These are the people for which satire was invented.
As our delegates fly in today for the first day of #Davos2022 we’re excited to talk about climate change. pic.twitter.com/3NbtzBPBFB
— World Ecommunist Forum (@EcommunistForum) May 22, 2022
Y2Kyoto: State Of Anorexia Envirosa
They think we can’t find the lampposts when the lights are out.
The North American Electric Reliability Corporation (NERC) has released its latest reliability assessment for the summer of 2022 and, to put it mildly, the news is not good. In far too many states, the power grid is already nearly at full capacity, and in the next few months, that capacity will be exceeded. This isn’t a question of “if” or really even “when.” It’s just a fact. Industry experts know this and have been trying to sound the alarm for several years. Critics are trying to place the blame on climate change (as they do with everything else) in the form of extended droughts and heatwaves. Those factors definitely exacerbate the problem, but this was going to happen in the next year or so anyway. And thus far, the government has done virtually nothing about it.
I think they’re wrong.
Don’t You Worry, Child
Central planning will save the day.
Under Operation Fly Formula, USDA and the Department of Health and Human Services (HHS) are authorized to use DOD-contracted commercial aircraft to pick up overseas infant formula that meets U.S. health and safety standards, so it can get to store shelves faster. In addition, President Biden has directed his Administration to take a number of other important actions to ensure there is enough safe infant formula for families, including invoking the Defense Production Act…
Probably the most humiliating tweet of all time…
Centrally planned havoc
The idea that a monetary system can be centrally planned has about the same chance of success as centrally planned automobile manufacturing or farming. But that doesn’t stop Keynesians from insisting that things would be better if the central planners would only adopt their particular tweak-of-the-week.
A central bank digital currency theoretically allows for micro-targeting — perhaps by sector, perhaps by region, perhaps by socio-economic class — with real-time feedback, and that could be invaluable the next time the economy needs stimulating.
Stimulating, in this case, meaning ushering in yet another round of capital destruction.
Watch out for the bears
If anyone thought that the economy could be shut down for two years, inundated with green energy boondoggles, get involved in a war and just seamlessly recover, we have news for you. It turns out that the economy is not just like a VCR where you can hit “pause” and “play” as often as you like.
US stock futures slumped again, extending yesterday’s brutal selloff that erased $1.5 trillion in market value on concerns about everything from slowing growth, to Chinese lockdowns, to soaring inflation and tightening monetary policy. Contracts on the S&P 500 were down 1.2% 7:30 a.m. in New York, having earlier dropped to 3,856, one point away sliding 20% from January’s all time highs, and triggering a bear market.
Arsonist foresees more fires
When the fox is employed to guard the henhouse, should it surprise anyone that a shortage of hens soon follows?
The Governor of the Bank of England has warned of “apocalyptic” global food price rises and said he is “helpless” in the face of surging inflation as the economy is battered by the war in Ukraine.
A Net Zero Test Drive
Utopia is finally within reach;
Sri Lanka’s new prime minister said on Monday the crisis-hit nation was down to its last day of petrol, as the country’s power minister told citizens not to join the lengthy fuel queues that have galvanised weeks of anti-government protests.
Ranil Wickremesinghe, appointed prime minister on Thursday, said in an address to the nation the country urgently needed $75 million in foreign exchange to pay for essential imports.
“At the moment, we only have petrol stocks for a single day. The next couple of months will be the most difficult ones of our lives,” he said.
“We must prepare ourselves to make some sacrifices and face the challenges of this period.”
Two shipments of petrol and two of diesel using an Indian credit line could provide relief in the next few days, he added, but the country is also facing a shortage of 14 essential medicines.
Sri Lanka is in real chaos. Hungry residents are literally preying on wealthy residents and officials, burning their homes and cars. The police open fire to kill. More than 200 people have already been killed. pic.twitter.com/SBdXTsXpnE
— Wittgenstein (@backtolife_2022) May 16, 2022
You Will Live With Your Mom, Eat Bugs, Own Nothing And You Will Like It
Headed for default
A fiat monetary system characterized by exponentially rising debt is not a “healthy” economy, so no, it won’t tolerate half percent rises in interest rates without triggering an unmanageable collapse in asset values. These clowns need to stop promoting the “Goldilocks” narrative while they still have some credibility left.
Responding to the worst inflation the U.S. has seen in more than 40 years, the central bank official said she foresees “an expeditious march” through the year toward benchmark interest rates that would neither stimulate nor repress growth — the “neutral” rate, in Fed parlance.
