THE CAPE CHARLES MIRROR SEPTEMBER 2, 2023 AT 10:16 PM
Paul R Plante, NYSPE says:
With respect to BIDE-O-NOMICS, Joe Biden’s MASSIVE BORROW-AND-SPEND CORPORATE WELFARE PROGRAM intended to benefit those at the very top of the economic pyramid at the expense of those at the bottom, which is what “an economy from the bottom up and middle out” is really all about, if we ask GOOGLE the question “what does it mean to be predicated,” the answer we get back is as follows, to wit: If an idea or argument is predicated on something, it depends on the existence or truth of this thing.”
So what then is BIDE-O-NOMICS predicated on?
For that answer, we need to drop back in time to July 20, 2022, and “Remarks by President Biden on Actions to Tackle the Climate Crisis” from Brayton Point Power Station in Somerset, Massachusetts, where we have as follows:
THE PRESIDENT: Thank you, thank you, thank you, thank you.
I come here today with a message: As President, I have a responsibility to act with urgency and resolve when our nation faces clear and present danger.
And that’s what climate change is about.
It is literally, not figuratively, a clear and present danger.
The health of our citizens and our communities is literally at stake.
The U.N.’s leading international climate scientists called the latest climate report nothing less than, quote, “code red for humanity.”
Let me say it again: “Code red for humanity.”
It’s not a group of political official — elected officials.
These are the scientists.
end quotes
And as was the case with COVID, those are the “scientists,” which is a very empty word because anybody can call themselves a scientist, given there are no standards or qualifications, who will say exactly what those in positions of power want them to say.
In other words, they are political opportunists, or more appropriately, science whores, and if they were professional engineers, what they are doing would be known as “selling the stamp” in reference to professional engineers affixing their stamp to garbage in an effort to legitimize it.
So BIDE-O-NOMICS is predicated on so-called “climate change” being literally, not figuratively, a clear and present danger, so that the health of our citizens and our communities is literally at stake.
But is that true?
For a glimpse at the answer to that question, let us go to a CNN article titled “Extreme heat has killed 147 people in 5 counties, coroners report” by Rachel Ramirez on August 7, 2023, keeping in mind that CNN is very pro-Joe Biden, where we learn as follows, to wit:
CNN — Extreme heat in the US has killed at least 147 people in just five counties, medical examiners report — a mere snapshot of the fatal toll this searing summer is taking.
end quote
Consider that in January of 2023, the U.S. Population was estimated at 334,233,854, which figure represents an increase of 1,571,393, or 0.47%, from New Year’s Day 2022, and 2,784,573, or 0.84% since Census Day (April 1) 2020.
So where is the “clear and present danger,” people?
If, as the U.N.’s leading international climate scientists are saying, the latest climate report nothing less than, quote, “code red for humanity,” shouldn’t our population be declining drastically, as opposed to increasing?
Going back to Biden-enabler CNN, we have more as follows, to wit:
The deaths reported here occurred in three states that have endured the worst of this summer’s vicious heat: As of early August, 64 had died in Pima County, Arizona; 39 in Maricopa County, Arizona; 26 in Clark County, Nevada; 11 in Webb County, Texas; and seven in Harris County, Texas.
end quotes
And this is the COVID playbook all over again with this “summer’s vicious heat” horsecrap and if we “follow the science,” what we find is that the hot season in Pima County, Arizona lasts for 3.8 months, from May 23 to September 15, with an average daily high temperature above 93°F., while the hottest month of the year in Pima is July, with an average high of 99°F and low of 73°F.
If there is an “average high of 99°F,” then basic high school math tells us that there have to be temperatures above 99°F to have an average of 99°F, so where then is this “vicious heat” Biden-enabler CNN is going on about?
Arizona is hot and has been hot for the last 70 years I have been alive, which is why houses down there are built from adobe to keep them cool.
As to Maricopa County, following the science informs us that the hot season lasts for 3.7 months, from May 27 to September 19, with an average daily high temperature above 97°F., with the hottest month of the year in Maricopa being July, with an average high of 105°F and low of 81°F.
Going to Clark County, Nevada, we find the daily high temperatures in summer increase by 5°F, from 94°F to 99°F, rarely falling below 84°F or exceeding 111°F., and the highest daily average high temperature is 105°F on July 15.
As to Webb County, Texas, it has a hot, semi-arid climate where the summers are usually very hot and dry with temperatures regularly reaching over 90 degrees Fahrenheit, and the annual BestPlaces Comfort Index for Webb County is 6.5 (10=best), which means it is less comfortable than most places in Texas.
And Harris County, Texas has a subtropical climate with hot summers where July is the hottest month of the year with average temperatures ranging from 89 to 93 degrees Fahrenheit, and the annual BestPlaces Comfort Index for Harris County is 6.6 (10=best), which means it is less comfortable than most places in Texas.
And that dose of reality brings us back to July 20, 2022 and “Remarks by President Biden on Actions to Tackle the Climate Crisis” where we have this burst of Bidenesque BULL**** to consider, to wit:
THE PRESIDENT: Climate change is literally an existential threat to our nation and to the world.
So my message today is this: Since Congress is not acting as it should — and these guys here are, but we’re not getting many Republican votes — this is an emergency.
An emergency.
And I will — I will look at it that way.
I said last week and I’ll say it again loud and clear: As President, I’ll use my executive powers to combat climate — the climate crisis in the absence of congressional actions, notwithstanding their incredible action.
(Applause.)
In the coming days, my administration will announce the executive actions we have developed to combat this emergency.
end quotes
And there we have it, people, BIDE-O-NOMICS, Joe’s MASSIVE CORPORATE WELFARE PROGRAM that is breaking the backs of common American citizens, like COVID, is based on fear-mongering and a SCAM.
http://www.capecharlesmirror.com/op-ed- ... ent-841215
On BIDE-O-NOMICS
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 3, 2023 AT 8:47 PM
Paul R Plante, NYSPE says:
So, yes, people, as we can clearly see from the reality we are confronted with above here, BIDE-O-NOMICS is based on nothing more than intentional FALSEHOODS and blatant and naked FEAR-MONGERING by Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, so that Celtic, er, Joe Biden can LOOT our treasury to the tune of TRILLIONS of dollars to reward his political cronies, under the guise of combatting an imaginary emergency, an emergency that only exists in the warped and twisted recesses of what passes for the brain of Robert L. Peters, whoa, pardon me there, I mean Joe Biden, which takes us back to July 20, 2022 and “Remarks by President Biden on Actions to Tackle the Climate Crisis” where we have more Bidenesque BULL**** from Robin Ware to consider, to wit:
Our national security is at stake as well.
And our economy is at risk.
So we have to act.
end quotes
Yes, people, FEAR-MONGERING, just like was the case with COVID – if we don’t do something right now, tomarrow will be too late and we will all be dead, which takes us back to July 20, 2022, to wit:
I’m also proud to point out that my administration approved the first commercial project for offshore wind in America, which is being constructed by Vineyard Winds.
end quotes
Yes, people, he most certainly did, and according to a story in E&E News by Politico titled “4 lawsuits threaten Vineyard Wind” by Benjamin Storrow on 03/29/2023, we have as follows, to wit:
The lawsuits against America’s first major offshore wind project are coming to a head.
Four cases are challenging the federal environmental permit issued to Vineyard Wind, a 62-turbine facility being planned for construction in the waters off Martha’s Vineyard.
A federal judge in Massachusetts heard arguments brought by landowners in two cases in recent weeks.
The other two suits, brought by fishing groups, have been consolidated and will appear before the same judge for oral arguments in Boston on Monday.
The cases against Vineyard Wind allege that the Bureau of Ocean Energy Management conducted an inadequate environmental review when it approved the project by failing to account for its impact on everything from fishermen to the critically endangered North American right whale.
end quotes
And of course it failed to conduct an adequate environmental review when it approved the project by failing to account for its impact on everything from fishermen to the critically endangered North American right whale, because we have an EMERGENCY, and besides, Joe Biden has already determined that there will be no impacts, so an environmental review is not necessary, which takes us back to that story, to wit:
The stakes are high.
The Biden administration is betting that Vineyard Wind will begin an energy revolution in the United States by generating large amounts of carbon-free electricity needed to slash emissions and power the Northeast.
end quotes
And as we follow this story along, we are going to see that bet by the Biden administration which was based on exactly nothing but a dictatorial whim unraveling big time as we see in a New York Post story titled “Why wind and solar power are running out of juice” by Jonathan Lesser on 2 September 2023, to wit:
Green energy and the push to electrify everything have been in the news recently but for all the wrong reasons.
Instead of the green energy nirvana politicians and green energy advocates have promised, economic and physical reality has begun to set in.
Start with the economic realities.
Wind turbine manufacturers like Siemens and General Electric have reported huge losses for the first half of this year, almost $5 billion for the former and $1 billion for the latter.
Among other problems, turbine quality control has suffered, forcing manufacturers such as Siemens and Vestas to incur costly warranty repairs.
Offshore wind developers in Europe and the US are canceling projects because of higher materials and construction costs.
In Massachusetts, Avangrid, the developer of the 1,200 MW Commonwealth Wind project paid $48 million to get out of its existing contract to sell power to ratepayers.
Close by, the developers of the 1,200 MW SouthCoast Wind Project off Martha’s Vineyard will pay about $60 million to exit their existing contract.
Rhode Island Energy, the state’s main electric utility, recently rejected the second Revolution Wind Project because the contract price was too high.
And Ørsted, the Danish government-owned company that is developing the Southfork Wind and Sunrise Wind projects off Long Island — as well as the Ocean Wind project off the New Jersey coast — last week announced that, without additional subsidies and higher contract prices, it will have to write-off billions of dollars in potential losses.
end quotes
Yes, people, more subsidies, which is to say, even more CORPORATE WELFARE, but hey, it is an EMERGENCY after all, which takes us back once again to that story, as follows:
“The administration has put all their political capital on offshore wind and is breaking all the rules in order to do it,” said Robert Henneke, executive director and general counsel for the Texas Public Policy Foundation, which is representing fishing interests in one case.
Henneke claimed that the Biden administration is guilty of hypocrisy, saying the government is relaxing endangered species requirements for offshore wind even as it imposes stringent regulations on other industries.
“The administration’s violation of the [Endangered Species Act] should be a complete bar to the whole project,” he said.
A BOEM spokesperson did not respond to a request for comment, and an official with Vineyard Wind declined to comment.
end quotes
And that takes us back to July 20, 2022, for more Joe Biden, to wit:
Folks, when I think about climate change — and I’ve been saying this for three years — I think jobs.
Climate change, I think jobs.
(Applause.)
Almost 100 wind turbines going up off the coasts of Massachusetts and Rhode Island with ground broken and work underway.
end quotes
And as we see above, those projects are facing serious financial problems, but Joe doesn’t ever talk about that, so back to 20 July 2022, for more, to wit:
We’re going to make sure that the ocean is open for the clean energy of our future, and everything we can do — give a green light to wind power on the Atlantic coast, where my predecessor’s actions only created confusion.
end quote
Yes, people give a GREEN LIGHT, so everybody, birds, fish and whales and people, get the **** out of Joe’s way because he has an existential threat to deal with, and if some whales have to die as a result, well, progress means somebody or something has to be hurt, and besides, whales don’t vote Democrat, so they can go to hell, and back to 20 July 2022 again, to wit:
And today we begin the process to develop wind power in the Gulf of Mexico as well for the first time.
A real opportunity to power millions of additional homes from wind.
end quotes
Which takes us to a Reuters article titled “First US offshore wind auction in Gulf of Mexico attracts paltry interest” by Nichola Groom on August 29, 2023, to wit:
Aug 29 (Reuters) – The Biden administration’s first ever auction of offshore wind development rights in the Gulf of Mexico ended with a single $5.6 million winning bid on Tuesday, reflecting meager demand for the clean energy source in a region known for oil and gas production.
Germany’s RWE won rights to 102,480 acres (41,472 hectares) off Louisiana – the lowest winning bid for a federal offshore wind lease at auction since the Obama administration – while the other two lease areas on offer off Texas received no bids, according to results posted online by the U.S. Bureau of Ocean Energy Management.
The auction was by far the weakest of the four held since President Joe Biden took office in 2021 pledging to accelerate the industry as part of his climate change agenda.
“It is striking just how bad the economics clearly must be in order for two of the three sites to remain unsold … and for the site that was sold to go for such a low price,” said Alon Carmel, a partner at PA Consulting who advises offshore wind companies.
French energy giant TotalEnergies, which is developing offshore wind projects in other U.S. regions, is one of the companies that elected to sit out the sale, despite having qualified to bid.
“Our assessment factoring in wind speeds, competition from other onshore renewables, and competitive power market conditions does not, at this time, justify submitting an offer,” a spokesperson said in a statement.
The Gulf’s lower wind speeds, soft soils and hurricanes are considered challenges to the industry.
The Southeast also has low power prices that could make it harder for higher-cost offshore wind generation to compete for electricity contracts.
The sale also comes at a challenging time for offshore wind.
In recent months, owners of several planned projects in the Northeast have sought to renegotiate or cancel power delivery contracts due to soaring cost inflation.
The sale was cast by the Biden administration as a major milestone for the industry.
end quotes
And going back to 20 July 2022, we have:
Let’s clear the way — let’s clear the way for clean energy and connect these projects to the grid.
I’ve directed my administration to clear every federal hurdle and streamline federal permitting that brings these clean energy projects online right now and right away.
And some of you have already come up and talked to me about that.
(Applause.)
We’re going to make sure that the ocean is open for the clean energy of our future, and everything we can do — give a green light to wind power on the Atlantic coast, where my predecessor’s actions only created confusion.
You all have a duty right now to our economy, to our competitiveness in the world, to the young people in this nation, and to future generations — and that sounds like hyperbole but it’s not; it’s real — to act boldly on climate.
And so does Congress, which — notwithstanding the leadership of the men and women that are here today — has failed in this duty.
Not a single Republican in Congress stepped up to support my climate plan.
Not one.
So, let me be clear: Climate change is an emergency.
And in the coming weeks, I’m going to use the power I have as President to turn these words into formal, official government actions through the appropriate proclamations, executive orders, and regulatory power that a President possesses.
(Applause.)
And when it comes to fighting the climate change — climate change, I will not take no for an answer.
I will do everything in my power to clean our air and water, protect our people’s health, to win the clean energy future.
