Is the debt bubble supporting the world economy in danger of collapsing?

The years between 1981 and 2020 were very special years for the world economy because interest rates were generally falling:

Figure 1. Yields on 10-year and 3-month US Treasuries, in a chart made by the Federal Reserve of St. Louis, as of May 10, 2022.

In some sense, falling interest rates meant that debt was becoming increasingly affordable. The monthly out-of-pocket expense for a new $500,000 mortgage was falling lower and lower. Automobile payments for a new $30,000 vehicle could more easily be accommodated into a person’s budget. A business would find it more affordable to add $5,000,000 in new debt to open at an additional location. With these beneficial effects, it would be no surprise if a debt bubble were to form.

With an ever-lower cost of debt, the economy has had a hidden tailwind pushing it long between 1981 to 2020. Now that interest rates are again rising, the danger is that a substantial portion of this debt bubble may collapse. My concern is that the economy may be heading for an incredibly hard landing because of the inter-relationship between interest rates and energy prices (Figure 2), and the important role energy plays in powering the economy.

Figure 2. Chart showing the important role Quantitative Easing (QE) to lower interest rates plays in adjusting the level of “demand” (and thus the selling price) for oil. Lower interest rates make goods and services created with higher-priced oil more affordable. In addition to the items noted on the chart, US QE3 was discontinued in 2014, about the time of the 2014 oil price crash. Also, the debt bubble crash of 2008 seems to be the indirect result of the US raising short term interest rates (Figure 1) in the 2004 to 2007 period.

In this post, I will try to explain my concerns.

[1] Ever since civilization began, a combination of (a) energy consumption and (b) debt has been required to power the economy.

Under the laws of physics, energy is required to power the economy. This happens because it takes the “dissipation” of energy to perform any activity that contributes to GDP. The energy dissipated can be the food energy that a person eats, or it can be wood or coal or another material burned to provide energy. Sometimes the energy dissipated is in the form of electricity. Looking back, we can see the close relationship between total energy consumption and world total GDP.

Figure 3. World energy consumption for the period 1990 to 2020, based on energy data from BP’s 2021 Statistical Review of World Energy and world Purchasing Power Parity GDP in 2017 International Dollars, as published by the World Bank.

The need for debt or some other approach that acts as a funding mechanism for capital expenditures (sale of shares of stock, for example), comes from the fact that humans make investments that will not produce a return for many years. For example, ever since civilization began, people have been planting crops. In some cases, there is a delay of a few months before a crop is produced; in other cases, such as with fruit or nut trees, there can be a delay of years before the investment pays back. Even the purchase by an individual of a home or a vehicle is, in a sense, an investment that will offer a return over a period of years.

With all parts of the economy benefiting from the lower interest rates (except, perhaps, banks and others lending the funds, who are making less profit from the lower interest rates), it is easy to see why lower interest rates would tend to stimulate new investment and drive up demand for commodities.

Commodities are used in great quantity, but the supply available at any one time is tiny by comparison. A sudden increase in demand will tend to send the commodity price higher because the quantity of the commodity available will need to be rationed among more would-be purchasers. A sudden decrease in the demand for a commodity (for example, crude oil, or wheat) will tend to send prices lower. Therefore, we see the strange sharp corners in Figure 2 that seem to be related to changing debt levels and higher or lower interest rates.

[2] The current plan of central banks is to raise interest rates aggressively. My concern is that this approach will leave commodity prices too low for producers. They will be tempted to decrease or stop production.

Politicians are concerned about the price of food and fuel being too high for consumers. Lenders are concerned about interest rates being too low to properly compensate for the loss of value of their investments due to inflation. The plan, which is already being implemented in the United States, is to raise interest rates and to significantly reverse Quantitative Easing (QE). Some people call the latter Quantitative Tightening (QT).

The concern that I have is that aggressively raising interest rates and reversing QE will lead to commodity prices that are too low for producers. There are likely to be many other impacts as well, such as the following:

  • Lower energy supply, due to cutbacks in production and lack of new investment
  • Lower food supply, due to inadequate fertilizer and broken supply lines
  • Much defaulting of debt
  • Pension plans that reduce or stop payments because of debt-related problems
  • Falling prices of stock
  • Defaults on derivatives

[3] My analysis shows how important increased energy consumption has been to economic growth over the last 200 years. Energy consumption per capita has been growing during this entire period, except during times of serious economic distress.

Figure 4. World energy consumption from 1820-2010, based on data from Appendix A of Vaclav Smil’s Energy Transitions: History, Requirements and Prospects and BP Statistical Review of World Energy for 1965 and subsequent. Wind and solar energy are included in “Biofuels.”

Figure 4 shows the amazing growth in world energy consumption between 1820 and 2010. In the early part of the period, the energy used was mostly wood burned as fuel. In some parts of the world, animal dung was also used as fuel. Gradually, other fuels were added to the mix.

Figure 5. Estimated average annual increase in world energy consumption over 10-year periods using the data underlying Figure 4, plus similar additional data through 2020.

Figure 5 takes the same information shown in Figure 4 and calculates the average approximate annual increase in world energy consumption over 10-year periods. A person can see from this chart that the periods from 1951-1960 and from 1961-1970 were outliers on the high side. This was the time of rebuilding after World War II. Many families were able to own a car for the first time. The US highway interstate system was begun. Many pipelines and electricity transmission lines were built. This building continued into the 1971-1980 period.

Figure 6. Same chart as Figure 5, except that the portion of economic growth that was devoted to population growth is shown in blue at the bottom of each 10-year period. The amount of growth in energy consumption “left over” for improvement in the standard of living is shown in red.

Figure 6 displays the same information as Figure 5, except that each column is divided into two pieces. The lower (blue) portion represents the average annual growth in population during each period. The part left over at the top (in red) represents the growth in energy consumption that was available for increases in standard of living.

Figure 7. The same information displayed in Figure 6, displayed as an area chart. Blue areas represent average annual population growth percentages during these 10-year periods. The red area is determined by subtraction. It represents the amount of energy consumption growth that is “left over” for growth in the standard of living. Captions show distressing events during periods of low increases in the portion available to raise standards of living.

Figure 7 shows the same information as Figure 6, displayed as an area chart. I have also shown some of the distressing events that happened when growth in population was, in effect, taking up essentially all of energy consumption growth. The world economy could not grow normally. There was a tendency toward conflict. Unusual events would happen during these periods, including the collapse of the central government of the Soviet Union and the restrictions associated with the COVID pandemic.

The economy is a self-organizing system that behaves strangely when there is not enough inexpensive energy of the right types available to the system. Wars tend to start. Layers of government may disappear. Strange lockdowns may occur, such as the current restrictions in China.

[4] The energy situation at the time of rising interest rates in the 1960 to 1980 period was very different from today.

If we define years with high inflation rates as those with inflation rates of 5% or higher, Figure 8 shows that the period with high US inflation rates included nearly all the years from 1969 through 1982. Using a 5% inflation cutoff, the year 2021 would not qualify as a high inflation rate year.

Figure 8. US inflation rates, based on Table 1.1.4 Price Index for Gross Domestic Product, published by the US Bureau of Economic Analysis.

It is only when we look at annualized quarterly data that inflation rates start spiking to high levels. Inflation rates have been above 5% in each of the four quarters ended 2022-Q1. Trade problems related to the Ukraine Conflict have tended to add to price pressures recently.

Figure 9. US inflation rates, based on Table 1.1.4 Price Index for Gross Domestic Product, published by the US Bureau of Economic Analysis.

Underlying these price spikes are increases in the prices of many commodities. Some of this represents a bounce back from artificially low prices that began in late 2014, probably related to the discontinuation of US QE3 (See Figure 2). These prices were far too low for producers. Coal and natural gas prices have also needed to rise, as a result of depletion and prior low prices. Food prices are also rising rapidly, since food is grown and transported using considerable quantities of fossil fuels.

The main differences between that period leading up to 1980 and now are the following:

[a] The big problem in the 1970s was spiking crude oil prices. Now, our problems seem to be spiking crude oil, natural gas and coal prices. In fact, nuclear power may also be a problem because a significant portion of uranium processing is performed in Russia. Thus, we now seem to be verging on losing nearly all our energy supplies to conflict or high prices!

[b] In the 1970s, there were many solutions to the crude oil problem, which were easily implemented. Electricity production could be switched from crude oil to coal or nuclear, with little problem, apart from building the new infrastructure. US cars were very large and fuel inefficient in the early 1970s. These could be replaced with smaller, more fuel-efficient vehicles that were already being manufactured in Europe and Japan. Home heating could be transferred to natural gas or propane, to save crude oil for places where energy density was really needed.

Today, we are told that a transition to green energy is a solution. Unfortunately, this is mostly wishful thinking. At best, a transition to green energy will need a huge investment of fossil fuels (which are increasingly unavailable) over a period of at least 30 to 50 years if it is to be successful. See my article, Limits to Green Energy Are Becoming Much Clearer. Vaclav Smil, in his book Energy Transitions: History, Requirements and Prospects, discusses the need for very long transitions because energy supply needs to match the devices using it. Furthermore, new energy types are generally only add-ons to other supply, not replacements for those supplies.

[c] The types of economic growth in (a) the 1960 to 1980 period and (b) the period since 2008 are very different. In the earlier of these periods (especially prior to 1973), it was easy to extract oil, coal and natural gas inexpensively. Inflation-adjusted oil prices of less than $20 per barrel were typical. An ever-increasing supply of this oil seemed to be available. New machines (created with fossil fuels) made workers increasingly efficient. The economy tended to “overheat” if interest rates were not repeatedly raised (Figure 1). While higher interest rates could be expected to slow the economy, this was of little concern because rapid growth seemed to be inevitable. The supply of finished goods and services made by the economy was growing rapidly, even with headwinds from the higher interest rates.

On the other hand, in the 2008 to 2020 period, economic growth is largely the result of financial manipulation. The system has been flooded with increasing amounts of debt at ever lower interest rates. By the time of the lockdowns of 2020, would-be workers were being paid for doing nothing. World production of finished goods and services declined in 2020, and it has had difficulty rising since. In the first quarter of 2022, the US economy contracted by -1.4%. If headwinds from higher interest rates and QT are added, the economic system is likely to encounter substantial debt defaults and increasing breakdowns of supply lines.

[5] Today’s spiking energy prices appear to be much more closely related to the problems of the 1913 to 1945 era than they are to the problems of the late 1970s.

Looking back at Figure 7, our current period is more like the period between the two world wars than the period in the 1970s that we often associate with high inflation. In both periods, the “red” portion of the chart (the portion I identify with rising standard of living), has pretty much disappeared. In both the 1913 to 1945 period and today, it is nearly all the energy supplies other than biofuels that are disappearing.

In the 1913 to 1945 period, the problem was coal. Mines were becoming increasingly depleted, but raising coal prices to pay for the higher cost of extracting coal from depleted mines tended to make the coal prohibitively expensive. Mine operators tried to reduce wages, but this was not a solution either. Fighting broke out among countries, almost certainly related to inadequate coal supplies. Countries wanted coal to supply to their citizens so that industry could continue, and so that citizens could continue heating their homes.

