Best question of the year?

Although the year is not over, this question must be in the running: https://twitter.com/TheLastBearSta1/status/1438171695685283847

the great unwind

keeping busyWith Monday's 8% drop in iron ore fines to $104 (below the $120 level cited as necessary for survival) and this morning's 2% plunge in COMEX copper we are now seeing the unwind phase of yet another Ponzi financing scheme. This is where insolvent entities imported iron ore or copper for the sole purpose…

China ponzi collapse follow up

coverage picks upAbout a month has passed since I wrote the Ponzi has crashed and now the reports are coming in. Whether it is China’s biggest private shipbuilding company seeking a bailout on account of its 20,000 employees, or the lovely ghost city of Ordos, perfect for skateboarding, seeking help to cover their payroll (it is difficult…

Yum says Q4 China sales to fall

slowingA very interesting confirmation of conditions on the ground from Yum Brands Inc., which operates the very successful KFC, Taco Bell and Pizza Hut chains with over half of its profits derived from China operations (Reuters):same restaurant sales are expected to be down 4% in Q4 (but rise 4% in Yum Restaurants International and rise…

daily noise 2.15.2011

mostly downPBR, BSBR, NOK (good effort Tim Seymour), BCS up stronglyenergy:Exxon Fills Reserves Mostly With Natural Gas XTO actually.Valero CEO: Brent-WTI differential below $18 in ‘11RU: Industrial Output: 6.700 %JOGMEC to test enhanced oil recovery in Vietnam an example of carbon dioxide injection. So is Dr. Suzuki’s concern of protoplasm conversion of carbon dioxide into methane relevant at such depths? There…