Gold Outlook Report 2023

The substitution of economic and moral principles by emotional imperatives does not represent a technical failure, but a profound philosophical divergence about human nature and the function of the state.

Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute). We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...

And Then The World Changed... Authored by James Howard Kunstler, "Europe’s own regulatory architecture turned off Europe’s own energy supply. And America. . . on the other side of the Atlantic with a full tank of gas, watched it happen.” - Jeff Childers Let’s pause for a moment amid all the excitement to address an abiding mystery of these times: why does the news media seem to be rooting for American failure in the Iran operation? Or more generally, how did the media become handmaiden to the Lefty-left and all its ancillaries? How...