Baltic Dry Index. 2131-61 Brent
Crude 64.95 Spot Gold 1516
Never ending Brexit now October 31, maybe. 38 days away.
Trump’s Nuclear China Tariffs Now In Effect.
USA v EU trade war postponed to November, maybe.
Happy Equinox Day! Whether in the northern
hemisphere enjoying the Autumn Equinox, or the southern hemisphere enjoying the
Spring Equinox, all of us get an almost exact equal day and equal night.
It is UN week in New York City, or to be more precise,
Manhattan, since very few of the great and the good, and the not so good and
not so great “leaders,” ever leave Manhattan
except to use the airports. This year,
it’s all supposed to be about saving the planet from mankind’s modern lifestyle. Somehow, we are all going to go back to a
lifestyle without plastics and fossil fuels.
Every world leader, with any self-esteem, ego, and not
fighting an election or under a corruption cloud, heads this week to Manhattan
to tie up the already gridlocked traffic, with pretentious motorcades and
photo-ops. They also indulge in self indulgent speeches at the General Assembly
podium, politely listened to by most, and then generally ignored.
This week they might get forced to share some of the
limelight with the Fed and a gaggle of other central banksters, if the bank
funding crisis that began last week, spins out of central bankster control. See
yesterday’s “Special Update edition” for more on what can go wrong very fast if
the “next Lehman” is starting to arrive. Deutsche Bank?
Below, Asia waits for clarity. China tries to undo Friday’s
trade talk gloom. America and GB seem to have agreed on timetable for a trade
deal after Brexit. The EU’s car makers get into a belated panic over Brexit.
Well yes, after three years of Barnier and Juncker essentially blocking a
workable deal, now just 38 days away from Brexit, the penny has finally dropped in
the EU.
One of my earliest memories is walking up a muddy road into the
mountains. It was raining. Behind me, my village was burning. When there was
school, it was under a tree. Then the United Nations came. They fed me, my
family, my community.
Ban Ki-moon
Asian shares dip on geopolitical tensions, oil up 1%
September 23, 2019
/ 1:03 AM
SYDNEY (Reuters) -
Most Asian share markets slipped on Monday as investors waited for more clarity
on the Sino-U.S. trade talks after recent negotiations, while oil gained more
than 1% as Middle East tensions remained elevated.
Analysts said investor sentiment was fragile with civil unrest in Hong Kong, tensions in the Middle East and worries over whether the United States and China would sign a trade deal soon. Moves were further exaggerated by low volumes as Japanese markets were shut for a public holiday.
Chinese shares opened in the negative territory, with the blue-chip index .CSI300 down 1.5%. Hong Kong's Hang Seng index .HSI was 0.8% weaker after a weekend of sometimes violent protests that saw pro-democracy activists vandalise a railway station and shopping mall.
South Korea's Kospi .KS11 was a touch weaker after disappointing trade data while Australian and New Zealand shares bucked the trend and were both about 0.3% higher.
That left MSCI’s broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS down 0.3% at 509.94 points. It is still up more than 3% so far in
September.
“There are real concerns about the impact on economies from the trade
dispute,” said Michael McCarthy, Sydney-based strategist at CMC Markets.
“People are probably getting an idea that this will be a long negotiation. And
the longer it lingers the more impact it will have economically.”
----Over the weekend, the U.S. Trade Representative’s office issued a
brief statement characterising the two days of talks with China as
“productive.” It added that a principal-level trade meeting in Washington would
take place in October, as previously planned.
China’s Commerce Ministry, in a brief statement, described the talks as
“constructive”, and said they had also had a good discussion on “detailed
arrangements” for the high-level talks in October.
Additionally, the United States removed tariffs from more than 400
Chinese products in response to requests from U.S. companies.
Despite the improved tone, markets still remain unconvinced about the
possibility of deal soon.
More
Chinese farm official says 'good outcome' from trade talks - state media
September
23, 2019 / 4:25 AM
BEIJING (Reuters) - China did not cancel planned visits to farms in the
United States because of challenges in trade negotiations with the U.S., the
country’s senior agricultural representative in the talks said, according to a
report by state-backed media group Yicai on Sunday, who added the talks last
week achieved a “good outcome.”
