Baltic
Dry Index. 1427 +22 Brent Crude 75.40
Spot Gold 2660 US 2 Year Yield 4.27 +0.08
The demand for money is regulated entirely by its value, and its value by its quantity.
David Ricardo.
While the US stock casinos cashed in on Trump World Tariffs, in the Rest of the World casinos rising dismay and fear.
US import tariffs will hurt many countries exports to the USA, with most if not all, imposing retaliatory tariffs on US exports and companies. A repeat of the 1930s global slump now looms for 2025-2028.
Almost as bad, US import tariffs will generate increased inflation in the US economy since there’ no free lunch. Most, if not all, of the tariff cost will get passed on to the US consumer, one way or another. Look away from that flattening US yield curve now.
Up first, the casinos reaction in Asia.
Asia-Pacific markets mixed in choppy trading after
Trump victory
Updated Thu, Nov 7 2024 11:15 PM EST
Asia-Pacific markets were mixed Thursday
after former President Donald
Trump won the White House, defeating Vice President Kamala Harris in
the 2024 presidential election.
NBC
News projects that Trump will win at least 291 Electoral College
votes, including key swing
states of Pennsylvania, North Carolina and Georgia.
Japan’s Nikkei 225 reversed gains to
lose 0.25%, but the broad based Topix was up 0.95%.
The yen weakened to a intraday
high of 154.7 against the dollar on Wednesday, its weakest level since July 30,
but recovered marginally on Tuesday to 154.41.
South Korea’s Kospi was 0.19% lower, with
the small cap Kosdaq also down 1.45%.
Hong Kong’s Hang Seng index initially
fell, but reversed course to climb 0.9%, while mainland China’s CSI 300 also
went into positive territory with a 0.5% gain.
Hong Kong and mainland Chinese stocks
mainly fell Wednesday as Trump’s victory looked increasingly certain.
In China, state media reported that the
National People’s Congress standing committee, the country’s parliament, had
reviewed the plan to raise local government debt for another day, after
initially discussing the plan on Monday.
Local authorities in China have
historically been responsible for much of public services spending, but
have struggled
financially as revenue from land sales to developers has dropped.
Australia’s S&P/ASX 200 traded 0.41%
lower.
Overnight in the U.S., all three major
benchmarks hit record highs following Trump’s victory.
The Dow Jones Industrial Average surged
1,508.05 points, or 3.57%, to a record close of 43,729.93. The last time the
index saw a gain of more than 1,000 points in a single day was in November
2022.
The S&P 500 also hit an
all-time high, popping 2.53% to 5,929.04. The Nasdaq Composite climbed
2.95% to a record 18,983.47.
Asia markets live: Nikkei record high, Trump election
Stock futures are little changed after major
post-election rally as focus shifts to Fed: Live updates
Updated Thu, Nov 7 2024 7:32 PM EST
Stock futures are near flat Wednesday
night after a huge market rally following Donald Trump’s decisive victory in
the presidential election. Traders are awaiting the Federal Reserve interest
rate decision Thursday afternoon.
Futures tied to the Dow Jones Industrial Average slipped
12 points, or less than 0.1%. S&P
500 futures and Nasdaq
100 futures both traded marginally below flat.
Trump’s triumph in the race for the White
House spurred a surge
in stocks that sent the blue-chip Dow soaring by more than
1,500 points. The Dow, S&P
500 and Nasdaq
Composite all notched new all-time highs in the session, while the
small cap-focused Russell 2000 jumped
more than 5%.
Bitcoin, the U.S. dollar and bank stocks
all jumped as part of Wednesday’s post-election advance. On the other
hand, several
international funds and solar
stocks struggled as investors expected the President-elect’s policies
to hurt these names.
“The results are in and the financial
markets can breathe a little easier without concern over a prolonged election
process,” said Scott Helfstein, head of investment strategy at Global X ETFs.
“Investors should still be cautious about over- and underreaction to
geopolitical news. These events can typically cause large swings in asset
prices, but fundamentals will win out over time.”
Market participants on Thursday will
closely monitor the Federal Reserve’s interest
rate decision and Chair Jerome Powell’s subsequent press conference.
Fed funds futures are currently pricing in a 100% likelihood that the central
bank lowers the borrowing cost at this gathering, according to CME Group’s Fed Watch tool.
That would mark a second straight cut
after the Fed’s decrease in September, which was its first since 2020. Before
the afternoon announcement, traders will follow economic data on jobless claims
and wholesale inventories.
