boyz05 said:

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FWIW, a good friend of mine that is in the EV industry was at one of their big conferences recently in LA. He said one of the big topics specifically was the supply of available graphite outside of China. The industry is taking notice how much of a snowball effect this will have, especially with the exponential growth the EV market is experiencing.

The timing to mine and manufacture the stuff can take years so if WWR is ahead of the game then that should be good for most of us. As long as WWR stays the course of their plans with no delays, we will start to see the fruits of our patience, I hoping after this inflationary period this will pivot on the up for years to come.

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Our government is on the same page with domestic graphite production. Just hope they select WWR when they start handing out money.

https://crsreports.congress.gov/product/pdf/R/R47227

Triple_Bagger said:

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boyz05 said:

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FWIW, a good friend of mine that is in the EV industry was at one of their big conferences recently in LA. He said one of the big topics specifically was the supply of available graphite outside of China. The industry is taking notice how much of a snowball effect this will have, especially with the exponential growth the EV market is experiencing.

The timing to mine and manufacture the stuff can take years so if WWR is ahead of the game then that should be good for most of us. As long as WWR stays the course of their plans with no delays, we will start to see the fruits of our patience, I hoping after this inflationary period this will pivot on the up for years to come.

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Our government is on the same page with domestic graphite production. Just hope they select WWR when they start handing out money.

https://crsreports.congress.gov/product/pdf/R/R47227

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According to USGS, the United States did not mine any natural graphite in 2021, and no mineral reserves are indicated.94 One company, Graphite One, reports plans to develop an integrated natural graphite mine and extraction facility on 28,160 acres of state lands in Alaska.95 Another company, West water Resources, reports plans to develop an integrated natural graphite mine and extraction facility on 41,965 acres of private land in Alabama.96

Imports of natural graphite during 2021 are estimated to be 53,000 metric tons, and natural graphite exports in 2021 are estimated to be 8,400 metric tons. NIR on natural graphite was calculated to be 100%. During the period 2017-2020, China was the largest supplier of U.S. natural graphite imports (33%). For 2021, China is estimated to have the highest worldwide production of natural graphite (820,000 metric tons); total global production is estimated to be 1,000,000 metric tons.99

The price of natural graphite flake, which represented 57% of imports in 2021, averaged $1,600 per ton in 2021. This was the highest price for natural graphite flake in the last five years. The lowest price in the last five years for natural graphite flake was $1,350 per ton in 2019.100

At least WWR is on our governments radar.

techno-ag said:

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Bonfire1996 said:

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New car sales unexpectedly very strong for October. Key FED gauge. FED wants to see that flat to negative to indicate waning demand. Consumers blew right through the higher rates and kept buying everything being produced.

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People need to drive and there's been a shortage of new vehicles. Can't say I'm surprised.

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New car sales could be a lagging indicator now with drastic changes to the purchasing model. How many vehicles were "purchased" in October that were actually ordered 6 months ago.

Diggity said:

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guess that would depend on when they book the purchase

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Yeah that's accounting. I imagine it has to be after they take delivery, not when the deposit was made. But it's a great point. People are still waiting on cars they ordered a long time ago.

The number of people using credit cards to buy groceries is at an ATH. They're just trying to weather the storm but it's creating a debt bomb that will explode.

I always thought after housing in 2008 that the next credit bubble would be auto and cc.

It is harder to store than almost all other commodities, so supply is a sensitive knob causing spot prices to fluctuate more. Demand can fluctuate more with weather than many other commodities. I think those two plus the massive amount of leveraged trading of NG would big big reasons why you see large swings of futures.

Triple_Bagger said:

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ProgN said:

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The number of people using credit cards to buy groceries is at an ATH. They're just trying to weather the storm but it's creating a debt bomb that will explode.

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I don't understand the thought behind this strategy. Are people expecting a big increase in pay next year? Are they expecting the government to give out more free money?

US credit card debt is just under $1T. That's a decent little time bomb.

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They don't have another "strategy". You have to feed your family, and don't have a lot of extra cash to do it. They just haven't stopped the other discretionary spending just yet.