Figure 10. Slide prepared by Gail Tverberg showing peak coal estimates for the UK and for Germany.

As stated at the beginning of this section, today’s problem is that nearly all our energy supplies are becoming unaffordable. In some sense, wind and solar may look better, but this is because of mandates and subsidies. They are not suitable for operating the world economy within any reasonable time frame.

There are other parallels to the 1913 to 1945 period. One of the big problems of the 1930s was prices that would not rise high enough for farmers to make a profit. Oil prices in the United States were extraordinarily low then. BP 2021 Statistical Review of World Energy reports that the average oil price in 1931, in 2020 US$, was $11.08. This is the lowest inflation-adjusted price of any year back to 1865. Such a price was almost certainly too low for producers to make a profit. Low prices, relative to rising costs, have recently been problems for both farmers and oil producers.

Another major problem of the 1930s was huge income disparity. Wide income disparity is again an issue today, thanks to increased specialization. Competition with unskilled workers in low wage countries is also an issue.

It is important to note that the big problem of the 1930s was deflation rather than inflation, as the debt bubble started popping in 1929.

[6] If a person looks only at the outcome of raising interest rates in the 1960s to 1980 timeframe, it is easy to get a misleading idea of the impact of increased interest rates now.

If people look only at what happened in the 1980s, the longer-term impact of the spike in interest rates doesn’t seem too severe. The world economy was growing well before the interest rates were raised. After the peak in interest rates, the world economy generally continued to grow. As a result of the high oil prices and the spiking interest rates, the world hastened its transition to using a bit less crude oil per person.

Figure 11. Per capita crude oil production from 1973 through 2021. Crude oil amounts are from international statistics of the US Energy Information Administration. Population estimates are from UN 2019 population estimates. The low population growth projection from the UN data is used for 2021.

At the same time, the world economy was able to expand the use of other energy products, at least through 2018.

Figure 12. World per capita total energy supply based on data from BP’s 2021 Statistical Review of World Energy. World per capita crude oil is based on international data of the EIA, together with UN 2019 population estimates. Note that crude oil data is through 2021, but total energy amounts are only through 2020.

Since 2019, our problem has been that the total energy supply has not been keeping up with the rising population. The cost of extraction of all kinds of oil, coal and natural gas keeps rising due to depletion, but the ability of customers to afford the higher prices of finished goods and services made with those energy products does not rise to match these higher costs. Energy prices probably would have spiked in 2020 if it were not for COVID-related restrictions. Production of oil, coal and natural gas has not been able to rise sufficiently after the lockdowns for economies to fully re-open. This is the primary reason for the recent spiking of energy prices.

Turning to inflation rates, the relationship between higher interest rates (Figure 1) and annual inflation rates (Figure 8) is surprisingly not very close. Inflation rates rose during the 1960 to 1973 period despite rising interest rates, mostly likely because of the rapid growth of the economy from an increased per-capita supply of inexpensive energy.

Figure 8 shows that inflation rates did not come down immediately after interest rates were raised to a high level in 1980, either. There was a decline in the inflation rate to 4% in 1983, but it was not until the collapse of the central government of the Soviet Union in 1991 that inflation rates have tended to stay close to 2% per year.

[7] A more relevant recent example with respect to the expected impact of rising interest rates is the impact of the increase in US short-term interest rates in the 2004 to 2007 period. This led to the subprime debt collapse in the US, associated with the Great Recession of 2008-2009.

Looking back at Figure 1, one can see the effect of raising short-term interest rates in the 2004 to 2007 era. This eventually led to the Great Recession of 2008-2009. I wrote about this in my academic paper, Oil Supply Limits and the Continuing Financial Crisis, published in the journal Energy in 2010.

The situation we are facing today is much more severe than in 2008. The debt bubble is much larger. The shortage of energy products has spread beyond oil to coal and natural gas, as well. The idea of raising interest rates today is very much like going into the Great Depression and deciding to raise interest rates because bankers don’t feel like they are getting an adequate share of the goods and services produced by the economy. If there really aren’t enough goods and services for everyone, giving lenders a larger share of the total supply cannot work out well.

[8] The problems we are encountering have been hidden for many years by an outdated understanding of how the economy operates.

Because of the physics of the economy, it behaves very differently than most people assume. People almost invariably assume that all aspects of the economy can “stay together” regardless of whether there are shortages of energy or of other products. People also assume that shortages will be immediately become obvious through high prices, without realizing the huge role interest rates and debt levels play. People further assume that these spiking prices will somehow bring about greater supply, and the whole system will go on as before. Furthermore, they expect that whatever resources are in the ground, which we have the technical capability to extract, can be extracted.

It is important to note that prices are not necessarily a good indicator of shortages. Just as a fever can have many causes, high prices can have many causes.

The economy can only continue as long as all of its important parts continue. We cannot assume that reported reserves of anything can really be extracted, even if the reserves have been audited by a reliable auditor. What actually can be extracted depends on prices staying high enough to generate funds for additional investment as required. The amount that can be extracted also depends on the continuation of international supply lines providing goods such as steel pipe. The continued existence of governments that can keep order in the areas where extraction is to take place is important, as well.

What we should be most concerned about is a very rapidly shrinking economic system that cannot accommodate very many people. It seems that such a situation might occur if the debt bubble is popped and too many supply lines are broken. There may be a time lag between when interest rates are raised and when the adverse impacts on the economy are seen. This is a reason why central bankers should be very cautious about the increases in interest rates they make as well as QT. The situation may turn out much worse than planned!

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.
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4,216 Responses to Is the debt bubble supporting the world economy in danger of collapsing?

  1. The Singularity is marketed as a future outcome which contemporary resources and effort will iteratively manifest.

    The problem with this hypothesis is that it presents the swagger of having a probability of 1. Falsifying this hypothesis is where the treasure is found.
    Negation #1. Contemporary resources and efforts will never manifest the Singularity.
    Negation #2. The Singularity was reached long ago and contemporary resources and effort reinventing it are busywork.

    The first negation is hard to defend because one would have to prove the existence of a limit on positivism. Generally speaking, Limits to Growth is an effective solvent for a class of hypotheses, but attacking the Singularity in this manner is a fool’s errand. However, the second negation, is tractable. For the second negation, the Singularity could be provisionally defined as the Computational Behaviour of Matter and civilization desires to direct Computational Behaviour and Matter on its own terms. By extension, the second negation creates the conceivability that those, for whom the Singularity is a known-known, would prefer the Singularity be understood as always “coming soon”.

    Negation #2 seems to be the fruitful hypothesis. Its components are falsifiable in numerous ways and therefore more theorems can be unearthed when compared to the Original Swagger.

    By way of metaphor, current and colonial events give Negation #2 correspondence. A Singularity-as-Globalism is witnessed in its breakdown, of which is what our hostess speaks. A global materialist trade and control system built on limitless resources and limitless narrative encoding has been found to have no internal hypothesis space to revert methods, revert knowledge and revert memory. I submit, at least in this correspondence, the Singularity already exists and it a mature, iterated and invented technology. The work is to prove to others whether the correspondence of a Singularity-as-Globalism satisfies the necessary existence of the Singularity as marketed. (Heavens, not here, and likely I have not the spare lifetime to make the attempt.)

    Inside the correspondence, the Programmers have erred because one simply cannot positively reinforce privation with treats. The Programmers have been “evidence based” and forgot to encode the lived experience of Mother Eve. That is, the Programmers cannot positively reinforce something as “absolutely wrong” – that is, they cannot model a valid hypothesis of permanent probability zero. (Genesis: Do not eat of the Tree…) The Programmers are likely to optimize this permanently zero hypothesis from 1) hypothesis testing or 2) model inclusion by excluding the permanently zero hypothesis from symbolic and/or numeric computation. And as a long-term consequence any former permanently zero hypothesis is free to be naively re-discovered with non-zero probability. (Genesis: You will not die…) Again giving props to our hostess, and in what I think would be her words, the dissipative structuring of this Singularity-as-Globalism means expunged decision trees cannot be naively re-inserted.

    So I would put forth that instead of looking at 8 billion people in trouble, one could see that the Singularity (even its Ideal) is having a brutal introduction to Natural Selection. And instead the future is written by those humans capable of living without participating in the sacrifices of All Life on Earth to the Singularity and its Ideal.

    • 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 there is any kind of singularity, I expect that it will come many, many years in the future, after the climate has remarkably changed and what are now humans have evolved remarkably. Coal and other fossil fuels that are now hidden by oceans may become accessible at low cost. Many other things may change. The viruses that humans encounter are likely to be instrumental in these changes, as will be the radiation effect of the both spent fuel pools and nuclear bombs. There won’t be many humans that make it through the bottleneck to this strange outcome.

      How the singularity manifests itself will no doubt be very different from what science fiction writers have imagined.

  2. Fast Eddy says:

    “America’s great cities are gripped by decline and disorder” – Joel Kotkin writes in Spiked that voters have had enough of ‘progressive’ leaders who are presiding over spiralling violence and crime.

    https://www.spiked-online.com/2022/06/05/americas-great-cities-are-gripped-by-decline-and-disorder/

    Expected given BAU is collapsing

    • JP says:

      Since the 80s and 90s its been Red Blue ping pong, to the extent Red and Blue are actually opposing teams. Still, its hard to see any solution with conventional politics, the system is now mostly impotent at 10 to 1 EROI. Kotkin thinks some kind of turning can put Humpty Dumpty together again. Most likely the system will react with some madcap authoritarian program, no doubt killing millions, yet it too will fail in the end.

  3. Fast Eddy says:

    Whisper it quietly, but Antarctica ice is not making a comeback – because it never went away in the first place. Estimates of gains and losses vary in the scientific world, but NASA recently suggested the continent was losing 147 gigatons a year. Since there is an estimated 26,500,000 gigatons of ice lying about on the continent, this works out at an annual loss of 0.0005%. At the current ice melt it will all be gone in about 200,000 years. It might be argued that the current level of melting seems a tad on the slow side for a planet emerging from an ice age.

    https://dailysceptic.org/2022/06/05/climate-shock-antarctica-ice-to-last-only-200000-years/

    hahahahahahaha

    • eKnock says:

      I don’t know about all the academics and their instruments and models on global warming.
      I do know that back in the 1980s -1990s my blueberries got ripe in mid July.
      About 2000 they started ripening earlier until now they start ripening around the first of June.
      In the late 90s we lost the crop to late frost three out of five years. Many blueberry farmers in the ArkLaTex area of the US gave up.
      We also had a couple of acres of blackberries that had produced well every year since 1978. They bloom later so the late frost didn’t effect them but the warm days in Jan.and Feb. interrupted their dormancy and they lost vigor.
      Their production fell so much that I gave up on blackberries.
      The 3D news from the MSM……Deception,Deversion,Division…… is always there to support whatever you want to believe.
      Disagreements over gigatons of Ice….viruses that aren’t alive but you need to kill them…..Electric cars that fuel off a grid that is already overloaded……injecting God only knows what into children’s arms…. all work out when the objective is to reduce the capita in the resources per capita equation.

