Gold Stocks Still Undervalued

By Adam Hamilton – Re-Blogged From Gold Eagle

Gold miners’ stocks rocketed out of mid-March’s stock panic, breaking out to major new bull-market highs in mid-May. Such blisteringly-fast gains, and gold stocks’ upleg stalling out since, have left many traders nervous about this sector. Calls for a serious selloff are mounting. But arguing in favor for more near-term gains to come, gold stocks never grew overvalued in this post-panic upleg and are still undervalued today.

The recent gold-stock action is best understood through this sector’s most-popular benchmark, the GDX VanEck Vectors Gold Miners ETF. Holding the world’s biggest and best gold miners, it dominates gold-stock-ETF capital flows. GDX’s world-leading $15.1b in net assets this week are triple the size of its little-brother GDXJ mid-tier gold miners ETF! No other gold-stock ETFs come remotely close to GDX’s scale.

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A Collapsing Dollar And China’s Monetary Strategy

Alasdair Macleod – Re-Blogged From Gold Eagle

This article describes how China can escape the fate of a dollar collapse by tying the yuan to gold. There is little doubt she has access to sufficient gold. Currently, her interest is to preserve the dollar, not destroy it, because it is the principal means of Chinese foreign interests being secured .

Furthermore, a return to sound money requires China to reverse its interventionism under Xi, returning to Deng Xiaoping’s original vision. Sound money can only last if the relationship between the state and the wider economy is properly addressed.

Of all the major economies, China’s is best placed to implement a sound money solution. At the moment it seems unlikely the necessary reforms will be forthcoming; but a general collapse of the global fiat currency regime presents the opportunity for reassessment and change.

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Decline of the U.S. Dollar Could Happen at ‘Warp Speed’

Stephen Roach, a Yale University senior fellow and former Morgan Stanley Asia chairman, tells MarketWatch that his forecast for a sharp deterioration of the U.S. dollar could be a very near-term phenomenon, not an event that looms off in the distance.

“I do think it’s something that happens sooner rather than later,” the economist told MarketWatch during a Monday-afternoon interview.

His comments come as the financial expert has been warning for weeks of an epic downturn of the buck that could signal the end of the hegemony of the greenback as a reserve currency — an event that would ripple through global financial markets.

Stephen Roach

IMF Downgrades Outlook for Global Economy

[The Recession was caused partly by the COVID Pandemic, partly from the lockdowns put in place in over 40 US States, and partly by the economic troubles starting before that (eg. the REPO Rate crisis). These IMF forecasts likely are too optimistic.  –Bob]

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Time To Revisit Lifetime Supreme Court Appointments

It was my understanding that the Supreme Courts’ only job was to determine if the laws and regulations passed by Congress or executive order by the President were constitutional and everything else was to be done by the state courts.

Well, they have never done that in my lifetime and became a rubber stamp for FDR not because they thought what he was doing was constitutional but because he threatened to stack the court if they didn’t.

So much for the honor and separation of the court.

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What Were the Benefits of Locking Down?

– Re-Blogged From AIER

The school closures, stay home orders, shuttering of businesses, banning of elective surgeries, closure of physical entertainment events, blocked flights, and sudden imposition of a central plan – it all happened suddenly from mid-March in the course of only a few days, and to enormous shock on the part of people who had previously taken their freedom and rights for granted.

Despite enormous pressure from Washington, eight states did not lock down or used a very light touch: South Dakota, North Dakota, South Carolina, Wyoming, Utah, Arkansas, Iowa, and Nebraska.

new york, closed stores

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Weekly Climate and Energy News Roundup #412

Re-Blogged From WUWT

Quote of the Week: “Aqueous vapor [water vapor] is a blanket, more necessary to the vegetable life of England than clothing is to man. Remove for a single summer-night the aqueous vapor from the air which overspreads this country, and you would assuredly destroy every plant capable of being destroyed by a freezing temperature. The warmth of our fields and gardens would pour itself unrequited into space, and the sun would rise upon an island held fast in the iron grip of frost.” – John Tyndall (“Heat: A Mode of Motion”, 1861) [H/t William Happer]

Number of the Week: Daily change of 100⁰C (or daily change of 180⁰F)

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California Rules Trucks Must Be Electric

Re-Blogged From CBS News

California regulators approved new rules on Thursday that would force automakers to sell more electric work trucks and delivery vans, a first-of-its-kind rule aimed at helping the nation’s most populous state clean up its worst-in-the-nation air quality.

The rules, which would not take effect until 2024, will require at least 40% of all tractor trailers sold in California to be zero emission by 2035. For smaller trucks, including models like the Ford F-250, 55% of all sales would be zero emission by 2035. The standard is the toughest for delivery trucks and vans, with 75% of sales required to be zero emission by 2035.

