How Energy Transition Models Go Wrong

I have written many posts relating to the fact that we live in a finite world. At some point, our ability to extract resources becomes constrained. At the same time, population keeps increasing. The usual outcome when population is too high for resources is “overshoot and collapse.” But this is not a topic that the politicians or central bankers or oligarchs who attend the World Economic Forum dare to talk about.

Instead, world leaders find a different problem, namely climate change, to emphasize above other problems. Conveniently, climate change seems to have some of the same solutions as “running out of fossil fuels.” So, a person might think that an energy transition designed to try to fix climate change would work equally well to try to fix running out of fossil fuels. Unfortunately, this isn’t really the way it works.

In this post, I will lay out some of the issues involved.

[1] There are many different constraints that new energy sources need to conform to.

These are a few of the constraints I see:

  • Should be inexpensive to produce
  • Should work with the current portfolio of existing devices
  • Should be available in the quantities required, in the timeframe needed
  • Should not pollute the environment, either when created or at the end of their lifetimes
  • Should not add CO2 to the atmosphere
  • Should not distort ecosystems
  • Should be easily stored, or should be easily ramped up and down to precisely match energy timing needs
  • Cannot overuse fresh water or scarce minerals
  • Cannot require a new infrastructure of its own, unless the huge cost in terms of delayed timing and greater materials use is considered.

If an energy type is simply a small add-on to the existing system, perhaps a little deviation from the above list can be tolerated, but if there is any intent of scaling up the new energy type, all of these requirements must be met.

It is really the overall cost of the system that is important. Historically, the use of coal has helped keep the overall cost of the system down. Substitutes need to be developed considering the overall needs and cost of the system.

The reason why the overall cost of the system is important is because countries with high-cost energy systems will have a difficult time competing in a world market since energy costs are an important part of the cost of producing goods and services. For example, the cost of operating a cruise ship depends, to a significant extent, on the cost of the fuel it uses.

In theory, energy types that work with different devices (say, electric cars and trucks instead of those operated by internal combustion engines) can be used, but a long delay can be expected before a material shift in overall energy usage occurs. Furthermore, a huge ramp up in the total use of materials for production may be required. The system cannot work if the total cost is too high, or if the materials are not really available, or if the timing is too slow.

[2] The major thing that makes an economy grow is an ever increasing supply of inexpensive-to-produce energy products.

Food is an energy product. Let’s think of what happens when agriculture is mechanized, typically using devices that are made and operated using coal and oil. The cost of producing food drops substantially. Instead of spending, for example, 50% of a person’s wages on food, the percentage can gradually drop down to 20% of wages, and then to 10% of wages for food, and eventually even, say, to 2% of wages for food.

As spending on food falls, opportunity for other spending arises, even with wages remaining relatively level. With lower food expenditures, a person can spend more on books (made with energy products), or personal transportation (such as a vehicle), or entertainment (also made possible by energy products). Strangely enough, in order for an economy to grow, essential items need to become an ever decreasing share of everyone’s budget, so that citizens have sufficient left-over income available for more optional items.

It is the use of tools, made and operated with inexpensive energy products of the right types, that leverages human labor so that workers can produce more food in a given period of time. This same approach also makes many other goods and services available.

In general, the less expensive an energy product is, the more helpful it will be to an economy. A country operating with an inexpensive mix of energy products will tend to be more competitive in the world market than one with a high-cost mix of energy products. Oil tends to be expensive; coal tends to be inexpensive. This is a major reason why, in recent years, countries using a lot of coal in their energy mix (such as China and India) have been able to grow their economies much more rapidly than those countries relying heavily on oil in their energy mixes.

[3] If energy products are becoming more expensive to produce, or their production is not growing very rapidly, there are temporary workarounds that can hide this problem for quite a number of years.

Back in the 1950s and 1960s, world coal and oil consumption were growing rapidly. Natural gas, hydroelectric and (a little) nuclear were added, as well. Cost of production remained low. For example, the price of oil, converted to today’s dollar value, was less than $20 per barrel.

Once the idyllic 1950s and 1960s passed, it was necessary to hide the problems associated with the rising cost of production using several approaches:

  • Increasing use of debt – really a promise of future goods and services made with energy
  • Lower interest rates – permits increasing debt to be less of a financial burden
  • Increasing use of technology – to improve efficiency in energy usage
  • Growing use of globalization – to make use of other countries’ cheaper energy mix and lower cost of labor

After 50+ years, we seem to be reaching limits with respect to all of these techniques:

  • Debt levels are excessive
  • Interest rates are very low, even below zero
  • Increasing use of technology as well as globalization have led to greater and greater wage disparity; many low level jobs have been eliminated completely
  • Globalization has reached its limits; China has reached a situation in which its coal supply is no longer growing

[4] The issue that most people fail to grasp is the fact that with depletion, the cost of producing energy products tends to rise, but the selling prices of these energy products do not rise enough to keep up with the rising cost of depletion.

As a result, production of energy products tends to fall because production becomes unprofitable.

As we get further and further away from the ideal situation (oil less than $20 per barrel and rising in quantity each year), an increasing number of problems crop up:

  • Both oil/gas companies and coal companies become less profitable.
  • With lower energy company profits, governments can collect less taxes from these companies.
  • As old wells and mines deplete, the cost of reinvestment becomes more of a burden. Eventually, new investment is cut back to the point that production begins to fall.
  • With less growth in energy consumption, productivity growth tends to lag. This happens because energy is required to mechanize or computerize processes.
  • Wage disparity tends to grow; workers become increasingly unhappy with their governments.

[5] Authorities with an incorrect understanding of why and how energy supplies fall have assumed that far more fossil fuels would be available than is actually the case. They have also assumed that relatively high prices for alternatives would be acceptable.

In 2012, Jorgen Randers prepared a forecast for the next 40 years for The Club of Rome, in the form of a book, 2052, with associated data. Looking at the data, we see that Randers forecast that world coal consumption would grow by 28% between 2010 and 2020. In fact, world coal consumption grew by 0% in that period. (This latter forecast is based on BP coal consumption estimates for 2010 and 2019 from BP’s Statistical Review of World Energy 2020, adjusted for the 2019 to 2020 period change using IEA’s estimate from its Global Energy Review 2021.)

It is very easy to assume that high estimates of coal resources in the ground will lead to high quantities of actual coal extracted and burned. The world’s experience between 2010 and 2020 shows that it doesn’t necessarily work out that way in practice. In order for coal consumption to grow, the delivered price of coal needs to stay low enough for customers to be able to afford its use in the end products it provides. Much of the supposed coal that is available is far from population centers. Some of it is even under the North Sea. The extraction and delivery costs become far too high, but this is not taken into account in resource estimates.

Forecasts of future natural gas availability suffer from the same tendency towards over-estimation. Randers estimated that world gas consumption would grow by 40% between 2010 and 2020, when the actual increase was 22%. Other authorities make similar overestimates of future fuel use, assuming that “of course,” prices will stay high enough to enable extraction. Most energy consumption is well-buried in goods and services we buy, such as the cost of a vehicle or the cost of heating a home. If we cannot afford the vehicle, we don’t buy it; if the cost of heating a family’s home rises too high, thrifty families will turn down the thermostat.

Oil prices, even with the recent run-up in prices, are under $75 per barrel. I have estimated that for profitable oil production (including adequate funds for high-cost reinvestment and sufficient taxes for governments), oil prices need to be over $120 per barrel. It is the lack of profitability that has caused the recent drop in production. These profitability problems can be expected to lead to more production declines in the future.

With this low-price problem, fossil fuel estimates used in climate model scenarios are almost certainly overstated. This bias would be expected to lead to overstated estimates of future climate change.

The misbelief that energy prices will always rise to cover higher costs of production also leads to the belief that relatively high-cost alternatives to fossil fuels would be acceptable.

[6] Our need for additional energy supplies of the right kinds is extremely high right now. We cannot wait for a long transition. Even 30 years is too long.

We saw in section [3] that the workarounds for a lack of growing energy supply, such as higher debt and lower interest rates, are reaching limits. Furthermore, prices have been unacceptably low for oil producers for several years. Not too surprisingly, oil production has started to decline:

Figure 1 – World production of crude oil and condensate, based on data of the US Energy Information Administration

What is really needed is sufficient energy of the right types for the world’s growing population. Thus, it is important to look at energy consumption on a per capita basis. Figure 2 shows energy production per capita for three groupings:

  • Tier 1: Oil and Coal
  • Tier 2: Natural Gas, Nuclear, and Hydroelectric
  • Tier 3: Other Renewables, including Intermittent Wind and Solar
Figure 2 World per capita energy consumption by Tier. Amounts through 2019 based on BP Statistical Review of World Energy 2020. Changes for 2020 based on estimates provided by IEA Global Energy Review 2021.

Figure 2 shows that the biggest drop is in Tier 1: Coal and Oil. In many ways, coal and oil are foundational types of energy for the economy because they are relatively easy to transport and store. Oil is important because it is used in operating agricultural machinery, road repair machinery, and vehicles of all types, including ships and airplanes. Coal is important partly because of its low cost, helping paychecks to stretch further for finished goods and services. Coal is used in many ways, including electricity production and making steel and concrete. We use coal and oil to keep electricity transmission lines repaired.