Chinese officials on Friday unexpectedly cancelled visits to farms in
Montana and Nebraska scheduled for this week, as deputy trade negotiators wrapped
up two days of talks in Washington, casting further uncertainty over a
Sino-U.S. trade deal.
Last week’s trade negotiations were constructive and made thorough
preparation for talks in early October, said Han Jun, the deputy director of
the Office of the Central Rural Work Leading Group, at an event in Washington,
D.C., according to Yicai.
“There was a good outcome from the negotiations in the agriculture area
too. The two sides had thorough and candid communications,” Han said, according
to Yicai.
The farm visits were planned separately to the trade talks, and the U.S.
side has said they will send out another invite another time, Han said,
according to the report.
The farm visits were seen as a goodwill gesture, which could have led to
purchases of U.S. soybeans and pork.
The cancellation pushed major global stock indexes lower on Friday as
optimism about a trade deal faded.
China is willing to further expand the scale of Sino-U.S. agricultural
trade and deepen cooperation between the two countries in the agriculture
sector, Han said, according to the report.
More
UK-U.S. trade deal to be struck by July, Trump and PM Johnson agree - The Sun
September 23,
2019 / 2:04 AM
LONDON (Reuters) - British Prime Minister Boris Johnson and U.S.
President Donald Trump have agreed to strike a UK-U.S. trade deal by July next
year, The Sun newspaper reported.
Trump and Johnson could publicly commit to the timeline when they meet
in New York this week.
“The political will is there now on both sides to do the deal by July,”
The Sun quoted a senior government source as saying. “It’s a great win for us,
and Trump is also really keen to shout about it in the States.”
“There is also a recognition on both sides of the Atlantic that it must
be done by then because the U.S. election cycle starts soon afterwards,” the
source was quoted as saying.
Billions of euros, millions of jobs: Europe's carmakers warn on no-deal Brexit
September 22,
2019 / 11:20 PM
BERLIN (Reuters) - A month before Britain is due to quit the European
Union, the bloc’s car-makers have joined forces to warn of billions of euros in
losses in the event of a no-deal Brexit with production stoppages costing
50,000 pounds a minute in Britain alone.
Britain is scheduled to quit the EU on October 31 but businesses have
grown increasingly concerned at Prime Minister Boris Johnson’s apparent lack of
progress towards a new withdrawal deal to replace the proposals of his
predecessor Theresa May, which the British parliament rejected three times.
In a statement, groups including the European Automobile Manufacturers’
Association, the European Association of Automotive Suppliers and 17 national
groups warned of the impact of “no-deal” on an industry which employs 13.8
million people in the European Union including Britain, or 6.1% of the
workforce.
“The UK’s departure from the EU without a deal would trigger a seismic
shift in trading conditions, with billions of euros of tariffs threatening to
impact consumer choice and affordability on both sides of the Channel,” they
wrote in Monday’s statement.
“The end of barrier-free trade could bring harmful disruption to the
industry’s just-in-time operating model, with the cost of just one minute of
production stoppage in the UK alone amounting to €54,700 (£50,000).”
If the two sides revert to World Trade Organisation trading rules, the
likely consequence of a disorderly Brexit, the groups warned that the necessary
tariffs will add 5.7 billion euros to the EU-Britain car trade bill.
More
Climate change set to dominate agenda at 74th UN General Assembly
Issued on: 23/09/2019 - 02:41Modified: 23/09/2019 - 03:51
Tackling climate
peril will grab the spotlight as world leaders gather for their annual meeting
at the United Nations this week facing tensions from the Persian Gulf to
Afghanistan and increasing nationalism.
Growing fear of military action, especially in response to recent attacks on Saudi oil installations that are key to world energy supplies, hangs over this year's General Assembly gathering. That unease is exacerbated by global conflicts and crises from Syria and Yemen to Venezuela, from disputes between Israel and the Palestinians to the Pakistan-India standoff over Kashmir.
