Wednesday, August 28, 2019
Tuesday, August 27, 2019
US on its way to becoming a net exporter of oil, dominating global oil market and securing the dollar as global reserve currency
Note to Chris Irons: This is not bullish for gold.
The US is about to send a lot more oil into an already oversupplied world market:
“It will be 4 million barrels a day by six or eight months. Four million barrels a day is a lot bigger than the North Sea as a whole. That crude oil is going to go everywhere. It goes to Asia, Europe, to India,” said Edward Morse, Citigroup global head of commodities research. “If the U.S. gets to 6 million barrels a day in three years, it will be hands-down the world benchmark.” ...
“Add on the amount of petroleum products that are exported and add on the amount of natural gas that is exported. The U.S. becomes the biggest hub for energy trading in the world,” said Morse. “It has dramatic implications for the U.S. dollar.”Morse notes there are those who doubt the dollar’s future as the global reserve currency. But in a scenario where the U.S. grows into an energy powerhouse, “the dollar becomes more entrenched.”The U.S. had been the world’s dominant oil producer, prior to World War II. “This will be back to the future for the Gulf Coast,” said Daniel Yergin, IHS Markit Vice Chairman. Yergin said the U.S. would not have had the opportunity to increase production as much, were the law not changed in 2015 to allow for U.S. oil exports.
Biden net favorability in Aug 2019 down 42% since Jan, Beto -41%, Clobber-You-With-A-Binder -40% and Sanders -18%
The fake Indian is now tops among Democrats, the George McGovern for our times.
Chotiner interviews Wax in The New Yorker, but it couldn't possibly be that she was sent to make WASPs look bad just in time for you know what, no, no way
C'mon, it's election season, people, and the narrative-building is well underway.
Sunday, August 25, 2019
Meanwhile in New Hampshire, future president Joe Biden says Vermont is very beautiful
Which I'm sure will really help him in the New Hampshire primary.
Saturday, August 24, 2019
Black Dems in PA admit revulsion for Hillary made them not vote in 2016
More than a dozen African Americans who said they usually vote Democratic - but didn't vote at all in 2016 - blamed unease with Clinton's candidacy. They also expressed support for Biden, frequently citing his past as Obama's vice president as a major positive, and occasionally others. ... Jason Saffore, 43, an African American Democrat working in Philadelphia's Reading Terminal Market, said he couldn't bring himself to vote for Clinton in 2016 and so didn't vote at all. Next year, he said, will be different. "The guy we have in office now is not serving our country and it's time for a change," he said, as he arranged a stack of onions in a crate. "We need a president who is for all Americans. Last time I didn't really care for the Democratic field at all, so I stayed out of the mix. I think a lot of people did."
The growth in retail was a one-off in late 2017, early 2018, and the long term trend remains down
At 1.6% year over year in July 2019, we're still nowhere near the high 2s of last year which actually still disappoint because those failed to match previous more robust growth spurts even under Obama.
The Trump tax cuts went to the wrong folks. Too bad they weren't really his, but his Republican handlers'. Think of them as NeverTrump's revenge: "We'll sandbag this guy with tax cuts which will help our friends but hurt his re-election chances".
The consumer is running on empty and emptier.
I'll tell you exactly what would have happened, Joe
Obama would have been buried, and beer sales would have gone through the roof from all the people celebrating and filling up to piss on his grave, that's what would have happened.
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