California already has similar rules in place for passenger vehicle sales. But no one has yet imposed rules like these for work trucks, which unlike passenger vehicles are purchased with the intent of returning a profit.

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A “Godzilla Dust Cloud” From the Sahara Desert Is Hitting the United States Right Now

Godzilla Cloud

After wreaking havoc on air quality readings in the Caribbean, dust from the Sahara Desert just arrived at the US gulf coast, forming what experts referred to as a “Godzilla dust cloud.” It’s so large, it can be easily seen and tracked from space.

“This is the most significant event in the past 50 years,” Pablo Méndez Lázaro, an environmental health specialist with the University of Puerto Rico, told AP earlier this week. “Conditions are dangerous in many Caribbean islands.”

“The ongoing Saharan #dust outbreak across the tropical Atlantic is *by far* the most extreme” since records of global dust began in 2002, atmospheric scientist Michael Lowry tweeted on Wednesday.

Aussie Royal Commission to Investigate how Climate Activists “Hijacked” Forestry Management

By Eric Worrall – Re-Blogged From WUWT

CSIRO Project Aquarius experimental fire Block 20, 1/3/83, McCorkhill, WA. Fire emerging from block 1 hour after ignition. Crowning of intermediate tree layer. Intensity 7500 kW/m, rate of spread 800-1000 m/h. CSIRO [CC BY 3.0], via Wikimedia Commons

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2020 Economic Predictions: This Series of Unfortunate Events Guarantees the Epocalypse

Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Some are so bad that just a few of them would plunge us into an abyss of social and financial catastrophes.

Here are my economic predictions for the remainder of 2020

This list of economic predictions is not hard to come up with. It is, however, the fact that it is so easy to predict these things this year that makes this year’s list so important.

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AG Bill Barr on Minneapolis and Police Reform

[While I haven’t included much about racial goings on, here is a brief clip (starting at the 36 second mark), with US AG Bill Barr.  –Bob ]

By Gary Franchi – Re-Blogged From Informing America

The following story is brought to you courtesy of The Next News Network. Click the link to visit their page and see more stories.

Jim Hoft from The Gateway Pundit reports, Attorney General Bill Barr joined Maria Bartiromo this morning on Sunday Morning Futures. The two discussed the recent police killings and resulting violent Black Lives Matter protests.

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Gold, Copper And Silver Are Must-Own Metals

Gold surged on Monday after a spike in coronavirus cases worldwide dashed hopes of a quick economic recovery. Within 24-hours the number of infections globally rose 183,020, a new record, the World Health Organization reported, Reuters said the US saw a 25% increase in new COVID-19 cases over the week ending June 21st.

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A Can Too Big For The Fed And ECB

There are lies, damned lies, and economists. Whether these economists work for the government or a bank, they spend all their time on the computer extrapolating current trends with minor adjustments.

If you want to understand the future, don’t spend your life preparing and constantly revising an Excel sheet with masses of economic data. Collective human behaviour is extremely predictable. But not by spreadsheet analysis but by studying history.

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Do Jobless Claims Point To Sluggish Recovery

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

Jobless claims paint a much grimmer picture than other pieces of economic data. So, the Fed (and other central banks) will remain dovish for years, which should support gold prices.

More and more economic reports show the beginning of the economic recovery in the U.S. Following the retail sales earlier last week, the Philly Fed Manufacturing Index turned from negative 43.1 in May to positive 27.5 in June, the first positive reading since February. And the Leading Economic Index rose 2.8 percent in May, after a record plunge in the two prior months.

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Defaults Are Coming

By Keith Weiner – Re-Blogged From Silver Phoenix

We are reading now about possible regulations for air travel. In brief: passengers might be forced to spend hours at the airport. Authorities will perform medical checks, including possibly needles to draw blood, no lounges, no food or drink on board the plane, masks required at all times, and even denied the use of a bathroom except by special permission.

We would wager an ounce of fine gold against a soggy dollar bill that people will hate this. The majority of vacationers will not want to fly. A holiday is supposed to be fun, and air travel promises to be a lot less fun that it was in March.

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Climate Statistics 101: See the Slide Show AOC Tried, and Failed, to Censor

By Caleb Rossiter – Re-Blogged From WUWT

This is the slide show and 20-minute talk that Representatives Alexandria Ocasio-Cortez and Chellie Pingree tried to censor at the LibertyCon 2020 conference in Washington, D.C. After Dr. Rossiter gave a climate talk at LibertyCon 2019, they wrote to sponsors of the event, such as Google and Facebook, and asked them not to fund any event with an appearance by “climate deniers” from the CO2 Coalition. See http://co2coalition.org/2019/01/30/representatives-ocasio-cortez-and-pingree-and-climate-change-debate/

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Could Entomophagy End U.S. and African Protein Shortages?