Figure 2 shows that Tier 2 energy consumption per capita was growing rapidly in the 1965 to 1990 period, but its growth has slowed in recent years.

The Green Energy sources in Tier 3 have been growing rapidly from a low base, but their output is still tiny compared to the overall output that would be required if they were to substitute for energy from both Tier 1 and Tier 2 sources. They clearly cannot by themselves power today’s economy.

It is very difficult to imagine any of the Tier 2 and Tier 3 energy sources being able to grow without substantial assistance from coal and oil. All of today’s Tier 2 and Tier 3 energy sources depend on coal and oil at many points in the chain of their production, distribution, operation, and eventual recycling. If we ever get to Tier 4 energy sources (such as fusion or space solar), I would expect that they too will need oil and/or coal in their production, transport and distribution, unless there is an incredibly long transition, and a huge change in energy infrastructure.

[7] It is easy for energy researchers to set their sights too low.

[a] We need to be looking at the extremely low energy cost structure of the 1950s and 1960s as a model, not some far higher cost structure.

We have been hiding the world’s energy problems for years behind rising debt and falling interest rates. With very high debt levels and very low interest rates, it is becoming less feasible to stimulate the economy using these approaches. We really need very inexpensive energy products. These energy products need to provide a full range of services required by the economy, not simply intermittent electricity.

Back in the 1950s and 1960s, the ratio of Energy Earned to Energy Investment was likely in the 50:1 range for many energy products. Energy products were very profitable; they could be highly taxed. The alternative energy products we develop today need to have similar characteristics if they truly are to play an important role in the economy.

[b] A recent study says that greenhouse gas emissions related to the food system account for one-third of the anthropogenic global warming gas total. A way to grow sufficient food is clearly needed.

We clearly cannot grow food using intermittent electricity. Farming is not an easily electrified endeavor. If we do not have an alternative, the coal and oil that we are using now in agriculture really needs to continue, even if it requires subsidies.

[c] Hydroelectric electricity looks like a good energy source, but in practice it has many deficiencies.

Some of the hydroelectric dams now in place are over 100 years old. This is nearing the lifetime of the concrete in the dams. Considerable maintenance and repair (indirectly using coal and oil) are likely to be needed if these dams are to continue to be used.

The water available to provide hydroelectric power tends to vary greatly over time. Figure 3 shows California’s hydro electricity generation by month.

Figure 3. California hydroelectric energy production by month, based on data of the US Energy Information Administration.

Thus, as a practical matter, hydroelectric energy needs to be balanced with fossil fuels to provide energy which can be used to power a factory or heat a home in winter. Battery storage would never be sufficient. There are too many gaps, lasting months at a time.

If hydroelectric energy is used in a tropical area with dry and wet seasons, the result would be even more extreme. A poor country with a new hydroelectric power plant may find the output of the plant difficult to use. The electricity can only be used for very optional activities, such as bitcoin mining, or charging up small batteries for lights and phones.

Any new hydroelectric dam runs the risk of taking away the water someone else was depending upon for irrigation or for their own electricity generation. A war could result.

[d] Current approaches for preventing deforestation mostly seem to be shifting deforestation from high income countries to low income countries. In total, deforestation is getting worse rather than better.

Figure 4. Forest area percentage of land area, by income group, based on data of the World Bank.

Figure 4 shows that deforestation is getting rapidly worse in Low Income countries with today’s policies. There is also a less pronounced trend toward deforestation in Middle Income countries. It is only in High Income countries that land areas are becoming more forested. In total (not shown), the forested area for the world as a whole falls, year after year.

Also, even when replanting is done, the new forests do not have the same characteristics as those made by natural ecosystems. They cannot house as many different species as natural ecosystems. They are likely to be less resistant to problems like insect infestations and forest fires. They are not true substitutes for the forest ecosystems that nature creates.

[e] The way intermittent wind and solar have been added to the electric grid vastly overpays these providers, relative to the value they add to the system. Furthermore, the subsidies for intermittent renewables tend to drive out more stable producers, degrading the overall condition of the grid.

If wind and solar are to be used, payments for the electricity they provide need to be scaled back to reflect the true value that they add to the overall system. In general, this corresponds to the savings in fossil fuel purchases that electricity providers need to make. This will be a small amount, perhaps 2 cents per kilowatt hour. Even this small amount, in theory, might be reduced to reflect the greater electricity transmission costs associated with these intermittent sources.

We note that China is making a major step in the direction of reducing subsidies for wind and solar. It has already dramatically cut its subsidies for wind energy; new subsidy cuts for solar energy will become effective August 1, 2021.

A major concern is the distorting impact that current pricing approaches for wind and solar have on the overall electrical system. Often, these approaches produce very low, or negative, wholesale prices for other providers. Nuclear providers are especially harmed by such practices. Nuclear is, of course, a low CO2 electricity provider.

It seems to me that in each part of the world, some utility-type provider needs to be analyzing what the overall funding of the electrical system needs to be. Bills to individuals and businesses need to reflect these actual expected costs. This approach might avoid the artificially low rates that the current pricing system often generates. If adequate funding can be achieved, perhaps some of the corner cutting that leads to electrical outages, such as recently encountered in California and Texas, might be avoided.

[8] When I look at the requirements for a successful energy transition and the obstacles we are up against, it is hard for me to see that any of the current approaches can be successful.

Unfortunately, it is hard for me to see how intermittent electricity can save the world economy, or even make a dent in our problems. We have searched for a very long time, but haven’t yet found solutions truly worth ramping up. Perhaps a new “Tier 4 approach” might be helpful, but such solutions seem likely to come too late.

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
This entry was posted in Energy policy and tagged fossil fuels, low oil prices, solar energy, wind energy. Bookmark the permalink.

3,781 Responses to How Energy Transition Models Go Wrong

  1. agedpensioner
    aged pensioner says:

    I don’t think that we have to worry too much about the possible future electronic surveillance nightmare conditions many think we will probably be living under ten or twenty years from now. The electronic world will collapse just like every thing else when the oil, coal and natural gas are gone. I find how so many of the folks considered to be brilliant, innovative, and far thinking, talk about our continuing interacted electronically connected future to be enlightening. It exhibits a lack of awareness of the true existential threat to humankind. Which, all of us who regularly read Gail’s OFW blog know is PEAK everything. But especially peak oil, coal, and natural gas. To believe that the inter connected, inter dependent, world wide computerized civilization we now live under will survive peak oil, coal, and natural gas is not rational. Computer controlled systems and processes will be the first to collapse when the energy supply diminishes significantly. Look at the problems auto manufacturers are now having trying to produce new cars. They can’t get the micro chips needed to run all the mini computers that are now incorporated into newer cars. The coming collapse is going to effect everything and everyone on this planet. It won’t be possible for anywhere near 7 billion+ people to inhabit the earth then. Sadly, having knowledge is not always a comforting thing. To be aware of what is coming is in actuality, depressing and terrifying. Unfortunately I can’t see any answers or solutions for the future decline of our civilization.

    • we aged p’s see life for what it is.

      • Dennis L. says:

        Norm, I agree, it is a beautiful world and life is today. At one point in the earth’s hx a large rock fell from the sky and some feathered dinosaur looked around and said to him/her self, “Man, I am out of here.”

        Chickens still come home to roost.

        Dennis L.

    • Dennis L. says:

      aged,

      May I suggest you consider discretionary/essential? Essential services most likely will be the last to go. Per Tim Morgan discretionary spending is now mostly credit of one form or another.

      There are predicaments, the trick is to be on the right side of the predicament, not all will fail and predicting who will and who will not is a fools game.

      Dennis L.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      I think you are exactly right. Collapse will destroy all of the dreams of perfect control and more and more technology.

  2. StarvingLion says:

    The Nikkei 225 is on the brink of TOTAL COLLAPSE…

    I mean look at it…its a horror show

    https://finviz.com/futures_charts.ashx?t=NKD&p=d1

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      I see that the Dow is down by 260 points today. It was down more during the day. The ten-year Treasury rate is now below 1.30%. The direction seems to be down.

      I’m sorry I won’t be able to get a new post up for a few days, because of my travel.

  3. StarvingLion says:

    HAHAHAHA…The Reddit Stock Gamblers are gonna go really nutz today.

    Junk like AMC and NEGG are gapping down huge at the open.

    Will be monstrous swings.

    Watch the communists at the “Federal” “Reserve” buy the dip to save the day once again.

    • StarvingLion says:

      “Hello?”

      “Hello, this is Margin Call. Please sell your holdings for a loss.”

      “Wait, can I deposit more of my life savings instead?”

      “Of course. We will call back later.”

      • D. Stevens says:

        Hello McFly! Think McFly. Don’t trade on Margin McFly. Stop over trading and stressing out over which crypto. Buy some things with money you can live without if it disappears then go do something else. Watching your trading account all day and second guessing each move isn’t good for your health.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Maybe we should be happy that collapse is occurring. Perhaps it will bring an end to this kind of nonsense!

      • Student says:

        I totally agree with you Gail.
        It will be surely hard, but I think that deception and manipulation are more difficult to bear.

