Shipping costs have plunged both to and from China, removing one of the drivers for some forms of supply chain inflation.

Parts of Europe are starting to run out of diesel...

United States stocks remain very low.

Now look at what powers farm equipment.

Five years ago, China was the most reliable producer of nearly any manufactured good. Today it is incredibly unpredictable.

Well, cue all the blue checkmarks losing their minds.

#China

*Oct. manufacturing PMI falls to 49.2 from 50.1 in Sept.; est. 49.8 (20 economists)

*Oct. non-manufacturing PMI falls to 48.7 from 50.6 in Sept.; est. 50.1 (13 economists)

*Oct. composite PMI falls to 49.0 from 50.9 in Sept.

Bloomberg

There’s a tidal wave of startups that will shutdown soon.

Reach out to the founders and applaud them for trying.

This is the best routine of all time 😂 Tennessee Dance Team

Just a few guys in China in a holding center, waiting to be taken to isolation camp…

🔊😰

Tomorrow, I'll be speaking at a large +$500B financial institution on why US investors should be looking at repatriating their capital out of China.

China's GDP data isn't real & US investments are increasingly at risk of being seized by the CCP. China has become uninvestable.

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This is not oil, a meme stock or even a shitcoin. It’s credit card debt in America.

A Chinese business consultant in a Ted-style talk justified zero-Covid policy by saying that in 10 years the West will be brought to its knees b/c long-Covid, which will decimate most of its labor force.

More from China…

If you try to enter public transport with a yellow QR code… immediately an alarm goes off…

If your QR code is not green, you are cut off from society with no access to transport, food and even your residential complex…

🔊sound ...😰🧐

I think we kinda lost control of the fog machine here Michael William Vincent

I know this will sound odd, but we actually have not gotten yet to a serious economic conflict between Russia and the West. The European confiscation of Russian state assets may well be the start of the <real> war. dw.com/en/russia-ukra…

Investors hoped China would ease its stringent Covid Zero strategy once the pivotal Communist Party congress cemented President Xi Jinping’s grip on power. Instead, the opposite seems to be happening.
bloomberg.com/news/articles/…

🧵Three things to watch in coming weeks/months:

1) Diesel shortage (~25 days of supply) prices likely to spike

2) Second railroad union votes down labor deal needed to avoid nationwide strike

3) Growing Pile of Distressed Debt Signals Coming US Default Wave