By Paul Driessen – Re-Blogged From WUWT

Would we even want it to do so? A modest proposal, inspired by Jonathon Swift.

Nearly two centuries ago, amid a fungal infestation that destroyed Irish potato crops and brought famine, starvation, death, and the emigration of countless men, women and children, Gulliver’s Travels author Dr. Jonathon Swift offered “A Modest Proposal for preventing the children of poor people in Ireland from being a burden on their parents or country, and for making them beneficial to the publick.”

Dr. Swift suggested that children too young to work could be eaten in place of potatoes. As he explained, “a young healthy child well nursed, is, at a year old, a most delicious, nourishing and wholesome food, whether stewed, roasted, baked, or boiled; and I make no doubt that it will equally serve in a fricasee, or a ragoust.” Surely, he said, this is preferable to aborting unborn or murdering newly born children.

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Supreme Court Overrules Previous Court Decision, Approves Permit For Atlantic Coast Pipeline

By Varun Hukeri – Re-Blogged From WUWT

The Supreme Court ruled Monday that a permit for the Atlantic Coast Pipeline, a proposed natural gas pipeline which would be built under the Appalachian Trail, would be reinstated.

In a 7 to 2 decision, the justices tossed out a decision from a lower court and ruled that the U.S. Forest Service can grant rights-of-way for developers in land within national forests, the Associated Press reported. Energy companies and the Trump administration supported reinstating the permit, while environmental groups opposed it.

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The European Green Deal is a Bad Deal

By Marcus Holtkoetter – Re-Blogged From AGWeb

The European Commission has a plan to eliminate modern farming in Europe.

The details emerged last month, as part of a “European Green Deal” announced late last year that calls for the continent to become “climate neutral” by 2050.

The commission speaks of “turning climate and environmental challenges into opportunities.” It also talks about “making the transition just and inclusive for all.”

It should have added three words: “except for farmers.”

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Weekly Climate and Energy News Roundup #412

By Ken Haapala, President, Science and Environmental Policy Project

Re-Blogged From WUWT

Quote of the Week: “I can live with doubt and uncertainty and not knowing. I think it is much more interesting to live not knowing than to have answers that might be wrong. If we will only allow that, as we progress, we remain unsure, we will leave opportunities for alternatives. We will not become enthusiastic for the fact, the knowledge, the absolute truth of the day, but remain always uncertain … In order to make progress, one must leave the door to the unknown ajar.” – Richard Feynman

Number of the Week: 11,000 & 1,600

Dynamics in the Tropics: In 2017, Judith Curry retired from her tenured position as a professor at the School of Earth and Atmospheric Sciences at the Georgia Institute of Technology, where she had been Chair of the department, to focus on her private firm, Climate Forecasts Applications, citing the “craziness” of the field of climate science and the great politization of research funding. She has long recognized that there are major problems in the field, particularly in the dynamics of the atmosphere and the oceans in the tropics. As a climate modeler, she has first-hand knowledge of these problems, yet to be solved.

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Covid-19 Could Accelerate the Robot Takeover of Human Jobs

 – Re-Blogged From MIT Technology

Machines were supposed to take over tasks too dangerous for humans. Now humans are the danger, and robots might be the solution.

Inside a Schnucks grocery store in St. Louis, Missouri, the toilet paper and baking ingredients are mostly cleared out. A rolling robot turns a corner and heads down an aisle stocked with salsa and taco shells. It comes up against a masked customer wearing shorts and sneakers; he’s pushing a shopping cart carrying bread.

The robot looks something like a tower speaker on top of an autonomous home vacuum cleaner—tall and thin, with orb-like screen eyes halfway up that shift left and right. A red sign on its long head makes the introductions. “Hi, I’m Tally! I check shelf inventory!” A moment of uncertainty ensues. Tally freezes, sensing the human, and the customer pauses, seeming unsure of what to do next. Should he maneuver around the robot? Or wait for it to move along on its own? After a few seconds, the customer chooses to divert, and heads down another aisle.

Franziska Barczyk

Welcome to Renewable Energy Australia, Where Businesses are Paid to Shut Down

By Eric Worrall – Re-Blogged From WUWT

h/t JoNova – Australia’s increasingly precarious green energy grid is forcing curbs on economic activity, with plans to pay energy intensive businesses to shut down during periods of high demand, to minimise the political risk of voters noticing what a mess their electricity supply is.

Electricity users will get paid to cut energy use under historic new market reform

By Stephen Long Posted Yesterday, updated Yesterday

Electricity consumers will be paid for reducing their power demands under a radical change to the market that will be introduced next year.

