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Mark Wauck's avatar

KD rants to good effect:

Biden, Threats And Energy

https://market-ticker.org/akcs-www?post=246142

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dissonant1's avatar

Mark, thanks very much for your work compiling these great sources on economic matters. I am humbled that you presented my comment to help frame your presentation, which is excellent.

I think Mercouris did a very good job explaining the EU situation in understandable terms. It isn't pleasant to contemplate Luongo's view that at a high level we are dealing with a "turf war" between the commercial banks, central banks, Davos, and Russia (and that we are the collateral for all of them). Yet it is hard to argue against that. Of interest to me was Luongo noting that the ECB itself is potentially subject to bankruptcy due to its holdings of bonds in Italy, etc. Wasn't there a saying that the first purpose of any organization is its own preservation? There are any number of ways things could go sideways in Europe now. It is no longer a stable environment for investment and as you have noted well, the ECB is seemingly powerless at this point.

So much of the economic health of the West depends on energy and our current governments are doing all they can to make it scarcer and more unprofitable to produce and distribute. Their efforts can only be seen as purposely malicious and destructive. Even more disturbing is that as Denninger notes you cannot just flip a switch to bring more energy back online when the means of production and transportation have been shut down and disincentivized. Very tough times ahead for at the very least a few years.

Thanks again for this. Much appreciated!

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