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dreaminginthedeepsouth · 1 month ago

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LETTERS FROM AN AMERICAN

November 26, 2024

Heather Cox Richardson

Nov 27, 2024

Today presented a good example of the difference between governance by social media and governance by policy.

Although incoming presidents traditionally stay out of the way of the administration currently in office, last night, Trump announced on his social media site that he intends to impose a 25% tariff on all products coming into the U.S. from Mexico and Canada “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Trump claimed that they could solve the problem “easily” and that until they do, “it is time for them to pay a very big price!”

In a separate post, he held China to account for fentanyl and said he would impose a 10% tariff on all Chinese products on top of the tariffs already levied on those goods. “Thank you for your attention to this matter,” he added.

In fact, since 2023 there has been a drop of 14.5% in deaths from drug overdose, the first such decrease since the epidemic began, and border patrol apprehensions of people crossing the southern border illegally have fallen to the lowest number since August 2020, in the midst of the pandemic. In any case, a study by the libertarian Cato Institute shows that from 2019 to 2024, more than 80% of the people caught with fentanyl at ports of entry—where the vast majority of fentanyl is seized—were U.S. citizens.

Very few undocumented immigrants and very little illegal fentanyl come into the U.S. from Canada.

Washington Post economics reporter Catherine Rampell noted that Mexico and Canada are the biggest trading partners of the United States. Mexico sends cars, machinery, electrical equipment, and beer to the U.S., along with about $19 billion worth of fruits and vegetables. About half of U.S. fresh fruit imports come from Mexico, including about two thirds of our fresh tomatoes and about 90% of our avocados.

Transferring that production to the U.S. would be difficult, especially since about half of the 2 million agricultural workers in the U.S. are undocumented and Trump has vowed to deport them all. Rampell points out as well that Project 2025 calls for getting rid of the visa system that gives legal status to agricultural workers. U.S. farm industry groups have asked Trump to spare the agricultural sector, which contributed about $1.5 trillion to the U.S. gross domestic product in 2023, from his mass deportations.

Canada exports a wide range of products to the U.S., including significant amounts of oil. Rampell quotes GasBuddy’s head of petroleum analysis, Patrick De Haan, as saying that a 25% tax on Canadian crude oil would increase gas prices in the Midwest and the Rockies by 25 cents to 75 cents a gallon, costing U.S. consumers about $6 billion to $10 billion more per year.

Canada is also the source of about a quarter of the lumber builders use in the U.S., as well as other home building materials. Tariffs would raise prices there, too, while construction is another industry that will be crushed by Trump’s threatened deportations. According to NPR’s Julian Aguilar, in 2022, nearly 60% of the more than half a million construction workers in Texas were undocumented.

Construction company officials are begging Trump to leave their workers alone. Deporting them “would devastate our industry, we wouldn’t finish our highways, we wouldn’t finish our schools,” the chief executive officer of a major Houston-based construction company told Aguilar. “Housing would disappear. I think they’d lose half their labor.”

Former trade negotiator under George W. Bush John Veroneau said Trump’s plans would violate U.S. trade agreements, including the United States–Mexico–Canada Agreement (USMCA) that replaced the 1994 North American Free Trade Agreement that Trump killed. The USMCA was negotiated during Trump’s own first term, and although it was based on NAFTA, he praised it as “the fairest, most balanced, and beneficial trade agreement we have ever signed into law. It’s the best agreement we’ve ever made.”

Trump apologists immediately began to assure investors that he really didn’t mean it. Hedge fund manager Bill Ackman posted that Trump wouldn’t impose the tariffs if “Mexico and Canada stop the flow of illegal immigrants and fentanyl into the U.S.” Trump’s threat simply meant that Trump “is going to use tariffs as a weapon to achieve economic and political outcomes which are in the best interest of America,” Ackman wrote.

Iowa Republican lawmaker Senator Chuck Grassley, who represents a farm state that was badly burned by Trump’s tariffs in his first term, told reporters that he sees the tariff threats as a “negotiating tool.”

Foreign leaders had no choice but to respond. Mexican president Claudia Sheinbaum issued an open letter to Trump pointing out that Mexico has developed a comprehensive immigration system that has reduced border encounters by 75% since December 2023, and that the U.S. CBP One program has ended the “caravans” he talks about. She noted that it is imperative for the U.S. and Mexico jointly to “arrive at another model of labor mobility that is necessary for your country and to address the causes that lead families to leave their places of origin out of necessity.”

She noted that the fentanyl problem in the U.S. is a public health problem and that Mexican authorities have this year “seized tons of different types of drugs, 10,340 weapons, and arrested 15,640 people for violence related to drug trafficking,” and added that “70% of the illegal weapons seized from criminals in Mexico come from your country.” She also suggested that Mexico would retaliate with tariffs of its own if the U.S. imposed tariffs on Mexico.

Canadian prime minister Justin Trudeau did not go that far but talked to Trump shortly after the social media post. The U.S. is Canada’s biggest trading partner, and a 25% tariff would devastate its economy. The premier of Alberta, Danielle Smith, seemed to try to keep her province’s oil out of the line of fire by agreeing with Trump that the Canadian government should work with him and adding, “The vast majority of Alberta’s energy exports to the US are delivered through secure and safe pipelines which do not in any way contribute to these illegal activities at the border.”

Trudeau has called an emergency meeting with Canada’s provincial premiers tomorrow to discuss the threat.

Spokesperson for the Chinese embassy in Washington Liu Pengyu simply said: “No one will win a trade war or a tariff war” and “the idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality.”

In contrast to Trump’s sudden social media posts that threaten global trade and caused a frenzy today, President Joe Biden this evening announced that, after months of negotiations, Israel and Lebanon have agreed to a ceasefire brokered by the U.S. and France, to take effect at 4:00 a.m. local time on Wednesday. “This is designed to be a permanent cessation of hostilities,” Biden said.

Lebanon’s Iran-backed Hezbollah attacked Israel shortly after Hamas’s attack of October 7, 2023. Fighting on the border between Israel and Lebanon has turned 300,000 Lebanese people and 70,000 Israelis into refugees, with Israel bombing southern Lebanon to destroy Hezbollah’s tunnel system and killing its leaders. According to the Lebanese Ministry of Public Health, Israeli attacks have killed more than 3,000 people and injured more than 13,000, while CBS News reports that about 90 Israeli soldiers and nearly 50 Israeli civilians have been killed in the fighting. Under the agreement, Israel’s forces currently occupying southern Lebanon will withdraw over the next 60 days as Lebanon’s army moves in. Hezbollah will be kept from rebuilding.

According to Laura Rozen in her newsletter Diplomatic, before the agreement went into effect, Israel increased its airstrikes in Beirut and Tyre.

When he announced the deal, Biden pushed again for a ceasefire in Gaza, whose people, he said, “have been through hell. Their…world is absolutely shattered.” Biden called again for Hamas to release the more than 100 hostages it still holds and to negotiate a ceasefire. Biden said the U.S. will “make another push with Turkey, Egypt, Qatar, Israel, and others to achieve a ceasefire in Gaza with the hostages released and the end to the war without Hamas in power.”

Today’s announcement, Biden said, brings closer the realization of his vision for a peaceful Middle East where both Israel and a Palestinian state are established and recognized, a plan he tried to push before October 7 by linking Saudi Arabia’s normalization of relations with Israel to a Palestinian state. Biden has argued that such a deal is key to Israel’s long-term security, and today he pressed Israel to “be bold in turning tactical gains against Iran and its proxies into a coherent strategy that secures Israel’s long-term…safety and advances a broader peace and prosperity in the region.”

“I believe this agenda remains possible,” Biden said. “And in my remaining time in office, I will work tirelessly to advance this vision of—for an integrated, secure, and prosperous region, all of which…strengthens America’s national security.”

“Today’s announcement is a critical step in advancing that vision,” Biden said. “It reminds us that peace is possible.”