Quarterly earnings are on deck for Moderna and Warner Bros. Discovery before
the bell Thursday. Results for Block, Pinterest and Rivian are due in the
afternoon.
Stock market today: Live updates
Trump win and threat of more tariffs raises
expectations for more China stimulus
Published Wed, Nov 6 2024 9:45 PM EST
BEIJING — Donald Trump’s 2024 presidential
win has raised the bar for China’s fiscal stimulus plans, expected Friday.
On the campaign trial, Trump threatened to
impose additional tariffs
of 60% or more on Chinese goods sold to the U.S. Increased duties
of at least 10% under Trump’s first term as president did not dent
America’s position as China’s largest trading partner.
But new tariffs — potentially on a larger
scale — would come at a pivotal time for China. The country is relying more on
exports for growth as it battles with a real estate slump and tepid consumer
spending.
If Trump raises tariffs to 60%, that could
reduce China’s exports by $200 billion, causing a 1 percentage point drag on
GDP, Zhu Baoliang, a former chief economist at China’s economic planning
agency, said at a Citigroup conference.
Since late September, Chinese authorities
have ramped up efforts to support slowing economic growth. The standing
committee of the National People’s Congress — the country’s parliament — is
expected to approve additional fiscal stimulus at its meeting this week, which
wraps up Friday.
“In response to potential ‘Trump shocks,’
the Chinese government is likely to introduce greater stimulus measures,” said
Yue Su, principal economist at the Economist Intelligence Unit. “The overlap of
the NPC meeting with the U.S. election outcome suggests the government is
prepared to take swift action.”
She expects a stimulus package of more
than 10 trillion yuan ($1.39 billion), with about 6 trillion yuan going towards
local government debt swaps and bank recapitalization. More than 4 trillion
yuan will likely go towards local government special bonds for supporting real
estate, Su said. She did not specify over what time period.
Stock market divergence
Mainland China and Hong Kong stocks
fell Wednesday as it became clear that Trump would win the election.
U.S. stocks then soared with the three major indexes hitting record
highs. In Thursday morning trading, Chinese stocks tried to hold mild
gains.
That divergence in stock performance
indicates China’s stimulus “will be slightly bigger than the baseline
scenario,” said Liqian Ren, who leads WisdomTree’s quantitative investment
capabilities. She estimates Beijing will add about 2 trillion yuan to 3 trillion
yuan a year in support.
Ren doesn’t expect significantly larger
support due to uncertainties around how Trump might act. She pointed out that
tariffs hurt both countries, but restrictions on tech and investment have a
greater impact on China.
More
Trump win and threat of more tariffs raises expectations for more China stimulus
In
other news. The EUSSR in shock and horror and panic.
Europe
praises Trump’s victory amid wider fears of an impending economic nightmare
Published
Wed, Nov 6 2024 7:39 AM EST Updated Wed, Nov 6 2024 8:41 AM EST
European
officials have been quick to congratulate Donald Trump after he defeated his
Democratic rival Kamala Harris to return to the White House, despite a stark
realization that renewed economic warfare could be just around the corner.
European
diplomats and their respective leaders have been
preparing for the eventuality of a Trump victory for more than 12 months,
placing a growing focus on policies that could protect the European economy
from potential trade disputes.
Some
European officials woke up to election results on Wednesday “not wanting to
believe” them, several sources told CNBC.
“I
am seeing it, [and] not wanting to believe,” said one EU official, who did not
want to be named due to the sensitive nature of the transatlantic relationship.
“But I am not as shocked as last time.”
Many
European leaders did not enjoy Trump’s style of confrontational leadership
during his first presidency, and there were several moments of tension with the
former White House leader. As a result, many in Brussels celebrated the victory
of Joe Biden in 2020, hoping for a better engagement.
A
second EU source, who also did not want to be named because of the sensitivity
of the relationship, said: “It is not great, again.”
But
the source echoed the feelings of the previous official, acknowledging, “At
least, I am not as surprised [as in 2016].”
EU
leaders to meet Thursday
European
Commission President Ursula von der Leyen, French President Emmanuel Macron,
Spanish Prime Minister Pedro Sanchez, Italian Prime Minister Giorgia Meloni and
Hungarian Prime Minister Viktor Orban were among the
first EU leaders to offer their congratulations to Trump on Wednesday
morning.