Key points:

  • ‘Wholesale demand response’ will come into effect in October 2021, allowing large electricity users to be paid for reducing demand
  • Big energy generators and retailers had wanted to delay the change, citing the COVID-19 crisis
  • Some advocacy groups want to extend the scheme to households and small businesses

The historic rule change announced on Thursday will allow what’s known as “wholesale demand response” — where the wholesale market can pay users for cutting electricity consumption, rather than paying electricity generators to increase supply, when the system is under strain.

The shift, which will begin in October 2021, has been adopted by the Australian Energy Market Commission (AEMC) despite opposition from big energy generators and retailers, who were using the COVID-19 crisis to pressure for delaying the rule changes.

The commission has described the change as “an important reform to the NEM (National Electricity Market)”.

It argues it will reduce electricity prices for consumers and improve reliability on the network, by allowing demand response to compete with “peaking” electricity generators that typically receive very high prices for supplying additional electricity during times of heavy demand.

The rule changes are a major victory for a coalition of community and environment groups that fought for the shift to demand response — the Public Interest Advocacy Centre, the Australia Institute and the Total Environment Centre.

“Big energy users like factories and farms will be able to earn money by saving energy during heatwaves and at other times when electricity prices are high,” the Australia Institute’s energy lead Dan Cass said.

Read more: https://www.abc.net.au/news/2020-06-11/customers-paid-for-reducing-electricity-demand-radical-change/12343790

Earning money for shutting down factories and farms and not producing anything – what could possibly go wrong?

The goal of going full renewable is impractical, maybe impossible. A study in 2019 identified the cost of going renewable is an expansion of mining and industry, with increases in industrial activity around 35 – 105% (and in the case of lithium an eyewatering 2700%) just to satisfy existing energy needs.

When you add in the need to increase energy to supply all that additional mining and industry, the upper end of that estimate is likely a runaway equation, in which renewable infrastructure can never catch up with the energy demands of new industry and mining required to build and maintain renewable infrastructure – especially if everything has to shut down and stop producing whenever weather conditions are unfavourable.

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The Crisis Goes Up A Gear

By Alasdair Macleod – Re-Blogged From Gold Eagle

Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March. This article examines the possibility that it marks the beginning of the end for the Fed’s dollar.

At this stage of an evolving economic and financial crisis, such thoughts are necessarily speculative. But an imminent banking crisis is now a near certainty, with most global systemically important banks in a weaker position than at the time of the Lehman crisis. US markets appear oblivious to this risk, though the ratings of G-SIBs in other jurisdictions do reflect specific banking risks rather than a systemic one at this stage.

A banking collapse will be a game-changer for financial markets, and we should then worry that the Fed has bound the dollar’s future to their fortunes.

The dollar could fail completely by the end of this year. Against that possibility a reset might be implemented, perhaps by reintroducing the greenback, which is not the same as the Fed’s dollar. Any reset is likely to fail unless the US Government desists from inflationary financing, which requires a radically changed mindset, even harder to imagine in a presidential election year.

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Alternate Unemployment Charts

By John Williams – Re-Blogged From Shadow Stats

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.

 

Public Commentary on Unemployment

Unemployment Data Series   subcription required(Subscription required.)  View  Download Excel CSV File   Last Updated: June 5th, 2020

May 2020 ShadowStats Alternate Unemployment is 34.0%, 36.5% net of BLS errors (Flash Nos. 1435 and 1439).

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New Trick Could Save Agriculture Even If All the Bees Die

Pollen Jocks

Should bees die off at a catastrophic rate, a team of scientists has a new technique they say we could use to continue to pollinate plants without them.

It turns out that soap bubbles — like the ones you might make with a kid’s toy — can carry pollen as they float around, CNET reports. After mounting bubble makers onto the bottom of drones, scientists successfully pollinated a pear orchard, suggesting a possible way to grow crops should we fail to restore bee populations.

Bubble Boys

Previous attempts to automate pollination tend to involve replacing bees with miniature robots that would fly from plan to plant like their biological counterparts. But the Japan Advanced Institute of Science and Technology researchers behind the new study, published Wednesday in the journal iScience, found that soap bubbles were far gentler on the plants, to say nothing of the challenges of actually building mini bee-bots.

Retail Sales Headlines Are A Complete Joke

By Dave Kranzler – Re-Blogged From Silver Phoenix

The stock market promoting mainstream media this morning reported “U.S. Retail Sales Rose Record 18% in May” (e.g. the Wall St Journal).  The S&P futures jumped from up 45 points to up 90 points.

But, as usual, the details are in the fine print of the report itself, and it’s apparent that nobody in the financial media bothered to look beyond the headlines.