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

#Heather Cox Richardson #Letters From An American #American History #justice #bribes #billionaires #rule of law #plunder #economic madness #tariffs #deportation

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theoutcastrogue · 1 year ago

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The Port & the City

Buenos Aires, photo by lasgalletas (Creative Commons CC BY-NC 2.0)

Introduction

City of witches and of asphalt, port with no exit to the sea! — La Portuaria, from the port of Buenos Aires

Some cities have a port, and some port cities have a port culture. That's how I call it, anyway. It's a very special thing. It's created by the furious economic activity that concentrates around the coming and going of ships, cargo, and people. A port needs to cater to all of that, the ships and the cargo, the shipowner and the dockworker, the captain and the deckhand, the tourist and the sailor and the fisherman. And that transforms the entire city.

Where a port city meets the sea, there's shipping companies, travel agencies, imports/exports, truck companies, posh hotels, shitty hotels, fancy bars, seedy bars, brothels, strip clubs, theatres, restaurants, casinos, bookshops, tool shops, souvenir shops, fishing supplies, and fresh fish. There's peddlers and businessmen, porters and accountants, all sorts of people, and they all mingle. They have to! The port's there!

Port cities have their own landmarks and geography, with docks, wharfs, piers, depots, gates, shipyards, and people can orient themselves by relation to the water.

New York City, photo by Kari Nousiainen (Creative Commons CC BY-NC 2.0)

Crime

My gold watch and my pocketbook and lady friend were gone And there was I, Jack all alone, stark naked in the room — the port of New York City

Port cities attract furious criminal activity. Firstly and obviously, everything that's smuggled will be smuggled through here, from cocaine to counterfeit handbags to guns to oil. (I mean crude/refined oil, though with the prices we've seen lately, olive oil is equally plausible.) Port authorities, customs, shipowners and workers, all can have a hand in the pie, a little finger or both hands shoulder-deep, depending on how high up the ladder they are.

Second, ports are always full of newcomers, sailors and passengers, and all newcomers are potential marks. Con artists, scammers, and grifters of all sorts can ply their trade here. There's also a lot of shilling for more or less legitimate businesses (come buy this, sir! rent a room here, ma'am! oh but you must have a drink there, buddy!), and peddling less then legitimate goods (may I interest you in a fine watch? Rayban glasses, I have Rayban glasses! 100% genuine!). And then there's good old pickpocketing. Although in most cases, pickpockets are not allowed to operate within the port itself: it's bad for everyone else's business, and unlike cops, "everyone else" can actually enforce that.

And third, there's the entertainment sector: the trifecta of night life, sex work, and gambling, all going hand in hand with the sale and consumption of drugs and booze. Expect the port city to be much more entangled in all that than other cities, and the port itself to attract the bulk of it, or the worst of it. Things that are theoretically illegal might be tolerated here, things that are heavily regulated elsehwhere might follow their own rules here, and things that are otherwise unheard of can be found here. What are you into? Step right up but beware: the large print giveth and the small print taketh away.

The upshot of all this is that people in the port's vicinity (not the whole city, though) are more likely to be involved, or at least personally know someone who's involved, in profoundly shady and/or illegal business. And that certainly affects the culture. Breaking the law is more "eh" than "oh my!".

Clydebuilt Museum, photo by Paisley Scotland (Creative Commons CC BY 2.0)

Politics

All my life I've lived beside the waters that they call the Clyde I build the ships and watch them glide down the Broomielaw, sir Trudge to work in sleet and rain, labour for another's gain know yer place and don't complain, that's the rich man's law, sir — Alistair Hulett, from the shipyards of Glasgow

A port displays furious political activity. Unions are strong here, because labour is not only working, it's working hard, manually, in the same spaces (so they can talk about it!), and facing the same dangers to life and limb. Working on the docks, handling cargo containers, and ship-building and maintenance are very hazardous jobs (scrapping even more so, I'd say dramatically so), and under these conditions, it's easier to spot the enemy. Not automatic though. Port cities are traditionally, but not unconditionally, strongholds of the left.

Today, it's extremely important for the left to take the ports, because if it doesn't the fascists will. The workforce here has significant ethnic diversity, coming both from inland (immigrants and local minorities) and from the sea (sailors who go around the world sometimes end up working in random ports). So basically, this either goes "proletarians of the world unite" or "foreigners are stealing our jobs", no middle ground.

By the way, if all your knowledge about port unions comes from The Wire, or worse (for our older readers) from On the Waterfront, please be aware that these are slanted depictions, and you don't actually know anything. [They're not equally slanted, The Wire is nowhere near the other one's level of shameless propaganda, nor so completely divorced from reality. I mean yes, unions can be involved in shady business; so can literally everyone else in the port. But On the Waterfront, without the slightest exaggeration, is to American organised labour what Birth of a Nation is to Black Americans.]

Valparaíso, photo by [o] Rolando Vejar (Creative Commons CC BY-SA 2.0)

Culture

Amo el amor de los marineros que besan y se van. Dejan una promesa. No vuelven nunca más. — Pablo Neruda, from the port of Valparaíso

The port's culture seeps through the rest of the city. This is where sailor lore gets created and spread, and a port by definition loves travel and the ocean. Many non-sailors fall for it hook, line and sinker, and write poems and sing songs and their heart swells at the mere thought of sailing. But their fascination is often rose-tinted, whereas people who make a living from the sea typically have a love/hate relationship with it.

Maiden voyages are important occasions in shipbulding ports. A ship's last voyage, before it goes to scrap, is also memorable. If the ship regularly docks there, it will be the talk of the town, and if it's a passenger ship [this assumes a geography with regular passenger runs], a whole mess of people will be sharing stories and memories, waving it farewell, shouting, applauding, crying a little. It can get very emotional.

There's also a silly sort of localism/professional pride going on, where even the port's accountants, who've never set foot below decks IF they've actually boarded a ship, feel like they're a different species of accountant, inexplicably tougher and saltier than their more, er, inland colleagues. No matter who you are and what you do, it's badge of honour to say you're from and/or work at the port, like you're automatically endowed with tenacity and street smarts. It doesn't make sense, but there you have it.

Rotterdam, photo by MaxAmy Photography (Creative Commons CC BY-ND 2.0)

Desire

In the port of Amsterdam there's a sailor who dies Full of beer, full of cries, in a drunken town fight In the port of Amsterdam there's a sailor who's born On a hot muggy morn by the dawn's early light — Jacques Brel (in David Bowie's adaptation), from the port of Amsterdam

A port is filthy, grubby, and hopelessly romantic. If it faces somewhat west, it's on fire every sunset. Silhouettes of gigantic cranes are framed by red clouds like alien tripods. The sun sinks into the ocean, and tell me, in the whole wide earth, is there a sweeter sight? Ships approach like sea beasts, and dock in their usual place like old friends.

A port carries the whiff of grease and petrol, the cool sea breeze, and the incessant sounds of waves and engines and – most of all – people. A port IS people, passing. And tell me, in the whole wide world, is there anything more exciting and heartwrenching than people passing? A port city can fill you with wanderlust and feel like a prison, or a warm welcome, or a devastating farewell.

And if you point a gun to my head and force me to describe a port in a single word, I'll have to say: desire.

Love me, leave me, hold me tight, walk away, forget. Look at how I broke inside, and how the sea has swelled! It's pouring out a riot of colours, scents, and lights, and in the city's gutter it's building paradise. — Ξύλινα Σπαθιά, from the port of Thessaloniki

Thessaloniki, photo by Arend Kuester (Creative Commons CC BY-NC 2.0)

La Portuaria - Un dia cualquiera (El bar de la calle Rodney) | the port of Buenos Aires

Ξύλινα Σπαθιά - Ρόδες | the port of Thessaloniki

Tom Waits - Step right up

Finbar Furey - New York City girls | the port of New York

The Dubliners - Go to sea no more | the port of Liverpool

Alistair Hulett - The Old Divide and Rule | the shipyards of Glasgow

The Dreadnoughts - Roll Northumbria | the shipyards of Tyne

The Longest Johns - Fire & flame | the port of Halifax

Maria del Mar Bonet - Merhaba | the ports of the Mediterranean

Cesária Évora - Mar de canal | the port of Mindelo

Susana Baca - Los marineros | the port of Valparaíso

Παντελής Θαλασσινός - Άσπρο καΐκι στη Νέα Πέραμο | the little port of Nea Peramos

Jacques Brel - Amsterdam | the port of Amsterdam

Social Waste - Kasbah | the port of Algiers

Πάνος Κατσιμίχας - Ο πιλότος Νάγκελ | the port of Colombo, so far from Lofoten

Ξύλινα Σπαθιά - Φωτιά στο λιμάνι | the port of Thessaloniki

#the city speaks #theory #trs #the ramblin' rover #pirate #booze #booze et al #no tears for the creatures of the night #smuggler #pickpocket #mixtape #prison ballads #ONE of these days I'll learn to be concise I swear #also I ain't translating Naruda to english #the Rogue's school of translation gives exactly zero fucks #but there's a limit #look it up it's called ''Farewell''#also I didn't include a planned section on immigration #because I got too fucking upset to write words

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quirkymarshmallows93 · 1 year ago

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Gas Station Stream of Consciousness Post

Gas Stations as Liminal Spaces

I've had quite a few hyperfixations in my day - ATMs, laundry detergents, credit cards - so my current one pertaining to gas stations is fitting considering my affinity for liminal spaces and the dedication of this blog to them. Liminal spaces are transitory in nature, hence their portrayal in online circles through photos of carpeted hallways, illuminated stairwells, dark roads, and backrooms, among other transitional points.

