Category: Great Moments In Socialism

We Don’t Need No Flaming Sparky Cars

The stupid rich people market runs dry. (sorry, forgot the link!)

As inventories of electric cars grow faster than sales, car dealers are feeling increasingly discouraged by their prospects, according to a quarterly survey from Cox Automotive, the parent company of Kelley Blue Book. A dealer sentiment index derived from the survey shows sales expectations haven’t been lower since at least 2021, when Cox first started asking about EVs. […]

“We thought we could build a million of them and sell them,” Paul LaRochelle, vice president at Sheehy Auto Stores, a chain of dealerships in the Washington D.C. area, told the Journal.

But his dealerships have a six- to 12-month supply of electric vehicles, and only a month’s worth of gasoline-powered cars and trucks.

Oh no! Canada faces declining EV interest, report shows, despite push to boost sales

Riding Mass Transit Is Like Inviting 30 Random Hitchhikers Into Your Car

And then the car won’t start.

Toronto’s disastrous public transit project known as the Eglinton Crosstown LRT stands as a warning to other cities across Canada to run screaming in the other direction when any politician at any level of government tries to sell you on the joys of so-called light rail transit.

Toronto’s disastrous public transit project known as the Eglinton Crosstown LRT stands as a warning to other cities across Canada to run screaming in the other direction when any politician at any level of government tries to sell you on the joys of so-called light rail transit.[…]

Greenhouse gas emissions would be drastically reduced, we were assured, as thousands of commuters would happily abandon their cars for the convenience of whisking along the designated route of the LRT, free of the city’s chronic traffic congestion and gridlock.

Reality turned out to be years of increased congestion and gridlock at major intersections as construction of the LRT divided the city in half, with those living and working south and north of Eglinton Ave. — a major east–west arterial road in Toronto — having to factor in dramatically increased travel times just to cross Eglinton.

Numerous small businesses along the route folded as the construction choked off access to their customers, combined with the additional financial burden of the pandemic.

Halt construction, park the railcars and convert the mess directly to tent city for homeless druggies and thereby skip the painful middle stage during which innocent commuters are exposed to the risks.

If Women Ran The World

Via Instapundit;

The feminization of higher ed — and of American society as a whole — is a large topic. Here I want simply to note that the repellent jelly of moral confusion that united all three responses was saturated by that feminization. None of those women could give a direct answer to a direct question about a matter of grave moral moment. Instead, they temporized, equivocated, dodged and parried.

More: Claudine Gay first came to my attention about a month ago, when she emerged as the central figure in the Ryan Enos data fabrication scandal, as documented in these 3 articles…

Harvard is holding a board meeting today.

Update:

@realchrisrufo EXCLUSIVE: @RealChrisBrunet and I have obtained documentation demonstrating that Harvard President Claudine Gay plagiarized multiple sections of her Ph.D. thesis, violating Harvard’s policies on academic integrity.

Yes, it would appear so.

Blacking Out The Economy

How are things looking in the land of “nationalize the mines, banks and monopoly industry” these days? Not so good, apparently. But if it’s any consolation for South Africans, Canada’s Liberal government is actively seeking to push us in the direction of  “national blackout” as well.

Yelland said many people, including his family in Craighall Park, are experiencing 12 hours of load-shedding daily.

“If you look at the NRS048-9 specifications, they are consistent with stage 8 load-shedding. It is not stage 6 load-shedding,” Yelland said.

Jordaan added that Eskom’s latest performance and power data confirmed that Black Friday, which took place on 24 November, almost became “national blackout Friday”.

Y2Kyoto: Shut Up And Eat Your Bugs

Daily Caller;

The United Nations (UN) climate summit, known as COP28, featured a Tuesday discussion on sustainable yachting.

The discussion centered on finding “a variety of technical solutions developed to make the yachting experience more responsible and sustainable,” according to its official COP28 website. The event, titled “Responsible Yachting. Today & Tomorrow,” was moderated by Nico Rosberg, a yacht-owning former race car driver, and organized by Sunreef Yacht, a company that builds custom yachts and luxury vessels.

The discussion also included “a conversation about electric, hybrid and hydrogen propulsion, battery technology, plant-based composites, bottom paints, modern photovoltaics, sustainable interior finishing, water management, energy management (and) air conditioning,” according to the event’s COP28 website.

Polling for Dollars

It shouldn’t surprise anyone who financed this opinion poll. The questions are absolutely geared to reinforce the prevailing narrative. It’s not much different from “elections” in the Soviet Union in which the communist party candidate would get 98% of the votes.

92% of Canadians agree they feel confident in the food safety and animal welfare standards used in dairy, chicken, turkey and egg farming in Canada because of supply management. 94% of Canadians also prefer their dairy, eggs, chicken, and turkey products to be produced locally and in Canada under supply management.

The Fruits of Post-Modern Education

Several media outlets are currently running stories regarding the continuing lackluster performance of Canadian students in the field of math, but only a few can articulate the actual reasons why the problem is getting worse instead of better.

International math test scores from the OECD show a steady decline among 15-year-old Canadian students from 2003 to 2018.

To explain away the documented deterioration of math education, those responsible have employed two strategies. The first, undertaken by staff at the Toronto District School Board’s math department (among others) has been to denounce standardized tests as a manifestation of racial bias and white privilege. It is a bizarre claim, a clear grasping at straws. The second is to hide the decline of educational quality with grade inflation, which has now reached stratospheric levels.

