Bessent Defends US Dollar Swap Lines As UAE Considers Formal Funding Request

WTI Dips After Big Crude Inventory Build, US Production Slows Oil prices are down overnight but playing headline roulette with every word that comes out of any leaders' (or non-leaders') mouth as ceasefire chatter (now denied) has WTI riding a roller-coaster (but below $100 once again as we write). “Flows and actions matter more than words,” said Giovanni Staunovo, a commodity analyst at UBS Group AG. And while inventory data may not be the market-moving event in this new regime, it is useful to see signs of stockpiling or demand. DOE Crude +5.45mm (+10.3mm...

"I'm Not Racist": Musk Slams Snooty Leftist Interviewer, Says "I Support The Normal People" Authored by Steve Watson via Modernity News, During a terse exchange, Elon Musk told the virulently leftist editor-in-chief of The Economist that civil war in Britain is inevitable on current trends - driven by rapid migration of people whose beliefs clash with Western civilisation. In response, Zanny Minton Beddoes accused Musk of supporting the "far right," and amplifying racists. Musk called the coming confrontation a "reckoning," rejected the racist smear, and turned the tables on an interviewer determined...

We Want One Solution, But One Solution Can't Solve Our Polycrisis Authored by Charles Hugh Smith via Substack, Whatever the problem, our minds seek one solution--preferably a simple one--to escape the trackless wilderness of complex, inter-connected problems. Problem-solving boils down to identifying the key problem and finding a fix that’s easy to understand and straightforward to apply. Our minds rebel when confronted with polycrisis, a knotted mess of inter-connected problems, and so we apply solutions we already have in hand. As I explained in previous Musings, this leads us to modify our...