Showing posts with label bailouts. Show all posts
Showing posts with label bailouts. Show all posts

Wednesday, December 14, 2022

Worrisome Predictions for 2023

Roman street vendor in Pompeii
In our western, vastly declining world, it is depressing and scary to make predictions for 2023 because we never know what other variables may intervene that may skew our reasonable forecasts based on current facts.

Several podcasters have made projections recently as we approach the end of 2022.  Some of the predictions are based on common sense, available data, economic trends that don’t seem to add up, others can be found in plain sight, and others are based on events that are unfolding as we speak.

Several medical doctors have predicted that vaccine deaths will accelerate, and infertility and stillbirths will “explode” around the world. This is certainly based on statistical data coming from various countries that have reported a drastic decrease in births, including South Korea and death statistics. Whether there is a correlation between Covid-19 vaccinations, increased death rates, and infertility or stillbirths, that remains to be studied over time.

Larry Scott Spiegelman, MD., OBGYN in South Florida said that studies on infertility looked at sperm counts before and after vaccination and found absolutely no change. “And to date nobody has shown any signs of infertility as a result of the vaccine up to 42 days after receiving a full dose.”  What about after 42 days? The Truth About COVID-19 Vaccines and Infertility | Resource | Baptist Health South Florida

Following the dictates of the Paris accord, It is not difficult to see that Europe is committing government-sanctioned societal suicide by destroying the fossil fuel industry that provides them with the energy necessary to run a developed economy.  They are also destroying fertilizers and the farmers’ ability to grow food.

The climate change globalists consider domesticated animals too flatulent and, to reduce the methane gas, humans should kill off as many farm animals as possible and eat fake meat or insects.

Crop failures and food scarcity are on the horizon when all fertilizer producers, including those in Ukraine, are taken out of production.

The Russian-Ukrainian war added more fuel (no pun intended) to the European fire of destruction of the fossil fuel industry, oil, and gas.

BASF, one of the largest conglomerates in Germany, is moving its operations permanently to China where energy is cheaper and plentiful. https://www.ft.com/content/f6d2fe70-16fb-4d81-a26a-3afb93e0bf57

The nuclear industry and the hydroelectric power generation are also taking a hit, replaced by wind and solar energy generation which does not even come close to providing the Europeans and other developed nations with what they need in terms of industrial and home energy.

Inflation will accelerate, a no brainer, based on the expensive energy and shortages of so many goods and services and the inability to produce and deliver goods across the world in a timely fashion.

Money, including the U.S. dollar and the petrodollar, will be replaced by government-mandated digital currency which will control where you spend your money, how much, whether you are a compliant-citizen, and your social score is good enough.  

You will be allotted gas credits each month, based on how far you are allowed to travel in your current car which may or may not be electric but it will have a kill-switch; how much money you can spend on medicines, which doctors you may see, whether you will be allowed into a hospital or not, which schools you may attend, and where you can work.

You will be taxed at higher and higher rates, whatever the government and their “banksters” will decide, and you will be allowed so much for food per day, based on caloric intake permitted by your job. Rationing of money, goods, and services will be controlled by government with their fingers on your digital currency.

The escalating inflation will trigger more government bailouts/handouts for collapsing industries like the Teamsters Union. Biden used $36 billion from the American Rescue Plan, the $1.9 trillion corona virus relief package signed into law in 2021 and gave it to the Teamsters Union to prevent severe cuts to the retirement incomes of 350,000 Teamster workers and retirees, a very convenient bailout for his supporters harmed by the very inflation Joe Biden’s policies have created. President Biden releasing $36 billion to aid pensions of union workers (cnbc.com)

More fuel scarcity will be caused by Joe Biden’s policies and the climate change industry which will demand climate lockdowns based on consumer behavior and social scores.

There will be more population revolts across the globe against governments that have stolen elections like in Brazil, angry that gasoline and natural gas are expensive and in short supply on purpose. Revolts will also flare up more against new pandemic-induced lockdowns.

There will be more pushbacks against social platforms like Twitter and Meta who still suspend access and the freedom of speech of conservatives and libertarians.

Twitter employees, behaving like the immature and entitled children that they are, have suspended President Trump, the most powerful president in the world, from their social platform, but allowed the Ayatollah on Twitter.

What would have happened if Iran had attacked the U.S. and President Trump would not have been able to communicate with the American people on our own social platforms? Have these Twitter employees, behaving like their office is a day care, gym, coffee shop, yoga meditation, and sandwich bistro, thought about the countrywide consequences of their hatred for Trump?

People are going to continue home schooling, as the quality of education in the U.S. is getting worse, and the transgender revolution is destroying the family and morals.