Whathisname’s Britain

Where the foxes caper unmolested, the government packs your school lunch and the British remember what they used before candles.

People are being encouraged to make sure they have emergency supplies at home to help them cope in the event of extended power cut

People must buy battery-powered radios, torches and candles to boost their “personal resilience” in the event of a national crisis wiping out digital network or power supplies, the government has said.

Oliver Dowden, the deputy prime minister, has given the first of what will be an annual update to MPs on the government’s national risk and resilience strategy.

Guidance to be issued next year will help people to prepare for different emergencies.

He said that members of the public needed to be more “personally resilient” as he suggested they have become too reliant on devices powered by the internet.

A new “resilience website” will contain advice on how people can ensure they are prepared for being left without power for the gadgets they rely on.

Housing Micromanagement

I often wonder if conservative parties are all that different from their opposition. Witholding federal funding in order to browbeat civic governments into changing their housing policies to meet arbitrary targets sounds a lot like central planning. You could just drop federal housing subsidies altogether, repeal federal building codes and put an end to zero percent interest rates, but someone clearly thinks that this won’t buy enough votes.

Require big, unaffordable cities to build more homes and speed up the rate at which they build homes every year to meet our housing targets. Cities must increase the number of homes built by 15% each year and then 15% on top of the previous target every single year (it compounds). If targets are missed, cities will have to catch up in the following years and build even more homes, or a percentage of their federal funding will be withheld, equivalent to the percentage they missed their target by.

Revolutionary Slush Fund

Details are now emerging regarding Google’s decision to pay protection money to the federal government. In something that seems to have come straight out of Atlas Shrugged, only media outlets who are part of a “collective” can get a piece of the action.

Google agreed to provide newsrooms with up to $100 million each year, indexed to inflation, in exchange for an exemption from the law. The company will negotiate those payments through a single collective bargaining group, which will operate much like a media fund.

St-Onge said the law allows any eligible media to join the collective, which could include newspapers and broadcasters, as well as French-language and Indigenous news organizations.

I imagine that Rebel News won’t be eligible or otherwise will never get a dime, but they’re just counter-revolutionaries anyway.

Gradually, Then Suddenly

As a once-loyal client, I can attest to the fact that Royal Bank customer service has gone to shit, and recent interactions at TD even worse.

With many street-facing branch staff both communicatively handicapped (English as a recent language), limited in their authorities, and apparently without access to more capable supervisor support — what reason is there to believe such a system breeds competency at higher corporate levels?

Three of Canada’s biggest lenders posted quarterly earnings on Thursday, and as was the case at Scotiabank earlier in the week, they’re all putting a lot more money aside to cover loans that might go bad.

Royal Bank, TD Bank and CIBC revealed their financial results to investors before stock markets opened on Thursday, and while all three remain very profitable, they all showed a sharp uptick in the amount of money they’re setting aside to cover bad loans, a closely watched banking metric known as provisions for credit losses.

At Royal Bank, Canada’s biggest lender set aside $720 million to cover loans that either aren’t currently being paid back as planned, or the bank is worried might soon be. That figure is up by 89 per cent from $381 million a year ago.

At TD, the bank set aside $878 million in provisions, an increase of 42 per cent from $617 million this time last year.

But I’m just the customer. If you work on the front lines at a financial institution, tell me what you know.

That Sinking Feeling

Since GDP simply adds up all borrowing and spending in the economy, no matter whether undertaken by governments or the private sector and with no regard for what the money was spent on, it’s quite a feat to get a negative GDP number. Nonetheless, Canada seems to have done just that.

Statistics Canada reported on Nov. 30 that third-quarter GDP contracted 1.1 per cent, compared with expectations of 0.1 per cent growth, according to Bloomberg.

What’s truly remarkable is that the decline in GDP has occurred in an environment where borrowing and spending by all levels of government has risen exponentially in recent years. That can only mean that private sector spending must be cratering in order to have an overall decline. And if you’ve had to pay $50 for breakfast for two as I did recently, you can imagine just how tapped out the marginal consumer must be.

 

Going Bwoke

Investments in trendy ‘ESG’ assets collapsed by $5 trillion in just two years…

In its biannual assessment, the Global Sustainable Investment Alliance (GSIA) said on Wednesday that investors had $30.3 trillion in sustainable assets in 2022, down from $35.3 trillion in 2020.

In the US, where Republicans have railed against ESG funds, which push for environmental, social, and governance benefits, such assets plunged from more than $17 trillion to just $8.4 trillion over the same period.
[…]

A recent Bloomberg survey showed that investors expect the downturn to continue into 2024, with the negative sentiment extending to Tesla and other electric carmakers.

‘Sustainable bonds make for bad investments when they actually meet the radical left’s definition of sustainable, and when they don’t, Wall Street greenwashes them to justify the higher fees they charge for selling them,’ added Hild.

‘It’s a scam on investors either way.’

Related: Yesterday, America First Legal (AFL), together with co-counsel Boyden Gray PLLC and Lawson Huck Gonzalez PLLC, filed an amended complaint in its lawsuit against Target Corporation and its Board of Directors. The lawsuit is brought on behalf of a group of shareholders for Target’s misleading representations about its Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) mandates that betrayed Target’s customers and shareholders and caused investors to lose billions of dollars.

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