Play the video above or click here to watch my most recent interview with Howe Street on “This Week in Money.”
The EPA is demanding that we abandon coal and fossil fuels without an alternative. The agency is seeking to shut down American power plants in favor of renewables. Energy prices are already reaching new highs. The National Energy Assistance Directors Association (NEADA) and the Center for Energy Poverty and Climate (CEPC) issued a warning that Americans should expect at least an 8% increase in energy bills this summer.
No, global warming is not the culprit. The hot summer is in line with cyclical weather patterns. America lost its ability to remain energy independent the very day Joe Biden entered the White House and signed away countless laws prohibiting production. The average AC bill was $661 over the summer months, according to CEPC and NEADA. These agencies believe those in the Mid-Atlantic and Pacific regions of the US will see a rise in energy prices by 12.2%, raising costs from June to September to $691 and $693. Those in the East South Central are expected to see a 10.1% hike over the same period and will pay around $774. East Noth Central is expected to see a 9.8% energy bill uptick ($581), while New England and West South Central will see rises of 5.3% ($760) and 1.8% ($581).
Naturally, these costs are on the low spectrum of estimates. Most of us pay far more to cool our homes over the summer. One must wonder why the EPA and Biden Administration believe it is appropriate to adhere to these climate change goals for Agenda 2030 when the average American is already struggling to afford cooling.
We are already paying for the slow switch from natural gas and coal to renewables. Energy companies have been forced to gradually make the switch, and soon, there will be no alternative. Once they completely banish fossil fuels, cooling one’s home will become a luxury. Anyone can look at their monthly billing to see how much their heating and cooling expenses have risen on a monthly and annual basis and it is far beyond 8%. Personally, I am seeing a rise of around 30%.
This is one of an array of basic living essentials that have multiplied in price in recent years under the Biden Administration. We allowed our leader to cripple our infrastructure and ability to remain energy independent. We are currently allowing him to sign even more restrictive pieces of legislation that will only force us to stretch our dollars thin to maintain our current lifestyles. Is anything Build Back Better yet?
The Environmental Protection Agency’s (EPA) has introduced “Clean Power Plan 2.0” to eliminate new construction on natural gas-fired power plants and force coal-powered plants to close. This is part of the Biden-Harris plan to adhere to future net zero target emissions to combat the fabricated lie of climate change at the expense of the American people. This measure could completely decimate America’s coal industry and spike energy costs at a time when the average person has nothing left to spend.
These agencies have usurped all power away from Congress and have abandoned democracy. No one specifically voted for these measures. But we have an agency, under Biden, who can change the way the nation’s entire infrastructure is powered with the passing of a pen.
Senator Joe Manchin (I-WV), Chairman of the U.S. Senate Energy and Natural Resources Committee, has been fighting with a group of 44 senators to overturn this measure. “This new power plant rule isn’t just another bureaucratic maneuver in this administration’s strategy to end the fossil fuel industry by a thousand cuts, it’s a calculated knockout punch to the coal and natural gas industry. Make no mistake, other sources of energy are not yet ready to pick up the slack in our power system that will be created by this regulation,” Manchin explained, calling this maneuver an attempt to garner votes before the election. Simply put – the technology to power the nation on clean energy is not yet available. We cannot abandon fossil fuels without facing extreme repercussions.
Those who support the measure claim Manchin is simply from coal country West Virginia and has investments in the coal industry. They do not realize that the infrastructure to power the US on clean energy is absent and these measures will NOT help the people. It will only lead to increased costs on the basic essentials and cause the cost of living to spike.
There are over 200 coal power plants across the US that power around 20% of the nation. Coal accounted for over half of electricity in the US in the 2000s and, while more financially friendly, has been gradually phasing out. However, most of these plants were replaced by natural gas plants but that is still not enough for the climate change zealots at the EPA. Around 40% of the nation is powered by natural gas and plays a crucial role in America’s electricity generation. The EPA is now attempting to curtail 60% of America’s current power in the name of the globalist climate change agenda.
As of 2022, wind-powered electricity accounted for 10% of America’s electricity and 48% of all renewables. Hydropower comes in second, accounting for 6.2% of the nation’s energy as of 2022, while solar provides about 3.4% of America’s energy. There have been numerous issues connecting wind power to the overall grid, not to mention the environmental issues it causes to wildlife. Weather has a major impact on these structures as well as they are prone to freeze during extreme weather events. Even the experts have admitted that they could not use wind to power even half of America at this point in time without new technology.
COMMENT: Marty, I attended your Toronto Institutional session when the Bank of Canada had a table of 10 people. People would ask you what the central banks were looking at, and you would respond. Everyone then turned to see if they flinched. They were the best of times, as they say.
For us long-timers, it was no surprise that the Bank of Canada was the first to cut rates in turn with the ECM. I know you do not like to court the mainstream press, but one of these days, somebody has to have the guts to stand up and say that there is a business cycle.
