Turkish central bank to cut rates (CREATE INFLATION) in order to fight "inflation" (what they call rising prices).
Will humans ever put an end to this insanity?
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"Meanwhile producer prices rose by a mindblowing 132% - yes PPI exploded more than double from a year ago."
Erdogan will probably order the Turkish central bank to cut rates (CREATE INFLATION) in order to fight "inflation" (what they call rising prices).
Will humans ever put an end to this insanity?
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ZeroHedge
With Turkish PPI Hitting A Shocking 132%, Erdogan Goes After Short-Sellers As Hyperinflation Craters The Lira
With neither Erdogan nor anyone else inTurkey, willing to make sacrifices and stabilize prices, the currency, or the economy, the lira will be the first modern FX major currency to crater and lose all its value under the unbearable weight of hyperinflation.
https://www.barrons.com/news/ukraine-central-bank-more-than-doubles-key-rate-01654186809
"The National Bank of Ukraine (NBU) raised the rate from 10 to 25 percent per annum -- the highest since 2015."
I wonder what would happen to the US or Canadian economy if the key interest rate was raised to 25%. People can't imagine something like this happening in the west; however, this fiat currency system is at the end of the road and it's possible we will see interest like this in the West in the not-too-distant future.
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"The National Bank of Ukraine (NBU) raised the rate from 10 to 25 percent per annum -- the highest since 2015."
I wonder what would happen to the US or Canadian economy if the key interest rate was raised to 25%. People can't imagine something like this happening in the west; however, this fiat currency system is at the end of the road and it's possible we will see interest like this in the West in the not-too-distant future.
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Barron's
Ukraine Central Bank More Than Doubles Key Rate
Ukraine's central bank on Thursday more than doubled its key interest rate in an unprecedented intervention aimed at propping up the country's economy, which has been clobbered by the Russian invasion.
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https://www.reuters.com/markets/rates-bonds/polish-cbank-raises-main-interest-rate-600-2022-06-08/
"Inflation in Poland was 13.9% in May according to a flash estimate from the statistics office, well above the central bank's target range of 1.5%-3.5%."
Today, Poland raised it's main interest rate by 75 bsp. The central banksters are attempting to get inflation under control but all they will accomplish is the destruction of the economy while inflation will just keep going up as the government is handing out more printed paper to people to "help" with soaring prices. It's a recipe for disaster.
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"Inflation in Poland was 13.9% in May according to a flash estimate from the statistics office, well above the central bank's target range of 1.5%-3.5%."
Today, Poland raised it's main interest rate by 75 bsp. The central banksters are attempting to get inflation under control but all they will accomplish is the destruction of the economy while inflation will just keep going up as the government is handing out more printed paper to people to "help" with soaring prices. It's a recipe for disaster.
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Reuters
Poland raises rates to 14-year high as central bank battles inflation
Poland's central bank hiked its main interest rate to the highest level since 2008 on Wednesday, raising the cost of credit by 75 basis points to 6.00% as it fights levels of inflation unseen in almost a quarter of a century.
https://wolfstreet.com/2022/06/08/housing-bubble-getting-ready-to-pop-mortgage-applications-to-purchase-a-home-drop-to-lockdown-lows-bad-time-to-buy-hits-record-amid-sky-high-prices-spiking-mortgage-rates/
In the US,
"The percentage of people who said that now is a “bad time to buy” a home jumped to 79%, another record-worst in the data going back to 2010, according to Fannie Mae’s National Housing Survey for May. Sentiment has been deteriorating since February 2021"
I wonder how high mortgage rates will have to be for this number to reach 100% 😂.
Housing is in a huge bubble in China, the US, Europe, Canada,...pretty much everywhere. The tide is turning and we will soon experience the beginning of the greatest housing bust in the history of humankind.
