No Contrition for the Harm Underway

Elon Musk sent a cadre of Tesla engineers into Twitter today to scour through code in search of screening botware and other types of ‘discriminatory logic’. If the USA operated as-designed, this would likely have already been done by FBI agents years ago under an investigation into systematic violation of citizens’ first amendment rights. But regardless, I’m certain that the Tesla techs will do a better job of restoring openness and neutrality on the platform than the feds would have. Noone can say when direct US-Russian war will breakout, nor when the sovereign debt crisis may descend into full chain-default mode. However there is currently one countdown-to-event staging that we do know of, namely that America has about 3 weeks until its supply of diesel of runs out; the lowest level since 1945. And when farming machinery, trucks, electrical generators, trains, ships, and barges all stop running, it will cause an economic collapse large enough to disable the country (particularly from being able to wage war against any superpower), catalyze some form of next-level market disruption, as well as next-level social upheaval. Other refined petrofuel products such as airplane fuel are in short supply as well. Even if domestic production facilities were reactivated to complement the output from the ongoing drawdown of the strategic petroleum reserve, any such new influx of crude oil seems unlikely to solve the immediate problem, given the time it takes time to refine the crude into the much-needed end products.

White Spox John Kirby give no answer as-to how the administration may rectify this fundamental failure to keep the country functioning, nor expressed any grave concern as-such. Instead, he noted that the United States will be stepping up to sell natural gas to European states (at a price significantly higher than Russia was selling it to them before the US government had the Nordstream pipelines bombed). Worse still, is the response intention indicated by some fundamentalist acolytes of the climate theology that the administration should nationalize and take over America’s fossil fuel industry (so that it can destroy it for good). US efforts to control oil and gas production beyond our border are underway. Democrats are seeking to implement “NOPEC”. which will allow the US Attorney General to sue OPEC nations in court. Janet Yellen has led and effort to implement an untenable cap on the price of Russian oil sold on global markets. If they put that in-play, expect it to backfire and fail on them just as sanctions did. Wisconsin senate candidate Tom Nelson, the Dean of Columbia’s Climate School Jason Bordoff, and others, are urging the US government to nationalize the oil and gas industry. Bordoff recently said: “Government must take an active role in owning assets that will become stranded (financially worthless), and plan to strand those assets.” 

Jamie Dimon said “We are getting energy completely wrong”. Amen. He also noted that pension funds, that are legally required to invest into bonds, many into government bonds only, added substantial leverage over this past 1.5 decades of lowest-ever interest rates in order to provide pensioners a livable stipend. There has been a substantial de-leveraging of these plans since rates have been rising. Central banks are making best-efforts to portend control over market functioning, and in some countries fiscal and monetary policy directions have become incoherent or even oppositional to one another.