The Economy

Yellowstone is spectacular. The rest of Wyoming is full of rocks, tumbleweeds and pronghorn — and not much else.

 

If China's economy is struggling, and facing deflation, that's good for the US economy yes?

 

Maybe!

What China’s Economic Woes May Mean for the U.S.

But maybe not.

China's tanking economy is costing major US companies and could throw cold water on America's economic boom

 

No. The Chinese economy is around 15% of the world economy. While direct trade with China is not a large part of U.S. GDP a recession in China would effect economies all over the world The Chinese are the biggest export market for many countries. If the Chinese buy less the United States will feel the ripples.

 

We’re all in the same boat now. Which is why trade wars are stupid.

 

In Tulsa at a gigantic Dillard’s, they have bicycle locks securing all the Polo merchandise - because it’s right by an exit.

 

Funny how that works.

 

The sad thing is, a lot of companies won't let employees stop a shoplifter in the act anymore — that's a firing offense. All you can do is get a license number and call the cops. Maybe they'll look into it, maybe they won't.

 

China reaches peak gasoline, or “It’s all downhill from here!”:

China has been the largest driver of global growth for refined oil products like gasoline and diesel over the last two decades. But EV adoption rates in China are now soaring, with August figures likely to show plug-in vehicles hitting 38% of new passenger-vehicle sales. That's up from just 6% in 2020 and is starting to materially dent fuel demand.

Fuel demand in two and three-wheeled vehicles is already in structural decline, with BNEF estimating that 70% of total kilometers traveled by these vehicles already switched over to electric. Fuel demand for cars will be the next to turn, since well over 5% of the passenger-vehicle fleet is now either battery-electric or plug-in hybrid. The internal combustion vehicle fleet is also becoming more efficient due to rising fuel-economy targets.

Diesel demand for heavier vehicles will keep growing for a bit longer, but even there a seismic shift is underway. Electric, fuel cell and battery-swapping options have quickly climbed to 12% of light commercial vehicle sales and 4% to 5% of medium and heavy commercial vehicle sales. That heavy-duty figure is likely to climb to over 10% by 2025. …

There was one other interesting detail in Sinopec’s announcement: It also called out the effects China’s ride-hailing fleet is having on urban gasoline demand.

Vehicles used for ride-hailing in China are far more likely to be electric — their share is nearing 40% of the fleet — than those that are privately owned. Electric ride-hailing vehicles are also more productive than their gasoline-powered counterparts, accounting for 50% of the kilometers traveled on market leader Didi’s ride-hailing platform in December. …

The Sinopec announcement highlights how looking just at the fleet of vehicles can lead one to miss the full story with respect to energy impact. I’ve written previously about how in Norway, EVs are now covering more ground on average than their internal combustion counterparts.

Norway is a small market, with almost no impact on overall oil demand, but China is the opposite. The speed that oil gets squeezed out of the transport mix depends on how fast countries like China switch over the number of kilometers traveled to electric — not just the number of cars and trucks.​

Sinopec, China’s largest oil refiner, advanced its previous forecast of peak gasoline by two years.

China Reaches Peak Gasoline in Milestone for Electric Vehicles

 

The real problem is the workers aren’t subservient enough.

https://x.com/financialreview/status/1701440109948887057?s=46&t=wVPJyeunUA-4G1zuWq69ug

 

If you’re wondering if he looks like what you think he looks like, he looks like that.

 

Alfalfa Ears GIF - Alfalfa Ears Moving The Little Rascals - Discover & Share GIFs

Fuckers won't let me post a GIF so there you are.