Your legacy has made a difference. I share your goal to purge our governments of political manipulation that causes more harm to the people and the economy than anything else.
It was refreshing to see the Bank of Canada act with the ECM. You even put on the blog that June would be the opportunity for the central banks to cut rates. Well done, as always.
KW
REPLY: Yes, they were simpler days. It’s nice to see you are still active. Most of the major central banks know the Economic Confidence Model. It was good to see that the Bank of Canada acted in advance for the first time until waiting for the crash. It would be better if they could purge the fiscal side of these insane pretend experts like Janet Yellen and the Neocons. Then there will be a future worth leaving our grandchildren.
We now have universities inquiring about buying quantities of the books I have been publishing. It is great news that they are starting to introduce students to reality. I am working hard to finish the major book on the Economic Confidence Model, the New Yorker Magazine, called The Secret Cycle.
We would like to thank our invaluable AE community for gathering together in London for the Economic Confidence Model seminar. I heard some say that the annual event has become akin to a reunion of friends. It is indeed a distinct congregation of concurring intellects seeking truth.
If you missed the seminar, there is still an opportunity to purchase a virtual ticket. This option will provide you with a complete video of the event, as well as the slides displayed during the presentation and special reports.
Click here or on the button above to learn more.
Stay tuned for the next AE event. We will make an announcement on this blog once preparations are underway.
The earth’s climate is anything but regular, with every year a repeat of the last. The White Earth Effect is the realization of what would happen if the earth was entirely covered in snow and ice. The bottom line is that the Earth would then reflect the sunlight rather than absorb it, and hence, the planet would never again move back to a warm climate – global freezing. The critical understanding of the cyclical nature of our environment has been hampered by people trying to further personal agendas distorting real trends in our climate. The nonsense about global warming has done far more damage than most people realize to our understanding cycle for it is the same crisis we have with Marxist-Keynesianism – the assumption that man can control his surroundings and society.
Global Warming has propagated false ideas about the world we live in. It has claimed that man is even capable of altering the climate, covering up the fact that it is a dynamic cyclical system that we are not bothering to understand. This is as bad as assuming the Earth is flat, for back then, the disbelievers argued that it would be absurd, for nobody could stand on a ball upside down.
It would be nice just for once if people stopped grabbing bits of information and attributing that as proof of what is really a political movement for a hidden agenda. The Earth is no more in a Global Warming trend caused by man than Elvis is still alive and on stage in Vegas.
The White Earth Effect describes a theory that for millions of years the Earth was almost entirely smothered in ice, stretching from the poles to the tropics. This freezing happened over 650 million years ago in the pre-Cambrian period, though it’s now thought that there may have been more than one of these global glaciations. They varied in duration and extent, but during a full-on snowball event covering the entire planet, life could only cling on in ice-free refuges or where sunlight managed to penetrate through the ice to allow photosynthesis. As long as there were some spots that could absorb sunlight, then the cycle would be capable of a reversal back to a warming climate.
The climate has always been a dynamic system that oscillates between extreme cold and extreme heat. Perhaps you recall the term Ice Age? Even the Sun is a thermodynamic system that oscillates in a cycle of about 300 years between maximum and minimum energy output with a fluctuation range of about 15%. Climatologists have universally agreed that the long-term behavior of our planet’s oceans and atmosphere could at any point in time shift without reason (beyond a chaotic shift) from one that is very inhabitable to an icy tomb of doom from which there is no return.
The Father of Chaos Theory is Edward Norton Lorenz (1917–2008), an American mathematician and meteorologist. Lorenz was certainly THE pioneer in Chaos Theory. A professor at MIT, Lorenz was the first to recognize what is now called chaotic behavior in the mathematical modeling of weather systems.
During the 1950s, Lorenz observed that there was a cyclical, non-linear nature to weather, yet the field relied upon linear statistical models in meteorology to do weather forecasting. It was like trying to measure the circumference of a circle with a straight-edge ruler. His work on the topic culminated in the publication of his 1963 paper Deterministic Non-periodic Flow in the Journal of the Atmospheric Sciences and with it, the foundation of chaos theory. During the early 1960s, Lorenz had access to early computers. He was running what he thought would be random numbers and began to observe there was a duality of a hidden repetitive nature. He graphed the numbers that were derived from his study of convection rolls in the atmosphere. What emerged has been perhaps one of the most important discoveries in modern time.
This illustration of the Lorenz Strange Attractor is incredibly important and was first reported in 1963. Lorenz’s discovery of a strange attractor was made during an effort to create a model of weather patterns. The actual experiment was an attempt to model the atmospheric dynamics of the planet. It involved a truncated model of the Navier-Stokes equations. It is a visual example of a non-linear dynamic system corresponding to the long-term behavior in a cyclical manner, revealing a hidden order we cannot otherwise observe.
