There is no limit to the economic pain EU leaders are willing to inflict upon their citizens. t.co/kfyaLw3eHC
— Wall Street Silver (@WallStreetSilv) April 5, 2022
Taking the Russian Gazprom storage tanks in Germany doesn’t put natural gas inside of those tanks.
Is Russia more or less likely to ship natural gas to Germany after this move ? Not a trick question. t.co/cJvTJuzCVc
— Wall Street Silver (@WallStreetSilv) April 4, 2022
UK consumer confidence suffers biggest fall since global financial crisis
The mood among consumers about their finances suffered its biggest fall in March since the financial crisis of 2008 amid the tightest cost of living squeeze in a generation.
PwC’s consumer confidence report shows that UK households are cutting back on discretionary spending like eating out, holidays and fashion due to rising food bills.
“Spending expectations on eating out and going out have plummeted; they are now the lowest categories as consumers look for ways to tighten their spending,” the report said.
“Other discretionary spending should expect to be hit hard, with holidays and fashion spending intentions also seeing substantial falls since last Spring. Pent-up demand and weak comparatives may mean that both categories should see double-digit growth compared with 2021, but neither is expected to reach pre-pandemic heights.”
Europe's energy burden (as % of GDP) is back to the 70/80s in one year.. OUCH.. pic.twitter.com/lBbUNIseJd
— AndreasStenoLarsen (@AndreasSteno) April 5, 2022
EU to ban all coal imports from Russia.
— unusual_whales (@unusual_whales) April 5, 2022
Russia is the world's third largest exporter of thermal coal, shipping 150mm tons in 2021 pic.twitter.com/iBNYnh0crx
— zerohedge (@zerohedge) April 5, 2022
German Foreign Minister Baerbock: We Have Agreed As The EU That We Will Completely End Fossil Fuel Dependency On Russia, Starting With Coal; That Will Be Followed By Oil And Then Gas
— LiveSquawk (@LiveSquawk) April 5, 2022
Commodities are on track for their best year since 1915. pic.twitter.com/8BdTze2kWN
— Markets & Mayhem (@Mayhem4Markets) April 5, 2022