Category Archives: Business

Prepare to Be Bled Dry by a Decade of Stagflation, by Charles Hugh Smith

We can hardly wait. From Charles Hugh Smith at oftwominds.com:

Our reliance on the endless expansion of credit, leverage and credit-asset bubbles will have its own high cost.

The Great Moderation of low inflation and soaring assets has ended. Welcome to the death by a thousand cuts of stagflation. It was all so easy in the good old days of the past 25 years: just keep pushing interest rates lower to reduce the cost of borrowing and juice credit expansion ((financialization) and offshore industrial production to low-cost nations with few environmental standards and beggar-thy-neighbor currency policies (globalization).

Both financialization and globalization are deflationary forces, as they reduce costs. They are also deflationary to the wages of bottom 90%, as wages are pushed down by cheap global labor and stripmined by financialization, which channels the vast majority of the economy’s gains into the top tier of the workforce and those who own the assets bubbling up in financialization’s inevitable offspring, credit-asset bubbles.

To keep the party going, central banks and governments pushed both forces into global dominance: hyper-financialization and hyper-globalization. Policy extremes were pushed to new extremes: “temporary” zero-rate interest policy (ZIRP) stretched on for 6 years as every effort was made to lower the cost of credit to bring demand forward and inflate yet another credit-asset bubble, as the “wealth effect” of the top 5% gaining trillions of dollars in unearned wealth as asset bubbles inflated pushed consumption higher.

Corporate profits soared as credit became essentially free and super-abundant and globalization lowered costs and institutionalized planned obsolescence, the engineered replacement of goods and software that forces consumers to replace their broken / outdated products every few years.

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Wind power makers suffer huge losses, want to abandon major project, by Thomas Lifson

Absent subsidies, wind power often makes no economic sense. From Thomas Lifson at americanthinker.com:

The greenies’ dream of “clean” (except for millions of dead birds) energy from wind farms is dying in the face of the poor economics (even with tax subsidies) and unreliable technology. The big players in constructing wind turbines are facing massive losses and write-downs and cancelling big offshore wind projects.  Brace yourself for demands for even more subsides to the failing industry.

The green energy subsidiary of German electrical equipment giant Siemens just reported Thursday that it lost nearly a billion dollars in the last quarter. Via Fox News (Hat tip: Beege Welborn, Hot Air):

Global green energy company Siemens Gamesa reported Thursday that it had lost a staggering $967 million during the three-month period from between October to December.

The Germany-based company, which dubs itself as “the global leader in offshore power generation,” noted the wind industry has faced various unfavorable pressures leading to negative growth in recent months and years, in its earnings report for the first quarter of fiscal year 2023 released Thursday morning. The company added that governments would need to further assist the industry to ensure future positive growth.

“The negative development in our service business underscores that we have much work ahead of us to stabilize our business and return to profitability,” Siemens Gamesa CEO Jochen Eickholt said in a statement.

“The beginning of fiscal year 2023 saw a further increase in global wind demand prospects for the next ten years, but further governmental action is needed to close the gap between ambitious targets and actual installations,” the company added in its release.

The translation of “further government action” is increased subsidies, beyond those already offered in the misnamed “Inflation Reduction Act,” which mostly subsidizes green energy. Think Solyndra-like loan guarantees beyond those already available.

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How the US gov’t built a shadow structure that enabled COVID vax ‘bioterrorism’, by Patrick Delaney

There isn’t an infectious disease exception in the U.S. Constitution, so the government simply ignored that document. From Patrick Delaney at lifesitenews.com:

‘Congress and U.S. Presidents legalized and funded the overthrow of the U.S. Constitution… through a massive domestic bioterrorism program relabeled as a public health program… on behalf of the World Health Organization and its financial backers,’ writes legal researcher Katherine Watt.

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Editor’s Note: This article is the fourth of a series on the role of the U.S. government in orchestrating a bioterrorism attack upon their own citizens utilizing “biowarfare agents” marketed as “COVID-19 vaccines.” The prior three articles can be accessed here, here, and here.

(LifeSiteNews) — With exceptional detail and comprehensiveness, a paralegal researcher and journalist from Pennsylvania has documented the extensive “pseudo-legal” structures put in place over decades which allowed the U.S. Department of Defense (DoD) to execute its “COVID-19 vaccine” bioterrorism attack upon its own citizens, killing and maiming many thousands with complete impunity.

Katherine Watt identifies herself as “a Roman Catholic, American, Gen-X writer, paralegal, printmaker, wife and mother.” Prior to becoming a paralegal, Watt earned a philosophy degree from Penn State University, worked as a reporter for small newspapers, and then eventually founded Bailiwick News in 2016.

Former pharmaceutical executive and researcher Sasha Latypova, who has been a source of several important bombshell reports over the last year, has more recently relied on Watt’s documentation and strongly encouraged “everyone to subscribe to her and read her work. It’s an encyclopedia of law references, meticulously researched going back years describing how the [pseudo-legal] structure [for the government’s bioterrorism program] was put in place and what it entails.”