This, again, sounds like hyperbole, but our children and grandchildren are counting on us.
Not a joke.
Not a joke.
If we don’t keep it below 1.5 degrees Centigrade, we lose it all.
We don’t get to turn it around.
And the world is counting on us.
And this is the United States of America.
When we put our hearts and minds to it, there’s not a single thing beyond our capacity — I mean it — when we act together.
end quotes
And with all that hot air flying out of your computer screen and hitting you smack in the face like a No. 32 Louisville Slugger baseball bat, let’s pause once again for station identification.
http://www.capecharlesmirror.com/op-ed- ... ent-841661
Paul R Plante, NYSPE says:
So, yes, people, as we can clearly see from the reality we are confronted with above here, BIDE-O-NOMICS is based on nothing more than intentional FALSEHOODS and blatant and naked FEAR-MONGERING by Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, so that Celtic, er, Joe Biden can LOOT our treasury to the tune of TRILLIONS of dollars to reward his political cronies, under the guise of combatting an imaginary emergency, an emergency that only exists in the warped and twisted recesses of what passes for the brain of Robert L. Peters, whoa, pardon me there, I mean Joe Biden, which takes us back to July 20, 2022 and “Remarks by President Biden on Actions to Tackle the Climate Crisis” where we have more Bidenesque BULL**** from Robin Ware to consider, to wit:
Our national security is at stake as well.
And our economy is at risk.
So we have to act.
end quotes
Yes, people, FEAR-MONGERING, just like was the case with COVID – if we don’t do something right now, tomarrow will be too late and we will all be dead, which takes us back to July 20, 2022, to wit:
I’m also proud to point out that my administration approved the first commercial project for offshore wind in America, which is being constructed by Vineyard Winds.
end quotes
Yes, people, he most certainly did, and according to a story in E&E News by Politico titled “4 lawsuits threaten Vineyard Wind” by Benjamin Storrow on 03/29/2023, we have as follows, to wit:
The lawsuits against America’s first major offshore wind project are coming to a head.
Four cases are challenging the federal environmental permit issued to Vineyard Wind, a 62-turbine facility being planned for construction in the waters off Martha’s Vineyard.
A federal judge in Massachusetts heard arguments brought by landowners in two cases in recent weeks.
The other two suits, brought by fishing groups, have been consolidated and will appear before the same judge for oral arguments in Boston on Monday.
The cases against Vineyard Wind allege that the Bureau of Ocean Energy Management conducted an inadequate environmental review when it approved the project by failing to account for its impact on everything from fishermen to the critically endangered North American right whale.
end quotes
And of course it failed to conduct an adequate environmental review when it approved the project by failing to account for its impact on everything from fishermen to the critically endangered North American right whale, because we have an EMERGENCY, and besides, Joe Biden has already determined that there will be no impacts, so an environmental review is not necessary, which takes us back to that story, to wit:
The stakes are high.
The Biden administration is betting that Vineyard Wind will begin an energy revolution in the United States by generating large amounts of carbon-free electricity needed to slash emissions and power the Northeast.
end quotes
And as we follow this story along, we are going to see that bet by the Biden administration which was based on exactly nothing but a dictatorial whim unraveling big time as we see in a New York Post story titled “Why wind and solar power are running out of juice” by Jonathan Lesser on 2 September 2023, to wit:
Green energy and the push to electrify everything have been in the news recently but for all the wrong reasons.
Instead of the green energy nirvana politicians and green energy advocates have promised, economic and physical reality has begun to set in.
Start with the economic realities.
Wind turbine manufacturers like Siemens and General Electric have reported huge losses for the first half of this year, almost $5 billion for the former and $1 billion for the latter.
Among other problems, turbine quality control has suffered, forcing manufacturers such as Siemens and Vestas to incur costly warranty repairs.
Offshore wind developers in Europe and the US are canceling projects because of higher materials and construction costs.
In Massachusetts, Avangrid, the developer of the 1,200 MW Commonwealth Wind project paid $48 million to get out of its existing contract to sell power to ratepayers.
Close by, the developers of the 1,200 MW SouthCoast Wind Project off Martha’s Vineyard will pay about $60 million to exit their existing contract.
Rhode Island Energy, the state’s main electric utility, recently rejected the second Revolution Wind Project because the contract price was too high.
And Ørsted, the Danish government-owned company that is developing the Southfork Wind and Sunrise Wind projects off Long Island — as well as the Ocean Wind project off the New Jersey coast — last week announced that, without additional subsidies and higher contract prices, it will have to write-off billions of dollars in potential losses.
end quotes
Yes, people, more subsidies, which is to say, even more CORPORATE WELFARE, but hey, it is an EMERGENCY after all, which takes us back once again to that story, as follows:
“The administration has put all their political capital on offshore wind and is breaking all the rules in order to do it,” said Robert Henneke, executive director and general counsel for the Texas Public Policy Foundation, which is representing fishing interests in one case.
Henneke claimed that the Biden administration is guilty of hypocrisy, saying the government is relaxing endangered species requirements for offshore wind even as it imposes stringent regulations on other industries.
“The administration’s violation of the [Endangered Species Act] should be a complete bar to the whole project,” he said.
A BOEM spokesperson did not respond to a request for comment, and an official with Vineyard Wind declined to comment.
end quotes
And that takes us back to July 20, 2022, for more Joe Biden, to wit:
Folks, when I think about climate change — and I’ve been saying this for three years — I think jobs.
Climate change, I think jobs.
(Applause.)
Almost 100 wind turbines going up off the coasts of Massachusetts and Rhode Island with ground broken and work underway.
end quotes
And as we see above, those projects are facing serious financial problems, but Joe doesn’t ever talk about that, so back to 20 July 2022, for more, to wit:
We’re going to make sure that the ocean is open for the clean energy of our future, and everything we can do — give a green light to wind power on the Atlantic coast, where my predecessor’s actions only created confusion.
end quote
Yes, people give a GREEN LIGHT, so everybody, birds, fish and whales and people, get the **** out of Joe’s way because he has an existential threat to deal with, and if some whales have to die as a result, well, progress means somebody or something has to be hurt, and besides, whales don’t vote Democrat, so they can go to hell, and back to 20 July 2022 again, to wit:
And today we begin the process to develop wind power in the Gulf of Mexico as well for the first time.
A real opportunity to power millions of additional homes from wind.
end quotes
Which takes us to a Reuters article titled “First US offshore wind auction in Gulf of Mexico attracts paltry interest” by Nichola Groom on August 29, 2023, to wit:
Aug 29 (Reuters) – The Biden administration’s first ever auction of offshore wind development rights in the Gulf of Mexico ended with a single $5.6 million winning bid on Tuesday, reflecting meager demand for the clean energy source in a region known for oil and gas production.
Germany’s RWE won rights to 102,480 acres (41,472 hectares) off Louisiana – the lowest winning bid for a federal offshore wind lease at auction since the Obama administration – while the other two lease areas on offer off Texas received no bids, according to results posted online by the U.S. Bureau of Ocean Energy Management.
The auction was by far the weakest of the four held since President Joe Biden took office in 2021 pledging to accelerate the industry as part of his climate change agenda.
“It is striking just how bad the economics clearly must be in order for two of the three sites to remain unsold … and for the site that was sold to go for such a low price,” said Alon Carmel, a partner at PA Consulting who advises offshore wind companies.
French energy giant TotalEnergies, which is developing offshore wind projects in other U.S. regions, is one of the companies that elected to sit out the sale, despite having qualified to bid.
“Our assessment factoring in wind speeds, competition from other onshore renewables, and competitive power market conditions does not, at this time, justify submitting an offer,” a spokesperson said in a statement.
The Gulf’s lower wind speeds, soft soils and hurricanes are considered challenges to the industry.
The Southeast also has low power prices that could make it harder for higher-cost offshore wind generation to compete for electricity contracts.
The sale also comes at a challenging time for offshore wind.
In recent months, owners of several planned projects in the Northeast have sought to renegotiate or cancel power delivery contracts due to soaring cost inflation.
The sale was cast by the Biden administration as a major milestone for the industry.
end quotes
And going back to 20 July 2022, we have:
Let’s clear the way — let’s clear the way for clean energy and connect these projects to the grid.
I’ve directed my administration to clear every federal hurdle and streamline federal permitting that brings these clean energy projects online right now and right away.
And some of you have already come up and talked to me about that.
(Applause.)
We’re going to make sure that the ocean is open for the clean energy of our future, and everything we can do — give a green light to wind power on the Atlantic coast, where my predecessor’s actions only created confusion.
You all have a duty right now to our economy, to our competitiveness in the world, to the young people in this nation, and to future generations — and that sounds like hyperbole but it’s not; it’s real — to act boldly on climate.
And so does Congress, which — notwithstanding the leadership of the men and women that are here today — has failed in this duty.
Not a single Republican in Congress stepped up to support my climate plan.
Not one.
So, let me be clear: Climate change is an emergency.
And in the coming weeks, I’m going to use the power I have as President to turn these words into formal, official government actions through the appropriate proclamations, executive orders, and regulatory power that a President possesses.
(Applause.)
And when it comes to fighting the climate change — climate change, I will not take no for an answer.
I will do everything in my power to clean our air and water, protect our people’s health, to win the clean energy future.
This, again, sounds like hyperbole, but our children and grandchildren are counting on us.
Not a joke.
Not a joke.
If we don’t keep it below 1.5 degrees Centigrade, we lose it all.
We don’t get to turn it around.
And the world is counting on us.
And this is the United States of America.
When we put our hearts and minds to it, there’s not a single thing beyond our capacity — I mean it — when we act together.
end quotes
And with all that hot air flying out of your computer screen and hitting you smack in the face like a No. 32 Louisville Slugger baseball bat, let’s pause once again for station identification.
http://www.capecharlesmirror.com/op-ed- ... ent-841661
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 4, 2023 AT 9:47 PM
Paul Plante says:
Going back to July 20, 2022 and “Remarks by President Biden on Actions to Tackle the Climate Crisis,” we have Joe Biden telling us as follows, to wit:
And our economy is at risk.
So we have to act.
end quotes
It is now a bit more than a year later, and we can see that yes, Joe Biden was very correct when he said a little a year ago that our economy was at risk – from BIDE-O-NOMICS – which takes us to a New York Post article titled “Inflation is rising again, and Bidenomics is still to blame” by the Post Editorial Board on 1 September 2023 for confirmation of that reality, to wit:
Inflation accelerated in July: The Federal Reserve’s preferred measure, the Personal Consumption Expenditures price index, rose 3.3% over one year earlier, up from June’s 3%.
That’s still below the peak of 7% last summer — but heading back up in the wrong direction.
Some claim it’s just a fluke.
In fact, it’s most likely thanks to President Joe Biden’s new spending spree — care of the woefully misnamed “Inflation Reduction Act” kicking in — and means a whole new round of rising prices.
That law, as we noted at the time, actually increased federal spending, and the deficit, in the near-term.
It’s now widely acknowledged that the ginormous spending in Biden’s first big Democrats-only law, the “American Recovery Act” (also ill-named), triggered the inflationary spiral that began in early 2021.
So no surprise that another spending spree is again pushing inflation up.
More: Since the IRA passed, we’ve learned that its supposed $271 billion in green subsidies (over a decade) actually will add up to three or four times as much, with Goldman Sachs estimating it over $1 trillion.
All this, when average Americans are still slammed by Biden’s first inflation wave.
As of July, 61% of US adults said they were living paycheck-to-paycheck, up from 59% last year, per a new report from LendingClub.
That includes 78% of those earning under $50,000 a year and 65% of those earning $50,000 to $100,000.
Credit-card, car-loan and consumer-loan delinquencies are all at their highest levels since the Great Recession of 2008-’09 — and top credit-card companies plan major hikes in fees.
And mortgage rates are the highest since 2001.
Some of that, of course, is the result of the Federal Reserve’s rapid interest-rate hikes.
But the Fed’s moves have been necessary medicine — the only real anti-inflation move out of Washington, even as Biden and his party have kept on goosing spending.
Yet, laughably, the president’s been taking credit for the Fed’s success as part of his “Bidenomics is working” tour, with his media echo chamber singing in chorus.
Never mind that prices are up 16.9% since he took office and real wages down about 3%.
Nor that gas prices are headed back up, and nearly three Americans in four say their financial situation is worsening.
And now comes a sign that inflation isn’t even under control; Joe’s claims to have beaten it are as hollow as his months-long insistence back in 2021 that it was merely “transitory.”
He doesn’t know what he’s talking about — and when he does, it’s a lie.
end quotes
So yes, people, our economy most definitely at risk – from Joe Biden, the Democrats and BIDE-O-NOMICS, which takes us a Business Insider titled “Huge government spending is undermining the Fed’s inflation battle, markets guru Larry McDonald warns” by George Glover on 1 September 2023 for further confirmation of the harm BIDE-O-NOMICS, or MASSIVE BORROW-AND-SPEND, is doing to our economy to our detriment as a nation and as a people, to wit:
Huge government spending is likely undermining the Federal Reserve’s ongoing fight against inflation, according to markets guru Larry McDonald.
“Let’s ‘fight inflation’ with government spending up 10-15% year over year, a trending $1.7 trillion federal deficit for 2023,” the Bear Traps Report founder said on X Thursday.
(The Congressional Budget Office expects the US’s debt pile to rise by around $1.4 trillion this year).
“No one is calling them out… Washington is stepping on the gas (colossal deficit spending) and the brakes (epic rate hikes) at the same time,” McDonald added.
end quotes
So we have the INSANE SCENARIO before us of the federal reserve fighting to undo the harm being done by BIDE-O-NOMICS, which efforts themselves are doing further harm to our economy, and by extension, to we as a people, which is sheer stupidity on steroids, and that takes takes us back to July 20, 2022, for more Joe Biden, to wit:
Folks, when I think about climate change — and I’ve been saying this for three years — I think jobs.
Climate change, I think jobs.
end quotes
And that takes us forward in time to a CNBC article titled “Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000” by Jeff Cox on September 1, 2023, to wit:
The unemployment rate rose sharply in August, as the summer of 2023 neared a close with a job market in slowdown mode.
While the nonfarm payrolls growth continued to defy expectations, previous months’ counts were revised considerably lower.
The July estimate moved down by 30,000 to 157,000.
