Consumer Credit Smashes Estimates As Credit Card Debt Hits New All-Time High

US Oil Premiums Hit Record High As World Scrambles For Crude By Charles Kennedy of Oilprice.com The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz. WTI Midland is being offered for July delivery in north Asia at premiums of between $30 and $40 per barrel, depending on the benchmark against which they are marked, trading...

Warsh's Mark Antony Moment Submitted by Peter Tchir, Academy Securities — Macro Strategy Warsh's Mark Antony Moment I really wanted to go with Warsh is “puttin’ on the foil” as the title for our Jackson Hole preview, but I’m told the Hanson Brothers might not be as iconic as I thought. In any case, of all my failings as a parent, getting my kids to finally watch Slapshot is one of the easier ones to correct. I felt the “vibe” of Warsh “puttin’ on the foil” in the green room as he...

Net Zero & Statism Deliver Stagnation: How Interventionism Undermined Growth In The UK & Canada Authored by Daniel Lacalle, Governments are terrible at picking winners and even worse at choosing losers. Net zero and interventionist “Keynesian” policies in Canada and the UK have proven that government intervention has created a worse outcome than anyone would have expected. The result is higher costs, distorted incentives, and weakened productivity growth, with increased dependency on fossil fuels to attend to peak demand, exactly what Austrian economists predicted. What has been sold as a recipe for...