Hurricanes and Other Risks

Mon, 2017/08/28 - 12:49pm | Your editor
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My Paris-based Chinese-American friend who mastered Schwitzerditsch to gain a third language after she married Uli has died. I said Kaddish for her, although she was (of all things) a Lutheran, over the weekend. The passage read from the Torah included the famous words “justice, justice, shall ye pursue” which certainly described Sylvia, who was a volunteer for everything from visiting Jewish old-age homes to chat in her rudimentary Yiddish to organizing French-resident Americans to petition their native land, most recently against Trump's conflicts of interest.

She will be missed.

 

You may wonder why the closing of docks, refineries, and pipelines in Harvey-hit Houston has led to lower crude prices. But if Texas is not buying crude, there is less demand, even if there is a shortage at the pumps. The price will rise again after Houston dries out. The dollar is also down because Houston is an export port for gasoline and other refinery products.

Meanwhile the haven commodity today is gold, helped also by a trend among central bankers last week to talk less about hiking rates. Higher interest rates hurt gold demand because the yellow metals doesn't produce earnings, and therefore holders are losing more.

 

My Sunday blog did not go out correctly so I included the major note for paid subscribers again today. We have news from Israel, Denmark, Switzerland, Ireland, Brazil, India, Hong Kong, Canada, and Australia today.

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