The Penny/Treasury/Asteroid Drops
By Michael Every of Rabobank
We all see what we want to see.
Last Friday’s Michigan consumer survey was bipolar: 5-year ahead inflation expectations for Democrats leaped to 4.2% from 2.6% under President Biden, while for Republicans they plunged to 1.5%, from 3.4%. Who is right?
On Superbowl Sunday, President Trump ended production of US pennies, which now cost 2.8 cents to make. Just like that, a monetary norm was up ended. Trump also hinted at irregularities with some US Treasuries, so “maybe we have less debt that we thought.” That was either a fumble or a play towards the possible repudiation of some Treasury holdings, which would up-end the norms of the entire global monetary system. Can you decisively say which?
Scientists are reporting a 2.2% chance of an asteroid striking Earth in 2032. Most people are dismissing this entirely or saying that’s a low probability event: those who understand probability, and what an asteroid smacking into the planet did to the dinosaurs, are far more concerned.
As Elon Musk bids for OpenAI, a Tyler Durden Tue, 02/11/2025 – 13:05
Source: https://freedombunker.com/2025/02/11/the-penny-treasury-asteroid-drops/
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