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zugzwang

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  1. Most of which are still in play i.e supply side constraints, war in the Ukraine + ME, soaring global demand. WTI: +2.20% Brent: +1.57% https://oilprice.com/Energy/Energy-General/Why-Morgan-Stanley-Says-to-Buy-Energy-Stocks-Right-Now.html Commodity analysts at Standard Chartered have noted that energy markets kicked off the new year with an overly pessimistic view of oil demand, and sees an oil price rally unfolding in the coming months. StanChart estimates that January oil demand clocked in at 100.24 million barrels per day (mb/d), good for a 2.67 mb/d year-over-year increase and 0.25 mb/d higher than StanChart’s latest forecast. StanChart has now revised its earlier 2024 demand growth forecast to 1.69 mb/d from 1.64 mb/d previously. The analysts have also predicted a sustained period of inventory draws in H1-2024, with the cumulative draw coming in at 185 mb compared with a H1-2023 build of 230 mb. StanChart has predicted that global demand will hit a new all-time high of 103.01 mb/d in May, with June setting a new record at 103.62 mb/d while August demand is expected to be even higher at 104.31 mb/d. StanChart says tightening oil markets will continue to power the oil price rally and has predicted Brent to average $94/bbl in Q2-2024. Supply growth is likely to remain constrained, with StanChart predicting that U.S. crude supply will not grow significantly higher than November 2023’s all-time high of 13.319 mb/d. Meanwhile, Russia is intent on keeping supply tight in a bid to support higher prices. A few days ago, Moscow ordered oil companies to lower their output in the second quarter so that the country can meet its OPEC+ production target of 9 million barrels per day (bpd). Private sources have told Reuters that Moscow has given specific targets to each oil company, an indication of Moscow’s commitment to keep its OPEC+ pledge. Russian oil and gas condensate production has declined to 10.8 million currently from an annual peak of 11.7 million bpd in 2019 due to production cuts.
  2. Build Your Dreams. 👇 BYD's Electric Dream: Reportedly Doubling Down On International Sales To Outpace Tesla And Dominate Global EV Race https://www.msn.com/en-us/money/news/byds-electric-dream-reportedly-doubling-down-on-international-sales-to-outpace-tesla-and-dominate-global-ev-race/ar-BB1kDSt7 The Roaring Twenties? Blow for Sunak as revised figures confirm UK did go into recession last year Latest estimate from ONS says GDP declined by 0.3% in final quarter of 2023 Official figures have confirmed the UK economy went into recession at the end of last year, after the latest estimate found it had contracted in the last two quarters of 2023. In a blow to the government’s economic standing, the Office for National Statistics (ONS) said the economy, measured by gross domestic product (GDP) shrank by 0.3% in the last three months of the year, unrevised from an earlier estimate. It followed contraction of 0.1% in the third quarter of 2023, confirming a technical recession – two consecutive quarters of negative growth.
  3. It's genocide. Draft UN Report Finds Israel Has Met Threshold for Genocide Posted on March 26, 2024 by Yves Smith Yves here. Note the UN body that is set to release this report is not the International Court of Justice, which is not expected to rule on South Africa’s genocide filing any time soon, but the UN Human Rights Council. However, this report will serve as important evidence in that case. And in combination with the long-overdue UN resolution calling for an immediate ceasefire, this should increase Israel’s isolation. Israel is relying on the notion that it can ride out the slaughter because it has US backing. But as we have described, the conflict is already imposing large costs on Israel’s economy. These developments if nothing else will put more pressure on companies and countries not to do business with Israel. Sadly, the Israel leadership and most of its population is high on blood lust and overweening sense of entitlement. And there’s no ready way to get them to sober up. The only wild card I can see somewhat slowing the murderous conduct is Biden dying in office. Harris would correctly be seen as weak and not able to protect Israel’s back as well as Biden. By Brett Wilkins, staff writer at Common Dreams. Originally published at Common Dreams The United Nations Human Rights Council on Monday published a draft report that found “reasonable grounds to believe” that Israel is committing genocide in Gaza, a move that came on the same day as the U.N. Security Council passed a resolution demanding an immediate cease-fire in the ongoing war. The advance unedited version of the report—entitled Anatomy of a Genocide—concludes that Israel’s far-right government and military “have intentionally distorted jus in bello principles, subverting their protective functions, in an attempt to legitimize genocidal violence against the Palestinian people.” “The overwhelming nature and scale of Israel’s assault on Gaza and the destructive conditions of life it has inflicted reveal an intent to physically destroy Palestinians as a group,” the draft report states, enumerating Israeli actions that violate Article II of the Convention on the Prevention and Punishment of the Crime of Genocide: “Killing members of the group; causing serious bodily or mental harm to group members; and deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or