June was revised lower by 80,000 to 105,000, making that the smallest monthly gain since December 2020.
end quotes
And there we see the game Joe Biden is playing with us as he goes out on the road to tout just how successful BIDE-O-NOMICS is, when he is presenting us with an ILLUSION – he gets a bogus number from HIS labor department headed up by one of his political lackeys, and then he and his team brag up that number, and then quietly, when no one is really looking, the numbers are moved down and Joe is never held to account for having deceived us months before.
And there once again is a good place to pause for station identification and a word from our sponsors concerning everything you better buy right now, because you won’t be able to afford it tomarrow, and then, we will be right back!
http://www.capecharlesmirror.com/op-ed- ... ent-842204
Paul Plante says:
Going back to July 20, 2022 and “Remarks by President Biden on Actions to Tackle the Climate Crisis,” we have Joe Biden telling us as follows, to wit:
And our economy is at risk.
So we have to act.
end quotes
It is now a bit more than a year later, and we can see that yes, Joe Biden was very correct when he said a little a year ago that our economy was at risk – from BIDE-O-NOMICS – which takes us to a New York Post article titled “Inflation is rising again, and Bidenomics is still to blame” by the Post Editorial Board on 1 September 2023 for confirmation of that reality, to wit:
Inflation accelerated in July: The Federal Reserve’s preferred measure, the Personal Consumption Expenditures price index, rose 3.3% over one year earlier, up from June’s 3%.
That’s still below the peak of 7% last summer — but heading back up in the wrong direction.
Some claim it’s just a fluke.
In fact, it’s most likely thanks to President Joe Biden’s new spending spree — care of the woefully misnamed “Inflation Reduction Act” kicking in — and means a whole new round of rising prices.
That law, as we noted at the time, actually increased federal spending, and the deficit, in the near-term.
It’s now widely acknowledged that the ginormous spending in Biden’s first big Democrats-only law, the “American Recovery Act” (also ill-named), triggered the inflationary spiral that began in early 2021.
So no surprise that another spending spree is again pushing inflation up.
More: Since the IRA passed, we’ve learned that its supposed $271 billion in green subsidies (over a decade) actually will add up to three or four times as much, with Goldman Sachs estimating it over $1 trillion.
All this, when average Americans are still slammed by Biden’s first inflation wave.
As of July, 61% of US adults said they were living paycheck-to-paycheck, up from 59% last year, per a new report from LendingClub.
That includes 78% of those earning under $50,000 a year and 65% of those earning $50,000 to $100,000.
Credit-card, car-loan and consumer-loan delinquencies are all at their highest levels since the Great Recession of 2008-’09 — and top credit-card companies plan major hikes in fees.
And mortgage rates are the highest since 2001.
Some of that, of course, is the result of the Federal Reserve’s rapid interest-rate hikes.
But the Fed’s moves have been necessary medicine — the only real anti-inflation move out of Washington, even as Biden and his party have kept on goosing spending.
Yet, laughably, the president’s been taking credit for the Fed’s success as part of his “Bidenomics is working” tour, with his media echo chamber singing in chorus.
Never mind that prices are up 16.9% since he took office and real wages down about 3%.
Nor that gas prices are headed back up, and nearly three Americans in four say their financial situation is worsening.
And now comes a sign that inflation isn’t even under control; Joe’s claims to have beaten it are as hollow as his months-long insistence back in 2021 that it was merely “transitory.”
He doesn’t know what he’s talking about — and when he does, it’s a lie.
end quotes
So yes, people, our economy most definitely at risk – from Joe Biden, the Democrats and BIDE-O-NOMICS, which takes us a Business Insider titled “Huge government spending is undermining the Fed’s inflation battle, markets guru Larry McDonald warns” by George Glover on 1 September 2023 for further confirmation of the harm BIDE-O-NOMICS, or MASSIVE BORROW-AND-SPEND, is doing to our economy to our detriment as a nation and as a people, to wit:
Huge government spending is likely undermining the Federal Reserve’s ongoing fight against inflation, according to markets guru Larry McDonald.
“Let’s ‘fight inflation’ with government spending up 10-15% year over year, a trending $1.7 trillion federal deficit for 2023,” the Bear Traps Report founder said on X Thursday.
(The Congressional Budget Office expects the US’s debt pile to rise by around $1.4 trillion this year).
“No one is calling them out… Washington is stepping on the gas (colossal deficit spending) and the brakes (epic rate hikes) at the same time,” McDonald added.
end quotes
So we have the INSANE SCENARIO before us of the federal reserve fighting to undo the harm being done by BIDE-O-NOMICS, which efforts themselves are doing further harm to our economy, and by extension, to we as a people, which is sheer stupidity on steroids, and that takes takes us back to July 20, 2022, for more Joe Biden, to wit:
Folks, when I think about climate change — and I’ve been saying this for three years — I think jobs.
Climate change, I think jobs.
end quotes
And that takes us forward in time to a CNBC article titled “Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000” by Jeff Cox on September 1, 2023, to wit:
The unemployment rate rose sharply in August, as the summer of 2023 neared a close with a job market in slowdown mode.
While the nonfarm payrolls growth continued to defy expectations, previous months’ counts were revised considerably lower.
The July estimate moved down by 30,000 to 157,000.
June was revised lower by 80,000 to 105,000, making that the smallest monthly gain since December 2020.
end quotes
And there we see the game Joe Biden is playing with us as he goes out on the road to tout just how successful BIDE-O-NOMICS is, when he is presenting us with an ILLUSION – he gets a bogus number from HIS labor department headed up by one of his political lackeys, and then he and his team brag up that number, and then quietly, when no one is really looking, the numbers are moved down and Joe is never held to account for having deceived us months before.
And there once again is a good place to pause for station identification and a word from our sponsors concerning everything you better buy right now, because you won’t be able to afford it tomarrow, and then, we will be right back!
http://www.capecharlesmirror.com/op-ed- ... ent-842204
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 5, 2023 AT 7:46 PM
Paul Plante says:
It is not for nothing that I call the Cape Charles Mirror a GRAND PALLADIUM (something that affords effectual protection or security) of our LIBERTY as a free people, precisely because the Cape Charles Mirror is the one place remaining in all of America where we common folks with no bankroll or political clout, but who are possessed of our minds and the ability to engage in critical thinking, can engage in an analysis of these times we are living in, which brings us to a New York Post article titled “The media is finally waking up to the sham stats behind Biden’s economy boasts” by James Bovard on 5 September 2023, for a glimpse of why I think that is true about the Cape Charles Mirror, to wit:
How could Washington’s “best and brightest” be so clueless for so long?
end quotes
They are clueless because Washington’s “best” are really not very bright, at all, and in fact, they really are quite stupid, but that is why they work in Washington, because that stupidity makes them politically dependable – people who will say what needs to be said when it needs to be said, no questions asked, which takes us back to the article, to wit:
After perennially and uncritically repeating President Biden’s false claims about cutting the federal budget deficit, The Washington Post admitted Sunday that Biden will double the deficit this year to $2 trillion.
The paper’s elite editors and reporters are mystified that “U.S. deficit explodes even as economy grows.”
end quotes
And while they are confused and mystified, we here at the Cape Charles Mirror have been all over that reality for some time now, because we here at the Cape Charles Mirror are what are known as CITIZENS who believe the government is answerable to us, not the converse.
Going back to the article it continues, as follows, to wit:
But did the Beltway get suckered on a Biden boom that exists largely due to sham statistics?
end quotes
How about rephrasing that as they colluded with the Biden regime to sucker us, because that is much closer to the truth and it is consistent with the role the Washington Post has been playing since at least the Viet Nam times, if not before, feeding us political BULL**** disguised as “news,” which again takes us back to the article, to wit:
Americans have seen years of bait-and-switch statistics — glorious job-growth numbers followed by downward revisions long after the victory lap.
end quotes
And in the post above here, courtesy of the Cape Charles Mirror and its political independence, we have been talking about exactly that, which again takes us back to the New York Post, to wit:
Almost all the “errors” in federal economic reports have been biased in Biden’s favor.
How much of recent economic growth has been a statistical mirage or a political fraud?
The Washington Post laments that “the surge in red ink has confounded many economists’ expectations.”
Maybe DC needs economists who look at something aside from presidential press releases — such as the ledgers of federal outlays and revenue.
Federal spending increased 16% in fiscal year 2023 — at the same time tax revenue plunged by 7%.
Soaring budget deficits should be a surprise only to people who failed arithmetic in fifth grade.
The Biden Deficit Explosion changes the storyline on the spring debt-ceiling showdown.
At the time that compromise was brokered, House Speaker Kevin McCarthy boasted, “The systemic reforms we set in place mark the beginning of historic change in Washington.”
But as former Republican Rep. Justin Amash observed, “Biden got the biggest win in the ‘deal’ with a debt limit suspension . . . until 2025.”
“The rest is smoke and mirrors.”
Naming that deal the Fiscal Responsibility Act was a legislative disgrace for a bill that authorized perpetual trillion-dollar deficits.
Luckily for Congress, budget deals are not covered by federal regulations prohibiting financial fraud.
Government spending equals power for politicians.
Asking politicians to reduce spending is like asking a king to abdicate his throne.
Biden said in May he wanted federal courts to rule the president is entitled to unlimited spending thanks to his perverse interpretation of the 14th Amendment.
But the real problem there — and with Biden’s reckless spending — is with the 13th Amendment, which prohibited involuntary servitude.
Americans are increasingly seeing their financial independence ravaged thanks to DC’s plundering and blundering.
The dollar has lost 17% of its purchasing power since Biden became president.
Home mortgage rates have nearly tripled to 7.5%, and consumer credit-card interest rates have almost doubled.
Mr. ‘Middle-Class’
Biden reminded listeners Monday his nickname was “Middle-Class Joe.”
That honorific is proof of the craven press coverage he has almost always received.
In 1974, he moved into one of the largest mansions in Delaware.
NPR reported in 2019 that Biden had earned $17 million since leaving office.
His connections to an endless array of shell companies and wire transfers from shady foreigners are also untypical for the middle class.
Is the latest focus on Biden’s soaring deficits a sign the liberal elite is ready to toss him overboard ahead of the 2024 presidential election?
Team Biden claims to have everything under control, but was shocked and outraged last month when US debt was officially downgraded by a top credit-rating firm.
Perhaps The Washington Post’s readers are comforted by the assurance that the US budget crisis is not nearly as bad as Argentina.
But that is the Scarlet A-word for any discussion of the specter of America plunging into downward financial and economic spirals.
end quotes
Could not have said it any better, myself!
http://www.capecharlesmirror.com/op-ed- ... ent-842714
Paul Plante says:
It is not for nothing that I call the Cape Charles Mirror a GRAND PALLADIUM (something that affords effectual protection or security) of our LIBERTY as a free people, precisely because the Cape Charles Mirror is the one place remaining in all of America where we common folks with no bankroll or political clout, but who are possessed of our minds and the ability to engage in critical thinking, can engage in an analysis of these times we are living in, which brings us to a New York Post article titled “The media is finally waking up to the sham stats behind Biden’s economy boasts” by James Bovard on 5 September 2023, for a glimpse of why I think that is true about the Cape Charles Mirror, to wit:
How could Washington’s “best and brightest” be so clueless for so long?
end quotes
They are clueless because Washington’s “best” are really not very bright, at all, and in fact, they really are quite stupid, but that is why they work in Washington, because that stupidity makes them politically dependable – people who will say what needs to be said when it needs to be said, no questions asked, which takes us back to the article, to wit:
After perennially and uncritically repeating President Biden’s false claims about cutting the federal budget deficit, The Washington Post admitted Sunday that Biden will double the deficit this year to $2 trillion.
The paper’s elite editors and reporters are mystified that “U.S. deficit explodes even as economy grows.”
end quotes
And while they are confused and mystified, we here at the Cape Charles Mirror have been all over that reality for some time now, because we here at the Cape Charles Mirror are what are known as CITIZENS who believe the government is answerable to us, not the converse.
Going back to the article it continues, as follows, to wit:
But did the Beltway get suckered on a Biden boom that exists largely due to sham statistics?
end quotes
How about rephrasing that as they colluded with the Biden regime to sucker us, because that is much closer to the truth and it is consistent with the role the Washington Post has been playing since at least the Viet Nam times, if not before, feeding us political BULL**** disguised as “news,” which again takes us back to the article, to wit:
Americans have seen years of bait-and-switch statistics — glorious job-growth numbers followed by downward revisions long after the victory lap.
end quotes
And in the post above here, courtesy of the Cape Charles Mirror and its political independence, we have been talking about exactly that, which again takes us back to the New York Post, to wit:
Almost all the “errors” in federal economic reports have been biased in Biden’s favor.
How much of recent economic growth has been a statistical mirage or a political fraud?
The Washington Post laments that “the surge in red ink has confounded many economists’ expectations.”
Maybe DC needs economists who look at something aside from presidential press releases — such as the ledgers of federal outlays and revenue.
Federal spending increased 16% in fiscal year 2023 — at the same time tax revenue plunged by 7%.
Soaring budget deficits should be a surprise only to people who failed arithmetic in fifth grade.
The Biden Deficit Explosion changes the storyline on the spring debt-ceiling showdown.
At the time that compromise was brokered, House Speaker Kevin McCarthy boasted, “The systemic reforms we set in place mark the beginning of historic change in Washington.”
But as former Republican Rep. Justin Amash observed, “Biden got the biggest win in the ‘deal’ with a debt limit suspension . . . until 2025.”
“The rest is smoke and mirrors.”
Naming that deal the Fiscal Responsibility Act was a legislative disgrace for a bill that authorized perpetual trillion-dollar deficits.
Luckily for Congress, budget deals are not covered by federal regulations prohibiting financial fraud.
Government spending equals power for politicians.
Asking politicians to reduce spending is like asking a king to abdicate his throne.
Biden said in May he wanted federal courts to rule the president is entitled to unlimited spending thanks to his perverse interpretation of the 14th Amendment.
But the real problem there — and with Biden’s reckless spending — is with the 13th Amendment, which prohibited involuntary servitude.
Americans are increasingly seeing their financial independence ravaged thanks to DC’s plundering and blundering.
The dollar has lost 17% of its purchasing power since Biden became president.
Home mortgage rates have nearly tripled to 7.5%, and consumer credit-card interest rates have almost doubled.
Mr. ‘Middle-Class’
Biden reminded listeners Monday his nickname was “Middle-Class Joe.”
That honorific is proof of the craven press coverage he has almost always received.
