A cautionary tale - China, coal and derivatives

| No Comments

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

March 2023

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

About this Entry

This page contains a single entry by DaveH published on October 1, 2021 2:24 PM.

Good news from The Hill was the previous entry in this blog.

Back to work 'ya bum! is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Monthly Archives

Pages

OpenID accepted here Learn more about OpenID
Powered by Movable Type 5.2.9