ELIZA BLEU AND THE PERPETUAL TRAUMA MACHINE—PART 2

Israel is seeking to capture southern Lebanon. One Israeli official said that Tel Aviv plans to destroy the region.  Axios reports that US and Israeli officials said that Israel plans to take Lebanon south of the Litani River. “The goal is to take over territory, push Hezbollah’s forces north and away from the border, and […]

Germany's Economy At The Point Of No Return Submitted by Thomas Kolbe If anyone still needed a concrete figure to illustrate the dramatic state of the German economy, the Federal Statistical Office has now delivered it. The country’s investment ratio is negative, as depreciation exceeds nominal investments. Slowly but surely, the lights are going out. Public discourse in Germany often sounds monocaudal and lacks complexity. Regardless of which social conflicts, administrative difficulties, or economic issues are being debated, for the majority of Germans, the state is not the cause of many problems...

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...