Gas stations are posted online as well; images of their fuel pumps or neon signage photographed through a rainy car window communicate their liminality and the universal experiences they provide to all of society. Perhaps they are the ultimate specimen of a liminal space. The machines they are created for, automobiles and tractor trailers alike, themselves are tools for motion, vestibules that enable travel and shipment across long distances at high speeds. Cars and roads are liminal spaces, albeit in different formats, and gas stations serve as their lighthouses. Vehicles at filling stations, therefore, are in a sense liminal spaces within liminal spaces within liminal spaces.

The uniqueness of a gas station as a liminal space, however, is its intersection with the economics and aesthetics of capitalism. Gasoline (and diesel fuel) is a commodity, downstream from crude oil, merely differentiated by octane ratings. Some argue that minute distinctions between agents, detergents, and additives make some brands better than others. Indeed, fuels that are approved by the Top Tier program, sponsored by automakers, have been shown to improve engine cleanliness and performance, but this classification does not prefer specific refiners over others; it is simply a standard. To a consumer, Top Tier fuels are themselves still interchangeable commodities within the wider gasoline commodity market.

The Economics of Gas Stations

The market that gas stations serve is characterized by inelastic demand, with customers who reckon with prices that fluctuate day in and day out. This is not to say that consumer behavior does not change with fuel prices. It has been observed that as prices rise, consumers are more eager to find the cheapest gas, but when prices fall, drivers are less selective with where they pump and are just happy to fill up at a lower price than last week. In response, gas stations lower their prices at a slower rate than when increasing prices, allowing for higher profit margins when wholesale prices fall. This has been dubbed the "rockets and feathers" phenomenon.

When portrayed as liminal spaces, gas stations are most often depicted at night, places of solitude where one may also enter the adjacent convenience store and encounter a fellow individual who isn't asleep, the modern day lightkeeper. The mart that resides at the backcourt of a gas station is known to sell goods at higher prices than a supermarket, simultaneously taking advantage of a captive customer, convenient location, and making up for the inefficiencies of a smaller operation. It may come as no surprise, then, that gas stations barely make any money from fuel sales and earn their bulk through C-store sales. This is a gripe I have with our economic system. Business is gamified, and in many cases the trade of certain goods and services, called loss leaders, is not an independent operation and is subsidized by the success of another division of a business, a strategy inherently more feasible for larger companies that have greater scale to execute it.

Nevertheless, most gas station owners, whether they have just one or hundreds of sites, find this method fruitful. Even though most gas stations in the US sell one of a handful of national brands, they operate on a branded reseller, or dealer, model, with oil companies themselves generally not taking part in the operations of stations that sell their fuels. The giants do still often have the most leverage and margin in the business, with the ability to set the wholesale price for the distributor, which sells at a markup to the station owner, which in turn will normally make the least profit in the chain when selling to the end customer at the pump. This kind of horizontal integration that involves many parties lacks the synergies and efficiencies of vertical integration that are so applauded by capitalists, but ends up being the most profitable for firms like ExxonMobil, who only extract and refine oil, and on the other end of the chain merely license their recognizable brands to the resellers through purchasing agreements. Furthermore, in recent years, independent dealers have sold their businesses to larger branded resellers, in many cases the ones from whom they had been buying their fuel.

A Word on ExxonMobil's Branding Potential

The largest publicly traded oil company in the world is Exxon Mobil Corporation. It is a direct descendent of the Rockefeller monopoly, Standard Oil, which was broken up in 1911 into 34 companies, the largest of which was Jersey Standard, which became Exxon in 1973. This title was generated by a computer as the most appealing replacement name to be used nationwide to unify the Humble, Enco, and Esso brands, decades before AI was spoken of. The latter brand is still used outside of the United States for marketing, arising from the phonetic pronunciation of the initials of Standard Oil. In 1999, Exxon and Mobil merged, and the combined company to this day markets under separate brands. Exxon is more narrowly used, to brand fuel in the United States, while Mobil has remained a motor oil and industrial lubricant brand, as well as a fuel brand in multiple countries.

Mobil originated in 1866 as the Vacuum Oil Company, which first used the current brand name for Mobiloil, and later Mobilgas and Mobilubricant products, with the prefix simply short for "automobile". Over time, Mobil became the corporation's primary identity, with its official name change to Mobil Oil Corporation taking place in 1966. Its updated wordmark with a signature red O was designed by the agency Chermayeff & Geismar, and the company's image for service stations was conceived by architect Eliot Noyes. New gas stations featured distinctive circular canopies over the pumps, and the company's recognizable pegasus logo was prominently on display for motorists.

I take issue with the deyassification of the brand's image over time. As costs were cut and uniformity took over, rectangular canopies were constructed in place of the special ones designed by Noyes that resembled large mushrooms. The pegasus remained a prominent brand icon, but the Mobil wordmark took precedence, which I personally believe to be an error in judgement. This disregard for the pegasus paved the way for its complete erasure in 2016 with the introduction of ExxonMobil's "Synergy" brand for its fuel. The mythical creature is now much smaller and appears only at the top right corner of pumps at Mobil gas stations, if at all.

Even into the 90s and the 21st century the Pegasus had its place in Mobil's marketing. In 1997, the company introduced its Speedpass keytag, which was revolutionary for its time and used RFID technology, akin to mobile payments today, to allow drivers to get gas without entering the store or swiping a card. When a Speedpass would be successfully processed, the pegasus on the gas pump would light up red.

When Exxon and Mobil merged in 1999, the former adopted the payment method too, with Exxon's less iconic tiger in place of the pegasus.

The program was discontinued in 2019 in favor of ExxonMobil's app, which is more secure since it processes payments through the internet rather than at the pump.

What Shell has done with its brand identity is what Mobil should've done for itself. The European company's logo was designed in 1969 by Raymond Loewy, and is a worth contender for the "And Yet a Trace of the True Self Exists in the False Self" meme. In recent years, Shell went all in on its graphic, while Mobil's pegasus flew away. I choose to believe that the company chose to rebrand its stations in order to prevent the malfunction in the above image from happening.

ExxonMobil should have also discontinued the use of the less storied Exxon brand altogether, and simplifying its consumer-facing identity to just the global Mobil mark. Whatever, neither of the names are actual words. As a bonus, here is a Google map I put together of all 62 gas stations in Springfield, MA. This is my idea of fun. Thanks for reading to the end!

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rjzimmerman · 15 days ago

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Excerpt from this story from Grist:

Shortly after he was reelected last month, Donald Trump announced an economic gambit that was aggressive even by his standards. He vowed that, on the first day of his second term, he would slap 25 percent tariffs on imports from Canada and Mexico, and boost those already placed on Chinese products by another 10 percent.

The move set off a frenzy of pushback. Canadian Prime Minister Justin Trudeau even flew to the president-elect’s Florida resort to make his case. Economists say the potential levies threaten to upend global trade — including green technologies, many of which are manufactured in China. The moves would cause price spikes for everything from electric vehicles and heat pumps to solar panels.

“Typically with tariffs, we’ve seen [companies] pass them along to the consumer,” said Corey Cantor, electric vehicles analyst at Bloomberg NEF. Ansgar Baums, a senior fellow at the nonpartisan foreign policy think tank Stimson Center, said retaliatory moves from the three targeted countries would only make things worse. “It will drive up consumer costs and hurt those who cannot afford it.”

