Category Archives: Business

For the Right to Try, by Justus R. Hope, MD

A Covid patient’s last best hope is Ivermectin and the hospital won’t give it to him. The patient dies. That kind of teeth-grinding idiocy has to be brought to account and punished, severely. From Justus R. Hope, MD at thedesertreview.com:

gavel jury trial
Courtesy photo

Hospital Wins and Man Dies as Court Orders His Ivermectin Stopped

“A Fairfield Township man with COVID-19 whose wife sued to force West Chester Hospital to treat him with Ivermectin has died, according to his attorney. Jeffrey Smith died Saturday, September 25, said his attorney, Jonathan Davidson of Hamilton.

Smith, 51, was diagnosed with COVID-19 in July and was in the intensive care unit at West Chester Hospital.”

https://www.cincinnati.com/story/news/2021/10/04/man-center-legal-battle-over-ivermectin-and-covid-19-dies/5988217001/

According to a news report published October 4, 2021, “Jeffrey Smith tested positive for COVID-19 July 9, was hospitalized, and was admitted to the intensive care unit July 15. He was put on the hospital’s COVID-19 protocol of the antiviral drug, Remdesivir, along with plasma and steroids. On July 27, after a period of relative stability, Jeffrey Smith’s condition began to decline.

He was sedated and intubated, and placed on a ventilator on August 1.

Smith was in a medically-induced coma on August 20, according to an affidavit his wife filed with her lawsuit. ‘My husband is on death’s doorstep; he has no other options,’ she wrote, adding at another point that her husband’s chances of survival had dropped to less than 30%.”

In August, Judge Gregory Howard ordered the hospital, West Chester, to honor the family’s request to treat him with Ivermectin.

Judge Howard approved Dr. Fred Wagshul’s prescription of Ivermectin 30 mg daily for three weeks. Dr. Wagshul is a renowned Pulmonary Specialist who reports having treated over 2,000 patients with Ivermectin with 100% success.

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“The Revenge of the Fossil Fuels”, by James Rickards

Sunshine and windpower are renewable, but they’re also intermittent and their technology is nowhere near to making them a replacement for fossil fuels. From James Rickards at dailyreckoning.com:

What have the climate alarmists been screaming about for the past 40 years or so? Their agenda is well-known. They want to close nuclear plants; shut down coal electric generators; eliminate natural gas and oil-fired electrical plants; and substitute wind, solar and hydropower in their place.

According to the fanatics, this substitution of renewable energy sources for so-called “fossil fuels” and uranium-powered plants would reduce CO2 emissions and save the planet from the existential threat of global warming.

Everything about this climate alarmist agenda is a fraud.

The evidence that the planet is warming is slight and the effect is likely temporary with global cooling in the forecast. The contribution of CO2 emissions to any global warming is not clear and is at best unsettled science and at worst another fraud.

Most importantly, global energy demand is growing much faster than renewables can come online, meaning that oil, natural gas, clean coal and nuclear energy will be needed whether renewables grow or not.

Wind and Solar Won’t Cut It

Wind turbines and solar panels cannot be the backbone of a modern energy grid because they are intermittent sources. Wind turbines require continual wind and solar panels require continual sunlight. Turbines don’t produce when the wind stops. Solar panels don’t produce at night or on cloudy days.

I have firsthand experience with this because I once built the largest off-grid noncommercial solar panel array in New England. You learn quickly to do laundry, run the dishwasher and use other high-energy electrical appliances on sunny days because you’ll need to conserve your batteries through the snow and rain.

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Empty Christmas stockings? Don’t blame COVID; blame California, by Andrea Widburg

Behind every shortage worthy of the name lurks government. From Andrea Widburg at americanthinker.com:

The conventional wisdom from the left is that COVID is the reason that shipping containers are in the waters off California with no stevedores or truckers available to take care of them.  The implication is that if people would stop being selfish and take the vaccines, the whole problem would magically vanish.  That’s nonsense.  As a couple of astute articles explain, the problem is that California has passed two laws — one for “climate change” and the other as a sop to the unions — that destroyed much of California’s trucking industry.  Add in woes unique to the industry and COVID payments that discourage people from working and…voilà!…empty Christmas stockings.

