GOV/MIL Main "Great Reset" Thread

marsh

On TB every waking moment

FACT SHEET: President Biden Announces New Actions to Address Putin’s Price Hike, Make Food More Affordable, and Lower Costs for Farmers​

MAY 11, 2022•STATEMENTS AND RELEASES

Pandemic-related supply chain disruptions and Putin’s Price Hike are increasing the price of food for working families here at home and leading to shortages of food in countries across the globe. Today, President Biden will visit a family farm to announce actions his administration is taking to support American farmers, reduce food prices, and feed the world.

Putin’s unjustified invasion of Ukraine has cut off a critical source of wheat, corn, barley, oilseeds, and cooking oil. It has also disrupted global supply chains for fertilizer, which farmers depend on to maximize yields. These and other actions, combined with the ongoing pandemic-related disruptions to global supply chains, have put pressure on food prices, with global food prices increasing nearly 13 percent following Putin’s invasion.

America’s farmers are the breadbasket of democracy and are already playing a critical role in the fight against Putin’s Price Hike. During President Biden’s first year in office, American agricultural exports shattered all previous records, reaching a combined $177 billion, generating an estimated $378 billion in total economic output, and supporting 1.3 million jobs here in the United States.

Last month, the President mobilized American farmers to fuel America when he announced that his Administration would allow E15 gasoline—gasoline that uses a 15 percent ethanol blend—to be sold this summer. Today, the President is announcing new actions to give farmers the tools and resources they need to boost production, lower food prices and feed the world. As the world’s second largest exporter of wheat and soybeans, these actions will help grow new markets for American-grown food, supporting jobs in rural communities across America. Specifically, the Biden-Harris Administration will:
  • Increase the number of counties eligible for double cropping insurance. Double cropping allows farmers to plant a second crop on the same land in the same year, helping boost production without relying on farmers to substitute crops or cultivate new land. But it is not free from risk and some farmers who practice double cropping cannot obtain crop insurance. The Biden-Harris Administration is seeking to expand insurance for double cropping to as many as 681 additional counties, bringing the total number of counties where this practice qualifies for crop insurance to as many as 1,935, so more American farmers have the financial security they need to start or expand double cropping.
  • Cut costs for farmers by increasing technical assistance for technology-driven “precision agriculture” and other nutrient management tools. Precision agriculture is a farm management system that allows farmers to use technology to target application of inputs to soil and plant needs, resulting in less fertilizer usage without reducing yields, saving farmers money over time and extending the usefulness of critical products in short supply worldwide. The U.S. Department of Agriculture has planning and cost sharing assistance programs available to help American farmers with nutrient management. The Biden-Harris Administration is working to boost outreach to farmers, streamline the application process, and prioritize application approvals to expand access to these critical programs.
  • Double funding for domestic fertilizer production. Fertilizer prices have more than doubled since last year, due in part to supply chain disruptions created and exacerbated by Russia’s invasion of Ukraine, including rising energy costs. Today, President Biden is announcing that he is doubling his initial $250 million investment in domestic fertilizer production to $500 million to lower costs and boost availability for farmers, so they can obtain the inputs they need at prices they can afford to maximize yields.
(COMMENT: Most of the fertilizer cost spikes were due to natural gas price increases and transportation.)
 
Last edited:

marsh

On TB every waking moment

U.S. Approves Nearly All Tech Exports to China, Data Shows​


Critics say the Commerce Department-led export-controls process needs an urgent overhaul, while others say the U.S. needs allies on board first
Kate O'Keeffe

Aug. 16, 2022 5:30 am ET

The U.S. has identified intensifying technological competition with China as a top national-security threat. But a Commerce Department-led process that reviews U.S. tech exports to the country approves almost all requests and has overseen an increase in sales of some particularly important technologies, according to an analysis of trade data.

Of the U.S.’s total $125 billion in exports to China in 2020, officials required a license for less than half a percent, Commerce Department data shows. Of that fraction, the agency approved 94%, or 2,652, applications for technology exports to China. The figures omit applications “returned without action,” meaning their outcomes were uncertain.

The result: The U.S. continues to send to China an array of semiconductors, aerospace components, artificial-intelligence technology and other items that could be used to advance Beijing’s military interests.

The Commerce Department says it is focused on long-term, strategic competition with China and that it makes export-control decisions with its interagency partners in the Defense, State and Energy Departments.

Critics say Commerce officials are improperly giving priority to U.S. commercial interests over national security and that an urgent regulatory revamp is necessary to respond to the threat from Beijing.

For Steve Coonen, the Pentagon’s former top China export-controls analyst, the high rate of approvals for licenses to sell tech with potential military use is evidence of significant policy failure.

8f1da4a26c2831293848962304066d42b102760c.png


“I have no problem trading with or feeding China,” Mr. Coonen told colleagues in a September 2021 email after resigning over frustrations with the policy. “I have a huge problem with arming China.” A Pentagon spokeswoman declined to comment on Mr. Coonen’s resignation.

The U.S. export-controls process, long a niche topic, is now at the center of a debate over how much the U.S. should continue to trade with its most powerful adversary, dozens of current and former U.S. officials said in interviews with The Wall Street Journal.

“I do believe China’s the greatest threat we face,” said Mira Ricardel,
a former Trump administration Commerce official in charge of export controls.

“What we don’t have is a consensus in the U.S. government on what the relationship should be economically,” she said. “There are people who are like ‘No, no, no, we can’t send China anything,’ but that’s not the policy,” she said, referring to technology exports.

Some warn tighter restrictions on U.S. tech sales to China will backfire because allies such as Germany, Japan and South Korea will step in to fill the void. For export restrictions to be effective, “we need our allies to have the same controls,” said Kevin Wolf, a senior Commerce official during the Obama administration, while testifying on Capitol Hill last year. “It is that simple and logical.”

Such coordination, however, could take years, and others argue that China’s official military-civil fusion policy—which seeks to erase the distinctions between the military and the private sector—requires an immediate response, because it has made it impossible for the U.S. to guarantee tech transferred to China won’t end up in military hands.

Some question the role of the Commerce Department, the U.S.’s lead agency on the issue. Matt Pottinger, former President Donald Trump[/URL]’s deputy national-security adviser, said the agency’s export-controls unit, called the Bureau of Industry and Security, “has struggled to reconcile its mission to protect U.S. national security with the Commerce Department’s objective of promoting U.S. exports. The dilemma is most acute when it comes to China.”

In late 2019, Mr. Pottinger gathered BIS officials for a special meeting in the White House Situation Room and accused them of working against administration policy on China in favor of helping U.S. businesses, according to people familiar with the matter. Mr. Pottinger acknowledged the episode, which ultimately failed to change attitudes within the unit, the people said.

Thea D. Rozman Kendler, assistant secretary of Commerce for export administration, denied the assertion. “We are promoting U.S. technological leadership. And in order to do that we need to understand U.S. technological leadership,” she said. “The best place to get that information is from industry.”

Advocates of stronger U.S. export controls also criticized successive White House administrations and the other members of the interagency process, whom they said often provide ineffective input.

Ms. Kendler said its interagency partners at the Defense, State and Energy Departments are welcome to appeal matters to higher authorities if they are unhappy. Of the more than 41,000 license applications BIS processed in fiscal year 2021, she said only 57 were escalated multiple times.

Spokespeople for the National Security Council, the Pentagon and Energy Department expressed support for the export-controls process, describing it as crucial to protecting national security. The State Department didn’t respond to requests for comment.

In 2018 Congress passed the Export Control Reform Act requiring the Commerce Department to tighten controls on emerging and foundational technologies such as artificial intelligence and quantum computing, but critics said progress has been slow.

Commerce also no longer controls more established technologies such as some semiconductor-equipment manufacturing tools, which are critical to making chips for both military and civilian use. Chinese trade data, compiled by the United Nations, shows imports of such equipment from the U.S. rose to $6.9 billion in 2021, up from $2.6 billion in 2017.

Following an industry lobbying campaign, “we don’t need any licenses as we sit here today to sell anything in China,” the chief financial officer of U.S. chip toolmaker Lam Research told an investor conference in September 2020.

Ms. Kendler, the Commerce official, declined to discuss criticisms of the way it treats specific companies but said the agency has been “aggressively focused on reorienting” its policies on both China and Russia.

Some worry about what they describe as the porous nature of Commerce Department moves to restrict specific Chinese companies. Kharon, a Washington, D.C.-based research and data-analytics firm, said it has identified tens of thousands of Chinese entities that may meet the U.S. criteria for military end-user export restrictions, even though there are only roughly 70 on the Commerce Department’s current list.

And the agency’s list of restricted entities—often called an export blacklist—doesn’t block U.S. companies from selling to its members. It only requires them to apply for licenses, which are often granted.

Rep. Michael McCaul (R., Texas), the ranking Republican on the House Foreign Affairs Committee, who has been pushing for tighter controls, said the Commerce Department from Nov. 9, 2020, through April 20, 2021, issued more than $100 billion worth of export licenses to suppliers of blacklisted Chinese firms Huawei Technologies Co. and Semiconductor Manufacturing International Corp. The Commerce Department had added SMIC to the list after defense contractor James Mulvenon documented the chip maker’s military customers.

SMIC recently gained the capability to make 7-nanometer chips, its most advanced yet, according to researchers at Canadian firm TechInsights Inc. “This is a groundbreaking discovery because the U.S. Department of Commerce was supposed to be restricting export licenses,” wrote semiconductor analyst Dylan Patel.

SMIC didn’t return requests for comment. Huawei declined to comment.
Another problem, said former senior Commerce official Nazak Nikakhtar, is that once a license is issued, the U.S. has little ability to ensure the technology won’t be diverted because the Chinese government doesn’t allow proper inspections.

In some cases, U.S. companies are able to sell technology to Chinese customers on the entity list without even applying for licenses, according to the regulations.

Chinese artificial-intelligence giant SenseTime told Hong Kong regulators last year that because a U.S. entity listing only identified one of its units, the measure wouldn’t have “any material adverse impact.” Surveillance research firm IPVM highlighted the issue in a September 2021 post, but BIS hasn’t tightened the restriction. SenseTime didn’t respond to requests for comment.

U.S. companies can also often freely sell technology to entity-listed companies in China by producing the goods in overseas factories, the rules say.
 
Last edited:

marsh

On TB every waking moment

Boston seeks to ban fossil fuels in new buildings​

yesterday

BOSTON (AP) — Boston is seeking to ban fossil fuels from new building projects and major renovations, Mayor Michelle Wu announced Tuesday.

The Democrat said the state’s largest city will take advantage of a key provision in the climate change bill signed into law by Republican Gov. Charlie Baker last week.

That legislation, which is meant to bring the state closer to net-zero greenhouse gas emissions by 2050, calls for a pilot project allowing 10 Massachusetts cities and towns to require new building projects be all-electric, with the exception of life sciences labs and health care facilities.

Wu said the city will file a home rule petition with the state Legislature to join the pilot.

“Boston must lead by taking every possible step for climate action,” she said in a statement. “Boston’s participation will help deliver healthy, energy efficient spaces that save our residents and businesses on utilities costs and create local green jobs that will fuel our economy for decades.”

Wu’s office said natural gas, oil and other fossil fuels used in buildings represent more than one-third of the city’s greenhouse gas emissions.
New York, Washington, D.C., and Seattle are among the major U.S. municipalities that have enacted similar bans, The Boston Globe reports.
 

Old Greek

Veteran Member

Boston seeks to ban fossil fuels in new buildings​

yesterday

BOSTON (AP) — Boston is seeking to ban fossil fuels from new building projects and major renovations, Mayor Michelle Wu announced Tuesday.

The Democrat said the state’s largest city will take advantage of a key provision in the climate change bill signed into law by Republican Gov. Charlie Baker last week.

That legislation, which is meant to bring the state closer to net-zero greenhouse gas emissions by 2050, calls for a pilot project allowing 10 Massachusetts cities and towns to require new building projects be all-electric, with the exception of life sciences labs and health care facilities.

Wu said the city will file a home rule petition with the state Legislature to join the pilot.

“Boston must lead by taking every possible step for climate action,” she said in a statement. “Boston’s participation will help deliver healthy, energy efficient spaces that save our residents and businesses on utilities costs and create local green jobs that will fuel our economy for decades.”

Wu’s office said natural gas, oil and other fossil fuels used in buildings represent more than one-third of the city’s greenhouse gas emissions.
New York, Washington, D.C., and Seattle are among the major U.S. municipalities that have enacted similar bans, The Boston Globe reports.
Just move!!
 

marsh

On TB every waking moment

August 16, 2022

We Win, They Lose. That Simple.​

By J.B. Shurk

Exciting times. A dangerous but exhilarating moment in history to be alive.

The ground beneath us quakes, and everything once held certain seems turned to mush. Whatever we grasp for balance proves unsteady, too. The world is crashing down, it seems, and no countervailing force exists to keep everything in place.

When we accept this reality, when we look around and say, "Hey, what was will never be again," then the troubles around us become a little lighter to bear.

We are not here to fight for yesterday; we are here to fight for tomorrow.

