Quick Overview is up to date

 1 Year relative performance:

Oats performing as advertised. So far.

 

Later

Quick Overview is up to date

Notes today: "some" of the current problems.

• The S&P 500 fell 2% as fears over a government shutdown grew following the refusal by Senate Republicans (head in sand)
  of a debt-ceiling suspension. 
• The Nasdaq 100 had its worst day since March and the Dow Jones followed suit. 

• The world economy is facing inflation from surging energy prices at 3 year high. 
• Natural Gas at 7 year high. 
• Cotton above a buck. 
• Oats (they know) all-time high. 

• German import prices rose by 16.5% YoY in August most since the 1980s, after 15% in July, 12.9% in June, 11.8% in May.. Natural gas jumped a whiopping 177.5% in Aug & oil by 63.6%.

• China is literally out of gas (energy is being rationed) while they are sitting on millions of unsold apartments. 

• 10-year treasuries up 1.55%. Liquidity may be less plentiful sooner than anticipated. 

• The recovery is slowing due to the ongoing pandemic. 

• Yellen told Congress that unless the debt ceiling is lifted, the U.S. will effectively be out of cash by Oct. 18. Republicans (head in sand) are “now” of course united in opposing a  lifting of the ceiling. 

• Senator Elizabeth Warren opposes a new term for Jerome Powell calling the Fed leader a “dangerous man.” 

• Is Biden’s $3.5 trillion economic agenda alive?  when and by how much?
• In deep red West Virginia, Biden’s $3.5tn spending proposal is immensely popular. Are you paying attention Manchin? 

• Voter protections appear to be fading away...

So that no one gets depressed I’m ignoring  other current problems.😏

 

 

Later

 

FT: The real risk from Evergrande

The China Real Estate / Evergrande  disaster   has everyone watching Iron Ore

Quick Overview is up to date

John Auther's: China’s Evergrande Moment Is Looking More LTCM Than Minsky. The Chinese government's likely response implies a nasty and messy market, but not an all-out implosion.

Volcano erupts on the Spanish island of La Palma, September 19

Hollywood fantasy? Tidal wave disaster is just waiting to happen

Median US new home price divided by median US houshold income

The median price of a new home in the US is now 5.8x higher than the median household income.

Bloomberg: The Global Housing Market Is Broken, and It’s Dividing Entire Countries

 

Expensive Food

 

Apple and Google cave to Putin.

Never thought I’d see the day.

Later

 Quick Overview is up to date

The cartoon I drew 20 years ago --   Mike Luckovich 

No comment

Why nations that fail women fail 

And why foreign policy should pay more heed to half of humanity

There is growing evidence that Hillary Clinton was on to something when she said, a decade ago, that “The subjugation of women is…a threat to the common security of our world.”

That index of sexist customs, had it existed 20 years ago, would have warned them how hard nation-building would be in Afghanistan and Iraq. Today, it suggests that stability cannot be taken for granted in Saudi Arabia, Pakistan or even India.

U.S. Housing Consumer Price Index YoY change at 10 + year high..

Notes today: 

• Salesforce offers to relocate thousands employees and their families from Texas if they’re concerned about the ability to seek reproductive care..

• A new U.S. government study found unvaccinated people are 11 times more likely to die of Covid-19 as the delta variant continues to kill thousands of them daily while also triggering so-called breakthrough cases among the vaccinated. 

• A Florida appeals court said Friday that  Ron DeSantis’s ban on school mask mandates can be enforced for now – 

• Bloomberg: Almost "all" the top Wall Street banks have come out this week with a nervous message “a storm is brewing” in the U.S. stock market.  (I find “ALL” a bit encouraging)

• Bloomberg: The Biden administration is weighing a new investigation into Chinese subsidies and their damage to the U.S. economy as a way to pressure Beijing on trade – (further frosty China relations). 

• Corn: USDA's September Crop Production report showed a yield of 176.3 bu. per acre, which is 1.7 bu. per acre higher than the August report, and 4.3 bu. per acre above last year’s crop. 

• Soybeans:  The report forecast soybean production to increase 1% from the August forecast, at 4.37 billion bushels. That’s 6% higher than last year’s final production number. 

• The biggest production increase by USDA Friday came to cotton. USDA adjusted its all cotton production forecast 7% higher, now at 18.4 million, 480-pound bales.  

• Bloomberg: Apple was ordered by a federal judge to allow app developers to steer consumers to alternative payment methods. The ruling for plaintiff Epic Games may shrink a key revenue stream for the world’s most valuable company, which faces a range of antitrust suits. Analysts estimate Apple’s App Store takes in more than $20 billion a year with a profit margin above 75%. Apple is expected to appeal.