⛏ Copper price sets new record

Feudalism
From the great mind of Kuppy, should we be positioned for Feudalism? Not as a joke, but as the only mental model that explains why the macro world acts the way it does right now. Should we stop waiting for “real economy” businesses to work? Should we stop complaining when value names make new multi-year lows? What if this isn’t a soft-patch, and instead, it is the new equilibrium? Read on »

America's $1.66 Trillion Auto Debt Bomb
Auto loans are now a bigger consumer debt category than student loans (8.9%) and significantly larger than credit cards (6.6%). Think about that for a moment. We’ve spent years hearing about the student loan crisis and worrying about credit card debt. But auto loans have quietly become a bigger piece of the consumer debt puzzle than either of those. Read on »

Copper price sets new record
Copper prices soared to a new record in London following a spike in orders to withdraw the metal from London Metal Exchange warehouses amid concerns of a global supply squeeze. Futures on the LME jumped as much as 2.6% to more than $11,400 per tonne during Wednesday’s morning trading, surpassing the previous peak set two sessions ago. It has since retreated to around the $11,100 level. Read on »