Eaton Rapids Joe is a daily read for me.
Here, he talks about China's energy problems as a metaphor for the worlds financial status:
Another thought on the Chinese energy crisis
If you have been following the news then you are aware that hundreds of millions of people in China have been under rolling electrical black-outs and brown-outs. The crisis came out of nowhere. One week there was plenty of electricity. Then next week multiple provinces in northeast China had shortages.
I want to offer one way that could have happened.
The upshot:
Physical possession is 99.9% of ownership.
The financial and derivatives "economy" dwarfs the real, nuts-and-bolts economy. Everybody is getting rich laundering each others' bytes.
So true. Only way to go...
Leave a comment