“I’m saying ‘pseudo-legal’ because you cannot legalize a crime,” Latypova explained in a December video lecture. “They made it on paper legal… [but] none of this is lawful because they are committing a crime.”

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Unvaccinated Are the Only Oppressed Minority: Time for Reparations and Affirmative Action, by Dr. Joseph Sansone

During the height of the Covid crisis government and business could do damn near anything they wanted to the unvaccinated. We want restitution. From Dr. Joseph Sansone at josephsansone.substack.com:

There is only one oppressed minority in the United States. They are comprised of every demographic group. According to published reports the unvaccinated make up 17% of the U.S. population. We have been told that 83% of Americans have had at least one C19 injection. If these numbers are accurate, it does not bode well for national health. Now that children are being targeted with these bioweapon injections the unvaccinated will decline in numbers.

The unvaccinated are an oppressed minority that has faced discrimination at a level not seen for nearly 100 years. In some ways never seen before. The unvaccinated have been demonized in ways similar to Jews in 1930s Germany. The propaganda against the unvaccinated has also been similar to the demonization of Americans of Japanese descent during World War II. They have even proposed internment camps for the unvaccinated.

In just the past couple years, across the United States to varying degrees, the unvaccinated have been subjected to segregation. They have been denied access to restaurants, universities, and employment. They have been fired because of their genetic status. In many cases the unvaccinated have been denied healthcare. Even life saving medications and organ transplants have been denied to unvaccinated humans.

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(Sales) Taxation is Theft, by Ron Paul

If the tax system is to be reconfigured, it should be reconfigured in a way that dramatically reduces the government’s take. From Ron Paul at ronpaulinstitute.org:

A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax. The bill also eliminates the Internal Revenue Service, giving states the responsibility to collect the sales tax and send the revenue to DC.

This deputizing of states to act as federal tax collectors violates the principles of federalism, especially since the plan forces states that have chosen not to make their residents pay sales taxes create a mechanism for collecting sales tax.

A 30 percent sales tax on all goods with no exceptions and no deductions will increase taxes imposed on millions of Americans. The sales tax legislation provides a way Americans can receive a monthly “prebate” payment to help offset the cost of the sales tax. Still, many taxpayers would be paying more under the new national sales tax system.

If the sales tax becomes law, Congress may never have to increase the rate above 30 percent. This is because it can rely on the Federal Reserve to increase the sales taxes via inflation. Consequently, this inflation tax will increase the pain inflicted by the sales tax on the American people.

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A Weighty Question, by Eric Peters

Electric car batteries are heavy, which makes them more dangerous in a collision. From Eric Peters at ericpetersautos.com:

Here’s an interesting – a weighty – question:

If “safety” is so important to the government – i.e., to the busybodies in Washington who force us to buy what they think is important – then why don’t they think it’s important to protect us from the consequences of what they’re forcing us to buy?

Such as two-ton-plus electric cars that are a physical threat to other cars – and the people inside them?

A subcompact-sized electric car like the Chevy Bolt – which is only 163.2 inches long – weighs 3,589 pounds. A compact-sized car like the Hyundai Accent – which is 172.6 inches long and so a substantially larger car – weighs 2,679 pounds.

The difference between the two is 910 pounds.

It’s a big difference when a 3,589 pound car pile-drives into a 2,679 pound car. F=ma and all that.

It’s an even bigger difference when an electric half-ton truck like the Ford Lightning – which weighs in at more than three tons – 6,500 pounds – which is  a ton (2,000 pounds) heavier than a non-electric F-150 pick-up – pile-drives into a 2,679 pound compact like the Accent.

Or even another F-150.

Heck, even another Lightning. See that business about F=ma again.

Whatever happened to saaaaaaaaaaaaaaaaaaaaaaaafety first?

The more weight rolling around out there, the greater the risk to people who aren’t driving one of these massively heavy potential pile-drivers. Perhaps this is intentional; another way to get rid of cars that aren’t electric – and perhaps some of the people who don’t want them along the way. But the risk is also greater, for everyone.

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Information Is Broken, by Paul Rosenberg

Once upon a time, information purveyors had an economic incentive to make sure the information they purveyed was correct. From Paul Rosenberg at freemansperspective.com:

Humanity is informed as never before; nothing in the historical record compares. This, unfortunately, is not a particularly good thing.

The provision of information, if it is to bless mankind, must have quality control built into it… it must have a feedback mechanism with teeth. Barring that, it can spiral out of control, as, indeed, it has.

Consider that almost everyone in the modern world is flooded with information. Even the poorest people walk around with phones beeping at them a dozen times per day, delivering little packets of it. And for active people the info-delivery is far greater. Even the delivery devices themselves, smart phones, have become status symbols.

But who is providing all that information, and what price do they pay for delivering bad information?

The previous era of information delivery was dominated by newspapers; they provided most of the information for daily living. And that system, problematic though it could be, had effective feedback mechanisms. Newspaper readers paid for the information they received. And so, if they made bad decisions because of bad information, the newspaper would have a problem on their hands.