Yesterday gives us guidance; tomorrow gives us purpose. Yet just because we fight for tomorrow does not mean we aren't also fighting for today. When you learn to punch, you're taught to aim beyond your target. You punch through what you mean to hit to maximize force and minimize pain to yourself. In the same way, we aim for the future in order to seize today. We picture together what type of future we want. We strive for that future with ferocity and perseverance. And one day we look around and realize that we've managed to build a remarkable world right here in the present. Nothing endures in this earthly existence but that cycle. It's what we do when challenges arise that matters. Those acts, fleeting though they may be, are our shared legacy to one another.

So look at the international communists' "Great Reset" or "Build Back Better" dystopias as inevitable if you want, but do so knowing that you're watching strikes being thrown into the catcher's mitt without ever swinging. Your mind and soul provide a powerful bat. Our enemies are throwing heat right down the center of the plate. And there has never been a better time to swing for the fences!

The globalists' programs for mass control of humanity have become glaringly obvious. They don't even hide their intentions anymore behind veiled language, secret club meetings, or slanderous aspersions against their critics.

They just say right out in the open, "Yep, we want to reduce the human population; control all energy used for commerce; regulate food production; censor all information antithetical to our goals; cynically divide humanity against itself by promoting meaningless wars, racial hostilities, and ludicrous social conflicts; and force the vast majority of the remaining humans in the future to survive as indentured servants who will own nothing and subsist on a diet of bugs." That is an ugly, depressing, awful future to advertise. Yet so overconfident are the Great Resetters in their control over emerging artificial intelligence technologies, central bank digital currencies, biological warfare, and mass surveillance that they say exactly what they plan to do.

So confident is the permanent D.C. bureaucracy in its abilities to control all Americans that it no longer disguises its two-tiered "justice" system or pretends it cares a whit about hard fought American freedom. Raiding the personal residence of political "outsider" President Trump to intimidate other prospective adversaries to Washington's corrupt Uniparty? Check. Murdering, hunting down, and imprisoning MAGA voters under the pretense of a bogus "insurrection" narrative supported by an equally corrupt news media and criminal "justice" system? Check. Hiring massive armies of IRS agents and other bureaucratic mercenaries to execute deadly force against American citizens while simultaneously cataloguing gun-owners in an ongoing effort to disarm the civilian population? Check. Using the "climate change" farce and fantasies of "systemic racism" to implement widespread political Marxism and economic redistribution of wealth indistinguishable from classic communism?

Check. Intentionally subverting immigration law to flood American communities with drugs, human-trafficking, slave labor, and social disintegration? Check. Manipulating elections with fraudulent mail-in ballots and scant identification requirements? Check. Printing and spending U.S. dollars until inflation and inevitable currency collapse destroy Americans' private wealth and leave them entirely dependent upon government-dispersed welfare? Check. Attacking religiously devout Christians as threats to the State? Check. Censorship of all dissenting opinion, confiscation of private property under the guise of tax and regulation authorities, Soviet show trials, and politically sanctioned professional demotions for anyone courageous enough to challenge the regime's power? Check, check, check, and check!
7_91_9.gif

Hubris. Absolute hubris. And we should love it. We couldn't ask for a better drug to cloud the judgment of our enemies. They're hooked, they can't see clearly, and they will not change now or in the foreseeable future. What they possess with hollow overconfidence, they lack in sober wisdom. They're drug addicts now, deluded in the supremacy of their own enduring power. These are dangerous people but people who are no longer grounded in any sense of reality. They think they control the quaking ground beneath their feet and believe that they alone will decide what stays in place. They see themselves as gods, and as with all false gods, their vanity will consume them.

Go back and find a time in history when hubris succeeded in subsuming the world to man's will. What conqueror has ever succeeded in holding total power for long? When has overbearing authority not produced an equal and opposite human force of organic rebellion? When has the lust for total global dominion not fractured into a million tiny pieces from the uncontrollable energies of once inconsequential humans yearning to be free? When has the desire for One World Government — that seductive enticement that grips the minds of unscrupulous men, much like Tolkien's "one ring to rule them all" — ever succeeded? Still waiting! The hunger for a global government where an aristocratic "elite" rules over everyone else has existed throughout human history, and just as with every misguided attempt to construct a perpetual motion machine or every alchemist effort to transform lead into gold, those who wish to rule humanity from the seat of an earthly throne always fail. They drown in the floods unleashed from their own magnificently destructive hubris. Show me a group of men who seek to rule the world, and I'll tell you the tale of their ultimate annihilation. That is the story of man's struggles in this life, and anyone too drunk with delusions of domination to know what's coming will pay the price.

President Ronald Reagan had a simple but effective plan for defeating communism and the Soviet Union: "we win; they lose." Once again, we fight communism today, except now we face it both on a global, "Great Reset" scale and up close and personal here at home. Reagan's plan still...holds...true! We win; they lose; that simple! Never underestimate simplicity. Simplicity is a rallying call and shield behind which hundreds of millions of strangers can instantly unite. Simplicity is one juicy, meaty pork chop of a fastball right over the heart of the plate. Simplicity is visualizing tomorrow, while punching through the internecine threats of today. Simplicity and common purpose are what combine to drive a final stake through the evil plots of men who sow division, spread harm, and feast on the miseries of others.

Exciting times. A dangerous yet exhilarating moment to be alive. If you look around with clarity of purpose, though, there is nothing to fear. That tingle in the air right now is normal. Great change is always electric. Use it.
 

marsh

On TB every waking moment

The Blackrock-Biden Admin: behemoth ESG mafia firm adds to White House roster​

From the White House to BlackRock and now back to the White House.​


Jordan Schachtel
Aug 15

BlackRock, the Wall St investment titan and ESG activist firm with some 10 trillion in assets under management, continues to find its way into the upper echelons of the Biden Administration.

The Dossier is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

For the uninitiated: BlackRock is the chief promulgator of the environmental, social, and corporate governance (ESG) movement in the financial world. If the World Economic Forum is the think tank and narrative shop of the global elite, BlackRock is the asset manager of this class. Notably, the two parties share the same goal in implementing the enviro authoritarianism scam popularized by WEF founder Klaus Schwab, which they refer to as “stakeholder capitalism.”

Essentially, BlackRock pretends to care about the environment, but the purpose of the ESG charade is to grow an anti-competitive economic mafia, and make it very difficult for financial institutions to move their money around in the economy without pledging an oath of fealty to Blackrock’s pseudo advocacy. If you don’t play Blackrock’s game, well, you will own nothing and you will be happy, as the saying goes.

Not being ESG compliant on Wall St is a death sentence for firms, so companies make sure to play along with Blackrock’s game and pretend that they too truly care about the environmental statist agenda. It’s one giant charade to make sure the same handful of firms stay atop the hierarchy.

BlackRock is a symptom of a broken financial system, and the pretend wokesters with a predatory business model unsurprisingly have maintained great relations with democrat administrations.

1660700957699.png
https://twitter.com/VivekGRamaswamy/status/1557840526807863296?s=20&t=_paScZKT9DHcJbB_GdYdYQ
The revolving door between Blackrock and the Biden Administration continues to spin faster and faster, as the White House has secured another major Blackrock employee onto its official roster.

Monday was the first day on the job for new Treasury Department official Erik Van Nostrand, who left BlackRock to join the administration. At BlackRock, Van Nostrand was a managing director for the company’s sustainable development program, running two “carbon transition” funds for the asset management behemoth. Before that, he was in the Obama White House as an economic adviser. Bloomberg reports that Van Nostrand will work as “a senior adviser on economic issues tied to Russia and Ukraine and will report to Ben Harris, assistant Secretary of Treasury for economic policy.”

The news comes as Ukraine has announced a soft default on its debt payments. In showcasing the power of BlackRock, which holds a significant percentage of Ukraine’s debt, the company reportedly had to sign off on the deal, which allowed Kiev to move forward with postponing tens of billions in debt payments to its foreign creditors..

Van Nostrand is hardly the only on-again, off-again BlackRock employee to maintain a senior role in the Biden Administration.
1660701091231.png1660701198708.png

Brian Deese, the former head of sustainability at BlackRock, now heads the Administration’s National Economic Council. It is an extremely influential position in D.C, as Deese is the point man for facilitating the economic decisions of the executive branch.

Mike Pyle, another former BlackRock managing director and former Obama adviser, is a senior economic adviser in the Biden Administration.

Adewale Adeyemo, the former chief of staff for BlackRock CEO Larry FInk, currently operates as the U.S. Deputy Secretary of the Treasury. He too is a revolving door staple. Adeyemo worked in the Obama Administration on its National Economic Council.

Twitter avatar for @Gritty20202 Gritty is the Way @Gritty20202
There should really be more reporting on the Biden-BlackRock merger.
Image
Image
Image

August 1st 2021

There is clearly very little separation between the White House and BlackRock, which in recent years, hired virtually the entirety of the Obama White House.
 

marsh

On TB every waking moment

Feds’ Routine Tyranny Suggests They Aren’t As Afraid Of The American People As They Should Be​

BY: J.B. SHURK
AUGUST 16, 2022

Does the federal government still work for Americans, or have citizens become nothing more than subjects expected to obey Washington’s bureaucratic regime?

Alan Moore, author and social critic, asserts in “V for Vendetta” that “People shouldn’t be afraid of their government. Governments should be afraid of their people.” When a young director in Karachi, Pakistan, adapted “Vendetta” for a live theatrical performance 10 years ago, he repeated the line during the play’s curtain call to raucous applause from the audience. Moore’s simple words reflect poignantly the human desire to be free from government tyranny.

Moore’s statement is widely embraced in the United States, where “the people” are constitutionally vested with power over government. It is doubtful, however, that today’s permanent bureaucracy in Washington, D.C., would concur.

This philosophical divide between the American people and their government is an important one. Should the American people be afraid of the U.S. government? Of course not. Yet a new army of IRS agents that will be used to audit middle-class Americans and a partisan DOJ and FBI that routinely ignore leftist violence while throwing the book at MAGA voters strongly suggest otherwise.

Does the federal government still work for American citizens, or have American citizens become nothing more than subjects expected to obey Washington’s bureaucratic regime? For many Americans, the answer to that question is glaringly obvious.

After Chris Wray’s FBI launched an unprecedented raid of President Trump’s private residence at Mar-a-Lago on Aug. 8, the director’s immediate concern was not his agency’s appearance of impropriety but the denouncement of his lackeys’ behavior by the American public.

“I’m always concerned about threats to law enforcement,” Wray declared while saying nothing of threats to Americans from federal law enforcement. Who is more of a threat to American liberty: citizens using their constitutionally protected free speech to criticize the FBI or wayward FBI agents acting under the color of law?

Clearly, those with great power represent the greatest threat to freedom. For those such as Wray, who believe the FBI is the real victim, it is the citizen expressing himself who must be held accountable.

Wray’s decision to shield his agents from criticism while obliquely intimidating citizens is hardly a departure from the federal government’s standard operating procedure. Before the Democrats’ recent addition of 87,000 new prying IRS agents to hound American taxpayers, including the hiring of agents who will “carry a firearm and be willing to use deadly force,” Barack Obama’s IRS was already targeting and harassing conservative organizations.

Why should Americans expect a greatly expanded and well-armed IRS to behave any differently this time?

A similar abuse of power during Obama’s presidency occurred when his Environmental Protection Agency released “sensitive, private, and personal materials on more than 100,000 farmers and ranchers” to outside environmental groups in what was seen as an intentional effort to promote “eco-activist tyranny.”

It was not enough for the EPA to harass America’s farmers with endless agricultural, livestock, and water regulations; the agency decided to permit outside “help” to further its interests in enforcing “green” regulations.

Now that congressional Democrats have succeeded in finding a path for greatly expanding the Green New Deal “climate change” agenda, it is likely that the EPA’s harassment of farmers will continue in the future.

The FBI, the IRS, and the EPA are but three agencies with tremendous powers that can be used to intimidate or imperil Americans. There are more than 400 departments, agencies, and sub-agencies within the federal government, and “no one knows definitively how many agencies, components, and commissions exist.”

Each of these authorities is constantly issuing rules, regulations, and guidelines that affect Americans’ rights and liberties without their knowledge. Each of those bodies exercises jurisdiction over the American people in ways that most don’t even realize. Does this sound like a government afraid of its citizens or tyranny?
 

marsh

On TB every waking moment

U.S. NEWSCongressman: “Tyranny” Is Coming “Right Into Everyone’s Living Room Very Very Shortly”


“This is about intimidating anyone who refuses to bend the knee to the narrative”

GOP Pennsylvania Representative Scott Perry warned Sunday that everyday Americans should now plan for “tyranny” to enter their homes in the form of federal agents if they refuse to play nice with the authorities.

Perry, the House Freedom Caucus chair, revealed how the FBI recently seized his phone, just hours after the feds raided President Trump’s Mar-a-Lago complex.

“A day after the raid on the president’s home FBI agents showed up when I was traveling with my family, my wife and our two small children, my in-laws, extended family,” Perry stated in an appearance on Fox News.