      • Mrs S says:

        I do hope so.

        But I do wonder if they don’t have some alternative energy source that they are keeping secret.

        • worldofhanumanotg
          worldofhanumanotg says:

          Very good point, apart from stuff we don’t know about (for sure), there are still known options, e.g. breeders, it’s in the open, but the energy surplus leverage is relatively poor-modest vs legacy infrastructure and other priorities of the day, and there is also the NIMBism factor in other parts of the world. That’s why even China is still opening new hydro dams (or coal plants on very long wires from their W deserts) etc., where the entry point on the surplus energy curve is still ~cheaper..

            • Mrs S says:

              Have you heard of DARPA and WEF and the Council for Foreign Relations? And Google and Facebook? And the Bill and Linda Gates Foundation?

              Well it turns out they share some personnel and they’ve been having meetings.

              Impossible to believe, I know.

            • oh nooooooooooo

              not meetings

              that’s just toooooooooo suspicious.

              Or maybe they just like each other’s company.

              I’m personally judged to have a vivid imagination (by some people)–but it doesn’t stretch to Bill and Melinda Gates harbouring some as yet unknown energy source that they refuse to share with humankind.

              But its not ‘energy sources’ that’s the problem anyway.

              It’s resource shortage–all the things we need to make energy actually usable.

            • Tim Groves says:

              They can put a man on the moon / They can make soap out of people / And food out of wood……

              I think the reference is to the collective ruling elite who are hidden behind a cloak of invisibility so that the general public can’t see them and consequently doesn’t know or believe that “they” exist.

            • Tim

              once upon a time I would have judged you , in terms of reason, to be worth more than just eye rolling.

              Are you sure ‘they’ are not just under the sail on don’s boat?

            • Mark says:

              They are “the deciders”
              https://www.youtube.com/watch?v=8de2W3rtZsA

              Of course, I agree with you on the energy part, but it’s a lot worse than having meetings.

              https://www.youtube.com/watch?v=f9lq-uBdxg8

              This is why you miss the JW’s 🙂

            • I wish I could get past abstract terminology—reminds me of the resetters

            • Mark says:

              So powerful people don’t get together and have a plan? (not that it will work)
              https://tmblr.co/ZeGGjtbGPu3r

            • I didn’t say that

              of course they do

              but its to do with specific business—food, oil, shipping and so on, for financial gain

              not to plan the extermination/control of humankind

    • Dennis L. says:

      Sweden had some aspects of this article, pretty women, the US was very selective in who it admitted, that worked pretty well.

      The world is changing, fighting is hopeless, sometimes one accepts it is a ride and we are on the horse going in an overall direction; one can jump off, may be correct, or may be trammeled by the herd.

      Only skimmed the first paragraph, maybe missed something.

      Dennis L.

  4. Mrs S says:

    What are we missing?

    Our overlords are not planning for collapse a la The Road.

    They are planning for transhumanism. They have loads of projects on the go via Wellcome Leap – which is the world’s richest medical research foundation, the Wellcome Trust, teamed up with two former DARPA directors who built Silicon Valley’s skunkworks surveillance architecture.

    Their projects focus on AI, mobile sensors, and wearable brain-mapping tech for children. It’s chilling stuff. And all the projects are due to end around 2030.

    They can’t be stupid enough to have missed the energy problem.

    Can they?

    • Xabier says:

      I suggest they still need lots of us alive – locked-down, but alive! – for all these insane projects: genome mapping, bio-data harvesting, mass experimentation, etc.

      Why else work on all these systems of control, exploitation, and modification? The big money is being shovelled in that direction as infrastructure decays.

      We still, perhaps, have quite a lot of value to them: as entirely compliant lab rats.

      This is also perfectly compatible with a sterilisation programme, rather than induced mass deaths in 2021/22.

      Squeeze us like lemons, then throw us away……

      Take a look at James Giordano, DARPA researcher on YT: nano-bio-weapons, etc.

      The oil bonanza was used to create these insane programmes as the culmination of our scientific civilisation.

      • Mrs S says:

        Yes I think you’re right.

        But do you really think they haven’t factored the energy problem into their calculations?

        Are they really that dim?

        • worldofhanumanotg
          worldofhanumanotg says:

          Well, I’m getting older, I can spill some beans, one of the most dependable analytic tools is just to closely watch a specific issue/agenda as it cascades across the hierarchical apparatus..

          For example, as you may recall few years ago there was that awkward NATO dinner with invited msm over. The Great Don was lambasting and hammering the poor Europeans (NATO’s Stoltenberg) across the dinner table how they should increase mil-defense budgets, sort of whipping himself up more angrier each round, and finally laying down the clincher: how on Earth is Germany financing Russia through the gas deals switching off own NPPs and coal, then going a step further along the lines “..energy is not a mere trade issue it’s much more important..”

          In other words if Don knows (knew then) in some limited capacity to comprehend, it’s rather obvious the ruling structures above him, say at least 2-3x layers of deep state and int banking circles definitively must know and act even in more nuanced fashion (ala OFW awareness levels, lol) on this very topic..

      • worldofhanumanotg
        worldofhanumanotg says:

        Exactly, that seems to be the most probable operational goal.
        There is probably mix of agendas with priority list, universal fast depop (if even possible) must be an outlier case of rather low probability.

        Given the available hints, what’s at hand is “merely” loud slamming of the doors behind the “old world” we used to know aka from now phasing in of intensive triage and attempted selective turning off opulent energy spigots across industrial sectors, regions and social groups.

        It’s basically part of historical macro event, sort of enclosing circle to revert into more direct feudalistic structure given the surplus energy predicament. And although I don’t bet on it, we could be surprised yet again by some next round of extension, can kicking effort.. at least with respect to how some regions manage to block out fast decay onto their adversaries instead..

        • MM says:

          The depop with swabs is highly coupled with genetic screening and data collection for poulations. It is some sort of “digital global health census” where all data streams flow through NATO wires to John Hopkins that also was the head of the simulations.
          Similar data streams will come out of financial and infratstructure from the Polygon simulation.

          • worldofhanumanotg
            worldofhanumanotg says:

            You could be right, even the sampling being sort of prequel, testing-adjusting, fast prototyping on the go for some near future big depop event push, but still I doubt it’s doable on such large scale in one go..
            For comparison, the entire WWII was at most single digit or low dozen % aggregate depop per several years in the most affected nations, so even striking for ~10-30% per annum deleting impact would be just biblical..

            • MM says:

              depop works on “get your ration today or not”. Jabs a way too complicated. The data collection is the problem

      • sssshhhheeeessshhhhhh

        how does this stuff germinate in peoples minds? It defies belief.

        suddenly insanity self perpetuates itself to the point of certainty. It gets more bizarre with every telling. No wonder folks want to get injected with iron filings if this is the thought process they are drawn into.
        Nano-bioweapons. Another bit of YT clickbait.

        I only chuck in my two pennorth of disruption in case there are any folks left out there with unrestricted access to logic.

        *******

        There is no ‘grand conspiracy’ to control humankind for mass experiments.

        Press LOGIC button here>>>>>>

        With 95% of the human species locked down into some kind of ‘controlled environment’ (One must assume camps of some kind, being routinely subjected to ‘experiments’ up to and including death presumably.)………….

        What or who will keep the ‘system’ functioning for the other (presumably wealthy elite) 5%?

        Press LOGIC button again>>>>>>>

        If several billion people are under ‘control’, then by definition there will have to be ‘controllers’
        Thousands of people vanishing into laboratories every day might arouse the suspicions or everyone else.
        Are we supposed to believe that the huts with no windows are just ‘showers’? (That was probably a eddyhoax anyway.).

        Press LOGIC button again>>>>>>>>

        What would be the ultimate purpose? Experimentation for what? Biodata for what? (head banging time) If you’re going to sell ‘biodata’, it is necessary to have live people to sell it to. Has no one taken the trouble to figure that out?

        Press LOGIC button again (harder)>>>>>>>

        If Bezos kills off everyone passing his parcels, (mass extermination anyone?) then he becomes a pauper like everyone else. Same applies to everyone in the ‘rich elite’
        Has no one taken the trouble to figure that out?

        Or is that just too logical to deal with?. It certainly conflicts with this current line of ‘certainty’

        • Xabier says:

          Norman, you have yourself taken part in a medical and genetic experiment, by volunteering to be ‘vaccinated’.

          The ‘vaccines’ are in fact novel gene therapies, using a technology, mRNA, which has never been formally licensed, let alone used on this scale before.

          This is an experiment by any reasonable definition, and a genetic one.

          Camps are not necessary these days: you are enjoying being part of the experiment in the comfort of your own sweet home.

          Next these disgusting monsters are coming for your great-grandchildren. For everyone’s children!

          And you refuse to look these simple and proven facts in the face. You won’t defend yourself or others.

          It would be amusing, in a dark way, were your case not so tragic, along with hundreds of millions of others……

          • I will indulge your imagination-stretch a little while longer.