Stephen Green, at PJ Media, explains some of what’s going on.  As a preliminary matter, truckers are aging out of the job, and new ones aren’t coming along.  Because federal law requires that truckers be at least 21, kids who leave school at 17 or 18 get involved in other careers, leaving trucker shortfalls.  Women don’t offset this problem because, as is typical for most physically difficult jobs, it’s not their thing.  Those are long-term problems.

The short-term problem, though, is that California has passed laws taking trucks off the road:

Twitter user Jerry Oakley reminds us that “Carriers domiciled in California with trucks older than 2011 model, or using engines manufactured before 2010, will need to meet the Board’s new Truck and Bus Regulation beginning in 2020.” Otherwise, “Their vehicles will be blocked from registration with the state’s DMV,” according to California law.

“The requirement is to purchase electric trucks which do not exist.”

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Are You Prepared for the Mass Repricing of Goods and Services? By MN Gordon

You turn up the monetary heat and prices go full boil. From MN Gordon at economicprism.com:

Rising consumer price inflation is not going away.  This, of course, is counter to the “transitory” argument made by Federal Reserve Chairman Jerome Powell earlier this year.

Powell’s cohort, Atlanta Fed President Raphael Bostic, recently admitted inflation is not transitory.  This admission comes with assurances the Fed will properly manage it.  We have some reservations.

The effects of rising consumer prices range far and wide.  For one, the pinch rising prices put on consumers is extraordinarily disruptive.  It acts like a hefty tax…eroding family budgets that are already stretched.  In this ongoing staglation, personal income gains lag far behind rising consumer prices.

Industrial materials and consumer goods companies also feel the pinch.  They can pass on some rising prices to consumers.  They can also absorb through lower profit margins some short term price increases.  But there are natural limits to what price increases can be absorbed and passed along.

When input costs, including raw material and labor, push the costs of the final manufactured goods above what they can readily be sold for the business motive breaks down.  Halting operations makes the most business sense.

One industry feeling the pinch of rising natural gas prices is the fertilizer business.  As we noted several weeks ago, several fertilizer plants in the UK have had to suspend operations because of soaring natural gas prices.  Here in the US we’re not aware of any fertilizer producers suspending operations.  But fertilizer prices are up, nonetheless.

In fact, the Green Markets North American Fertilizer Price Index recently soared to a record high, thus eclipsing the prior record set in 2008.  Sky high fertilizer prices will further raise the cost of food production for farmers.

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Dollar’s Purchasing Power Plunges Further, as Housing CPI Begins to Climb, Food & Energy Soar, New Vehicle Prices Spike, by Wolf Richter

Just remember that there’s one root cause for both the supply chain issues and rising prices: fiat debt creation and monetization by central banks. From Wolf Richter at wolfstreet.com:

CPI inflation highest since 2008 and 1991.

The Consumer Price Index (CPI) jumped 0.4% in September from August. The relentless series of jumps started in January when this “transitory” inflation took off. But now, “transitory is a dirty word,” as Atlanta Fed President Raphael Bostic phrased it so elegantly, because the underlying dynamics have made it persistent: as some prices back off, others are surging.

On an annual basis, CPI jumped by 5.4%, matching the June high this year, and both are the highest since July and August 2008 (5.6% and 5.4%), and all four are the highest since early 1991, according to data released by the Bureau of Labor Statistics today.

The increase was driven by numerous factors including food and rents and gasoline and utilities and new vehicles.

Food and energy can move sharply and erratically, often following prices of commodities. With food and energy removed, the “core CPI” rose by 0.2% for the month and by 4.0% year-over-year.

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Make It Make Sense To Me. I Dare You. By Raul Ilargi Meijer

There is no science under Covid totalitarianism, only self-serving propaganda that laughably calls itself science. From Raul Ilargi Meijer at theautomaticearth.com:

I thought that this, today, from our resident physician John Day in Texas deserves more attention than it gets in our Comments section. Because John is living, as we speak, the consequences of the vaccine mandates that are thrust upon doctors, nurses, pilots, etc.

You may be perfectly healthy, you may have dedicated yourself to your job, and the people you serve, for decades, but if you’re hesitant, based on your experience over all that time, about being injected with a substance that was never properly researched (can we agree on that at least?), you are now an Untermensch.

