Baltic Dry Index. 2605 +17 Brent Crude 111.35
Spot Gold 1928
Coronavirus Cases 02/04/20 World 1,000,000
Deaths 53,100
Coronavirus Cases 21/03/22 World 471,079,831
Deaths 6,101,020
March equinox 2022: All you need to know
The March equinox – also called the vernal equinox – marks the beginning of the spring season in the Northern Hemisphere and the autumn season in the Southern Hemisphere. The March 2022 equinox will arrive on March 20 at 15:33 UTC. That’s 10:33 a.m. Central Daylight Time.
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It is day 26 of the European war diplomacy failed to stop, with 10 million either refugees across Europe or internally displaced in Ukraine itself. Why? Who gained?
The crude oil price is surging again, soon to be followed by food prices led by grains and food oils. For more on that scroll down to the Inflation/Stagflation section.
As noted above, it is Spring in the northern hemisphere and if the war doesn’t end soon, the spring planting season will in most of Ukraine have ended with very little planted.
Also surging are Covid-19 cases, as Omicron variant BA.2 aka “the stealth variant” becomes the dominant version globally. Thankfully for most, it’s not as severe as the earlier variants, plus we now have several vaccines that, while not a cure, seem to help keep down the severity level in breakthrough infections.
Below, the pause before the catastrophe?
Hong Kong’s Hang Seng pares gains as Asia stocks rise; oil jumps about 3%
SINGAPORE — Shares in Asia-Pacific were mixed in Monday morning trade, as investors reacted to the release of China’s latest benchmark lending rate. Oil prices also jumped around 3%.
Hong Kong’s Hang Seng index, which rose more than 1% in early trade, pared gains but remained in positive territory as it hovered 0.18% higher. The city’s benchmark finished more than 4% higher last week following a volatile week which swung between big gains and losses.
Trading in the Hong Kong-listed shares of China Evergrande and its property services and new energy vehicle unit was halted on Monday, according to exchange notices. No immediate reason was given for the trading halts.
Mainland Chinese stocks were also higher, with the Shanghai composite up 0.19% and the Shenzhen component advancing 0.898%.
China’s one-year loan prime rate was kept unchanged at 3.7% on Monday, largely in line with expectations from a Reuters survey.
Investors have been watching for hints of policy support from Beijing following a Chinese state media report last week that signaled support for Chinese stocks.
UBS Global Wealth Management’s Eva Lee said policy easing measures by Chinese authorities — including one to two rounds of cuts in the reserve requirement ratio for banks — are expected ahead. She added the earliest of any actions may be in early April, based on past practices.
----Elsewhere in the region, the S&P/ASX 200 in Australia sat below the flatline while South Korea’s Kospi shed 0.34%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed.
Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 3.04% to $111.21 per barrel. U.S. crude futures climbed 2.98% to $107.82 per barrel.
Markets in Japan are closed on Monday for a holiday.
More
https://www.cnbc.com/2022/03/21/asia-markets-japan-closed-china-loan-prime-rate-currencies-oil.html
In Ukraine war news, tragedy upon needless tragedy. The
complete failure of diplomacy. Why? Who obstructed Macron?
Estimated 10 million Ukrainians forced to leave homes amid Russian invasion
March 20, 2022 / 12:28 PM
March 20 (UPI) -- An estimated 10 million Ukrainians have been forced to leave their homes amid the Russian invasion, U.N. High Commissioner for Refugees Filippo Grandi said Sunday.
Grandi said in a statement that the figure includes people who have been displaced within Ukraine as well as refugees who have fled to neighboring countries.
"Among the responsibilities of those who wage war, everywhere in the world, is the suffering inflicted on civilians who are forced to flee their homes," Grandi said.
The UNHCR also said in a statement Sunday that 902 civilians had been killed and 1,459 had been injured since the start of the Russian invasion. Of those killed, 75 of them have been children.
The agency noted that most of the civilian casualties were caused by the use of explosive weapons, such as shelling and missile strikes, and that the true figures are likely to be much higher.
Data from the UNHCR shows that nearly 3.4 million people have fled Ukraine since the start of the invasion.
Most of the refugees, about 2 million, left Ukraine for Poland -- a member country of the European Union's Schengen Area, which allows people to move freely between countries. As such, it remains unclear how many refugees have since continued to other countries within Europe.