In 1974, he moved into one of the largest mansions in Delaware.
NPR reported in 2019 that Biden had earned $17 million since leaving office.
His connections to an endless array of shell companies and wire transfers from shady foreigners are also untypical for the middle class.
Is the latest focus on Biden’s soaring deficits a sign the liberal elite is ready to toss him overboard ahead of the 2024 presidential election?
Team Biden claims to have everything under control, but was shocked and outraged last month when US debt was officially downgraded by a top credit-rating firm.
Perhaps The Washington Post’s readers are comforted by the assurance that the US budget crisis is not nearly as bad as Argentina.
But that is the Scarlet A-word for any discussion of the specter of America plunging into downward financial and economic spirals.
end quotes
Could not have said it any better, myself!
http://www.capecharlesmirror.com/op-ed- ... ent-842714
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 6, 2023 AT 5:44 PM
Paul Plante says:
So recapping here, people, what has BIDE-O-NOMICS brought us as a people and as a nation?
How about CHAOS?
As Joe Biden himself would say, and does over and over, you think I’m kidding?
Not a joke!
And to see what I am referring to, let’s go to a Rigzone article titled “Oil Soars to $90 as Supply Cuts Extend to Year End” by Bloomberg, Alex Longley, Grant Smith and Julia Fanzeres on September 05, 2023, where we have this dose of reality to consider, to wit:
Brent oil rose above $90 a barrel for the first time since November as the largest OPEC+ producers extended their supply cuts to year-end.
In a move that risks a fresh inflationary impetus for the global economy, Saudi Arabia will continue its unilateral production cutback of 1 million barrels a day until December, according to a statement on the state-run press agency.
The price increase will likely spur displeasure in the US, where the Biden administration seeks to stave off the threat of $4-a-gallon gasoline.
Prices are currently the highest seasonal level in more than a decade even as the Labor Day holiday marked the end of the US summer driving season.
A renewed inflationary spike would squeeze consumers and risks derailing efforts by central bankers across the globe to quell inflation.
The United States has “regular engagement with the Saudis at multiple levels — with their energy minister, with their leadership,” National Security Advisor Jake Sullivan told reporters at a briefing Tuesday, after the OPEC+ decision.
“And that will continue and we will make sure that they understand where we stand, and we will come to understand where they stand as well.”
end quotes
For the record, gas here in New York state has been above $4.00 per gallon for some time now, and once again will be jumping up, as Joe Biden tries to convince us that BIDE-O-NOMICS is bringing inflation down, and if anyone thinks inflation is going back to 2%, they are delusional, as we see in a Reuters article titled “Full impact of Fed hikes still to be seen in real economy, ex-vice chair Blinder says” by Lisa Pauline Mattackal on September 1, 2023, to wit:
The ‘last mile’ of bringing inflation down may prove difficult for the Fed, Blinder said, adding that the central bank won’t be “stubborn” if inflation settles somewhat above its stated 2% goal.
“Once that first digit of core PCE gets to be 2%, while maybe the second digit is 2.8%, I think the Fed is going to start getting relaxed about inflation,” he said.
“They may conclude that the output and employment cost of getting from 2.8% to 2% is just very high,” Blinder said, adding, however, that they “won’t come anywhere close” to publicly indicating a shift in the inflation goal.
end quotes
Yes, people, they will just keep lying to us, telling us that they are fixin’ to get with it with respect to reducing inflation, when they have no real intent to do so, and meanwhile, according to a Reuters article titled “US unemployment rate spikes to 3.8%; labor market still has momentum” by Lucia Mutikani on September 1, 2023, we have another dose of the reality BIDE-O-NOMICS has created in our lives, to wit:
WASHINGTON, Sept 1 (Reuters) – U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
end quote
So much for Joe Biden’s specious claims about all the jobs his administration has supposedly created as compared with any other administration in the history of this nation, and while we are on the subject of the CHAOS caused by BIDE-O-NOMICS, not a joke, let us go to a Fox Business News article titled, quite appropriately, “Latest economic data shows Fed ‘not making any progress’ on inflation: ‘It’s a real mess,’ expert warns” by Madeline Coggins on 2 September 2023, to wit:
Despite the Federal Reserve’s attempt to combat crippling inflation, one expert argued the latest jobs report and inflation data indicate the central bank is “not making any progress” in achieving its target of 2% inflation.
“It shows that the Fed is not making any progress in its inflation fight because consumers keep spending and reducing their savings in spite of the rate hikes,” Euro Pacific Asset Management chief economist Peter Schiff told Fox News Digital.
“The rate hikes are supposed to reduce spending and increase savings.”
“That’s how they bring down inflation.”
“But nothing has worked, and so inflation is going to get worse.”
end quotes
And inflation getting worse is what is causing the CHAOS, people, which is the opposite of STABILITY, which takes us back to that article for more, to wit:
Among numerous sets of soft economic data, the personal consumption expenditures (PCE) index showed that consumer prices rose 0.2% from the previous month, according to the Labor Department.
On an annual basis, prices climbed 3.3% — up from 3% the previous month, underscoring the challenge of taming high inflation.
Core prices, which strip out the more volatile measurements of food and energy, climbed 0.2% from the previous month and 4.2% from the previous year.
Schiff noted the PCE data was “significant” because of the “big spike in spending, but a very small gain in incomes.”
“The way consumers handled that was raiding their savings.”
“The savings rate plunged down to 3.5%.”
“That’s a sign that the economy is weak because consumers need that rainy day fund because it’s raining.”
“They’re having a hard time.”
The report also contained sharp downward revisions to job growth earlier this summer.
Gains for June and July were revised down by a total of 110,000 jobs to a respective 105,000 and 157,000, the government said, suggesting that the labor market is weaker than it previously appeared.
Schiff pointed out the jobs report is “a continuation of what’s been going on all year.”
“This is the seventh consecutive downward revision to the prior month.”
“And they’re not small revisions.”
“They’re significant,” he stressed.
“If we’ve done something seven times in a row, it doesn’t seem very random because if these were random numbers, sometimes they’d be too high, sometimes they’d be too low.”
“This is stagflation,” he said.
“The economy is weakening, the labor market is weakening, but consumer prices are strengthening.”
“The Fed’s at 5.5%.”
“They’re no closer to getting 2% inflation than when they had rates at zero.”
“Meanwhile, the budget deficits are higher now than they were when rates were at zero.”
“So the government is spending more instead of less.”
“So nothing has worked, and the markets are completely wrong on their benign outlook for future inflation.”
Ultimately, Schiff says the Fed will likely announce another quarter or half point hike, but again emphasized the move will not “make a difference.”
“They already went from zero to 5.5%, and it hasn’t done anything.”
“So what’s an extra quarter point or a half point?”
“It’s nothing,” he said.
“We actually need much higher interest rates.”
“The problem is we can’t afford them.”
“So any interest rate high enough to fight inflation is too high for the markets.”
“And in fact, not only does the Fed create a recession.”
“But it creates a financial crisis, and that financial crisis will be considerably worse than the one we had in 2008,” he concluded.
end quotes
CHAOS, people!
Beware, train wreck ahead!
And with that said, let us once again cut to station identification.
http://www.capecharlesmirror.com/op-ed- ... ent-843242
Paul Plante says:
So recapping here, people, what has BIDE-O-NOMICS brought us as a people and as a nation?
How about CHAOS?
As Joe Biden himself would say, and does over and over, you think I’m kidding?
Not a joke!
And to see what I am referring to, let’s go to a Rigzone article titled “Oil Soars to $90 as Supply Cuts Extend to Year End” by Bloomberg, Alex Longley, Grant Smith and Julia Fanzeres on September 05, 2023, where we have this dose of reality to consider, to wit:
Brent oil rose above $90 a barrel for the first time since November as the largest OPEC+ producers extended their supply cuts to year-end.
In a move that risks a fresh inflationary impetus for the global economy, Saudi Arabia will continue its unilateral production cutback of 1 million barrels a day until December, according to a statement on the state-run press agency.
The price increase will likely spur displeasure in the US, where the Biden administration seeks to stave off the threat of $4-a-gallon gasoline.
Prices are currently the highest seasonal level in more than a decade even as the Labor Day holiday marked the end of the US summer driving season.
A renewed inflationary spike would squeeze consumers and risks derailing efforts by central bankers across the globe to quell inflation.
The United States has “regular engagement with the Saudis at multiple levels — with their energy minister, with their leadership,” National Security Advisor Jake Sullivan told reporters at a briefing Tuesday, after the OPEC+ decision.
“And that will continue and we will make sure that they understand where we stand, and we will come to understand where they stand as well.”
end quotes
For the record, gas here in New York state has been above $4.00 per gallon for some time now, and once again will be jumping up, as Joe Biden tries to convince us that BIDE-O-NOMICS is bringing inflation down, and if anyone thinks inflation is going back to 2%, they are delusional, as we see in a Reuters article titled “Full impact of Fed hikes still to be seen in real economy, ex-vice chair Blinder says” by Lisa Pauline Mattackal on September 1, 2023, to wit:
The ‘last mile’ of bringing inflation down may prove difficult for the Fed, Blinder said, adding that the central bank won’t be “stubborn” if inflation settles somewhat above its stated 2% goal.
“Once that first digit of core PCE gets to be 2%, while maybe the second digit is 2.8%, I think the Fed is going to start getting relaxed about inflation,” he said.
“They may conclude that the output and employment cost of getting from 2.8% to 2% is just very high,” Blinder said, adding, however, that they “won’t come anywhere close” to publicly indicating a shift in the inflation goal.
end quotes
Yes, people, they will just keep lying to us, telling us that they are fixin’ to get with it with respect to reducing inflation, when they have no real intent to do so, and meanwhile, according to a Reuters article titled “US unemployment rate spikes to 3.8%; labor market still has momentum” by Lucia Mutikani on September 1, 2023, we have another dose of the reality BIDE-O-NOMICS has created in our lives, to wit:
WASHINGTON, Sept 1 (Reuters) – U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
end quote
So much for Joe Biden’s specious claims about all the jobs his administration has supposedly created as compared with any other administration in the history of this nation, and while we are on the subject of the CHAOS caused by BIDE-O-NOMICS, not a joke, let us go to a Fox Business News article titled, quite appropriately, “Latest economic data shows Fed ‘not making any progress’ on inflation: ‘It’s a real mess,’ expert warns” by Madeline Coggins on 2 September 2023, to wit:
Despite the Federal Reserve’s attempt to combat crippling inflation, one expert argued the latest jobs report and inflation data indicate the central bank is “not making any progress” in achieving its target of 2% inflation.
“It shows that the Fed is not making any progress in its inflation fight because consumers keep spending and reducing their savings in spite of the rate hikes,” Euro Pacific Asset Management chief economist Peter Schiff told Fox News Digital.
“The rate hikes are supposed to reduce spending and increase savings.”
“That’s how they bring down inflation.”
“But nothing has worked, and so inflation is going to get worse.”
end quotes
And inflation getting worse is what is causing the CHAOS, people, which is the opposite of STABILITY, which takes us back to that article for more, to wit:
Among numerous sets of soft economic data, the personal consumption expenditures (PCE) index showed that consumer prices rose 0.2% from the previous month, according to the Labor Department.
On an annual basis, prices climbed 3.3% — up from 3% the previous month, underscoring the challenge of taming high inflation.
Core prices, which strip out the more volatile measurements of food and energy, climbed 0.2% from the previous month and 4.2% from the previous year.
Schiff noted the PCE data was “significant” because of the “big spike in spending, but a very small gain in incomes.”
“The way consumers handled that was raiding their savings.”
“The savings rate plunged down to 3.5%.”
“That’s a sign that the economy is weak because consumers need that rainy day fund because it’s raining.”
“They’re having a hard time.”
The report also contained sharp downward revisions to job growth earlier this summer.
Gains for June and July were revised down by a total of 110,000 jobs to a respective 105,000 and 157,000, the government said, suggesting that the labor market is weaker than it previously appeared.
Schiff pointed out the jobs report is “a continuation of what’s been going on all year.”
“This is the seventh consecutive downward revision to the prior month.”
“And they’re not small revisions.”
“They’re significant,” he stressed.
“If we’ve done something seven times in a row, it doesn’t seem very random because if these were random numbers, sometimes they’d be too high, sometimes they’d be too low.”
“This is stagflation,” he said.
“The economy is weakening, the labor market is weakening, but consumer prices are strengthening.”
“The Fed’s at 5.5%.”
“They’re no closer to getting 2% inflation than when they had rates at zero.”
“Meanwhile, the budget deficits are higher now than they were when rates were at zero.”
“So the government is spending more instead of less.”
“So nothing has worked, and the markets are completely wrong on their benign outlook for future inflation.”
Ultimately, Schiff says the Fed will likely announce another quarter or half point hike, but again emphasized the move will not “make a difference.”
“They already went from zero to 5.5%, and it hasn’t done anything.”
“So what’s an extra quarter point or a half point?”
“It’s nothing,” he said.
“We actually need much higher interest rates.”
“The problem is we can’t afford them.”
“So any interest rate high enough to fight inflation is too high for the markets.”
“And in fact, not only does the Fed create a recession.”
“But it creates a financial crisis, and that financial crisis will be considerably worse than the one we had in 2008,” he concluded.
end quotes
CHAOS, people!
Beware, train wreck ahead!
And with that said, let us once again cut to station identification.
http://www.capecharlesmirror.com/op-ed- ... ent-843242
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 7, 2023 AT 10:30 AM
Paul R Plante, NYSPE says:
CLIMATE GRIFT, people!
That is a term unique to the Cape Charles Mirror, the GRAND PALLADIUM of our LIBERTY, that you do not come across in the gelded main-stream and legacy media, especially the media that acts as protectors and enablers of American dictator Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, the FATHER of BIDE-O-NOMICS, the massive BORROW-AND-SPEND CORPORATE WELFARE program that is transforming our economy from a free-market system to one based on Marxist CENTRAL PLANNING, all based on a GREAT BIG LIE that is known as a CLIMATE CRISIS, which “crisis” is a manufactured one.