Trump has acknowledged that possibility. But he has argued that tariffs are necessary to force Canada and Mexico to crack down on drugs, particularly fentanyl, and on migrants crossing the border into the U.S.

The recently threatened tariffs would ratchet prices even higher on things like solar panels, but are also much more far-reaching because of their broad application to North American trading partners. One sweeping impact would be on gasoline prices, because although the U.S. is world’s largest oil producer, older domestic refineries can only process the type of heavier crude that comes from Canada. GasBuddy projects that tariffs could add 35 cents to 75 cents on a gallon of gas.

Automakers will also be hard hit, as $97 billion in parts and some 4 million vehicles come from Canada and, especially, Mexico. That’s where some of the more affordable EVs, such as Ford’s Mustang Mach-E and the Chevrolet Equinox, are manufactured. Wolfe Research said that “given the magnitude, we’d expect most investors to assume Trump ultimately does not follow through with these threats,” but that if they were put in place, tariffs would add $3,000 to the price of the average car, regardless of whether it’s powered by gasoline or a battery.

#trump #tariffs #climate change #renewable energy projects

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mariacallous · 9 months ago

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In recent weeks, Ukraine has found a way to overcome a lack of aid and a dearth of ammunition, using long-range drones to strike oil industry assets deep inside Russia. The attacks on Russian oil refineries—which number at least a dozen so far, including some very long-range strikes—have damaged Russia’s ability to process and refine its huge output of crude oil, dealing a small but meaningful blow to a Russian energy sector that has so far weathered the war and Western sanctions in surprisingly good shape.

The campaign, which has been tacitly acknowledged by Ukrainian security services and officials, is meant to strike at both the economic and logistic sinews of Russia’s war effort, which is still grinding its way through the third year of its invasion of Ukraine. (Ukrainian drones have also targeted Russian defense production plants.)

“These attacks are on a major source for the Russian budget, and that budget is being spent on military equipment,” said James Henderson, an expert on the Russian energy sector at the Oxford Institute for Energy Studies.

Moscow gets about 40 percent of its federal budget from the export of crude oil and refined products (and that share is even bigger when converted into Russian rubles), making the sector a key part of the Kremlin’s ability to increase defense spending, rebuild its shattered armies, and purchase huge amounts of foreign-made weaponry to use against Ukraine. Russian refineries also churn out millions of barrels a day of products such as diesel and aviation fuel, which are needed for Russia’s perpetually logistics-constrained armed forces.

The Ukrainian strikes so far, which have damaged numerous refineries and started several fires, have knocked out anywhere between 400,000 and 900,000 barrels a day of refining capacity, according to estimates from energy experts and defense officials. Russia has an installed refining capacity—not all of which it uses—of about 6 million barrels a day, and refineries processing more than 2 million barrels a day have been targeted by Ukrainian strikes, some that did superficial damage and some that did more, in recent months.

While the impact of the Ukrainian attacks has varied from refinery to refinery, they present two big problems for Moscow. First, the continued attacks will further stretch Russia’s limited air defenses across even farther-flung bits of its sprawling territory. Second, due to years of Western sanctions, repairs to more advanced refinery components could be much trickier than in normal circumstances, which could affect Russia’s ability to churn out higher-value petroleum products, such as high-octane fuels.

“The higher-quality products are the ones that are going to be at higher risk,” Henderson said.

The Ukrainian onslaught has consequences that reach beyond the Kremlin. Moscow has retaliated with its own bombing campaign, a reprise of previous years’ efforts to destroy Ukraine’s energy infrastructure. Russian missiles struck power supply facilities all over Ukraine last week in what appeared to be the biggest attack yet on Ukraine’s ability to keep the lights on. That’s especially problematic since Ukraine is running low on air defense ammunition needed to protect large cities and power plants, and the big U.S. aid package remains captive in the Republican-controlled House of Representatives.

The strikes are also rippling into trading rooms in New York and London. Global oil prices have stayed above $80 a barrel over concerns of an escalation of Ukrainian attacks that could inflict further damage on one of the world’s biggest oil producers and exporters. That’s one reason why the Biden administration, facing a fall election, seems nervous about the Ukrainian drone campaign.

U.S. officials reportedly asked Ukraine to limit strikes on Russian oil facilities that could lead to higher prices, though Kyiv has made clear that its campaign will continue. Unlike U.S.-delivered long-range weapons, the drones used for the oil industry assaults are Ukrainian and don’t carry Western restrictions. A White House spokesperson declined to comment directly on reports that it asked Ukraine to abstain from such attacks, but White House national security spokesperson John Kirby reiterated that “we do not encourage or enable the Ukrainian military to conduct strikes inside Russia.”

Since the start of the war, the Biden administration has been leery of squeezing Russia’s energy golden goose too hard, lest it spike global energy prices. The embargo on Russian oil exports was only gradually phased in, and a price cap on Russian crude meant to limit Moscow’s energy earnings has proved disappointing.

What’s more, until recently, Russia was able to use a fleet of shadow oil tankers—vessels that circumvent normal shipping rules such as insurance and identification—to bypass Western restrictions on shipping its crude by sea. All of that has meant that the prewar level of Russian oil exports has been basically unaffected by sanctions and embargoes. But a growing crackdown on shadow tankers, coupled with further Ukrainian strikes, could make for a tighter oil market in months to come, said ClearView Energy Partners, an energy consultancy.

But that’s not Ukraine’s concern. Rather, Kyiv figures that if Russia has trouble processing its crude, it may be forced to pump less. Indeed, Russia this week announced that it will cut oil output to comply with informal production quotas agreed with OPEC+; some energy experts believe Moscow has little choice given the carnage in its downstream facilities.

But there’s another risk, Henderson warned. Just as the United States and other Western countries have gotten more rigorous at cracking down on Russia’s evasion of oil export bans, Moscow may have an incentive to just export more of its unrefined crude. If it does so, it will mean a return to steep discounts on Russian oil as compared with global benchmarks, which will give shippers and third countries reason to get creative yet again at sidestepping sanctions.

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yourreddancer · 30 days ago

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Heather Cox Richardson

November 26, 2024

Heather Cox Richardson

Nov 27

Today presented a good example of the difference between governance by social media and governance by policy.

Very few undocumented immigrants and very little illegal fentanyl come into the U.S. from Canada.

Transferring that production to the U.S. would be difficult, especially since about half of the 2 million agricultural workers in the U.S. are undocumented and Trump has vowed to deport them all.

Rampell points out as well that Project 2025 calls for getting rid of the visa system that gives legal status to agricultural workers. U.S. farm industry groups have asked Trump to spare the agricultural sector, which contributed about $1.5 trillion to the U.S. gross domestic product in 2023, from his mass deportations.

She also suggested that Mexico would retaliate with tariffs of its own if the U.S. imposed tariffs on Mexico.

Trudeau has called an emergency meeting with Canada’s provincial premiers tomorrow to discuss the threat.

According to Laura Rozen in her newsletter Diplomatic, before the agreement went into effect, Israel increased its airstrikes in Beirut and Tyre.

“Today’s announcement is a critical step in advancing that vision,” Biden said. “It reminds us that peace is possible.”

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misfitwashere · 1 month ago

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November 26, 2024

HEATHER COX RICHARDSON

NOV 27

Today presented a good example of the difference between governance by social media and governance by policy.

Very few undocumented immigrants and very little illegal fentanyl come into the U.S. from Canada.

Trudeau has called an emergency meeting with Canada’s provincial premiers tomorrow to discuss the threat.

According to Laura Rozen in her newsletter Diplomatic, before the agreement went into effect, Israel increased its airstrikes in Beirut and Tyre.

“Today’s announcement is a critical step in advancing that vision,” Biden said. “It reminds us that peace is possible.”

—

#heather cox richardson #letters from an american

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lavanyamuj00058 · 3 months ago

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Different Financial Instruments

Different Financial Instruments in India The financial market in India provides a wide variety of products to suit different risk tolerances and investment requirements. Making wise investing selections requires having a thorough understanding of these instruments. Here, we examine a few of the most important financial products that are offered in India.