  4. Fast Eddy says:

    Australia now has reported the equivalent of about 125,000 American Covid deaths, and the vast majority have happened this year.

    That figure is still far lower than the United States’s total, of course. But for the first time since Covid began, Australia now has significantly more daily deaths than the United States on a per-capita basis.

    And the widespread boosters have made no difference. New South Wales reported on Thursday that 82 of the 98 people who died of Covid in the week ending May 28 were vaccinated, including 64 who had received at least one booster.

    Maybe even more stunning, of 41 people admitted to intensive care units, only two were known to be unvaccinated. (The status of 11 other patients was unknown. In the United States, all would simply be valled unvaccinated. Despite its authoritarianism, Australia is much more honest in its reporting than the Centers for Disease Control.)

    Because Australia had so little Covid before vaccinations began, it offers perhaps the clearest picture anywhere of the overall benefits and risks of widespread mRNA shots. Australians are being exposed to Covid largely after being vaccinated. The shots had plenty of time to work their magic.

    If magic is the right word.

    https://alexberenson.substack.com/p/overall-deaths-in-australia-where?s=r

    https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8e691b3-e1d9-4a89-b5d6-a8aba9859c69_1170x683.jpeg

  5. Fast Eddy says:

    Even as non-Covid deaths rise, Covid deaths have also soared in Australia this year – reaching levels far higher than they were before Australia began vaccinated.

    For much of 2020 and 2021, Australia happily traded its civil liberties for “donut days,” when it had no new reported coronavirus infections, much less deaths.

    With the arrival of the mRNA vaccines, most Australians – and Covid authoritarians everywhere – believed Australia had made the right bet. SureThey had given up a couple of years of freedom – in return for a Covid-free paradise forever.

    Australians eagerly accepted Covid vaccinations and are vaccinated at rates significantly higher than Americans. 95 percent of people 16 and over in New South Wales, the country’s largest state, have been vaccinated. 64 percent have been boosted.

    https://alexberenson.substack.com/p/overall-deaths-in-australia-where?s=r

    https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff1fe2d02-d5ee-4119-b2ac-f1a192ce0ebc_1170x1207.jpeg

  6. Fast Eddy says:

    Reports in scientific journals and in the federal VAERS database have highlighted cases of severe diabetic dysregulation following the mRNA shots. Anecdotal stories of elderly people suffering rapid mental deterioration, especially after a second or booster shot, are also common.

    https://alexberenson.substack.com/p/overall-deaths-in-australia-where?s=r

    This is why norm cannot answer most questions … ‘rapid mental deterioration’…

    If this is norm’s excuse he needs to admit it… that he is cognitively impaired… and he can go on the OFW disability pension …

    But if norm continues to insist that he is not vax damaged — the lashings … well… the lashings will continue…

    • Xabier says:

      Unfortunately, I fear that dear old Norm still has his full set of marbles – well, all those he started out with.

      He just won’t take in new and uncomfortable information that clashes with his pre-conceptions.

      And he won’t sully his mind by looking at videos which don’t pass his ‘sniff test’ ad lack official approval. Really, it’s rather sad.

      A warning to us all to stay alert and open-minded, recognising the truth wherever if appears, however marginal the source. …….

  7. Fast Eddy says:

    The thing is …

    The evidence is overwhelming … for those not in DelusiSTAN…. but still … the MOREONS cannot see it – they are not shown it – or if they are they reject it…

    This f789er is gonna blow … the MOREONS are destroying their immune systems… we don’t even need an Ebola level mutation … anything severe and contagious will be good enough to finish off the ruined bodies of these CovIDIOTS

    Think AIDS… add a V…. and multiply the severity by 1000….

    Remember they don’t all have to die at once… just lots and lots of them … so that those still alive (including the Pure Bloods) live in dread of this horrifying outcome …

    That is where starvation comes into play — actually starvation is the key killer — all else is aimed at ramping fear so that 8B do not come out of their homes and murder, rape and feast on human flesh.

    BTW – I wonder if AIDS was a dry run for this … I suspect it was an experiment.. and SARS…

    Shanghai was definitely the testing ground for the starvation module.

    Overall deaths in Australia – where nearly everyone is vaccinated – are spiking.

    It’s Monday Down Under. Get ready to start the week with frightening data.

    Add Australia to the countries seeing an unusual surge in deaths from all causes following mass mRNA shot campaigns .

    The Australian government reported on May 25 that deaths in Australia were 21 percent above normal in early 2022. Even excluding Covid deaths, deaths were more than 10 percent above normal.

    Victoria, Australia’s second-most-populated state, offers an even grimmer picture. Unlike the national government, Victoria publishes monthly death figures in near-real time. On Thursday, it reported 4,312 deaths in May, 27 percent above the average of May 2020 and 2021 – the equivalent of 45,000 extra deaths in the United States.

    The Australian death spike is particularly striking, because Australia had no excess deaths – and little Covid – in 2020 and much of 2021. Thus the usual alternative explanations cannot hold. The spike cannot be the result of delayed medical care or “long Covid” (whatever long Covid is). Australia’s weather and geography are also very different than the European countries now reporting excess deaths.

    Further, the Australian data show that most excess deaths in January and February 2022 were NOT cardiac. Deaths from cancer were slightly above average, but the biggest jumps were in deaths from diabetes and dementia, both almost 30 percent above normal.

    Reports in scientific journals and in the federal VAERS database have highlighted cases of severe diabetic dysregulation following the mRNA shots. Anecdotal stories of elderly people suffering rapid mental deterioration, especially after a second or booster shot, are also common.

    https://alexberenson.substack.com/p/overall-deaths-in-australia-where?s=r

  8. Michael Le Merchant
    Michael Le Merchant says:

    Diesel Prices Smash Another Record — And the U.S. is Now One Hurricane Away from Running Out of Diesel

    Diesel prices smashed another record Friday, with prices hitting $5.58 a gallon. With NOAA predicting an above-normal hurricane season, it’s not good news for crop production close to the Gulf Coast or for already short diesel supplies.

    The start to the hurricane season is underway. As of Friday, more than 10 million people in southern Florida, Cuba and the Bahamas were under a tropical storm warning for the weekend.

    If the tropical storm would track farther west, it could spell trouble for diesel supplies as experts say the U.S. is one hurricane away from a shortage this year.

    “We’re probably one Category 3 storm away [from a shortage], and that Category 3 storm would have to take aim for an area roughly from the Mississippi river to Houston,” says Patrick De Haan, head of petroleum analysis, GasBuddy. “That’s the really sensitive area. Not only could it affect refining, but it could affect offshore oil production.”
    https://www.drovers.com/news/industry/diesel-prices-smash-another-record-and-us-now-one-hurricane-away-running-out-diesel

  9. Fast Eddy says:

    “Covid vaccinations for children under age 5 to begin as early as June 21, White House says”; Ashish Jha, Fauci, Francis Collins, Walensky, CDC, NIH, all know this is criminal; healthy kids will die!

    https://palexander.substack.com/p/covid-vaccinations-for-children-under?s=r

    Why norm?

    Interesting – anti-abortion protests target clinics… but we are looking at mass mass murder and maiming here… and nothing…

    Simulation?

  10. Fast Eddy says:

    How Covid “Vaccines” Cripple the Immune System | Part 4 of 5
    Antibody Mediated Selection

    Here is the fourth of five short videos explaining how the forced covid injections damage their victims’ immune systems, rendering them more vulnerable to coronaviruses and other infections, as well as cancer.

    In this fourth video we explain Antibody Mediated Selection: a process whereby the antibodies produced in response to the covid injections, are driving the evolution of the coronavirus spike protein to circumvent the artificially induced antibodies. The resultant evolving coronavirus variants are particularly dangerous to the injected individuals. Also if these injection campaigns and ongoing boosters are not stopped, the spike protein could become so modified as to present unknown dangers even to naturally immune persons.

    Knowledge is power. Thanks for studying the science and sharing the knowledge:
    https://drtrozzi.org/2022/06/05/how-covid-vaccines-cripple-the-immune-system-part-4-of-5

    (https://r20.rs6.net/tn.jsp?f=0015xdfBW44wBh1laWLj59oVRZMPgI9ckZoFPX5Iv0BTII0_u-v9B9CGM9Ts4ssTIvwgGrJ7XLegqxkaSbJQ4XG3E7zmIcIMxtkJSqHQsTM1rK0svIZN2YXvjoLwAvtfJmrYoG_c4u4idWmNoyKS0ap23ac0Eo4li_JaAS8F8UriIjPc5klP_WEX8474DKg_EZjv2gkG9kl7nWTTDMZf0S63qQ0NxWjwm-l_D0pspPydcaphfW5S7UJQA==&c=oULnqj0z0aCQ6IVd0TSWrV4qtaKxgA9Lrh6H4usBofQ9m-sOjKhmrA==&ch=ABDW5wpTdQPsy4NQm0J_uiwAGO5sliRbtrG4xiJ2BDQ0NNxFi_h5TA==)/

  11. CTG says:

    Isn’t it exciting?? Front row seats to the greatest show on earth. Preview isniver and the show starts now. Events are unfolding at accelerated pace and we are hurtling towards singularity (small caps, not the same as kulm’s).

    Faster and faster as it circles the bathtub’ drain hole and “plop” it ends…

    Perhaps it cumulated in a total collapse (we are too interconnected) and probably over in a few days in a Mad Max scenario? How disappointing that will be. The entire human civilization that stood the test of time (few thousand years) gone in a few days or weeks….

    • 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 will see. Everything seems to take longer than we expect.

  12. Fast Eddy says:

    Anyone who repeats this to you as if it’s a real thing…laugh in their face.

    The Dramatic Rise In “Sudden Adult Death Syndrome”

    https://usamagazinestudio.com/the-dramatic-rise-in-sudden-adult-death-syndrome/

    @DowdEdward

    You took a perfectly healthy person and now they are sick or dead. I can’t emphasize enough, I just can’t come to terms with the idea that there are people out here in the world, who believe that that is logical, or makes any type of rational sense. I am just speechless.

    @DowdEdward

  13. Fast Eddy says:

    So is norm!!! At least a child says because when he can’t answer a question

    Dan Bongino: Joe Biden Is Like a Child

    “Never taking responsibility is a hallmark of a troubled, deeply immature individual who’s not serious about fixing anything. Even worse, that person may not be able to actually fix anything, even if they wanted to. Which leads us to the question who’s actually running the country right now?”

    @UngaTheGreat | Rumble (https://rumble.com/v17fdb3-dan-bongino-joe-biden-is-like-a-child-always-blaming-others.html)

  14. Fast Eddy says:

    We have not forgotten about you celine … seems you didn’t dodge a bullet like Nadal…

    https://www.msn.com/en-nz/news/other/celine-dion-s-severe-and-persistent-muscle-spasms-explained/ss-AAR1JD2

    If she’d come clean on what’s caused this I would retract my hahahahahaahahahahaha f789ing bitch is causing even more death and destruction by hiding her vax injury … hahahahaaha oh well

    • I sincerely apologize to Celine.

