According to the AAA, the record average gas price for regular unleaded gas was $4.114 on 7/17/2008. Diesel hit a record on the same date at $4.845.
Price History
LA Gas Price
$7 a gallon! “Gas spikes to nearly $7 a gallon in LA County” https://t.co/wEbd2uoxIO
— The Sagami Letter | Tony Sagami (@Tony_Sagami) March 7, 2022
Wheat Hits New Record High
Wheat futures were halted limit up at the open today and closed at a new record high.
Nearly all commodities are spiking higher.
Canadian Crude
With the U.S. pondering a ban on Russian oil, the price of Canada’s benchmark heavy crude climbs above $100 a barrel for the first time since 2008 https://t.co/xhUqhkbEOo
— Bloomberg (@business) March 7, 2022
Nickel Spikes 82 Percent
“Bloomberg data shows 70% of the global supply of nickel is used to produce stainless steel. About 7% of the metal’s supply is used in batteries for electric vehicles.”https://t.co/CPdHlw2Fda pic.twitter.com/WicAEOCJOu
— The Passenger (@gordonschuecker) March 7, 2022
Fertilizer
Sanctions on Russia threaten to restrict shipments of fertiliser to Brazil, an agricultural powerhouse. This will help send food prices up, up, & away. One more unintended cost of sanctions. It’s always wise to tally benefits & costs before taking action.https://t.co/nDaXBPScfp
— Steve Hanke (@steve_hanke) March 7, 2022
Allow me to add some color to your thread 🧵 https://t.co/XOtRT8kerf
— Resource Tweeter (@yeticapital99) March 7, 2022
Stock Earnings
Thanks, Julian! As Druck has pointed out, the combination of rising interest rates, oil prices and DXY is a very bearish brew for earnings. pic.twitter.com/XFiCfCZJDG
— Jesse Felder (@jessefelder) March 7, 2022
Alleged “Benefits of Running the Economy Hot”
Charles Evans, president and chief executive officer of the Chicago Fed wants to run the economy hot.
For discussion, please see Chicago Fed President Praises the “Benefits of Running the Economy Hot”
Hello Charles Evans, Care to Reconsider?
Real Personal Income Declines for the 8th Time in 9 Months
Real incomes are sinking but spending isn’t. …. Yet
For discussion, please see Real Personal Income Declines for the 8th Time in 9 Months
R E C E S S I O N
@KeithMcCullough and @Hedgeye called it… pic.twitter.com/ot2ShBc55m
— Robert LeRoy Parker 🤠 (@Butch_Cassidy56) March 6, 2022
Pain Levels
The stock market is not close to factoring in these global disruptions
A recession is baked in the cake. Stock market declines even if there miraculously is no recession.
S&P 500 – What is the Pain Threshold for the Fed and Traders?
How low will the bear market to go?
This post originated on MishTalk.Com.
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Mish
The Biden effect, Markets crash , push for war and got WAR. and looming Recession.
The Trump effect, profits and markets went up, Up and UP , World at Peace.
Lets get back to peace , tranquility and making money. BRING BACK TRUMP and FIRE Biden.