Stocks Ownership in a corporation is represented by stocks, or equity. Purchasing shares of a firm permits you to participate in its development and earnings as an owner. On stock markets such as the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), stocks are exchanged. Although they have a large amount of market risk, they provide huge profits. Prior to making an investment in stocks, investors should perform extensive research.

Bonds Bonds are fixed-income securities that governments, businesses, and local governments issue to raise money. At maturity, they repay the principle amount together with monthly interest payments. Although they sometimes yield less returns than stocks, bonds are seen to be safer. For conservative investors seeking consistent income, they are perfect.

Mutual Funds Mutual funds invest in a diverse portfolio of stocks, bonds, and other assets by pooling the money of several individuals. Professional fund managers oversee them. By providing diversity, mutual funds help individual investors take on less risk. They are available in several varieties, including debt, equity, and hybrid funds, to accommodate varying risk tolerances and investment objectives.

Fixed Deposits (FDs) Fixed deposits are one of the most popular investment options in India. They offer a fixed interest rate for a specified tenure, providing assured returns. FDs are considered very safe, especially when deposited in reputable banks. They are suitable for risk-averse investors seeking guaranteed returns.

Derivatives Financial contracts known as derivatives derive their value from underlying assets such as stocks, bonds, or indexes. Derivatives that are frequently used are swaps, options, and futures. They are employed in price movement speculation and risk hedging. Since they can be complicated, derivatives are usually only advised for seasoned investors.

Instruments for Foreign Exchange Currency trading is a part of foreign exchange instruments. Businesses and investors use them to speculate on currency changes or as a hedge against currency risk. Forex trading is extremely risky and necessitates a solid grasp of world economic issues.

Cash and Cash Equivalents These include instruments like treasury bills, commercial papers, and certificates of deposit. They are highly liquid and can be quickly converted into cash. Cash equivalents are low-risk investments, suitable for short-term needs or as a part of a diversified portfolio

Goods and Services Investing in commodities such as crude oil, silver, and gold is an additional choice. Direct commodity trading is also possible, as is commodity futures trading. They diversify an investment portfolio and act as a buffer against inflation. In summary The financial market in India provides a vast range of instruments to suit varying risk appetites and investment requirements. Investors have a wide range of alternatives, from secure and steady fixed deposits to high-risk, high-reward stocks. Making wise investing selections requires having a thorough understanding of these instruments, as well as the risks and rewards associated with each. There is a financial product in India to meet your demands, regardless of whether you are an aggressive investor wanting large profits or a conservative investor seeking safety.

#finance #blogs #tumblr fyp #entrepreneur

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imperialchem · 4 months ago

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The Economic Impact of Paraffin Dispersant Exports: A Global Perspective

In the modern oil and gas industry, paraffin or wax deposition has emerged as a significant challenge. Paraffin, a naturally occurring hydrocarbon, can solidify in pipelines, tanks, and other equipment, leading to blockages that disrupt production and transportation. The answer to this growing problem lies in the development and export of wax or paraffin dispersants, chemicals designed to mitigate wax build-up by keeping the wax particles suspended in oil.

India has established itself as a key player in the production and export of wax or paraffin dispersants, supplying global markets with these critical chemicals. With the growing demand for oil, especially in emerging economies, the need for these dispersants continues to rise. This blog explores the economic impact of paraffin dispersant exports, with a focus on India’s role as a key manufacturer, exporter, and supplier in the global market.

Understanding the Role of Paraffin Dispersants in the Oil and Gas Industry

Wax build-up in pipelines and storage tanks is a costly and time-consuming issue for oil producers worldwide. Paraffin dispersants, also known as wax dispersants, are chemicals that prevent the solidification of paraffin by dispersing it into smaller particles, allowing it to flow with the crude oil. This significantly reduces the risk of blockages in pipelines, maintains efficient flow, and ensures smoother operations in oilfields.

The demand for paraffin dispersants has increased over the past decade due to the global expansion of oil production, especially in regions with colder climates where paraffin solidification is more likely to occur. As oil exploration and production continue to grow globally, especially in emerging economies like Africa, Latin America, and Southeast Asia, the need for reliable paraffin dispersants will only increase.

India: A Leading Wax / Paraffin Dispersant Manufacturer

India has become a major hub for the production of wax dispersants. As a wax dispersant manufacturer in India, the country is home to several companies that specialize in producing high-quality paraffin dispersants. These companies have invested heavily in research and development to create efficient and eco-friendly dispersants that meet global standards.

Indian manufacturers benefit from a robust chemical production infrastructure and access to raw materials, making them competitive on the global stage. The strategic geographic location of India also allows for easy access to key markets in Asia, the Middle East, and Africa, where oil production is booming. Companies like Imperial Oilfield Chemicals Pvt. Ltd. have emerged as leaders in the production and export of wax dispersants, driving economic growth through international trade.

The Growing Importance of Paraffin Dispersant Exports

As a leading wax dispersant exporter in India, the country plays a critical role in supplying global markets with the chemicals necessary to ensure the smooth operation of oil and gas infrastructure. The export of paraffin dispersants contributes significantly to India’s foreign exchange earnings, supporting the nation’s economy and positioning it as a key player in the global oil and gas supply chain.

India’s wax dispersant exports have found markets in oil-producing countries across the Middle East, Africa, Latin America, and Asia. These regions are experiencing rapid growth in oil exploration and production, leading to an increased demand for chemicals that can enhance operational efficiency. By providing high-quality dispersants at competitive prices, India has established itself as a trusted supplier on the global stage.

Economic Impact of Wax Dispersant Exports on India’s Economy

The economic impact of paraffin dispersant exports on India’s economy is multifaceted. The growth of this industry has created jobs, generated foreign exchange, and driven innovation in the chemical sector. Some key impacts include:

Job Creation: The manufacturing and export of paraffin dispersants have led to job creation in both the chemical production sector and related industries, such as logistics and transportation. This has helped boost local economies, particularly in regions where manufacturing facilities are located.

Foreign Exchange Earnings: As a major wax dispersant exporter in India, the country generates significant foreign exchange earnings. These earnings contribute to the overall economic stability of the nation, supporting investments in infrastructure, education, and healthcare.

Technological Advancements: The increasing demand for high-quality dispersants has encouraged Indian manufacturers to invest in research and development. This has led to innovations in the production of eco-friendly dispersants, enhancing the competitiveness of Indian companies on the global stage.

Trade Relationships: Exporting paraffin dispersants has strengthened India’s trade relationships with oil-producing nations. These relationships open doors to further collaboration and trade opportunities, particularly in related sectors such as oilfield services and equipment.

Diversification of the Economy: The growth of the paraffin dispersant industry helps diversify India’s economy. As the country becomes less reliant on traditional exports like textiles and agriculture, it builds a more resilient economy capable of weathering global economic fluctuations.

Challenges and Opportunities in the Global Wax Dispersant Market

While the global demand for paraffin dispersants is on the rise, there are also challenges that manufacturers and exporters face. These include fluctuating oil prices, environmental regulations, and competition from other global suppliers.

Fluctuating Oil Prices: The price of oil is a major factor influencing the demand for paraffin dispersants. When oil prices drop, oil producers may cut back on production, leading to reduced demand for dispersants. However, when prices rise, production increases, driving up the need for dispersants. Indian manufacturers must be agile and responsive to these market fluctuations to remain competitive.

Environmental Regulations: With increasing global concern about the environmental impact of chemicals used in the oil industry, there is a growing demand for eco-friendly dispersants. Indian manufacturers are investing in the development of biodegradable dispersants to meet these regulatory demands. This presents an opportunity for India to position itself as a leader in the production of environmentally sustainable chemicals.

Competition from Other Suppliers: As a wax dispersant supplier in India, Indian companies face competition from manufacturers in other countries, particularly those in the United States, China, and Europe. To maintain their competitive edge, Indian exporters must continue to focus on quality, cost-efficiency, and customer service.

The Future of India’s Paraffin Dispersant Exports

The future looks bright for India’s paraffin dispersant export industry. As oil production continues to expand globally, especially in regions like Africa and Southeast Asia, the demand for dispersants will rise. Indian manufacturers are well-positioned to meet this demand, thanks to their competitive pricing, innovative solutions, and established trade relationships.

In addition, India’s focus on sustainability and environmentally friendly dispersants will allow the country to capture a growing segment of the market that prioritizes eco-conscious products. By staying ahead of global trends and continuing to invest in research and development, Indian companies can ensure long-term success in the global wax dispersant market.

