Juggling Dynamite

The most compelling argument for owning an electric vehicle is they cost much less to run than ICE (internal combustion engines). On average they are about 94% cheaper to fuel, 25% cheaper to insure, and 90% cheaper to maintain. With a fraction of the engine parts to replace, repair and maintain, they also tend to last hundreds of thousands of kilometers longer than the average ICE automobile. By 2022, new EV’s are also expected to be cheaper to buy than new ICE autos.  Already used EVs are competitive with comparable new ICE brands. Only those who don’t yet own an EV argue against them.

This week we begin our Green Energy Futures/CKUA Radio series “Life with an EV” with the story of Ed Ma and Rhonda Blair of Calgary, Alberta. Ed purchased a Tesla Roadster almost 10 years ago–and that was only the beginning of their romance with electric vehicles. Find out why–once smitten with the EV bug–drivers never go back after driving electric. Here is a direct video link.

The consensus, in retrospect, now agrees that the Great Financial Crisis was a product of indiscriminate lending, speculation and too much debt. Today, though, they see no such problems.  Record asset valuations and debt are no longer of concern because central banks are viewed as magicians once more.  A revelation will only come after a financial catastrophe devastates again. We can bank on it.

NEW Global Debt Monitor: Global debt hit $246T in Q1 2019, nearly 320% of GDP.

Debt by sector, Q1 2019 (as % of GDP):
🔹Households: 59.8%
🔹Non-financial corporates: 91.4%
🔹Gov’t: 87.2%
🔹Financial corporates: 80.8% pic.twitter.com/4Qu0ekvpZw

— IIF (@IIF) July 15, 2019

David Stockman summarizes the monetary madness at hand well in these clips.

David Stockman, author of “Peak Trump: The Undrainable Swamp and the Fantasy of MAGA” and former budget director under President Ronald Reagan, discusses his criticisms of current U.S. fiscal and monetary policies. Here is a direct video link.

Here is a link to part 2.

At yet equity markets and most policy-makers still banking on rate-cut OZ of old…

Willem Buiter, special economic adviser at Citi, discusses global monetary policy. Here is a direct video link.