            Incidentally I write this stuff down in this way so I can look at it, read it, and know that it makes sense to myself.
            The opinion of others is their problem.

            the vaccine is ‘generic’ not ‘genetic’ (google both words)
            There is no ‘gene therapy”–try to stop pulling words out of medical thin air.
            Nobody wants to alter your genes, sterilise you or give you a sex change or force you into becoming an elite-serving robot.

            In other words they had proven anti virus vaccines available, they were just tweaked to fit this situation. There is no ‘experiment’.

            (I know this doesn’t fit with youtube clickbait, but there it is)

            reading every crackpot notion pumped out on social media doesn’t make them true. Try to stop searching for clickbait that fits your personal version of the truth, and try to establish what is actual truth

            there are no ‘monsters’ coming for my great grandchildren or anybody children.—try reading your comments over before posting. You are echoing Q Anon–maybe theres a reason for that? There is nothing ‘proven’ at all.

            (I fear for their future, naturally, but that has nothing to do with a reincarnated Dr Mengele I assure you.)

            Ive had youtubes thrown at me as ‘proof’ on other occasions. They are an insult even to my limited intellect.

            Looked logically—do you realise how silly ‘nano-bioweapons’ sounds?

            A word extracted from some obsessive youtube nut doesn’t make it true

    • Bei Dawei says:

      Well, good luck to them. My friend places his hope in the (technological) Singularity. He recently asked me to reassure him that Covid-19 wouldn’t affect the rise of the Singularity. I felt sure it wouldn’t,

  5. Tim Groves says:

    COVID-19 Vaccinations in the United States, updated daily by the CDC.

    “This shows the number of doses administered within the state or territory for every 100,000 people of the total population. It does not reflect the residency of the person receiving the vaccine, but where they received it.”

    https://covid.cdc.gov/covid-data-tracker/#vaccinations

    According to the official data, a bit less than half of the US population is fully vaccinated and a bit more is partially vaccinated. Only 47.6% fully, and 55.1% if those with only one dose are included.

    If this state persists, and if—big if—the authorities are willing to provide accurate data, it will provide a rare opportunity to see which team does better this coming flu season—the Blue Covidians or the Red Refuseniks.

  6. “Chinese official declares Beijing has targeted Australian goods as economic punishment.

    “A Chinese official has openly declared that Beijing has singled out Australia for economic punishment, saying the federal government cannot profit from China while “smearing” it.”

    https://www.abc.net.au/news/2021-07-07/australia-china-trade-tensions-official-economic-punishment/100273964

    • “Coal Prices Soar As China Refuses To Buy From Australia…

      “China’s aim of punishing Australia… has largely failed as Australian producers simply rerouted their cargoes towards India. China, on the other hand, was forced to buy increasing amounts of Indonesian and Russian coal to accommodate domestic demand, triggering a more than 25% price hike compared to January levels.”

      https://oilprice.com/Energy/Coal/Coal-Prices-Soar-As-China-Refuses-To-Buy-From-Australia.html

      • “Japan is ‘digging its own grave’ by offering to defend Taiwan from China alongside the US, Beijing warns… The country is ‘powerless’ against the Chinese military and would never engage over Taiwan without US support, according to an opinion column in the Global Times.

        “The article added a claim that Japan would become a legitimate target and face retaliation if its military crosses China’s ‘red lines’.”

        https://www.dailymail.co.uk/news/article-9768017/Japan-digging-grave-offering-defend-Taiwan-China-alongside-US.html

        • Tim Groves says:

          Oh, I don’t like the sound of that! Digging its own grave, is it?

          The CCP are proud and simple people—always marching, always applauding, always threatening to punch somebody’s face in.

          I for one welcome our new Mandarin-speaking overlords.

          Perhaps the Japanese will get to experience a bit of what the Tibetans and Uyghurs, not to mention the long-suffering Han Chinese majority have been experiencing for at least half a century while Japan and the rest of the industrialized world was pouring aid and investment into strengthening the Middle Kingdom.

        • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
          Gail Tverberg says:

          We don’t need a war with China attacking Taiwan, and the US and Japan on the other side! Japan is awfully close in such a situation, for one thing.

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        We are in the midst of peak coal as well as peak oil, something a lot of people don’t understand.

        Australia seems to have some difficulties as a supplier. Its coal supplies can be unreliable, due to the tendency for flooding to cut off supplies. This may add to China’s wanting to find supplies elsewhere.

        There is a mention in the article about a new agreement between Russia and India. It gets to be a contest as to where to go.

        It may be that the soaring debt in the world has been feeding coal as well as oil prices. It can last, until the bubble collapses.

  7. Fast Eddy says:

    Facebook goes full Big Brother with new “extremism” warnings

    Pop-ups mark an all-time high for creepiness from the internet giant.

    Have you been reading things you shouldn’t online? Have you found yourself feeling frustrated and angry at the corruption of the ruling class, wealth inequality or the general state of the world?

    Well then, the chances are good you’ve accidentally been exposed to “misinformation” or “extremist content” spread by “violent groups” in order to manipulate you.

    But don’t worry, Facebook is on the case. Simply report the offensive and upsetting materials to your local content controller, and then contact their pre-approved counsellors for immediate de-programming.

    https://off-guardian.org/2021/07/02/facebook-goes-full-big-brother-with-new-extremism-warnings/

    https://off-guardian.org/wp-content/medialibrary/facebook-extremist-content-warning-1.jpg

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Perhaps the extremism is from Facebook’s monitoring everything.

  8. Fast Eddy says:

    Hey norm dunc… remember kuwait … have you seen this?

    https://youtu.be/yaR1YBR5g6U?t=251

  9. “Chip crisis deepens with Daimler, Jaguar warning of lost sales.

    “Daimler AG and Jaguar Land Rover became the latest carmakers to warn of crimped sales as a result of the global semiconductor shortage, with the latter flagging deliveries in the second quarter will be 50 per cent worse than initially thought.”

    https://www.bnnbloomberg.ca/global-chip-crisis-worsens-with-jaguar-warning-50-sales-slump-1.1625719

    • “‘It’s like Whack-a-Mole’: tractors and trucks chief bemoans supply shortages…

      “Manufacturers had to spend more money to source materials last month, with the Institute for Supply Management’s prices paid index, which tracks what manufacturers pay for inputs, jumping to 92.1 in June compared with 88.0 in May, its highest level since the 1970s.”

      https://www.ft.com/content/eb9c2e10-760b-4379-8fe0-d1144295c39a

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      50% worse sales is a huge cut!

  10. “What will life be like after Covid-19? History does not paint a pretty post-pandemic picture… History shows that social unrest follows pandemics…

    “This is according to Schroders Asset Management, which on Wednesday hosted a webinar on the long-term impact of Covid-19.”

    https://www.news24.com/fin24/economy/what-will-life-be-like-after-covid-19-history-does-not-paint-a-pretty-post-pandemic-picture-20210708

    • Can’t imagine this will help: “Covid-19 has destroyed 22 million jobs in advanced countries, says OECD…

      “Job retention schemes have saved some 21 million jobs, but rich countries face the threat of rising long-term unemployment rates.”

      https://www.cnbc.com/2021/07/08/oecd-covid-19-has-destroyed-22-million-jobs-in-advanced-countries.html

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        Or maybe the title should be, “The world’s response to COVID-19 has destroyed 22 million jobs in advanced countries, says OECD.

    • postkey
      postkey says:

      “In this paper we analyze the dynamics among past major pandemics, economic growth, inequality, and social unrest. We provide evidence that past major pandemics, even though much smaller in scale than COVID-19, have led to a significant increase in social unrest by reducing output and increasing inequality. We also find that higher social unrest, in turn, is associated with lower output and higher inequality, pointing to a vicious cycle. Our results suggest that without policy measures, the COVID-19 pandemic will likely increase inequality, trigger social unrest, and lower future output in the years to come. “
      https://www.imf.org/en/Publications/WP/Issues/2020/10/16/A-Vicious-Cycle-How-Pandemics-Lead-to-Economic-Despair-and-Social-Unrest-49806

  11. “China Pivots on Central Bank Easing… Hints at Reserve Ratio Cut to Help Bolster Economy.

    “China’s State Council signaled the central bank could make more liquidity available to banks in order to boost lending to businesses, including by cutting the amount of money they have to keep in reserve. Bond yields fell.”

    https://www.bloomberg.com/news/articles/2021-07-07/china-s-cabinet-raises-possibility-of-cut-to-rrr-to-aid-economy

    • “China’s central bank is ‘quite worried’ about global risks from some digital currencies.

      “China’s central bank is “quite worried” about risks to the global financial system from privately developed digital currencies, particularly so-called global stablecoins.”

      https://www.cnbc.com/2021/07/08/chinas-central-bank-is-quite-worried-about-some-digital-currencies.html

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Not much choice, with things going badly. More debt, like everyone else.

  12. “Is the IMF repeating its mistakes from the global financial crisis?

    “…as the Federal Reserve continues to inflate a global “everything” asset and credit market bubble, the IMF risks repeating its 2008 error. By so doing, it is failing to fulfil its mandate of promoting global economic prosperity.”

    https://thehill.com/opinion/finance/561724-is-the-imf-repeating-its-mistakes-from-the-global-financial-crisis

    • “Central banks must change course to avoid possible financial crisis… [good luck with that – do you prefer a rock or a hard place?]

