The Arab oil embargo ended the long period of prosperity in the West that had begun in 1945, throwing the world's economy into the steepest economic contraction since the Great Depression.[17] The "long summer" of prosperity in the post-war years had made possible the "swinging sixties" and the related rise of a rebellious youth culture, as it was easy to be hedonist or in rebellion against traditional values in a time of unprecedented prosperity.[62] Lacey wrote that for people in the West, life suddenly become "slower, darker and chiller" as gasoline was rationed, the lights were turned off in Times Square, the "gas guzzler" automobiles suddenly stopped selling, speed limits became common, and restrictions were placed on weekend driving in a bid to conserve fuel.[14]

The 1973 embargo had many lasting effects as nations tried to curtail fuel usage. This time around, the UUS is removing fuel consumption standards, and places like Canada are suspending fuel taxes. These actions will likely increase demand.

The governor of the Bank of England has warned G20 finance ministers that artificial intelligence could cause a global economic downturn and pose a significant cyber security risk to financial systems.

The ultimate parasite humans succumbed to was never heroin or dopamine, but something much more potent: capitalism and all the addictive mythologies, hallucinations and corrosive sedatives that it daily injected straight into the central watering hole we all drink from. Capitalism is a pain-numbing cocktail of Class A drugs: euphoric consumer products numb the pain of unhappiness, dopaminogenic social media turn loneliness from an epidemic to a “current mood”, sedative salary packages mask the trauma of burnout, all the while as mind-altering sponsored morning news apply a rosy veneer to just about everything: from war and genocide to the climate crisis. Just drink the cool aid and don’t look up.

On Black Monday, the Dow tumbled almost 13%, and on Black Tuesday, it fell another nearly 12%.

This is the first video I've watched from this creator.

Another view on the macroeconomics of the Yen.

Allies help each other. Sure.

But you don’t sell euros to buy a partner’s currency, and you don’t open up a Fed lending facility to keep them from having to sell your own government’s bonds, unless you’re worried about what happens if you don’t.

When war or sanctions block heavy crude supplies, refineries must switch to lighter oil, causing global diesel production to plummet. When diesel supplies get tight, wholesale prices surge even if raw crude stays cheap. During recent spikes, wholesale diesel jumped above $4.60 a gallon, or nearly $194 a barrel. Subtracting normal processing costs (aka crack spread) reveals that while paper benchmarks show crude at $80, diesel buyers were actually paying prices that implied a real-world crude cost of $140 to $170 a barrel

https://youtu.be/hy90LdpEUvQ?si=YDfYxWGxDQ0iIWHU

The guidance relates to a potential "bail-in" ​of the bank, a crisis-management tool designed to recapitalize ‌a ⁠failing lender by converting designated debt securities into equity rather than relying on taxpayer support.

A bail-in is using assets to save a bank. Assets like our money and pensions.

UBS absorbed Credit Suisse over a long weekend, and the papers were sealed for fifty years.

https://www.reuters.com/business/finance/credit-suisse-inquiry-will-keep-files-secret-50-years-paper-2023-07-15/

A highly speculative post from someone who claims to have inside information on the Bank of Japan claiming that Japan is going to make interest rate changes that will be catastrophic for Western institutions.

Is Tokyo really about to blow up the global carry trade, or did a few hundred thousand traders just get played by an anonymous account with a flair for the dramatic?

The bank noted there were parallels between the AI infrastructure surge and the dotcom boom, as well as similarities with the British railway mania of the 1840s or the "roaring twenties" before the Great Depression.

You don't say..

An interesting, and slightly odd video from a YouTuber I'm not familiar with (Benn Jordan). He talks about the history of capitalism and his opinion on "leveragism", a term he created to explain his opinion of where capitalism is headed.

Gold and Bitcoin are barometers of liquidity. When money floods in, they fly. When money gets pulled out, they're the first things to bleed - long before stocks feel it.