David Fuller and Eoin Treacy's Comment of the Day
Category - General

    Tesla's big battery in South Australia is a "complete waste of resources," claims Nissan

    This article by Simon Alvarez for Teslarati.com may be of interest to subscribers. Here is a section:

    Thomas’ statement comes as he was discussing the new Leaf’s vehicle-to-grid/vehicle-to-home (V2G/V2H) system, which will allow the all-electric car to serve as a home battery unit. With the system in place, the Leaf will not only store energy by plugging into a home or business; the vehicle could also serve the energy back when needed. V2H is already in use in countries such as Japan, and a release in Australia is expected within six months. 

    The Nissan executive noted that the Leaf’s V2G system has the potential to help homeowners save money, especially if the vehicle charges through a rooftop solar system during the day, and uses its stored energy to power appliances and lights at night. 

    “The way we distribute and consume energy is fundamentally inefficient … what we need is flexibility in the system. It’s great that we’ve invested all this money in renewable energy, but fundamentally we’re wasting most of that energy because it’s all being generated in the middle of the day when we don’t really need it,” he said. 

    Tim Washington, CEO of charging solutions provider Jetcharge, noted that Nissan V2H technology has a lot of potential, considering that vehicles spend much of their time just parked, or in the case of electric cars, plugged in. 

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    "Trappedâ"

    Thanks to a subscriber for this report from Jeffrey Saut which may be of interest. Here is a section:

    In 55 years of observing markets, we have NEVER seen such a downside capitulation as October 2008; and, we have believed we are in the biggest secular bull market of my lifetime!  This morning Chinese Foreign Ministry spokeswoman Hau Chunving said, “China will not accept any kind of extreme exertion of pressure, intimidation or blackmail. Neither will China give in an inch on major issues of principle.  Now it's time for Washington to show sincerity and demonstrate to the world that the US is still a reliable partner that can carry out negotiations.”  And with that the renminbi is at decade lows versus most currencies.  Such action has the preopening S&P 500 futures off some 40-points . . . Good Grief!

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    Families Go Deep in Debt to Stay in the Middle Class

    This article by AnnaMaria Andriotis, Ken Brown and Shane Shifflett for the Wall Street Journal may be of interest to subscribers. Here is a section:

    Counting all kinds of debt, including mortgages, consumers aren’t nearly as debt-burdened as they once were. In the fourth quarter of 2007, the last year before the financial crisis struck, households devoted 13.2% of their disposable income to debt service. In the first quarter of 2019, that number was 9.9%, largely due to low interest rates.

    Partly because of widespread refinancing, mortgage payments since the start of 2017 have claimed the smallest slice of disposable personal income in decades, in the low 4% range, according to Fed data.

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    Going down: Property prices cool as affordability bites

    This article by Madeleine Lyons for the Irish Times may be of interest to subscribers. Here is a section:

    Latest reports have highlighted a distinct slowdown in growth in the housing sector since the start of the year. Despite a clear need for more houses this is not converting to actual sales. In fact, price drops have become commonplace in the second-hand market, and sales of properties over €500,000 have shown a 21 per cent drop since the start of the year.

    All of this points to an affordability issue for buyers, and a gradual market realisation that prices need to be adjusted accordingly. Add to this fears over Brexit and Central Bank mortgage lending restrictions and the slow 2 per cent growth in number of mortgage drawdowns in the first quarter begins to make sense. Compare this with growth rates in 2018 of about 20 per cent.

    Meanwhile, the throughput of housing stock for sale is strong. “June and July have been unseasonably strong with the flow of stock coming through,” said Angela Keegan, managing director of property website MyHome.ie. “It’s possible people are more confident about the market because, remember, if they are selling they are buying too. We know interest rates are not going up in the near term and there are excellent fixed-rate mortgages available too.”

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    China's Yuan Tumbles Past 7 Per Dollar for First Time Since 2008

    This article by Tian Chen and Sofia Horta e Costa for Bloomberg may be of interest to subscribers. Here is a section:

    The yuan declined 0.9% in mainland trading last week, its biggest loss since mid-May, after President Donald Trump abruptly escalated the trade war with new tariffs on Chinese goods. Beijing pledged to respond if the U.S. goes ahead with a plan to impose a 10% tariff on a further $300 billion in Chinese
    imports.

    “It appears that the tariffs hike suggests the return of tit-for-tat moves and a suspension of trade talks, and the PBOC sees no need to keep the yuan stable in the near term,” said Ken Cheung, a senior currency strategist at Mizuho Bank Ltd. The tumble exacerbated losses in Asia’s financial markets.

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    The Top Miners Are Split on How to Chase the EV Battery Boom

    This article by David Stringer for Bloomberg may be of interest to subscribers. Here is a section:

    “We did a review of all the battery input materials -- nickel, cobalt, lithium,” said Eduard Haegel, asset president at the BHP’s Nickel West unit. “We think that in the medium-to-longer term there will be a margin that will be sticky for nickel -- we think it’s an attractive commodity.”

    BHP, the biggest miner, this year reversed long-term efforts to seek a buyer for the division, opting to retain Nickel West to benefit from forecast growth in lithium-ion batteries and a scarcity of high-quality nickel supply. From the second quarter of 2020, the unit will begin production of bright-turquoise colored nickel sulphate -- a premium raw material for the battery supply chain -- from a nickel refinery south of Perth, with plans to potentially carry out the industry’s largest expansion.

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    JAXA releases footage of Hayabusa 2 spacecraft's second asteroid touchdown

    This article by  Anthony Wood for NewAtlas may be of interest to subscribers. Here is a section:

    The Japanese Aerospace Exploration Agency (JAXA) has released a video showing the climactic moments of the Hayabusa 2 spacecraft's second descent to the surface of asteroid Ryugu. The goal of the risky operation was to capture newly exposed material from the asteroid's interior, which had been forcefully ejected during the creation of an artificial crater on Ryugu's surface in early April.

    The footage of the second dive was captured on July 11, 2019 by Hayabusa 2's publicly-funded onboard small monitor camera (CAM-H). The playback is at 10x actual speed, and shows the spacecraft's final descent to the surface, which occurred between 10:03:54 – 10:11:44 JST.

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