Conclusion

India’s role as a wax dispersant manufacturer in India, exporter, and supplier is having a significant economic impact both domestically and globally. The country’s ability to produce high-quality paraffin dispersants at competitive prices has positioned it as a trusted supplier in key oil-producing regions. As the global demand for these chemicals continues to grow, India stands to benefit economically from its leadership in this critical sector.

From job creation to foreign exchange earnings, the export of paraffin dispersants is a vital part of India’s economic landscape. By continuing to innovate and meet the demands of the global market, Indian manufacturers will play a crucial role in ensuring the smooth operation of the world’s oil and gas infrastructure.

#Wax / Parrafin Disperssant supplier in India #Wax / Parrafin Disperssant Manufacturer in India #Wax / Parrafin Disperssant exporter in India

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chemanalystdata · 8 months ago

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C9 Solvent Prices, Price Trend, Pricing, News, Analysis & Forecast

North America:

During the initial quarter of 2024, C9 Solvent prices in the North American market took a downward turn, largely influenced by increased competition from cheaper imports and softened demand from the Paints and Coating industry post-festivities. The US market, in particular, experienced a significant price dip due to heightened overseas imports offering more competitive pricing. Despite ample product supply domestically, including port inventories, subdued demand and increased selling pressures contributed to the overall bearish trajectory. As the Red Sea crises normalized and freight rates declined towards the quarter's end, the bearish trend in the US C9 Solvent market further solidified. Meanwhile, the construction industry showcased positive growth, with notable increases in completed houses and new constructions, offering a contrasting upward trajectory amidst the market's downturn.

Europe:

The European C9 Solvent market, especially in Germany, faced a bearish trend during Q1 2024, primarily driven by increased imports of cheaper alternatives and reduced raw material costs. Subdued demand persisted in the downstream Paints and Coating sector post-festivities, maintaining ample product supply domestically. The market's bearish trajectory was accentuated by sluggish demand, heightened selling pressures, and a notable decline in the construction industry by the quarter's end, reflecting broader economic uncertainties and pessimism among constructors. Housing projects, commercial ventures, and civil engineering activities all experienced contractions, further dampening market sentiment amidst prevailing uncertainties.

Get Real Time Prices of C9 Solvent: https://www.chemanalyst.com/Pricing-data/c9-solvent-1467

APAC:

In the APAC region, the C9 Solvent market remained stable throughout Q1 2024, characterized by unchanged prices and a balanced demand-supply dynamic. Low demand prompted cautious trading practices and optimized inventories, supported by falling global crude oil prices. South Korea experienced the most significant price changes, yet overall stability prevailed throughout the quarter. Seasonal fluctuations were negligible, with no significant deviations observed compared to the same quarter last year. The pricing environment in South Korea, particularly, remained steady, showcasing consistency amid market equilibrium.

MEA:

The MEA region, notably the United Arab Emirates, witnessed notable fluctuations in C9 Solvent pricing during Q1 2024, influenced by factors such as costly imports, crude oil price fluctuations, and global growth concerns. Supply dynamics fluctuated due to disruptions in the Red Sea shipping initially but improved later in the quarter, stimulating trading activities. Demand remained stable, particularly from the paints and coating sector. Overall, market sentiment leaned towards bullish, with prices increasing in February and stabilizing in March. Despite fluctuations, a positive outlook characterized the quarter, with expectations of stability amidst potential feedstock crude oil price increases. In summary, the MEA region, including the United Arab Emirates, experienced varied pricing dynamics for C9 Solvent, ultimately stabilizing with optimistic prospects for Q1 2024.

Get Real Time Prices of C9 Solvent: https://www.chemanalyst.com/Pricing-data/c9-solvent-1467

ChemAnalyst

GmbH - S-01, 2.floor, Subbelrather Straße,

15a Cologne, 50823, Germany

Call: +49-221-6505-8833

Email: [email protected]

Website: https://www.chemanalyst.com

#C9 Solvent Prices

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trader-sg112 · 6 months ago

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Market Update: Key Indices and Stocks Show Mixed Movements Amidst Economic Projections

Index Futures Overview

As the trading day commenced, the major U.S. stock index futures exhibited modest fluctuations. Dow Jones Futures traded largely unchanged, indicating a neutral market sentiment. Meanwhile, S&P 500 Futures edged up by 2 points, representing a 0.1% increase. The Nasdaq 100 Futures also climbed by 20 points, or 0.1%, reflecting slight optimism in the tech sector.

Economic Projections: Job Market Insights

Economists are keeping a close watch on the U.S. labor market data, anticipating the addition of 189,000 jobs in June. This follows a stronger-than-expected increase of 272,000 jobs in May. The employment figures are crucial as they provide insights into the health of the economy and can influence Federal Reserve policy decisions. A robust job market typically signals economic strength, while any shortfall could raise concerns about a potential slowdown.

Stock Movements: Highlights and Lowlights

Tesla (NASDAQ: TSLA): Tesla's stock saw a premarket boost of nearly 2%, continuing its trend of strong performance. This increase may be attributed to positive investor sentiment surrounding the company's ongoing innovations and expansion plans in the electric vehicle market.

Macy’s (NYSE: M): Macy’s stock surged by 4% premarket. This rise could be due to positive retail sector performance or specific company news that has bolstered investor confidence. Macy’s, as a major player in the retail industry, often reflects broader consumer spending trends.

Coinbase Global (NASDAQ: COIN): In contrast, Coinbase Global experienced a significant drop, with its stock falling 6.5% premarket. The decline in Coinbase's stock price may be linked to recent regulatory scrutiny or market volatility impacting the cryptocurrency sector.

Commodity Market Movements

Crude Oil: U.S. crude futures (WTI) rose slightly by 0.1% to $83.98 a barrel, suggesting steady demand despite global economic uncertainties. Conversely, the Brent crude contract saw a marginal decline, trading at $87.40 a barrel. These movements indicate mixed market sentiments influenced by factors such as supply concerns and geopolitical developments.

Cryptocurrency Update

Bitcoin: The world's leading digital currency, Bitcoin, faced a downturn, falling to its lowest level since February. This decline reflects broader market trends affecting cryptocurrencies, including regulatory pressures and changes in investor sentiment.

Conclusion

Today's market snapshot presents a mixed picture with minor gains in major indices and varied performances among prominent stocks. Economic projections, particularly job market data, will play a crucial role in shaping market movements in the near term. Investors are advised to stay informed about ongoing economic indicators and company-specific developments to navigate the dynamic market landscape effectively.

This article provides a comprehensive overview of the current market trends, highlighting key indices, stocks, and economic projections. It offers valuable insights for investors and market watchers looking to understand the factors driving today's financial landscape.

#MarketTrends #StockMarket #IndexFutures #EconomicProjections #JobMarket #TeslaStock #MacyStock #CoinbaseGlobal #CrudeOil #BitcoinUpdate #FinancialMarkets #InvestingInsights #MarketAnalysis #CommodityMarkets #CryptocurrencyTrends

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dreaminginthedeepsouth · 4 months ago

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Meanwhile at Trump’s mini rally in Asheville. Best photo of the new billboard truck yet! Please help us fund the truck! Doug did great! Chip in https://maddogpac.com/products/quick-donate-1

* * * *

Republicans say, “It’s the economy, stupid” . . . unless the economy is strong, then it’s “Look, there goes Elvis!”

August 15, 2024

Robert B. Hubbell

I hurt my jaw on Wednesday. I was listening to MSNBC report on the drop in inflation below 3% when the news anchor asked an “expert” how the positive economic news would affect the election. With no sense of irony or memory, the “expert” said, “Well, of course, the election won’t be decided on the economy.”

My jaw hit the floor so quickly that I nearly chipped a tooth. Remember that time—for the last year-and-half—when political pundits told us that voters cared about inflation more than democracy itself?

Now that inflation is at the lowest level in the last three years, pundits are telling us that the economy doesn’t matter—or that the good news about inflation is actually bad news for Kamala Harris. See, e.g., Politico, Inflation is easing. Now, Harris has an even bigger problem with the economy. (Per Politico, the economy faces a possible recession—which is what economists have been predicting for the last year-and-half.)