As inflation spikes and food shortages will become more common, people will do more home gardening, bartering for food, swapping seeds, swapping services, and building more community gardens than are currently in use.

Mike Adams predicts that the dollar might be replaced with Goldbacks and junk silver. Goldbacks are notes which contain a certain minimum of gold foil imbedded into the currency which will not have a face value and are issued with different state names on it. https://www.apmex.com/product/204989/1-utah-goldback-aurum-gold-foil-note-24k?msclkid=914e821026ae143e3f06e18a35151466&utm_source=bing&utm_medium=cpc&utam_campaign=CPA%20-%20Gold&utm_term=gold%20backs&utm_content=Goldbacks

Junk silver represents coins circulating before 1965 which contain 90% silver. Their value is based on the content of metal and not on the collectability or condition. They have value but collectors are not interested in them as coins.

Finally, another worrisome prediction involves the scarcity and distribution of medicines and medical equipment, which will affect the overall health and survivability of the population in general.

 

Monday, June 29, 2015

Bailout, Bailins, and the Greeks' Trojan Horse

Istanbul Archeological Museum Trojan Horse (Wikipedia)
While Americans are eagerly signing petitions to ban the American flag on the heels of Louis Farrakhan’s Nation of Islam leader call to ban the Stars and Stripes “due to its links to racism” or are busily banning anything attached in any way to the Confederate flag and our history, the United States and the world are in serious financial trouble driven by out-of-control debt, particularly the most visible nation of all, Greece.

Healthcare for illegals, gay marriage, and other non-stop crises occupy the American overwhelmed minds, while the Trojan Horse of huge national debt and loss of sovereignty to the globalist Transpacific Partnership (TPP) mystery “committee” are ignored.

Greece is bringing to the forefront the issue of debt, what happens when it spends 60 percent of GDP, lives from borrowed billions, and refuses to curtail spending on entitlements, expecting more bailouts from the EU, essentially Germany.

Banks and the stock exchange are closed for the week, issuing a 60 euros limit per withdrawal. Not unexpectedly the euro fell against the dollar and the British pound. Sky News reported Prime Minister Tsipras as blaming the European partners and the European Central Bank for the debacle because creditors “have refused a request to extend Greece’s international bailout beyond Tuesday, until after the referendum.” The move risks a Greek default on 1.5 billion euros payment to the International Monetary Fund.

Tsipras claims that the bank deposits of the Greek people are fully secure and the payments of wages and pensions are guaranteed. I am not so sure that is the case since Greece is carrying a government debt load of over 175 percent of its GDP.  Countries cannot service such level of debt without printing money. http://www.tradingeconomics.com/greece/government-debt-to-gdp

The European Central Bank will maintain its “emergency cash lifeline to Greece’s banks” without an increase. The Emergency Liquidity Assistance (ELA) on which Greek banks depend, if lowered, may force the country out of the Eurozone.

There were many economists, of course, who questioned the wisdom of accepting Portugal, Italy, Greece, and Spain into the EU because their monetary policies were plagued by high inflation. Others believe that a return to the drachma may not be such a bad idea.

Expecting the worse after banks announced closings, Greeks stood in long lines to withdraw cash from ATMs and many horded gasoline and food. After five years of various bailouts, demonstrations, protests, refusals to adopt more austerity measures, negotiations between the leftist government of Prime Minister Alexis Tsipras and Brussels creditors have broken down. For months economists have predicted Greece’s pull out from the Eurozone.

In preparation for the national referendum on July 5, police patrols are more visible especially around ATMs. Tsipras asked voters for a “yes” or “no” vote on the bailout proposal considered by his government as confiscatory. The plan would “raise taxes and hurt pensioners,” forcing Greeks to “an endless cycle of austerity.” But the Greeks have been told few details of the deal – nobody really knows the implications of a “yes” vote or a “no” vote and everyone fears they “would become Venezuela.”

But the well-off Greeks, fearing the election of the leftist Syriza, have already moved money out of Greece or took cash out and stored it elsewhere.

The Tsipras government favors a “no” response to the referendum because the bailouts terms are “humiliating” and would deepen Greece’s economic recession. But without bailouts, “most Greek banks would have totally collapsed by now.” http://www.dailymail.co.uk/article-3141480/Hundreds-queue-outside-banks-fears-Grexit-grow-ahead-MPs-vote-bailout-referendum.html

It has been reported that withdrawals of 500-600 million euros have emptied more than 2,000 ATMs.  When the austerity referendum was announced, people started withdrawing money. When the Greek banks reopen, would they need bail-ins like the Cypriot banks? Would the depositors be forced to accept worthless I.O.U.s for their cash?