In fact, the 18% rise is measured from April’s report, which was heavily depressed due to the shelter-in-place restrictions and the closure of many retail businesses. Funny thing about using the percentage change as the metric of measurement. If April had one dollar of retail sales and May had two dollars, the percentage gain would have been 100%.

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California Continues to Inflict More Costs onto the Energy Used by Residents

By Ronald Stein – Re-Blogged From WUWT

Ambassador for Energy & Infrastructure, Irvine, California

 

Rather than reducing demand, the state imposes more costs on the supply

The 9th Circuit Court of Appeals decided on May 28th that climate lawsuits filed by San Mateo County and the cities of San Francisco and Oakland asserting a California public nuisance claim against five energy companies arising from the role of fossil fuel products in global warming can proceed in state court. The lawsuits utilize an obscure area of the law called “public nuisance” to place the blame for global climate change on a few energy companies that develop and sell the energy used by consumers and businesses.

What San Francisco, Oakland, and Governor Newsom fail to understand is that the oil and gas industry is not just a California business with its few refineries,  but an international industry with more than 700 refineries worldwide that manufacture the derivatives from oil that are needed to make more than 6,000 products, as well as the various fuels to the world to operate planes, trucks, construction equipment, merchant ships, cruise ships, and automobiles.

Without the California energy suppliers operating in the 5th largest economy in the world, the state would become a national security risk for the entire country being dependent on foreign countries for our existence.

If the GND ever gets fully implemented in California, we’ll have no refineries manufacturing in -state. We would be getting all those thousands of products from the derivatives from oil, and our fuels from foreign refineries via ships to our ports. Newsom may have difficulty suing offshore refineries for their nuisance to society!

When placed in the context of more onerous regulations during a global pandemic ravaging the American and California economy, this environmental crusading is particularly concerning. Despite this fact, certain voices in the environmental movement have continued to leverage the pandemic to attack the suppliers that only exist to meet the demands of society.

California has methodically driven most manufacturing out of the state, as it’s been more cost effective to import much of the demands of our society from locations outside the state that can manufacture our needs and transport them to the state.

This “outsourcing” concept has yet to be realistic for the daily demands of jet fuel, diesel fuel, gasoline, and for all those derivatives from crude oil that are needed by thousands of products in our daily lives. If it were more cost effective to import those energy needs from foreign locations, it would already be in place.

The COVID-19 induced impacts on our social lifestyles, was a virtual shutdown of airports, cruise ships, most forms of transportation, restaurants, and the leisure and entertainment industry. The resultant reduction in demand dramatically impacted the supply chain for all the energy needed to meet the social needs of society.

The pandemic gave us a preview of what weaning our economies off fossil fuel-addiction that our social lifestyles have become, as we try to accelerate the transition to greener alternatives of intermittent electricity from wind and solar.

During the quarantine, it was almost like living in the 1800’s with virtually no transportation systems, but and that’s a BIG BUT, we were able to survive the quarantine as we benefited from all those products derived from the derivatives from oil that produced all the critical medical equipment like ultrasound systems, ventilators, CT systems, and X-ray, medicines, masks, gloves, soap and hand sanitizers for hospitals, and protective gear for doctors and nurses, and all the electronics and communications equipment that allowed us to work virtually.

Yes, we may be using fossil fuels too extensively for leisure, entertainment, and travel but the developed world is where it is today, healthier, and wealthier, because of all those products we get from those oil derivatives. As we weed ourselves from oil, we will need to lower our demands for leisure, entertainment, and transportation infrastructures that COVID-19 has shown us the way.

The same politicians that are thrashing on in-state energy suppliers, and seeking their demise, are the same ones reaping the benefits of the medications, medical equipment, communication networks, and the thousands of other products from that industry that have contributed to their lifestyles, and their ability to live beyond 80 years of age.

All the lawsuits and bizarre laws and regulations against the local energy suppliers will most likely result in a hodgepodge of lawsuits across the nation that burden our court system, create uncertainty and fail to create any real solutions. They will continue to invoke more self-inflicted costs on the suppliers to be paid by the users.  In the meantime, those 700 foreign suppliers remain ready to meet the demands of society.

The costs to import the energy into California from those foreign suppliers to meet local demands are currently more expensive than we are now paying, which is already the most expensive in the country. The emissions from those foreign refineries will be greater than those in California as foreign environmental regulations are significantly less stringent than those locally.

Until the voters say enough-is-enough, the infliction of more costs by our elected officials and environmentalists onto the suppliers, that are paid by the users, will continue into perpetuity.

