by Mish Shedlock, Mish Talk:
Here are the two key questions of the day Europe needs to address: How long and what’s the economic impact?
Key EU Natural Gas Points
- The long term average of of natural gas price in the EU is in the 12-15 range. It’s now 148.
- The EU is paying 10 to 12 times its long-term average
- Since June 8 (blue box) the price rose from 79 to 148, a rise of 87 percent.
Before addressing what happens if and when Putin shuts off natural gas to Europe, let’s take a look at what’s happening in the US.
The price units are not the same so it’s best to think in percentage terms.
Russia claimed on Sunday to have captured the city of Lysychansk, the last remaining holdout in Ukraine’s Luhansk province, which would give Moscow forces control of the eastern Donbas region.
The course of human history may sometimes be shifted by a single spark if it happens to ignite a barrel of ideological gunpowder. With perfect timing for our Fourth of July holiday, an enormous explosion of public attention has suddenly engulfed the origins of the Covid outbreak, renewing the discussion of the causes of the global epidemic that has taken more than a million American lives and disrupted the entire world.
Our property with a Walmart store has arguably declined 25% in value in the last six months. But cash-flow hasn’t changed.
The American people have seen right through President Biden’s propaganda and lies on the effectiveness of the Covid-19 injections because according to CDC data, 70% of the entire population of the USA have not had either a first, second or third dose of the Covid-19 vaccine.