To President Biden’s credit, he called out the media’s insistence on spinning all economic news as unfavorable. At an event at the White House, a reporter shouted a question, “Did the US beat inflation, Mr. President.” Biden responded,

Yes, yes, yes. I told you we were going to have a soft landing [and]we’re going to have a soft landing. My policies are working. Start writing it that way.” See President Biden on Easing Inflation: "My Policies Are Working" | C-SPAN.org.

But the press has no interest in reporting on a positive economic story. Kamala Harris announced that she would give a speech on Friday outlining her economic policies. The New York Times didn’t wait for the speech to give it a negative review, posting the headline Harris Is Set to Lay Out an Economic Message Light on Detail.

Per the Times,

In her speech, according to those familiar with her plans, Ms. Harris will call for expanding the child tax credit, along with higher taxes on corporations and high earners, in line with Mr. Biden’s budget proposals in office. She will also push for more affordable housing, among other measures. In her campaign, Ms. Harris has already called for raising the minimum wage and providing paid leave for workers. She has defended the independence of the Federal Reserve.

Other outlets reported that Kamala Harris will also introduce “anti-price gouging” legislation to prevent corporations from using inflation as an excuse to raise grocery prices faster than justified by cost increases. See The Guardian, Kamala Harris economic plan to focus on groceries, housing and healthcare

Hmm. Sounds specific to me. Perhaps if the Times had waited for the speech before declaring it was “light on details,” it would have had a firmer basis for its critique.

By comparison, when Trump gave a rambling speech on Wednesday that was billed as setting forth his “vision for the economy,” he descended into name-calling, conspiracy-mongering, and crowd-sizing. The Times’ headline was Trump Lobs Personal Attacks Against Harris in Economy-Focused Speech.

The Times summarized Trump's economic plans as follows:

During his speech, Mr. Trump vowed that he would end “costly, job-killing” regulations in order to bring prices down, though he did not specify which regulations. He promised to address housing costs by opening large tracts of federal land for development, imposing tariffs of up to 20 percent on America’s trading partners and expanding signature tax cuts he pushed while in the White House. He also said that his chief tool to fight rising prices would be boosting oil and gas production, even as the U.S. is currently producing significantly more crude oil today than it did under the Trump administration.

So, Trump's “economic” policy is (1) “Drill baby, drill,” (2) cut taxes for the wealthy, (3) reduce federal regulation, and (4) allow private developers to use federal land to build homes. Now that sounds “light on details,” no?

Ah, well! We aren’t going to fix the broken press before November. But the general acknowledgment that the media is broken is widespread and accepted as truth. See Jonathan Chait in NYMagazine, The Media’s Double Standard Favors Trump, Not Harris.

Per Chait,

If Harris avoids any substantive commitments by September and the media aren’t making a big issue out of it, I’d be surprised. Meanwhile, Donald Trump very much is skating by without serious policy commitments. He floated the idea of repealing Obamacare, then backed away, and is continuing to vaguely promise to make health care better for everybody without anybody paying for it. He has made positive noises about cutting retirement programs without specifying how. He is secretly promising huge tax cuts to wealthy donors, while saying he would “be okay” with setting the corporate tax rate just one point lower. The media are reporting on some of these questions . . . but most of Trump’s issue evasions have disappeared from the news, and the press has had almost no ability to force him to take a stand on any issue he prefers not to talk about. Harris, at least, is supposed to be working on an agenda. Trump won’t get more specific until he wins.

So, as the media whines about Kamala Harris's lack of a full-blown policy portfolio three weeks after entering the presidential race, it has failed to hold Trump to specifics on his grandiose, illusory promises.

One final note: Trump is touting “No taxes on Social Security.” Without regard to the merits of that proposal, Democrats introduced a bill in 2022 to eliminate taxes on Social Security. See Pensions & Investments, (1/31/2024), Bill reintroduced to eliminate federal taxes on Social Security benefits, extend solvency. (“Originally introduced in August 2022, the bill would repeal the taxation of Social Security benefits starting in 2025.”)

[Robert B. Hubbell Newsletter]

#Robert B. Hubbell #Robert B.Hubbell Newsletter #election 2024 #the economy #GOP lies #Trump lies #media #Asheville

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world-cinema-research · 2 years ago

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Week 5: A.I Artificial Intelligence-Yanissa Agbigay

For this week’s film I chose A.I Artificial Intelligence. This film captures a robotic boy that is adopted as a test case by a Cybertronics employee and his wife. David (the robot) was programmed to love and is seen as part of the family. In his journey, he tries to be real like us humans and seeks to find a middle ground between humans and machines. The main message of this movie is for him to be able to be seen and loved as not just a robot but as their real son. Essentially, Artificial intelligence is the simulation of human intelligence processes by machines.

youtube

The movie A.I. Artificial Intelligence was released in the year 2001. This film was directed by Steven Spielberg, with a costing budget of $90 to $100 million and a box office of $235.9 million. This film is said to be one of Spielberg’s most expensive films that had three different releases. These were done domestically ($78,616,689), Internationally ($157,309,863), and worldwide ($235,926,552). All a success for Spielberg and the cast.

Also, though Spielberg is the director of the 2001 film, the production began with Stanley Kubrick in 1983. It was actually Kubricks Idea for Spielberg to direct the 2001 film. The two met when Spielberg was in England making Raiders of the Lost Ark. Although Kubrick loved the idea of A.I, he abandoned the film for quite some time because, of the lack of technology and how it would play into the movie. When Spielberg came out with Jurassic Park, Kubrick felt hopeful of him to create this movie and direct it how he really envisioned it to be.

Within the same year, on September 01, 2001, Al Qaeda terrorists hijacked four commercial passenger planes in the United States. Two planes were flown into the Twin Towers of the World Trade Center in New York City, causing both towers to collapse. A third plane crashed into the Pentagon, just outside Washington, DC. The collision caused a massive explosion that showered burning debris over surrounding buildings and onto the streets below. It immediately became clear that America was under attack.

https://www.history.com/topics/21st-century/9-11-attacks#world-trade-center

OPEC members decide to cut oil production quotas by an additional one million barrels per day. Secretary Abraham calls the decision "disappointing." OPEC's goal is to keep the price of a basket of crudes between $22 and $28 per barrel, fears production increases and passes in 2000 will lead to a glut of oil as world economic growth slows in 2001, reducing demand for crude.

I found these two quotes from the movie interesting, which is why I had to include them in this essay. The first one says “Human beings have created a million explanations of the meaning of life... in art, in poetry, and mathematical formulas.” I chose this one quote because I found it beautiful because it is true, that though we may not have the same beliefs or experiences we all share some sort of art though it be through music or many other forms of art.

David: What's for dinner tonight? Monica: You know you don't eat. David: Yes. But I like sitting at the table.” I also used this conversation between the two characters because I found it laughable and also very wholesome because David (the robot) is trying to fit in and find a way to be a real person and son to his so called parents.

Overall from what I have read, there are more positive reviews on the movie. Some say they were emotionally touched after watching and that Spielberg did a great job where viewers felt the love and emotion from each character. I’d say this movie is definitely one that is more pricey but it is a movie that is and will continue to have many viewers who enjoy watching and will recommend to other people.

#Youtube

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nicklloydnow · 2 years ago

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“Strained by the need to finance its war machine, the Russian government said on Tuesday that it posted a $47 billion budget deficit in 2022, which is the second-highest since the break up of the Soviet Union.

The budget gap reached 3.3 trillion rubles in 2022, or 2.3 percent of the size of the Russian economy, Anton Siluanov, the country’s finance minister, said during a government meeting on Tuesday.

Russia’s revenues increased by 2.8 trillion rubles in 2022, or $40 billion, but that was not enough to cover rapidly increasing expenditures, which skyrocketed by 6.4 trillion rubles, or $92 billion, officials said.

(…)

Still, the posted deficit for 2022 is second only in Russia’s post-Soviet history to the one reported for 2020, the year the coronavirus pandemic unfolded.

(…)

The Russian economy performed above expectations, however, buoyed by high commodity prices. And some sanctions, like a $60 a barrel cap on the price for Russian oil, were introduced later in the year, softening their effect on the economy.”

