They’re not having any real impact on Russia at all. It’s the reason for much of the inflation we see and will drive us into recession. Sanctions have hurt the West far more than Russia. Make no mistake that the intentions of the sanctions against Russia were noble but massively misdirected. In my opinion oil can be slowly accumulated now in any way you see fit. Wait for PMIs to turn for that confirmation though. Copper will hit points at which accumulation as the generational buying opportunity of the year becomes mandatory. The disconnect in the market is phenomenal.įact is that China does start being China again. It’s also a part of the reason why oil is weakening despite there being such a massive supply issue. If David says it’s important then it’s important. Every single economist I’ve had on shows is following this extremely closely. This is a super important story right now. With a rising USD and slumping China we’ll see more softening in the commodities space.Ībout one-third of demand for steel comes from the Chinese building sector so if that turns to cactus then iron ore gets sold off and everything attached to steel and building also gets sold off. Whoever said Chinese data was too manufactured in a straight line?Ĭhinese GDP last week was bad. I’m not sure what reminded me of that yarn from that long summer of 1995. The laughter that ensued kept us warm for the rest of the night and erased any of the memory of spraying too much mossie spray inside the tent (also the reason my sense of taste is borderline non-existent but that’s a different story). So that means your brothers are… also your cousins?” My friend then pipes up after a short silence in the tent. Their dad had the first three with his first wife, divorced her, married her sister and had our two friends. The two brothers were talking about their family growing up and their other three elder brothers. There’s four of us in the tent: myself and a mate and two brothers a year apart in age. I was having a campout with a few really good mates on my high school basketball team and we’re talking about family and our lives. A funny incident that helps define who you are in your youth.
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