Cold War, Hard and Soft
A cold war has hard and soft components, like an egg or the SAT. Last night the Oscars were a stark reminder the U.S. is winning the soft-power part of the war. The hard part could be a much different story.
“Nomadland,” a very good, very depressing movie about premature retirees living in vans, won best picture. Its director, Chloé Zhao, a Chinese national, won best director. (Frances McDormand, a national treasure, won best actress for her part in the movie. Also, if you didn’t find the movie quite depressing enough, please read Jessica Bruder’s very good book.)
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Oil Swings Near $62 as Investors Assess Near-Term Demand Outlook
Bloomberg 1 hr ago Elizabeth Low
(Bloomberg) Oil swung between gains and losses as investors assessed the outlook for demand ahead of a key OPEC+ meeting later this week.
Futures in New York traded near $62 a barrel after advancing 1.2% on Friday, the most in more than a week. The U.S. and China are recovering strongly from the pandemic and there are some positive signs from Europe, but the market is facing headwinds from a virus flare-up in India. That could pose a problem for the OPEC+ alliance, which has agreed to start adding more supply from May.