Greetings,
United States: The Fed’s Beige Book report shows rapidly improving economic conditions (2 charts).


United Kingdom: UK imports have shifted toward China since 2018.

China: Fertility rate:

Beijing’s response to deteriorating demographics:

Cryptocurrencies: Bitcoin is correlated to market sentiment (it’s a risk asset, not a safe-haven asset):

Energy: Global crude oil inventories will continue to tighten, according to OPEC.

This chart shows energy mixes by region.

Food for Thought: What bothers Americans about the federal tax system?

Edited by Richard Holmes
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