Another 306,000 refugees have fled to Hungary while 246,000 fled to Slovakia, both of which are inside the Schengen Area. Another 527,000 have fled to Romania while 362,000 have fled to Moldova.
The refugee crisis comes as Ukraine faces a humanitarian crisis caused by advancing Russian forces, which have bombed schools and other facilities sheltering civilians.
Leaders in the Luhansk region of Ukraine have reported that a Russian tank had fired on residents of an elderly care home. The claim has not been independently verified but points to the worsening humanitarian crisis in the country.
Serhii Haidai, the head of the Luhansk region, said in a post to Telegram on Sunday that 56 elderly people who lived at a nursing home in Kreminna were "cynically and deliberately" killed on March 11 when a Russian tank opened fire on them.
Haidai said that another 15 people at the care home were "abducted" and taken to another elderly care home in Svatove, a town that has been taken over by Russian forces.
---- The United Nations Children's Fund warned Saturday that children fleeing the war in Ukraine are at a high risk for human trafficking and exploitation.
More than 1.5 million children have fled Ukraine since the Russian invasion began in February as more than 500 unaccompanied children were identified crossing into Romania alone, according to UNICEF.
The humanitarian aid agency said that the true number of children who have been separated from their families is likely much higher.
Global Inflation/Stagflation Watch.
Given our Magic Money Tree central banksters and our spendthrift politicians, inflation now needs an entire section of its own.
A massive food price inflation is coming. It doesn’t get much worse than this.
What is Ukraine's impact on global agriculture?
By Todd Janzen 3/18/2022
When major disruptions happen to major food producing regions — like Ukraine — the impact too will be enormous. I recently attended the National Ag Law Center’s seminar on the international Trade Implications from the Ukraine invasion by Russia.
Russia is a major player on the international fertilizer market, according to Corey Rosenbusch, president of Fertilizer Institute. Three of the largest fertilizer manufactures in the world are Russian-based, Uralkali, Eurochem, and PhosAgro. Each of these is headed by a oligarch that has been sanctioned by western governments. Even if the Russians can continue to ship fertilizers out of the country, getting payment is extremely difficult due to banking sanctions. Here is how Russia compares to the US and other countries when it comes to fertilizer production:
Dr. William H. Meyers, Ag Economist from Missouri University, explained that Ukraine and Russia are enormous grain exporters. This is well known today, but it is interesting to see just how much Ukraine’s exports have increased in the last few years.
Ukraine’s production impacts in 2022 are going to be felt around the world. For some countries, the prices for food will be significantly impacted. For others, there may actually be food shortages. Here was a graph shared by Dr. Meyers explaining the potential impacts to other countries.
Professor Mariia Bogonos, Kyiv School of Economics, explained that the impact inside Ukraine is already severe for farmers and consumers. If the Russian invasion moved no further than it has already, there are many parts of Ukraine that will not be able to plant this year’s crop or harvest existing winter wheat, reducing production by about one-third. Since much of Ukraine’s fertilizer comes from Belarus, it seems highly unlikely there will be enough fertilizer for crop needs. If the Black Sea ports remain closed to exporting, much of the exports could still leave the country by truck or rail, but costs of shipping go up significantly. Diesel fuel could also be a problem, but the Ukrainian government is working to fix this concern.
More
https://www.agriculture.com/news/business/ukraines-impact-on-global-agriculture
RUSSIAN TARGETING FARM
EQUIPMENT IN UKRAINE, RESTRICTING PLANTING OPERATIONS
Mar. 18, 2022
Agri-Pulse reports:
Ukraine is doing its best to keep its farms
operational, but the Russian invasion is making that difficult, a Ukrainian
representative has told the World Trade Organization's Agriculture Committee.
The Russian military is making it even harder by
targeting Ukrainian farm equipment and machinery, the Ukrainian representative
said. Geneva trade officials recounted Ukrainian's discussions with the
committee this week.
According to them, Ukrainian officials said
"its farmers are doing their best not to miss the growing season while
putting their lives at risk. However, should the current circumstances not
improve, Ukraine would be forced to restrict exports to ensure national food
security."
