Loading ...re China…..i read some where that apparently some military is out and bout, but that they had had to bring them in from afar in Beijing, because the local military were not willing…..
No matter what the worlds second largest economy is not gonna feature and even the scum can’t solve that problem, without looking insane…which has never worried them before…but the likes of Apple have a real problem.
Interesting stuff going on in China. Seems those protests are big enough that the military isn’t doing the usual bloody crackdown?
The other thing in business news here is the railroad worker’s strike. If they actually do strike, our supply chains will be shut in half – at least.
Looks like they’re going to turn $1760 spot into the big brick wall. Despite the USD being down, rates are flat, so we don’t have that tailwind. Still, flat is good if most everything else is down.
Oil cud well have a problem with a slowing world economy….yr yield curve says recession…..’effwits everywhere are in charge and now China cud be out of the picture, due to serious unrest and people just not bothering, if Xi and Co stay on top.
Opec may need to cut again.
So weird being up this early on the east coast.
Looks a lot better for our pm’s than it did a few hours ago.
Tough to find anything up this am except gold inching back above $1760, not big move but steady as the DOW is down a couple hundy, Naz and SPX down 1%. Oil is the kicker, down 3%. USD down .4%
Is it possible the Fed is engineering some deflationary pressures? ZH had an article that said demand for oil is falling. We know they’ve already crushed housing and that will get worse. Problem for them is how they can increase supply to bring prices down as the USD starts to roll over.
Regardless, I’m glad to see pm’s steady as the other markets are weak. Long way to go yet this am though.
A while back I was able to meet two Western reporters, who lived in China and reported on it, they admitted that because the Chinese so happily lie to Westerners, it was nigh on impossible to find out what was going on, especially if they didn’t want to tell you….
That said I think Xi may have been keeping the lockdowns going, to try and hold down the population…as we know the bug has mutated to a baddish cold now….so why are the authorities seen in full hazmet suits, still…….if not to scare the people….who it seems have had enough……
Whatever the case I think we can take China out as any creator of growth for the future, which is going to be SM v bearish and v bullish PM’s, especially if it gets nasty ….which it will.
COVID most definitely is ‘here’…. it’s just that everyone is ignoring it now. China wants “NONE” and so locks down with every new surge they detect. They will fail miserably. I’m not ‘shot’ and have managed not to get the bug by judicious social distancing. But it’s out there.
Micronesia was locked down for 2-1/2 years with borders closed. My friend waited to go back to his other home in Yap. Somehow, the bug got in at a local funeral and spread rapidly, just as the country opened the borders. My friend returned to Yap, caught COVID within hours, and got over it in days. On their island they had 6,500 cases… the whole populace, essentially. And most were vaccinated. Only five deaths attributed to COVID. So now that the bug has run it’s course, everybody has natural immunity and is over the whole pandemic scare thing, and don’t bother to wear masks anymore.