      I had forgotten her misfortune!

      when is the next tour?

      I’ll buy tickets, any price.

      the Wheelchair Tour of 2022.

      • Fast Eddy says:

        good point … maybe she’ll be on the Canadian ‘volleyball’ team at the next paralympics – you know – the one that nobody watches or gives a f789 about but it’s not PC to say that….

        I wonder if she can Slither Like a Snake — or if she is totally absolutely f789ed and can only blink once for yes twice for piss off.

        She always had a been of a reptilean look about her

      • Xabier says:

        I really shouldn’t have laughed at that, David: but I did.

  15. Fast Eddy says:

    China crisis actors caught faking it https://t.me/TommyRobinsonNews/36286

    Hmmm… the new BLM? https://t.me/TommyRobinsonNews/36287

    Uh oh … https://t.me/TommyRobinsonNews/36290

    What is THIS????? https://t.me/TommyRobinsonNews/36295 Joe Biden should be proud of Hunter if this is the other option

    Collusion and Malfeasance: What’s the Chance That All Four Companies Would Pick the Spike Protein?

    Suboptimal Vaccine Design at Every Level

    – When developing a vaccine, you would normally pick a part of the organism that is not intrinsically harmful; they picked the most dangerous portion.

    – Next, you would pick a part of the organism that is genetically most stable. Well, they picked the bit that apparently mutates most quickly.

    – You must also try and pick a part of the organism that’s most different from you so that when you elicit an immune response, it won’t overlap and hit you. However, the spike protein was the least dissimilar option they had.

    Dr. Mike Yeadon: (http://t.me/robinmg) “Well, so what do you make of all four companies doing the same thing [and picking the suboptimal choice]? There’s a long delay, and they [peers in the industry] said, ‘They must have designed to do it together.’ So I think collusion and malfeasance is evident there.”

    @VigilantFox | Rumble (https://rumble.com/v17f61x-collusion-and-malfeasance-whats-the-chance-that-all-four-companies-would-pi.html) | Full Video (https://www.theepochtimes.com/former-pfizer-vp-massive-fraud-playing-out-on-a-global-scale-reckless-to-vaccine-the-whole-population_4509490.html)

  16. https://www.yahoo.com/news/putin-says-russia-destroyed-u-164040984.html

    “Putin says Russian anti-aircraft forces ‘cracking’ enemy weapons ‘like nuts’…”

    a bit of Russian humour.

  17. Fast Eddy says:

    WARNING: Urgent warning to women under 40 after sharp rise in sudden killer; BLOOD CLOTS, deep vein thrombosis (DVT) in lower leg (OR ARM OR CHEST); COVID causes but the vaccine escalates risk

    https://palexander.substack.com/p/warning-urgent-warning-to-women-under?s=r

  18. Hubbs says:

    Although I do not particularly “like” Gonzo Lira, as he is somewhat brash, his comments are worth listening to, even if it is too early to tell what is going to happen.

    Basically he reaffirms that he thinks Russia is intent only on securing the Russian ethnic portion of Ukraine in the east and some of the south for strategic sea lane access all the way to Odessa. He lives in Eastern Ukraine Kharkov with his Ukranian wife.

    Russia realizes that any “peace treaty” with NATO will not be honored, and therefore needs a significant land buffer and that no peace treaty will be forthcoming. Fool me twice….

    Germany, Italy, and France have been rumored to be quietly negotiating a peace plan to avoid a catastrophic winter from lack of fuel for heating and food.

    He would not be surprised if Germany, Italy, and France abandon the US as a result, rendering NATO a complete shell.

    • “Basically he reaffirms that he thinks Russia is intent only on securing the Russian ethnic portion of Ukraine in the east and some of the south for strategic sea lane access all the way to Odessa.”

      other military action was a ploy to fix Ukraine troops away from the east and south.

      wow, Ukraine “won” the Battle of Kiev. Historic!

      “Germany, Italy, and France have been rumored to be quietly negotiating a peace plan to avoid a catastrophic winter from lack of fuel for heating and food.”

      nooooooo… stand strong! ban all immmoral Russian oil and gas!

      “He would not be surprised if Germany, Italy, and France abandon the US as a result, rendering NATO a complete shell.”

      yesssssss! put an end to the military offensive aggression of NATZO!

      I’m torn between these last two… Europe self-destructing or NATZO eliminated.

      why can’t it be both?

  19. Tim Groves says:

    …something is wrong here. Knowing what we know about the Democrats and the Deep State (and the legacy media) that shares their belief system, their current conduct does not ring true. Their actions are far too muted. The inevitable loss of effective power is mere months away, yet they seem unconcerned. Contrast this behavior with how they reacted when it dawned upon them that they had lost the White House to Trump in 2016. They were apoplectic. They went after him relentlessly for four years, continually trying to find ways to unseat a democratically elected President and, when that didn’t work, BLM and Antifa were enlisted as the shock troops in the first domestic color revolution. They then rigged the 2020 election – this is a view shared by a majority of Americans, not just me – mounting an effective coup d’état in the process.

    Perhaps they are blind to the facts. Perhaps their elite echo chamber existence is encouraging delusional thinking. Perhaps they believe that Biden can turn the tide. No, I don’t think so. My working hypothesis is that they know that they aren’t going to lose the mid-terms. Further, the only way that they can be certain of that outcome is to ensure that they don’t take place. I previously thought that they might manufacture yet more Covid lock-downs in the autumn (which they still might) and force mail-in ballots on all voters. This would give the Democrats a greater opportunity to cheat, given the laxity of most states’ voting laws.

    However, I don’t think this would be Plan A any more. Many states have tightened up their electoral laws in the past two years and the amount of fraud required to overturn the coming Republican wave may be beyond even the Democrats. Or, maybe they’ll do that anyway, thereby guaranteeing protests, which they can liberally seed with the Feds or private contractors to ensure that they turn sufficiently violent to justify another misuse of the word “insurrection”.

    In any event, I think the main objective is to force a situation where the President can declare a national emergency. A food shortage severe enough to cause rationing might well be enough. The financial implosion that is out there in our near future, just waiting for the chosen trigger to be pulled would probably do it. The cost of living crisis, perhaps. Another summer campaign of ‘mostly peaceful’ arson attacks on American cities. A war, which has been the traditional weapon of choice. Any one of these will do due to the extraordinary, furtive annexation of power by the executive.

    https://endurancea71.substack.com/p/working-hypothesis?s=r

    • Sam says:

      Yea I have been thinking the same thing. But the republicans have been sitting on their hands and not saying anything! It’s almost like they are compliant.

    • well THAT would be exciting!

      one of my unfinished thoughts is that the Demoncrats subconsciously suspect that they sukc at ruling, or at least the Times are so tough that they wouldn’t mind not being in charge, as long as it’s not Trump again.

      but that would be 2024, not these November elections.

      or maybe the Ds have just grown tired of taking dictation from the globalist Elites.

      but mostly, I just think (others have said previously?) that of course the Ds want to continue to hold power, but they have grown anxious and even desperate because they have been failing so much over the past 16 months.

      much of this is hard to know.

      but what looks more certain is that the Ds and the globalist Elites, in whatever power relationship they have, are a bunch of aging wacccko psyyyycho miseducated greeedy misanthroppic unsttable socioppaths and psychoppaths.

    • CTG says:

      The financial implosion that is out there in our near future, just waiting for the chosen trigger to be pulled would probably do it.

      A little correction – financial triggers need not come only from USA. It can be from any developed or key country in the world

      • Fast Eddy says:

        Lots of people tell me the worst is over…. I usually play along with their high hopes… trying to make them believe they can move that rubber tree plant….

        Cuz when the next shoe drops on the CovCON… it’s nice to know that they came crashing down from such great expectations…

        Seems no matter how hard you smash these MOREONS they keep on believing whatever they are told hahahahaha

    • banned says:

      Agree. Something is coming. Considering how the polls are tweaked in Bidens favor his popularity is probably at 20%. What is coming is why he was installed.

      He has destroyed the dollar. Nobodies this stupid. Its on purpose. Hes the CEO they bring in to chop up a organization.

      Injections. Directed at USA EU. High energy per capita countries.

      Energy disconnect, currency destruction. Directed at USA EU. High energy per capita countries.

      Were pets that they cant afford the dog food for so they are dropping us at the walmart parking lot.

      Midterms really dont matter.

      Gonzalo is a drama queen but he right about one thing. EU can not survive without Russian energy. On the surface it would seem they thought the sanctions would bring Russia down. EU going down hard and soon instead. On the surface there was no plan B so all the can do is more sanctions- even as it destroys both EU and USA. If Gonzalo is right they go crawling backed to Russia with leaving NATO a prerequisite. Both EU and USA kaput at that point as exceptional management. So nuclear war? Are they that desperate? Or is it just the final liquidation of unprofitable subsidiaries?

      Look at the bright side. Were still useful for experimental gene therapy test subjects.

    • Fast Eddy says:

      Perhaps the top brass are aware that everyone will be dead before the mid terms?

    • drb753
      drb753 says:

      I doubt that it is that complicated. You always want to have elections, and rig them. If you don’t have elections you will redpill some intellectually limited but well armed former members of the middle class. I think Washington paralysis (already quite visible under Trump) is increasing. The puppetmasters are themselves at a loss and unable to crack the whip and issue timely orders as in the past. I think it is a standard subprocess in collapse.

  20. US inflation report for May will be released this Friday 6/10.

    about 8.5% now, and in reality probably closer to double that, 16.5% at Shadowstats.

    “they” will no doubt try to keep it in the 8s, not let it show 9+ which would be a psychological hit to the average consumer.

    whatever “they” say, it seems certain that high inflation will continue, at least a while longer.

    we’ve seen the stories/data for recent higher costs for coal, natural gas, diesel, gasoline etc and there is no way that these costs have fully filtered through to retail prices.

  21. Michael Le Merchant
    Michael Le Merchant says:

    ‘In Singapore only rich people can afford car’, say netizens as petrol prices exceed $4 per litre

    Fuel prices have continued to increase, surpassing the S$4 mark for the first time following the ban on Russian oil, which only worsened already-turbulent energy markets.

    Pump price tracker Fuel Kaki showed a litre of diesel in Singapore now costing between S$3 (Sinopec) and S$3.08 (Shell and Caltex), an increase from S$3 to S$3.05 two weeks ago.

    Meanwhile, a litre of 92-octane petrol is around S$3.26 at Esso and SPC and S$3.28 at Caltex, compared to the S$3.13 to S$3.20 range two weeks ago.

    Check out the latest fuel prices posted by Shell below, with Shell V-power (98-octane petrol) reaching S$4.04 per litre.
    https://theindependent.sg/in-singapore-only-rich-people-can-afford-car-say-netizens-as-petrol-prices-exceed-4-per-litre/

    • 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 expect car sales to fall further, with these prices!

    • Fast Eddy says:

      There are massive taxes on cars to begin with in SG – they double the cost of the vehicle (more I think for luxury machines).