Concerns
regarding Trump are not wholly shared across the European continent. Hungary’s
Prime Minister Viktor Orban, who has in the past spoken of his admiration for
Trump, has previously reportedly said that he would open a bottle
of champagne if Trump were elected.
EU
leaders are scheduled to meet for a regular meeting Thursday and Friday in the
Hungarian capital of Budapest, which will provide them with an opportunity to
discuss their future plans for the transatlantic relationship.
Trump
has threatened to impose an additional 10% in tariffs on European nations,
while also saying that the European Union would have to “pay a big price” for
not buying enough American goods.
Trade
with the United States is critical for European nations. The EU and the U.S.
have the largest
bilateral trade and investment relationship in the world, which reached an
all-time high of 1.2 trillion euros ($1.29 trillion) in 2021, according to data
from the European Commission, the executive arm of the EU.
Any
additional tariffs could further pressure the already moribund economic growth
levels across the EU.
More
EU reaction to US
election 2024
Germany’s
ruling coalition collapses as Chancellor Scholz fires finance minister
Published
Wed, Nov 6 2024 3:23 PM EST
Chancellor
Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian
Lindner, bringing an end to Germany’s ruling coalition after months of
political wrangling and raising the possibility of snap elections in March.
The
three-year-old union between Scholz’s Social Democratic Party (SPD), the Greens
and Lindner’s Free Democratic Party (FDP) had been on shaky ground for some
time, with differing budget and economic policy positions causing tensions and
clashes.
Speaking
at a press conference late Wednesday, Scholz launched a tirade against Lindner,
saying he was not concerned about serving for the common good and he was
dismissed to prevent harm to the country. Scholz said he would call for a vote
of no confidence on Jan. 15 in parliament, raising the possibility of elections
earlier than scheduled in March.
“Anyone
who joins a government must act responsibly and reliably, they cannot run for
cover when things get difficult,” Scholz said at the press conference,
according to a Reuters translation. “They must be willing to make compromises
in the interests of all citizens ... But that is precisely not Christian
Lindner’s focus right now, he is focused on his own clientele.”
Both
the FDP and the Greens confirmed late Wednesday that Lindner’s departure would
mean an end to Berlin’s fractious coalition, although the latter said it would
remain in office.
Lindner
paper
The
situation had been coming to a head
in recent weeks,
with speculation about a potential collapse ramping up earlier in the week.
That came after a series of moves from the three parties, including a paper by
Lindner of the FDP that outlined his vision to revive the German economy —
crucially, however, by arguing against fundamental positions of the SPD and
Green party.
The
parties had also been struggling to agree upon a 2025 budget, which still had a
funding gap of several billions of euros and was still being negotiated. The
deadline for the budget was set for later this month.
Debt
brake
Lindner
said at his own press conference Wednesday that his party had made suggestions
for an economic shift, which had been rejected by Scholz. He called Scholz’s
counter-suggestions unambitious.
“The
Free Democrats are still ready to carry responsibility for this country and we
will fight to also do this in a different government next year,” Lindner told
reports, according to a CNBC translation.
Lindner
said that Scholz had demanded a pause to Germany’s debt brake, which he could
not accept. Enacted in 2009, Germany’s debt brake limits how much debt the
government can take on, and dictates the maximum size of the federal
government’s structural budget deficit. The rules say it can be no bigger than
0.35 percent of Germany’s annual GDP.
German Chancellor
Olaf Scholz fires Finance Minister Christian Lindner
BMW
profits plunge 80pc as Chinese demand crashes
6
November 2024
BMW
has warned of “extraordinary challenges” as it became the latest carmaker to
post a large drop in China sales.
The
German automotive giant on Wednesday revealed profits from July to September
had plunged 84pc compared to a year earlier, to €476m (£397m).
It
followed a 13pc drop in vehicle deliveries, including a 30pc slump
in the Chinese market,
which it relies on for one third of all sales.
In
another blow, the company has also been hit by problems with a braking system
that forced it to recall 1.5m cars.
The
results come after similarly bleak reports from other top manufacturers such as
Volkswagen and Mercedes-Benz, as Chinese consumers spurn Western brands for
cheaper, high-tech, domestically made alternatives.
Oliver
Zipse, BMW’s chief executive, said: “This past quarter, we faced a series of
extraordinary challenges.”
Like
other German carmakers, BMW has come to heavily rely on the Chinese market.