      “Monetary policy was already at an impasse before Covid-19 struck. The system had been swamped with liquidity through the highly accommodative monetary stance of the past decade. This has pushed global debt to 355% of world gross domestic product, a record for peace time.

      “Huge leverage has weakened the financial system and endangered stability.”

      https://www.omfif.org/2021/07/central-banks-must-change-course-to-avoid-possible-financial-crisis/

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        It is hard to see how a crisis can be avoided, no matter what!

    • Fast Eddy says:

      Funny how they continue to call these policies mistakes… if not for the ‘mistakes’ of the past 13 years… we’d be long dead.

      I suppose these writers have no clue as to the desperate battle we are in as oil runs down ….

  13. “Here are four reasons the West is headed for a ‘very drastic crisis,’ according to a veteran economist… Patrick Artus, a senior economics adviser at French bank Natixis and a professor at the Paris School of Economics… says a crisis is “inevitable.”

    “[Sovereign] “Borrower solvency cannot be ensured if debt-to-income ratios increase continuously,” he says…

    “The money supply also is at records. “The money supply cannot be increased continuously relative to income, as soon or later demand for money, which is linked to savings and income, can no longer increase,” said Artus…

    ““Rising relative asset prices cannot be extrapolated: If they become too high, the savings of asset buyers will no longer suffice to buy then, leading inevitably to a downward correction in prices,” he says…”

    https://www.marketwatch.com/story/here-are-four-reasons-the-west-is-headed-for-a-very-drastic-crisis-according-to-a-veteran-economist-11625655832

  14. Rodster says:

    Jim Rickards and several others have been preaching that it is all about China in the future as it cements its place as the next global superpower. And now Jim Rickards is saying in his latest musing that China is essentially a basketcase. Now that’s what I call a 180. He should have listened to Charles Huh Smith as he points to a future implosion of China.

    https://dailyreckoning.com/china-fragile-giant/

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Everyplace is a basket case, I am afraid.

    • Malcopian says:

      But isn’t there a shortage of cement?! China uses more cement in a year than the USA used in the whole of the 20th century.

  15. The FAILURE of the information NETWORK named MONEY….talk of Alan Watts

    https://m.youtube.com/watch?v=y-N-vGY088k

    Have unbelievable superstitions….
    Found it incredibly revealing of one aspect of the shortcomings of the human condition..
    This YouTube channel “Intellectual Wave” has a series of his other talk topics if interested

  16. StarvingLion says:

    Gail, I’m conversing with the Reddit Stock Gamblers now. They told me the stock market won’t collapse until April 2022.

    But they assured me it will totally collapse sometime very shortly after that date for sure.

    They also said SPDR S&P 500 ETF Trust (SPY) at 500 will mark the top. Currently at 432.

    BTFD until then.

  17. Fast Eddy says:

    The word went out on Twitter: Safetrade was supposedly “rug proof.” The person or persons behind it couldn’t cut and run. An account that promotes meme coins, Crypto Gems, was urging their followers to get in — and get in fast. (Crypto Gems didn’t reply to messages from Bloomberg; whoever is behind it couldn’t be reached.)

    It was April 10, a Saturday, and Safetrade was getting buzz across social media. People were saying this looked like the next “it” coin. Robert Turner placed $50 on Safetrade through PancakeSwap, one of the most popular decentralized exchanges for meme coins.

    A couple of days later, the rug got pulled. Or at least that’s what Turner thinks happened. He was monitoring Safetrade on Poocoin.com, a scatologically named crypto platform, when the price collapsed to nearly zero in less than a minute. He checked the Safetrade Telegram group. Deleted. Members had been kicked out.

    Monitoring on Poocoin.com…… I am going to start a crypto exchange… idiocracy.com

  18. Fast Eddy says:

    Crypto Scammers Rip Off Billions as Pump-and-Dump Schemes Go Digital

    Billions are getting pilfered annually through a variety of cryptocurrency scams. The way things are going, this will only get worse.

    https://www.bloomberg.com/news/features/2021-07-08/crypto-scams-rug-pulls-bitcoin-hacks-billions-lost-when-shit-coins-go-to-zero?srnd=premium-asia

  19. Fast Eddy says:

    PLANNEDILLUSION NEWS WEEKLY #23 – GUEST UPDATES AND THE LATEST NEWS – NO JAB NO JOB

    https://www.bitchute.com/video/PhAHTQGrrqwX/

  20. Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
    Gail Tverberg says:

    I figured out today how new airline practices can help spread COVID. The plane we were on had the middle seat empty. It didn’t seem to be a big problem.

    The problem was the screening process before we got on the plane. We stood in line for close to an hour, in a large group of people–I would guess 1,000 or more. The signs said to stay 6 feet or more from others, but that clearly was not possible. There were some partial plexiglass partitions with quite a few spaces in them, in some places in the overly large room where we were all circling around, hoping to get our luggage checked. But it was hard to see that the limited number of plexiglass shields did much. Instead of having smaller check points, they were now consolidated. There was not nearly enough staff, relative to the stations available. I wonder if the agency was having trouble finding enough people for the jobs.
    People in line were wearing masks, sort of. I would estimate that 20% did not have them over their noses.
    Back before all of this happened, a person could get through line in 5 minutes, or perhaps 10, on a bad day. Dumping everyone together for an hour is a recipe for spreading around whatever viruses happened to be in the air.

    • Fast Eddy says:

      I’d prefer to stay home than deal with that nonsense

    • All of what you describe – large groups of people in close proximity for nearly an hour; failure to maintain 6 foot distancing; not enough staff – begs the question: is there really a virus circulating? What you describe seems more indicative of an effort to make air travel more uncomfortable and thus discouraging. It’s the same in other countries.
      It wasn’t always this way; the owners of the airline industry used to want our dollars. Now they claim to have seen the light and have converted to the religion of “Climate Change” – at least that’s what they tell us. Perhaps the truth is that they’re merely attempting to conserve declining energy resources.

  21. StarvingLion says:

    Didi took $13 billion in cash from American investors and days later the Chinese government shutdown the app.

    And, to top it off, the CCP is now discussing scrapping the Variable Interest Entity (VIE) structure through which foreign investors have “invested” in Chinese companies.

    Wonder if American and other foreign investors will *finally* get the memo with Didi here. If the CCP wanted American and foreign investors to lose the maximum right out of the gate, they could not have timed this move any better.

  22. Fast Eddy says:

    Where is don?

    – teaching young boys to sail?
    – shagging a SI Model?
    – on a coast to coast ride with a hotty?
    – hanging out with Robert Rapier?
    – brooding because the WSJ is a who re?
    – on suicide watch at the sanitorium and babbling about wanting to murder some Fast Eddy character?
    – in a session with the doctors at the local prison being evaluated for insanity for insisting that he is Cato (the younger) and attempting to explain how it is ‘okay to stand outside the primary school and proposition the boys’

    Where … is … don??????

  23. Oil prices are collapsing! Hoard water. Plant some seeds. Buy gold and… no wait, sell gold and buy ammo. We’re doomed. By the end of 2021. Don’t tell me I didn’t warn you.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      If the OPEC-Russia cartel doesn’t work, then the countries that want to pump more. (UAE and the “Stan” countries) can do so. Others will have the fear of missing out, and will join in as well.

      I also see that the 10-year treasury is down to 1.316 now. That is very low. The US dollar seems to be rising relative to other currencies again. That pushes the oil price down.

  24. Fast Eddy says:

    hahahahahahahaha greatest hits!

    https://youtu.be/vLdwCdyiDCw

    Does UV light kill COVID-19?

    Coronaviruses die very quickly when exposed to the UV light in sunlight. Like other enveloped viruses, SARS-CoV-2 survives longest when the temperature is at room temperature or lower, and when the relative humidity is low (<50%).

    • Xabier says:

      The WEF published an idea for a sort of artificial ‘virus-killing ‘ sun, under which smart city dwellers could stand -suitably distanced – when allowed their hour of exercise outside their tiny eco-accommodation under lock-down.

      ‘So you can feel safe outside’…..!

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        The real sun works quite well, thank you!

      • ”idea for a sort of”

        goes into my science wishful thinking folder

        I assume ”the Masses’ wouldn’t be allowed to use it

  25. Fast Eddy says:

    Ooink
    Jul 6, 2021 8:13 AM
    Reply to Gezzah Potts
    Does he talk about driving around with the sirens on for nothing? There seems to be a lot of that in my area.

    3
    0
    Reply
    Gezzah Potts
    Gezzah Potts
    Jul 6, 2021 8:48 AM
    Reply to Ooink
    No, he didn’t mention that, but on my street (a fairly major suburban road in Melbourne) I get the sirens literally every single night. Interesting tho that they don’t happen during the daytime.
    And I’ve been home the last 4 days to.

    Fantastic idea!!!! If you want to scare the living daylights out of people — but you wouldn’t use the actual paramedics to do this … you use operatives…

    Another idea that the PR Team came up with was welding infected people in their homes… having operatives pretend to fall dead on a street from covid (yes of course — if you had a horrible flu or cold… you’d be walking around the city too!!!) and my favourite is those big trucks spraying entire streets with disinfectant! (because we all KNOW that covid loves air and sun and all those good things that the pavement has to offer + people love nothing more than a good lick of the sidewalk… might get a tasty morsel of dog sh it!)