      Not so sure the petrol prices are going to have a huge impact — nobody drives very far…

      Singapore chicks are meaty and hot… but usually not very interesting… making them ideal for VIP lounges

  22. Michael Le Merchant
    Michael Le Merchant says:

    Moorlands steam railway forced to add more diesel services as coal price skyrockets due to war in Ukraine

    A steam railway in the Moorlands says it has been left with no choice but to introduce more diesel services due to the rapidly increasing price of coal.

    Churnet Valley Railway said that the spike in price was caused by Government policy on coal and the recent war in Ukraine, which meant that the railway could no longer buy coal imported from Russia.

    The popular local tourist attraction explained that they did not want to pass these increased costs on to customers, and so made the decision to switch to diesel services on certain days.

    They added that this decision will be reviewed on a monthly basis.
    https://leek.nub.news/news/local-news/moorlands-steam-railway-forced-to-add-more-diesel-services-as-coal-price-skyrockets-due-to-war-in-ukraine-136107

  23. kulmthestatusquo
    kulmthestatusquo says:

    I now see that about 75-90% of everyone in the world will be priced out of existence.

    The greatest act of natural selection since I think the the Toba explosion about 70,000 years ago.

    • Bobby says:

      Oh no!, Not another overpriced Indonesian Natural de-selection Toba dance.

      • Tim groves says:

        Oh noes! Not Toba! That blast from the past made Tambora sound like a tambourine and and Krakatoa sound like crack a toe.

        Your 75-90% figure may be on the ball. But before that happens, a lot of those people will be attempting to go back to the land, with varying degrees of success, I should expect.

        Do the powers that be allow them to do that, and so become a socially and ecologically destructive force? Or do they bring out the goon squads to do what goon squads have traditionally done?

    • perhaps you should get your vision checked.

      but yes the 2030s are going to be really bad.

      now in the 2020s, it appears that the population is still rising.

      if the Elites want it to be falling, then their brains sukc.

      they better hurry, many of them are older than dirt.

    • The recent (May 2022) Marchi et al. paper suggest that the modern European genome is mainly descended from two ancient populations (Anatolian farmers and European hunter-gatherers who diverged, during the Last Glacial Maximum, about 25,000 years ago) that both had low effective populations amounting to about 1000 persons in total. About 60% of the genome comes from about 620 farmers, and about 40% from maybe as few as under 400 hunter-gatherers, due to bottlenecks and migrations.

      The modern European genome is mainly descended from two groups that went as low as about 1000 persons in total (some NE Europeans have minor ancestry from a third, Siberian group that diverged about 40,000 years ago.)

      > The genomic origins of the world’s first farmers

      …. Thus, the ancestors of western EFs are the product of repeated episodes of gene flow from the Western metapopulation. These populations have then diverged from Caucasus HGs due to an intense period of genetic drift between 12.9 and 9.1 kya (Figures 3 and 4). Indeed, we find that their effective population size was reduced to 620 individuals (95% CI 72–2,150) during this relatively long period of drift, which caused them to not only diverge genetically from their ancestral population but also from Caucasus and European HGs, and from Iranian EFs (Figure 4).

      …. In our initial model, the LGM divergence is immediately followed by a bottleneck of very strong intensity in the population ancestral to European HGs. The modeled intensity I of this bottleneck depends on the bottleneck duration (t) and its size (Nbot) as I = t/(2Nbot). If the bottleneck had lasted 4,000 years (corresponding to 138 generations of 29 years), our estimated intensity I = 0.18 would correspond to an effective bottleneck population size of 383 individuals. This low number is in line with the archaeological record suggesting a 60% decline in census population size in the latter part of the Gravettian, 14C-dated to 29,000–25,000 cal. BP, with total population size in Europe as low as 700–1,550 individuals (Maier, 2017).

      https://www.cell.com/cell/pdf/S0092-8674(22)00455-X.pdf

  24. Fast Eddy says:

    Bundestag Vice-President demands new pandemic legislation that will enable a return to mask, test and vaccine requirements in the Fall
    Corona is not over with.

    https://www.eugyppius.com/p/bundestag-vice-president-demands?s=r

    • 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 fossil fuels are in short supply, leaders need an excuse for locking people in their homes.

    • Sam says:

      If that’s the case they need to tweak the virus because right now it is a nothing burger

      • Rodster says:

        It was ALWAYS a nothing burger. It was the Media, Govt’s, Tony Fauci and Bill Gates who turned it into the Black Plague 2.0

        If left on its own, it would have burned itself out rather quickly. It was the profiteers who saw $igns in their eyes and kept the hype machine in overdrive.

  25. Michael Le Merchant
    Michael Le Merchant says:

    Still not a pandemic of the unvaccinated…2nd & 3rd dose recipients driving cases in the U.S.
    https://pbs.twimg.com/media/FUcwJmaXEAAt3eF?format=jpg&name=large

    • Fast Eddy says:

      Why norm?

      Why mike?

      • Rodster says:

        Because they believe authority and the State. It’s like the Movie called Compliance. Meanwhile as the UK Plebs were in lockdown in fear for their lives, BoJo and his crew were throwing maskless parties while everyone was told to stay home and don’t go outside.

        You can’t make this sh*t up with the level of in your face arrogance. It became “rules for thee and not for me”.

        • Fast Eddy says:

          It’s amazing – you can show the MOREONS photos of their leaders gathering without masks (there are some good ones of TruDUNCE and Donkey Face) and STILL .. and still… the MOREONS will not switch on to the fact that this is a massive Con.

          They make up some insane excuse — the thing is — we are told this virus is extremely lethal etc… so what excuse can their be for anyone being exempted? Particularly those who are issuing the f789ing edicts – they should be highly to an extreme standard.

          but nope… the CovIDIOTS just keep on doing what they are told.

          That is why they are MOREONS. It’s been bred into them… like trying to tell a wolf not to howl

        • Student says:

          In Italy it is even worse, you have the president in a photo with masked children and him not.
          And for Italians it is all right….
          People are completely woozy by now.

          https://www.lapressa.it/articoli/il_punto/draghi-senza-mascherina-in-un-mondo-di-bimbi-mascherati

          • Xabier says:

            The first stage was the politicians wearing those thick black masks to affirm the Cult.

            The second, being arrogantly unmasked among the masked and de-humanised masses, to show they are the new rulers to whom rules do not apply.

            And Italians are said to love children!

    • 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:

      Right!

      • Fast Eddy says:

        Correlation is no Cause! Correlation is no Cause! Correlation is no Cause! Correlation is no Cause! Correlation is no Cause!

        Trust the Science! Trust the Science! Trust the Science! Trust the Science! Trust the Science! Trust the Science! Trust the Science!

        Stand with Ukraine! Stand with Ukraine! Stand with Ukraine! Stand with Ukraine! Stand with Ukraine! Stand with Ukraine!

        Squawk!!!!!!

    • 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:

      This article by Dr. Paul Alexander is a very fine article. It points back to this peer-reviewed article, which indirectly explains why vaccinated individuals are likely to get ADE, as the virus mutates away from its original form:

      https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8351274/

      Infection-enhancing anti-SARS-CoV-2 antibodies recognize both the original Wuhan/D614G strain and Delta variants. A potential risk for mass vaccination?

      by Nouara Yahi, Henri Chahinian, and Jacques Fantini, published November 2021

      Abstract

      Antibody dependent enhancement (ADE) of infection is a safety concern for vaccine strategies. In a recent publication, Li et al. (Cell 184 :4203–4219, 2021) have reported that infection-enhancing antibodies directed against the N-terminal domain (NTD) of the SARS-CoV-2 spike protein facilitate virus infection in vitro, but not in vivo. However, this study was performed with the original Wuhan/D614G strain. Since the Covid-19 pandemic is now dominated with Delta variants, we analyzed the interaction of facilitating antibodies with the NTD of these variants. Using molecular modeling approaches, we show that enhancing antibodies have a higher affinity for Delta variants than for Wuhan/D614G NTDs. We show that enhancing antibodies reinforce the binding of the spike trimer to the host cell membrane by clamping the NTD to lipid raft microdomains. This stabilizing mechanism may facilitate the conformational change that induces the demasking of the receptor binding domain. As the NTD is also targeted by neutralizing antibodies, our data suggest that the balance between neutralizing and facilitating antibodies in vaccinated individuals is in favor of neutralization for the original Wuhan/D614G strain. However, in the case of the Delta variant, neutralizing antibodies have a decreased affinity for the spike protein, whereas facilitating antibodies display a strikingly increased affinity. Thus, ADE may be a concern for people receiving vaccines based on the original Wuhan strain spike sequence (either mRNA or viral vectors). Under these circumstances, second generation vaccines with spike protein formulations lacking structurally-conserved ADE-related epitopes should be considered.

      • Mike Roberts
        Mike Roberts says:

        Both ADE and VADE are concerns. ADE can happen whether the antibodies are prompted by disease or by a vaccine. This is an interesting editorial on the question: https://www.jpands.org/vol27no1/orient.pdf

        After 18 months of vaccinations, the data don’t seem to suggest that VADE is a particularly bad problem but variants may alter than picture. Certainly, it’s strange that very little research about this, in vivo, has been funded and that a much better system than VAERS has not been attempted (as the linked article mentions).

  26. Ed – I am interested in energy issues.
    Ed says:

    Eddy, your mate with the heart problems how is he doing?

    • I thought he was in very excellent health, except for his damaged heart.

      • Fast Eddy says:

        yes other than a damaged heart he’s perfectly healthy … he is off to get an MRI this week… he remains non-functional – cannot work — etc

        The other one with the damaged heart – who is also very healthy otherwise — is seeing two top cardiologists in Europe in the next couple of weeks — he is able to function and work but he cannot do anything resembling vigorous exercise without chest pain fatigue etc… he’s nearly a year into the ordeal..

        • Hideaway says:

          I think I’m jealous that someone that spends their entire life on this forum, has so many friends they keep in constant contact with. There must be at least 50 hours/day in NZ….

          • Sam says:

            I thought the same???? Is he even real? Or a Russian bot???

          • Fast Eddy is the multitasker par excellence. Only because of his cognitive stamina do I remain informed on so many fronts.

            • Fast Eddy says:

              I just came off a 60 minute bike ride since it’s a sunny crisp day here in QT… spoke to brothers back in Canada … did a morning fast not eating till 130… and here we are back on OFW…. and at the same time sending out edicts to my soldiers in Hong Kong….

              It might seem impossible for one person to handle all this … but when you are fuelled with unlimited Bolivian Powder almost anything is possible

          • Rodster says:

            Fast is omnipotent, he’s everywhere all at once. Even God is jealous.

        • Jon F says:

          Nadal won the French Open yesterday….so his breathing difficulties a few months back were a result of a rib injury….or did he undergo a “procedure”?

  27. In preparation for the Cataclysm I have been trying to wean myself off of food and water: I predict a low probability of success.

  28. https://www.espn.com/soccer/report?gameId=633467

    Wales ends Ukraine’s dream run to the World Cup.

    One to Nil.

    an “own goal” by Ukraine!

    hahahahaha.

    so sad!!

    why does this remind me so much of “the war”?

