Category: Great Reset

Don’t You Worry, Child

Democrats Great Reset 22 Comments

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

Great Reset 11 Comments

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

Great Reset It's Probably Nothing 13 Comments

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.

 

A Net Zero Test Drive

Climate Cult Great Reset 24 Comments

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.

Headed for default

Great Reset 23 Comments

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.

 

Why Freeze in the Dark?

Climate Cult Great Reset 29 Comments

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

CreepyJoeBiden Democrats Great Moments In Socialism Great Reset 40 Comments

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

Climate Cult Democrats Drill, Baby, Drill Great Reset 18 Comments

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.

Fox- The baby formula shortage continues to get worse

Related

Tales From The Ice Cream Vault

Democrats Great Reset 29 Comments

Politico sounds the alarm;

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

Great Reset Shiny Pony 17 Comments

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.

The crash begins?

Great Reset It's Probably Nothing 19 Comments

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.

 

La Grande Réinitialisation

Drill, Baby, Drill Great Reset 30 Comments

Intentional destruction or incompetence cascade? It seems like everything is breaking at once.

Half of France’s nuclear power plants are offline because of “maintenance or defects,” which comes at a precarious time for energy and power markets across Europe as prices soar due to the Ukraine conflict.

Bloomberg reports energy supplier Electricité de France (EDF) is struggling with widespread outages after 28 of the country’s 56 reactors are offline due to routine maintenance or defects.

France’s nuclear power plants supply more than 66% of its total power output. The outrage has caused nuclear power output to hit the lowest seasonal level in at least a decade.

h/t Adrian

Is it Canada’s turn for a housing bust?

Great Reset It's Probably Nothing 20 Comments

If the Canadian left-wing corporate media were half-awake, they’d be busy exploring the parallels between the U.S. housing market in 2008 and Canada’s today. One supposes that drawing attention to the freight train bearing down on mortgage holders would be too unwoke.

For Johnny Chen, a promotion and a substantial salary increase was not enough to help him find a home in Vancouver’s white-hot housing market, he told Fortune.

Chen, who sits at the top income bracket, told the publication he’s been scrolling through listings in the city every day for six months to no avail. Even single-family homes priced at $3 million need “substantial renovation work,” he said, making him “trigger shy.”

“It’s hard to wrap my head around prices right now. Vancouver’s real estate market is a bit crazy,” he said.

Proudly powered by WordPress & Skyrocket Themes

MENU

Navigation