    It’s an Ocean of Stoooopidity we are living in … an massive Ocean of ID iots.

  26. Fast Eddy says:

    Consider this…

    In Ontario … despite a nearly a year of lockdowns… Covid has not gone away … in fact we are told the case numbers have spiked during the lockdowns — and the answer has been more lockdowns…

    They have recently loosened up despite having a 7 day average of 223 infections being reported…

    Of course a pandemic starts with one case… so an average 7 year old would be able to work out that Toronto should within a short period of loosening … have a massive spike in infections … and be forced to return to lockdown….

    Meanwhile in Australia even the slight whiff of an infection and the entire place locks down … because as we are told — a single case leads to exponential infections – and disaster….

    Meanwhile… we’ve got Sweden … no lockdowns – ever – no masks – ever…. no disaster.

    In fact they continue to drop down the table and are now 30th in deaths per capita https://www.statista.com/statistics/1104709/coronavirus-deaths-worldwide-per-million-inhabitants/

    Their total covid death count is 14,633…. the vast majority of these deaths occurred early when Sweden did not adopt Focused Protection … if they had prioritized the elderly / chronically ill… they’d be a lot lower than 30th on that table… they’d likely be absolutely bottom of the table…

    And yet what’s the MSM position on Sweden? You’d think it was a failed state based on the hysteria….

    The obvious response should be to embrace Focused Protection … end all lockdowns… NOT vaccinate … and this would be what it is … a bad flu…and it would have passed long ago …

    Anyone who cannot see that Covid and the Vaccines are not what we are told they are — after reading the above — is MOREON.

    Yes YOU… look in the mirror if you do not understand this … that is what a MOREON looks like… an Im Be Cile….

    Now look more closely … pull back your lips so you can see your teeth and gums … open your eyes wide… inspect the pores on your skin … drink it all in …

    You are a F&*(ing MORE ON. Accept it. Embrace it. And nothing .. I repeat NOTHING … will change it.

    Am I clear?

    • Rodster says:

      They did not take the advice of Dunce and Norm, which is Covid’s version of Fox and Friends.That’s the problem because if they did there would be no more Covid cases in Canada.

  27. StarvingLion says:

    Crypto is about CRASH INTO OBLIVION.

    I am out. Didn’t make a dime.

    The whole mindless shit is a den of thieves.

    Accounts will just vaporize altogether.

    BTC, ETH, ADA, etc are going to 0.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Sort of like you were warned.

      • Fast Eddy says:

        There’s some serious anger issues on display here… one wonders if Starving bought very high and sold very low … and is not telling us the whole story…

        BTW – where’s don the last day or so? (tee hee)….

        • I’m missing the don too

          the don was starting to make my day
          wild and wacky in a different way

          • Tim Groves says:

            The Don with the luminous prose?

            For those who are unfamiliar with the nonsense of Edward Lear:

            When awful darkness and silence reign
            Over the great Gromboolian plain,
            Through the long, long wintry nights; —
            When the angry breakers roar
            As they beat on the rocky shore; —
            When Storm-clouds brood on the towering heights
            Of the Hills of the Chankly Bore: —

            Then, through the vast and gloomy dark,
            There moves what seems a fiery spark,
            A lonely spark with silvery rays
            Piercing the coal-black night, —
            A Meteor strange and bright: —
            Hither and thither the vision strays,
            A single lurid light.

            Slowly it wander, — pauses, — creeps, —
            Anon it sparkles, — flashes and leaps;
            And ever as onward it gleaming goes
            A light on the Bong-tree stems it throws.
            And those who watch at that midnight hour
            From Hall or Terrace, or lofty Tower,
            Cry, as the wild light passes along, —
            “The Dong! — the Dong!
            “The wandering Dong through the forest goes!
            “The Dong! the Dong!
            “The Dong with a luminous Nose!”

            Long years ago
            The Dong was happy and gay,
            Till he fell in love with a Jumbly Girl
            Who came to those shores one day.
            For the Jumblies came in a sieve, they did, —
            Landing at eve near the Zemmery Fidd
            Where the Oblong Oysters grow,
            And the rocks are smooth and gray.
            And all the woods and the valleys rang
            With the Chorus they daily and nightly sang, —
            “Far and few, far and few,
            Are the lands where the Jumblies live;
            Their heads are green, and the hands are blue
            And they went to sea in a sieve.

            Happily, happily passed those days!
            While the cheerful Jumblies staid;
            They danced in circlets all night long,
            To the plaintive pipe of the lively Dong,
            In moonlight, shine, or shade.
            For day and night he was always there
            By the side of the Jumbly Girl so fair,
            With her sky-blue hands, and her sea-green hair.
            Till the morning came of that hateful day
            When the Jumblies sailed in their sieve away,
            And the Dong was left on the cruel shore
            Gazing — gazing for evermore, —
            Ever keeping his weary eyes on
            That pea-green sail on the far horizon, —
            Singing the Jumbly Chorus still
            As he sate all day on the grassy hill, —
            “Far and few, far and few,
            Are the lands where the Jumblies live;
            Their heads are green, and the hands are blue
            And they went to sea in a sieve.

            But when the sun was low in the West,
            The Dong arose and said;
            — “What little sense I once possessed
            Has quite gone out of my head!” —
            And since that day he wanders still
            By lake and forest, marsh and hills,
            Singing — “O somewhere, in valley or plain
            “Might I find my Jumbly Girl again!
            “For ever I’ll seek by lake and shore
            “Till I find my Jumbly Girl once more!”

            Playing a pipe with silvery squeaks,
            Since then his Jumbly Girl he seeks,
            And because by night he could not see,
            He gathered the bark of the Twangum Tree
            On the flowery plain that grows.
            And he wove him a wondrous Nose, —
            A Nose as strange as a Nose could be!
            Of vast proportions and painted red,
            And tied with cords to the back of his head.
            — In a hollow rounded space it ended
            With a luminous Lamp within suspended,
            All fenced about
            With a bandage stout
            To prevent the wind from blowing it out; —
            And with holes all round to send the light,
            In gleaming rays on the dismal night.

            And now each night, and all night long,
            Over those plains still roams the Dong;
            And above the wail of the Chimp and Snipe
            You may hear the squeak of his plaintive pipe
            While ever he seeks, but seeks in vain
            To meet with his Jumbly Girl again;
            Lonely and wild — all night he goes, —
            The Dong with a luminous Nose!
            And all who watch at the midnight hour,
            From Hall or Terrace, or lofty Tower,
            Cry, as they trace the Meteor bright,
            Moving along through the dreary night, —
            “This is the hour when forth he goes,
            “The Dong with a luminous Nose!
            “Yonder — over the plain he goes;
            “He goes!
            “He goes;
            “The Dong with a luminous Nose!”

    • geno mir
      geno mir says:

      Various people warned you in advance, including myself. Don’t play stupid when you are late to the party, just get a drink or two and watch watch with enjoyment.

  28. Fast Eddy says:

    Jesper
    Jul 5, 2021 9:15 PM
    The concept of herd immunity is false.
    The concept of herd stupidity is painfully true.

    hahahaha.. nice!

  29. Fast Eddy says:

    England will be entering “uncharted territory” in its wholesale scrapping of Covid lockdown rules and infection numbers could easily rise above 100,000 a day over the summer, the health secretary has said.

    https://www.theguardian.com/world/2021/jul/06/covid-cases-rise-above-100000-a-day-sajid-javid-concedes-england

    ConstantBees
    Jul 6, 2021 7:00 PM
    Reply to nondimenticare
    What’s even “better” is that the “vaccinated” can then breed and spread vaccine-resistant variants since their jabs do not stop them from getting or transmitting the virus. Rather like pesticide-resistance being developed in insects that are exposed to pesticides.

    Paul
    Jul 6, 2021 3:21 PM
    Does it really seem plausible that all these so called ‘cases’ and rise in ‘cases’ in the UK are really in the under 40’s?

    This is the very age group they are targeting with the fake vaccines.

    Are we really supposed to believe that under 40’s who have declined the jab and don’t wear masks are all running out to get PCR tests?

    The propaganda is getting more desperate.

    https://off-guardian.org/2021/07/05/new-normal-newspeak-1-herd-immunity/

    https://hellboundanddown232344393.files.wordpress.com/2021/06/dc8f7ccce20ffa8a.png

  30. StarvingLion says:

    ******* EMERGENCY WARNING ********

    GET OUT OF STOCKS

    THE MARKET WILL TANK RIGHT AFTER THE ROBINHOOD IPO

    Look at this post on Steven van Metre’s youtube channel just 1 hour ago.

    Player Zero
    1 hour ago (edited)
    The liquidty is leaving. It went for the exits through the last few weeks. Retail is about to get caught holding the bag. Volume is drying up in many sectors. The big gainers like meme stocks and crypto have been getting hammered, even commodities lost their speculative gains and have become more volatile. It’s in decay now and it’s just a matter of time before these trends break and it comes screaming down. Margin debt is almost a trillion and that just the leverage being reported to FINRA. It’s going to be an avalanche of margin calls real soon.