  29. Michael Le Merchant
    Michael Le Merchant says:

    Diesel – Photo taken in Locust Grove, VA this morning:
    https://pbs.twimg.com/media/FUaybR3XsAIO-pW?format=jpg&name=large

    • 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:

      Lots of food and other goods transported using diesel. Also, machines used in farm work use diesel.

    • “out of diesel” is much worse than higher priced diesel.

      if the USA was run by mature adults, such as those who run Russia, then they would be doing everything they can to try to maintain diesel supplies.

      but the puppeteers behind Joe Bidet are immature psssycccho miseducated woketards.

      who will surely mishandle the situation and make it worse.

      it was the worse of times, it was the worst of times.

    • Fast Eddy says:

      Not a bad time to fill up some jerry cans with Big D …. just enough for emergencies as we go extinct… I have enough to fill the ute tank twice…

  30. Michael Le Merchant
    Michael Le Merchant says:

    Average price for truckstop diesel about to break $7.00 in San Francisco
    https://pbs.twimg.com/media/FUgMl3vWYAEsKTK?format=jpg&name=medium

    • 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 wonder if some independent truckers will decide to go out of business. They have loans on the truck rigs to pay back. They are paid by the mile driven. I doubt that their pay per mile is rising enough to pay for all of their added costs.

      There could be a lot of defaulted loans on independent semi-trucks.

      • Michael Le Merchant
        Michael Le Merchant says:

        From a trucker:

        As a carrier on the east coast the rates we are being paid are not supporting this kind of rapid fuel increase. My worst case scenario is that high diesel puts us and many other small carriers out of business.

        Followed by heavy food shortages at the store locations. Followed by food/beverage companies looking to sustain profits on smaller volumes which drives even more unbelievable inflation.

      • Rodster says:

        That was brought up recently that many of the independents would default on their loans. They are essentially mortgages for those trucks in a literal way because it’s basically their home away from home.

      • Hubbs says:

        My gears are turning. Things are so screwed up, and so unpredictable that with the possibility of all these used trucks being dumped on the resale market, I have even thought of buying a semi truck and trailer to load up all my junk so that I can haul off somewhere, when and if the time comes. Had even looked into getting my CCL. I recently loaded/unloaded all my junk on three 26 foot Penske trucks for trips across the state when I had to relocate back to my former office where I now live, hoping and waiting to sell it. I’m a lousy driver, flunked my motorcycle road test 45 years ago ago when the throttle jammed wide open as I turned hard to switch from clockwise to counterclockwise turns during my road test in East Aurora, NY on a teeny weeny Honda 100cc. I jumped off the bike and it vaulted off the curb into the park before falling over, the rear wheel whining away, as the amused people at the bus stop all cheered. The examiner said, “Son, heh, heh, I’ll see you another day.”
        Did get my private pilot’s license, flew arial combat at Air Combat USA in a Sia Marchetti SF-260 in Fullerton CA, and areobatics in a Super Decathalon, 1991 so I guess I’m not a total clutz. I wonder what the 100LL AV Gas situation is.

        • Bobby says:

          Fast reactions saved you, almost visualise the screen otherwise going over the top, top gun music in the background. Least you laughed away from it in one piece

      • Fast Eddy says:

        Ooops someone set my truck on fire!

        Or just run it along a rock cut and do enough damage that it gets written off

        • 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 can imagine insurance claims will be “through the roof.”

  31. There is no going back to a preindustrial agrarian economy, for most of the remaining arable land has been destroyed by paving.

    • Hubbs says:

      It may be worse than that. All this paving may not impact the amount of arable land available as much as the depletion of the nutrients in the top soil, the water in the aquifers below or the rivers upstream.

      Farm land has been reduced to farm “surfaces,” upon which crops grow only if water, fertilizer, pesticides, herbicides, GMO seeds can be delivered, even if only by dirt roads.

      If trucks do not run due to lack of diesel, required gas additives, or spare parts, then there will be no delivery of these essentials. We will not only have bridges to nowhere, but roads to nowhere, i.e., vast sterile farm land.

      The sterile oceans are next in line for the fishing boats.

      • Artleads says:

        The paving prevents rainwater percolation into aquifers, while eventuating runoff into storm drain systems that require fossil fuels to activate. This is good neither for topsoil health nor for energy conservation. (I’ll stand corrected re storm drain systems, however.)

      • Fast Eddy says:

        Farm land has been reduced to farm “surfaces,” upon which crops grow only if water, fertilizer, pesticides, herbicides, GMO seeds can be delivered, even if only by dirt roads.

        Humans are meant to be intelligent. What other species signs their own death warrant like this?

        I know people are gonna struggle with and push back on this … but seriously… humans are the stupidest organism to ever exist. Nothing comes close

    • 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 am not sure that it is most, but there certainly is a lot of farmland that has been destroyed by paving. Also, quite a lot of topsoil has blown away. Furthermore, we now have many more people to feed, and the number of acres of arable land has not increased.

      • Cromagnon says:

        I have had “ discussions” with very large scale field crop farmers ( 25,000 acres plus under cultivation). They are almost entirely clueless ( or sociopathic) as to what they have done to the land and how fast their economics can dissolve beneath them.
        They bemoan the input costs not understanding that they have destroyed the soil that grows the crop. They apply toxins that last years and ignore the vast erosion that is openly occurring.

        When I tell them directly that their days are numbered they laugh and say people have to eat…. when I say, fewer people sure don’t they get quiet.

        Feel no sympathy for those scumbags. They are but corporate lapdogs and will pass through the veil into the lower astral planes to moan and suffer along with all lawyers and government employees.

        • not saying you’re wrong

          but feeding billions of humankind demanded cheap food.

          cheap food can only be produced by industrialised farming–we all wanted to spend less and less on food—more and more on other ‘stuff’ we didnt need

          equate it with a car–before Henry Ford, cars were hand made and expensive—Ford made them affordable to everyone by industrial production methods

          now cars have polluted the world.

          theres no difference

          too late to call farmers scumbags i’m afraid–or Ford or Rockefeller,

          they just delivered what we demanded

          • Cromagnon says:

            Henry Ford was a scumbag,…. there, I said it! Lol

            I understand your point. I spent years of my youth on large field outfits so I know better than anyone what has occurred. I hated it then and I despise it now.

            Frankly there are only a very tiny few professions that are free from guilt in this fallen world.

            Ranchers, horticulturalists, fur trappers, some loggers and small scale fisherman. Them, along with the few hunter gatherers and nomadic herders will get a free and rapid transit to the god source. The rest of humanity ain’t going into the light as fast as they might hope.

          • Bobby says:

            Few of us see the whole picture all the time, just glimpses of reality when we’re fearless and honest enough to emerge from the default ‘Auto-self mode’ and stop clinging to our small, treasured perspectives beliefs, motivations and bondage

            • Cromagnon says:

              That is why I have withdrawn from your world. I spent decades of my life trying to teach permaculture and holistic management and “ common sense” to people. I recognized the existential danger by the time I was 8 so nobody can tell me they can’t see it.
              It is craven cowardice and mental laziness nothing more.
              Calhouns experiment shows it plainly and so it plays out.
              Utterly pathetic. For those who think the wealthy will survive this , they have no grasp what is ultimately going on. Funny thing is, I doubt that actual global warming ( from fossil fuels) is even a remote concern.
              But the biodiversity collapse combined with energy collapse is potentially hominin ending.

              The Comanche really did have the right idea. Stone age horseman was as high as we should have ever gone in this reality.

            • Fast Eddy says:

              Would you agree that we would not be in this situation if the first person who put a seed in the ground had been skinned alive — as a message to all others who might be thinking of farming.

            • a great many people see only the reality that fits in with preconceived ideas and certainties.

              when facts conflict with that

              then ‘change the facts’…or vote for someone offering ‘alternative facts’

        • Fast Eddy says:

          TINA except starvation. So they do it

  32. Russia limits exports of noble gases, a key ingredient for making chips
    Reuters
    June 2 (Reuters) – (This Jun.2 story corrects paragraph five to show that Russia accounts for 30% supply of three noble gases, not all noble gases)

    Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday.

    Russia’s export curbs could worsen the supply crunch in the global chips market. Ukraine was one of the world’s largest suppliers of noble gases until it suspended production at its plants in the cities of Mariupol and Odesa in March.

    Exports of noble gases, which Russia used to supply to Japan and other countries, will be allowed only with special state permission until Dec. 31, the Russian government said on May 30.

    The move will provide an opportunity to “rearrange those chains that have now been broken and build new ones,” Deputy Trade Minister Vasily Shpak told Reuters via the ministry’s press service on Thursday.

    Russia accounts for 30% of the global supply of three noble gases – neon, krypton and xenon, according to the ministry’s estimate.

    Taiwan, the world’s leading producer of chips, imposed curbs on exports of this product to Russia after Moscow sent thousands of troops to Ukraine on Feb. 24.

    “We plan to increase our production capacity (of noble gases) in the near future. We believe that we will have an opportunity to be heard in this global chain, and this will give us some competitive advantage if it is necessary to build mutually beneficial negotiations with our colleagues,” Shpak said.

    Reporting by Reuters; Editing by Richard Chang

    Joe Blogs talks

    NEON GAS is needed in LAZERS which are Critical to the Production of MICROCHIPS and SEMICONDUCTORS. Prior to the War UKRAINE produced 50% of the Global Supply of Neon Gas however both of the Factories are located in areas INVADED by Russia and have now closed. As a result RUSSIA is now the largest supplier and now provides around 60% of the Global Market. In RETALIATION to the Sanctions Russia has now announced a BAN on the Export of NEON GAS which could result in shortages in the Western World. In this video I provide a full explanation of the situation and assess the potential impact on the Global Economy.

    https://m.youtube.com/watch?v=eAUNxHwi8GU&t=57s

    I’ll be alright..I have a fish tank full of Neon Tetras

    • ivanislav says:

      Wow, if that’s right, then Ukraine = 50% and Russia = 30% of Neon supply, so 80% of global supply is unavailable.

      • 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:

        Hardly anyone thinks about how the whole global supply chain works.

        This activity sounds like “cutting off one’s nose to spite one’s face.”

        • Bobby says:

          This activity sounds like “cutting off one’s nose to spite one’s face.”…that’s right, it also places the world on trajectory for further escalations over resources, we all suffer as a result.

          When one group seeks security by resource control, sanctions or embargo’s, it automatically creates insecurity and opposition for any outside group, thus compromising the intended outcome of security for the control seeking group. To each action an equal and opposite balancing, seems a phenomenon in this universe. The action of the agonist creates the antagonists. We don’t seem to get these laws as a collective, probably because of human egocentrism..like Eddy says we are a bit stooupid

          • 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:

            Good points!

    • Bobby says:

      Lol.. Neon tetras are pretty, zippy creatures. If we go to war over noble gases we’ll end up with glowing radioactive ‘lemon’ tetras too, refracting photons into the environment as well as up the food chain. They’ll fit right in because the whole world would then be one big fat yellow lemon for everyone for everyone to suck on.

