According to the White House, China has been teaming up with criminals in order to attack American cyber-assets. The Financial Times reports: The White House has accused the Chinese government of teaming up with criminal gangs to commit widespread cyber attacks, including one on Microsoft this year that affected tens of thousands of organisations. The accusation came as the US Justice department unsealed an indictment alleging that four Chinese nationals affiliated with the Ministry of State Security had overseen a separate campaign to hack companies, universities and government entities … [Read more...]
Archives for July 2021
Biden Keeps This Trump Policy to Thwart China
The administration of Donald Trump recognized that extreme ultraviolet lithography systems were essential to national defense, and put pressure on the Netherlands to prevent the sale of any of the machines to China. The Biden administration has continued Trump's policy. The Wall Street Journal reports: Some of the tech industry’s most important machines are made next to corn fields in the Netherlands. The U.S. government is trying to make sure they don’t end up in China. Beijing has been pressuring the Dutch government to allow its companies to buy ASML Holding ASML -0.63% NV’s marquee … [Read more...]
The Fed is No Queen’s Gambit Child Prodigy
You need a magnifying glass to see how low interest rates are today. I save you time with my chart series here. When everyone's saying, "the Fed isn't raising rates until late 2022 or early 2023," don't you think that's already baked into today's cake? Of course, it is. When inflation is already an issue, the Fed doesn't want to rock the boat and increase the cost for payments on our nation's debt. The Fed is hoping for a good outcome just like any other human. And that's the problem with human nature: hubris. Instead of having a set of instructions and rules to follow in setting rates, … [Read more...]
States Outlaw Mask Mandates for Kids in School
States are acting to protect children from school councils who would require masks in schools. More states are requiring schools to offer mask-choice to children. The Wall Street Journal reports: More states are blocking K-12 schools and college campuses from requiring vaccines and masking, bucking recent federal recommendations that eligible students should be vaccinated and that unvaccinated students should wear masks when in-person learning resumes in coming weeks. Bans blocking schools and colleges from requiring Covid-19 vaccination or proof of vaccination have passed in at least … [Read more...]
No Workers and No Chips Holding Back American Factories
American factories are being held back by a lack of people willing to work, and by a lack of chips to put in products. Justin Lahart reports for The Wall Street Journal: Factory production is having a hard time shifting into higher gear. This isn’t because manufacturers don’t want to turn their wheels any faster, but because for now they can’t. The Federal Reserve on Thursday reported that industrial production—the combined output of U.S. factories, utilities and mines—rose 0.4% last month from May. That increase was largely due to a 2.7% increase in utility output, as the country cranked … [Read more...]
Do You Know the Five Colors of Hydrogen?
We’re in the early innings of the green energy ballgame. Don’t let windmills and solar farms blind you to the unique opportunities being unearthed over the rainbow. Read here some of Dave Sheppard's piece in the Financial Times on hydrogen. He writes: Hydrogen has been billed as a fuel of the future, with oil and gas companies and governments hailing it as the solution to decarbonising parts of the economy that are not easily electrified. Yet the fuel has experienced previous false dawns, and energy majors backing hydrogen are having to step up their efforts to explain what role they see … [Read more...]
As Inflation Mounts, Americans Prepare to Borrow
Many Americans have used their stimulus money to clear their debts. As inflation surges, they may soon need that credit to borrow money for what they want. David Benoit and Ben Eisen report at The Wall Street Journal that Americans aren't borrowing, yet, but may soon do so. They write: Here’s what the biggest U.S. banks are telling us about the state of the economy. Consumer spending is returning to pre-pandemic levels, and borrowing appears poised to rise. Markets are cooling, but deal making is as hot as ever. Still, the recovery remains vulnerable, bank executives said. Covid-19 … [Read more...]
Biden Admin Aims for Vast Energy Storage Capability in US
Utility Dive outlines a new plan by the Biden administration's Department of Energy to encourage the deployment of massive energy storage assets in the United States. Jason Plautz writes: The Biden administration has set a goal of powering the country with 100% clean electricity by 2035, which experts say will require vast deployment of energy storage to collect renewable energy when it is generated and distribute it to the grid when it's needed. Storage installations have boomed recently; a Wood Mackenzie analysis with the Energy Storage Association found that 1,464 MW of new storage came … [Read more...]
Your Survival Guy Is Uneasy about This Market
Your Survival Guy received a chart package yesterday that leaves a lot to be desired. I’m talking about the desperate state of the yield on Treasuries thanks to three nasty cracks in the stock market so far this century. Note: When stocks fall, Treasury prices usually rise as investors flee to the full faith and credit pledge of U.S. government bonds, for whatever that’s worth. Take a minute to see how low yields are (which move in the opposite direction of bond prices). The series of charts below runs from the beginning of this century and displays maturities from as short as 12-months to as … [Read more...]
Is This Time Different For Hydrogen?
Every so often the market works itself up into the idea that hydrogen is the next big thing. Investments are made, research is performed, and it turns out that hydrogen wasn't ready for prime time. Is this time different? In the Financial Times, David Sheppard explains why some people think so, writing: Hydrogen has been billed as a fuel of the future, with oil and gas companies and governments hailing it as the solution to decarbonising parts of the economy that are not easily electrified. Yet the fuel has experienced previous false dawns, and energy majors backing hydrogen are having to … [Read more...]