Sundance, "The Great Economic Pretending Yet Again Meets Main Street Reality"
The great economic pretending is predicated on denying that major western economies are shrinking because political leaders are collectively destroying cheap and reliable energy production (oil, coal, gas), while simultaneously chasing expensive and [un]sustainable energy development (wind, solar).
The Build Back Better / Green New Deal climate change agenda is destroying every economy based on ‘collectively agreed‘ energy policy. Energy driven supply side inflation is crushing consumers in every western economy. Sales and purchases of goods have stopped. Affording food, fuel and housing is the focus of billions. Yet, denial is everywhere.
It was not that long ago, June 23rd to be precise, when Fedex gave a forward-looking forecast based on existing operational results. In late June Fedex anticipated a generally stable continuation of business operations. Here we are, three months later and Fedex business collapsed in the last quarter. CEO Raj Subramaniam says shipping demand unexpectedly plummeted. The great economic pretending meets reality.Keep in mind, about six weeks ago Maersk, the international shipping company that delivers millions of containers of goods all around the world, mostly by ship, said they saw demand and orders plummeting as shipping warehouses were full of unsold goods {link, Aug 3rd}.
[The Fedex Collapse] – […] The company scrapped its forecast for its earnings in its current fiscal year that it had issued less than three months ago. For the three months ended Aug. 31, FedEx now projects adjusted earnings per share of $3.44 and $23.2 billion in revenue. That’s below analysts’ consensus forecast of $5.14 adjusted earnings per share and $23.6 billion in revenue, according to FactSet. (more)
The company is also revising its 2023 financial outlook and said it expects conditions to worsen further in its second quarter. Economists have sparred for months over whether or not the US is heading into a recession. (more)
Lazare Carnot (1784): "If man wants to progress, he must create new forms of energy of greater and greater densities" ... No matter the risk or danger these higher density forms of energy may pose to humanity and the world.
ReplyDeleteLazare Carnot did not endorse nuclear energy. It did not exist in 1784. He did not say the last bit.
"The idea of nuclear power began in the 1930s, when physicist Enrico Fermi first showed that neutrons could split atoms. Fermi led a team that in 1942 achieved the first nuclear chain reaction, under a stadium at the University of Chicago".
I never claimed the last bit.... just the part in quotes.
ReplyDeleteThe industrial revolution was built on coal and later, petroleum.
ReplyDeleteWindmills nd solar will never cut it.
ReplyDeleteLazare's son was a genius as well. Ever haer of a Carnot cycle?
ReplyDeleteCan renewable energy sources replace fossil fuels? The short answer: yes.
ReplyDeletethe Earth is making oil and natural gas faster than we'll ever use it
ReplyDeletehe short answer: yes.
ReplyDeleteI guess Europe will find out this winter.
We can transition (over time) to green energy. The transition has barely begun. It isn't complete and will be nowhere near complete by this winter.
ReplyDeleteSo the short answer is "no".
ReplyDeleteThe longer answer "could be" yes, but we're talking century+ time-frames.
ReplyDeleteNo.
ReplyDeleteEurope never froze to death before the Nordstream pipeline. They'll be alright.
ReplyDeletelol! Sure, chopping down the Black Forest might get them through this year.
ReplyDelete