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26 days agoBanks get overnight Fed liquidity at 3.75% using their assets as collateral. Regular people facing cash crunches get payday lenders at 400% APR or have to sell their stuff at a loss. That’s an unfair deal, and banks are smart to take advantage of it. But it’s not really a good indicator of collapse. The 2019 repo spike looked scary at the time, rates shot up, the Fed stepped in, and nothing collapsed. This could be something similar. Could be wrong though.
China has more solar capacity than the rest of the world combined. Someone posted a photo essay of it a few days ago: https://e360.yale.edu/digest/china-renewable-photo-essay
I’ve watched lithium battery prices drop 90% in a decade. That’s Chinese manufacturing.
The US just bombed Caracas and kidnapped Maduro. Trump said the US will “run” Venezuela and maintain “a presence in Venezuela as it pertains to oil”. One country builds solar panels. The other invades countries for oil.
China is showing what it looks like to build your way out of the climate crisis. I respect that. The US is showing what it looks like to keep killing for the old economy.