Overreach..

 

Tankers....

 

Six months into Russia’s war on Ukraine, Russia's oil output has continued to exceed expectations. According to data from the Institute of International Finance (IIF), Russian oil shipments hit their highest ever August level this month, with Greek-owned tankers playing the biggest role in helping Russia's oil get to international markets. 

IIF chief economist Robin Brooks has tweeted that the capacity of oil tankers departing Russian ports--a proxy for exports--came in at just under 160 million barrels in August, more than in any August in any prior year.

 The sanctions against Russia have a great sound byte, but that is just it. A matter of fact it hurts Western Europe and USA much more.

Inflation Day..

 

Mikhail..

Mikhail Gorbachev, the final leader of the Soviet Union and a reformer who helped end the Cold War and lead his country from communism to capitalism, died Tuesday at 91, according to the Gorbachev Foundation.

“Mikhail Sergeevich Gorbachev died this evening after a serious and long illness,” the Central Clinical Hospital reported, according to Interfax.

Born in the village of Privolnoye, Gorbachev grew up a committed communist during World War II. He wound up winning a Nobel Peace prize in 1990 for helping end the Cold War.

When pro-democracy rallies began in Poland and swept across the Soviet bloc in 1989, Gorbachev did not send in Soviet tanks to crush the uprisings.

But within two years, the Soviet Union began to disintegrate as the captive Baltic nations of Lithuania, Latvia and Estonia peeled away and other nations that had long been under Moscow’s yoke sought independence.

Innocent..

 

Hillary..

 

No..

 

call it..

 

Cost..

 

All are done to keep the Democratic Party in power. Wasteful spending, blocking energy security, avoiding dealing with the "transitory" inflation, National Security claims, Defending Democracy claims, fighting Dictators, Creating tension with China, extend the war in Ukraine, Sanctions that impacted countries, causing recessions, impacting the little people in US and around the globe, is a small price to hold on to the power. Just a thought.

Whopper..

 

The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that's not necessarily because of higher interest rates.

"We will have a recession because we've had five months of zero M2 growth, money supply growth, and the Fed isn't even looking at it," he told CNBC's "Street Signs Asia" on Monday.

In recent months, money supply has stagnated and that's likely to lead to an economic slowdown, Hanke warned.  "We're going to have one whopper of a recession in 2023." 

Meanwhile, inflation is going to remain high because of "unprecedented growth" in money supply in the United States, Hanke said.

Historically, there has never been "sustained inflation" that isn't the result of excess growth in money supply, and pointed out that money supply in the U.S. saw "unprecedented growth" when Covid began two years ago, he said.

That is why we are having inflation now, and that's why, by the way, we will continue to have inflation through 2023 going into probably 2024," he added.