Economics used to be the study of human action, with particular emphasis on discovering timeless principles and laws via historical research. Modern economics, with its emphasis on mathematical models bereft of rational principles, regards past experience as nearly useless. If you can’t think in terms of principles, you will just keep stumbling from disaster to disaster.
For European utilities, the peril is more complex than Nord Stream going dry. Some are wondering if this marks a sort of “Lehman Brothers” moment for Euro power providers, recalling the days of the United States 2008 housing crisis when risky loans came due on mortgages that buyers ultimately couldn’t afford.
With prices rocketing up, brokers are making margin calls and forcing utilities to shop around for cash.
Honestly, this is too generous. I don’t the Eurotards even applied math to their situation. Not correct maths at least.
The EU represents the conquest of a group of once sovereign nation’s trading block by central planning bureaucrats in charge of a token parliament. Following Austrian economics (Human Action), none of them would have a job and that certainly goes for the rent seeking technocrats that call themselves economists. Is there currently a leader in the so-called free world that is not hellbent in the same direction?
Anyone else remember how market analysts talked about the “Dot.com” bubble as a new type of market with new gravity defying rules that didn’t have to jive with “old” market fundamentals? Well that bubble soon burst spectacularly. Unreliable expensive “Green” Energy net zero EV only by 2035 looks like the “Son of”. It’s not a matter of “IF”.
When physics collides with ideology.
Thermodynamics be patriarchal white privilege, sexist and homophobic.
Just ain’t no doubt.
Governments everywhere have forgotten that electricity is an endless renewable resource that only requires proper management.
Hell will freeze over before Eurotrashies learn their lesson.
Heh, that might happen this winter.
But at least the bodies of Euro leaders hanging from lamp posts won’t smell till spring.
Let them chant “I do beleive in Global Warming” X 3. Did it work ?