GRIFT, of course, is defined as a SWINDLE, which is the use of deception to deprive someone of money, or a fraudulent scheme or action, and just yesterday, in a New York Post article titled “As a scientist, I’m not allowed to tell the full truth about climate change” by Patrick T. Brown on 6 September 2023, we had a member of the “CLIMATE GRIFT SCIENTIFIC COMMUNITY,” the FRAUDSTERS or SCIENCE WHORES who support Joe Biden’s CLIMATE CRISIS SCAM, one with a guilty conscience, come forth to reveal the inner workings of how the GRIFT or SCAM actually works, which expose not surprisingly drew a swift retort from Dr Magdalena Skipper, the editor-in-chief of one of the world’s leading academic journals who rebuked this “scientist” who claimed that research about climate change is rejected if it does not “support certain narratives,” which of course is how that game is played.
As to how the game is played, and believe me, people, speaking as a professional engineer who began his career back in the 1960s, and who has seen a lot of water go over the dam since then, this is nothing new, just more pervasive now, given the HUGE amounts of money at play for those with no consciences who are in the game for “their pocket,” we have as follows from that public confession, to wit:
I am a climate scientist.
And while climate change is an important factor affecting wildfires over many parts of the world, it isn’t close to the only factor that deserves our sole focus.
So why does the press focus so intently on climate change as the root cause?
Perhaps for the same reasons I just did in an academic paper about wildfires in Nature, one of the world’s most prestigious journals: it fits a simple storyline that rewards the person telling it.
The paper I just published — “Climate warming increases extreme daily wildfire growth risk in California” — focuses exclusively on how climate change has affected extreme wildfire behavior.
I knew not to try to quantify key aspects other than climate change in my research because it would dilute the story that prestigious journals like Nature and its rival, Science, want to tell.
This matters because it is critically important for scientists to be published in high-profile journals; in many ways, they are the gatekeepers for career success in academia.
And the editors of these journals have made it abundantly clear, both by what they publish and what they reject, that they want climate papers that support certain preapproved narratives — even when those narratives come at the expense of broader knowledge for society.
To put it bluntly, climate science has become less about understanding the complexities of the world and more about serving as a kind of Cassandra, urgently warning the public about the dangers of climate change.
However understandable this instinct may be, it distorts a great deal of climate science research, misinforms the public, and most importantly, makes practical solutions more difficult to achieve.
Why is this happening?
It starts with the fact that a researcher’s career depends on his or her work being cited widely and perceived as important.
This triggers the self-reinforcing feedback loops of name recognition, funding, quality applications from aspiring PhD students and postdocs, and of course, accolades.
But as the number of researchers has skyrocketed in recent years — there are close to six times more PhDs earned in the U.S. each year than there were in the early 1960s — it has become more difficult than ever to stand out from the crowd.
So while there has always been a tremendous premium placed on publishing in journals like Nature and Science, it’s also become extraordinarily more competitive.
In theory, scientific research should prize curiosity, dispassionate objectivity, and a commitment to uncovering the truth.
Surely those are the qualities that editors of scientific journals should value.
In reality, though, the biases of the editors (and the reviewers they call upon to evaluate submissions) exert a major influence on the collective output of entire fields.
They select what gets published from a large pool of entries, and in doing so, they also shape how research is conducted more broadly.
Savvy researchers tailor their studies to maximize the likelihood that their work is accepted.
I know this because I am one of them.
Here’s how it works.
The first thing the astute climate researcher knows is that his or her work should support the mainstream narrative — namely, that the effects of climate change are both pervasive and catastrophic and that the primary way to deal with them is not by employing practical adaptation measures like stronger, more resilient infrastructure, better zoning and building codes, more air conditioning — or in the case of wildfires, better forest management or undergrounding power lines — but through policies like the Inflation Reduction Act, aimed at reducing greenhouse gas emissions.
This type of framing, with the influence of climate change unrealistically considered in isolation, is the norm for high-profile research papers.
This leads to a second unspoken rule in writing a successful climate paper.
The authors should ignore — or at least downplay — practical actions that can counter the impact of climate change.
Here’s a third trick: be sure to focus on metrics that will generate the most eye-popping numbers.
Similarly, it is standard practice to calculate impacts for scary hypothetical future warming scenarios that strain credibility while ignoring potential changes in technology and resilience that would lessen the impact.
Those scenarios always make for good headlines.
As to why I followed the formula despite my criticisms, the answer is simple: I wanted the research to be published in the highest profile venue possible.
When I began the research for this paper in 2020, I was a new assistant professor needing to maximize my prospects for a successful career.
When I had previously attempted to deviate from the formula, my papers were rejected out of hand by the editors of distinguished journals, and I had to settle for less prestigious outlets.
To put it another way, I sacrificed contributing the most valuable knowledge for society in order for the research to be compatible with the confirmation bias of the editors and reviewers of the journals I was targeting.
I left academia over a year ago, partially because I felt the pressures put on academic scientists caused too much of the research to be distorted.
But climate scientists shouldn’t have to exile themselves from academia to publish the most useful versions of their research.
We need a culture change across academia and elite media that allows for a much broader conversation on societal resilience to climate.
The media, for instance, should stop accepting these papers at face value and do some digging on what’s been left out.
The editors of the prominent journals need to expand beyond a narrow focus that pushes the reduction of greenhouse gas emissions.
And the researchers themselves need to start standing up to editors, or find other places to publish.
What really should matter isn’t citations for the journals, clicks for the media, or career status for the academics — but research that actually helps society.
end quotes
And after a pause for station identification, we will be back with more on Joe Biden’s CLIMATE CRISIS GRIFT, so stay tuned and don’t touch that dial!
http://www.capecharlesmirror.com/op-ed- ... ent-843723
Paul R Plante, NYSPE says:
CLIMATE GRIFT, people!
That is a term unique to the Cape Charles Mirror, the GRAND PALLADIUM of our LIBERTY, that you do not come across in the gelded main-stream and legacy media, especially the media that acts as protectors and enablers of American dictator Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, the FATHER of BIDE-O-NOMICS, the massive BORROW-AND-SPEND CORPORATE WELFARE program that is transforming our economy from a free-market system to one based on Marxist CENTRAL PLANNING, all based on a GREAT BIG LIE that is known as a CLIMATE CRISIS, which “crisis” is a manufactured one.
GRIFT, of course, is defined as a SWINDLE, which is the use of deception to deprive someone of money, or a fraudulent scheme or action, and just yesterday, in a New York Post article titled “As a scientist, I’m not allowed to tell the full truth about climate change” by Patrick T. Brown on 6 September 2023, we had a member of the “CLIMATE GRIFT SCIENTIFIC COMMUNITY,” the FRAUDSTERS or SCIENCE WHORES who support Joe Biden’s CLIMATE CRISIS SCAM, one with a guilty conscience, come forth to reveal the inner workings of how the GRIFT or SCAM actually works, which expose not surprisingly drew a swift retort from Dr Magdalena Skipper, the editor-in-chief of one of the world’s leading academic journals who rebuked this “scientist” who claimed that research about climate change is rejected if it does not “support certain narratives,” which of course is how that game is played.
As to how the game is played, and believe me, people, speaking as a professional engineer who began his career back in the 1960s, and who has seen a lot of water go over the dam since then, this is nothing new, just more pervasive now, given the HUGE amounts of money at play for those with no consciences who are in the game for “their pocket,” we have as follows from that public confession, to wit:
I am a climate scientist.
And while climate change is an important factor affecting wildfires over many parts of the world, it isn’t close to the only factor that deserves our sole focus.
So why does the press focus so intently on climate change as the root cause?
Perhaps for the same reasons I just did in an academic paper about wildfires in Nature, one of the world’s most prestigious journals: it fits a simple storyline that rewards the person telling it.
The paper I just published — “Climate warming increases extreme daily wildfire growth risk in California” — focuses exclusively on how climate change has affected extreme wildfire behavior.
I knew not to try to quantify key aspects other than climate change in my research because it would dilute the story that prestigious journals like Nature and its rival, Science, want to tell.
This matters because it is critically important for scientists to be published in high-profile journals; in many ways, they are the gatekeepers for career success in academia.
And the editors of these journals have made it abundantly clear, both by what they publish and what they reject, that they want climate papers that support certain preapproved narratives — even when those narratives come at the expense of broader knowledge for society.
To put it bluntly, climate science has become less about understanding the complexities of the world and more about serving as a kind of Cassandra, urgently warning the public about the dangers of climate change.
However understandable this instinct may be, it distorts a great deal of climate science research, misinforms the public, and most importantly, makes practical solutions more difficult to achieve.
Why is this happening?
It starts with the fact that a researcher’s career depends on his or her work being cited widely and perceived as important.
This triggers the self-reinforcing feedback loops of name recognition, funding, quality applications from aspiring PhD students and postdocs, and of course, accolades.
But as the number of researchers has skyrocketed in recent years — there are close to six times more PhDs earned in the U.S. each year than there were in the early 1960s — it has become more difficult than ever to stand out from the crowd.
So while there has always been a tremendous premium placed on publishing in journals like Nature and Science, it’s also become extraordinarily more competitive.
In theory, scientific research should prize curiosity, dispassionate objectivity, and a commitment to uncovering the truth.
Surely those are the qualities that editors of scientific journals should value.
In reality, though, the biases of the editors (and the reviewers they call upon to evaluate submissions) exert a major influence on the collective output of entire fields.
They select what gets published from a large pool of entries, and in doing so, they also shape how research is conducted more broadly.
Savvy researchers tailor their studies to maximize the likelihood that their work is accepted.
I know this because I am one of them.
Here’s how it works.
The first thing the astute climate researcher knows is that his or her work should support the mainstream narrative — namely, that the effects of climate change are both pervasive and catastrophic and that the primary way to deal with them is not by employing practical adaptation measures like stronger, more resilient infrastructure, better zoning and building codes, more air conditioning — or in the case of wildfires, better forest management or undergrounding power lines — but through policies like the Inflation Reduction Act, aimed at reducing greenhouse gas emissions.
This type of framing, with the influence of climate change unrealistically considered in isolation, is the norm for high-profile research papers.
This leads to a second unspoken rule in writing a successful climate paper.
The authors should ignore — or at least downplay — practical actions that can counter the impact of climate change.
Here’s a third trick: be sure to focus on metrics that will generate the most eye-popping numbers.
Similarly, it is standard practice to calculate impacts for scary hypothetical future warming scenarios that strain credibility while ignoring potential changes in technology and resilience that would lessen the impact.
Those scenarios always make for good headlines.
As to why I followed the formula despite my criticisms, the answer is simple: I wanted the research to be published in the highest profile venue possible.
When I began the research for this paper in 2020, I was a new assistant professor needing to maximize my prospects for a successful career.
When I had previously attempted to deviate from the formula, my papers were rejected out of hand by the editors of distinguished journals, and I had to settle for less prestigious outlets.
To put it another way, I sacrificed contributing the most valuable knowledge for society in order for the research to be compatible with the confirmation bias of the editors and reviewers of the journals I was targeting.
I left academia over a year ago, partially because I felt the pressures put on academic scientists caused too much of the research to be distorted.
But climate scientists shouldn’t have to exile themselves from academia to publish the most useful versions of their research.
We need a culture change across academia and elite media that allows for a much broader conversation on societal resilience to climate.
The media, for instance, should stop accepting these papers at face value and do some digging on what’s been left out.
The editors of the prominent journals need to expand beyond a narrow focus that pushes the reduction of greenhouse gas emissions.
And the researchers themselves need to start standing up to editors, or find other places to publish.
What really should matter isn’t citations for the journals, clicks for the media, or career status for the academics — but research that actually helps society.
end quotes
And after a pause for station identification, we will be back with more on Joe Biden’s CLIMATE CRISIS GRIFT, so stay tuned and don’t touch that dial!
http://www.capecharlesmirror.com/op-ed- ... ent-843723
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 8, 2023 AT 7:01 PM
Paul R Plante, NYSPE says:
So here we are, back to the question of exactly what is BIDE-O-NOMICS, and by the way, Dr Magdalena Skipper, the editor-in-chief of Nature, purported to be one of the world’s leading academic journals, who was literally puce with rage and quite incensed by having her publication “outed” by Patrick T. Brown, a lecturer at Johns Hopkins University and doctor of earth and climate sciences, has a net worth is $3.59 MILLION, which proves telling lies and misleading people about “science” and the (SHUDDER SHUDDER BE VERY SCARED) “CLIMATE CRISIS” is damn good bidness, and with all the lies we hear every day from the Biden regime, who can possibly be surprised by that.
The money is in the RIGHT LIES at the right time, not in the truth, which
is politically inexpedient, especially with respect to this CLIMATE CRISIS, the shifting sand foundation for the house of cards known as BIDE-O-NOMICS.
And going back to what BIDE-O-NOMICS is supposed to be, and this is relevant because according to an article by Next Impulse Sports titled “World reacts to Joe Biden announcement” by Kevin Harrish on 7 September 2023, the Biden campaign recently announced they’ll be bombarding the 2023 NFL season-opening weekend with a new ad highlighting President Biden’s historic economic agenda that is “delivering results for the American people,” which ought to go over real well with the millions of Americans getting further and further behind economically thanks to BIDE-O-NOMICS who watch NFL games, according to a Biden TWEET on mindless TWITTER in June of this year, BIDE-O-NOMICS is about growing the economy from the middle out and the bottom up, not the top down, which on its surface is a really stupid saying that means literally nothing, but in substance defines the very essence of BIDE-O-NOMICS, which can be equated to a giant Hoover vacuum cleaner sucking clean the pockets, wallets and bank accounts of those at the bottom of the economic pyramid and transferring that wealth up though those in the middle, who get to skim some for themselves, while the bulk ends up in the pockets of those at the top, as it is supposed to be in the world of American dictator Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, the FATHER of BIDE-O-NOMICS, the massive BORROW-AND-SPEND CORPORATE WELFARE program that is transforming our economy from a free-market system to one based on Marxist CENTRAL PLANNING, all based on a GREAT BIG LIE that is known as a CLIMATE CRISIS.
Think I’m kidding?
Not a joke!
And here, let us go back to June 28, 2023, where we have “Bidenomics Is Working: The President’s Plan Grows the Economy from the Middle Out and Bottom Up—Not the Top Down,” wherein we are informed thusly, to wit:
President Biden and Vice President Harris came into office determined to rebuild our economy from the middle out and the bottom up, not the top down—and that strategy is working.
end quote
We at the bottom who are getting further and further behind, along with those in the middle in similar circumstances can attest to the fact that yes, BIDE-O-NOMICS is indeed working, as it drains our savings and transfers our wealth to those at the top, as opposed to those at the top having to send their wealth downwards.