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Remaking Post-Covid-19 Capitalism in the West: Lessons for the East

By Tilak Doshi – Re-Blogged From WUWT

As the world emerges painfully from  the lockdown cure that is likely to be far worse than the disease of Covid-19, we are now being sold yet another bill of goods. We are told from almost every quarter that the economic recovery from the pandemic-panic induced lockdowns has to be “green”. Political leaders and mass media editors hitched to the climate change bandwagon cite the well-known if cynical slogan “never let a crisis go to waste” – commonly attributed to former President Obama’s Chief of Staff Rahm Emmanuel.  Politicians and “thought leaders” ceaselessly claim that massive sums of money need to be spent on economic stimulus plans to recover from the self-induced economic coma and that the spending has to  be “sustainable” (aka “green”). Not only will this save us from the “crisis of capitalism” but it is deemed vital for the future of human civilization itself.

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Climate Litigation: Big Oil Must Fight on the Science or Die

By Christopher Monckton of Brenchley – Re-Blogged From WUWT

  • This will be a long posting. You have been warned.

The news that the Ninth Circus in California has decided that global warming is a State rather than a federal matter highlights a costly and now potentially ruinous strategic failure on the part of big oil.

Two loony-Left cities brought a case in the District Court for Northern California alleging that the oil corporations were causing a nuisance by engaging in their trade – a lawful and necessary trade at State as well as Federal law – of extracting, processing, distributing and selling petroleum products.

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Big Tech Pandemic

By Leo Goldstein – Re-Blogged From WUWT

Patients in Wuhan, China, are being saved with high-dose vitamin C. In the U.S., you can get your Twitter or Facebook account deleted or your video scrubbed for even talking about it.

American Association of Physicians and Surgeons

The Statistics

Strikingly, the 10 countries with the highest COVID-19 mortality rates are large Western countries, including the US, UK, France, Spain, and Italy. The non-Western country with the highest mortality rate is Ecuador, ranked at #13. Ecuador only has 195 deaths/million, however, compared with the median of around 450 deaths/million in the “top 10”. No Asian countries make the top-20 list despite being close to the epicenter of the epidemic and having high population densities. No African country makes the list despite many having much traffic from China.

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Weekly Climate and Energy News Roundup #411

By Ken Haapala, President, Science and Environmental Policy Project

Re-Blogged From WUWT

Quote of the Week: “It is in the admission of ignorance and the admission of uncertainty that there is a hope for the continuous motion of human beings in some direction that doesn’t get confined, permanently blocked, as it has so many times before in various periods in the history of man.” – Richard Feynman, The Meaning of It All: Thoughts of a Citizen-Scientist

Number of the Week: 10% loss

An Inverse? Traditionally in Washington, Fridays are a slow news day and during June reporters, and others, would be leaving early for the beach or for other activities. During the Obama Administration, regulatory agencies often would announce expanded regulations on Fridays giving time over the weekend to assess the response.

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The Green New Deal Dress Rehearsal

By Paul Driessen – Re-Blogged From WUWT

The Covid-19 lockdown as a blueprint for a permanent economic shutdown to ‘save the Earth’

More than 1.4 million cases of Wuhan Coronavirus and 106,000 deaths in the United States alone have accompanied stay-home lockdowns, businesses bankruptcies, over 40 million unemployed workers, plummeting tax revenues and unprecedented debt. Ongoing rioting, vandalism, arson and looting are compounding problems for many cities and minority communities.

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Gold-Futures Firepower Mounts

By Adam Hamilton – Re-Blogged From Gold Eagle

Gold’s powerful post-stock-panic upleg hasn’t enjoyed buying support from the gold-futures speculators.  These influential traders often drive and even dominate major gold-price trends.  But they’ve been subtly selling into gold’s sharp recent rally.  Their dogged skepticism is actually very bullish for gold in coming months.  Gold-futures speculators are amassing big gold-futures-buying firepower that will be unleashed.

The maelstrom of extreme fear spawned by mid-March’s stock panic even briefly sucked in gold.  It had surged to a 7.1-year secular high of $1675 during the initial weeks of that heavy stock-market selling.  But once that went panic-grade, which is major stock indexes plummeting 20%+ in 2 weeks or less, even gold was dumped in the frantic dash for cash.  Similar to prior panics, gold plunged 12.1% in just 8 trading days.

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COVID-19 Global Economic Downturn not Affecting CO2 Rise

By Roy W. Spencer, Ph. D. – Re-Blogged From WUWT

The Mauna Loa atmospheric CO2 concentration data continue to show no reduction in the rate of rise due to the recent global economic slowdown. This demonstrates how difficult it is to reduce global CO2 emissions without causing a major disruption to the global economy and exacerbation of poverty.

After removal of the strong seasonal cycle in Mauna Loa CO2 data, and a first order estimate of the CO2 influence of El Nino and La Nina activity (ENSO), the May 2020 update shows no indication of a reduction in the rate of rise in the last few months, when the reduction in economic activity should have shown up.

