Trump’s Zero-Tariff Solution

By Stephen Moore – Re-Blogged From Newsmax

President Donald Trump’s aluminum and steel tariff policies have now triggered retaliatory tariffs from other nations, including Canada, the EU, and China.

Last week President Trump imposed new tariffs on more than $30 billion of Chinese electronic equipment and other consumer goods. Our trading partners are now threatening to hit our domestic industries, including wheat, soybeans, pork, bourbon, blue jeans — and even Maine lobsters. The financial markets are jittery, to say the least.

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How China Is Muscling In on Lithium-Ion Batteries

Re-Blogged From Stratfor

Highlights

  • In spite of potential global pushback against Beijing’s investments, Chinese companies will acquire control of a majority of the lithium-ion battery market, giving the country a significant advantage in a sector of growing geopolitical importance.
  • The United States will exploit economies of scale and focus on finding domestic sources of materials as it attempts to carve out a market share amid China’s growing dominance.
  • Japan and Korea will have the most success penetrating markets in which there is significant pushback against Chinese investment, such as in North America, Australia and parts of Europe.
  • Europe will likely fall behind because its battery manufacturing capacity does not have the ability to meet its demand.
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The Green Spent By The Green Climate Fund

By Willis Eschenbach – Re-Blogged From WUWT

When President Trump pulled the US out of the Paris Climate Agreement, he also pulled us out of paying any additional money to the so-called “Green Climate Fund” (GCF). Sorry, no more green for the greenies’ fund. This is the fund which has been given $7.2 billion dollars of taxpayer money from a variety of countries. It is the fund that countries around the world have been pushing hard to get their hands on. It is also the fund that was supposed to be given $100 billion, so they could parcel it out for corrupt third world politicians and greedy UN rent-seekers to swim around in for decades … dream on.

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Poverty and Energy

By Andy May – Re-Blogged From http://www.WattsUpWithThat.com

Poverty and access to energy are closely related. Although it probably isn’t possible to show that access to energy is the key reason so many have been lifted out of poverty in recent decades, the data and logic suggests that this so. In the United States, the average person uses about 300 million BTUs of energy per year according to the EIA. This is equivalent to the manual labor of 69 healthy people working hard for 6 hours per day. Worldwide, the average person uses 73 million BTUs, the equivalent of 16 hardworking people.

Prior to the industrial age, which began with the first practical coal- and wood-fired steam engines between 1712 and 1776, slavery, bonded servants and serfs were common, this group made up over 90% of the world’s population in 1800. For a few people to live well they needed lots of servants and domestic animals to do the manual labor for them. Now, in the age of electricity, petroleum and nuclear powerplants, most manual labor can be done by machines. No longer do a few wealthy people live from the labor of others, everyone who has access to energy can live well. Before the industrial age, nearly everyone was extremely poor as seen in Figure 1, today fewer than 10% are extremely poor.

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US Adds 213,000 Jobs as Unemployment Hits 4 Percent, Wages Rise

By Thomson Reuters – Re-Blogged From Newsmax

U.S. job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.

Nonfarm payrolls rose by 213,000 jobs last month, the Labor Department said on Friday. Data for April and May was revised to show 37,000 more jobs created than previously reported. The economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population.

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Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22

By John Rubino – Re-Blogged From Dollar Collapse

One of the things giving “data-driven” central banks wiggle room on their pledge to tighten monetary policy is the fact there are several definitions of inflation. In the US the thing most people think of as inflation is the consumer price index, or CPI, which is now running comfortably above the Fed’s target. But the Fed prefers the personal consumption expenditures (PCE) price index, which tends to paint a less inflationary picture. And within the PCE universe, core PCE, which strips out energy and food, is the data series that actually motivates Fed action.

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