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In the US,
"The percentage of people who said that now is a “bad time to buy” a home jumped to 79%, another record-worst in the data going back to 2010, according to Fannie Mae’s National Housing Survey for May. Sentiment has been deteriorating since February 2021"
I wonder how high mortgage rates will have to be for this number to reach 100% 😂.
Housing is in a huge bubble in China, the US, Europe, Canada,...pretty much everywhere. The tide is turning and we will soon experience the beginning of the greatest housing bust in the history of humankind.
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Wolf Street
Housing Bubble Getting Ready to Pop: Mortgage Applications to Purchase a Home Drop to Lockdown Lows, “Bad Time to Buy” Hits Record…
Refinance mortgage applications collapsed to lowest since year 2000.
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https://www.zerohedge.com/personal-finance/us-consumer-prices-reaccelerate-may-highest-1981
"Consumer prices rose by a far larger than expected 1.0% MoM (significantly higher than the +0.3% MoM in April and the +0.7% Exp). That sent the YoY CPI to +8.6% - a new cycle high..."
Things are getting more and more interesting. This will put pressure on the FED to hike rates more than expected. Will they surprise the market and hike by 75 bsp?
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"Consumer prices rose by a far larger than expected 1.0% MoM (significantly higher than the +0.3% MoM in April and the +0.7% Exp). That sent the YoY CPI to +8.6% - a new cycle high..."
Things are getting more and more interesting. This will put pressure on the FED to hike rates more than expected. Will they surprise the market and hike by 75 bsp?
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ZeroHedge
US Consumer Prices Reaccelerate In May, Highest Since 1981
...food and energy costs dominated the headline surge but Services inflation is soaring...
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https://www.zerohedge.com/markets/mood-wall-street-has-never-been-more-apocalyptic
"According to Hartnett, one way to determine the market lows is that everyone will expect the Fed to cut rates, and that's true - in fact, we expect that to happen some time in late August/September when the recession will be plain for all to see."
The rate cuts (probably to BELOW ZERO) might happen even before late August/September. If there is a meltdown in the stock market, the Fed and the rest of the central banks around the world will have NO CHOICE but to cut rates in order to save the system.
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"According to Hartnett, one way to determine the market lows is that everyone will expect the Fed to cut rates, and that's true - in fact, we expect that to happen some time in late August/September when the recession will be plain for all to see."
The rate cuts (probably to BELOW ZERO) might happen even before late August/September. If there is a meltdown in the stock market, the Fed and the rest of the central banks around the world will have NO CHOICE but to cut rates in order to save the system.
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ZeroHedge
The Mood On Wall Street Has Never Been More Apocalyptic
Just when we thought Wall Street sentiment couldn't get any worse, it gets worse.
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https://mises.org/wire/great-crash-2022
"The real driver of the present crisis is monetary inflation...While consumer price inflation is now the most apparent consequence, the real damage occurred in the capital structure of the economy. This is the cause of the present crisis."
The normies are getting restless because they see price rises in all aspects of their lives. What they don't see is how unstable the system has become and how the Western world (and arguable the entire world) is standing on the precipice of complete destruction of our way of life. This crash will be one for the history books.
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"The real driver of the present crisis is monetary inflation...While consumer price inflation is now the most apparent consequence, the real damage occurred in the capital structure of the economy. This is the cause of the present crisis."
The normies are getting restless because they see price rises in all aspects of their lives. What they don't see is how unstable the system has become and how the Western world (and arguable the entire world) is standing on the precipice of complete destruction of our way of life. This crash will be one for the history books.
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Mises Institute
The Great Crash of 2022
Anyone who doubts whether we are in a recession can stop doubting. The Fed's reverse repos show that we're headed for a crash.
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The private central bank fiat currency scam is dependent on CONfidence. The FED must signal that everything is fine so that the populace don't lose the perception that the paper is no more valuable than Monopoly "money". It's just a matter of time (and it won't be long now with all these problems all over the world) before the Federal Reserve Note (otherwise known as the US$) is no longer accepted in trade and is rejected around the world as a reserve asset.
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