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‘Professor Lockdown’ Modeler Resigns in Disgrace

By John Fund – Re-Blogged From National Review

Neil Ferguson is the British academic who created the infamous Imperial College model that warned Boris Johnson that, without an immediate lockdown, the coronavirus would cause 500,000 deaths and swamp the National Health Service.

Johnson’s government promptly abandoned its Sweden-like “social distancing” approach, and Ferguson’s model also influenced the U.S. to make lockdown moves with its shocking prediction of over two million Americans dead.

Epidemiologist Neil Ferguson speaks at a news conference in London, England, January 22, 2020. (Reuters TV)

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Who’s More Radical: The Left or the Right?

By Will Witt

What would America look like if the Left got everything it wanted? What would America look like if the Right got everything it wanted? PragerU’s Will Witt fleshes out each of these scenarios in this provocative thought experiment.

Please watch the VIDEO

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Truck Drivers Say They Won’t Deliver To Cities with Defunded Police Departments

As cities across the country are discussing defunding or disbanding their police departments, truck drivers are voicing concerns of safety. Seventy-seven percent of truck drivers say they will refuse to deliver freight to cities with defunded police departments.

Truck driving is historically ranked as one of the most dangerous jobs in the country. In 2018, U.S. Bureau of Labor Statistic reported truck driving as the most deadly job in the country.

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Ghanaian tourism minister calls for African-Americans to ‘leave when you are not wanted’

‘You do not have to stay where you are not wanted forever. You have a choice and Africa is waiting for you,’ the minister said

Black Americans of African descent should return to the continent because they are not wanted in the United States, a government minister in Ghana has said.

Barbara Oteng Gyasi, the country’s tourism minister, urged black Americans to return “home” during an emotional ceremony in the Ghanaian capital Accra to mark the death of George Floyd.

“We continue to open out arms and invite all brothers and sisters home,” Ms Oteng Gyasi said. “Ghana is your home. Africa is your home. We have arms wide open, ready to welcome you home.

“You do not have to stay where you are not wanted forever. You have a choice and Africa is waiting for you.”

Ghana launched a campaign in 2018 to persuade black Americans either to move to the country or to visit it as tourists. “The Year of Return” initiative marked the quatercentenary of the first documented shipment of slaves from Africa across the Atlantic to the New World….

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The Law-Of-Diminishing Returns Is Taking Hold Of The FOMC’s “Monetary Policy”

By Mark J Lundeen – Re-Blogged From Gold Eagle

I had excellent timing for my vacation, with not much happening until this week; and what happened this week? On Monday’s close the Dow Jones came within 7% of its last all-time high (BEV Zero). What could go wrong and prevent the Dow Jones from making a historic new all-time high sometime in the coming weeks? Only Mr Bear, who in the next three days began clawing back market valuation with relish.

On Thursday the venerable Dow Jones began upchucking dollars, coughing up 1,862 of them in a single NYSE trading session, taking the Dow Jones all the way back down to its BEV -15% line in the chart below. Last Monday, it appeared the BEV -17.5% line was no longer a technically important level. The question in my mind now is will the Dow Jones once again advance into single digits in the BEV chart below, or find itself closing below its BEV -17.5% line?

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Trump Plans to Bring Home 9,500 US Troops from Germany

Re-Blogged From Liberty Headlines

‘There’s still going to be 25,000 American troops in Germany…’

After more than a year of threats to start pulling U.S. troops out of Germany unless Berlin increases its defense spending, President Donald Trump appears to be proceeding to cut the U.S. military contingent by more than 25%.

About 34,500 American troops are stationed in Germany — 50,000 including civilian Department of Defense employees — and the plan Trump reportedly signed off on last week envisions reducing active-duty personnel to 25,000 by September, with further cuts possible.

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AP Photo: President Donald Trump and first lady Melania Trump.

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Biden’s Green New Deal Turns One

By Robert L. Bradley, Jr. – Re-Blogged From WUWT

One cannot know what is going on in a certain Wilmington, Delaware, basement. But so far, the presumptive Democratic Party presidential nominee Joe Biden has committed to go far beyond the activism of President Obama and 2000 nominee Al Gore in regard to energy and climate policy.

Last June 4, Biden released a 22-page, 10,000-word Joe’s Plan for a Clean Energy Revolution and Environmental Justice that can be reduced to 17 words: “Biden believes the Green New Deal is a crucial framework for meeting the climate challenges we face.”