Going back to the Biden propaganda, it continues as follows, to wit:
Even as they faced an immediate economic and public health crisis—with a raging pandemic, elevated unemployment, snarled supply chains, and hundreds of thousands of small businesses at risk of shuttering—the President and Vice President understood that it wouldn’t be enough to simply go back to the economy we had before the pandemic.
That economy was saddled with longstanding challenges that held America back — including rising inequality and disinvestment from communities across the country.
President Biden recognized that some of those challenges were rooted in a failed trickle-down theory that supported slashing taxes for the wealthy and big corporations, shrinking public investment in critical priorities like infrastructure and education, and failing to safeguard market competition.
end quotes
And what do we have now?
Thanks to BIDE-O-NOMICS, taxes for the big corporations, especially those in foreign countries, have been slashed due to generous tax breaks.
Going back to BIDE-O-NOMICS, we have more, to wit:
The President took office determined to move beyond these failed trickle-down policies and fundamentally change the economic direction of our country.
end quote
By transforming our economy from a free market system to Marxist central planning such as Joe Stalin had back in the Soviet Union days, and Mao Tse Tung had in China with his GREAT LEAP FORWARD, which takes us back for more, keeping in mind that this is all empty PROPAGANDA as we shall see as we go along with facts, to wit:
While our work isn’t finished, Bidenomics is already delivering for the American people.
Our economy has added more than 13 million jobs — including nearly 800,000 manufacturing jobs — and we’ve unleashed a manufacturing and clean energy boom.
America has seen the strongest growth since the pandemic of any leading economy in the world.
Inflation has fallen for 11 straight months and has come down by more than half.
And we have done it all while responsibly reducing the deficit.
None of this progress was an accident or inevitable — it has been a direct result of Bidenomics.
And rather than taking us back to the failed trickle-down policies of the past, President Biden is committed to finishing the job and continuing to build an economy that finally works for working families — with better jobs, lower costs, and more opportunity.
end quotes
Reducing the deficit?
That’s a load of horse****!
The deficit isn’t being reduced by BIDE-O-NOMICS – to the contrary it is increasing thanks to BIDE-O-NOMICS, so that claim is a blatant lie, but since we are talking POLITICAL PROPAGANDA here, lies are what we have to expect, especially from this regime.
And lower costs?
Who is he kidding?
That’s more bull**** which takes us to July 20, 2023 and the “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs,” where we have as follows:
As part of President Biden’s historic actions to build a clean energy economy, the Biden-Harris Administration has jumpstarted an American offshore wind industry that will strengthen the nation’s energy security, make the power grid more reliable while lowering energy costs, and reduce dangerous climate pollution.
end quote
Make the power grid more reliable while lowering energy costs?
NOT HARDLY, people!
As we shall see, we the American people are about to get hosed and shafted BIG TIME, because energy costs, and here I mean electricity, are going UP, not down,
So stay tuned and the facts will soon follow after a break for station identification and several hours of words from our sponsors about why what were commodity items yesterday are now luxury items today!
http://www.capecharlesmirror.com/op-ed- ... ent-844391
Paul R Plante, NYSPE says:
So here we are, back to the question of exactly what is BIDE-O-NOMICS, and by the way, Dr Magdalena Skipper, the editor-in-chief of Nature, purported to be one of the world’s leading academic journals, who was literally puce with rage and quite incensed by having her publication “outed” by Patrick T. Brown, a lecturer at Johns Hopkins University and doctor of earth and climate sciences, has a net worth is $3.59 MILLION, which proves telling lies and misleading people about “science” and the (SHUDDER SHUDDER BE VERY SCARED) “CLIMATE CRISIS” is damn good bidness, and with all the lies we hear every day from the Biden regime, who can possibly be surprised by that.
The money is in the RIGHT LIES at the right time, not in the truth, which
is politically inexpedient, especially with respect to this CLIMATE CRISIS, the shifting sand foundation for the house of cards known as BIDE-O-NOMICS.
And going back to what BIDE-O-NOMICS is supposed to be, and this is relevant because according to an article by Next Impulse Sports titled “World reacts to Joe Biden announcement” by Kevin Harrish on 7 September 2023, the Biden campaign recently announced they’ll be bombarding the 2023 NFL season-opening weekend with a new ad highlighting President Biden’s historic economic agenda that is “delivering results for the American people,” which ought to go over real well with the millions of Americans getting further and further behind economically thanks to BIDE-O-NOMICS who watch NFL games, according to a Biden TWEET on mindless TWITTER in June of this year, BIDE-O-NOMICS is about growing the economy from the middle out and the bottom up, not the top down, which on its surface is a really stupid saying that means literally nothing, but in substance defines the very essence of BIDE-O-NOMICS, which can be equated to a giant Hoover vacuum cleaner sucking clean the pockets, wallets and bank accounts of those at the bottom of the economic pyramid and transferring that wealth up though those in the middle, who get to skim some for themselves, while the bulk ends up in the pockets of those at the top, as it is supposed to be in the world of American dictator Joseph Robinette Biden, Junior, aka THE BIG GUY, THE TEFLON DON, Robin Ware, Robert L. Peters, Celtic, or JRB Ware, the FATHER of BIDE-O-NOMICS, the massive BORROW-AND-SPEND CORPORATE WELFARE program that is transforming our economy from a free-market system to one based on Marxist CENTRAL PLANNING, all based on a GREAT BIG LIE that is known as a CLIMATE CRISIS.
Think I’m kidding?
Not a joke!
And here, let us go back to June 28, 2023, where we have “Bidenomics Is Working: The President’s Plan Grows the Economy from the Middle Out and Bottom Up—Not the Top Down,” wherein we are informed thusly, to wit:
President Biden and Vice President Harris came into office determined to rebuild our economy from the middle out and the bottom up, not the top down—and that strategy is working.
end quote
We at the bottom who are getting further and further behind, along with those in the middle in similar circumstances can attest to the fact that yes, BIDE-O-NOMICS is indeed working, as it drains our savings and transfers our wealth to those at the top, as opposed to those at the top having to send their wealth downwards.
Going back to the Biden propaganda, it continues as follows, to wit:
Even as they faced an immediate economic and public health crisis—with a raging pandemic, elevated unemployment, snarled supply chains, and hundreds of thousands of small businesses at risk of shuttering—the President and Vice President understood that it wouldn’t be enough to simply go back to the economy we had before the pandemic.
That economy was saddled with longstanding challenges that held America back — including rising inequality and disinvestment from communities across the country.
President Biden recognized that some of those challenges were rooted in a failed trickle-down theory that supported slashing taxes for the wealthy and big corporations, shrinking public investment in critical priorities like infrastructure and education, and failing to safeguard market competition.
end quotes
And what do we have now?
Thanks to BIDE-O-NOMICS, taxes for the big corporations, especially those in foreign countries, have been slashed due to generous tax breaks.
Going back to BIDE-O-NOMICS, we have more, to wit:
The President took office determined to move beyond these failed trickle-down policies and fundamentally change the economic direction of our country.
end quote
By transforming our economy from a free market system to Marxist central planning such as Joe Stalin had back in the Soviet Union days, and Mao Tse Tung had in China with his GREAT LEAP FORWARD, which takes us back for more, keeping in mind that this is all empty PROPAGANDA as we shall see as we go along with facts, to wit:
While our work isn’t finished, Bidenomics is already delivering for the American people.
Our economy has added more than 13 million jobs — including nearly 800,000 manufacturing jobs — and we’ve unleashed a manufacturing and clean energy boom.
America has seen the strongest growth since the pandemic of any leading economy in the world.
Inflation has fallen for 11 straight months and has come down by more than half.
And we have done it all while responsibly reducing the deficit.
None of this progress was an accident or inevitable — it has been a direct result of Bidenomics.
And rather than taking us back to the failed trickle-down policies of the past, President Biden is committed to finishing the job and continuing to build an economy that finally works for working families — with better jobs, lower costs, and more opportunity.
end quotes
Reducing the deficit?
That’s a load of horse****!
The deficit isn’t being reduced by BIDE-O-NOMICS – to the contrary it is increasing thanks to BIDE-O-NOMICS, so that claim is a blatant lie, but since we are talking POLITICAL PROPAGANDA here, lies are what we have to expect, especially from this regime.
And lower costs?
Who is he kidding?
That’s more bull**** which takes us to July 20, 2023 and the “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs,” where we have as follows:
As part of President Biden’s historic actions to build a clean energy economy, the Biden-Harris Administration has jumpstarted an American offshore wind industry that will strengthen the nation’s energy security, make the power grid more reliable while lowering energy costs, and reduce dangerous climate pollution.
end quote
Make the power grid more reliable while lowering energy costs?
NOT HARDLY, people!
As we shall see, we the American people are about to get hosed and shafted BIG TIME, because energy costs, and here I mean electricity, are going UP, not down,
So stay tuned and the facts will soon follow after a break for station identification and several hours of words from our sponsors about why what were commodity items yesterday are now luxury items today!
http://www.capecharlesmirror.com/op-ed- ... ent-844391
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 9, 2023 AT 10:10 PM
Paul R Plante, NYSPE says:
So, people, let us cut to the chase here and go back to July 20, 2023, and Joe Biden’s claim in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs,” that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs, and do some fact-checking to see if any of that BLATANT POLITICAL PROPAGANDA is in any way true.
First of all, what about the claim that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable?
HOW?
How is the Biden-Harris Administration going to make the power grid more reliable with a bunch of off-shore windmills, when there is NOTHING now wrong with our existing power grid, which already is quite reliable?
But we are talking BLATANT POLITICAL PROPAGANDA here, which is to say, a LITANY OF LIES, so this is what we have to expect coming to us from the Biden-Harris Administration, which thinks we are all stupid and as dumb as a box of rocks, which is a gross insult to the intelligence of the American people, or those of us who read the Cape Charles Mirror, anyway.
And while we are on that subject of the specious claim of the Biden-Harris Administration making the power grid more reliable with a bunch of windmills, and since a picture is worth a thousand words, take a moment and watch these videos of windmills either falling over, or catching fire, or smacking eagles out of the sky or flinging their blades, and then ask yourself this important question: HOW DOES ANY OF THAT SERVE TO MAKE OUR POWER GRID RELIABLE:
Wind Turbine in Germany Snaps and Collapses
https://www.youtube.com/watch?v=bdlTV-SLjRc
Crowell, Texas, July 22, 2022: Wind turbine catches fire after being struck by lightning
https://www.youtube.com/watch?v=ubdMNNbnivA
Dramatic footage shows Hull wind turbine on fire
The Independent
https://www.youtube.com/watch?v=mSAFoN8UyF4
Wind turbine catches fire off British coast prompting evacuations | USA TODAY
16 AUGUST 2023
https://www.youtube.com/watch?v=4SADmTsILmQ
This has some spectacular footage of a windmill literally disintegrating and spewing shrapnel, as well as an eagle strike and a windmill falling over: 5 Wind Turbines Which Failed (Environmentally Friendly?) – Engineering World
https://www.youtube.com/watch?v=MVHzfUWul2Y
Piece of wind turbine flies off at Boston’s Deer Island – WWLP-22News
https://www.youtube.com/watch?v=XKnatQqk9ec
And as you watch that black smoke pouring off those burning windmills, keeping in mind that train wreck out in East Palestine, Ohio https://www.youtube.com/watch?v=dsw4ZKkLQp8 and the total lack of concern of the Biden-Harris Administration over those toxic fumes going into the environment, ask yourself how those burning windmills spewing black smoke comports with the claim of the Biden-Harris Administration that their offshore wind industry will reduce dangerous climate pollution.
And before getting into the rising cost of power generated by Joe Biden’s windmills, let’s pause here for station identification, and then we will be right back with a Washington Examiner titled “The latest Biden energy crisis” by Matthew Kandrach on 3 July 2023, which article sets the stage for what is to follow on soaring electricity costs to we, the American people who are about to get hosed real good as a result of Joe Biden’s INSANE GREEN DREAM, to wit:
When it comes to the nation’s supply of energy, the United States has an unfortunate tendency of stumbling from one crisis to another.
Just as we turn the corner on energy-driven inflation and the shock of a global energy crisis, there is a new crisis now on the horizon: the rapidly eroding reliability of the nation’s supply of electricity.
The situation is increasingly dire and made so by a spectacular failure of policy.
http://www.capecharlesmirror.com/op-ed- ... ent-844915
Paul R Plante, NYSPE says:
So, people, let us cut to the chase here and go back to July 20, 2023, and Joe Biden’s claim in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs,” that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs, and do some fact-checking to see if any of that BLATANT POLITICAL PROPAGANDA is in any way true.
First of all, what about the claim that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable?
HOW?
How is the Biden-Harris Administration going to make the power grid more reliable with a bunch of off-shore windmills, when there is NOTHING now wrong with our existing power grid, which already is quite reliable?
But we are talking BLATANT POLITICAL PROPAGANDA here, which is to say, a LITANY OF LIES, so this is what we have to expect coming to us from the Biden-Harris Administration, which thinks we are all stupid and as dumb as a box of rocks, which is a gross insult to the intelligence of the American people, or those of us who read the Cape Charles Mirror, anyway.
And while we are on that subject of the specious claim of the Biden-Harris Administration making the power grid more reliable with a bunch of windmills, and since a picture is worth a thousand words, take a moment and watch these videos of windmills either falling over, or catching fire, or smacking eagles out of the sky or flinging their blades, and then ask yourself this important question: HOW DOES ANY OF THAT SERVE TO MAKE OUR POWER GRID RELIABLE:
Wind Turbine in Germany Snaps and Collapses
https://www.youtube.com/watch?v=bdlTV-SLjRc
Crowell, Texas, July 22, 2022: Wind turbine catches fire after being struck by lightning
https://www.youtube.com/watch?v=ubdMNNbnivA
Dramatic footage shows Hull wind turbine on fire
The Independent
https://www.youtube.com/watch?v=mSAFoN8UyF4
Wind turbine catches fire off British coast prompting evacuations | USA TODAY
16 AUGUST 2023
https://www.youtube.com/watch?v=4SADmTsILmQ
This has some spectacular footage of a windmill literally disintegrating and spewing shrapnel, as well as an eagle strike and a windmill falling over: 5 Wind Turbines Which Failed (Environmentally Friendly?) – Engineering World
https://www.youtube.com/watch?v=MVHzfUWul2Y
Piece of wind turbine flies off at Boston’s Deer Island – WWLP-22News
https://www.youtube.com/watch?v=XKnatQqk9ec
And as you watch that black smoke pouring off those burning windmills, keeping in mind that train wreck out in East Palestine, Ohio https://www.youtube.com/watch?v=dsw4ZKkLQp8 and the total lack of concern of the Biden-Harris Administration over those toxic fumes going into the environment, ask yourself how those burning windmills spewing black smoke comports with the claim of the Biden-Harris Administration that their offshore wind industry will reduce dangerous climate pollution.