  33. Michael Le Merchant
    Michael Le Merchant says:

    Russian Pundit: ‘Next Comes World War III; Nuclear War Is Coming’

    A Russian political science pundit says the West boasting about the continued shipping of lethal aid to Ukraine is going to ultimately lead to World War III and nuclear war.

    “[The West] talk about how many more weapons are being sent and how frightening these weapons are, they don’t understand what happens next,” political scientist Sergey Mikheyev told Russia’s Channel 1, according to an Express translation. “They all say ‘terrible weapons are arriving over there, they keep coming and coming.'”

    “They promised not to use them a certain way, but most likely they will do it anyway, and that will lead to World War III,” Mikheyev continued. “Then we’re being told ‘calm down, comrades, everything will be alright.’

    The Russian pundit says the latest weapons assistance is going to lead to World War III.

    “A common man asks, ‘What happens next?'” Mikheyev concluded. “Next comes WW3.

    “The nuclear war is coming, that’s all.”
    https://www.newsmax.com/newsfront/russia-nuclear-war-world-war-iii-himars/2022/06/05/id/1072993/

    • Rodster says:

      Some say that WWIII has already begun without firing a single shot. WWIII began as an economic war when the US sanctioned the living hell out of Russia, booted them out of the SWIFT payment system, seized their assets in the US and abroad as well as seizing the assets of Russian billionaires around the world. They were also banned from selling their oil onto the markets.

      The owner of the Liverpool FC was forced to sell his team, he was given no option. Nikita Mazepin lost his Formula 1 seat because he was Russian. That all became the start of WWIII.

    • Sergey says:

      I see European Union in a terminal decline stage. They are going to cut down their main energy supplier (cheap energy). Probably they need a war to reduce their people to start it from scratch, but they simply don’t understand, it will be nuclear war and their land will be damaged for centuries and they will be unable to live on it.

    • 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. We don’t know how world population will be greatly reduced. A nuclear bomb or bombs could be part of it. Europe, especially, is in terrible shape.

  34. Michael Le Merchant
    Michael Le Merchant says:

    Fauci blasts ‘conspiracy theories’ in NYC graduation speech

    June 4 (UPI) — Dr. Anthony Fauci, the chief medical advisor to President Joe Biden, blasted “radical fringe groups” for “conspiracy theories” in his keynote speech to students graduating from a college in New York City on Friday.

    “It is blatantly obvious that we are experiencing a deepening divisiveness in our nation, fed by a flagrant devaluation of the truth,” Fauci said during his commencement speech at the City College of New York.

    Fauci said that “genuine differences of opinion or ideology are part of a healthy society” but that “outlandish statements and pronouncements” are increasing.

    “Fabrications, conspiracy theories and outright lies are becoming commonplace from radical fringe groups as well as from people who you would hope would know better – and you know who they are,” Fauci said.

    “Yet segments of our society have grown increasingly inured by such falsehoods while the outrage and dissent against this alarming trend have been relatively muted and when voiced are regularly castigated.”
    https://www.upi.com/Top_News/US/2022/06/04/anthony-fauci-blasts-conspiracy-theories-nyc-graduation-speech-covid/2811654316163/

    • Xabier says:

      The worst liar of them all should know……..

    • as i keep trying to point out

      conspiraholism is taking over—it’s more comforting to think you’re sober and everyone else is a conspiraholic except you.

      • Marjorie Taylor Pagett seems to believe everything the MSM says about “vaccines”.

        and yet he questions most of what the MSM says about energy.

        odd.

        • kindly expand on my energy errors

          i am interested to know

          i think your conspiraholism is causing you to fail the common sense test

          • I must have been too imprecise there.

            try again:

            you surely know energy issues, and consequently you do not buy into the erroneous MSM messaging about energy issues.

            I compare that to this:

            you seem to buy in totally to the MSM messaging about the toxic “vaccines”.

            why aren’t you as skceptical about MSM vaccine messaging, since you seem to know how absolutely horrrible they are with energy messaging?

            it’s hard to comprehend your double standard.

            • nikoB says:

              Clear and concise David.
              I struggle with Norm in this regard too.
              Makes me wonder where my major blind spots are or my anchors of denial dragging me under.
              Either way I hope the vaxxes don’t impact Norm negatively as i would miss his commenting.

              bUA tonight vacc inated baby!

            • Fast Eddy says:

              Someone will point out blind spots… it’s OFW.

              norm won’t acknowledge that mass psychosis exists – therefore he will remain forever trapped in DelusiSTAN

            • Mike Roberts
              Mike Roberts says:

              For myself, I don’t “buy into” any messaging, whether from MSM or from alternative sources. I examine the evidence that I see and make my own mind up. Just because I might appear to accept some of the MSM messaging, that doesn’t mean I accept all of it, not even all of the story related to a particular strand I accept.

              The problem I see with a lot of commentators on MSM issues is that they just flat out deny everything that comes from one source and flat out accept anything from another source.

              I try to keep an open but critical mind on every subject and if someone takes another stance, that’s up to them. I’m open to serious discussion and sometimes I may be swayed by their arguments, sometimes not. Certainly, if I see flaws in their argument then I will not accept it and, if they ignore or deny those flaws, it may colour my views on anything from that source.

            • Fast Eddy says:

              Let’s test mike!

              mike – do you think injecting healthy children and babies is a good idea – if so why?

            • are you saying that you gave yourself sufficient time to make a highly educated decision to get jabbed?

              in the 10 year long term study window, can you tell us again how many months you took before deciding?

            • Mike Roberts
              Mike Roberts says:

              There were time constraints. I was against getting vaccinated myself, at first. Over about 3 months, I changed my mind based on what I read from many sources. TBH, right, now, I’m not sure I would continue on the vaccination road.

            • Fast Eddy says:

              Congratulations mike… you have come to your senses…

              We will focus on norm now … norm – 5th shot soon?

            • Fast Eddy says:

              You cannot undo VAIDS …

            • okay thank you for your clear answer.

            • Fast Eddy says:

              Pfizer brain damage?

            • i’m probably missing something–i often do

              there are obvious factors about vaxxing that can cause problems–that is true of any medical intervention on the human body.

              i do not offer opinions on it, one way or the other, because i don’t know enough to do so.–i have had the vax, booster and so on, but havent told anyone else to, or not.

              problem with certain inmates of OFW is that not being part of collective hysteria on any subject is assumed to be against or for, whatever question is under debate. One’s own opinion is always an affront to someone else.

              but as i’ve said many times, i ridicule all the wacky stuff about it, been through all that too many time to bear repeating again. dismiss my thinking on it if you wish. It wont annoy me, or make me call your se xuality into doubt.
              All this produces more hysteria : ”you want babies vaxxed” and all the rest of the eddyvomit. One can only laugh at it as one finds a child funny .

              But a child grows up. Some stay as children forever.

              not ‘buying into’ vaxxing etc, has no direct relation to energy issues.

              ***

              The covid thing is short term and open to debate., The energy problem is clear cut, and terrifying for our long term existence. If you can’t grasp that, that’s your problem.

              90% or thereabouts of our support system derives from oil coal and gas. there are no exceptions. Our lives literally depend on it, and renewables will not replace it. Goverments know that. Some of us lower orders know it too, and what it means.

              But ”bill gates intends to kill us all” is a childish mantra convenient for diverting attention from the real problem ahead. That’s where social media is useful. And dangerous.

              Conflicts over energy resources are kicking off everywhere, but the reality is they started in the 1930s–most people see WW2 as a different war–it isn’t, this is the same war. We’ve just had a few years of relative peace while the USA burned through its oil reserves.

              We are not in ‘fake wars’ with ‘crisis actors’.

              We are not ‘running out of oil’, we are running out of the means to convert oil into wages—-ie oil is getting too expensive to burn. Industrial civilisation is entirely dependent on accellerating forward motion.

              If we stop–we go into the ditch.

              how difficult can it be to understand that?

            • Fast Eddy says:

              Keep on vaxxing norm…. ignore reality and keep shoving that shit into your body hahaha

              You know – whenever I meet someone who lets me know they have had all the shots…

              I immediately think — this is a stoopid MOREON… a very stooopid MOREON…

              I can’t help it

            • but at least you can be sure they can spell, and do it without caps as well

            • Xabier says:

              Beautifully and precisely put, David.

              This is the most curious phenomenon: just as when old friend who has often spoken to me with alarm about fatal medical error and corruption, suspects all governments and despises politicians and the Davos crowd, swallowed the mendacious Covid and vaxx narrative put out by the very same people in its entirety.

              Logically, they ought to have been as reserved and suspicious as I was, but no.

              The difference may be 1/ the long-planned brilliance of the whole Covid psyop and 2/ the sheer magnitude of the unfolding crime, which most are neither imaginative enough to grasp, nor brave enough to face squarely.

              In Norman’s case he has also spent so long sneering and jeering here, and even driving his friends to get jabbed, that he can’t back down without losing face completely: and so with have the new word produced from his word-smithy, ‘conspiraholism’.

          • Fast Eddy says:

            norm is drunk with injections … he’s making even less sense … expect this to worsen

        • Joe Biden = Boris Johnson with dementia.

          (or would that be an improvement for Boris?)

          • i sense you belong to the school of thinking that believes prosperity is something you can vote for

            • you sense wrongly.

              the Demoncrats have done such massive damage in this mal”administration”, that there is probably no way to undo that damage, certainly not with the 2024 POTUS vote.

              you know the underlying energy issues, which make any economic downturn virtually unable to be reversed.

              the Bidet Demoncrats are also totally skcrewing over Europeans by provoking them into reeediculous sanctions that are blowing up in European faces.

              if your children or grandkids are freezing in the dark this winter, literally, you should thank those Demoncrats.

            • if putin isnt stopped

              he will absorb the baltic states next

              and have his foot on the jugular of everybody’s oil

            • 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 NATO doesn’t keep pushing Putin . . .

            • i sense that there is a lot of projection heading in Putin’s direction.

              when the obvious scenario is that the USA has Europe on a short leash, and the USA has “convinced” the EU woketards to do massive sanctions, which will hurrt Europe far more than Russia.

              if the USA isn’t stopped…

              then…

              it looks like a lot of Europeans literally “freezing in the dark” this coming winter.

              all because the EU woketards couldn’t stand up to the USA bullly.

              and YES, the USA uses NATZO as its tool.

            • the ultimate cause behind this conflict is exactly the same as germany and japan in the 1930s–a grab for energy resources–it is still the same war btw

              exactly how it will play out is anybodys guess

              but it isn’t going to be pleasant for any of us

            • Fast Eddy says:

              But you love biden right norm

              What about kids — why would we want to inject them?

        • Fast Eddy says:

          norm lacks the logic gene

    • 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 a really strange world that we live in! Yes, “Fabrications, conspiracy theories and outright lies are becoming commonplace,” but Fauci seems to be the worst offender.

