Monday 2, May 2022
It was a public holiday in the UK today, and I think across much of the developed world. US markets appeared to be open, but I didn’t check the volumes.
Stocks bounced back, but only after a very volatile trading day. The FANG+ gang did well, Tesla rising 3.7%, but still no higher than the level it was at last October. Bonds were generally down (yields up) in all but the markets with a significant degree of credit risk (Brazil for example, but also Russia, India, South Africa and China).
DXY was up again. This is turning into a one-way bet. The argument is that there is a dollar shortage: a shortage of collateral and safe assets, which is driving up the price, i.e. rates, for USD, which will cause a downturn. For a fairly heretical, but so far correct, interpretion, see I’m ‘Officially’ Calling It: Euro$ #5.
Charity
The left is about rescuing the oppressed. The idea is to give them money (i.e. resources), which can be taken from the rich. Charity is based on the same principle. For various reasons, I’ve been exposed to quite a lot of advertising on daytime UK TV. A huge part of this is by charities, who show all sorts of heart-rending footage of people and animals in misery.
I am not sure what the solution for animals is: maybe impose more severe penalties for those who break the law by mis-treating animals. For humans, almost certainly the solution is to stop the rulers of their country siphoning off money to Switzerland and the UK, to name just two of the many western countries where kleptocrats to choose to keep their money.
I understand that we have a desire to help people, but the citizens of (for example) Nigeria do not need charity. They need less corruption at the top. It’s hard for private charities to do much about this, but it is something that governments could do, but choose never to attempt. The UK government seems willing to turn a blind eye to all this. It’s not as though what I’m saying is not common knowledge (see this for example). It’s just that politicians are afraid of telling the truth because … why? Because they want to become consultants for BAE Systems? Because they know that UK voters don’t give a damn (except they would dearly love for Nigerians not to flee from their home country to escape the poverty which is a consequence of bad governance). It would just be nice to see a single MP come out in public and call out a kleptocrat, before he has invaded a neighbouring country.
This is not someone who understands how the food supply chain works.
— HUNTSMAN 🇺🇸 (@man_integrated) May 1, 2022
The ship is sinking and these grotesquely incompetent midwits are valorizing the iceberg that hit it. https://t.co/F6OFP4UGgo
Image
“Art has a voice - let it speak.” ~ Rochelle Carr
— Teri (@TeriSelvaggi) May 2, 2022
Caroline Painting from Behind, 2002
© Rodney Smith pic.twitter.com/cTYhKQa6ed
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