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Oil not significantly in the red on a day when the world decides to release the largest oil reserves ever tells you all you need to know at this point.
Marc-André Fongern
28.3K posts
Marc-André Fongern
@Fongern_FX
Lawyer. Banker. Views my own.
- VW, profits slump by 64%. Audi, profits slump by 91%. BMW, profits slump by 84%. Mercedes-Benz, profits slump by 54%. Germany's core industry is staring into the abyss.
- I've already put some money aside to cover my electricity bill here in Germany.
- ⚠️ In Germany, politicians warn citizens to be prepared for blackouts, gas shortages and energy bills of 1500€ - 3000€. A disaster waiting to happen.
- Goldman Sachs predicts UK inflation may hit 22%. A scenario that would mean pure chaos. Let that sink in.
- Absolutely mind-boggling. Central banks can hardly hike rates any more without pension funds, the housing market, or hedge funds blowing up. It's frightening how f*cked we are.
- What the Fed has achieved so far: 1) Intensified inequality 2) Made the rich even richer 3) Boosted inflation alarmingly 4) Inflated stocks massively 5) Engaged in insider trading Impressive. Congratulations.
- ⚠️ *FED ANNOUNCEMENT: FED OFFICIALS DEEPLY REGRET THEIR INSIDER TRADING ACTIVITIES AND ARE NO LONGER BUYING STOCKS, INSTEAD THEY ARE NOW ENTERING SHORT POSITIONS.
- And so it begins. BASF to downsize ‘permanently’ in Europe. World’s biggest chemicals company says high energy costs make region increasingly uncompetitive. - FT
- Doctor: Are you sexually active? Me: Well, I analyse central bank meetings and financial markets... Doctor: A simple ''No'' would have been fine.
- AWESOME! Germany's Chancellor Scholz says we need €200 billion to prevent bankruptcies and job losses. A more expansionary fiscal policy during times of painfully high inflation. This will end badly.
- When shit starts hitting the fan, I wanna own US dollars and not Bitcoin.
- ⚠️ Rumours of a potential BoE emergency rate hike any time soon, at least according to Deutsche Bank (via Reuters & FT). Welcome to emerging markets trading, ladies and gentlemen.
- Things are getting serious. In German media, experts strongly warn of prolonged blackouts in winter along with gas shortages (energy consumption is far too high now, according to experts). What a time to be alive.