Today was the first time that I have passed the Port of Oakland and it was completely empty. 2 years ago every berth would have been taken; there would be 10 gigantic container ships and the Oakland docks would be humming with activity. Today - zero, zilch, nada.
To be fair as I got on the suspension side of the Bay Bridge I saw a Hyundai container ship just clearing the Golden Gate Bridge. But still the American consumption machine has ground to a halt.
So when I logged in today I saw this referenced on Mish which is absolutely stunning:
The experts agree We're going Full MMT So start buying gold Mauldin Economics on the prestigious Camp Kotok economic gathering: ...
Gothamist : A 58-year-old taxi driver killed himself in his Queens home this month, marking the eight suicide in the taxi industry this yea...
There are very few financial problems that can't be solved by a suitable application of asset bubbles.