Stock market collapsing

shopping mall foot traffic

is down 90%

from the post pandemic boom peak

goodbye house prices

We're experiencing a realization about what is valuable. Turns out what's most valuable in a first world monetary based society is EASY access to AFFORDABLE ENERGY. All that stuff in walmart and target is being revalued based on the cost of energy, pricing a portion of the population out of the market for the products and services. It's not an accident. It costs more (energy / money) to extract energy resources from the crust of the Earth than it ever has in history. The easy energy has been extracted. Now, the companies that do the extracting need a price a lot of citizens cannot afford to stay in business. Keep in mind those "profits" they make have to be re-invested in future projects, or flow rates (supply to market) decrease rapidly. That's part of the reason energy has become so expensive. A LOT of investment capital went to projects trying to glorify electrons as an energy source. Investors moved money out of conventional (hydrocarbon) energy into wind mills and solar panels. Now we are seeing the return on those investments. The investment capital for future (todays) production went to "electrify America" projects that don't even provide a fraction of what it takes to run a first world society. So here we are. With an energy supply deficit due to the average investors inability to understand the difference between the energy density of electrons as compared to hydrocarbons. It's like comparing a belt fed machine gun to a water pistol. They're not even in the same category. It is my assertion that the average American is about to decrease their energy utilization by a lot. Whether voluntarily due to concerns for the environment, or due to a lack of available/affordable supply. But that is going to be theme moving forward as best I can tell.

crypto market turning down

Trust Biden's economic plan, he's playing 4D Chess.

I agree. One must look far and wide around here anymore to get good intelligent and informative comments like the ones above!

That's a good example of people being "priced out" of the liquid fuel club. I suspect before too long retail gasoline will become prohibitively expensive for some people. People aren't going to go to walmart as much to buy all the Chinese trinkets. Either due to them not being there because of shipping / supply line problems, or because the price increased beyond what the shopper can justify paying. When the cost of energy goes up, everything else goes up right along with it.

That's a good example of people being "priced out" of the liquid fuel club. I suspect before too long retail gasoline will become prohibitively expensive for some people. People aren't going to go to walmart as much to buy all the Chinese trinkets. Either due to them not being there because of shipping / supply line problems, or because the price increased beyond what the shopper can justify paying. When the cost of energy goes up, everything else goes up right along with it.

The buried lead here is that Walmart has 23% less business.
So, where did all those people go?

nice thread! WED CARSH!? ....TUNE-IN @3PM EST! HOO - WAH! UH..

So peak Oil was right just off by 3 decades. Ok maybe but if that's the case why kill fracking? The consequences of peak Oil are far more devastating than the consequences of the environmental impacts of fracking.

People arent driving any less at $5 gass..traffic is even higher...buss tickets are $3 ..if they go any higher noone will ride them..even $3 one way is a rip...imagine 5$ one way....no way

Because fracking as an industry is a net energy loser. It takes more energy to power the project than you get out of having done that. The fracking industry as a whole has NEVER turned a profit. Look it up. Small individual companies can turn a profit on small wells with microscopic flow rates, but the industry as a whole is not profitable. That's why the consolidation, bankruptcies, mass firings, the production slow down, etc. People started to realize fracking (at least at breakneck rates) wasn't going to make money. So, a lot of capital recently has gone from fracking and solar/wind mills to deep water. The fact is, the easy / cheap energy has been extracted. What remains costs more. A LOT more. So prices go up. Monetary based system of governance.

Looks like Russia keeps on winning.

DAILY LOW SO FAR TODAY IS 32,155

...THEN..IS HAS POOR SUPPORT ALL THE WAY DOWN TO 31,825..AFTUH

THAT...29,995. CAPS.

It was a nice attempt to slow the loss of US dollar reserve currency status.

It bought the US a decade or so.

THERE GOES THE FIRST ONE!.....

Probably. That would make sense. They were able to get LOTS of energy out of the ground, but weren't making any money doing it. So eventually investors backed out (very upset) and the industry shrunk very quickly. I don't think we'll see anything like that again. Without massive subsidies, or some way to stay profitable.

"Doesn't take a rocket scientist."

Well, Elon Musk maybe..