    I doubled down on my short positions, I think the next few weeks will be very telling.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      You may be right! The bubble is already starting to fail.

  31. Fast Eddy says:

    There is no asymptomatic transmission – Hancock… and more

    https://www.bitchute.com/video/rlmFmwmXXldC/

  32. StarvingLion says:

    ******* EMERGENCY WARNING ********

    I now have irrefutable evidence of the almost exact date of the planned “Cyber Scamdemic”. It will be right after Windows 11 is released in Oct 2021.

    I am privy to a Supply chain black swan event that will occur before September 2021 is over
    Tractor truck dealerships are filling up with trucks they cannot fix…

    Please protect your wealth by shorting the stock market before the end of September. A colossal CRASH is guaranteed.

    Windows 11 release date sounds like it’ll be sooner than we first thought

    Microsoft’s Windows 11 public beta will be here any day now, with the full release happening at some point later this year.

    https://www.cnet.com/tech/computing/windows-11-release-date-sounds-like-itll-be-sooner-than-we-first-thought/

    July 3, 2021 4:30 a.m. PT

    Nearly six years on from the release of Windows 10, Microsoft has finally unveiled the Windows 11 operating system, featuring a cleaner, more Mac-like design and a bunch of new features. Windows 11 will be available as a free download for existing Windows users during the 2021 holiday season, according to a Microsoft blog post published after the virtual announcement event. However, new clues suggest that the update may actually arrive earlier. (Here’s how to download Windows 11 once it’s available, and everything you need to know about Windows 11.)

    The free upgrade will begin to roll out to eligible Windows 10 PCs around the holidays (which would suggest November or December), and will continue into 2022, the post said. No specific date was announced. But it appears that Microsoft and laptop retailers may be hinting at an earlier release time: October.

    • StarvingLion says:

      Beginning in Oct 2021, they will try to STARVE you…

      1. Better have dehydrated food and plenty of bottled water
      2. Turn your home into a fortress (Best offence is a good defence)
      3. Diesel generator and good diesel (they ruined it all with bio?)
      4. Low power tablet computers (Galaxy)
      5. Download everything from the net to be read offline

      DIE OFF could take 3 years.

      • For survival.. We went with Auguson Farms and Mountain House as well as the usual suggestions for a variety of dried veggies, canned meats and freeze dried foods that offer complete proteins as well as shelf stable syrups, drink mixes, seasonings and spices and heirloom seeds. Plan to survive at least until the next growing season and build your food surplus around seasoning the stored and fresh garden food. Don’t forget snacks, sweets and leisure activity like games, puzzles and books. Add sturdy hand tools, water purifiers, pre-filters and have lots of buckets and containers, tarps and ties, hand crank veggie/fruit strainer and grain grinder and low watt items like instantpot, tool battery chargers and heated blankets you can run off a 1500-2000 watt portable solar generator and you can make a go if it. Sok batteries are affordable and have low temp charge cut off for protection if you want to DIY Solar. Get a couple 20-30lb propane tanks, a 9,000 btu Mr. Heater Portable Buddy and buy the suggested adapter hose you can comnect from the 1lb port out the window to a 20lb tank for emergency heat. Heater runs 100+ hours on low setting per 20lb tank. For northern climates stock up on 0 deg sleeping bags, long johns and create living areas in basement or rooms with fireplace or passive solar, plastic off rooms to conserve heat or put up tents for sleeping together. Buy a couple hundred UV resistant sand bags, 6 mil+ UV plastic and PVC + fittings or 1″x wood to create a cold frame greenhouse, cold storage or bunker to protect entryways. We rotate our stock and donate to the local food bank every few months. Stick together. Be courageous, show mercy. God speed!

        • Fast Eddy says:

          And you don’t think all the bad people out there are going to find you … steal your snacks… bash your face in … rape your women … and roast your children over a fire?

          You might want to familiarize yourself with what your future looks like (only worse of course because there will be no food at all… no electricity etc…)

          https://www.quora.com/What-would-the-world-be-like-if-society-collapsed

          But hey — if it keeps you sane to think like this … keep on chugging.

          • Thanks for the reality check. I admit this plan only works in a short disruption. Yah, a global collapse won’t be survivable for most. You crossed the line when you suggested that someone might steal our snacks. Everything else you lay out in your posts sounds legit.

    • Malcopian says:

      Windows 11. Maybe that’s why we had to go to the doctor’s to get upgraded with our jabs. Perhaps we’re all just androids.

      Think of the different visual defaults that MS and the Mac used to use. Square corners for MS, rounded corners for the Mac. Until MS began to copy the rounded look. I still prefer the ‘Classic Windows’ look on my PC. This reminds me of when I asked a friend to hand me a yellow cup on his table. He got very annoyed and told me it was a green cup, and that he would never buy a yellow cup. Years later I read about qualia, and of course some people are colour blind. Then again, bees apparently see colours very differently from humans. And actually, there is no colour in the universe – just different wavelengths of light.

      Given all that, I am coming to think that reality is indeed just all information, just data, that we process in our own ways. Who is that scientist again who thinks he has found proof that reality is just a hologram, projected from the edge of the universe? So even if we are physically real, we are merely two-dimensional but don’t realise it. I’m quite sad to think I’m just the equivalent of a stick man.

      I’ve been reading Bernardo Kastrup recently, e.g. ‘Why materialism is baloney’ and thinking, yes, he’s got it – or most of it. That’s philosophical materialism, BTW, not the spending and loving money thing.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      Only Macintosh for me. No Windows 11 operating system.

  33. Yoshua says:

    Euro 2020 England vs. Italy

    The last time they met in the finals was 100 years ago. After the first half England sat down on the misty field and had some gin and cigarettes…and then turned the the game around and won the world championship for the first and last time.

    It’s time again!

  34. I don’t want to get a covid vaccine and will hold out as long as possible. I don’t trust the reported science. But I don’t think it is a nefarious plan to directly exterminate us.

    About the theory of the vaccine being the CEP, does medical science have the technology to pull this off? That’s the question I keep thinking about and I am a retired RN who has seen lots of medical treatments and drugs that seem workable and safe, but it turns out they are not. Viox jumps to mind.

    I don’t think the Elders would risk something like what’s being suggested like delayed infertility effects, extreme sensitivity to other viruses, and other stuff, as it could come back in weird ways to haunt them.

    Sure, work could have been going on in labs we don’t know about, I wouldn’t put it past them, but It seems like too much of a leap to imagine they succeeded.

    The human body and especially the immune system is so poorly understood. We have known about autoimmune diseases for many decades and still don’t really know much at all.

    What they are doing is just getting us used to being told what to do and to establish a very clear relationship of them being in charge of EVERYTHING.

    To exterminate huge numbers of us if that’s what they want to do they need only to withdraw electricity and food from select areas and we will do the extermination for them. They don’t need any medical high technology stuff for select population reductions.

    The vehemence and insistence of the narrative that us all be vaccinated, I think is just using one more way to divide us and dilute whatever strength of resistance might be summoned against the increasing government control of us.

    My two cents anyway.

    • Fast Eddy says:

      We already do everything we are told… that’s the job of the MSM…. and now social media.

      e.g. Americans continue to vote… because they are told they have democracy hahahahaha…

      There are multiple experts who are feeding me ammo for the CEP:

      Here is a career vaccine developer explaining https://www.geertvandenbossche.org/post/why-the-ongoing-mass-vaccination-experiment-drives-a-rapid-evolutionary-response-of-sars-cov-2

      Byram Bridle indicates he supports the conclusion …

      And then the Big Dog… Luc Montagnier Nobel Prize Winning Virologist states 1. the virus is definitely man-made and 2. deploying a leaky vaccine during a pandemic is ‘unthinkable’

      The thing is … although I respect that you are a RN…. even a GP would not have the knowledge that any of these men possess… they are ultra specialists in a single branch of medicine….

      Very capable men all of them (and they say many others support them but refuse to speak out)… but none of them have the Horse Power of Fast Eddy…. so they cannot connect the dots and work out The Big Picture.

      Fast Eddy is aware that total oil production peaked in 2019… and that the economy was on the precipice of total collapse….

      The Elders were pushing on a string … out of ammo … so they called in the Nuclear Option … the CEP.

      Nothing else makes sense.

      Peak Oil = total collapse … TO-TAL… no reset is possible… industrial civilization is not possible at any level – de-growth can be maintained for a short period (as we are seeing) but it ultimately leads to total collapse … violence – disease – rape – cannibalism…. that is GUARANTEED.

      Again – the Elders have exhausted all options … they’ve fought hard and smart and long … but they have lost the battle.

      Yes I know .. it sucks .. especially if you have kids … but it’s the only good option the Elders have.

      Maybe you could get religion if you have not already — you could put your eggs into the afterlife basket… it’s worked for billions for centuries…

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        Oil production peaked in 2018, not 2019. We are further downhill than you expected.

    • Artleads says:

      A very good two cents, IMO.