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David v. Goliath in Cyberspace

Reposted from The Pipeline

By Clarice Feldman – Re-Blogged From WUWT

In his 20007 book, An Army of Davids, Glenn Reynolds, the founder of Instapundit, wrote optimistically that an army of ordinary people (“Davids”) could use technology and the market to beat the Goliaths of “Big Media, Big Government and other Goliaths.” Thirteen years later, big media is on the ropes but the Silicon Valley Goliaths, using the technology and market forces at their disposal, have shut out of the marketplace Davids opposed to their preferred opinions. Not the least of their favored views has been the notion that we are in an existential crisis of climate change for which the only remedy is killing reliance on traditional energy sources.

Vintage antique illustration and line drawing or engraving of biblical story about David who beaten Philistine warrior Goliath.From Biblische Geschichte des alten und neuen Testaments, Germany 1859. Samuel 17.

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Models Can’t Accurately Predict Next Week’s Weather, So Why Should We Trust Them To Predict Climate Change?

By Daniel Turner, The Daily Caller – Re-Blogged From WUWT

It’s curious … SpaceX has all the money in the world, and they didn’t hire someone who could have accurately predicted the afternoon weather in Florida on May 27, 2020.  Seems like a huge oversight, doesn’t it?  And to think there are scores of nonprofit leaders and academics in Washington, DC who can accurately predict global temperatures 10, 15, even 50 years into the future.

Oh, stop it with the “climate isn’t weather” rebuttal. It’s trite and silly. The guys who says “food isn’t cuisine” is a food critic, and by default, haughty and obnoxious.

How about this one: science isn’t semantics.

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Aussie Federal Senator Defends Call to Leave the Paris Agreement

By Eric Worrall – Re-Blogged From WUWT

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Silver Is Going To Have A Sudden, Massive Move To $50 That Everyone Will Be Surprised Over

By Mike Gleason – Re-Blogged From Silver Phoenix

Mike Gleason: It is my privilege now to welcome back Michael Pento president and founder of Pento Portfolio Services. Michael is a well-known money manager, market commentator, and author of the book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market. He’s been a regular guest with us over the years, and it’s always a pleasure to have him on with us.

Well, Michael, it’s been a few months since we’ve had you on last and just a little bit has been going on in the world. COVID-19 has hit the states to say the least and caused major disruptions in the economy. Governors have instituted stay-home orders. Tens of millions of people have filed for unemployment. Now we’re seeing major rioting and social unrest in many cities throughout the country over the police killing of a black man in Minnesota last week.

And in the face of all that, the markets are seemingly doing just fine. Stocks are still rallying and it doesn’t seem like Wall Street is all that concerned about any of this. So, let’s get your take on what’s going on there, Michael, because it’s pretty hard to connect the dots between Wall Street and Main Street these days. Help us out there.

Michael Pento: Yeah. So nothing is going on that much this year at all, right? It’s been pretty boring. </sarc>  The divide between the rich and the poor, which was already humongous coming into this year has grown exponentially. And you have to ask yourself the question, gee, if GDP, according to the Atlanta Fed is going to drop in the second quarter by over 52%, that is a seasonally adjusted annual rate, Mike. GDP is going to be cut in more than half during the second quarter of 2020, how in God’s name could it be possible that stocks are close to all-time record highs? And by evaluation metric at all-time record highs. There are about over 150% of GDP.

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Restaurants Are in Need of a Helping Hand. Miso Robotics Is Offering Them One. Literally.

By Rachelle Dragani – Re-Blogged From Futurism

Flippy the robot flips cooks burgers to perfection.

Dining out looks pretty different these days. It’s natural to pine for the past, but many quick service restauranteurs are also looking ahead to a future where automation will be the key to drastically increasing their notoriously thin margins and allowing their workers to shine in the tasks no machine can do.

Robots in the workplace can get a bad rap—most people aren’t trying to get replaced by one. But the smartest and most innovative robotic companies aren’t designing teams of droids that send people packing. Instead, they’re crafting intelligent machines that work alongside workers, increasing efficiency and profits in the process.

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MMT —It’s Just Neo-Keynesian Macroeconomics

The doyenne of MMT, Stephanie Kelton, has published a book this week explaining modern monetary theory. This article examines the foundations of MMT which Kelton explained in an earlier video released last year.

Introduction

Macroeconomics has become so far removed from reality that its practitioners cannot understand what is happening in the real economy. Never has this been more obvious than today. While they claim to be economically literate, macroeconomists are in thrall to their paymasters; a combination of government, quasi-government and financial institutions with a vested interest in not looking too closely at the full consequences of government economic and monetary policies. From this neo-Keynesian macro world, the latest spinoff is modern monetary theory, which is little more than a logical extension of Keynesianism —justifying intervention by the state and the use of fiat currency being expanded limitlessly. MMT is the end of the line for arguments based on macroeconomic fallacies that have their origin in Keynes.

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