To The Moon

News and my thoughts from last week (02Dec24)

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Tender rejections hit 29-month high at 6.67%. While the trucking industry always reacts to the Thanksgiving holidays, in 2022 and 2023 rejections were muted. This Thanksgiving is the first since 2019 that the industry is reacting to "normal" events. - X user Craig Fuller.

• TRUMP: BRICS TO FACE 100% TARIFFS IF NOT COMMITTED TO US DOLLAR. How far can one go in a tariff war when you are having a trade deficit?

• Big Tech spent a decade doing everything possible to be the best conceivable progressive ally. They got treated with utter contempt, pounded daily, crucified in return. A full rethinking is required. X user Marc Andreessen

• UKRAINE TO NATO: SEND US AN INVITE, NOW! Ukrainian Foreign Minister Andrii Sybiha urges NATO for a formal membership invitation at the upcoming Brussels meeting. This bold move aims to thwart Russia's efforts to block Ukraine's entry—a top Kremlin agenda. Despite NATO's assurances of Ukraine's "irreversible" path to membership, no set timeline or formal nod has emerged, as consensus among the 32 members remains elusive. Source: Reuters

   

  What a nice way to drag NATO into the conflict. What do I know? The people should be smarter than me. When bombs fly over the head, things change. Will it be too late?

• Mark Zuckerberg reportedly desires to be a part of the “reform movement” Trump is leading and views Trump’s second term as a chance for “national renewal.” - from X user Leading Report

• there is a risk of being "de-banked" after being identified as a politically exposed person (who expressed a different political perspective). The amount of overreach.

• The Financial Stability Board (FSB) places JPMorgan Chase as the only bank in “bucket 4” – a distinction that forces the lender to hold an additional 2.5% of common equity as a percentage of its risk-weighted assets. - Daily Hodl

US household debt HIT an all-time high of $17.94 TRILLION IN Q3 2024. Household debt has been rising for 10 years STRAIGHT. What is the true shape of the US consumers' finances? - X user Global Market Investor

• AMAZON WORKERS PLAN BLACK FRIDAY STRIKES Workers in 20+ countries, including the U.S., Germany, and Brazil, are striking over low pay, unsafe conditions, and weak climate policies. In Germany, thousands will walk out. In New Delhi, workers protest heatwave mistreatment, while NYC demonstrators target Jeff Bezos’ penthouse. Amazon downplays the strikes, touting $22/hour wages and benefits. Critics call it union-busting and stalling. Will packages be delayed? Probably not. But with $170B in holiday sales last year, workers want Bezos to notice. Source: ABC

• JAPAN'S MINISTRY OF ECONOMY, TRADE AND INDUSTRY EXPECTS NOVEMBER OUTPUT TO DECLINE BY 2.2% MONTH ON MONTH.

• The shipping industry is contending with a worldwide shortage of seafarers, and it is fueling a troubling mix of fake resumes, accidents at sea, and elevated freight rates. - CNBC

• Record renewables go into the grid in 2024, generating 45% of electricity in 2025 - The Conversation

• Germany closing factories at home, opening them in China Rising energy costs, renewable energy emphasis and rigid regulations all driving Germany’s deindustrialization and exodus to China - Asia Times

• A market must be sustained by value and not hype. What happens when the hype is over?

• The Bargersville, Indiana Police Department spends $400 a month to charge its 13 Teslas, compared to $3,100 a month to fuel the same number of gas-powered F-150 police trucks. Fuel and maintenance savings from its Tesla fleet, along with a couple other smaller things, enabled the department to hire two additional officers. Source: Police1

• RFK Jr. exposes the truth about the United States proxy war in Ukraine "It's a money laundering scheme."

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Texas Sues BlackRock, State Street, and Vanguard for Illegally Conspiring to Manipulate Energy Markets, Driving Up Costs For Consumers Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized ‘environmental’ agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices. Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law. - X user Attorney General Ken Paxton

• Many of Morgan Stanley’s high-net-worth clients’ assets were flagged as being at high risk for money laundering. - Fortune

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PCE rises. Federal Reserve, What is your next move? What does it mean when the rise of inflation meets expectations? -CNBC

• Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory that automaker paused

• 25% tariffs on North American production means that production is likely to move to other parts of Asia and doesn’t secure our supply chains. - X user Craig Fuller

• Volkswagen is set to lose $1.6 billion after EV battery maker Northvolt filed for bankruptcy in the U.S. Northvolt is one of the largest tech failures ever and could lose more than $13 billion of investor money.

• Germany says Russia produces as many weapons in three months as the entire European Union does in a year. Affordability, Sustainability and supply chain - without which, how to win a war if this can be dragged out into years?

• Data centres powering artificial intelligence could use more electricity than entire cities -CNBC

From X user The Kobeissi Letter

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US personal savings have just been revised down by a MASSIVE $140 billion for 2024. The savings rate for September was revised to 4.1% from the 4.6% initially reported in October. The rate for August was adjusted down to 4.4% from 4.8% reported last month. Overall, the savings rate for October came in at 4.4%, near the lowest since the beginning of 2023. Even US personal savings data is now being revised lower. What is happening here?

Are we able to see a breakdown by the different demographics and income bracket?

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This is concerning: Auto loan early delinquency rates jumped to 8.12% in Q3 2024, the highest in 13 years. Serious delinquency rates surged to 2.90%, also the highest in 14 years. 90+ day delinquencies are now just 58 basis points below the record levels seen in 2009. In 2024, auto loan delinquencies have risen at the fastest pace since the 2008 Financial Crisis. All while US households' auto debt rose by $18 billion in Q3 and hit a new all-time high of $1.64 trillion. Americans are missing loan payments as if a recession is here.

Without cars, it is very challenging to live outside major cities. How can the citizens go to work or get groceries?

@TigerStars

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