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Europe is trouble, with event in Iran they are now seeing they are vulnerable in regards to LNG. Inflation ticked up .2%, this is not inflation this is a fluctuation. The inflation people are feeling is from the Biden admin. OPEC is ready to increase capacity, what happens to inflation. Trump trade deals incoming. The [DS] is losing every step of the way. The SC just ruled the nationwide injunctions are not constitutional. Trump can now continue with his policies, remember the judges they will nee to be impeached. Is Trump setting the Obama with U1. Lindsey is saying that 900lbs of Uranium is missing. Lindsey is an Iron Eagle. Iran was much more than people think. Its to expose it all.
Economy
https://twitter.com/CynicalPublius/status/1938402609364082979
Europe's LNG Gamble Exposed By Middle East War
The Israel-Iran conflict has driven up diesel, jet fuel, and gas prices.
With 20% of global LNG flowing through the Strait of Hormuz, even threats of disruption have raised EU gas prices by 20%.
Europe’s refusal to sign long-term LNG deals or develop local hydrocarbon resources is backfiring.
Oil and the security of its supply have stolen the media spotlight in the context of the new Middle East war, and with good reason. Ever since Israel first bombed Iran, diesel prices have soared, jet fuel prices have soared, and importers have been troubled. For Europe, the situation is even worse due to natural gas.
Europe has been hurt more than others by the diesel price surge because it has boosted its imports considerably over the past years. About 20% of the diesel Europe consumes comes from imports, and a lot of these imports come from the Middle East. The situation is not much different in jet fuel. Europe depends on imports and a solid chunk of these imports comes from the Middle East.
What’s true of these essential fuels is doubly true of natural gas—even though direct imports of gas from the Middle East constitute a modest 10% of total imports. Yet they constitute a substantial portion of global gas exports, so any suggestion of disrupted supply affects gas prices in exactly the same way it has affected oil prices—and makes a vital commodity less affordable for Europeans.
Europe needs to refill its gas storage caverns for next winter. Even if it cancels the 90% refill rate requirement, it still needs to buy a lot of gas, most of it on the spot market because of that aversion to long-term gas commitments it believes is part and parcel of the transition effort. And geopolitics has made LNG costlier—which will add billions to the refill bill.
Source: zerohedge.com
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https://twitter.com/KobeissiLetter/status/1938575712757133319
1. Sticky Services Inflation
Core PCE (which excludes food and energy) is heavily weighted toward services, such as housing, healthcare, and financial services.
Services inflation has proven persistent, especially in housing rent, insurance, and healthcare costs.
2. Labor Market Strength
The job market remains tight: unemployment is low and wages are still rising.
Higher wages boost consumer spending, which keeps demand elevated, especially in non-goods sectors like leisure,