And before getting into the rising cost of power generated by Joe Biden’s windmills, let’s pause here for station identification, and then we will be right back with a Washington Examiner titled “The latest Biden energy crisis” by Matthew Kandrach on 3 July 2023, which article sets the stage for what is to follow on soaring electricity costs to we, the American people who are about to get hosed real good as a result of Joe Biden’s INSANE GREEN DREAM, to wit:
When it comes to the nation’s supply of energy, the United States has an unfortunate tendency of stumbling from one crisis to another.
Just as we turn the corner on energy-driven inflation and the shock of a global energy crisis, there is a new crisis now on the horizon: the rapidly eroding reliability of the nation’s supply of electricity.
The situation is increasingly dire and made so by a spectacular failure of policy.
http://www.capecharlesmirror.com/op-ed- ... ent-844915
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 10, 2023 AT 9:16 PM
Paul R Plante, NYSPE says:
So, yes, people, we are back to 3 July 2023, this being seventeen (17) days before Joe Biden’s specious claims in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs” on July 20, 2023 that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs, and the Washington Examiner story “The latest Biden energy crisis” by Matthew Kandrach where we the American people were told that when it comes to the nation’s supply of energy, the United States, i.e. Joe Biden and his pack of Democrats, has an unfortunate tendency of stumbling from one crisis to another, so that as we turn the corner on energy-driven inflation and the shock of a global energy crisis, there is a new crisis now on the horizon, namely, the rapidly eroding reliability of the nation’s supply of electricity, a situation that is increasingly dire and made so by a spectacular failure of policy by Joe Biden himself, who has deluded himself with his INSANE GREEN DREAM, which takes us back to that article for some essential background on this issue that is going to affect each and every one of us in myriad ways, to wit:
In one congressional hearing after another, the nation’s energy regulators, grid operators, and utilities have warned that we’re bungling the energy transition.
end quotes
But it is not we, the American people who are bungling anything, because we have absolutely no part in the bungling, nor any say, either.
To the contrary, that should read the Biden-Harris Administration is bungling the energy transition, because they are incompetent and haven’t a clue as to what they are doing, other than knee-jerking, which takes us back for more essential background, to wit:
U.S. electricity demand is on the verge of skyrocketing, driven by electrification, as in the rapid uptake of electric vehicles and the stunning growth of data centers and artificial intelligence.
Just as demand is beginning to soar, the Environmental Protection Agency and a host of state clean energy mandates are forcing traditional sources of power — namely coal and natural gas plants — off the grid.
end quotes
For the record, those plants being forced off the grid by the bungling Biden-Harris Administration have been a reliable source of electricity for decades, which takes us back to the article, to wit:
Unfortunately, replacement renewable energy capacity and its enabling infrastructure, such as high-voltage interstate transmission lines — aren’t materializing nearly fast enough to bridge the gap between what’s needed and what’s currently available.
A theoretical mismatch between supply and demand is now turning into an on-the-ground crisis from one coast to the other.
Potential supply shortfalls during periods of peak demand — think scorching heat or bitter cold — is a new reality for most of the country.
This summer, for example, the North American Electric Reliability Corporation, the regulator overseeing the reliability of the nation’s power supply, has warned that two-thirds of the nation is at high risk of outages should we see extended heat waves stretching across multiple states.
So singularly focused on meeting carbon reduction goals, the Biden administration is pretending the grid crisis all but doesn’t exist.
While EPA is pushing through a blitz of rules targeting fossil fuel plants that will only accelerate the loss of essential capacity, the folks tasked with keeping the lights on are begging for a rethink.
Jim Robb, president and CEO of NERC, told Congress, “We must manage the pace of the transformation [of the grid] in an orderly way, which is currently not happening.”
When asked if the generating capacity EPA’s power plant regulations are forcing into retirement can be replaced with renewables without affecting reliability, he said, “Not in the time frame we’re looking at.”
“No.”
Federal Energy Regulatory Commission member Mark Christie testified that “the United States is heading for a reliability crisis.”
He added, “I do not use the term ‘crisis’ for melodrama …”
“The core problem is this: dispatchable generating resources are retiring far too quickly and in quantities that threaten our ability to keep the lights on.”
Even FERC Chairman Willie Phillips, hand-picked by President Joe Biden, testified, “I am extremely concerned about the pace of retirements we are seeing of generators which are needed for reliability on our system.”
What’s particularly appalling is how unnecessary this crisis is.
At Biden’s direction, the EPA has hijacked the nation’s energy policy.
Congress must now step in to right the ship.
There’s an obvious off-ramp.
Instead of tearing down the generating capacity we have, which currently underpins the system, we should be adding to it.
New additions of wind and solar power should come on the shoulders of existing plants, increasing available capacity and providing an expanded reliability backstop.
Despite claims to the contrary, there is nothing easy or simple about reshaping the nation’s supply of power.
Trying to do so as electricity demand soars is a doubly difficult task.
It’s past time we stop demonizing the coal and natural gas plants that are the very backbone of reliable, affordable power and instead pump the brakes on EPA’s regulatory march.
The warnings couldn’t be clearer about the grid crisis we now face.
When — not if — the blackouts come, the culprit won’t be a heat wave, bitter cold, or a technological glitch.
It will be the Biden administration’s unwillingness to pivot from a grossly irresponsible and dangerous agenda.
end quotes
Something to think about, anyway, and when we return after a break for station identification, it will be with a Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we will encounter Joe Buden’s MYTH of reliability, to wit:
Billions of dollars in scheduled offshore wind developments in waters of the U.K. and U.S. have been paused or canceled in recent weeks, according to Bloomberg News.
Three major offshore wind-related contracts have fallen through as rising costs and economic concerns have saddled developments off the American and British coasts, according to Bloomberg.
While offshore wind proponents remain confident in the long term viability of offshore wind, the recent cancellations may be a sign of more substantial troubles for offshore wind despite strong support from the Biden administration, according to Bloomberg.
Offshore wind energy is a key pillar of the Biden administration’s massive green energy agenda, as the administration wants offshore wind to produce enough energy to power 10 million American homes by 2030.
The cancellations and turbulence are partially attributable to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, according to Bloomberg.
http://www.capecharlesmirror.com/op-ed- ... ent-845390
Paul R Plante, NYSPE says:
So, yes, people, we are back to 3 July 2023, this being seventeen (17) days before Joe Biden’s specious claims in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs” on July 20, 2023 that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs, and the Washington Examiner story “The latest Biden energy crisis” by Matthew Kandrach where we the American people were told that when it comes to the nation’s supply of energy, the United States, i.e. Joe Biden and his pack of Democrats, has an unfortunate tendency of stumbling from one crisis to another, so that as we turn the corner on energy-driven inflation and the shock of a global energy crisis, there is a new crisis now on the horizon, namely, the rapidly eroding reliability of the nation’s supply of electricity, a situation that is increasingly dire and made so by a spectacular failure of policy by Joe Biden himself, who has deluded himself with his INSANE GREEN DREAM, which takes us back to that article for some essential background on this issue that is going to affect each and every one of us in myriad ways, to wit:
In one congressional hearing after another, the nation’s energy regulators, grid operators, and utilities have warned that we’re bungling the energy transition.
end quotes
But it is not we, the American people who are bungling anything, because we have absolutely no part in the bungling, nor any say, either.
To the contrary, that should read the Biden-Harris Administration is bungling the energy transition, because they are incompetent and haven’t a clue as to what they are doing, other than knee-jerking, which takes us back for more essential background, to wit:
U.S. electricity demand is on the verge of skyrocketing, driven by electrification, as in the rapid uptake of electric vehicles and the stunning growth of data centers and artificial intelligence.
Just as demand is beginning to soar, the Environmental Protection Agency and a host of state clean energy mandates are forcing traditional sources of power — namely coal and natural gas plants — off the grid.
end quotes
For the record, those plants being forced off the grid by the bungling Biden-Harris Administration have been a reliable source of electricity for decades, which takes us back to the article, to wit:
Unfortunately, replacement renewable energy capacity and its enabling infrastructure, such as high-voltage interstate transmission lines — aren’t materializing nearly fast enough to bridge the gap between what’s needed and what’s currently available.
A theoretical mismatch between supply and demand is now turning into an on-the-ground crisis from one coast to the other.
Potential supply shortfalls during periods of peak demand — think scorching heat or bitter cold — is a new reality for most of the country.
This summer, for example, the North American Electric Reliability Corporation, the regulator overseeing the reliability of the nation’s power supply, has warned that two-thirds of the nation is at high risk of outages should we see extended heat waves stretching across multiple states.
So singularly focused on meeting carbon reduction goals, the Biden administration is pretending the grid crisis all but doesn’t exist.
While EPA is pushing through a blitz of rules targeting fossil fuel plants that will only accelerate the loss of essential capacity, the folks tasked with keeping the lights on are begging for a rethink.
Jim Robb, president and CEO of NERC, told Congress, “We must manage the pace of the transformation [of the grid] in an orderly way, which is currently not happening.”
When asked if the generating capacity EPA’s power plant regulations are forcing into retirement can be replaced with renewables without affecting reliability, he said, “Not in the time frame we’re looking at.”
“No.”
Federal Energy Regulatory Commission member Mark Christie testified that “the United States is heading for a reliability crisis.”
He added, “I do not use the term ‘crisis’ for melodrama …”
“The core problem is this: dispatchable generating resources are retiring far too quickly and in quantities that threaten our ability to keep the lights on.”
Even FERC Chairman Willie Phillips, hand-picked by President Joe Biden, testified, “I am extremely concerned about the pace of retirements we are seeing of generators which are needed for reliability on our system.”
What’s particularly appalling is how unnecessary this crisis is.
At Biden’s direction, the EPA has hijacked the nation’s energy policy.
Congress must now step in to right the ship.
There’s an obvious off-ramp.
Instead of tearing down the generating capacity we have, which currently underpins the system, we should be adding to it.
New additions of wind and solar power should come on the shoulders of existing plants, increasing available capacity and providing an expanded reliability backstop.
Despite claims to the contrary, there is nothing easy or simple about reshaping the nation’s supply of power.
Trying to do so as electricity demand soars is a doubly difficult task.
It’s past time we stop demonizing the coal and natural gas plants that are the very backbone of reliable, affordable power and instead pump the brakes on EPA’s regulatory march.
The warnings couldn’t be clearer about the grid crisis we now face.
When — not if — the blackouts come, the culprit won’t be a heat wave, bitter cold, or a technological glitch.
It will be the Biden administration’s unwillingness to pivot from a grossly irresponsible and dangerous agenda.
end quotes
Something to think about, anyway, and when we return after a break for station identification, it will be with a Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we will encounter Joe Buden’s MYTH of reliability, to wit:
Billions of dollars in scheduled offshore wind developments in waters of the U.K. and U.S. have been paused or canceled in recent weeks, according to Bloomberg News.
Three major offshore wind-related contracts have fallen through as rising costs and economic concerns have saddled developments off the American and British coasts, according to Bloomberg.
While offshore wind proponents remain confident in the long term viability of offshore wind, the recent cancellations may be a sign of more substantial troubles for offshore wind despite strong support from the Biden administration, according to Bloomberg.
Offshore wind energy is a key pillar of the Biden administration’s massive green energy agenda, as the administration wants offshore wind to produce enough energy to power 10 million American homes by 2030.
The cancellations and turbulence are partially attributable to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, according to Bloomberg.
http://www.capecharlesmirror.com/op-ed- ... ent-845390
Re: On BIDE-O-NOMICS
THE CAPE CHARLES MIRROR SEPTEMBER 11, 2023 AT 8:46 PM
Paul R Plante, NYSPE says:
Before we go back to that Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we were informed that Joe Biden’s prized windmill farms were being cancelled due to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, which is an indication of GROSS CORPORATE NEGLIGENCE and STUPIDITY coupled with GOVERNMENTAL STUPIDITY on the part of the Biden regime, I would like to take a moment to explain the significance of that NYSPE I include with my name.
NYSPE means that I am an engineer licensed by the state of New York to perform professional service such as consultation, investigation, evaluation, planning, design or supervision of construction or operation in connection with any utilities, structures, buildings, machines, equipment, processes, works, or projects wherein the safeguarding of life, health and property is concerned, when such service or work requires the application of engineering principles and data.
To become licensed as a professional engineer, among other requirements, it is necessary to take and pass two eight-hour exams, and a mandatory question on the second exam that must be passed has to do with what is known as ENGINEERING ECONOMICS, which is to say, COST-BENEFIT ANALYSIS regarding public projects such as Joe Biden’s windmill farms, and the reason I bring that up is because it is patently obvious that NO ATTEMPT was made by anyone to perform a cost-benefit analysis of these windmill farms, which is GROSS NEGLIGENCE by the Biden regime on steroids, given the amount of public monies being SQUANDERED here on Joe Biden’s INSANE GREEN DREAM.
For those unfamiliar with the term “cost-benefit analysis,” which list would start with Joe Biden and the corporate executives of these windmill companies, the Harvard Business School has an article on the subject titled “How to do a Cost-Benefit Analysis & why it’s important” by Tim Stobierski on 5 September 2019, where we learn as follows, to wit:
Are you unsure whether a particular decision is the best one for your business?
Are you questioning whether a proposed project will be worth the effort and resources that will go into making it a success?
The way that many businesses, organizations, and entrepreneurs answer these, and other, questions is through business analytics — specifically, by conducting a cost-benefit analysis.
A cost-benefit analysis is the process of comparing the projected or estimated costs and benefits (or opportunities) associated with a project decision to determine whether it makes sense from a business perspective.
Generally speaking, cost-benefit analysis involves tallying up all costs of a project or decision and subtracting that amount from the total projected benefits of the project or decision.
If the projected benefits outweigh the costs, you could argue that the decision is a good one to make.
If, on the other hand, the costs outweigh the benefits, then a company may want to rethink the decision or project.