You should also know: The House on Thursday
voted 424-8 to suspend normal trade relations with Russia and Belarus, allowing
President Biden to raise tariffs on Russian goods. The bill also requires the
U.S. Trade Representative to push for the suspension of Russian involvement in
the WTO.
https://www.agrimarketing.com/s/140252
UPDATE 2-Canada's CP Rail shuts down railroad, workers strike
3/20/2022
March 20 (Reuters) - Canadian Pacific Railway (CP) halted operations and locked out workers over a labor dispute early on Sunday, with each side blaming the other for a halt that will likely disrupt shipment of key commodities at a time of soaring prices.
"We are very disappointed with this turn of events," said Teamsters Canada Rail Conference spokesperson Dave Fulton. The union said in a statement http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reute... that it had begun to strike across the country in the dispute that it says affects 3,000 engineers, conductors and yard workers.
Canada's second-biggest railroad operator accused the union of misrepresenting the company's position, saying in a statement http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reute... that the Teamsters were "well aware of the damage this reckless action will cause to the Canadian supply chain."
Minister of Labour Seamus O'Regan Jr said CP and Teamsters were still at the table with federal mediators.
"We are monitoring the situation closely and expect the parties to keep working until they reach an agreement," he said in a tweet https://twitter.com/SeamusORegan/status/1505394126090555394 just after midnight.
Canada, the largest country by area after Russia, depends heavily on rail to move commodities and manufactured goods to port. CP's network runs across much of southern Canada and extends as far south as Kansas City in the United States.
The lockout is the latest blow to Canada's battered supply chain, which last year weathered floods in British Columbia that washed out track and suspended access to Canada's biggest port. CP has said a stoppage would disrupt the movement of grain, potash and coal.
CP had notified the union on Wednesday that it would lock out employees on Sunday, barring a breakthrough in talks on a deal covering pensions, pay and benefits.
It said the key bargaining issue is the union's request for higher pension caps. Chief Financial Officer Nadeem Velani told a New York investor conference on Tuesday that the railway was unwilling to accept that demand.
Canada's Nutrien said this week it may need to reduce potash production at its mines in the province of Saskatchewan if the shutdown lasts longer than a few days.
The country's last major railway labor disruption was an eight-day Canadian National Railway Co strike in 2019. But in the past 12 years, there have been 12 stoppages due to poor weather, blockades or labor issues, according to the Western Canadian Wheat Growers Association.
The West Coast Should Brace for Spring Megadrought, NOAA Warns
More than half of the United States is likely to struggle with limited water supply and increased risk of wildfires in the coming months
March 18, 2022 2:20 p.m.
The record-shattering megadrought gripping the Western United States will likely only get worse this spring, according to the National Oceanic and Atmospheric Administration’s (NOAA) seasonal outlook released yesterday. For the second consecutive year, NOAA forecasters are predicting "prolonged, persistent drought in the West where below-average precipitation is most likely," the agency stated.
The West has been locked in a drought for years, and important reservoirs have been drained to historic lows to support thirsty communities and agriculture. The West’s upcoming hot, dry spring also sets the stage for intensifying wildfires, according to Seth Borenstein for the Associated Press.
With little rainfall and soaring temperatures predicted for most of the West, "it's very likely, or makes sense, that areas will certainly some of the drought areas will become worse," Jon Gottschalck, a chief at NOAA's Climate Prediction Center, said at a news conference, reports Rachel Ramirez for CNN.
Over the next three months, most of the country is likely to see above-average temperatures, with the greatest chances for unusually warm weather in the southern Rockies and southern Plains. Some areas of the U.S. may experience cooler-than-average temperatures this spring, including parts of Alaska and the Pacific Northwest.
“Severe to exceptional drought has persisted in some areas of the West since the summer of 2020 and drought has expanded to the southern Plains and Lower Mississippi Valley,” said Jon Gottschalck of NOAA’s Climate Prediction Center in a statement. “With nearly 60% of the continental U.S. experiencing minor to exceptional drought conditions, this is the largest drought coverage we’ve seen in the U.S. since 2013."
The more than 20-year megadrought hitting the West has made the region the driest it’s been in 1,200 years. The struggle for sufficient water has drained important water reserves like Lake Powell, which is fed by the Colorado River watershed. Last week, the lake hit its lowest water level recorded in 60 years, which could jeopardize hydropower generation that millions in the West rely on.
