“We’re not talking about shutting down society here.”
– Dr. Bonnie Henry (BC Provincial Health Officer), March 13, 2020
Today is the anniversary of @DrBonnieHenry famous words: "We're not talking about shutting down society here." #bcpoli #coronavirus #covid19 pic.twitter.com/Jt9l2vBq3O
— theBreaker.news (@theBreakerNews) March 13, 2021
h/t Chris
Whitecap Resources is moving along with its plans for a “carbon hub” connecting five Regina and Moose Jaw industrial CO2 emitting companies to the Weyburn Unit. This will entail a substantial CO2 pipeline from that area to Weyburn. An engineering firm has been chosen to do the front-end engineering and design.
Financial Post- Canadians’ interest payments are growing at a record pace
Canadians are now paying 45 per cent more interest than they were a year ago, the fastest increase in records going back to 1990, Statistics Canada said on March 13.
Interest payments totalling $33.2 billion rose 14.1 per cent from the quarter before, surpassing the record increase set in the third quarter.
Nor is there any relief on the horizon. With interest rates likely to remain higher for longer, debt servicing costs are expect to continue rising and not peak until the second half of 2024, said TD economist Ksenia Bushmeneva.
Biden’s America: The Silicon Valley bank collapse. Dr. Fauci loses it. Call them leftists not liberals. The failing New York Times. Some FBI secrets. Old Joe has a hard time getting up in the morning. Senor Biden’s open border policy. Is it racism or frustration? The Dominion lawsuit against Fox News. Your morning meme.
The Chinese Colony Of Canada: Don’t upset the alphabet people in Calgary (Warning: CBC propaganda link). The child sex change experiments. Did China buy Trudeau’s riding? Today Climate Justin burns jet fuel to Nova Scotia for some great photo ops. Can’t afford to eat or heat your home? Well at least you can join a non-binary sports team. Fun at the Juno Awards. Canada needs new taxes.
Today In Islam: Diversity is our strength in France. And Islamophobia is running rampant in diverse Toronto.
Tonight we zoom back to 1979 to watch what I believe to be a fairly famous concert: Cheap Trick @ Budokan, Japan. More about the significance of this concert can be found here.
Your most significant recent news tips are definitely appreciated!
Wall Street Journal- KPMG Gave SVB, Signature Bank Clean Bill of Health Weeks Before Collapse
h/t Scott
The Telegraph- ‘Fitting a heat pump has been an expensive waste of time’
Armstrong Economics- The Banking Crisis is Global – Not Confined to the USA
This is a warning to all small banks. Understand the REAL trend or you will NOT survive. Major capital is fleeing the long-term and rising into the short-term because they see rates are rising and any long-term bond investment during a period of war is going to be a major losing trade. Do not get trapped by the yield curve and understand that this trend is in play into 2025.
Armstrong Economics- The Unfolding Bank Crisis
I will offer this recommendation (publicly) for my ear is turning red from all the phone calls. As for the Biden Administration, if they DO NOT heed my warning, our forecast will be devastating. The Biden Administration MUST stand behind ALL deposits – not the $250,000 FDIC limit. If they do not, small businesses will pul; excess cash from banks, switch to 30-day T-Bills at a brokerage house, and say screw the FDIC and the Biden Administration’s anti-rich (small business which employs 70% of the workforce).
Canada is in the best of hands…
*Update: More than 30 banks have been placed under trading halts.
The fraction of Alberta’s wind power generation capacity put out on Saturday, March 11.
Victor Davis Hanson on the madness of Joe Biden.
Biden’s America: Leave the kids alone. An apology from Naomi Wolf. The Biden administration. Your morning meme.
Global Warming Scam News: Eco-terrorists are at it again. Iraq fights climate change. And Greta’s predictions.
Pervert News: A furious mother. The Hollywood perverts.
Woke Britain: Old white men. Teaching the Quran. A UK teacher is still hiding from diversity.
The Chinese Colony Of Canada: A Moncton drag show. Make Alberta gay again. The suicide law. Our Dear Leader is still in Montreal. Today Trudeau celebrates global warming scams. The retirement outlook is bleak. China’s Liberal Party. People that oppose Justin are racist.
Among the Judge’s supposedly harmful and traumatising views are his belief that dysmorphic men and autogynephile perverts should not venture into ladies’ toilets and changing rooms, and a refusal to use the preferred pronouns of a transgender sex offender, an enthusiast of pornography featuring children.
This evening we present a concert compilation of The Eagles in the 1970’s.
If you have any interesting tips, please do share them!
Why Were The Victorians Terrified Of Flies?
Interesting news today. Here’s the WSJ Editorial Board’s take:
The Treasury and Federal Reserve stepped in late Sunday to contain the financial damage from Friday’s closure of Silicon Valley Bank, guaranteeing even uninsured deposits and offering loans to other banks so they don’t have to take losses on their fixed-income assets.
This is a de facto bailout of the banking system, even as regulators and Biden officials have been telling us that the economy is great and there was nothing to worry about. The unpleasant truth—which Washington will never admit—is that SVB’s failure is the bill coming due for years of monetary and regulatory mistakes.
Wall Street and Silicon Valley were in full panic over the weekend demanding that the Treasury and Fed intervene to save the day. It’s revealing to see who can keep a cool head in a crisis—and it wasn’t billionaire hedge-fund operator Bill Ackman or venture investor David Sacks, both frantic panic spreaders.
Without a doubt, the collapse of Silicon Valley Bank will be a cue for every Keynesian on earth to pound the table and call for more regulation, as if too much freedom is what causes businesses to go bust. As economist Daniel Lacalle points out, SVB did exactly what banks had been told to do post 2008. Its collapse was the result.
SVB was the poster boy of banking management by the book. They followed a conservative policy of adding the safest assets -long-dated Treasury bills- as deposits soared.
SVB did exactly what those that blamed the 2008 crisis on “de-regulation” recommended. SVB was a boring and conservative bank that invested the rising deposits in sovereign bonds and mortgage-backed securities and believed that inflation was transitory as everyone except us, the crazy minority, repeated.
SVB did nothing but follow regulation and monetary policy incentives and Keynesian economists’ recommendations point by point. SVB was the epitome of mainstream economic thinking. And mainstream killed the tech star.
So, if you didn’t see this news come out on Friday, because all horrible news is released on Friday, the Trans Mountain Pipeline just went up something like 44 per cent in cost. That’ll be paid for by us, by the way. The cost is now $30.9 billion. But wait! In 2013, Kinder Morgan figured they could build it for $6.8 billion. The current cost is only 4.5x what Kinder Morgan had planned.
Is it any wonder why ExxonMobil is walking away from longstanding, but never used offshore oil and gas leases off the BC coast? Any guesses why a company would walk away from a major oil and gas project in BC?
By the way, this clip from the first season of The West Wing is the absolute best nugget of political knowledge you can sum up in one minute (the first minute of this clip). Fridays are “Take out the Trash Day.”
A similar thing happened the Friday of the Family Day long weekend, when the feds released their just transition plan. Watch for upcoming stories on that.
Don’t believe me. Listen to her tell you in her own words.