The European Union has required its member countries to enact bail-in legislation. Bail-ins force creditors and shareholders to rescue troubled banks. Cyprus citizens holding private bank accounts had to take “haircuts,” a form of wealth confiscation. Private pension funds were raided in Poland. http://www.dcclothesline.com/2013/09/25/cyprus-style-wealth-confiscation-is-now-starting-to-happen-all-over-the-globe/

Bailouts forced taxpayers to financially rescue big banks that had engaged in risky financial activity, using the infamous “too big to fail” excuse.

How much longer can Germany sustain the very shaky European Union? Should they bring back their own currency, the Deutsche Mark? As more large deposits and capital leave Greece when banks reopen, corporate asset controls may emerge. The Greek market may be shocked and defaults of various debt instruments may emerge.

A Romanian friend, Florina, explained the Greek crisis in terms that most people can understand. “I loaned money to a family in a time of financial crisis so that they can survive, and the family did not curtail their spending, they blew the money on unnecessary stuff; now the family is holding a meeting to vote if they are going to pay me back or not. That’s Greece now.”

 

 

Monday, January 30, 2012

Green Energy Not Ready for Prime Time


G. K. Chesterton (1874-1936), a prolific English writer, said, “The whole world has divided itself into Conservatives and Progressives. The business of Progressives is to go on making mistakes. The business of Conservatives is to prevent mistakes from being corrected.”

As our President promised to “double down” on renewable energy, in spite of the bankrupted Solyndra, three more green energy companies, recipients of stimulus dollars, have collapsed.

Evergreen Energy Inc., a developer of alternative fuel products, filed Chapter 7 bankruptcy in a Delaware court on January 23, 2012. Chapter 7 bankruptcy allows the company to liquidate its assets while being protected from creditors. Evergreen Inc. has $25 million in debt and $240 million in assets. Without further financing, the company cannot continue to operate its K-Fuel facility in China. K-Fuel is a process of “refining coal before it is burned to increase energy densities and combustion efficiencies which reduce greenhouse gas emissions.”

Solyndra LLC (solar panel maker) and Beacon Power Corporation (energy storage) filed for bankruptcy last year after receiving government loan guarantees.

Solyndra received $535 million in government loan guarantees and listed in its bankruptcy papers $854.1 million in assets and $867.1 million in debt.

Beacon had $72 million in assets and $47 million debt. Beacon had built a $69 million power plant in New York with U.S. Department of Energy loans.

Ener1 Inc., a manufacturer of lithium-ion batteries for electric cars, filed Chapter 11 bankruptcy in Manhattan claiming heavy competition from Toyota, China, and Korea, and the demise of a major customer, Norway Think Global. Ener1 had received $118.5 million grant from the Department of Energy. The company has $73.9 million in assets and $90.5 million in debt.

Amonix, Inc., a manufacturer of solar panels that received $5.9 billion in stimulus money will cut 200 employees, seven months after opening a factory in Nevada. (Las Vegas Sun)

It appears that producing clean, renewable energy is not such a cheap and affordable proposition after all. In spite of the green movement’s desire to replace “dirty” fossil fuels at all costs, it is not economically feasible to do so at this time.

In addition, the bad news mounts for the progressives who want to send us back to the Stone Age with their global warming fear mongering. The faux “consensus” that global warming is man-made was challenged again by newly released temperature data showing that earth has not warmed in the past 15 years. The temperature readings came from 30,000 measuring stations.

The infamous University of East Anglia Climactic Research Unit and the Met Office confirmed, “The rising trend in world temperatures ended in 1997.” (Daily Mail)

As various scientists compare and contrast diverse methods of climate modeling that take into account the influence of solar flares and the significance of CO2 emissions, it is evident that there were severe shortcomings and misrepresentations in the theories, data, and readings advanced by progressives.

Leading climate scientists believe that the sun will no longer emit high levels of energy as it did in the 20th century and will deliver a “grand minimum” of output, opening the possibility of colder summers, very cold winters, and much shorter growing seasons for food. (The Mail)

Some scientists, however, are still very confident that “solar activity is insufficient to offset the dominant influence of greenhouse gases.”

“World temperatures may wind up a lot cooler than now for 50 years or more. It will take a long battle to convince some climate scientists that the sun is important. It may well be that the sun is going to demonstrate this on its own, without the need for their help.” (Henrik Svensmark, Director, Center for Sun-Climate Research at Danmark’s National Space Institute)

One can only conclude that the global warming alarm was manufactured based on insufficient or deliberately misrepresented data. The progressives marched on with their agenda to replace traditional fossil fuel energy sources with a non-existent green renewable energy industry, which bankrupted itself in a short time, and the conservatives did nothing to stop them.