However, it has faced turbulence in China as the wide adoption of electric cars
highlights a gulf between local and domestic brands.
Chinese
manufacturers such as BYD have brought out a wide range of fully electric
vehicles, including many that sell for under £10,000, with companies also
competing against each other to offer various high-tech features.
This
has piled pressure on European and Japanese carmakers, which are widely viewed
as being behind in electric car development. They face additional challenges at
home, where Chinese manufacturers are also stepping up sales of low-cost cars.
BMW’s
revenues fell by nearly 16pc overall to €32.4bn in the quarter, with the
company posting a drop in sales in every region.
More
BMW profits plunge
80pc as Chinese demand crashes
China
October exports record highest jump in 19 months, imports decline more than
expected
Published
Wed, Nov 6 2024 10:34 PM EST
China’s
exports in October rose at their fastest pace in 19 months, sharply beating
analysts’ estimates, according to data from the country’s customs agency on Thursday.
Exports
rose by 12.7% in October from a year ago in U.S. dollar terms, their highest
jump since March 2023, according to LSEG data. That compares with 2.4% growth
in September, 8.7% in August and 7% in July.
Analysts
had pegged exports growth at 5.2% year on year in October, according to a
Reuters poll.
Imports,
however, fell by a more-than-expected 2.3% in October. That compares with a
modest growth of 0.3% in September and 0.5% in August. Analysts had forecast a
decline of 1.5% in October exports, according to a Reuters poll.
“The
better-than-expected export figures can be attributed to delayed shipments in
October due to improved weather conditions, ongoing price discounts to capture
market share, and the traditional peak season leading up to Christmas,” Bruce
Pang, chief economist of Greater China at JLL told CNBC.
The
world’s second-largest economy has been grappling with weakening domestic
consumption and a protracted property crisis, with exports being a rare bright
spot.
Chinese
officials has unveiled a flurry
of stimulus measures since late September, including interest rate
cuts, lower cash reserve requirements at banks and loosened property purchase
rules, in a bid to revive the ailing economy.
In
October, China’s factory activity expanded for
the first time since April, with the official purchasing managers’ index
coming in at 50.1, beating September’s 49.8 and analysts’ estimate of 49.9.
China’s parliament
standing committee meeting is underway, with expectations that it will
announce details about further
fiscal stimulus when it concludes on Friday.
China
October exports record highest jump in 19 months, imports decline
Global Inflation/Stagflation/Recession Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
Trump
vow on new trade war sends shockwaves through supply chain, importers scramble
to move up orders
Published
Wed, Nov 6 2024 11:57 AM EST
Retailers
and manufacturing companies have been increasingly calling logistics partners,
both in the days leading up to presidential election and on Election Night,
about “front loading” shipments ahead of any changes in tariff policy to be
pursued by President-elect
Donald Trump,
who campaigned on an aggressive expansion of existing U.S. tariffs on
cross-border trade.
Trump has vowed across-the-board
tariffs of 10% to 20% on all imports arriving into the United States and a
60%-100% tariff on Chinese imports.
“This
is 2018 all over again,” said Paul Brashier, vice president of global supply
chain for ITS Logistics, referring to the year during which Trump first imposed
sweeping tariffs in his first term. “The calls expand beyond shippers who have
Chinese imports. The global tariff threat is fueling calls for frontloading
from all around the globe,” he said.
Brashier
expects Trump’s election to result in increased container demand and vessel
bookings, which will then fuel freight rates, trucking and warehouse rates.
Trucking stocks, such as J.B. Hunt
Transport Services, Knight-Swift, Schneider National, and XPO, were in rally mode on Wednesday, as were
freight rails including Norfolk Southern and CSX.
Among
many major market moves
on Wednesday as
traders and investors digested the Republican wins, the U.S. dollar surged
against key international currencies tied to trade on Wednesday, such as
the euro and Mexican peso
Ocean
shipping stocks hit on market fears of trade decline
The
knee-jerk reaction in shares of ocean carriers, was negative, with a big slump
led by Maersk, even though
consumer demand remains strong in the U.S. and frontloading of imports would
raise ocean rates, at least in the short-term. Shipping analysts described the
reaction in Maersk and its peers as excessive. But they added it is based on
the belief is tariffs increase the costs of trade, in turn lowering demand and
volumes. They noted that did not occur in 2018 and 2019, with volumes growing
an average of 12% during those two years. “It speaks to the uncertainty of the
situation, rather than the imminent doom,” wrote analyst Ben Slupecki of
Morningstar in an email.