      • Artleads says:

        But the way in which the majority are being controlled with messaging from “authority” suggests a good deal of central planning. Even when the messaging is pathetically confused people have been programmed to believe that it makes sense.

  35. Yoshua says:

    England makes it to the Finals!

  36. Erdles says:

    Well done to England in getting to the final of the Euros 2021 tournament. Thank goodness one of the UK nations can play football.

    • But can they play like Italy? It took them nearly 2 hours to score against Denmark. Spain were as dominant as you like last night and Italy still took them. The final could be embarrassing for England.

      • Malcopian says:

        I was inspired to write a beautiful poem about the game:

        “Burn all the football fans and put them to death
        Then they will breathe their very last breath”.

        Lol. Do I get to be poet laureate?

        After all, what’s the big deal about watching a bunch of grown men chase a ball back and forwards across a field? Only dogs should be interested in such boring nonsense.

        • JMS says:

          Nonsense! It’s not just a bunch of grown men chasing a ball back and forwards, it’s the representatives of your city (club) or your nation (national team) in a non-bloody contest with the boys from the neighboring cities or nations. In that sense, it’s deeply tribal and emotional.
          Personally, I associate football with my childhood and adolescence, when the radio report of my club’s games on Sunday afternoon was one of the highlights of the week. Damn, how I suffered and prayed!
          It’s a childish and escapist show, of course, as most of human endeavours btw, but quite an harmless distraction I think, besides somewhat comforting (and cheapest as that, mind, than most drugs!).
          So I continue to follow with some attention the results of my team: the extraordinary and supreme best football club in the world ever ever, the glorious and unsurpassable FC Porto!!

          • DJ says:

            Except few of the players come from the city their representing. Or the country. And it is not too uncommon moving the whole club to another city.

            Basically youre rooting for a set of clothes.

          • Fast Eddy says:

            What I find ridiculous ….is grown men asking for autographs… putting on jerseys and acting as if their lives depended on a victory…. how infantile is that!

            Here in NZ the men have a tradition of beating the sh it out of their wives if their side loses…

            It’s a game… it’s not as if it’s the CEP or something …

            I’ve been trying to find a free broadcast of the Euro — the free to air guys are onto the VPN gig so that’s not working …. I’d pay to view but football is in the dark ages and does not offer such a thing.

        • Xabier says:

          My dog, Sir Sancho Panza, would not deign to chase a ball, he leaves that to mongrel mutts.

          Only pheasants, deer and rabbits for him. Turns up his nose at pigeons, too.

          • JMS says:

            Aristocrats, bah! My dog’s favorite play is chasing footballs and punching them. Needless to say, he is a 100% plebeian mongrel, like his master.

    • England clearly cheated with the help of the match staff to win last night.

      The penalty:

      1. There was a second ball on the pitch, and play must then be halted immediately. That is the rule. In fact the second ball was directly in the area of play.

      There is no way that the ref, linesmen and VAR staff all missed that. The penalty decision was reviewed on VAR (video) and the second ball was unmissable.

      2. It was clearly a dive. The entire world knows that. The England player should have himself been penalised. There is no way that the ref and VAR were unaware of that.

      3. A laser pen was shone into the eyes of the Danish goalkeeper from somewhere in the grounds while the penalty was taken.

      The FA must do the decent thing and either agree to a replay or allow Denmark to take their place in the final. The match staff must also be subject to a tribunal.

      • Malcopian says:

        Nah, they should let England off, just like they exonerated lying Nicola. Aye, Nicola is a Boris and Boris is a Nicola. Such are the politicians we have in Britland these days. 🙁

        • “Punishment is the wages of sin.”

          England shamelessly cheated its way into the final, and the only good that can now come of that is the just and righteous punishment of England in the final.

          All decent folk the entire world over will crave an Italian victory on Sunday, and the just deserts of a thoroughly dressed down England FA.

          Jesus himself will don an Italy scarf come this righteous day of judgement. And mighty shall the humiliation be! : )

          > Then the earth shook and trembled; the foundations also of the hills moved and were shaken, because he was wroth.
          There went up a smoke out of his nostrils, and fire out of his mouth devoured: coals were kindled by it.
          He bowed the heavens also, and came down: and darkness was under his feet.
          And he rode upon a cherub, and did fly: yea, he did fly upon the wings of the wind.
          He made darkness his secret place; his pavilion round about him were dark waters and thick clouds of the skies.
          At the brightness that was before him his thick clouds passed, hail stones and coals of fire.
          The LORD also thundered in the heavens, and the Highest gave his voice; hail stones and coals of fire.
          Yea, he sent out his arrows, and scattered them; and he shot out lightnings, and discomfited them.
          Then the channels of waters were seen, and the foundations of the world were discovered at thy rebuke, O LORD, at the blast of the breath of thy nostrils.

  37. StarvingLion says:

    The CrackRock CRIMINALS have LOOTED america blind so they are moving on…

    https://seekingalpha.com/news/3713427-blackrock-upgrades-european-stocks-to-overweight-cuts-us-equities-to-neutral
    .
    BlackRock turns bullish on European equities as “the very powerful restart is broadening out,” Global Chief Investment Strategist Wei Li says in a briefing.
    .
    According to BlackRock’s global outlook report, for the next 6-12 months, BlackRock cuts U.S. equities to Neutral, upgrades Japanese stocks to Neutral, and upgrades European stocks and inflation-linked bonds to Overweight.
    Li notes that U.S. equities have seen “peak growth acceleration”, while Europe and Japan “catch up” to the U.S.
    .
    “The path for the U.S. equity market to continue pushing higher has become narrower,” Li says.
    BlackRock expects inflation to rise for the next few years, resulting in “a much more muted policy response” from the Fed, which will keep real rates low/negative “for some time,” says BlackRock’s Investment Institute Head Jean Boivin.
    .
    According to the chart below, on a Y/Y basis the total return for the Vanguard FTSE Europe ETF (NYSEARCA:VGK) (+32.9%) lags the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) (+38.5%).

    • StarvingLion says:

      The fool named Wolf Richter (wolfstreet.com) is going to be shitting his pants when america’s grid goes down in December 2021 and starvation ensues.

      He won’t be crowing about ‘reserve currency of the US $ is impossible to remove’ when that happens.

      He sits there obsessed with technicalities of money and the obvious dubious accuracy of data oblivious to how real world events can change everything overnight.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      I suppose these recommendations are based on which country is likely to be able to add more debt in the near term.

  38. StarvingLion says:

    Does Gail have her WAR Helmut on yet because a MASSIVE EXPLOSION has just gone off…It could be a tanker or it could be a container ship or both.

    Massive Blast Rips Through Dubai’s Main Port – Container Ship On Fire

    https://www.zerohedge.com/geopolitical/massive-blast-rips-through-dubais-main-port-reports-container-ship-fire

    update(4:55pm): Naturally, anytime there’s a major blast at a central Persian Gulf port, the immediate questions raised include accident or sabotage? This also given the past ‘tanker wars’ between Iran and the US-Saudi-Israel nexus.

    Very quickly in the aftermath, speculation and various theories including that it could have been an Iran tanker angle abounded; however, the source of the blaze does appear to be a container ship docked at the port…

    • StarvingLion says:

      “A large ship has exploded while docked in the Jebel Ali port in Dubai.

      Initial reports claim the vessel is an Iranian ship.

      No word yet on what may have caused the explosion as much of the port is ablaze at this hour 4:12 PM eastern US time.

      Word from my former colleagues in the Intel community: “This is not an accident.”

      Details as they become available.”

      https://halturnerradioshow.com/index.php/en/news-page/world/ship-explosion-at-dock-in-port-of-dubai

      • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
        Gail Tverberg says:

        Oh, dear! When there is not enough to go around (prices are too low for oil producers), the fighting seems to begin.

  39. StarvingLion says:

    Here is photo of the “transparency” of Jacinda the Witch Fake Government in her COMMIE NZ SHITHOLE

    https://waikanaewatch.files.wordpress.com/2021/07/transperancy-not.jpg

  40. NomadicBeer says:

    Gail et al.,
    what do you think about this:

    “But starting in January and now accelerating at a near-vertical rate is that disability number. To put not too fine a point on it 2.7 million people have become disabled over the last six months. This is a statistic that always has ups and downs, as you can see from the chart, but this one-way move and its accelerating velocity and magnitude ought to make the hair on the back of your neck stand up, particularly when you think about what we started doing in January of 2021.”
    https://market-ticker.org/akcs-www?post=242844
    (Thanks to Ighy on ecosophia.net!)

    • NomadicBeer says:

      I think the change is related to an ongoing economic crisis, not the vax.
      When I go to the source (https://beta.bls.gov/dataViewer/view/timeseries/LNU01374597) and compare all the way back to 2008, I can see the numbers of the disabled was even higher (and also fast rising).
      My guess is this is one way to fudge the employment numbers – allow more people on the group of the disabled when the economy is bad.

    • Gail Tverberg – My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
      Gail Tverberg says:

      I agree that it is the middle level workers who are having a terrible time finding jobs. I expect some moms are staying home with the kids; some single men are tqking to drinking more than before. Perhaps that is part of what underlies the strange numbers.

Comments are closed.