Knew a fellow once who always concluded with whenever he presented anything novel or new: "It's just a thought."
Well, here's one for you and next year and maybe even 2023.
Hardly anyone is talking about the food shortage that is likely to explode on us in 2022. Part of the hate methane farting crowd is contributing to fewer cattle and higher meat prices ahead. Just heard someone say: “They can go higher?” Yea, they can. Corn prices play a huge role in cattle prices. There is a huge fertilizer shortage that comes from in part higher energy prices. The shortage in fertilizer is planned.
Yea, we said it, planned.
The methane fart haters are also contributing to higher energy prices. Higher energy prices lead to higher fertilizer prices. OMG, things are so interconnected aren't they.
***
IKEA furniture is about to get more expensive as the Swedish retailer's parent company, Inter IKEA Group, expects to raise prices far into fiscal year 2022. Source.
According to Inter IKEA Group's financial summary for fiscal year 2021, the company has struggled to keep its warehouses and stores stocked amid a "steep increase" in raw material costs driven by transport and labor shortages. Inter IKEA Group noted that it spent 250 million euros to mitigate its supply chain disruptions during fiscal year 2021.
***
Is it still Powell or is it Brainard. Both seen at WH yesterday. Link
(Reuters) - Speculation is mounting that Federal Reserve Chair Jerome Powell’s renomination is imminent. But even if distant-second favorite Lael Brainard gets the nod, markets would hardly notice the difference.
A flurry of activity on betting websites late on Thursday ramped up the probability of Powell being renominated to over 80%, and slashed Fed Governor Lael Brainard’s chances to less than 10%. Reports circulated that Powell had just visited the White House.
Despite the odds, Brainard remains the most likely replacement if the Biden administration decides not to replace Powell, so the implications of a Brainard-led Fed is still a factor for financial markets attempting to spec out all options.
Widely viewed as the most dovish member of the Federal Open Market Committee, investors would most likely see her ascension to the Chair as a sign of looser monetary policy relative to what is currently discounted.
***
Nonfarm payrolls up by 531,000 and unemployment down at 4.6% topping consensus on both scores.Mish.
Be bold. Read Rl’s Newsletter.
***