Wednesday, September 1, 2021

Taking Inventory -- Where Are We Today? -- Commentary -- September 1, 2021

Energy:

  • Europe in deep doo-doo: energy prices rising faster than ever expected
    • Russia controls natural gas, Nordstream 2
    • Groningen days are coming to an end;
  • US:
    • current administration hates fossil fuel
    • even as fossil fuel demand is soaring in the US
    • OPEC / Russia in control (again)
    • Keystone XL killed; this will come back to haunt us; no one will connect the dots;
    • Russia becomes second biggest source of imported oil for US
    • did we mention: even as fossil fuel demand is soaring in the US
      • obvious that wind / solar can't possible meet demand

War is over

  • that's a biggie; it's not Vietnam but it's still a biggie; in some regards it might be bigger than Vietnam:
  • US intel community: circular firing squad

Hurricane Ida:

  • a regional story, that's all

Covid-19:

  • things are starting to become clear;

Investors:

  • the bull market continues; maybe more than ever
  • NASDAQ up 116 points; Dow and S&P 500 up a bit, not much
  • AAPL: hits an intra-day high; still lags the market
  • trading
  • tax plan in Congress hits obstacle; Heidi Heitkamp leading opposition charge;
  • if they can't pass this tax bill, nothing much will pass?

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