Money and Recession

China Accelerates Ultra-Deep Drilling To Boost Domestic Oil Supply Submitted By Tsvetana Paraskova of OilPrice.com, China is accelerating efforts to produce more oil from ultra-deep formations to boost domestic supply amid continued global market turmoil. State-owned giant PetroChina has produced more than 26 million tons of oil equivalents from reservoirs dug 6,000 meters (19,685 ft) below the surface in the Hade-Fuman oilfield in the western region of Xinjiang, state media report. Reservoirs at 6,000 meters and deeper are considered ultra-deep and more expensive and technologically challenging to drill. China has drilled a total of...

A Pause To Negotiate A Deal? Some Caveats... Authored by Peter Tchir via Academy Securities, Basically we wound up at the better end of our “base case” in yesterday’s Spaghetti Western, and you could argue we made it all the way into our best case of “ceasefire” (I’m reluctant to label it that, as you will see, but it is touching on that end). I do think we are far from a “real deal”. In any case, markets are responding according as both sides send people to Pakistan to negotiate a deal. Stocks are...

The Two Lineages Of Liberty Authored by Philippe Lemieux via Mises Institute, Liberty's history is often presented as a direct consequence of the Enlightenment: inherited authority was subjected to reason, persecution gave way to toleration, monarchy to constitutional government, and privilege to individual rights. In this account, classical liberalism leads naturally to Austrian economics and modern libertarianism. That sequence is useful but incomplete. Liberty developed through the convergence of two lineages. The first is the modern lineage of Enlightenment criticism, which required political power to justify itself before reason. The second is...