I’m just thinking: how many lives could John, and 1000s of medical professionals like him worldwide, have saved and/or made lesss stressful? How far gone must you be when you start firing the people who literally save lives, in the middle of a pandemic? What’s wrong with you?

When the only alternative you have is leaky so-called vaccines that have been proven to harm and kill many 1000s of people, and you have shunned any and all prophylactics and early treatment options? But instead you fire doctors who have made it their mission to save lives for decades?

Make it make sense to me. I dare you.

John Day MD: Monday night I was heartened to hear that Texas Governor, Greg Abbott had issued an executive order forbidding any entity within Texas from having a COVID-vaccine mandate. I did not see this as being against private businesses deciding things, but as being supporting of individual humans having the right to make their own, personal medical decisions, with somewhat less coercion. This does go against existing federal policies to withhold payment from Nursing homes and medical facilities that do not enforce COVID-vaccine mandates. It seems that the federal government can choose to withhold such payments, which will kill those businesses if they don’t comply.

That category includes the public health clinic, for which I work until the end of the month. The board decided to declare a vaccine mandate around the time that the nursing home vaccine mandate was announced by the feds. The writing was on the wall, but the official position is that it was to protect people. It elicits less cognitive dissonance to tell oneself that one is acting virtuously, rather than being coerced. That comfortable position is now superficially challenged by Governor Abbott. His executive order is now a thing, not an expected-soon thing. It is ahead of the proposed OSHA recommendations in time.

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Is Decarbonization Threatening Europe’s Energy Security? By Haley Zaremba

“Decarbonization” is going to be much more difficult than the Green New Dealers and all its other proponents think. From Haley Zaremba at oilprice.com:

  • The energy crisis that is unfolding across the globe could set the world back in terms of carbon emissions as coal and gas demand skyrockets.
  • China will burn and import more coal this year than it did last year, seriously imperiling the nation’s own emissions pledges as well as the world’s chances of avoiding the worst impacts of climate change.
  • Achieving net-zero is going to require an extremely delicate balancing act as the world struggles to move away from fossil fuels while keeping the economy running smoothly.

Later this month about 25,000 people are headed to Glasgow for the 26th annual United Nations Framework Convention on Climate Change (UNFCCC), known as COP26. The UK, this year’s host of the Conference of the Parties, has asked participants to submit more ambitious targets for emissions reductions by 2030 in order to enable the possibility of achieving global net-zero emissions by mid-century. Conference leaders have also asked for increased monetary contribution to climate adaptation and mitigation funds, and have the stated goal of finalizing the regulatory framework for implementing and enforcing the pledges made in the 2015 Paris agreement.

At the same time that the world ramps up for the latest and most robust global climate meeting, an energy crisis is unfolding in Europe and Asia which could set the world back in terms of carbon emissions, and which showcases just how difficult the road to decarbonization will be. As global economies have surged back to life in the post-pandemic era, demand for consumer goods and services has skyrocketed. While consumers have largely bounced back to business as usual, however, supply chains have not been able to keep up.

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Contagion! By James Rickards

In a massively over-indebted and interconnected world, financial collapse can spread like wildfire. The Chinese property sector may be the beginning of the conflagration. From James Rickard at dailyreckoning.com:

There has been a litany of bad news recently, including the U.S. August humiliation in Afghanistan, China’s aggressive actions against Taiwan and increased tensions with Iran, North Korea and Russia.

It will take the U.S. years, possibly decades, to recover from the debacle of August 2021 and the collapse of American prestige. All of these geopolitical events combine to undermine confidence in U.S. power.

When that happens, a loss of confidence in the U.S. dollar is not far behind.

And, perhaps most importantly of all recent bad news, is a market meltdown and slowing growth in China.

Greatest Ponzi Ever

I’ve long advised my readers that the Chinese wealth management product (WMP) system is the greatest Ponzi in the history of the world. Retail investors are led to believe that WMPs are like bank deposits and are backed by the bank that sells them. They’re not.

They’re actually unsecured units in blind pools that can be invested in anything the pool manager wants.

Most WMP funds have been invested in the real estate sector. This has led to asset bubbles in real estate (at best) and wasted developments that cannot cover their costs (at worst). When investors wanted their money back, the sponsor would simply sell more WMPs and use the money to pay back the redeeming investors.

That’s what gave the product its Ponzi characteristic.