Rep. Scott Perry talks about the FBI seizing his cellphone the day after the raid on Mar-a-Lago 3:32 min

The Congressman related how the feds “showed up and demanded my cell phone they said they were going to image it they were not going to search it and and then they eventually did return it.”

Perry, who sits on the House Foreign Affairs Committee, further declared to “have always supported law enforcement. I always have, we have revered the FBI, but this is an abuse of power.”

“There’s been no accountability,” Perry continued, explaining that “James Comey, the director of the FBI used classified information improperly to get a second special counsel, no, no, no accountability for that.”

“Whether it’s John Eastman, whether it’s Scott Perry, whether it’s President Trump, and with passing a bill that will pay for hiring of 87,000 IRS agents, tyranny is going to come right into everyone’s living room very, very shortly,” Perry proclaimed.

While the 87,000 figure is disputed, the Senate last week approved nearly $80 billion in IRS funding, with $45.6 billion for “enforcement”.

“This is about intimidating anyone who refuses to bend the knee to the narrative,” the Congressman further warned.

“This is an abuse of power,” Perry claimed, “and of course they’re using these taxes tactics to intimidate people to coerce people.”

Referring to Hillary Clinton, Perry said “People that BleachBit their their phones and hit him with hammers, smash them with hammers and those types of things have something to hide. People that keep the same phone a year and a half after the election aren’t worried about what’s on their phone, and so that’s me, but apparently they want to destroy me politically.”

“Anybody that doesn’t bend the knee, that isn’t intimidated, that isn’t parroting the narrative is now subject to these kind of third world Banana Republic tactics politically,” Perry stressed.

Elsewhere during the interview, Perry told viewers that “It should be pretty apparent to anybody that’s been alive for the past 5 years that the Biden family is completely compromised by the Communist Party of China.”

Rep. Scott Perry says the Bidens are "completely compromised by the Communist Party of China." 3:10 min
 

marsh

On TB every waking moment

by: VLADIMIR ISACHENKOV,
Posted: Aug 16, 2022 / 05:27 AM CDT

MOSCOW (AP) — Russian President Vladimir Putin accused the United States of trying to encourage extended hostilities in Ukraine as part of what he described Tuesday as Washington’s alleged efforts to maintain its global hegemony.

Addressing a security conference attended by military officials from Africa,, Asia and Latin America, Putin reaffirmed his long-held claim that he sent troops into Ukraine in response to Washington turning the country into an “anti-Russia” bulwark.

“They need conflicts to retain their hegemony,” Putin charged. “That’s why they have turned the Ukrainian people into cannon fodder. The situation in Ukraine shows that the United States is trying to drag the conflict out, and it acts in exactly the same way trying to fuel conflicts in Asia, Africa and Latin America.”

The speech represented the latest attempt by the Russian leader to rally support amid bruising Western sanctions that targeted the Russian economy and finance along with its government structures, top officials and businesses for Moscow’s action in Ukraine.

Putin also drew parallels between the U.S. backing Ukraine and a recent visit to Taiwan by U.S. House Speaker Nancy Pelosi, charging that both were part of an alleged American attempt to foment global instability.

“The American adventure in Taiwan wasn’t just a trip by an irresponsible politician. It was part of a deliberate and conscious U.S. strategy intended to destabilize the situation and create chaos in the region and the entire world, a blatant demonstration of disrespect for another country’ sovereignty and its own international obligations,” Putin said.

The Russian leader claimed that “Western globalist elites” were trying “to shift the blame for their own failures to Russia and China,” adding that “no matter how hard the beneficiaries of the current globalist model try to cling to it, it’s doomed.”

”The era of the unipolar world order is nearing its end,” he added.

Speaking at the same conference, Russian Defense Minister Sergei Shoigu charged that along with supplies of weapons to Ukraine, Western allies also have provided detailed intelligence information and deployed instructors to help the Ukrainian military operate the weapons systems.

“Western intelligence agencies not only have provided target coordinates for launching strikes, but Western specialists also have overseen the input of those data into weapons systems,” Shoigu said.

He dismissed allegations that Russia could potentially use nuclear or chemical weapons in the conflict as an “absolute lie.”

“From the military viewpoint, there is no need for using nuclear weapons in Ukraine to achieve the stated goals,” Shoigu said. “The main mission of the Russian nuclear forces is providing a deterrent against a nuclear attack.”

Shoigu added that the claims of a possible chemical attack by Russia were equally “absurd,” saying that Moscow fully liquidated its chemical weapons stockpiles in compliance with an international treaty banning chemical weapons.
 

marsh

On TB every waking moment

Former IRS Whistleblower Says Middle Class Americans Will Be Targeted Under Inflation Reduction Act

By Katabella Roberts August 16, 2022 Updated: August 16, 2022

A former Internal Revenue Service (IRS) whistleblower has said that the Democrats’ Inflation Reduction Act (IRA) will see the government target middle-income Americans with increased scrutiny and audits.

William Henck previously worked as a lawyer for the IRS for 20 years until 2017, when he was terminated for allegedly revealing sensitive information to the media about how the IRS had reportedly failed to identify a multi-billion-dollar corporate tax credit scheme involving a source of energy known as burning pulp byproducts, or black liquor.

Speaking to Fox Business, Henck disputed claims by the IRS and other officials who have said that increased funding for the agency under the IRA, which is set to be signed into law by President Joe Biden this week, would only lead to more audits for wealthy millionaires and billionaires and large corporations.

“The idea that they’re going to open things up and go after these big billionaires and large corporations is quite frankly [expletive],” Henck said in the interview on Aug. 15. “It’s not going to happen. They’re going to give themselves bonuses and promotions and really nice conferences.”

“The big corporations and the billionaires are probably sitting back laughing right now,” he said, adding that it was “insane” to double the IRS budget.

Henck also said he believes that the agency will go after businesses that don’t have enough money to hire Washington lobbyists.

‘Absolutely Not’ Being Used to Target Middle-Income Americans
The Democrat-controlled House passed the IRA in a strictly party-line vote on Aug. 12. It includes nearly $80 billion in IRS funding, including $45.6 billion for “enforcement.”

A Treasury Department report from May 2021 (pdf) estimated that such an investment would enable the agency to hire roughly 87,000 employees by 2031.

Amid mounting fears, the IRS has said it will “absolutely not” be using the extra money to increase audit scrutiny on small businesses or middle-income Americans.

IRS Commissioner Charles Rettig stated in a letter to members of the Senate on Aug. 4 that the extra resources will instead serve to help the agency in “challenging” areas such as audits of large corporate and global high-net-worth taxpayers.

“These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans,” Rettig wrote in the letter. “As we’ve been planning, our investment of these enforcement resources is designed around the Department of the Treasury’s directive that audit rates will not rise relative to recent years for households making under $400,000.”

Treasury Secretary Janet Yellen and White House press secretary Karine Jean-Pierre have also doubled down on their rhetoric regarding reports about the extra funding being utilized to target middle-income Americans, stating that there would be no new audits for individuals earning less than $400,000 per year.

Henck disagrees.

‘Unlimited Resources And No Accountability’
“There will be considerable incentive to basically to shake down taxpayers, and the advantage the IRS has is they have basically unlimited resources and no accountability, whereas a taxpayer has to weigh the cost of accountants, tax lawyers—fighting something in tax court,” he told Fox Business.

“If you own a roofing company, you better count on getting audited because that’s what they’re going to be doing,” he continued. “They’re going to be going after your car dealerships, roofing companies.”

Henck’s comments come after the nonpartisan Congressional Budget Office (CBO) found that working-class Americans will end up paying billions of dollars in new taxes thanks to the IRA.

Republicans on the House Ways and Means Committee said on Aug. 12 that they had received the information from the CBO confirming that under the new legislation, lower- and middle-income Americans will pay an estimated $20 billion more in taxes over the next decade.

This confirms that “at least $20 billion of the $124 billion in new revenue expected by a supercharged IRS will be coming from higher audits on low- and middle-income Americans” and that this would be “in addition to existing audits on these income levels,” GOP lawmakers said in a statement.

The Epoch Times has not received a response for comment from the CBO.
 

marsh

On TB every waking moment

14 FBI Whistleblowers Have Come Forward: Rep. Jordan

By Jack Phillips August 15, 2022 Updated: August 16, 2022

Fourteen FBI whistleblowers have come forward to provide information to Republican congressional investigations, Rep. Jim Jordan (R-Ohio) said on Aug. 14, about a week after the FBI raided former President Donald Trump’s Florida home.

“Fourteen FBI agents have come to our office as whistleblowers, and they are good people,” Jordan told Fox News. “There are lots of good people in the FBI. It’s the top that is the problem.”

“Some of these good agents are coming to us, telling us … what’s going on—the political nature now of the Justice Department … talking about the school board issue, about a whole host of issues,” he added.

Two months ago, Jordan said that six FBI whistleblowers approached the committee. Two came forward about a memo related to alleged violence and intimidation at school board meetings and four in connection to the Jan. 6, 2021, Capitol breach. In the Senate, meanwhile, Sen. Chuck Grassley (R-Iowa) said in July that whistleblowers had come to his office to provide information, including disclosures relating to investigations into Hunter Biden’s overseas business dealings.

“It’s becoming a well-worn trail of agents who say this has got to stop, and thank goodness for them and that American people recognize it, and I believe they’re going to make a big change on Nov. 8,” Jordan said, referring to the midterm elections.

In June, Jordan sent a letter to FBI Director Christopher Wray warning that several former FBI officials were coming forward, while alleging the agency is “purging” employees who have conservative views.

“In one such example, the FBI targeted and suspended the security clearance of a retired war servicemember who had disclosed personal views that the FBI was not being entirely forthcoming about the events of January 6,” Jordan wrote in a statement. “The FBI questioned the whistleblower’s allegiance to the United States despite the fact that the whistleblower honorably served in the United States military for several years—including deployments in Kuwait and Iraq—valiantly earning multiple military commendation medals.”

It comes as Republicans stepped up calls on Aug. 14 for the release of an FBI affidavit showing the justification for its seizure of documents at Trump’s Mar-a-Lago home.

A search warrant released on Aug. 12 after the unprecedented raid on Aug. 8 showed that Trump allegedly had 11 sets of classified documents at his home. The Justice Department also claimed to have had probable cause to conduct the search based on possible Espionage Act and obstruction of justice violations.

Republicans are calling for the disclosure of more detailed information that persuaded a federal judge to issue the search warrant, which may show sources of information and details about the nature of the documents and other classified information.

Reuters contributed to this report
 

marsh

On TB every waking moment

Toyota And World's Top Battery Maker Halt Factories In China Amid Drought-Induced Power Crisis

TUESDAY, AUG 16, 2022 - 06:31 PM

Update (2130ET): Add Toyota Motor Corp. and Contemporary Amperex Technology Co., the world's largest battery maker, to the growing list of companies shutting down factories in China's Sichuan province as a drought-induced power crisis worsens, according to Bloomberg.

Toyota closed its plant in the provincial capital of Chengdu until Saturday, a company spokesperson said, while Contemporary Amperex halted operations at its lithium battery factory in Yibin.

Sichuan is one of China's most populated provinces, with 80 million inhabitants, and is home to a major manufacturing hub heavily reliant on hydropower.

However, a heatwave and drought have caused reservoir levels to drop, resulting in declining power generation and forcing local authorities to ration power for factories.

The shutdowns add to a growing number in industries stemming from solar panels to aluminum smelting. Volkswagen AG said on Monday that its factory in Chengdu is affected by power shortages, but that it was only expecting slight delays in deliveries to customers. Foxconn Technology Co. also makes Apple iPads in the province, but said it was seeing only limited impact from the drought so far. -Bloomberg

The drought-induced power crisis is another excuse Beijing can use to explain why its economy falters.

* * *
China's worst heatwave in decades is curbing hydropower generation in one of the country's most populous provinces. Local authorities requested some factories in southwestern China to halt production to conserve electricity, adding to the financial pressures of an already rapidly slowing economy.

Workers at a factory in Chongqing last month. (AFP/Getty Images)
Sichuan province has more than 80 million inhabitants and is home to a major manufacturing hub. The Washington Post said some factories had suspended production on request by the government due to high temperatures and drought, leading to declining water flows through local hydropower reservoirs.

Jin Xiandong, a spokesman for the National Development and Reform Commission, said on Tuesday that China has to increase coal-fired power output because of waning hydropower output.

China's inland Sichuan province is a major manufacturing hub that produces consumer goods from electronics, furniture, and food. Also, it's home to the world's largest crystalline silicon solar cell producer.

China Securities Journal said Foxconn's plant in Sichuan that produces Apple products, such as iPads and Macs, wouldn't be significantly impacted by power rationings.

The province is highly dependent on hydropower, and high temperatures that could last through the end of this month might indicate more power restrictions for manufacturing plants.

Fu Linghui, China's National Bureau of Statistics spokesman, said the heatwave has sparked "adverse effects on economic operations," adding that the economic recovery "has slowed down marginally."