Lars
Jensen, CEO of Vespucci Maritime, said in the short-term there will be a surge
in import demand for containerized goods as U.S. companies stock up ahead of
any new tariffs. “Especially related to goods which are not time sensitive,
said Jensen. “This will create upward pressure on freight rates in the coming
months.”
According
to spot ocean freight rate data tracked by ocean and air freight intelligence
platform, Xeneta, the frontloading of freight during the Trump trade war on
Chinese imports in 2018 fueled a rise in ocean container shipping freight rates
by more than 70%.
Peter
Sand, chief shipping analyst at Xeneta, tells CNBC that shippers will be
fearing more of the same with this latest tariff threat. “Shipping is a global
industry feeding on international trade, so another Trump presidency is a step
in the wrong direction,” said Sand. “The knee-jerk reaction from U.S. shippers
will be to frontload imports before Trump is able to impose his new tariffs.”
More
Trump vow on new
trade war sends shockwaves through supply chain
Stellantis
to lay off 1,100 workers at Ohio Jeep plant
November
6, 2024
DETROIT
(Reuters) -Stellantis said on Wednesday it is laying off about 1,100 employees
at a Jeep Gladiator plant in Toledo, Ohio, as it works to improve efficiency
and reduce inventory across its North American operations.
The
automaker recently shook up its senior management in an attempt to turn around
its slipping sales in the region, and has also cut its salaried and hourly
workforce over the past year.
"These
are difficult actions to take, but they are necessary to enable the company to
regain its competitive edge and eventually return production to prior
levels," Stellantis said in a statement.
CEO
Carlos Tavares' decision to slash manufacturing workers, such as those in
Toledo, has angered the United Auto Workers union, which represents these
employees.
UAW
President Shawn Fain has threatened a nationwide walkout at Stellantis
factories just a year after workers struck for six weeks at the automaker and
its Detroit competitors.
Stellantis to lay
off 1,100 workers at Ohio Jeep plant
Huge
delivery firm cuts 300 jobs ahead of Christmas after big sales drop
6
November 2024
Just
Eat is making 300 staff redundant across its global business ahead
of Christmas this
year.
According
to the Daily Mail, the job cuts are equivalent to 2% of its
workforce. The cuts were confirmed today after results last month revealed
lower-than-expected trading from the US. Job losses were seen in 11 of its
regions worldwide across multiple areas including service, products, technology, human
resources, sales, marketing and logistics.
The food
delivery service said the worker reduction was a "tough"
decision but a 'necessary step' to ensure it could "fuel sustainable
growth and enhance operational efficiencies." The move to cut staff came
after the delivery firm reviewed its cost base and operations, which is
reportedly part of its growth strategy. It is understood that those affected by
the redundancies will receive "enhanced severance packages" and
access to career transition services and wellbeing resources.
A
Just Eat spokesperson told MailOnline: "Following an extensive business
review, we have made the difficult decision to reduce the size of our global
workforce. While decisions like these are tough, it is a necessary step we've
needed to take to ensure we have the right organisational structure in place to
fuel sustainable growth and enhance operational efficiencies.
"Altogether,
this will impact approximately 300 employees across multiple teams and markets
globally, accounting for around 2% of the Just Eat Takeaway.com workforce. We
will provide full support to the impacted team members, and we are incredibly grateful
for the contributions they have made to the business."
In
its recent results published last month, Just Eat saw a 3% drop in its global
sales in the three months to September. Business in the UK and Ireland did rise
by 6%, but the 12% drop in US sales dragged down the overall group result. Just
Eat cut 1,870 in the UK in March 2023 after sales dropped. This included 170
operational roles. At the same time, the firm also moved from employing its own
couriers to contractors instead, which resulted in the other 1,700 losses.
Huge
delivery firm cuts 300 jobs ahead of Christmas after big sales drop
Covid-19 Corner
This section will continue until it becomes unneeded.
An
Idaho health department isn’t allowed to give Covid-19 vaccines anymore.
Experts say it’s a first
Associated Press Sun 3 November 2024 at 8:45 pm GMT
A
regional public health department in Idaho is no longer providing Covid-19
vaccines to
residents in six counties after a narrow decision by its board.
Southwest
District Health appears to be the first in the nation to be restricted from
giving Covid-19 vaccines. Vaccinations are an essential function of a public
health department.
