Opening Gambit -- Throwing Jello At The Wall -- Let's See What Sticks -- October 26, 2021

Inflation:

• countries where central banks have raised rates: highest inflation
• US: nowhere near raising rates
• Spain: 23% increase in food prices "overnight"

Janet Yellen:

• will impose taxes on coins earned by Mario
• "won't be a coin tax, but rather a tax on those little gold things that Mario jumps for"

Elon Musk:

• really, really rich

Tesla:

• really, really ... amazing
• Hertz deal: analyst has it all wrong; using "old textbook" to analyze deal;
  

US equity markets:

• futures suggest another good day for those "long" and fully invested

Medicare and "open season":

• does anyone really understand any of this

Obamacare and "open season":

• no one understands this

Hedging:

• CLR schools PXD
• PXD: huge loss -- mostly due to hedging; bit off more than it could chew?

EVs:

• winner: Ford
• if I were to invest in EVs, my first choice? Ford

Unions:

• Teamsters kicked out of XTO Logistics facility in California; breaking point?
• Let's go, Brandon

Recession:

• yeah, likely, but different this time

Coal:

• China and Australia talking

Cotton:

• China importing US cotton
• US cotton + shipping < cost of producing cotton in own country (China)
• think about it: all those container ships sailing back empty to China

Saudi Arabia:

• if one doesn't consider the very likely possibility that KSA has no swing capacity, is not reading the tea leaves;
• more and more hints from Saudi Arabia they are at their max when it comes to crude oil, at least in short term;
• huge demand for fresh water
• needs fresh water to frack -- they wouldn't be going their route if they didn't have to
• Red Sea drilling
• pivots to natural gas

Green salad choice?

• green cabbage beats iceberg lettuce; no contest;