On Sunday, we noted that China's central bank unexpectedly cut its key interest rates in a feeble attempt to prop up the failing economy weighed by Covid lockdowns, property downturn, and a crippling heatwave. The cut comes after July's economic data was awful, pointing to an economic slowdown gaining momentum.

Further power cuts in Sichuan will result in more production suspension and dampen the country's souring economic outlook.
 

marsh

On TB every waking moment

Record Number Of Homebuyers Walk Away From Contracts As Builders Reel Amid Glut Of Unsold Houses​

TUESDAY, AUG 16, 2022 - 03:55 PM


... record low home affordability...


... a record number of new listing with price cuts (amid the collapse in demand).



... plunging housing starts...


... and so on, as the recent surge in mortgage rates has effectively pushed the housing market into a recession, which is now so widespread that 63,000 home-purchase agreements were called off in July, equal to 16% of homes that went under contract that month. According to Redfin, that's the highest percentage on record, and only the brief spike during the covid crash - which the promptly reversed - was worse. It’s up from a revised rate of 15% one month earlier and 12.5% one year earlier.



The housing market is slowing as higher mortgage rates sideline many prospective homebuyers. With competition declining, the house hunters who are still in the market are enjoying newfound bargaining power, a striking contrast from just a few months ago, when buyers often had to pull out every stop in order to win. Today’s buyers are more likely to utilize contract contingencies that allow them to back out without financial penalty if something goes wrong. And with an increasing number of homes to choose from, they’re also more likely to call a deal off if a seller refuses to bring the price down or make requested repairs—a situation that has become increasingly common given that sellers are still adjusting to the cooling market.

“Homes are sitting on the market longer now, so buyers realize they have more options and more room to negotiate. They’re asking for repairs, concessions and contingencies, and if sellers say no, they’re backing out and moving on because they’re confident they can find something better,” said Heather Kruayai, a Redfin real estate agent in Jacksonville, FL. “Buyers are also skittish because they’re afraid a potential recession could cause home prices to drop. They don’t want to end up in a situation where they purchase a home and it’s worth $200,000 less in two years, so some are opting to wait in hopes of buying when prices are lower.”

Alexis Malin, another Redfin agent in Jacksonville, warns that there’s no guarantee buyers will be able to find better deals in the future. Annual home-price growth has started to slow—to 8% today from 17% a year ago—but prices are still on the rise and Redfin economists don’t expect them to crash.

“Some buyers who are backing out of deals have this mindset that the market is crashing and they’ll be able to get a home for $100,000 less in six months.

That’s not necessarily the case,” she said. “Homes in many parts of Florida are still selling for a pretty penny, so I warn my buyers that the grass might not actually be greener on the other side.”

Some buyers may also be backing out due to 5%-plus mortgage rates. Those who started their search months ago, when rates were closer to 3%, may be realizing the type of home they wanted before is now out of budget since monthly mortgage payments have soared nearly 40% year over year.

“Home-purchase cancellations may begin to taper off as sellers get used to a slower-paced market,” said Redfin Deputy Chief Economist Taylor Marr.

“Sellers have already begun to lower their prices after putting their homes on the market. They’ll likely start pricing their properties lower from the get-go and become increasingly open to negotiations.”

And just to confirm how bad the US housing market is, even the morbidly slow rating agency Fitch Ratings said the likelihood of a severe downturn in US housing has increased (although since rating agencies are never allowed to rock the boat, it said that its rating case scenario provides for a more moderate pullback that includes a mid-single-digit decline in housing activity in 2023, and further pressure in 2024.) Fitch also notes that although it recently affirmed the ratings and Stable Outlooks for our US homebuilder portfolio, "ratings could face pressure under a more pronounced downturn scenario that would likely include housing activity falling roughly 30%, or more, over a multi-year period and 10% to 15% declines in home prices."

* * *
The biggest losers from the latest housing crash aren't sellers however, but rather homebuilders, who are suddenly finding themselves with a glut of unsold houses.

As Bloomberg notes, with this year’s surge in mortgage rates tossing buyers to the sidelines, the waitlists for new houses are gone and new-home sellers - such as Kevin Brown, who works just south of Houston, are on the front lines of a massive shift. While Brown used to have back-to-back appointments, buyers now just trickle in to his Saratoga Homes sales office. Meanwhile, he’s got 55 houses under construction and five that are complete, all without deals.

“There’s a bit of pressure on us,” Brown said. “Builders have got to hit goals and make their profit, and they don’t like inventory just sitting on the ground.”

An abrupt halt to the pandemic housing boom has left builders that started construction months ago scrambling to adapt. The US supply of new homes relative to sales in June was the highest since the midst of the last crash in 2010. And by early July, buyer traffic to homebuilder websites and sales offices had plunged to the lowest level for the month since 2012, according to a survey of builder sentiment from the National Association of Home Builders.

The new-home pile up underscores a broader shift that’s wreaking havoc in the market. A national housing shortage contributed to years of bidding wars and desperation among buyers who bid up prices to record levels for fear of missing out. But this year’s surge in borrowing costs has now pushed affordability to a breaking point and eased some of the scarcity.

At the same time, the stage is set for longer-term supply constraints as builders pull back. A decade of underbuilding and a bulging population of young people aging into homeownership threatens to prolong the affordability squeeze.

“Despite the fact that there aren’t enough housing units in the country, builders are not willing to take the gamble that’s required to build them,” said Jerry Howard, chief executive officer of the homebuilders group. “They’re afraid that, in a recessionary environment, they won’t be able to sell them.”

In June, 824,000 single-family homes were under construction in the US, more than at any time since October 2006, according to an NAHB analysis of government data. Unsold inventory has ballooned in part because of supply-chain disruptions and labor constraints that created bottlenecks in the production pipeline.

Now, with the economy entering a recession, or already in one, builders are cutting back on starts, trying to avoid having too many completed homes sitting empty. They’re also applying for fewer building permits, which for single-family homes fell in June to a two-year low, according to data from the government.

Not every market is cooling fast. But the change is stark in the pandemic boomtowns where builders piled in to meet demand for out-of-state arrivals, who often bid up prices beyond the reach of locals.

“It has become a very competitive market for builders where they are trying to offload any standing inventory,” said Ali Wolf, chief economist for Zonda, which tracks new-home production. “We may see a period where supply may actually exceed demand for a while in some of the markets that were the most feverish over the past two years.”

Boise, Idaho, is one of those areas where a pandemic bubble is bursting.

Remote workers arrived from pricier states such as California, seeking open spaces and fewer virus restrictions. But now Covid restlessness is giving way to fears that the Federal Reserve’s cure for inflation — higher rates — will tip the US into a recession.

Idaho’s biggest builder, CBH Homes, has had about a third of buyers cancel contracts in the past few months, nearly twice the level at the start of the year, according to Corey Barton, the company’s president. He’s got 200 unsold finished homes, compared with 75 at the end of last year, and said he’ll probably surpass the 350 he was left with after the last crash 15 years ago. In a sense the inventory was there all along — it was just hidden, he says.

Builders had been deliberately holding back houses, waiting until they were a couple months from completion before releasing them for sale. That’s because they couldn’t build fast enough to meet sky-high demand. By waiting, they could charge the current market price as materials costs climbed.

But now, the market is getting flooded with listings, Barton said. Homes are finishing or are getting listed earlier in the construction process.

Meanwhile, CBH has cut starts by about half. Subcontractors involved in the early stages of construction, digging out basements or pouring foundations are already feeling it, he said.

“The movement from out of state caused a false market,” Barton said. “We have to accept things for the way they are. It’s going to get tough.”

Builders of new homes find themselves in an especially trick spot, because while most traditional sellers can afford to wait or even postpone a sale if conditions deteriorate, builders will have to discount until they find the market-clearing price, said Benjamin Keys, a real estate professor at the University of Pennsylvania’s Wharton School.

“The homebuilders have an understandable incentive to pull back right now and Americans need more affordable housing,” Keys said.

At Saratoga Homes’s Glendale Lakes sales office, marketing director Christina Nuon said she’s making cold calls to agents and hosting happy hour events to boost sales. The company has a menu of incentives to bring down costs for its entry-level buyers, from $12,000 toward closing costs to a subsidized 30-year mortgage rate of just under 4%.

“Buying down rates, it’s kind of going to be our incentive probably from now on out,” Nuon said. “Just because that’s the only way we can help buyers. We can’t reduce the price any lower.”

Brown, the sales consultant, says the incentives have helped put a dent in inventory: “I am trying to find one buyer at a time,” he said, “and not get overwhelmed by what I have coming up.”

He worries that at the end of a potential recession, continued underbuilding will help keep prices elevated.
 

marsh

On TB every waking moment

We Are Not The First Civilization To Collapse, But We Will Probably Be The Last

TUESDAY, AUG 16, 2022 - 01:25 PM
Authored by Chris Hedges via The Chris Hedges Report,

I am standing atop a 100-foot-high temple mound, the largest known earthwork in the Americas built by prehistoric peoples. The temperatures, in the high 80s, along with the oppressive humidity, have emptied the park of all but a handful of visitors. My shirt is matted with sweat.

I look out from the structure—-known as Monks Mound — at the flatlands below, with smaller mounds dotting the distance. These earthen mounds, built at a confluence of the Illinois, Mississippi and Missouri rivers, are all that remain of one of the largest pre-Columbian settlements north of Mexico, occupied from around 800 to 1,400 AD by perhaps as many as 20,000 people.

This great city, perhaps the greatest in North America, rose, flourished, fell into decline and was ultimately abandoned. Civilizations die in familiar patterns.
They exhaust natural resources. They spawn parasitic elites who plunder and loot the institutions and systems that make a complex society possible. They engage in futile and self-defeating wars. And then the rot sets in. The great urban centers die first, falling into irreversible decay. Central authority unravels. Artistic expression and intellectual inquiry are replaced by a new dark age, the triumph of tawdry spectacle and the celebration of crowd-pleasing imbecility.

“Collapse occurs, and can only occur, in a power vacuum,” anthropologist Joseph Tainter writes in The Collapse of Complex Societies. “Collapse is possible only where there is no competitor strong enough to fill the political vacuum of disintegration.”

Doomsday Selfie - by Mr. Fish
Several centuries ago, the rulers of this vast city complex, which covered some 4,000 acres, including a 40-acre central plaza, stood where I stood. They no doubt saw below in the teeming settlements an unassailable power, with at least 120 temple mounds used as residences, sacred ceremonial sites, tombs, meeting centers and ball courts. Cahokia warriors dominated a vast territory from which they exacted tribute to enrich the ruling class of this highly stratified society. Reading the heavens, these mound builders constructed several circular astronomical observatories — wooden versions of Stonehenge.

The city’s hereditary rulers were venerated in life and death. A half mile from Monks Mound is the seven-foot-high Mound 72, in which archeologists found the remains of a man on a platform covered with 20,000 conch-shell disc beads from the Gulf of Mexico. The beads were arranged in the shape of a falcon, with the falcon’s head beneath and beside the man's head. Its wings and tail were placed underneath the man’s arms and legs. Below this layer of shells was the body of another man, buried face downward. Around these two men were six more human remains, possibly retainers, who may have been put to death to accompany the entombed man in the afterlife. Nearby were buried the remains of 53 girls and women ranging in age from 15 to 30, laid out in rows in two layers separated by matting. They appeared to have been strangled to death.

The poet Paul Valéry noted, “a civilization has the same fragility as a life.”

Across the Mississippi River from Monks Mound, the city skyline of St. Louis is visible. It is hard not to see our own collapse in that of Cahokia. In 1950, St. Louis was the eighth-largest city in the United States, with a population of 856,796. Today, that number has fallen to below 300,000, a drop of some 65 percent. Major employers — Anheuser-Busch, McDonnell-Douglas, TWA, Southwestern Bell and Ralston Purina —have dramatically reduced their presence or left altogether. St. Louis is consistently ranked one of the most dangerous cities in the country. One in five people live in poverty. The St. Louis Metropolitan Police Department has the highest rate of police killings per capita, of the 100 largest police departments in the nation, according to a 2021 report. Prisoners in the city’s squalid jails, where 47 people died in custody between 2009 and 2019, complain of water being shut off from their cells for hours and guards routinely pepper spraying inmates, including those on suicide watch. The city’s crumbling infrastructure, hundreds of gutted and abandoned buildings, empty factories, vacant warehouses and impoverished neighborhoods replicate the ruins of other post-industrial American cities, the classic signposts of a civilization in terminal decline.

“Just as in the past, countries that are environmentally stressed, overpopulated, or both, become at risk of getting politically stressed, and of their governments collapsing,” Jared Diamond argues in Collapse: How Societies Choose to Fail or Succeed. “When people are desperate, undernourished and without hope, they blame their governments, which they see as responsible for or unable to solve their problems. They try to emigrate at any cost. They fight each other over land. They kill each other. They start civil wars. They figure that they have nothing to lose, so they become terrorists, or they support or tolerate terrorism.”

Pre-industrial civilizations were dependent on the limits of solar energy and constrained by roads and waterways, impediments that were obliterated when fossil fuel became an energy source. As industrial empires became global, their increase in size meant an increase in complexity. Ironically, this complexity makes us more vulnerable to catastrophic collapse, not less.