“Forty-six per cent of the 167 experts responding to the think-tank said Russia’s failure or break-up could happen in the next 10 years. In a separate question, 40 per cent pointed to Russia as a country they expected to break up for reasons including “revolution, civil war or political disintegration” over that time.

“Ukraine clearly highlights the possibility of internal problems for Russia, and the possibility that the war itself might have boomerang effects for not only its leadership, but for the country as a whole,” said Peter Engelke, the Atlantic Council’s deputy director of foresight who helped to design and interpret the survey.

Western officials say Russia has been significantly weakened by its invasion of Ukraine 11 months ago, including by sanctions and export controls. Economists believe Russia’s productive capacity is steadily degrading as a result of the punitive measures, pushing the country back decades.

(…)

The foreign policy experts also predicted some degree of American decline. While 71 per cent of those polled predicted the US would continue to be the world’s dominant military power by 2033, just 31 per cent believe that the US will be the number one diplomatic power and 33 per cent the pre-eminent economic one.”

“Russia’s fossil fuel export revenues fell 17% last month to their lowest level since before the war began, according to a study published Wednesday by the Centre for Research on Energy and Clean Air (CREA), an independent think tank based in Finland that focuses on energy and pollution.

After the EU imposed new restrictions on Russian energy in December, Russia’s net energy export revenues declined €160 million ($172 million) a day. Russia continues to rake in huge amounts from its fossil fuel trade—around €640 million ($689 million) daily—but the study found that even stricter policies against Russian energy would deal a devastating blow to the country’s economy, and potentially weaken Putin’s ability to maintain his costly war in Ukraine.

(…)

As of Dec. 5, EU vessels can no longer transport Russian crude oil. The ban will be extended to all petroleum products on Feb. 5, which will slash Russia’s oil revenues by another €120 million a day, CREA estimated.

The sanctions have already dug deep into Russia’s oil revenues, as crude oil exports fell 12% in December while crude oil revenues fell by a whopping 32%, the study found. The decline comes as a massive blow to Putin, as oil was among his biggest cash cows at the beginning of the war, while fossil fuel revenues constituted the “financial bloodline for Putin’s war,” Svitlana Romanko, founder of Razom We Stand, an organization seeking a full embargo on Russian fossil fuels, said in a statement accompanying the CREA study.

A June study from CREA found that, of the €93 billion in fossil fuel revenues Russia collected during the first 100 days of the war, half came from crude oil and around two-thirds from all oil products.

(…)

Last month, the EU imposed a price cap on Russian oil at $60 a barrel thereby freezing transactions for Russian oil in markets covered by the cap at any price over that limit. The price cap has so far helped limit Russian oil revenues, the CREA study found, but the authors added that lowering the cap to $25 to $35 a barrel would create even more problems for Russia, while still keeping prices above what it costs to produce and transport Russian oil.”

#russia #ukraine #war #economics #oil

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starseedfxofficial · 3 days ago

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AUDCAD Breakout Trading: Insider Secrets for Precision and Profit The Hidden Power of AUDCAD Breakout Trading: Ninja Tactics for Savvy Traders Breakout trading in the AUDCAD currency pair often feels like stepping into a high-stakes heist movie. The market’s movements can be as unpredictable as a cat with a laser pointer, but the rewards? Absolutely worth the hustle. Let’s dive into some advanced strategies, lesser-known secrets, and game-changing insights that can turn your trading experience into a blockbuster success. Why Most Traders Get It Wrong (And How You Can Outsmart Them) First, a reality check: the AUDCAD isn’t your typical headline-grabber. Many traders dismiss it, focusing instead on flashier pairs like EURUSD or GBPJPY. But here’s the kicker: AUDCAD often exhibits less volatility, which makes it a dream for breakout traders who value precision over drama. The mistake? Jumping the gun. Most traders identify potential breakouts based on surface-level trends without considering critical factors like economic correlations between Australia and Canada. Remember, both countries are commodity powerhouses, with oil and gold often playing the role of market puppeteers. Understanding this dynamic can help you spot breakout patterns with surgical precision. Ninja Tip: Always check commodity reports alongside your technical analysis. For example, if crude oil prices are surging, expect CAD to gain strength—but watch how AUD reacts to gold prices in the same window. The Forgotten Strategy That Outsmarted the Pros Breakout trading isn’t just about identifying a level and hoping for fireworks. It’s about understanding when the party is most likely to start. Enter the "Liquidity Trap Setup," a strategy that’s as sly as it sounds. Here’s how it works: - Identify a False Breakout: Look for levels where price briefly pierces through support or resistance before returning to its range. This fake-out traps eager traders on the wrong side of the market. - Spot Accumulation Zones: Once the false breakout reverses, monitor areas of price consolidation. These zones often act as the launching pad for the real breakout. - Ride the Momentum: Use tools like the ATR (Average True Range) to confirm the strength of the move before entering your position. Example: Let’s say AUDCAD is testing a major resistance level at 0.9300. A false breakout might spike to 0.9320 before reversing to 0.9280. If you’re watching closely, the consolidation around 0.9285-0.9295 could signal a genuine breakout opportunity. Why Conventional Wisdom Is Holding You Back You’ve probably heard that breakout trading works best during high-volatility sessions, such as the overlap between the London and New York markets. While this is true for some pairs, AUDCAD often shines during quieter periods—thanks to its lower volatility. Contrarian Insight: Focus on the Asian trading session. The Australian dollar’s close ties to Asian economies often create subtle breakout opportunities during these hours. Meanwhile, the Canadian dollar’s slower activity allows you to spot clean, actionable patterns without the noise of other major pairs. The Hidden Patterns That Drive the Market Ever heard of "Commodity Divergence Signals"? This strategy leverages discrepancies between gold and oil prices to predict AUDCAD movements. Here’s the deal: - When gold rises faster than oil, AUD tends to gain strength over CAD. - Conversely, if oil outpaces gold, CAD often takes the lead. Use this insight to filter potential breakout trades. For instance, if you notice a bullish divergence in gold compared to oil, look for upward breakouts in AUDCAD. Pro Tip: Combine this with the MACD indicator to confirm momentum. If the MACD aligns with the commodity divergence signal, you’ve struck trading gold—literally. How to Predict Market Moves with Precision To trade breakouts like a pro, timing is everything. That’s why "Volume Surge Indicators" are your best friend. These tools identify periods of increased trading activity, often preceding significant price moves. Here’s how to use them: - Set Alerts for Volume Spikes: Platforms like MT4/MT5 or TradingView allow you to set alerts for unusual volume activity. - Pair Volume with Volatility Indicators: Tools like Bollinger Bands can help you confirm whether the volume spike is likely to result in a breakout or a false alarm. - Watch Key Levels: Combine volume analysis with major support/resistance levels to pinpoint breakout opportunities. Real-World Example: Imagine AUDCAD is hovering around a key level of 0.9400. A sudden volume spike—accompanied by widening Bollinger Bands—could indicate an impending breakout. Wait for a decisive candle close above 0.9410 to confirm the move. Elite Tactics for Risk Management No breakout strategy is complete without rock-solid risk management. Here are three battle-tested tips: - Position Sizing: Use tools like the StarseedFX Smart Trading Tool to calculate your lot size based on your risk tolerance and account balance. - Stop-Loss Placement: Set your stop-loss just beyond the breakout level to protect against false moves. - Scale Out: Lock in profits by closing part of your position as the trade moves in your favor. This approach minimizes risk while maximizing rewards. The One Simple Trick That Can Change Your Trading Mindset Breakout trading isn’t just about charts and numbers; it’s about psychology. The fear of missing out (FOMO) can lead to impulsive decisions, while overconfidence might tempt you to ignore warning signs. Mindset Shift: Treat every trade like a test. Instead of focusing on the outcome, evaluate how well you executed your strategy. Did you stick to your rules? Did you let emotions cloud your judgment? Your Next Steps By now, you’ve learned: - How to identify breakout opportunities in AUDCAD using advanced strategies. - Why commodity correlations and liquidity traps are game-changers. - How to use volume and volatility indicators for precision timing. - The importance of risk management and mindset in achieving consistent results. Ready to take your trading to the next level? Explore these resources: - Exclusive Forex News & Economic Indicators - Free Advanced Forex Courses - Join Our Expert Community - Download Your Free Trading Journal —————– Image Credits: Cover image at the top is AI-generated Read the full article

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