There are enormous economic benefits to running these kinds of analyses before making significant organizational decisions.
By doing analyses, you can parse out critical information, such as your organization’s value chain or a project’s ROI (return on investment).
end quotes
As we are going to see, and I have been making this argument for months in here elsewhere, NO THOUGHT whatsoever was given to the costs associated with these PIE-IN-THE-SKY INSANE GREEN DREAMS of Joe Biden starting with these offshore wind farms.
So what is involved in a cost-benefit analysis, which should have been performed before this BIDEN BOONDOGGLE involving the expenditure of massive sums of public money?
For that answer, let us go back to the Harvard article and see, to wit:
STEPS OF A COST-BENEFIT ANALYSIS
1. Establish a Framework for Your Analysis
For your analysis to be as accurate as possible, you must first establish the framework within which you’re conducting it.
Identify the goals and objectives you’re trying to address with the proposal.
What do you need to accomplish to consider the endeavor a success?
This can help you identify and understand your costs and benefits, and will be critical in interpreting the results of your analysis.
2. Identify Your Costs and Benefits
Your next step is to sit down and compile two separate lists: One of all of the projected costs, and the other of the expected benefits of the proposed project or action.
When tallying costs, you’ll likely begin with direct costs, which include expenses directly related to the production or development of a product or service (or the implementation of a project or business decision).
Labor costs, manufacturing costs, materials costs, and inventory costs are all examples of direct costs.
But it’s also important to go beyond the obvious.
There are a few additional costs you must account for:
Indirect costs: These are typically fixed expenses, such as utilities and rent, that contribute to the overhead of conducting business.
Intangible costs: These are any current and future costs that are difficult to measure and quantify.
Opportunity costs: This refers to lost benefits, or opportunities, that arise when a business pursues one product or strategy over another.
Once those individual costs are identified, it’s equally important to understand the possible benefits of the proposed decision or project.
Some of those benefits include:
Direct: Increased revenue and sales generated from a new product
Indirect: Increased customer interest in your business or brand
Intangible: Improved employee morale
Competitive: Being a first-mover within an industry or vertical
3. Assign a Dollar Amount or Value to Each Cost and Benefit
Once you’ve compiled exhaustive lists of all costs and benefits, you must establish the appropriate monetary units by assigning a dollar amount to each one.
If you don’t give all the costs and benefits a value, then it will be difficult to compare them accurately.
4. Tally the Total Value of Benefits and Costs and Compare
Once every cost and benefit has a dollar amount next to it, you can tally up each list and compare the two.
If total benefits outnumber total costs, then there is a business case for you to proceed with the project or decision.
If total costs outnumber total benefits, then you may want to reconsider the proposal.
end quotes
And that takes us back to the Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we will see that after the fact, after leaping without looking, these NEGLIGENT windmill companies are doing exactly that, reconsidering their proposals. because as a result of their gross negligence and a failure to conduct due diligence (a comprehensive appraisal of a business undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential) they are taking a financial bath, to wit:
Offshore wind energy is a key pillar of the Biden administration’s massive green energy agenda, as the administration wants offshore wind to produce enough energy to power 10 million American homes by 2030.
end quotes
For the record, according to the facts, there were are 141.58 million houses in the US as of last year, and on the east coast, where these wind farms are to be located, if ever built, and based on estimates taken in 2017, the East Coast states have a total population of over 118 million inhabitants, so that this region is home to more than one-third of the nation’s total population, and is also the most populated coastal region in the country.
So right there we are getting an idea of just how ill-thought out this whole BIDEN BOONDOGGLE has been from the start, because where are all those other people going to get their power from?
Going back to the article, it continues as follows:
The cancellations and turbulence are partially attributable to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, according to Bloomberg.
Steadily increasing interest rates make the price of debt even riskier for companies to take out to finance their offshore wind projects, according to Bloomberg.
A subsidiary of Iberdrola SA, a Spanish renewables firm, canceled a contract that would have enabled the firm to sell energy produced by an offshore wind farm located off the Massachusetts coast, according to Bloomberg.
The firm agreed to pay nearly $50 million in fines to get out of the contract to sell offshore wind energy, asserting that inflation and rising interest rates no longer make the deal financially sensible, according to Recharge News.
Other companies involved in that particular project, Shell and OceanWind, are reportedly looking to change terms of their respective stakes in the development due to the turbulence, according to Recharge News.
Orsted, a Danish green energy company, lost its bid to generate offshore wind energy off the Rhode Island coast because costs had risen so sharply that the state’s leading utility provider determined the project to be too pricey, according to Bloomberg.
“Price inflation on turbines, cables etc (sic) have gone up sharply,” Mads Nipper, the company’s CEO, wrote in a LinkedIn post regarding the lost bid, adding that “this means that price of renewable energy regrettably must come up temporarily.”
end quotes
HUH?
WOT?
The price of renewable energy regrettably must come up?
But that can’t be, people, because on 20 July 2023, just four days earlier, Joe Biden promised us in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs” that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs!
Did Joe lie to us?
Of course he did, because he never does anything else, which takes us back to the Daily Caller, to wit:
More than two times that much offshore wind power generation may also be at risk as developers seek to rework or get out of other deals that no longer make as much sense due to cost increases and other market forces, according to Bloomberg.
end quote
So what on earth is up with that, people?
Think about it while we pause for station identification and when we return, we’ll go to a Motley Fool article titled “Wind Energy Faces its First Crisis as Costs Mount” by The Daily Upside on 10 August 2023, where we will see the following and in the meantime, stay tuned:
It’s been anything but a breeze for wind.
Siemens Energy, a major German player in the wind energy industry, told investors on Monday the losses at its wind turbine division will likely climb higher than previously thought.
This comes amid broader financing turbulence in the wind industry, according to a report in The Wall Street Journal.
One executive at energy company Equinor didn’t mince words talking to the WSJ: “At the moment, we are seeing the industry’s first crisis.”
http://www.capecharlesmirror.com/op-ed- ... ent-845851
Paul R Plante, NYSPE says:
Before we go back to that Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we were informed that Joe Biden’s prized windmill farms were being cancelled due to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, which is an indication of GROSS CORPORATE NEGLIGENCE and STUPIDITY coupled with GOVERNMENTAL STUPIDITY on the part of the Biden regime, I would like to take a moment to explain the significance of that NYSPE I include with my name.
NYSPE means that I am an engineer licensed by the state of New York to perform professional service such as consultation, investigation, evaluation, planning, design or supervision of construction or operation in connection with any utilities, structures, buildings, machines, equipment, processes, works, or projects wherein the safeguarding of life, health and property is concerned, when such service or work requires the application of engineering principles and data.
To become licensed as a professional engineer, among other requirements, it is necessary to take and pass two eight-hour exams, and a mandatory question on the second exam that must be passed has to do with what is known as ENGINEERING ECONOMICS, which is to say, COST-BENEFIT ANALYSIS regarding public projects such as Joe Biden’s windmill farms, and the reason I bring that up is because it is patently obvious that NO ATTEMPT was made by anyone to perform a cost-benefit analysis of these windmill farms, which is GROSS NEGLIGENCE by the Biden regime on steroids, given the amount of public monies being SQUANDERED here on Joe Biden’s INSANE GREEN DREAM.
For those unfamiliar with the term “cost-benefit analysis,” which list would start with Joe Biden and the corporate executives of these windmill companies, the Harvard Business School has an article on the subject titled “How to do a Cost-Benefit Analysis & why it’s important” by Tim Stobierski on 5 September 2019, where we learn as follows, to wit:
Are you unsure whether a particular decision is the best one for your business?
Are you questioning whether a proposed project will be worth the effort and resources that will go into making it a success?
The way that many businesses, organizations, and entrepreneurs answer these, and other, questions is through business analytics — specifically, by conducting a cost-benefit analysis.
A cost-benefit analysis is the process of comparing the projected or estimated costs and benefits (or opportunities) associated with a project decision to determine whether it makes sense from a business perspective.
Generally speaking, cost-benefit analysis involves tallying up all costs of a project or decision and subtracting that amount from the total projected benefits of the project or decision.
If the projected benefits outweigh the costs, you could argue that the decision is a good one to make.
If, on the other hand, the costs outweigh the benefits, then a company may want to rethink the decision or project.
There are enormous economic benefits to running these kinds of analyses before making significant organizational decisions.
By doing analyses, you can parse out critical information, such as your organization’s value chain or a project’s ROI (return on investment).
end quotes
As we are going to see, and I have been making this argument for months in here elsewhere, NO THOUGHT whatsoever was given to the costs associated with these PIE-IN-THE-SKY INSANE GREEN DREAMS of Joe Biden starting with these offshore wind farms.
So what is involved in a cost-benefit analysis, which should have been performed before this BIDEN BOONDOGGLE involving the expenditure of massive sums of public money?
For that answer, let us go back to the Harvard article and see, to wit:
STEPS OF A COST-BENEFIT ANALYSIS
1. Establish a Framework for Your Analysis
For your analysis to be as accurate as possible, you must first establish the framework within which you’re conducting it.
Identify the goals and objectives you’re trying to address with the proposal.
What do you need to accomplish to consider the endeavor a success?
This can help you identify and understand your costs and benefits, and will be critical in interpreting the results of your analysis.
2. Identify Your Costs and Benefits
Your next step is to sit down and compile two separate lists: One of all of the projected costs, and the other of the expected benefits of the proposed project or action.
When tallying costs, you’ll likely begin with direct costs, which include expenses directly related to the production or development of a product or service (or the implementation of a project or business decision).
Labor costs, manufacturing costs, materials costs, and inventory costs are all examples of direct costs.
But it’s also important to go beyond the obvious.
There are a few additional costs you must account for:
Indirect costs: These are typically fixed expenses, such as utilities and rent, that contribute to the overhead of conducting business.
Intangible costs: These are any current and future costs that are difficult to measure and quantify.
Opportunity costs: This refers to lost benefits, or opportunities, that arise when a business pursues one product or strategy over another.
Once those individual costs are identified, it’s equally important to understand the possible benefits of the proposed decision or project.
Some of those benefits include:
Direct: Increased revenue and sales generated from a new product
Indirect: Increased customer interest in your business or brand
Intangible: Improved employee morale
Competitive: Being a first-mover within an industry or vertical
3. Assign a Dollar Amount or Value to Each Cost and Benefit
Once you’ve compiled exhaustive lists of all costs and benefits, you must establish the appropriate monetary units by assigning a dollar amount to each one.
If you don’t give all the costs and benefits a value, then it will be difficult to compare them accurately.
4. Tally the Total Value of Benefits and Costs and Compare
Once every cost and benefit has a dollar amount next to it, you can tally up each list and compare the two.
If total benefits outnumber total costs, then there is a business case for you to proceed with the project or decision.
If total costs outnumber total benefits, then you may want to reconsider the proposal.
end quotes
And that takes us back to the Daily Caller article titled “Companies Are Abandoning Massive Offshore Wind Projects As Prices Skyrocket” by Nick Pope on 24 July 2023, where we will see that after the fact, after leaping without looking, these NEGLIGENT windmill companies are doing exactly that, reconsidering their proposals. because as a result of their gross negligence and a failure to conduct due diligence (a comprehensive appraisal of a business undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential) they are taking a financial bath, to wit:
Offshore wind energy is a key pillar of the Biden administration’s massive green energy agenda, as the administration wants offshore wind to produce enough energy to power 10 million American homes by 2030.
end quotes
For the record, according to the facts, there were are 141.58 million houses in the US as of last year, and on the east coast, where these wind farms are to be located, if ever built, and based on estimates taken in 2017, the East Coast states have a total population of over 118 million inhabitants, so that this region is home to more than one-third of the nation’s total population, and is also the most populated coastal region in the country.
So right there we are getting an idea of just how ill-thought out this whole BIDEN BOONDOGGLE has been from the start, because where are all those other people going to get their power from?
Going back to the article, it continues as follows:
The cancellations and turbulence are partially attributable to increasing costs for steel needed to build the giant turbines and the special ships needed for installation, according to Bloomberg.
Steadily increasing interest rates make the price of debt even riskier for companies to take out to finance their offshore wind projects, according to Bloomberg.
A subsidiary of Iberdrola SA, a Spanish renewables firm, canceled a contract that would have enabled the firm to sell energy produced by an offshore wind farm located off the Massachusetts coast, according to Bloomberg.
The firm agreed to pay nearly $50 million in fines to get out of the contract to sell offshore wind energy, asserting that inflation and rising interest rates no longer make the deal financially sensible, according to Recharge News.
Other companies involved in that particular project, Shell and OceanWind, are reportedly looking to change terms of their respective stakes in the development due to the turbulence, according to Recharge News.
Orsted, a Danish green energy company, lost its bid to generate offshore wind energy off the Rhode Island coast because costs had risen so sharply that the state’s leading utility provider determined the project to be too pricey, according to Bloomberg.
“Price inflation on turbines, cables etc (sic) have gone up sharply,” Mads Nipper, the company’s CEO, wrote in a LinkedIn post regarding the lost bid, adding that “this means that price of renewable energy regrettably must come up temporarily.”
end quotes
HUH?
WOT?
The price of renewable energy regrettably must come up?
But that can’t be, people, because on 20 July 2023, just four days earlier, Joe Biden promised us in his “FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs” that the Biden-Harris Administration has jumpstarted an American offshore wind industry that will make the power grid more reliable and lower energy costs!
Did Joe lie to us?
Of course he did, because he never does anything else, which takes us back to the Daily Caller, to wit:
More than two times that much offshore wind power generation may also be at risk as developers seek to rework or get out of other deals that no longer make as much sense due to cost increases and other market forces, according to Bloomberg.
end quote
So what on earth is up with that, people?
Think about it while we pause for station identification and when we return, we’ll go to a Motley Fool article titled “Wind Energy Faces its First Crisis as Costs Mount” by The Daily Upside on 10 August 2023, where we will see the following and in the meantime, stay tuned:
It’s been anything but a breeze for wind.
Siemens Energy, a major German player in the wind energy industry, told investors on Monday the losses at its wind turbine division will likely climb higher than previously thought.
This comes amid broader financing turbulence in the wind industry, according to a report in The Wall Street Journal.
One executive at energy company Equinor didn’t mince words talking to the WSJ: “At the moment, we are seeing the industry’s first crisis.”
http://www.capecharlesmirror.com/op-ed- ... ent-845851