Soaring temperatures (Iraq is enduring 120 degree heat that has fried the country’s electrical grid), the depletion of natural resources, flooding, droughts, (the worst drought in 500 years is devastating Western, Central and Southern Europe and is expected to see a decline in crop yields of 8 or 9 percent), power outages, wars, pandemics, a rise in zoonotic diseases and breakdowns in supply chains combine to shake the foundations of industrial society. The Arctic has been heating up four times faster than the global average, resulting in an accelerated melting of the Greenland ice sheet and freakish weather patterns. The Barents Sea north of Norway and Russia are warming up to seven times faster. Climate scientists did not expect this extreme weather until 2050.

“Each time history repeats itself, the price goes up,” the anthropologist Ronald Wright warns, calling industrial society “a suicide machine.”

In A Short History of Progress, he writes:

Civilization is an experiment, a very recent way of life in the human career, and it has a habit of walking into what I am calling progress traps. A small village on good land beside a river is a good idea; but when the village grows into a city and paves over the good land, it becomes a bad idea. While prevention might have been easy, a cure may be impossible: a city isn't easily moved. This human inability to foresee — or to watch out for — long-range consequences may be inherent to our kind, shaped by the millions of years when we lived from hand to mouth by hunting and gathering. It may also be little more than a mix of inertia, greed, and foolishness encouraged by the shape of the social pyramid. The concentration of power at the top of large-scale societies gives the elite a vested interest in the status quo; they continue to prosper in darkening times long after the environment and general populace begin to suffer.

Wright also reflects upon what will be left behind:

The archaeologists who dig us up will need to wear hazmat suits. Humankind will leave a telltale layer in the fossil record composed of everything we produce, from mounds of chicken bones, wet-wipes, tires, mattresses and other household waste to metals, concrete, plastics, industrial chemicals, and the nuclear residue of power plants and weaponry. We are cheating our children, handing them tawdry luxuries and addictive gadgets while we take away what’s left of the wealth, wonder and possibility of the pristine Earth.

Calculations of humanity’s footprint suggest we have been in ‘ecological deficit,’ taking more than Earth’s biological systems can withstand, for at least 30 years. Topsoil is being lost far faster than nature can replenish it; 30 percent of arable land has been exhausted since the mid-20th century.

We have financed this monstrous debt by colonizing both past and future, drawing energy, chemical fertilizer and pesticides from the planet’s fossil carbon, and throwing the consequences onto coming generations of our species and all others. Some of those species have already been bankrupted: they are extinct. Others will follow.

As Cahokia declined, violence dramatically increased. Surrounding towns were burned to the ground. Groups, numbering in the hundreds, were slaughtered and buried in mass graves. At the end, “the enemy killed all people indiscriminately. The intent was not merely prestige, but an early form of ethnic cleansing” writes anthropologist Timothy R. Pauketat, in Ancient Cahokia and the Mississippians. He notes that, in one fifteenth-century cemetery in central Illinois, one-third of all adults had been killed by blows to the head, arrow wounds or scalping. Many showed evidence of fractures on their arms from vain attempts to fight off their attackers.

Such descent into internecine violence is compounded by a weakened and discredited central authority. In the later stages of Cahokia, the ruling class surrounded themselves with fortified wooden stockades, including a two-mile long wall that enclosed Monks Mound. Similar fortifications dotted the vast territory the Cahokia controlled, segregating gated communities where the wealthy and powerful, protected by armed guards, sought safety from the increasing lawlessness and hoarded dwindling food supplies and resources.

Overcrowding inside these stockades saw the spread of tuberculosis and blastomycosis, caused by a soil-borne fungus, along with iron deficiency anemia. Infant mortality rates rose, and life spans declined, a result of social disintegration, poor diet and disease.

By the 1400s Cahokia had been abandoned. In 1541, when Hernando de Soto’s invading army descended on what is today Missouri, looking for gold, nothing but the great mounds remained, relics of a forgotten past.

This time the collapse will be global. It will not be possible, as in ancient societies, to migrate to new ecosystems rich in natural resources. The steady rise in heat will devastate crop yields and make much of the planet uninhabitable. Climate scientists warn that once temperatures rise by 4℃, the earth, at best, will be able to sustain a billion people.

The more insurmountable the crisis becomes, the more we, like our prehistoric ancestors, will retreat into self-defeating responses, violence, magical thinking and denial.

The historian Arnold Toynbee, who singled out unchecked militarism as the fatal blow to past empires, argued that civilizations are not murdered, but commit suicide. They fail to adapt to a crisis, ensuring their own obliteration.

Our civilization’s collapse will be unique in size, magnified by the destructive force of our fossil fuel-driven industrial society. But it will replicate the familiar patterns of collapse that toppled civilizations of the past. The difference will be in scale, and this time there will be no exit.
 
Last edited:

marsh

On TB every waking moment

Will Catastrophic Crop Losses in 2022 Lead to Unprecedented Shortages in 2023?​

by Michael Snyder
August 17, 2022

Crops are failing all over the globe this summer, but most people don’t even know that this is happening because the big television news channels aren’t talking much about it. Instead, they remain intensely focused on politics day after day. Without a doubt, the political realm is important, but there should also be plenty of time to discuss a raging global crisis which is going to deeply affect all of us. The food that is not being grown this year is not going to be on our plates next year, but the vast majority of the population doesn’t understand this. They see plenty of food in the stores now and they just assume that everything is going to be okay.

Unfortunately, everything is not going to be okay. Over in the UK, a major British news source is warning of “widespread crop failures across England”…

Experts have warned of widespread crop failures across England, as charities and farmers criticised water companies for dithering over hosepipe bans despite drought being declared across much of the country.

So what sort of losses are we talking about?

Well, it is now being projected that losses could reach up to 50 percent for a wide variety of crops…

Half of the potato crop is expected to fail as it cannot be irrigated, and even crops that are usually drought-tolerant, such as maize, have been failing.

The group was told “irrigation options are diminishing with reservoirs being emptied fast”, and losses of 10-50% are expected for crops including carrots, onions, sugar beet, apples and hops. Milk production is also down nationally because of a lack of food for cows, and wildfires are putting large areas of farmland at risk.

The British are assuming that they will just get enough food to feed their population from someone else. But that is what everyone else is assuming too.

As global food supplies get tighter and tighter, the wealthy countries will buy up food at elevated prices, and many poor countries will be left out and will suffer tremendously.

Things are even worse in Italy. As I covered the other day, some farmers in Italy have already lost “up to 80% of their harvest”

In Italy, farmers in some parts of the country have lost up to 80% of their harvest this year due to severe weather anomalies, the Coldretti farming association said Thursday.

So where will Italy get enough food to feed their population?

Just like the British, the plan to get it from someone else. But who is the someone else going to be?

Here in the United States, agricultural production is going to be way below expectations because of the endless drought that is plaguing about half the country.

Just yesterday, I wrote an article about how tomato production is being absolutely devastated in the state of California.

It is being reported that tomato paste prices have already increased by up to 80 percent, and we are being warned that if rain doesn’t come soon there simply will not be enough tomatoes to meet demand.

That means that there won’t be enough spaghetti sauce and pizza sauce to go around.

For a lot of my readers, that statement is really going to hit home.

Over in Texas, the cotton crop is going to be bitterly disappointing this year

US cotton prices continued to surge above the boom days of 2010-11 after a massive crop estimate cut by the USDA, shocking Wall Street analysts and traders, due primarily to a megadrought scorching farmland of Texas, according to Bloomberg.

Futures in New York for December delivery were up 4.5% to $1.1359 a pound and up more than 21% this month.

Normally, there would be vast fields of cotton being grown all over the state at this time of the summer.

But this year many of those fields look like barren wastelands

Last Friday, the USDA’s bigger-than-expected cut to domestic cotton crop stunned many on Wall Street. Crop output plunged to 12.57 million bales, the lowest in a decade. The cut also pushed down the US from the world’s third-largest producer to the world’s fourth.

Barbera said the western Texas region (around Lubbock and Lamesa), the epicenter of America’s cotton-growing belt, has “literally nothing” in fields that are just desert sand. He said fields that had drip irrigation were harvestable, but ones that weren’t weren’t salvageable.

So are we going to experience a shortage of cotton in 2023?

If so, that would be really bad news. Cotton is used in thousands of different products.

Without enough water, we cannot grow the things that we need.

I don’t know why this is so hard for people to grasp.

And the truth is that our entire way of life depends on sufficient supplies of fresh water. Right now, there are seven western states that are facing the prospect of emergency water restrictions in the months ahead because the Colorado River is rapidly drying up

Two months ago, federal officials took the unprecedented step of telling the seven states that depend on Colorado River water to prepare for emergency cuts next year to prevent reservoirs from dropping to dangerously low levels.

The states and managers of affected water agencies were told to come up with plans to reduce water use drastically, by 2 million to 4 million acre-feet, by mid-August. After weeks of negotiations, which some participants say have at times grown tense and acrimonious, the parties have yet to reach an agreement.

Nobody wants to give up their water.

In the end, all of those states are going to have to make severe sacrifices. At a minimum, the amount of water being taken from the Colorado River needs to be reduced by 2 million acre-feet, and that is an amount of water that is four times greater than the entire city of Los Angeles uses in an entire year

The latest round of closed-door talks occurred Thursday in Denver. Participants said they wouldn’t publicly discuss the offers of water reductions made, but they acknowledged those offers have amounted to far less than 2 million acre-feet. For comparison, the total annual water use of Los Angeles is nearly 500,000 acre-feet.

Needless to say, this is going to affect agriculture in a major way.

Farmers and ranchers use a tremendous amount of water, and they are about to be hit with restrictions that will be extraordinarily painful.

Everything that I have discussed in this article is happening in the context of a horrifying global food crisis that is getting worse with each passing month.

But don’t worry, the elite have a plan.

For a long time they have touted the benefits of eating bugs, and now such products are actually on our store shelves

On Sunday, carnivore diet guru Dr. Shawn Baker tweeted a photo of a bag of cheddar cheese puffs, only instead of being made of corn meal these snack foods were chock-full of insect protein.

The snack item from Canadian brand Actually Foods states the puffs are “powered by crickets” to the tune of 10 grams of protein per serving.

The ingredients label on the back of the bag indicates “organic cricket flour” was used in the puffs’ production, and an allergy warning on the back of the bag also cautions, “People who are allergic to shellfish may also be allergic to crickets.”

Doesn’t that sound delicious?

Instead of suffering through the nightmarish global famines that are coming, we can all eat “cricket puffs” instead.

Unfortunately, the truth is that they can’t make enough “cricket puffs” to rescue us from the “perfect storm” that has hit global food production.

There simply is not going to be enough food for everyone in 2023, and it will be the poorest countries that will suffer the most.
 
Last edited:

marsh

On TB every waking moment

Radical Drought Caused by Military Weather Weapons – Dane Wigington

Radical Drought Caused by Military Weather Weapons – Dane Wigington​

By Greg Hunter On August 16, 2022 In Political Analysis 19 Comm

By Greg Hunter’s USAWatchdog.com.

Last month, climate engineering researcher Dane Wigington predicted “40 million in West would be without water in 2023.” Looks like the U.S. government is just as worried as Wigington about the extreme drought conditions. The Bureau of Reclamation just announced a first-ever forced water cut plan as the Colorado River dwindles to a trickle in Western America. Wigington contends the severe drought in the West and around the world is not a natural event but caused by man-made weather modification called geoengineering. Wigington explains, “What do we see around the globe? It’s not just Europe and not just the Western U.S., but South America also. We are seeing radical protracted drought that is crushing crops everywhere while Las Vegas is being deluged in an engineered scenario. This is all technology. They control the spigot, period. We have said this at GeoEngineeringWatch.org for a decade and a half. Everything is manifesting itself. What are we seeing? While Vegas is being flooded, we are seeing in the bread basket in the Midwest and California 110 degree temperatures, single digit humidity in some places, and crops are virtually imploding here.”

Who is responsible for the biggest drought in the last 1,200 years? Wigington says documents show it is the U.S. military. Wigington says, “Zbigniew Brzezinski, former National Security Advisor to Presidents Johnson and Carter, stated on the record that climate modification operations were the exceptional covert weapon of the U.S. military to make countries and their populations more compliant. Climate modification is the Crown Jewel weapon of the Military Industrial Complex. It’s not just for foreign adversaries, but for their own populations. They can bring them to their knees without them ever knowing they are under assault. Think how absurd this is when we have climate modification operations cutting off precipitation to tens of millions in the U.S., and nobody seems to have a clue. Nobody is willing to acknowledge this elephant in the sky.”

The military is also using forest fires as a weapon. Wigington says, “We have found a document that is titled ‘Forest Fires as a Military Weapon.’ (Wigington also has produced a video with the same title.) It actually names the processes or road map to prepare for intense incineration. What is most damning about this document is it specifically cites not only many locations in the U.S., including Mount Shasta where I live, it also cites the ‘prime burn windows’ for other U.S. allies that are on fire now such as Portugal, Spain and Greece. How much more damning can a document be? This is business as usual for the U.S. military. Think about the insanity of this. You incinerate forests as a military weapon and inflict damage on your own citizens.”