in part.” “Israel has de facto treated an entire protected group and its life-sustaining infrastructure as ‘terrorist’ or ‘terrorist-supporting,’ thus transforming everything and everyone into either a target or collateral damage, hence killable or destroyable,” the paper continues. “In this way, no Palestinian in Gaza is safe by definition. This has had devastating, intentional effects, costing the lives of tens of thousands of Palestinians, destroying the fabric of life in Gaza, and causing irreparable harm to its entire population.” ... According to Palestinian and international humanitarian officials, Israel’s 171-day Gaza onslaught has killed at least 32,333 Palestinians, most of them women and children, while wounding nearly 75,000 others and displacing around 90% of Gaza’s 2.3 million people. Thousands more Palestinians are missing and believed to be dead and buried beneath the rubble of bombed buildings. Disease and deadly starvation caused and exacerbated by Israel’s siege and blockade of Gaza are spreading rapidly. “Israel’s genocide on the Palestinians in Gaza is an escalatory stage of a long-standing settler-colonial process of erasure,” the draft report asserts. “For over seven decades this process has suffocated the Palestinian people as a group—demographically, culturally, economically, and politically—seeking to displace it and expropriate and control its land and resources.” Referring to the flight and ethnic cleansing of more than 750,000 Arabs from Palestine during the foundation of the modern state of Israel in 1948, the paper contends that “the ongoing Nakba must be stopped and remedied once and for all. This is an imperative owed to the victims of this highly preventable tragedy, and to future generations in that land.” The draft report urges U.N. member states to “enforce the prohibition of genocide in accordance with their… obligations” under international law. In January, the U.N.’s International Court of Justice (ICJ) found that Israel was “plausibly” perpetrating genocide in Gaza and ordered the country’s government to “take all measures within its power” to prevent genocidal acts. Human rights defenders say Israel has ignored the order. “Israel and those states that have been complicit in what can be reasonably concluded to constitute genocide must be held accountable and deliver reparations commensurate with the destruction, death, and harm inflicted on the Palestinian people,” the publication argues.
  4. The Chinese are way ahead of Chief Tos. If it happens they'll do it first.
  5. Marx was the last of the great classical economists. Indeed, he coined the term Classical Economics. He died in 1883 so obviously bears no responsibility for the things that were done in his name in the 20th Century. He wrote warmly about the American Revolution, however. As did Lenin.
  6. Investigation into suspected anti-competitive conduct by housebuilders The CMA is investigating suspected exchanges of competitively sensitive information by 8 housebuilders in Great Britain under the Competition Act 1998. https://www.gov.uk/cma-cases/investigation-into-suspected-anti-competitive-conduct-by-housebuilders Also, '... the only examples of monopolies you can actually point to are the ones the government creates and enforces...' Categorically untrue.
  7. Flaring nonsense. https://en.wikipedia.org/wiki/Natural_monopoly A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors. Specifically, an industry is a natural monopoly if the total cost of one firm, producing the total output, is lower than the total cost of two or more firms producing the entire production. In that case, it is very probable that a company (monopoly) or minimal number of companies (oligopoly) will form, providing all or most relevant products and/or services. This frequently occurs in industries where capital costs predominate, creating large economies of scale about the size of the market; examples include public utilities such as water services, electricity, telecommunications, mail, etc.[1] Natural monopolies were recognized as potential sources of market failure as early as the 19th century; John Stuart Mill advocated government regulation to make them serve the public good.
  8. You can't take back what you've never owned! This story is an attempt by Silicon Valley billionaires to privatise the ownership of money (along with rest of govt). The wretched Americans deserve what they get. Everyone else should give it as wide a berth as possible.
  9. The NADSAQ hasn't fallen by more than 2% for the last 106 trading sessions. Fifth longest run since the GFC.
  10. If you want to know where the US is headed then look no further than Haiti. A sweltering miasma of gangs, drugs and private militias. A siege from within and everyone is a prisoner.
  11. Bit of bantz, son. Not mine either. Borrowed from Philip Larkin as it happens, celebrated Northern poet and librarian. Perhaps you've heard of him? I believe you'll find that the overwhelming majority of people in this country think the same as I do about Sunak's stealth program of mass uncontrolled immigration. It's primarily a mechanism for keeping working class Britons impoverished and insecure. 👇 https://www.msn.com/en-us/news/other/just-9-of-brits-are-satisfied-with-government-s-handling-of-immigration-in-another-failure-for-sunak/ar-BB1kukXl Just 9% Of Brits Are Satisfied With Government's Handling Of Immigration In Another Failure For Sunak
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