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The Long-Term Negative Effects Of ESG Will Be Catastrophic, by Tom Czitron

ESG has evolved into fascism—a government-business partnership. From Tom Czitron at The Epoch Times via zerohedge.com:

Environmental, social, and governance (ESG) has been a hotly debated topic over the last few years. The seemingly unquestioned march towards corporate utopia has met with resistance among those who oppose the idea that government oligarchs should dictate the affairs of private business firms. The long-term effects of the ESG movement are largely ignored by the mainstream.

ESG is largely justified on the basis that corporations and financial institutions should be socially responsible. They should work obsessively to address the perceived menaces of climate change, racism, sexism, and a host of subjects. Our benevolent political and economic elite define what is virtuous and what is not for a grateful public.

Corporations are compelled to enact policies that will reduce carbon dioxide in the atmosphere, eliminate perceived negative economic outcomes against aggrieved groups, and be “sustainable,” as well as other virtuous goals. It matters little to the “select group of human beings,” as John Kerry called them, who are tasked with “saving the planet” that many of their solutions to these existential challenges are far more harmful than their worst-case scenarios.

The Friedman Doctrine, named after the eminent Chicago School economist, states that the sole responsibility of businesses is to maximize long-term shareholder value. I was exposed to this view in 1980 when I attended the University of Toronto’s Master of Business Administration program. I was surprised by the moral certainty and simplicity implied by the statement.

I remember our professor being challenged by my class on two fronts. One was the issue of charitable donations. That argument was quickly dispatched when it was pointed out that corporate CEO’s had no moral right to give away shareholders’ money. It was not theirs to give. If the benevolent CEO wanted to make charitable donations out of his own pocket he was free to do so. Shareholders had this same ability.

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Fake Meat Fail: Sales Collapse At Beyond Meat, Impossible Foods As 20% Of Staff Laid Off, by Tyler Durden

Notwithstanding massive hype, they can’t get enough people to serve as lab rats for lab meat. From Tyler Durden at zerohedge.com:

The fake meat industry appears to be in a death-spiral as sales at plant-based ‘meat’ companies Impossible Foods and Beyond Meat have imploded.

As Axios reports, “after years of hype, the tide is turning against the first generation of plant-based protein makers.”

Last year, both companies were riding high – with prime placement on supermarket shelves, and Burger King even adding an Impossible Whopper to its menu.

Impossible Meat even began to branch out – looking to expand offerings to highly processed meats such as chicken nuggets and sausages.

Sales have collapsed, however, which according to a recent Bloomberg report, has resulted in Impossible Foods planning to lay off around 20% of its workers.

Impossible Foods Inc., the maker of meatless burgers and sausages, is preparing to cut about 20% of its staff, according to a person familiar with the matter.

The Redwood City, California-based company currently employs about 700 workers. The new round of dismissals could reduce that amount by more than 100. 

Impossible Foods also offered voluntary separation payments and benefits to employees at the end of 2022, said the person, who asked not to be named discussing private information. An internal document viewed by Bloomberg confirmed the separation packages being offered. The company previously reduced headcount in October, cutting about 6% of its workforce at the time. -Bloomberg

Beyond Meat’s sales fell over 22% in the third quarter of 2022, as the company is preparing to similarly cut 20% of its workers. The company has also lost several executives.

According to the report, supermarket sales fell by 15% y/y as of Jan. 1, according to market-research firm IRI, while orders in restaurants dropped 9% in the12 months ended in November, according to NPD Group.

Meanwhile, data from consumer-experience strategy firm HundredX suggests waning interest in general – as the percentage of shoppers polled who have eaten Impossible products and say they won’t do it again has risen.

Beyond Meat stock is also down around 67% vs. one year ago.

https://www.zerohedge.com/commodities/fake-meat-fail-sales-collapse-beyond-meat-impossible-foods-20-staff-fired

Why Is the Associated Press Lying About Gene Therapy Shots? By Dr. Joseph Mercola

By the standard definition the mRNA shots are definitely gene therapy. Make sure you get your shots if you want mutant offspring. From Dr. Joseph Mercola at theburningplatform.com:

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Story at-a-glance

  • The notion that the COVID shots are a form of gene therapy is so risky for Big Pharma’s bottom line, they’re going to great lengths to make sure people don’t think of them that way
  • The Associated Press published a “fact check” in which they argued that COVID shots are not gene therapy because they do not alter your genes
  • The AP misled readers by focusing on just one part of the FDA’s definition of a gene therapy — the part about modifying expression of a gene. But the full definition also includes the words “or to alter the biological properties of living cells,” which is precisely what the COVID shots do
  • When the mRNA shots were rolled out in 2021, they did not meet the U.S. Centers for Disease Control and Prevention’s definition of a vaccine. They only met the FDA’s definition of a gene therapy
  • The only reason COVID shots meet the CDC’s definition of a vaccine now is because they changed the definition to prevent “COVID-19 deniers” from saying that “COVID-19 vaccines are not vaccines per CDC’s own definition”

While the COVID-19 shots are referred to as “vaccines,” they do not meet the classical definition of a vaccine. Health authorities actually had to change the definition to accommodate the COVID shots and shut down the argument that, as experimental gene therapies, they may be riskier than traditional vaccines.

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