Wigington says there is a short window to fully wake people up to stop geoengineering, but the most important group is the U.S. military. Wigington says, “Our military personnel are unknowingly participating in this . . . . They are being told they are doing something for the greater good. It’s something that is saving the planet when it is, in fact, killing the planet.”

Wigington talks about all the contaminated rain water, nuclear war, nano lipid particles, aluminum in your body and how much time we have left before the entire ecosystem implodes because of man-made weather modification called geoengineering.

There is much more in the 36 min interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with climate researcher Dane Wigington, founder of GeoEngineeringWatch.org, with an update to the ongoing global drought calamity for 8.16.22.

Radical Drought Caused by Military Weather Weapons – Dane Wigington 36:41 min
 

marsh

On TB every waking moment
New Vaccine Study Should SOUND THE ALARMS for the CDC/NHS 1:38 min

New Vaccine Study Should SOUND THE ALARMS for the CDC/NHS​

The Vigilant Fox Published August 16, 2022 200 Views
Dr. John Campbell: “After the second dose of the Pfizer vaccine ... abnormal electrocardiogram 17.94% and elevated biomarkers, which is the really definitive thing these are substances released from damaged heart muscle, 2.33%. Now I was actually taken aback by these figures these very high levels and the implications of this ...”
 

marsh

On TB every waking moment
Liz Yore: 14,000 Unaccompanied Minors Are Passed Per Month Over The Southern Border 3:08 min

Liz Yore: 14,000 Unaccompanied Minors Are Passed Per Month Over The Southern Border​

Bannons War Room Published August 16, 2022

(Children are being placed with a sponsor without a background check. Children dumped in cities with sponsors who are strangers. Example: It costs $1.5 billion to care for 22,000 children in the foster care system in the State of Illinois. UN Rights of the Child Convention being violated. It is a strategy to flood our education and medical systems. )
 

marsh

On TB every waking moment

German Consumers Just Learned How Much Extra They Will Have To Pay For Gas This Winter

TUESDAY, AUG 16, 2022 - 11:45 PM
With millions of German facing a painful freeze in the coming months, a winter gas surcharge, which will come into effect in October for German households and businesses, was set at 2.4 euro cents per kilowatt hour on Monday, DW reported on Monday.

Gas prices have been driven by German sanctions on Russian gas, prompting market concerns about energy security and also shortfalls in deliveries in some cases. And while so far, consumers have been largely shielded from the increases, with companies unable to pass on their increased costs, all that is about to change.

"It will get more expensive — there is no getting around that. Energy prices continue to rise. But: we are already unburdening citizens to the tune of €30 billion," Chancellor Olaf Scholz said on Twitter on Monday, soon after the announcement. "And we are working on a further relief package. We will leave nobody alone with these increased costs."

The decision on the amount of the levy fell to the company charged with overseeing and coordinating the German gas market, Trading Hub Europe. The stated aim of the levy is to cover around 90% of the additional costs incurred by gas providers who are now paying higher prices to secure gas, in some cases from new sources other than Russia.

Just under half of German households are heated using gas, the most popular method by far in the country. German dependence on Russian gas has become notorious this year amid the war in Ukraine, both for household power and for industry.

Government seeks sales tax exemption
Finance Minister Christian Lindner has already said he aims to soften the blow by appealing in Brussels for the right to waive sales tax on the new gas levy. Doing this would require the green light from the EU. "That will make a difference for people," Lindner said.

The head of the German Association of Energy and Water Industries, Kerstin Andreae, argued that this did not go far enough. She told public broadcaster ARD it would be better to try to secure the reduced sales tax rate of 7% for all gas payments, saying that relief for consumers was "essential."

Economy Minister Robert Habeck said on Monday after the announcement that if the plan to a sales tax exemption falters in Brussels, "we will come up with fitting mechanisms to balance this out." Habeck called the levy a "bitter medicine," but said that by imposing it, "we are securing supply in Germany."

"The levy must and will be accompanied by a further relief package," Habeck said, in comments mirroring Scholz's, particularly for low-income households liable to be hit hardest. Governnment spokeswoman Christiane Hoffmann told reporters in Berlin that by the time the levy came into effect on October 1, such measures would "be prepared."

For a four-person household, the increase should mean an additional roughly €480 per year, excluding sales tax.

Industries rush to call for help
German businesses and trade unions quickly warned of the potential impacts on their operations.

"The federal government must usher in a further relief package to protect people from energy poverty," the chairman of major trade union Verdi, Frank Werneke, said in a statement. "Fiddling with income tax thresholds is no solution for this. Much more, we need rapid and effective relief particularly for people on low or medium incomes."

The president of the German steelmakers' association, Hans Jürgen Kerkhoff, said on Monday that the levy would cost the German steel industry in the region of €500 million a year. He also said the industry would already incur costs of €7 billion because of rising prices for energy, even before the levy.

Germany's steel industry uses roughly 2 billion cubic meters of natural gas each year.

The German federation of chemicals industries called the decision "an extremely bitter pill" in a statement, calling on the government to subsidize the extra costs to limit the impact.

The VDMA group of mechanical engineering companies said that the levy, coupled with gas prices expected to climb further, and concern among customers could conspire to put businesses at risk.

"Increasingly out members are confronted with suppliers who consider new [gas] contracts to be so risky, that they are not making any tenders at all, or only offers with a minimum duration," the VDMA's Thilo Brodtmann said.

Fairness and effect on inflation questioned
Business-focused newspaper Handelsblatt on Monday featured a study from an economic institute with close ties to German trade unions. According to the Institute for Macroeconomics and Cyclical Analysis, the gas levy could end up accelerating inflation rates by as much as 2%, bringing them closer to 10%.

Commerzbank's chief economist Jörg Krämer also considered increased inflation likely as a result.

"Coupled with the expiry of the 9-euro [public transport] ticket and the discount at filling stations, this could push the inflation rate over 9% in October and November. It's an enormous reduction in purchasing power for consumers," Krämer told Reuters news agency.

Germany, like many western economies, is facing its first period of rapid inflation in decades, with the most recent figures showing a slight dip to 7.5% year-on-year in July.

A leading member of Germany's socialist Left Party, Dietmar Bartsch, railed against the plan in a Monday newspaper interview. Bartsch called the levy an "impoverishment program for many people," and argued that the government should cover any additional costs with the "rapidly rising sales tax revenues."

He also called for a bid to cover the increased costs in what he considered a more equitable manner.

"It is irresponsible of the government that no effort is made to check what financial situation the consumers are in, instead approving this blanket levy for everybody," Bartsch told the RND network of newspapers.
 

marsh

On TB every waking moment
Professor Han Lindeboom | The Politics of Nitrogen | Clear Voices 58:33 min

Professor Han Lindeboom | The Politics of Nitrogen | Clear Voices​

planetlockdown Published August 17, 2022

In this exclusive interview with Professor Han Lindeboom in Marine Ecology at Wageningen University / AEW and Royal Netherlands Institute for Sea Research.

He has authored two reports on the models the Dutch government is using to regulate Nitrogen in a way that severely effects livestock farmers.

This Nitrogen regulation is at the core of the Dutch Farmer protests. By July 2023 the regulations come into full effect, which if goes as planned, will eliminate the bulk of the animal livestock industry in Holland.

Professor Han Lindeboom is at the forefront of this issue and this important interview helps bring greater understanding to this complex and convoluted story.

Subtitles on the interview are auto generated and not fully accurate.
Here is a link to the full report of Professor Lindeboom
DEELMAP STIKSTOF FOCUSGROEP - Google Drive
 

marsh

On TB every waking moment
See post #6475 for the second part of PIT and the Trevor Louden video.

Devolution Power Hour - Gregg Phillips Interview 1:00:17 min (Starts at 14:12 min)

Devolution Power Hour - Gregg Phillips Interview​

Patel Patriot Published August 15, 2022

Join me for the first Gregg Phillips interview since the PIT. I'm going to do my best to get to the bottom of this new story involving a foreign country and our elections. You don't want to miss this!

Patel Patriot – KIRK ELLIOTT PHD
 
Last edited:

marsh

On TB every waking moment

Edward Dowd: The biggest scandal in history of the U.S. is about to be exposed!​

John Fredericks Media Network Published August 16, 2022

Watch "Outside The Beltway with John Fredericks" on Real America's Voice every weekday from 7am - 8am or listen on The John Fredericks

(WEF Harrari statements - we don't need the common man. Vaxx and Pfizer CEO getting COVID. Vaxx injuries and deaths. )
 

marsh

On TB every waking moment

The U.S. is Now 30 Days Away From a Possible Railroad Labor Strike

By TYNE MORGAN August 17, 2022

Delays on U.S. railroads have been a growing problem for shipping agricultural goods all year. Labor discussions are ongoing and with the grain industry concerned about a possible labor stoppage in mid-September, which would be the height of Midwest harvest.

Just this week, the White House-appointed Presidential Emergency Board (PEB) released a recommendation as part of the ongoing collective bargaining process. Both sides have 30 days to accept those recommendations. If the two parties don't agree, then rail workers are allowed to go on strike as of Sept. 16, 2022.

PEB Rec
Max Fisher, Chief Economist, National Grain and Feed Association (NGFA) has been watching the situation closely. He says the biggest takeaway from the Emergency Board’s recommendation is a 24% wage increase over five years for rail labor.

"You may be asking, 'Where does that stand with respect to where the two sides were at?' The rail carriers were at 17% is what they were offering, and rail labor, what they were requesting, was 31%. So, 24% is right in between those two figures," says Fisher.

Congress Holds the Power to Intervene
While workers can legally go on strike starting September 16th if they don't choose to adopt the board's recommendations, Congress can intervene if workers decide to strike September 16th.

"If history repeats itself, the last time we had a stoppage was in the early 1990s," he says. "And I believe it lasted one day, maybe two days, before Congress passed a bill prohibiting a lockout or strike and essentially, the two sides had to then go back to work on reaching agreement. So, Congress has a lot of power here. And we would like to think that they're going to exercise it, we're certainly going to encourage them to exercise it because stopping the railroads would be very, very bad for the agricultural economy."

Fisher says the railroads have been working to hire more workers, but considering the current labor shortage and shipping delays, he expects rail delays to last another year. The rail delays have been so bad, some feed users report being just days away from running out of feed. Those delays could be inevitable even if a strike is averted in September.

Trouble Shipping Grain And Feed Via Rail Far From Over, Concerns Now Growing About Possible Worker Strike At Harvest

"Obviously, it could get worse if the trains were just to completely stop. But the service right now, even without a stop, it just not the best," says Fisher. "There's still a lot of delays as far as bringing rail cars to facilities, pulling them and delivering them. So, now the grain industry is still not in a really good spot with respect to rail transportation."

Tense Labor Negotiations
The April hearing in front of the STB gave a hint to just how tense those labor negotiations could continue to be. Rail carriers pointed out just how severely impacted they’ve been from what’s been dubbed the “Great Resignation,” and the issues getting labor back up to speed. Certain rail carriers also outlined the plans in place to get labor back to necessary levels to operate efficiently and smoothly.

However, rail workers place blame on the railroads, saying there’s more to the story. Mark Wallace, locomotive engineer, and vice president of Brotherhood Of Locomotive Engineers and Trainmen (BLET), which is North America’s oldest rail labor union, testified during the STB hearing in April.

“Since 1984, 40 railroads have been reduced to seven class one carriers, now largely controlled by speculators and hedge fund investors,” he stated. “This culture of profits over safety, customer service and the lives of railroad workers is now exposed as this industry is network fails on a daily basis.”

Union Pacific, which is also part of the labor negotiations between rail workers and freight railroads over a new labor contract, signaled in July that the two sides were still far from reaching an agreement.

"I wish we could have gotten an agreement earlier in the process," Union Pacific's Lance Fritz said. "But the railroads and the union leadership are pretty far apart right now in terms of what we think is an appropriate settlement on wages."

The talks involve nearly 115,000 union rail workers and more than 30 railroads and started in 2020.

BNSF Train Derails This Week
A BNSF train derailed between Hereford, Tx. and Dawn, Tx. early Wednesday morning. While the cause is still unknown, on-the-ground reports say pieces of the track were scattered around where the rail cars derailed and piled up.

Photos showed the aftermath of the accident. Sources from around the Hereford area describe that part of the rail line as extremely busy, with a train passing through that spot nearly every 15 minutes.

"BNSF can confirm that at approximately 5:00 a.m. CT an eastbound intermodal freight train derailed 17 cars northeast of Hereford, Texas," a BNSF communications spokesperson told Farm Journal. "There were no injuries to the train crew. Our teams are on site with equipment to clear the area and restore the track. The estimated time to reopen our first main train is mid-afternoon. The cause of the derailment is under investigation."

https://v16m-default.tiktokcdn-us.c...MS9zcw==&l=20220817220014F2ADEF9BDB533A783174 No R/T given

Maps of BNSF routes shows that specific line runs as far west as California, evening leading the Port of Los Angeles, a port known as one of the world's busiest seaports and a leading gateway for international trade in the Western Hemisphere.

