The Pentagon said Sunday a U.S. warship and multiple commercial vessels are under attack in the Red Sea.
‘We’re aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available,’ the Pentagon said, according to the Associated Press.” Meanwhile, "Gulf of Tonkin" is trending on X in the US. Source: Fox News, www.zerohedge.com
Fiat money debasement does have some strong polical and economical consequences
Javier Milei has just won Sunday’s presidential runoff against Economy Minister Sergio Massa. Javier Milei, a 53-year-old far-right economist and former television pundit with no governing experience, claimed nearly 56% of the vote, with more than 80% of votes tallied. Voters in this nation of 46 million demanded a drastic change from a government that has sent the peso tumbling, inflation skyrocketing and more than 40 percent of the population into poverty. With Milei, Argentina takes a leap into the unknown. He has promised to fix Argentina’s perennial economic problems by making drastic budget cuts, replacing the battered peso with the US dollar and shutting down the central bank. He will take office on December 10th.
“Millions of my people will die, but that's a sacrifice I'm willing to make" - Egypt’s Prime Minister
Source: WSJ, Wall Street Silver
Will oil prices react to the Israel-Gaza conflict?
A probability tree by Alexandre Kateb, CFA
Nobody can predict at the moment how the Middle East situation will unfold, but if history is a guide market impacts of geopolitical scares are usually short lived
Will it be different this time? Source: Michel A.Arouet
Bloomberg analysis on war potential economic and market impacts
Source: Bloomberg
Friendshoring / nearshoring is indeed happening...After nearly 20 years, the US is once again importing more from Mexico than China
Source: Bespoke
Trade recession across Asia? China just reported a deeper-than-forecast drop in exports
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms. That’s worse than what analysts had expected. A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to have dropped by 5% during that time, according to the poll. This drop is consistent with weakness just about everywhere in the region. Source: David Ingles, CNBC, Bloomberg