While
policymakers in Texas banned health departments from promoting
Covid
vaccines and Florida’s surgeon
general bucked
medical consensus to recommend against the vaccine, governmental bodies across
the country haven’t
blocked the vaccines outright.
“I’m
not aware of anything else like this,” said Adriane Casalotti, chief of
government and public affairs for the National Association of County and City
Health Officials. She said health departments have stopped offering the vaccine
because of cost or low demand, but not based on “a judgment of the medical
product itself.”
The
six-county district along the Idaho-Oregon border includes three counties in
the Boise metropolitan area. Demand for Covid vaccines in
the health district has declined — with 1,601 given in 2021 to 64 so far in
2024. The same is true for other vaccines: Idaho has the
highest childhood vaccination exemption rate in the nation, and last year,
the Southwest
District Health Department rushed to contain a rare measles outbreak
that sickened 10.
On
October 22, the health department’s board voted 4-3 in favor of the ban —
despite Southwest’s medical director testifying to the vaccine’s necessity.
“Our
request of the board is that we would be able to carry and offer those
(vaccines), recognizing that we always have these discussions of risks and
benefits,” Dr. Perry Jansen said at the
meeting. “This
is not a blind, everybody-gets-a-shot approach. This is a thoughtful approach.”
Opposite
Jansen’s plea were more than 290 public comments, many of which called for an
end to vaccine mandates or taxpayer funding of the vaccines, neither of which
are happening in the district. At the meeting, many people who spoke are
nationally known for making the rounds to testify against Covid vaccines,
including Dr.
Peter McCullough,
a Texas cardiologist who sells “contagion emergency kits” that include ivermectin
and hydroxychloroquine — drugs that have not
been approved to treat Covid-19 and can have dangerous side
effects.
More
An Idaho health department isn’t allowed to give Covid-19 vaccines anymore. Experts say it’s a first
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
Solid-state
batteries may yet catch up — but silicon anodes are winning the race to power
EVs
5
November 2024
Silicon
anodes appear to be leading the way in the race to commercialize
next-generation battery technologies for electric vehicles.
The
buzz around silicon-based anodes, which promise improved power and faster
charging capabilities for EVs, has been growing in recent months — just as the
hype around solid-state batteries seems
to have fizzled.
It
comes as increasing
EV sales continue
to drive up global battery demand, prompting auto giants to team up with major
cell manufacturers on the road to full electrification.
While
some OEMs (original equipment manufacturers) have inked
deals with
solid-state battery developers, carmakers such as Mercedes, Porsche and GM
have all bet big on silicon anodes to deliver transformative change in the
science behind EVs.
A
recent report from
consultancy IDTechEx described the promise of advanced silicon anode materials
as "immense" for improving critical areas of battery performance,
noting that this potential hadn't gone unnoticed by carmakers and key players
in the battery industry.
It
warned, however, that challenges such as cycle life, shelf life and — perhaps
most importantly — cost, need to be addressed for widespread adoption.
Venkat
Srinivasan, director of the Collaborative Center for Energy Storage Science at
the U.S. government's Argonne National Laboratory in Chicago, said silicon
anodes appear to have the edge over solid-state batteries.
"If
there's a horse race, silicon does seem to be ahead at least at this moment,
but we haven't commercialized either one of them," Srinivasan told CNBC
via videoconference.
Srinivasan
said five years ago silicon-anode batteries had a calendar life of roughly one
year, but recent data appears to show a dramatic improvement in the durability
of these materials, with some tests now projecting a three to four-year
calendar life.
Unlike
the cycle life of a battery, which counts the number of times it can be charged
and discharged, the calendar life measures degradation over time. Typically,
the calendar life of a battery refers to the period in which it can function at
over 80% of its initial capacity, regardless of its usage.
Srinivasan
said solid-state batteries, long billed as the "holy
grail"
of sustainable driving, still have a long way to go before they can match the
recent progress made by silicon anodes.
"That
transition still has to be made in solid-state with their metal batteries and
that's why I think you're hearing from people that, hey, it looks like that
promise hasn't panned out," Srinivasan said.
"That
doesn't mean we won't get there. It may happen in a few years. It just means
that it feels like today silicon is in a different part of the technology
readiness level."
More
Solid-state
batteries may yet catch up — but silicon anodes are winning the race to power
EVs
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
Neither
a state nor a bank ever have had unrestricted power of issuing paper money without
abusing that power.
David
Ricardo.
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