The FT ran a piece yesterday saying that removing Russia from Most Favoured Nation status in the WTO was not a great idea. It’s here but it might be behind a paywall. Sorry.
The article makes (at least) two arguments. One is that Russia …
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China has been hit by many Omicron outbreaks. It’s lockdown strategy is failing, but the market is assuming that it will shut down its economy again, refusing to consider changing tactics. The war grinds on. Evidence seems to be mounting that the …
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“The first casualty of war is the truth.” “They are not even pretending anymore. — Ben Hunt”
Control of the narrative is very important. We all learn that to get our own way, we have to persuade others of the correctness of our …
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Biden, his advisors, Kamala, the Twitter amanuensis, whoever it is that writes Biden’s tweets is clueless about energy. He uses the usual argument that it’s cheaper to use renewable energy, and so not using oil will save us money and benefit us …
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Today was an explosively risk-on day. A few things happened: UAE suggested that OPEC would sell more oil, Zelenskyy said he’d talk to the Russians, people seem to have decided that the Fed and the ECB will hike less, or later than they were …
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The war in Ukraine is going on too long. The west has badly miscalculated Putin’s intentions, and it’s not clear what credible threats now will deter him from driving on until he’s conquered Ukraine. Economically, having Ukraine once more fall within Russia …
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This is an insanely good essay on what it means to move money internationally, by someone who really understands what money is. You need to read it (H/T to Matt Levine who mentioned it in today’s column). What Patrick McKenzie points …
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The war in Ukraine grinds on. More talks are scheduled, but no obvious resolution is in sight. The dollar strengthened, but the SPX did too, although the latter has been extremely choppy. Ark Innovation, as for many of its constituents, was extremely volatile.
Energy and …
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