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Covid-19 Corner
This section will continue until it becomes unneeded.
Italy, France COVID-19 cases surge amid new sub-variant
March 20, 2022 / 2:19 PM / Updated at 12:46 AM
March 20 (UPI) -- COVID-19 cases increased only 4% worldwide in the past week but some nations in Europe, including Italy with a 43% rise and France at 36%, have experienced surges as a new sub-variant travels around the world and countries relax restrictions.
In all, a total of 470,788,980 cases have been reported worldwide, including 11,773,847 in the past week, in tracking by Worldometers.info on Sunday. And deaths rose 35,583 in a 19% weekly decline for a total of 6,100,558.
Of those cases, 47.9% have occurred in three nations -- South Korea, Germany and Vietnam -- all adding at least 1 million. Those countries account for only 3.9% of the population.
South Korea led the world last week with an increase of 2,832,661 cases, representing a 42% gain, including a daily record 621,328 Thursday after only 630,748 through the end of last year. Sunday's increase was 334,708. And deaths rose 327 with the record 429 Thursday and fatalities under 100 late December.
---- Coronavirus continues to surge elsewhere in Asia with the continent reporting an 8% weekly rise with Europe second at 5%. North America dropped 21%, South America 17%, Africa 34% but Oceania went up 15%.
Mainland China, where the outbreak was first announced in December 2019, reported 1,737 cases Sunday after 3,602 March 15, the most since mid-February 2020. And the nation on Saturday reported the first two deaths since a year ago January for a total of 4,638 in 88th, behind Sudan with 4,888.
With a "zero tolerance" for cases, 37 million of the 1.5 billion population are under lockdown. State media says 95% of the cases are mild.
And Hong Kong reported 14,149 cases Sunday for a total of 1,047,690 with the record 56,827 on March 10, and 246 fatalities for a cumulative 5,896, including a record 294 March 11. Until this year, Hong Kong, an island of 7.6 million people that has separate governing and economic systems from Communist China, had reported only 163 deaths and 243,612 cases. In 2020, it was 148 deaths and 8,847 cases.
And in another Asian nation, Vietnam with 98.8 million people, cases dropped 5% but were third in the world in the past week at 1,246,601, including a record 182,296 March 11. Sundays infection increase was 141,151.
Germany, with 83.2 million residents, added 1,565,547 cases at a 20% rise for total 18,683,287 in sixth, passing Russia in the past week. Germany set a daily record with 300,270 cases March 10. The nation reported 168,187 Saturday and 90,525 on Sunday. The nation first experienced a spike from Omicron in mid January and the fatality record was 1,249 on Dec. 29, 2020, but an average of 200 each day last week. It reported 24 deaths on Sunday.
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Hong Kong to ease strict COVID measures from April, lifts flight ban
March 21, 2022 5:36 AM GMT
HONG KONG, March 21 (Reuters) - Hong Kong plans to relax some anti-COVID-19 measures next month, lifting a ban on flights from nine countries, reducing quarantine for arrivals from abroad and reopening schools.
The moves, announced on Monday by Chief Executive Carrie Lam, come after a backlash from businesses and residents who see the rest of the world shifting to "living with the virus".
Residents in the Chinese ruled territory have become increasingly frustrated with the stringent measures, many of which have been in place for over two years.
A ban on flights from Australia, Britain, Canada, France, India, Nepal, Pakistan, Philippines and the United States would be lifted from April 1.
"The flight ban is no longer timely and appropriate...it will bring huge disturbances to Hong Kong people who are stuck in these nine countries if we continue the ban," Lam told a news briefing.
Hotel quarantine for arrivals could be cut to seven days from 14 if residents tested negative, Lam said. She had previously said measures would be in place until April 20.
Schools would resume face to face classes from April 19, after the Easter holidays while public venues including sports facilities would also reopen from April 21, she said.
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New COVID variant is spreading across the US. Here's what you need to know about BA.2
Fri, March 18, 2022, 6:25 PM
A new COVID variant, first detected two months ago, is making its way across the U.S. and spreading more quickly in the Northeast and West, new data released this week shows.