Derailments have been a concern for grain shipping industry experts, especially considering the high heat in the South and Southwest this year. The triple digit heat could cause railways to buckle.
 

marsh

On TB every waking moment

‘Deeply Flawed’: Democrats’ Climate Bill May Supercharge China And Its Carbon Emissions

JACK MCEVOY
August 16, 2022

The Democrats’ massive climate spending bill, which was signed into law by President Joe Biden on Tuesday, may empower China’s green energy manufacturing while doing little to curb carbon emissions.

The $369 billion package will rapidly accelerate the development and usage of solar, wind and battery power. However, it is likely that a significant portion of green energy manufacturing will take place in China, the world’s top carbon emitter, where fossil fuels are a main source of energy, according to the Energy Information Administration (EIA). (RELATED: Here’s How China Could See A Massive Windfall From Dems’ Big Spending Bill)

“It’s a deeply flawed and not fully thought-through plan,” Mark Mills, energy and tech expert at the Manhattan Institute, told the Daily Caller News Foundation.

Massive quantities of essential minerals including cobalt, nickel, manganese, lithium and graphite are needed for batteries, solar panels and other renewable energy products. However, China, a nation that is considered an “entity of concern,” has a stranglehold on both the global supply and refinement of these minerals, according to a 2021 International Energy Agency report.

“The other part of the picture being ignored is that the pursuit of more minerals than the world (or China) can supply will cause mineral prices to inflate to record levels,” Mills said. “That will impact the costs of building not just wind/solar/battery machines, but everything else made from the same minerals, such as copper and nickel.”

China, which uses coal as a primary energy source, produces 80% of the world’s solar panels and 77% of lithium-ion batteries. Coal, which accounted for 58% of China’s energy production in 2019, emits about twice the amount of greenhouse gases as natural gas, an energy source that is commonly used in the U.S.

Workers are seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018. REUTERS/Stringer. IMAGE WAS PROVIDED BY A THIRD PARTY.

“The bill is doing more to help China’s economy than America’s,” Ben Lieberman, a senior fellow at the Competitive Enterprises Institute, told the DCNF.

The tax credits and reductions in the bill are intended to strengthen domestic supply chains for green energy. However, the Biden administration continues to obstruct mining projects that would help its ambitious energy transition such as lithium mining in Nevada and nickel, cobalt and copper mining in Minnesota.

“There’s no chance – none – for the U.S. to expand domestic mining and refining rapidly enough to dent Chinese dominance in the near future,” Mills stated.

The White House did not immediately respond to the DCNF’s request for comment.
 

marsh

On TB every waking moment

The IRS Isn’t The Only Agency Being Supersized By Democrats

JACK MCEVOY
August 17, 2022

The Democrats’ massive climate spending package, which President Joe Biden signed into law on Tuesday, will give over $40 billion to the Environmental Protection Agency (EPA), just as the bill allocates almost $80 billion to expand the Internal Revenue Service (IRS).

The bill, dubbed the Inflation Reduction Act, includes $369 billion in total climate spending, and will give the EPA more than $40 billion in the current fiscal year to combat climate change, enforce environmental standards and secure “environmental justice,” according to a Congressional Research Service report. The EPA’s enacted budget for 2022’s fiscal year was about $9.5 billion, according to the agency figures, meaning the bill will more than quadruple the EPA’s current annual spending. (RELATED: Democrats Plan To Shell Out Almost $80 Billion To Supersize The IRS)

The IRS will use its $80 billion in new funding to hire 87,000 new agents as well as ramp up auditing and other enforcement mechanisms. Democrats claim that these measures will raise $124 billion in revenues from increased taxpayer compliance, according to their summary of the bill.

The bill will give the EPA $27 billion in accordance with the Clean Air Act to start a ‘Greenhouse Gas Reduction Fund’ that will finance competitive grants to fund national and regional “green banks,” which will use the money to fund initiatives and projects aimed at reducing carbon emissions, according to the bill’s text. Renewable energy initiatives funded by the “green banks” are intended to help underprivileged and low-income communities; the agency will also only have 180 days to allocate these funds to “green banks.”

The Environmental Protection Agency (EPA) headquarters in Washington, DC, on June 29, 2022. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)

Democrats are allocating a further $8 billion in total to reduce air pollution at ports and fund general pollution reduction grants. The bill also allots $3 billion for EPA “environmental and climate justice block grants” that will help facilitate political “engagement in disadvantaged communities” through advisory groups, rulemakings and workshops.

The agency will also receive $1.55 billion to pay for its methane emissions reduction program to offer financial incentives to oil and gas producers who reduce their methane emissions, according to the bill. Additionally, the EPA will get $906 million in total to finance programs that address air pollution in schools, report corporate emissions and help declare “environmental products” as well as various other initiatives.

EPA Administrator Michael Regan touted the bill’s passage through the Senate in a statement last Friday. The Democrats’ huge spending bill will help accelerate EPA regulatory efforts and other operations in order to further the Biden administration’s aggressive climate agenda.

The White House and EPA did not immediately respond to the Daily Caller News Foundation’s request for comment.
 

marsh

On TB every waking moment

Federal Court Allows Biden To Once Again Pause Oil And Gas Drilling

JACK MCEVOY
August 17, 2022

The 5th U.S. Circuit Court of Appeals on Wednesday threw out a lower court’s order that would have stopped the Biden administration’s moratorium on new oil and gas leasing on federal lands, according to court filings.

The 5th Circuit court appeals court vacated the Louisiana district court’s decision to block the Interior Department’s (DOI) leasing pause after Louisiana and a dozen other states filed a lawsuit against the administration, arguing that they would suffer injury from the policy, according to legal documents. The federal court determined that the lower court’s directive does not specifically outline what the Biden administration is and is not permitted to do. (RELATED: Biden Admin Considers Banning All Offshore Drilling As Energy Crisis Worsens: REPORT)

The appeals court sent the case back to the Louisiana district court, arguing that it must first address the procedural problem before the case can proceed, according to court filings.

“We cannot reach the merits of the Government’s challenge when we cannot ascertain from the record what conduct—an unwritten agency policy, a written policy outside of the Executive Order, or the Executive Order itself— is enjoined,” said a three-judge panel in the briefs.

“Our review of (Administrative Procedure Act) claims must begin by determining if there was final agency action. Where, as here, it is unclear what final agency action the district court predicated its order upon, we are unable to reach the merits of the appeal,” the judges stated.

President Joe Biden halted the issuance of new government leases in January 2021 as part of a comprehensive effort to limit fossil fuel production on federal land and mitigate the effects of climate change. Biden stated that the suspension should be implemented “pending completion of a study and reconsideration of oil and gas permitting and leasing practices,” according to the presidential order that mandated the pause.

“We are reviewing the decision,” a DOI spokeswoman told the Daily Caller News Foundation.

However, the Department of the Interior (DOI) completed its review in November 2021; however, the administration has continued to delay leasing. The government must hold more lease sales, including one by the end of this year, to be in accordance with the Democrats’ new climate, tax and health care legislation, which Biden signed on Tuesday.

The 5th Circuit Court of Appeals and the White House did not immediately respond to the Daily Caller News Foundation’s request for comment.
 

marsh

On TB every waking moment

Biden’s EV Push Undermined By Scarce And Faulty Charging Stations

JACK MCEVOY
August 17, 2022

Many electric car charging stations in the U.S. break or malfunction when drivers need them, which is undermining President Joe Biden’s efforts to phase out gas-powered vehicles, according to a JD Power study released on Wednesday.

Electric vehicle (EV) owners are complaining that public infrastructure to support EV usage is poor, despite efforts to increase the number of public EV chargers in the country, according to a Wednesday press release summarizing JD Power’s Electric Vehicle Experience Public Charging Study. The problem emphasizes the difficulty the Biden administration is facing in pushing electric vehicles as the growth in EV purchases is further straining the administration’s poorly developed EV infrastructure.

“The current state of public charging really isn’t very good,” said Brent Gruber, executive director of global automotive at JD Power, according to the Detroit Free Press.

The study, which surveyed more than 11,550 drivers from January through June 2022, reported that one in five drivers failed to successfully charge their electric car during a visit to a public charging station, according to the press release. Roughly 72% of EV owners whose vehicles weren’t charged attributed it to defective equipment, according to the press release.

“Not only is the availability of public charging still an obstacle, but EV owners continue to be faced with charging station equipment that is inoperable,” Gruber stated in the press release.

The two main public charging options, Level 2 and DC fast charging, vary in the time it takes to charge an EV. Level 2 charging ranges from 1.8 to 10 kilowatts (kW) while DC fast charging ranges from 50 to 350kW, according to JD Power. EVs can thus regain hundreds of miles of charge in 20 to 30 minutes using a DC fast charger; however, Level 2 charging is much slower and provides roughly of 25 to 30 miles of driving range per hour, meaning an eight-hour overnight charge can only grant 200 miles of driving range.

There are around 53,000 public Level 2 and DC charging stations across the nation, according to the U.S. Department of Energy’s Alternative Fuels Data Center. And although the majority of EV owners charge their vehicles at home, charging facilities must become more widely available if EVs are to become more appealing to consumers.

The Biden administration is creating a countrywide network of stations to get more EVs on the road and accelerate its goals to reach net-zero greenhouse gas emissions by 2050. The administration allocated $5 billion in funding to expand EV charging infrastructure as part of the infrastructure bill that Biden signed in November 2021.

JD Power and the White House did not immediately respond to the Daily Caller News Foundation’s request for comment.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=SFJmctlSaqg
24:04 min

Press Conference: Trade and Food Policy Outlook | Davos | #WEF22

Aug 17, 2022

World Economic Forum

Join the Director-General of WTO, CEO of Yara International, and Børge Brende as they discuss the trade outcomes of Davos as many countries face food security issues. Better aligned approaches and new cooperation are needed to address the growing food security and affordability crisis.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=IZ_5iWwNVx8
8:33 min

Target profit plunges 90% as inflation-weary shoppers pull back​



The Economic Ninja

Target profit plunges 90% as inflation-weary shoppers pull back. Retail Sales are slowing rapidly and it will start to show in the stock market soon. As some people are asking what stocks to buy now the big money is getting out of the stock market.

^^^^^

Target profit plunges 90% as inflation-weary shoppers pull back​

By Chris Isidore, CNN Business
Updated 2:26 PM EDT, Wed August 17, 2022

New York(CNN Business)Target reported profit plunged 90% in the second quarter, falling far short of expectations, as inflation-weary customers pulled back on spending on nonessential items.

Retailers, including Target, have been forced to cut prices on general merchandise, such as clothing, electronics and home goods, because of excess inventory of goods. Consumers had to shift more of their spending to higher priced food and gasoline.

But Target reported that its price cuts did little good: It ended the quarter with 1.5% more inventory than it had three months earlier and 36% more than it had a year ago.

The company said it reduced the amount of discretionary items it held in warehouses, but Target noted the sales on those items "put significant pressure on our near-term profitability."

Shares of Target (TGT) fell 3% in morning trading on the report.

Plunging earnings, once again​

Target's quarterly net income fell to $183 million, down significantly from $1.8 billion during the same period a year ago.

Plus, its adjusted earnings of 39 cents a share were far below the 72 cents forecast by analysts surveyed by Refinitiv. Sales of $26 billion were up slightly from a year ago and roughly in line with forecasts.

After seven quarters of strong profit growth, this marks the second-straight quarter of plunging earnings at Target — and this decline was much more significant than the 40% drop in the previous quarter.

Consumers' pullback on demand for discretionary items is one of the factors raising fears of a recession, as consumer spending is responsible for nearly three-quarters of the nation's economic activity.

Target's disappointing results came in contrast to much stronger results at larger rival Walmart (WMT), which Tuesday reported profit was down only slightly from a year earlier. Walmart also said it expects a 8% to 10% drop in annual earnings, though that's a narrower drop than it previously forecast.

'Feeling the impact of inflation'​

The environment for Target and similar retailers remains "challenging," CEO Brian Cornell told investors Wednesday. But Target is seeing "an encouraging start to the back-to-school" shopping season, he said.

He believes the hit to earnings in the recent quarter shouldn't be repeated: "The high-level story is: The vast majority of the financial impact of these inventory actions is now behind us."

Still, it's a difficult time to be a retailer given the unpredictability of consumer spending activity and the effect of macro factors like inflation.

Target is "hearing from our guests is that they still have spending power but they're increasingly feeling the impact of inflation," said Christina Hennington, the company's chief growth officer. She said the drop in gas prices in the last two months was "encouraging," however.

These trends are not unique to Target. A recent government report echoed Hennington's comments, showing retail sales at general merchandise stores like Target fell 0.7% in July compared to June when adjusted for seasonal factors — even as overall retail sales remained essentially flat in the same period.

And spending at gas stations fell by $1.2 billion in July compared to June due to the lower gas prices Hennington mentioned.

