Freedom

Freedom Financial Archive | Originally posted Nov 09, 2022 The US jobs market is showing some different signals we want to look at in terms of which one matters most as we go forward. There is a lot of disconnect between what the non-farm payroll is showing and what the household survey is representing. Essentially, […]

Freedom Financial Archive | Originally posted Nov 04, 2022 In our last daily, we talked about a few things. Let’s recap: We’re running out of diesel… fast. It’s difficult to get the required diesel to the Northeast because they don’t have the pipeline and rail infrastructure, nor enough Jones Act vessels available to receive it.

Freedom Financial Archive | Originally posted Nov 03, 2022 It’s easy to channel your “inner Seinfeld” and point at the Russians and Saudis for the diesel shortage. But in truth, it’s a tragedy of errors committed by US politicians – and US voters – that’s to blame. Diesel, diesel anywhere? Nor a drop to burn.

Freedom Financial Archive | Originally posted Oct 21, 2022 Houston, We Have a Storage Problem The natural gas backdrop remains supportive. But there is nothing in the cupboard! Near-record low inventories for this time of year have put a bid under the market, keeping the price of natural gas high. Below is a chart of

Freedom Financial Archive | Originally posted Oct 18, 2022 October’s Empire Manufacturing Index paints a dire economic picture going into year end. The end of the month always brings a plethora of data, especially from the regional Federal Reserve banks. Each section provides a broad overview regarding the health of the economy in their district.

Freedom Financial Archive | Originally posted Oct 05, 2022 The Old China Hand Shows His Pair of Deuces The Chinese data only strengthens the guidance we have provided about the consumer and general economic headwinds. The issues proliferate. The CCP official data confirms it. There have been studies done that show any Chinese data (good

Freedom Financial Archive | Originally posted Oct 04, 2022 Jonesing for New Ships The Jones Act mandates only US-built ships can move product from US port to US port. So, the supply of LNG (liquid natural gas) tankers is severely constrained, as the US doesn’t build any. As a result, the price of LNG is

Freedom Financial Archive | Originally posted Sep 30, 2022 Let’s think about the timing of when crude is purchased and when it’s turned into product. Here is an example: China decides to buy an Angolan cargo for Nov 28th loading. Depending on the size of the vessel, it will take 2-3 days to fill it

Freedom Financial Archive | Originally posted Sep 30, 2022 Over the last few days, as prices have soared, we’ve discussed the inflation issues. The biggest knock-on effect is the inability of people to spend, as wages lag the rise in living costs. You’ve seen headlines about salaries going higher, but the news always leaves out

Freedom Financial Archive | Originally posted Sep 30, 2022 The U.S. GDP data came out today and was much weaker than estimates. Growth was negative 1.4%, but there are a few caveats in the underlying data worth pointing out. The “Fiscal Drag” accelerated as spending declined further out of the federal government. There was a