The BA.2 variant appears to be on its way to becoming the dominant COVID strain, having roughly doubled each week for the last month, according to the U.S. Centers for Disease Control and Prevention.
BA.2 is considered by the World Health Organization as a "sublineage" of the highly transmissible omicron variant. It's a different version of omicron than BA.1, which was responsible for the surge that hit the Northeast late last year.
It has a different genetic sequence from BA.1 and was first dubbed the "stealth variant" because it wasn't as easy to detect.
Around the world, infections are largely due to the BA.2 version of omicron. In the U.S., BA.2 accounted for about a quarter (23.1%) of the cases for the week ending March 12, the CDC says. That's up from 14.2% the week ending March 5.
How fast is BA.2 spreading in the US?
BA.2 made up 39% of cases in New Jersey and New York, the week ending March 12, up from 25.4% the previous week, the CDC says. (Puerto Rico and the Virgin Islands are also included by the CDC in that region's COVID case breakdown.)
In the Northeast (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont), BA.2 accounted for 38.6% of cases, up from 24% the previous week, according to the CDC.
In the West, which includes Arizona, California and Nevada, BA.2 accounts for 27.7% of cases, up from 17.1% the previous week. In the upper West, including Alaska, Idaho, Oregon and Washington, BA.2 made up 26.2% of cases, up from 16%, the CDC says.
More
https://www.yahoo.com/news/covid-variant-spreading-across-us-182505445.html
Next, some vaccine links kindly sent along from a LIR reader in Canada.
NY Times Coronavirus Vaccine Tracker. https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html
Regulatory Focus COVID-19 vaccine tracker. https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker
Some other useful Covid links.
Johns Hopkins Coronavirus resource centre
https://coronavirus.jhu.edu/map.html
Rt Covid-19
Centers for Disease Control Coronavirus
https://www.cdc.gov/coronavirus/2019-ncov/index.html
The Spectator Covid-19 data tracker (UK)
https://data.spectator.co.uk/city/national
Technology Update.
With events happening fast in the development of solar power and graphene, I’ve added this section. Updates as they get reported.
Call me sceptical, but HM’s G manages to waste billions here on Earth so why not waste billions more in space, I suppose.
A solar power station in space? How it would work, and the benefits it could bring
March 18, 2022
The UK government is reportedly considering a £16 billion proposal to build a solar power station in space.
Yes, you read that right. Space-based solar power is one of the technologies to feature in the government's Net Zero Innovation Portfolio. It has been identified as a potential solution, alongside others, to enable the UK to achieve net zero by 2050.
But how would a solar power station in space work? What are the advantages and drawbacks to this technology?
Space-based solar power involves collecting solar energy in space and transferring it to Earth. While the idea itself is not new, recent technological advances have made this prospect more achievable.
The space-based solar power system involves a solar power satellite—an enormous spacecraft equipped with solar panels. These panels generate electricity, which is then wirelessly transmitted to Earth through high-frequency radio waves. A ground antenna, called a rectenna, is used to convert the radio waves into electricity, which is then delivered to the power grid.
A space-based solar power station in orbit is illuminated by the Sun 24 hours a day and could therefore generate electricity continuously. This represents an advantage over terrestrial solar power systems (systems on Earth), which can produce electricity only during the day and depend on the weather.
With global energy demand projected to increase by nearly 50% by 2050, space-based solar power could be key to helping meet the growing demand on the world's energy sector and tackling global temperature rise.
Some challenges
A space-based solar power station is based on a modular design, where a large number of solar modules are assembled by robots in orbit. Transporting all these elements into space is difficult, costly, and will take a toll on the environment.
The weight of solar panels was identified as an early challenge. But this has been addressed through the development of ultra-light solar cells (a solar panel comprises smaller solar cells).
Space-based solar power is deemed to be technically feasible primarily because of advances in key technologies, including lightweight solar cells, wireless power transmission and space robotics.
More
https://phys.org/news/2022-03-solar-power-station-space-benefits.html
Well, fancy giving money to the Government! Might as well have put it down the drain. Fancy giving money to the Government! Nobody will see the stuff again. Well, they've no idea what money's for- Ten to one they'll start another war. I've heard a lot of silly things, but, Lor'! Fancy giving money to the Government!
A. P. Herbert.
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