Market Talk – October 31, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 196.14 points or -0.50% to 39,081.25 • Shanghai increased 13.59 points or 0.42% to 3,279.82 [...]
The Electric Crisis in Europe
Many people do not realize that the global warming/climate change deals in Europe will eliminate gasoline and diesel cars on the streets come 2020. From Norway to India, the year 2020 will mark the end of petrol and diesel vehicles. This is part of the long-term bear market in energy. Germany wants to put at least a million electric vehicles on the roads. However, this energy policy presents a crisis. They never realized that to prevent cars from using oil-based energy, they have to get ready for a 25%-30% increase in power consumption. Shutting down nuclear power plants means you are trading one pollution source for another. Meanwhile, Germany wants to shut down all nuclear power by 2022. Nobody seems to have figured out the coordination of these two trends.
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