The total amount invested in WMPs is now in the trillions of dollars used to finance thousands of projects sponsored by hundreds of major developers. Chinese investors are all-in with WMPs.

Now the entire edifice is collapsing as I predicted it would.

The largest property developer in China, Evergrande, is quickly headed for bankruptcy. That’s a multibillion-dollar fiasco on its own. Evergrande losses will arise in WMPs, corporate debt, unpaid contractor bills, equity markets and unfinished housing projects.

China’s entire property and financial system is on the verge of a world-historic crack-up. And it won’t remain limited to China.

It comes back to contagion.

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Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change, by Tyler Durden

There’s a lot of money to made on climate change. From Tyler Durden at zerohedge.com:

We now live in a world, where bizarro headlines such as the ones below, have become a daily if not hourly occurrence:

  • *TREASURY TO STUDY IMPACT OF CLIMATE ON HOUSEHOLDS, COMMUNITIES
  • *TREASURY LAUNCHES EFFORT ON CLIMATE-RELATED FINANCIAL RISKS
  • *BRAINARD: CLIMATE-SCENARIO ANALYSIS WILL HELP IDENTIFY RISKS
  • *BRAINARD: CLIMATE CHANGE COULD HAVE PROFOUND ECONOMIC EFFECTS
  • *MESTER: FED LOOKS AT CLIMATE CHANGE FROM VIEW OF RISKS TO BANKS
  • *FED IS TAKING THE RIGHT COURSE ON MONITORING CLIMATE CHANGE
  • *FED SHOULD CONSIDER CLIMATE-CHANGE RISK TO FINANCIAL SYSTEM

Now, in case someone is still confused, none of these institutions, and not a single of the erudite officials running them, give a rat’s ass about the climate, about climate change risks, or about the fate of future generations of Americans (and certainly not about the rising water level sweeping away their massive waterfront mansions): if they did, total US debt and underfunded liabilities wouldn’t be just shy of $160 trillion.

So what is going on, and why is it that virtually every topic these days has to do with climate change, “net zero”, green energy and ESG?

The reason – as one would correctly suspect – is money. Some $150 trillion of it.

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Wall Street’s Takeover of Nature Advances with Launch of New Asset Class, by Whitney Webb

There is nothing Wall Street can’t monetize, and that includes nature. From Whitney Webb at unlimitedhangout.com:

A project of the multilateral development banking system, the Rockefeller Foundation and the New York Stock Exchange recently created a new asset class that will put, not just the natural world, but the processes underpinning all life, up for sale under the guise of promoting “sustainability.

Last month, the New York Stock Exchange (NYSE) announced it had developed a new asset class and accompanying listing vehicle meant “to preserve and restore the natural assets that ultimately underpin the ability for there to be life on Earth.” Called a natural asset company, or NAC, the vehicle will allow for the formation of specialized corporations “that hold the rights to the ecosystem services produced on a given chunk of land, services like carbon sequestration or clean water.” These NACs will then maintain, manage and grow the natural assets they commodify, with the end of goal of maximizing the aspects of that natural asset that are deemed by the company to be profitable.

Though described as acting like “any other entity” on the NYSE, it is alleged that NACs “will use the funds to help preserve a rain forest or undertake other conservation efforts, like changing a farm’s conventional agricultural production practices.” Yet, as explained towards the end of this article, even the creators of NACs admit that the ultimate goal is to extract near-infinite profits from the natural processes they seek to quantify and then monetize.

NYSE COO Michael Blaugrund alluded to this when he said the following regarding the launch of NACs: “Our hope is that owning a natural asset company is going to be a way that an increasingly broad range of investors have the ability to invest in something that’s intrinsically valuable, but, up to this point, was really excluded from the financial markets.”

Framed with the lofty talk of “sustainability” and “conservation”, media reports on the move in outlets like Fortune couldn’t avoid noting that NACs open the doors to “a new form of sustainable investment” which “has enthralled the likes of BlackRock CEO Larry Fink over the past several years even though there remain big, unanswered questions about it.” Fink, one of the world’s most powerful financial oligarchs, is and has long been a corporate raider, not an environmentalist, and his excitement about NACs should give even its most enthusiastic proponents pause if this endeavor was really about advancing conservation, as is being claimed.

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