Tim Kruyer

[Kirk Lubimov @KirkLubimov]

All eyes are on Canada.

Statement from G7 leaders:

We commit to accelerate the diversification of energy supply routes in order to reduce global vulnerability to the Strait of Hormuz and to increase our energy stocks. We welcome the potential for Canada to deliver significant additional capacity to global markets in the coming years.

Time for Canada to deliver what it keeps promising.

[unusual_whales @unusual_whales]

Trump says he "would rather not have" his North American trade deal, per Axios

[Ray Dalio @RayDalio]

I believe we are currently on the brink. We are entering a particularly risky period expected between the 2026 midterm election and the 2028 presidential election. At the same time, the monetary situation is becoming increasingly threatening. The U.S. government currently spends $7 trillion while only taking in approximately $5 trillion, resulting in 40% overspending. While the government has a significant amount of debt to finance, the demand for that debt is falling. This decline in demand is driven by standard supply and demand factors, as well as fears from debt holders regarding potential sanctions.
#geopolitics @edels0n

[Mohamed A. El-Erian @elerianm]

The new Federal Reserve Chair, Kevin Warsh, adopted a highly welcome change during his opening remarks at the press conference following today's policy statement.
Underpinning his emphasis on accountability, his delivery was noticeably more open, engaging, concise, and honest.
In addition to confirming that he did not submit "dots" given his well-founded (and correct) discomfort with the Summary of Economic Projections (SEP), he announced the creation of five task forces to take a fresh look at areas I have long argued are in deep need of reform:
Communication
Balance sheet management
Data sources and uses
Productivity and jobs in a transforming economy
The inflation framework
Bottom line: A much-needed, reform-oriented breath of fresh air.
#economy #markets #federalreserve #kevinwarsh @federalreserve

[Tackle Trading @TackleTrading]

𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐃𝐨𝐧’𝐭 𝐆𝐮𝐞𝐬𝐬. 𝐓𝐡𝐞𝐲 𝐂𝐨𝐧𝐟𝐢𝐫𝐦.

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[zerohedge @zerohedge]

Germany's Big LNG Deal With Canada May Never Deliver A Single Cargo https://t.co/TqOXi3OxGx

[zerohedge @zerohedge]

After Horrific Belfast Migrant Knife Attack, U.K. Officials Think The Problem Is X https://t.co/l6VnpTdGvg

[Tim Kruyer @TimKruyer]

Canada’s Regulations Make Proposed West-Coast Pipeline ‘Unfinanceable,’ Cenovus Chief Says

The proposed new Alberta-B.C. oil pipeline can’t secure financing from the private sector because of Canada’s existing regulatory framework, Cenovus Energy CEO Jon McKenzie said at the Global Energy Show in Calgary this week.

Ottawa’s regulatory approvals for the pipeline are directly linked to the development of the Pathways CCS (carbon capture and storage) network, as well as for Alberta to increase its industrial carbon tax.

Why It Matters: McKenzie said the Pathways project could cost as much as $30 billion, adding that the “reality is that Canadian oil and gas producers are not investing much beyond sustaining capital today.”

[Elon Musk @elonmusk]

Murderous migrants beheading innocent people in their home town is what’s making people angry, not “social media”!

[Danielle Smith @ABDanielleSmith]

The federal government’s decision to extend its firearms amnesty once again is an admission that its firearm confiscation scheme is ineffective and deeply flawed.

Ottawa should make the amnesty permanent and abandon its plan to confiscate legally acquired firearms from law-abiding Canadians. Gun confiscation programs will never stop gang violence, cross-border gun smuggling, and the criminal misuse of firearms. We will continue to use every lawful tool at our disposal to shield Albertans from any form of firearms confiscation.

Alberta believes in a principled, evidence-based approach to firearms policy that targets violent criminals and illegal guns, not responsible firearms owners who follow the law.

(And yes. That is a picture of me skeet shooting with friends.)

[JayGen 𝕏 er🇨🇦 @JayGenXer]

Listening to @GadSaad break down Canadian taxes on Sean Hannity… aren’t you just excited to be Canadian??

From January 1st until the end of August, you work for free for the government.

Only starting in September do you finally get to keep what you actually earned.

Provincial tax capped at 25.75%. Federal tax at 33%. Already deep into the 50s before you even spend a dollar.

Then add the double sales tax, carbon tax, gas tax, property tax, and school tax — and you’re left with roughly 30 cents on every dollar you make.

This isn’t “contributing to society.” This is modern serfdom dressed up as compassion.

The same government that wastes billions on ArrivScam, failed apps, and fax machine replacement programs now expects you to hand over eight months of your life every single year.

And they still have the nerve to tell you there’s no money left for actual Canadians.

Wake up. This didn’t happen by accident.

#cdnpoli #TaxFreedomDay #LiberalFail #CanadaFirst

[Mohamed A. El-Erian @elerianm]

US headline CPI inflation was in line with the consensus forecast, resulting in the first 4%-handle (4.2%) in three years. Core inflation was softer than expected, suggesting limited spillover in May.
#economy #inflation #markets

[Don R. Campbell @DonRCampbell]

Canada’s debt has grown too large for maneuverability. Among 40 high-income nations, the Fraser Institute found Canada posted the third-largest rise in government debt since 2019 and the highest increase in the G7 (5). #cdnpolitics

[zerohedge @zerohedge]

Goldman Partner Warns The Circularity Of The AI Ecosystem "Is Becoming Harder To Ignore" https://t.co/1fOFB6P2in

[Mohamed A. El-Erian @elerianm]

While on inflation releases, the most striking takeaway from China’s data released earlier today is the widening gap between CPI and PPI.
Consumer price inflation came in below consensus at just 1.2%, while producer price inflation hit 3.9%.
This growing divergence is likely to reflect a combination of consumer resistance to higher prices and a degree of moral suasion.
#economy #markets #china #inflation

[unusual_whales @unusual_whales]

China increased its nuclear warhead stockpile by 20 over the past year, reaching a total of 620, according to a Stockholm International Peace Research Institute

[Mossad Commentary @MOSSADil]

IRAN PRAISES, THEN DENIES?
Iranian parliament spokesman Ebrahim Rezaei reportedly praised the person responsible for downing an American AH-64 Apache near the Strait of Hormuz, calling it a blow against the United States and saying he would be honored as a hero in Iran.
Then the regime claimed it was not responsible.

[Eric Balchunas @EricBalchunas]

I knew this was going to happen. 2x SpaceX ETFs launching same day as SpaceX IPO. Time has collapsed.

[unusual_whales @unusual_whales]

Insolvency volumes in Canada hit highest since 2009 amid strain among homeowners, per Equifax