The Globalist Agenda
How the World Health Organization wants to control public health. I suppose its just another step towards a one world government. Dear Leader Justin certainly supports WHO. He has increased Canada’s contribution to the organization. In somewhat related news. Another UN scandal.
You Will Live In Pods, Eat Bugs, Own Nothing And You Will Like It
Martin Armstrong’s Crystal Ball
More of a crystal computer model. Unlike other models Armstrong’s computer generated forecasts have been uncannily accurate for a long time now.
If he’s right again we’ve got a lot of troubled times ahead of us.
Why Freeze in the Dark?
Winter’s too far off. They plan to get “dumber for the summer”.
Wall Street Journal- Electricity Shortage Warnings Grow Across U.S.
From California to Texas to Indiana, electric-grid operators are warning that power-generating capacity is struggling to keep up with demand, a gap that could lead to rolling blackouts during heat waves or other peak periods as soon as this year.
The risk of electricity shortages is rising throughout the U.S. as traditional power plants are being retired more quickly than they can be replaced by renewable energy and battery storage. Power grids are feeling the strain as the U.S. makes a historic transition from conventional power plants fueled by coal and natural gas to cleaner forms of energy such as wind and solar power, and aging nuclear plants are slated for retirement in many parts of the country.
Temporarily Venezuela
Price controls are on the table.
…they’re telling us this is what they want. and we’d be well advised to take them at their word on this one.
watching the same folks that came into office and instantly killed pipelines, ended drilling leases, and upped costs then throttle supply chains in sanctions after doing their damnedest to provoke a war (and succeeding) go on to blame putin and oil companies for the spiking prices in gasoline is astounding. (though not as astounding as watching anyone fall for it…)
they ship diesel to ukraine, set off shortages at home, and keep killing leases and upping prices on those that remain.
Though to be fair, not even Chavez was so stupid as to dive into a proxy war in Europe.
More: Wholesale inflation climbs 11% in April
Bare Cupboards Biden
ZeroHedge- Biden Admin Cancels Huge Alaska Oil And Gas Lease As Gas Prices Hit Record Highs
The Biden administration has canceled one of the most high-profile oil and gas lease sales which was pending before the Department of the Interior, at a time when Americans are suffering from record-high prices at the pump.
“The Department also will not move forward with lease sales 259 and 261 in the Gulf of Mexico region, as a result of delays due to factors including conflicting court rulings that impacted work on these proposed lease sales,” said an agency spokesperson.
Tales From The Ice Cream Vault
When Porter gave an emotional speech about how inflation has been hitting her family for months during a private House Democratic Caucus meeting last week, she said it seemed like the first time the personal toll of high consumer prices had sunk in for some lawmakers in the room.
“Too often, Congress recognizes issues too late,” Porter, a top GOP target this fall in a swing district, said in an interview. “I had a colleague mention to me, ‘We’re not seeing it in the polls’ … Well, you don’t know what to ask.”
For Porter, the episode revealed how much work Democrats still need to do to assure voters they understand everyday anxieties, particularly inflation’s strain on family budgets. She’s not alone: Some Democrats have warned for months their party is falling short when it comes to communicating to an increasingly exasperated public.
“assure voters they understand…”
It’s Only for Four Decades
It’ll be over just like that.
Vancouver Sun- Why Canadian Wages Never Seem To Go Up
Ottawa’s economic strategy is based on several “shaky pillars,” which include using “record immigration levels to turbo-charge population growth and housing demand in major cities,” Williams said.
“The political class appears to have lost interest in efforts to raise workers’ productivity and real wage growth through higher business investment per worker.”
Toronto-based analyst Stephen Punwasi says Canada is on its way to becoming the “next Greece,” referring to the way Greeks’ personal incomes tanked more than almost anywhere else after 2009 because of the housing-mortgage-ignited recession.
Read the whole thing.
Find This Man A Bomb Shelter
That only opens from the outside.
Radioactively stupid.
“The party told you to reject the evidence of your own eyes and ears”
The crash begins?
Central bankers intent on raising interest rates are hoping that it only impacts one facet of the economy: consumer demand. Their reasoning is that unemployed people have no means to bid up the price of cars, TVs or food.
But an economy is not a series of disconnected linear relationships. It’s more like a matrix, with impacts going off in all directions that are very hard to predict, much less control. It looks like the housing market is starting to feel that impact. How long until the damage spreads to the lenders and the banking system itself?
Buyers slammed on the brakes last month. The number of houses sold in Toronto declined 26% in April compared with March, according to the board’s seasonally-adjusted data. Vancouver home sales also dropped sharply.