All eyes will be watching presidents Donald Trump of the United States and Hassan Rouhani of Iran, whose countries are at the forefront of escalating tensions, to see if they can reduce fears of a confrontation that could impact the Mideast and far beyond. Whether the two will even meet remains in serious doubt.
"Our fraying world needs international cooperation more than ever, but simply saying it will not make it happen," U.N. Secretary-General Antonio Guterres said. "Let's face it: We have no time to lose."
This year's
General Assembly session, which starts Tuesday and ends Sept. 30, has attracted
world leaders from 136 of the 193 U.N. member nations. That large turnout
reflects a growing global focus on addressing climate change
and the perilous state of peace and security.
Other countries will be represented by ministers and vice presidents except Afghanistan, whose leaders are in a hotly contested presidential campaign ahead of Sept. 28 elections, and North Korea, which downgraded its representation from a minister to, likely, its U.N. ambassador. Saudi Arabian Crown Prince Mohammed bin Salman and Israeli Prime Minister Benjamin Netanyahu cancelled plans to attend and are sending ministers.
Last week, Guterres repeated warnings that "tensions are boiling over." The world, he said, "is at a critical moment on several fronts the climate emergency, rising inequality, an increase in hatred and intolerance as well as an alarming number of peace and security challenges."
With so many monarchs, presidents and prime ministers at the U.N. this year, "we have a chance to advance diplomacy for peace," Guterres said. "This is the moment to cool tensions."
Whether that happens remains to be seen. Many diplomats aren't optimistic.
More
https://www.france24.com/en/20190923-united-nations-74th-general-assembly-climate-change-antonio-guterres
If the United Nations once admits that international disputes
can be settled by using force, then we will have destroyed the foundation of
the organization and our best hope of establishing a world order.
Dwight D. Eisenhower
Crooks and Scoundrels Corner.
The bent, the seriously bent, and the totally doubled
over.
No crooks today, well at least not in the usual sense. Today, Amazon
going EV, but where will the “electric” in the EV come from? How “green” is
electricity?
Electric vehicle startup Rivian gets a jolt from big Amazon.com van order
September 19, 2019
/ 6:20 PM
DETROIT (Reuters)
- Electric vehicle startup Rivian Automotive LLC got a big boost from one of
its investors on Thursday when Amazon.com announced it was ordering 100,000
electric delivery vans.
Before Rivian has even begun commercial production at its
factory in Normal, Illinois, the Amazon order rocketed it to the forefront of
electric vehicle makers. Amazon (AMZN.O) Chief Executive Jeff Bezos said in Washington that as part of the online retailer’s plan to be carbon neutral by 2040 it would order the electric vans from Rivian, with deliveries starting in 2021. The goal is to deploy all the vehicles by 2024.
Rivian, a potential rival to Silicon Valley’s Tesla Inc(TSLA.O), unveiled its electric R1T pickup and R1S SUV last November, but had piqued Amazon’s interest earlier. Bezos personally reached out to Rivian CEO R.J. Scaringe last summer to express interest in an investment, sources previously said.
Plymouth, Michigan-based Rivian, founded in 2009, has raised close to $1.9 billion from investors, including a $700 million February round led by Amazon.
The deal solidifies Rivian’s place among EV builders, said Sam Fiorani, a vice president with Auto Forecast Solutions. “It helps boost the image of the (Rivian) brand,” he said.
Rivian aspires to be the first to produce a mass market electric pickup. It intends to begin selling its
R1T by the end of 2020, a target that has not changed with the Amazon deal in place, said Rivian spokeswoman Amy Mast said.
Traditional U.S. automakers Ford Motor Co(F.N), a Rivian investor, and General Motors Co(GM.N), as well as Tesla, are pushing to develop their own electric pickups.
The Amazon vans, under the exclusive deal, will be built at Rivian’s plant, a former Mitsubishi factory in Normal, Illinois, Mast said. The first vehicles will be delivered in 2021 and 10,000 should be on the road by late 2022, she said. The vehicles will be serviced by Rivian.
Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower center of gravity.
Amazon is looking to speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of delivery personnel. Last year, Daimler AG’s(DAIGn.DE) Mercedes-Benz said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors.