They always sit on a knife's edge and the government's asinine reaction to COVID pushed them all the way to the tip of the blade. These are the people that spent that stimulus money at Best Buy on a new TV.

Triple_Bagger said:

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ProgN said:

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The number of people using credit cards to buy groceries is at an ATH. They're just trying to weather the storm but it's creating a debt bomb that will explode.

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I don't understand the thought behind this strategy. Are people expecting a big increase in pay next year? Are they expecting the government to give out more free money?

US credit card debt is just under $1T. That's a decent little time bomb.

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Back to "most parabolic robust bull market of all time"..

Multiple entire generations have never worked in an economy that wasn't booming. And specifically.. in an economy that wasn't in a parabolic boom coupled with tanking rates and exploding cash supply.

All that to say.. go to an average chicken wing joint where a dozen wings is now a $20 meal and be in awe at the amount of seemingly lower middle class people waiting 30 mins to spend $50 on a single week night out.

Then remember the old saying about the average person and everyone dumber than them.

The average person quite literally has no idea how to cook, budget, plan, or conserve. Their entire life has been free easy money and spend it when you got it.

You think a little inflation is going to drop them from living the exact same way they've always lived? Nah. Charge it!

Edit: Buck Compton more eloquently made the same point. Blue star him.

Questioner: Would you back SBF [of FTX] again?

Kevin O'Leary: "He was one of the most brilliant traders in the crypto Universe... the answer would be, yes." pic.twitter.com/WYCDNRK74c

— unusual_whales (@unusual_whales) November 16, 2022

No capitulation in the crypto universe yet. The guy who SBF went in dry on and was actually named in a suit is still on board with more crypto….even knowing what he knows now.

This is incredible. Cognitive dissonance at its finest.

Triple_Bagger said:

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ProgN said:

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The number of people using credit cards to buy groceries is at an ATH. They're just trying to weather the storm but it's creating a debt bomb that will explode.

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I don't understand the thought behind this strategy. Are people expecting a big increase in pay next year? Are they expecting the government to give out more free money?

US credit card debt is just under $1T. That's a decent little time bomb.

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I think its a sudden problem for many. They net X each month and for most people they just make it for bills, rent or mortgage..etc with no extra.

Suddenly it costs X + 10% inflation to live.

I know I've had to decrease our savings and add to our checking account(bills) by about $600per month this past year

And that's along with a number of cost cutting measures

Maybe in several more months people are breaking their lease, defaulting on mortgages, not paying their credit card...etc

Also ironic that the bitcoin community is now demanding gov regulation as if it's their last lifeline.

I went through 200 charts tonight. Everything looks bad except Nat gas.

jamey said:

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Triple_Bagger said:

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ProgN said:

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The number of people using credit cards to buy groceries is at an ATH. They're just trying to weather the storm but it's creating a debt bomb that will explode.

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I don't understand the thought behind this strategy. Are people expecting a big increase in pay next year? Are they expecting the government to give out more free money?

US credit card debt is just under $1T. That's a decent little time bomb.

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I think its a sudden problem for many. They net X each month and for most people they just make it for bills, rent or mortgage..etc with no extra.

Suddenly it costs X + 10% inflation to live.

I know I've had to decrease our savings and add to our checking account(bills) by about $600per month this past year

And that's along with a number of cost cutting measures

Maybe in several more months people are breaking their lease, defaulting on mortgages, not paying their credit card...etc

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Live: British government announces new budget after political chaos and market turmoil

https://www.cnbc.com/2022/11/17/jeremy-hunt-uk-to-announce-budget-after-political-chaos-and-market-turmoil.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

Quote:

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Energy firms to face expanded windfall taxes

Hunt confirmed that from Jan. 1 until March 2028, the energy profits levy will increase from 25% to 35%, while a new temporary 45% tax will be levied on electricity generators, raising 14 billion for the Treasury next year.

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I'm sure this approach will workout splendidly.

Almost ensuring that they will be importing electricity somehow? In a time when you are facing potentially the biggest energy crisis since the 70's they are massively raising taxes on their own domestic energy producers?

Yep, this is going to hurt bigly this winter, especially if reports I've been reading about the upcoming winter are remotely accurate.