BREAKING: Iran announces it is ending all negotiations with the US and vows to "completely" block the Strait of Hormuz, per CNBC.
Iran says it is ending negotiations due to repeated ceasefire violations including Israeli strikes in Lebanon.
Iran also threatens to block the Bab el-Mandeb Strait.
--- El Niño ---
(code purple)
This is truly insane.
The forecasts for El Niño values by the end of the year are climbing back to +3.7°C.
People, make no mistake. This is compared to the 1991-2020 base period.
The world powers have other goals than waging war for land and oil.
Japan and Europe will not be able to wait much longer, both will soon be forced to announce fuel rationing and restrictions otherwise if they don’t curb summer consumption hard they will have serious problems to make it through next winter
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“It’s costing us about $1,500 of cash per day to run 2 tractors.”
Ohio farmer says skyrocketing input costs are hammering American farmers.
“I spent many years buying potash for $90 a ton, and now it’s $670 to $700 a ton.”
“Our big problem is the input costs.”
“I haven’t seen anything this bad since the 1980s.”
Record (literally) Heat Dome for May builds over West-Central #Europe the next several days. Peak temperatures will reach 15° above normal in Spain, France and Germany as well as surrounding areas. Maximum temperatures will reach 39°C/ 102°F into next week, with the highest in SW Spain. #heatwave
Long-term gov't bond yields made new highs for the UK (orange), the US (black), Japan (red) and France (green) this past week. I've banged on for a year how markets' attitude to debt has fundamentally changed. The days of reckless fiscal policy are over...
https://t.co/wLyQataCjN
JPMorgan just published the scariest oil chart I’ve ever seen.
World inventories are in freefall.
And when this line hits 6.8 — the global energy system doesn’t slow down.
It breaks. 🧵
Lufthansa may end up refueling in Moscow as it is forced to consider refueling stopovers. It may also end up buying Russian food during the stopovers as the food crisis engulfs the EU.
We’re basically 2-4 weeks away from a global economic catastrophe.
Enjoy May because if things don’t change in the Strait of Hormuz we are never going back to the way things were.
The yield on 30-year Treasuries is above 5%, nearing the highest yield in twenty years. The move from 5% to 6% will be much quicker than the move from 4% to 5%, and the move from 6% to 7% will be quicker still. Given our sky-high debt, this move will trigger an economic crisis.
🩸 HUGE WARNING:
🇺🇸 Warren Buffett says that we have never had people in a more gambling mood than now
He warns that the US dollar could collapse and admitted he doesn't understand most of the stock market anymore.
$380,000,000,000 in cash is his answer because he believes things are about to get MUCH worse.
95yo man who has survived every crash, every war, every crisis of the last six decades just told you the market is a casino...
JUST IN:
🇺🇸🇮🇷 Calls from Iran for everyone to leave Qatar, UAE, Bahrain, UAE, Saudi Arabia and Kuwait IMMEDIATELY
Iranian professor Mohammad Marandi, who was a member of the Iranian negotiating team calls everyone must leave the UAE, Qatar, Bahrain, Saudi Arabia, and Kuwait immediately.
Sailors on all ships in the Persian Gulf must also prepare to abandon their ships.
“This is especially urgent for ships near the Strait of Hormuz, which will be the first to be destroyed. Time is running out.” - he announced
@asxpeasant@asxpeasant pls i am not australian. Are u sure they would screw up and make things worce.
I am interested in the processes and not sounds good :( the do not deserve trust