    • Bobby says:

      Maybe he should concentrate on completing a genuine internship

    • banned says:

      Half those students know someone who is vax injured or are vax injured themselves. As more and more people come to the reality that this horrendous concoction is unsafe and has negative efficiency the anger grows. Fauci tries to wipe the anger off on “them” but being poisoned knows no politics. Whether your left or right no one likes being poisoned. Maybe some of those students can actually understand statistics. Maybe not it is NYC. Give your little speech at BYU or Berkeley. The phizer data dump shows it all. Unsafe and ineffective. You knew. FDA knew. Very early they knew. You want to wipe it off on politics. This is not left or right. Naomi Wolf. Left as they come. RFK jr. Left as they come. Poison is apolitical. The kids are waking up. They dont appreciate being poisoned. Crimes against humanity are apolitical. Your little mr Rodgers/john boy voice act doesnt fool anyone anymore Fauci. Never would have made it past animal trials. Just like all the times you tried before.

  35. Michael Le Merchant
    Michael Le Merchant says:

    Rising Food Prices: Reddit comments from all over the world are going OFF

    Reddit users from all over have been posting and commenting on what they’ve seen in their countries, and it seems like we’re all going through this steady rise in food prices together.

    Here are some of the most notable comments and reactions Reddit users are posting about the incredibly high food prices right now.
    https://dailyhive.com/vancouver/reddit-comments-rising-food-prices

    • 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 higher prices are truly amazing!

  36. Michael Le Merchant
    Michael Le Merchant says:

    Middle-class Afghans facing starvation as aid runs out

    Officials say they will soon need to cut programmes and take ‘food from the hungry to feed the starving’ as a humanitarian crisis looms

    Long before the gates open, the queue for food already snakes around the block. Under the watchful gaze of patrolling Taliban guards, hundreds of people in a neighbourhood in Kabul line up to collect their month’s worth of meagre rations.

    The economic collapse and hunger which followed the Taliban’s takeover last summer has not spared this once prosperous, middle-class corner of the Afghan capital.

    “She would die if we did not have this aid,” said a woman in the queue called Simin, pointing to her daughter Reyhana. Her husband is jobless and the couple must somehow feed six children.
    https://www.telegraph.co.uk/global-health/climate-and-people/middle-class-afghans-facing-starvation-aid-runs/

    • Nope.avi says:

      As many have said, the people with college degrees will lie about current events in any historical documents. Whatever is happening now in term of energy shortages will be blamed,by people with college degrees, on anti-vaxxers and Putin. Any deaths due to this will be counted as Covid-related or Putin related. It will be difficult for them to blame this on real energy shortages or climate change. The people with college degrees will be reluctant to say Pakistan’s energy crisis is a result of a Pakistani government that supports NATO and is refusing to importing Russian fuel, to please NATO. They will deem this as an “outlandish statement” ” “Fabrication, conspiracy theory” or “outright lie”.

      • Fast Eddy says:

        Oil is abiotic… I am told… it will never run out…

        Which is actually true… but that’s cuz most of what’s left … is too expensive to extract

    • Nope.avi says:

      https://tribune.com.pk/story/2359677/pakistan-reluctant-to-buy-russian-oil-fearing-american-backlash-claims-imran

      I realized what I wrote was about Pakistan but it probably applies to Afghanistan, a country that probably has to import its energy. If its “rogue” Taliban government is cooperating with NATO, it probably is refusing imports from its nearest neighbors such as Iran or Russia.

      I tried to look up some information on Afghanistan’s trade with its neighbors and it’s spotty.it does look like there there is some trade between Afghanistan and Iran but it’s unclear as how much fossil fuel products are being sent to Afghanistan from Iran.

      Trade between Russia and Afghanistan exists but there is almost no information on quantity of energy imports. but according to https://oec.world/,most of what Afghanistan imports from Russia is seed oil.

      • Fast Eddy says:

        They still have lapus lazuli which was a hot trade item back in the day….

        I am sure they could send child brides to the Saudis… and some of those ‘dancing boys’…

        They have lots of trained Jihadists… the CIA is always in the market for some of those…

        Other than that..

    • 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:

      Six children! This is at least part of the underlying problem. We have been “helping” Afghanistan in recent years, but population has exploded.

    • Fast Eddy says:

      take ‘food from the hungry to feed the starving’

      Well well well … that will solve the problem won’t it! hahahahahahahahahahahahahahahahahaha

  37. Michael Le Merchant
    Michael Le Merchant says:

    Soaring prices at the CT gas pump draw 200+ accusations of price-gouging. They’re difficult to prove.

    Accusations of price-gouging predictably follow the skyrocketing cost to fill up at the gas pump, but Connecticut officials can’t easily prove it.

    The office of Attorney General William Tong said it has received 227 complaints of price-gouging, accounting for about 20% of the state’s 1,156 gas stations. His office investigated 103 that drew an “inquiry, a conversation, a visit from an investigator,” Tong said. Letters to gasoline retailers sought details on prices charged to customers and paid to suppliers, profit margins and other information.
    https://news.yahoo.com/soaring-prices-ct-gas-pump-095300524.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:

      Politicians tend to take the side of the customers, rather than oil companies. They want to be re-elected. The detail that they overlook is that without much higher prices, production cannot go on.

  38. Michael Le Merchant
    Michael Le Merchant says:

    China’s shipping industry readies for surge in demand as Shanghai restarts its export machine

    Export volumes are predicted to jump at Shanghai Port, the world’s busiest in terms of container throughput, as the city reopens after a two-month lockdown

    Demand for ocean freight services and container shipping costs are expected to tick up as firms from Shanghai and surrounding areas rush to get goods out
    https://www.scmp.com/economy/china-economy/article/3180342/chinas-shipping-industry-readies-surge-demand-shanghai

    • 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 economy doesn’t seem to be resilient enough to handle much of any kind of surge in demand.

  39. Michael Le Merchant
    Michael Le Merchant says:

    Red-Hot Coal Prices Threaten Even Higher Power Bills

    Resurgent power demand and Russia’s war in Ukraine are putting pressure on supplies as inventories remain low

    Natural gas isn’t the only power-plant fuel on fire this year. Thermal-coal prices have soared from Appalachia to Australia, threatening more increases in manufacturing costs and power bills this summer.

    Futures for coal delivered to northwestern Europe have risen 137% so far this year, to $323.50 a metric ton as of Wednesday. The benchmark price in the Pacific region, set at an Australian export facility, is up more than 140% this year. Cash prices in central Appalachia have climbed 40% in 2022—and more than doubled over the past year—to $129.65 a short ton last week, the highest price on record.
    https://www.wsj.com/articles/red-hot-coal-prices-threaten-more-increases-in-power-bills-11654167025

    • 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 world doesn’t have enough natural gas or coal. No wonder prices are high!

      • Nope.avi says:

        I wonder where all this demand for coal is coming from. I thought that the lockdowns reduced the economic output. After the lockdowns were lifted, many economies were struggling to increase output.

        • 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:

          Pretty much everywhere, economies are trying to come back after lockdowns. This is one of the forces pushing up coal prices.

          Another thing is that the world seems to have hit “peak coal.” There is nothing it can do to raise coal production, without greatly raising coal prices.

          A third issue is natural gas problems. Natural gas production was already too low, relative to demand, before the Ukraine conflict. Now there is a push to get away from natural gas to coal, but the coal isn’t really available. When it comes to electricity production, coal and natural gas can substitute for each other, if there is sufficient generation capacity available.

    • Fast Eddy says:

      I am very disappointed with Harry’s lack of output… Harry — Michael is outgunning you… you need to up your game and feed us more doom p orn… we demand more… esp videos

      • Xabier says:

        Long holiday weekend here in the UK, to celebrate the Jubilee of ‘Get a Jab’ Lizzie, so hopefully Sir Harry is taking a well-earned, whisky-soused rest, and not blown off that island by the utterly miserable weather!

      • Fast Eddie…Harry can only post HALF of his output here, because of folks like YOU!
        He has his own webpage and is generous enough to post the Economy part of it for us all here. Thank you Harry!!!
        One reason I still come here is Harry …even though I’m a member of his website.

  40. Michael Le Merchant
    Michael Le Merchant says:

    Coal prices are way up and long-term commitments from customers are hard to find

    “Any power plant that’s relying on spot market coal right now is quite worried,” said Akshaya Jha at Carnegie Mellon University

    Many plants switch to natural gas when coal prices spike, he said, but natural gas prices are at record highs too. And for those who still only use coal? “They may have to shut down just because coal is simply isn’t available on the spot market.”
    https://www.marketplace.org/2022/06/02/coal-prices-are-way-up-and-long-term-commitments-from-customers-are-hard-to-find/

    • 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:

      EIA, earlier this year, was claiming that electricity plants would switch to coal, when prices for natural gas rose. The US is past “peak coal” so this doesn’t work well.

      Natural gas providers have been unhappy for a long time over the ridiculously low prices they have been getting for natural gas. They have very much been “pushing” to send more natural gas overseas, so as to get the US natural gas price up. This will not make electricity producers happy. It will also not make buyers of electricity happy. Electric vehicles become much less feasible, especially as nuclear comes off-line, leaving the system with an inadequate amount of fuel.

  41. Michael Le Merchant
    Michael Le Merchant says:

    Poles told to gather firewood amid soaring energy prices

    Authorities in Poland reminded citizens on Friday they can forage firewood from forests to keep warm amid soaring energy costs in the country.

    The government said it was taking steps to make it easier for people to collect firewood in an effort to ease the pressure created by sky-rocketing energy bills and shortages of coal.

    “It is always possible, with the consent of foresters, to collect branches for fuel,” said deputy climate and energy minister Edward Siarka.

    Opponents of the ruling ‘Law and Justice party’ said the comments showed it had not got a grip on the wider economy. Inflation in Poland has climbed to 14 per cent in recent weeks, with fuel prices hitting 8 zlotys ($1.87) per litre. The average monthly wage in Poland is around 7110 zlotys ($1800).
    https://www.euronews.com/my-europe/2022/06/03/poles-told-to-gather-firewood-amid-soaring-energy-prices

    • 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:

      Good idea! Next will be an introduction to hunting and gathering of food, rather than just fuel.

    • Fast Eddy says:

      When flying into haiti I noticed there were trees as we passed over the Dominican… but the border was very clearly noticeable because there suddenly were not trees… they have cut all of them down

      I have been to Poland – there are forests… give it a year…

  42. Yoshua says:

    Barbecue comes from Caribbean cannibals

    Barbecued babies are delicious

    The humane thing is to inject them all

    • ivanislav says:

      “there is very little proof that Hickeringill’s tale of cannibalism in the Caribbean is even remotely true.”

      https://en.wikipedia.org/wiki/Barbecue

    • Fast Eddy says:

      They favoured young children in the early 1920’s famine in the Soviet Union… it was common to eat them … they also ate people who had just died… while the meat was still fresh.

      Imagine what happens when the entire food supply chain ceases to exist. Supermarkets empty.

      Anyone with a garden quickly torn to pieces by the hungry hordes. Hungry bad guys going house to house preying upon the weak — and taking any food they have stored in their pantry…..

      The desperation is gonna bring out the worst in everyone… no police. No military. Just hungry dangerous humans — doing whatever it takes to survive.

      UEP = good. Admit it

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