Holding the line – it’s a phrase that flows through history. Poetic imagery. Like the Battle of Iswandllwana: At Thermopylae, King Leonidas I of Sparta faced overwhelming odds from the Achaemenid Empire of Xerxes I over the course of three days during the second Persian invasion of Greece. As Herodotus tells us: “Here they defendedContinue reading “Last Stand”
Author Archives: econophysics2020
Capitol Police Could Use a Refresher on Weapons Safety
US military weapons training provides a set of “rules” for safe handling and use of firearms. Army, Marines, Navy, etc., they’re all very similar. Here are 5 of the most important: Rule 1: Treat every weapon as if it were loaded.Rule 2: Never point a weapon at anything you do not intend to shoot.Rule 3:Continue reading “Capitol Police Could Use a Refresher on Weapons Safety”
Monetary Politburo News
The “Martens” at Wall Street on Parade weighed in today on the dynamics of endless money creation: https://wallstreetonparade.com/2021/02/wall-street-sends-a-message-to-the-fed-we-have-run-out-of-places-to-stuff-your-treasuries/ The practical dynamics. As in “where all this sh___ goes” dynamics. Recall we have a monetary politburo for all sorts of reasons you likely heard before – bankers want to offload their liquidity risk onto the public,Continue reading “Monetary Politburo News”
27% of Household Income now comes from the Government
USBEA Personal Income and Outlays: https://www.bea.gov/news/2021/personal-income-and-outlays-january-2021 Let’s think in terms of a good news/bad news joke. Personal income increased $1,954.7 billion (10.0 percent) in January according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $1,963.2 billion (11.4 percent) and personal consumption expenditures (PCE) increasedContinue reading “27% of Household Income now comes from the Government”
Second Largest Gas Withdrawal Recorded
EIA: https://www.eia.gov/todayinenergy/detail.php?id=46916 Significant demand for natural gas in mid-February led to the second-largest reported withdrawal of natural gas from storage in the United States, according to the U.S. Energy Information Administration’s (EIA) Weekly Natural Gas Storage Report (WNGSR). Weekly stocks fell by 338 billion cubic feet (Bcf) in the week ending February 19, 2021, nearly three timesContinue reading “Second Largest Gas Withdrawal Recorded”
Ron Burgundy: Boy, that escalated quickly. I mean, that really got out of hand fast.
Was looking so good right up to crashing support. Wedges in bonds and stocks, to be precise. Can you say “fear and loathing?” I see a red door and I want it painted black. Count on Tim Knight (Slope of Hope) to explain this in metaphysical terms we can all understand: https://slopeofhope.com/2021/02/the-problem-with-distortion.html My point isContinue reading “Ron Burgundy: Boy, that escalated quickly. I mean, that really got out of hand fast.”
ERCOT Margin Call
ERCOT is a “just-in-time” energy market without a capacity market and missing the ability to “call” adjacent systems or ready-to-go capacity to cover supply shortages. And so, – surprise, surprise – market clearing prices can get rather spikey when confronted by high demand and limited capacity. As reported by Zero Hedge: https://www.zerohedge.com/commodities/texas-grid-operator-warns-defaults-credit-crisis-develops The Texas energyContinue reading “ERCOT Margin Call”
Jumpin’ Jack Flash It’s a Gas, Gas, Gas
In this morning’s “Today in Energy” (https://www.eia.gov/todayinenergy/detail.php?id=46896), US EIA explains what happened with the freeze hit: During the cold snap that affected much of the central part of the country, U.S. dry natural gas production fell to as low as 69.7 billion cubic feet per day (Bcf/d) on February 17, a decline of 21%, orContinue reading “Jumpin’ Jack Flash It’s a Gas, Gas, Gas”
Dr. Judith Curry on Estimating Climate Risk Using Models that Fail Backtests
IPCC AR5 (2014) presents 4 emission pathways which are at the heart of the climate change debate. There are a range of other topics that are also debated – notably, the atmospheric and ocean physics effects from GHG concentrations assumed. Those effects are further attenuated by factors that modeled by IPCC such as a moreContinue reading “Dr. Judith Curry on Estimating Climate Risk Using Models that Fail Backtests”
Hi-Yo, Silver! Away!
Tim Knight (Slope of Hope): https://slopeofhope.com/2021/02/winding-up-for-the-pitch.html#more-193985 Silver is looking better by the day……… What SLV needs to do is break above 26.3, then we’re probably off to the races. The long-term chart of silver is very encouraging. This is all augmented by the fact that our friends in Gainesville think gold and silver are totallyContinue reading “Hi-Yo, Silver! Away!”
Econophysics2020 