Reply to Does anyone else feel like we are the precipice of economic calamity?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am less concerned about the US than about the UK and Europe.  They are facing a very harsh winter with little heat and are scouring the world for sources of energy including war torn areas like Yemen.

Because of the shortage of energy, they are facing far higher inflation than we are. This is new territory for us and it is difficult to see from here what the knock on effects could be, including on the US.

One can only hope for a mild winter.  [/quote]

US energy markets are not insulated from energy crises in Europe.  Europe's huge energy shocks and problems will reverberate in the US.  Besides, natural gas prices have exploded by several fold already. Pain will already be felt by Americans this winter.  Now throw in big energy problems across the planet. It will be very dicey over the ensuing months.[/quote]

NP and I thought we were somewhat insulated for this winter due to the fire at that LNG facility in Texas that's supposed to be offline until the end of this year.  Obv. Thats not forever but I thought we were going to be mostly OK this winter.[/quote]

The LNG facility will come back on line. The US is unlikely to see shortages, except in the NE — but that’s their own doing because they refuse to build gas pipelines — but prices will rise. Biden is quietly pushing gas companies to stop selling to Europe & build US stocks, but if they do, Europe will be in a real crises (even more so than they will be already).  European manufacturers are already shutting down and the prices of everything will rise, including food, as fertilizer pants (which are very energy intensive) cut back.

It’s not good. [/quote]

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