More
We need to use the United Nations Security Council and believe
that preserving law and order in today's complex and turbulent world is one of
the few ways to keep international relations from sliding into chaos. The law
is still the law, and we must follow it whether we like it or not.
Vladimir Putin
Technology Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
Updates as they get reported. Is converting sunlight to usable cheap AC or DC
energy mankind’s future from the 21st century onwards?
Researchers Discover New Technique to Produce Carbon-Neutral Fuels
Written by AZoCleantech Sep 18 2019
Scientists have identified a viable starting point for
changing carbon dioxide (CO2) gas into sustainable liquid fuels.
These also include fuels meant for heavier modes of transportation that can be
very hard to electrify, say, freight trains, ships, and airplanes.Reusing CO2 in a carbon-neutral way provides an alternative method to bury the greenhouse gas under the ground. In a new research recently reported in Nature Energy, scientists from the Technical University of Denmark (DTU) and Stanford University have demonstrated that CO2 can be converted into energy-rich carbon monoxide (CO) using an Earth-abundant catalyst as well as electricity. They also showed that this method is better than other traditional techniques.
Cerium oxide is a catalyst that does not break down easily. Removing oxygen from CO2 to produce CO gas is the first step to convert CO2 into virtually any liquid fuel and other products—for example, plastics and synthetic gas.
When hydrogen is added to CO, synthetic diesel fuels and the equivalent of jet fuel are produced. The researchers are hoping to use renewable power to produce CO gas and also for further conversions. This approach is expected to result in carbon-neutral products.
We showed we can use electricity to reduce CO2 into CO with
100 percent selectivity and without producing the undesired byproduct of solid
carbon.
William Chueh,
Associate Professor, Materials Science and Engineering, Stanford University
Chueh is also one of the three senior authors of the paper.
Being aware of DTU’s study in this field, Chueh invited Christopher
Graves, associate professor in DTU’s Energy Conversion & Storage
Department, and also Theis Skafte, who was a DTU doctoral candidate at the
time, to come to Stanford University and develop the technology together.
We had been working on high-temperature CO2 electrolysis for
years, but the collaboration with Stanford was the key to this breakthrough. We
achieved something we couldn’t have separately—both fundamental understanding
and practical demonstration of a more robust material.
Theis Skafte,
Study Lead Author and Postdoctoral Researcher, DTU
Barriers to Conversion
Sustainable liquid fuels could have an advantage over the
electrification of transportation—they can utilize the current diesel and
gasoline infrastructure, such as gas stations, pipelines, and engines.
Moreover, the barriers to electrifying ships and airplanes—such as the high
weight of batteries and long-distance travel—would not pose a challenge to
energy-dense, carbon-neutral fuels.
---- Scientists involved in the latest study initially investigated how different types of devices failed and succeeded in CO2 electrolysis. Based on this understanding, the team constructed a pair of cells for CO2 conversion testing—one with traditional nickel-based catalysts and the other with cerium oxide. Although the ceria electrode continued to be stable, carbon deposits destroyed the nickel electrode, considerably reducing the lifetime of the catalyst.
“This remarkable capability of ceria has major implications for the
practical lifetime of CO2 electrolyzer devices,” stated DTU’s
Graves, a visiting scholar at Stanford at the time and a senior author of the
study. “Replacing the current nickel electrode with our new ceria electrode
in the next generation electrolyzer would improve device lifetime.”
Road to Commercialization
The cost of commercial CO production can be dramatically reduced by
eliminating early cell death. In addition, when carbon buildup is suppressed,
the new device is able to convert more amount of the CO2 to CO,
which is generally restricted to well below the 50% CO product concentration in
existing cells. This means production can also be reduced.
More
There's no such thing as the United Nations. If the U.N.
secretary building in New York lost 10 stories, it wouldn't make a bit of
difference.
John Bolton
The monthly Coppock Indicators finished August
DJIA: 26,403 +52 Down. NASDAQ: 7,963 +59 Down.
SP500: 2,926 +53 unchanged.
An inconclusive month, but
all three shows signs of weakening.
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