Discussion about this post

User's avatar
Tim Martin's avatar

💯 thanks for your deft analysis. So basically I’m hearing you suggesting that innocent lives lost are the true cost of keeping capitalism from collapsing, yes? If yes then what else is new, since colonialism was rebranded and disguised as capitalism? If yes then this would be another peg to hang one of my favorite mantras on, which is, “endless wars against fabricated enemies to maintain the cult fantasy of endless economic growth”, which I often refer to as the goal of US Empire managers’ and the reason why our socioeconomic system cannot afford health and safety, despite politicians claiming to want to get folks home safely... and reason to revolt with a vote for third party candidates this election cycle like there’s no time to lose. Because climate shocks are here to stay and accelerating, which markets cannot survive… so the collapse of capitalism is inevitable.

Expand full comment
Seb Kennedy's avatar

It's the same in natural gas. Just look at how the 'scarcity narrative' has propped up prices all summer, contributing to a 75% increase in wholesale gas futures traded on the TTF hub in the Netherlands, even though there was no material change to supply-demand dynamics. Big bucks for hedge funds and money managers, who take bullish positions, precipitate a bull run, cash out and repatriate profits to overseas clients. All funded by hard-pressed consumers who just want to stay warm and keep the lights on.

Lots more on that here: https://www.energyflux.news/p/from-risk-premium-to-risk-off

And here: https://www.energyflux.news/p/podcast-draghi-e-fwd-event

Expand full comment
15 more comments...

No posts