Target's heavier dependence on discretionary vs. Walmart​

These trends are hitting Target harder than rival Walmart, which gets a greater share of its sales and profits from essentials like groceries. Target typically depends more on those discretionary items.

Walmart has a reputation for offering the lowest prices among big-box retailers in many categories — but in its earnings report Tuesday, the company said sales to middle- and higher-income shoppers has increased.
 

marsh

On TB every waking moment

"The West Is Really In Deep Trouble On Many Fronts – Many Self-Inflicted"

WEDNESDAY, AUG 17, 2022 - 12:40 PM
By Michael Every of Rabobank

Byron, Shelley, and Churchill

We have some wildly bullish markets out there right now. US equities have to be beaten back whack-a-mole style, it seems, as regardless of what happens it is ‘always time to buy stocks’. Especially when “important indicators” say it is; until “important voices” say it isn’t.

Moreover, and running counter to that enthusiasm, natural gas prices just hit new 14-year highs in the US and close to record levels in Europe, as other energy sources literally dry up in the summer heat. After a lag, that will drag up other energy with it because of substitution, and then everything else will get dragged up too as a result. For example, zinc surged too yesterday after one of Europe’s largest smelters announced it would halt production in September due to higher energy costs. And lots of things use zinc.

The West is in trouble on the most fundamental level with Europe at the epicentre – as explored in ‘An unfolding gas crisis in Europe’, which concludes: “It it is all but certain that the European economy will face some hardship this winter.” And not only Europe.

We also have wildly bearish takes on such matters, however, among which the recent missive from Pepe Escobar, 'The Second Coming of the Heartland’, takes the cake.

The title deliberately apes Yeats’ ‘The Second Coming’ and its infamous beginning: “Turning and turning in the widening gyre; The falcon cannot hear the falconer; Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, The blood-dimmed tide is loosed, and everywhere; The ceremony of innocence is drowned; The best lack all conviction, while the worst; Are full of passionate intensity.” It also nods to Mackinder’s ‘Heartland Theory’ that who controls the Eurasian “World Island” controls the world. Then he quotes philosopher Byung-Chul Han, who directly channels Marx on the disruptive power of “financialization” to such a degree that the Bearded One might want to sue for plagiarism. All good points.

Yet the writing’s tone and passion leans towards Coleridge, Byron, and Shelley: “This unelected gaggle of insufferable mediocrities --from von der Leyden and Borrell to that piece of Norwegian wood Stoltenberg-- may dream they live in the pre-1914 era, when Europe was at the political centre. Yet now not only “the centre cannot hold” (Yeats) but Eurocrat-infested Europe has been definitely engulfed by the maelstrom, an irrelevant political backwater seriously flirting with reversion to 12th century status.

The physical aspects of the Fall --austerity, inflation, no hot showers, freezing to death to support neo-Nazis in Kiev-- has been preceded, and no Christianized imagery need apply, by the fires of sulphur and brimstone of a Spiritual Fall. The transatlantic masters of those parrots posing as “elites” could never come up with any idea to sell to the Global South centred on harmony and much less “community”…. We still do not have a post-Tik Tok Tintoretto to depict the collective West’s multi-wallowing in Dante-esque chambers of pop Hell. “

And you thought this Daily could get a bit colorful at times!

Of course, this West-bashing is contrasted with the marvels of the Silk Road (and, unspoken, its gas resources), its stalactites, and the spiritual-and-economic promise of a “community of shared future for mankind”. Indeed, all the piece really lacks is, “In Xanadu did Vlad Putin a stately pleasure dome decree.”

On which note, the Russian president just railed against the US-led “unipolar world order”, stating its time “has now come to an end”, and that the only way to diffuse global tensions is by reinforcing “the modern multipolar world system,” – or, to militarily escalate in order to deescalate. That’s as he also just used an arms expo to claim Russia’s weapons were “significantly superior” --read cheaper-- than their western counterparts, as tried to plug them to Asia, Africa, and Latin America. Meanwhile, in economic terms, he stressed: "[Western] hegemony means stagnation for the whole world, for the whole civilization. [It means] obscurantism, the abolition of culture, and neoliberal totalitarianism."

Against this backdrop, many in the West are still focused on whether now is the time to buy frivolous stocks, assets, or housing.

Note that Escobar’s and Putin’s latest offerings come just over a year since the collapse of Afghanistan’s pro-Western democracy; as Iran haggles like a bazaar merchant with the EU and US’s bizarre negotiating team over a nuclear deal – as it looks like the US is walking out without buying despite the EU flashing them a give-away look that says, “But honey, I really want it!”; as Russia embraces North Korea, whom nobody else will touch with a bargepole; as Turkey strikes a closer economic relationship with Moscow too; and as Taiwan remains in the headlines.

Things are really happening, and fast. And the West is really in deep trouble on many fronts – many self-inflicted. Frivolity and been the order of the day for far too long.

Yet if coloring in countries on maps was the key to success then the Soviets would have won the Cold War. Making geographical connections work economically is the key. As covered in ‘Why Bretton Woods 3 Won’t Work’, the countries lining up to forge a ‘Heartland’ are largely large, sparsely populated places that sell the same stuff. Turkmenistan can export gas to Kazakhstan, which can export gas back in return: both can export gas to Russia, in exchange for more gas. Only China stands out as a producer of things - and yet it still relies on Western markets to prop up its own economy and currency, given it has too little demand and far too much supply.

Indeed, not only are we seeing headlines about “multipolar world systems”, but ones saying ‘China’s Belt and Road initiative on brink of crisis as numerous projects fail’; and ‘G7 infrastructure plan to rival Belt and Road Initiative could force Chinese firms to ‘match global standards’’. (None of which surprises someone who years ago gave a presentation titled ‘One Belt, One Road?’)

Moreover, China’s grand strategy actually apes Mahan instead, who said the ‘World Island’ doesn’t matter: coastal areas and oceans do. Ironically, Byron and Shelley would have shared Mahan’s thoughts, through an opium fog, even though they lived before him, because that was the British grand strategy before it was the American or the Chinese. And it can be anyone’s again.

Even the far east of the West such as Australia, whose focus on Xanadu is all about the sad passing of Olivia Newton-John, is now aware of these ‘big picture’ issues. The US is passing bills to try to bring back high-tech industry, and regulations to stop China advancing in the same field. Europe is rearming, and talking about changing its environmental regulations to allow it to dig for home-sourced lithium, cobalt, and graphite. In short, things are starting to stir.

Moreover, rates are going to continue to rise to keep a lid on inflation and, whisper it, to keep capital flowing to the West. The RBNZ is seen going another 50bps today, despite signs of its housing market slowing sharply, though we will look to see if they back another two 50s after that to take rates to 4%. Expect the same trend from the Fed despite the poor US housing data seen twice this week(?) Let’s wait for the latest minutes later today and see. That said, Australia’s new monthly CPI measure sends the message that ‘local inflation has peaked’ according to Bloomberg: and the RBA are still among the least willing to wake up and smell the coffee despite their being replete with commodities making them a geopolitical winner.

In short, the West has made enormous strategic errors, is suffering for it, and will continue to. But that doesn’t mean it can’t get its act together long-term under the sudden realisation of the fight it is in. We’ve been here before, after all.

Churchill, writing on June 5, 1938 noted:

“There is at the present an almost total absence of defence... We have not got a dozen modern anti-aircraft guns in the country…. it is a delusion to think that for the next two or three years there will be any contribution to our defence from [scientists]. As to the R.A.F., it is at present less than one-third of the German Air Force, and the rate of production is at present less than one-third… The Germans know our position very accurately, and it is our own people who are living in a ‘Fool’s Paradise’.”

Yet the British turned it round to win WW2 – albeit with US and then USSR help after 1941. Then again, where is the British pound trading today?

The UK, and the West, must focus on the structural ‘Heartland’ challenge --however flawed that rival also is-- and now scarce resources. That is what economics is supposed to be about: and it does NOT involve cutting interest rates to prop up meme-stonks, pictures of monkeys wearing sunglasses, frivolous consumption, rentier housing markets, or the price of commodities the West is still reliant on from “multipolar” rivals.

Neither is it about tax cuts. Churchill never said, “All I have to offer you is blood, sweat, and tears, lower taxes, and higher house prices.”

There is me going down my own ‘Escobar’ path, perhaps. But I leave the last word to Shelley – and feel free to interpret it however you want:

“I met a traveller from an antique land,
Who said: "Two vast and trunkless legs of stone
Stand in the desert. Near them on the sand,
Half sunk, a shattered visage lies, whose frown

And wrinkled lip and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.

And on the pedestal these words appear:
'My name is Ozymandias, King of Kings: Look on my works, ye mighty, and despair!'

Nothing beside remains. Round the decay,
Of that colossal wreck, boundless and bare,
The lone and level sands stretch far away.”

View: https://youtu.be/T3dpghfRBHE
1:11 min
 

marsh

On TB every waking moment

Joe Biden's Inflation Reduction Act "Secretly" Brought To You By Bill Gates

WEDNESDAY, AUG 17, 2022 - 07:11 AM

The Democrats' "Inflation Reduction Act" - which according to the Congressional Budget Office will raise taxes on the middle class to the tune of $20 billion - not to mention unleash an army of IRS agents on working class Americans over the next decade, was made possible by Bill Gates and (in smaller part) Larry Summers, who have been known to hang out together.

1660777116558.png
Pals hanging out
The bill, of course, was signed yesterday.

View: https://twitter.com/i/status/1559635564248301568
.09 min

In a Tuesday Bloomberg article that reads more like a newsletter for the Gates fan club, the billionaire Microsoft co-founder recalls how earlier this year, as moderate Democratic Senators Joe Manchin and Kyrsten Sinema continued to block the tax-and-spend legislation over concerns that it would raise taxes on the middle class (it will), Gates says he tapped into a relationship with Manchin that he'd been cultivating since at least 2019.

Gates was banking on more than just his trademark optimism about addressing climate change and other seemingly intractable problems that have been his focus since stepping down as Microsoft’s chief executive two decades ago. As he revealed to Bloomberg Green, he has quietly lobbied Manchin and other senators, starting before President Joe Biden had won the White House, in anticipation of a rare moment in which heavy federal spending might be secured for the clean-energy transition.

Those discussions gave him reason to believe the senator from West Virginia would come through for the climate — and he was willing to continue pressing the case himself until the very end. “The last month people felt like, OK, we tried, we're done, it failed,” Gates said. “I believed it was a unique opportunity.” So he tapped into a relationship with Manchin that he’d cultivated for at least three years. “We were able to talk even at a time when he felt people weren’t listening.” -Bloomberg

We know, gag us with a spoon.

Apparently Gates and Manchin's bromance began when the billionaire wooed the West Virgina Senator at a 2019 meal in Seattle, in an effort to garner support for clean-energy policy. Manchin at the time was the senior-most Democrat on the energy committee.

"My dialogue with Joe has been going on for quite a while," said Gates.

After Manchin walked (again) on the bill last December over concerns that it would exacerbate the national debt, inflation, the pandemic, and amid geopolitical uncertainty with Russia, Gates jumped into action. A few weeks later, he met with Manchin and his wife, Gayle Conelly Manchin, at a DC restaurant, where they talked about what West Virginia needed. Manchin understandably wanted to preserve jobs at the center of the US coal industry, while Gates suggested that coal plant workers could simply swap over to nuclear plants - such as those from Gates' TerraPower.

Manchin apparently wasn't convinced, announcing on Feb. 1 that "Build Back Better" (the Inflation Reduction Act's previous iteration) was "dead."

In an effort to convince him otherwise, Democrats pulled together a cadre of economists and other Manchin influencers - including former Treasury Secretary Lawrence Summers, who convinced Manchin that the bill wouldn't raise taxes on the middle class, or add to the deficit.

Collin O’Mara, chief executive officer of the National Wildlife Federation, recruited economists to assuage Manchin’s concerns — including representatives from the University of Chicago and the Wharton School of the University of Pennsylvania. Senator Chris Coons of Delaware brought in a heavyweight: former Treasury Secretary Lawrence Summers, who has spent decades advising Democrats.

The economists were able to “send this signal that [the bill’s] going to help with the deficit,” O’Mara said. “It’s going to be slightly deflationary and it’s going to spur growth and investment in all these areas.” Through this subtle alchemy, clean-energy investments could be reframed for Manchin as a hedge against future spikes in oil and gas prices and a way to potentially export more energy to Europe. -Bloomberg

Gates also sprang into action again on July 7, when Manchin was spotted at the Sun Valley media conference in Idaho - which Gates also attended.

"We had a talk about what was missing, what needed to be done," Gates said. "And then after that it was a lot of phone calls."

Gates looks back at the new law with satisfaction. He achieved what he set out to do. “I will say that it's one of the happier moments of my climate work,” Gates said. “I have two things that excite me about climate work. One is when policy gets done well, and this is by far the biggest moment like that.” His other pleasure comes from interviewing people at climate and clean-tech startups: “I hear about this amazing new way to make steel, cement and chemicals.” -Bloomberg

"I don’t want to take credit for what went on," says Gates - in the article about how he gets credit for what went on.
 
Top