Lorenz also discovered in 1969 that very minor differences in a dynamic nonlinear system could trigger vast and often unsuspected drastic results. These observations ultimately led him to formulate what became known as the term Butterfly Effectin 1969 regarding this fascinating discovery. Very tiny changes in what might appear to be minor data at the outset had a ripple effect throughout the entire system, creating substantially different outcomes. This term grew out of an academic paper he presented in 1972 entitled: “Predictability: Does the Flap of a Butterfly’s Wings in Brazil Set off a Tornado in Texas?”
From a dynamic system perspective, such a possibility that the earth could go to one extreme, such as the White Earth Effect, and fail to recover is not really just a matter of chance that could emerge out of nowhere. It was Lorenz who stated that it would take some “huge kick” of energy to upset the balance of our climate to such a degree. Lorenz called this system “almost-intransitivity.”
The White Earth Effect is what would happen if the climate moved cyclically to the extreme on the cold side. The Earth has, for millions of years, almost been entirely covered in ice, stretching from the poles to the tropics. The failure to cover every spot was our saving grace. If there was no such ice-free zone, the cycle would stop as the ice would reflect the sunlight, the planet would stay cold, and life would be extinguished – the White Earth Effect.
Economics is well known for rather unrealistic theories based upon fundamentally unsound principles, such as the assumption that all things remain equal. Reality parts with academics whenever such assumptions are drawn to a foregone conclusion. However, greater false assumptions, which go unnoticed, lie at the foundation of so many theories in economics – primarily the assumption of linearity.
In our thinking process, we all are trapped by the Aristotelian sequence of logic – if X takes place, then Y must follow. Unfortunately, we think linearly and, as such, most theories seek to embellish this very basic assumption. The financial world honestly wants to believe in simplistic notions. Raising interest rates and demand will subside along with inflation is one false linear assumption. Man prefers to believe in linear relationships and systems because anything beyond two variables becomes far too complex for rational thought processes.
Man’s natural tendency toward linear thinking has indeed created many heated battles. The arguments between supply and demand-side economics is one such example. Given the assumption of a linear economy, demand-side economists argue that the economy can be controlled through the manipulation of government spending and interest rates. In effect, demand-side economics seeks to use the consumer (demand) as a club to beat capital over the head. Yet these same demand-side economists claim that supply-side economics benefits the rich at the expense of the poor. Strangely enough, throwing the consumer out of work and causing higher unemployment to affect lower demand is the core of demand-side economics. It is hard to see how the demand side benefits the poor at the expense of the rich. The supply-side economist argues that there should be less government intervention in demand. Instead, the government should stimulate the economy by encouraging greater output through supply stimulation.
Both sides have identified two extremes within a non-linear system, even though their arguments, based upon a linear assumption, assume that the other is totally wrong. If we look at just the last 10 years of economic activity, we can clearly see changes within the infrastructure that provide a period when each form of economic management would indeed be appropriate.
Looking at the period 1976–1980, it would be difficult to label this period as anything other than an inflationary spiral led by demand. Raising interest rates would be appropriate under such conditions when demand flourishes wildly beyond its normal capacity. Hoarding and speculation were in full bloom. Therefore, one should employ “demand-side” economics when demand is, in fact, out of control.
Nevertheless, in the post-1986 era and particularly since the ’87 crash, speculation is hardly the issue. We do not find excessive demand leading to the hoarding of commodities, as was the case leading into 1980. Yet, governments around the world are still employing demand-side economics to curb inflation, which is being caused by real shortages in labor and commodities. Clearly, in this case at least, supply-side economics makes much more sense. If interest rates continue to rise, the world economy will be threatened by a sharp and severe recession. However, the shortages on the supply side in energy, agricultural, and base metals will not be corrected by raising interest rates. Higher interest rates will not cause the weather to return to normal. Higher interest rates will certainly not encourage miners to open new mines. Higher interest rates will also not cause a reversal in trend within the energy sector where exploration has been cut by more than 50% in the last two years.
Supply-side economics is as valid as demand-side economics. Everything within the system has a time and place because the system itself is non-linear. The chart provided illustrates our Theory of Non-Linear Intervention. This theory is very simple and based upon actual observation.
The standard economic assumption under demand-side economics is that raising interest rates will lower demand and inflation. Continually raising interest rates does not prevent inflation. At some point in the system, confidence breaks down, and higher costs in interest rates only add to the costs of production and doing business. Eventually, this spurs inflation instead of reducing it. They attempted to go to negative interest rates, trying to stimulate inflation by punishing people if they failed to spend their money. This attempt failed because they overlooked the simple fact that people will hoard when worried about the future.
The evidence of this is all the hoards of ancient Roman and Greek coins that reveal in times of uncertainty, people simply buried their money for a rainy day. The very basic assumption that the system is linear is obviously incorrect. The business cycle exists throughout all times and portrays the system as non-linear. If any effect is taken to extremes, the exact opposite effect emerges. This is the result of non-linear intervention. Each economy possesses a different infrastructure. Consequently, the threshold where interest rates will cease being anti-inflationary and transform itself into the catalyst of inflation resides at different levels in each economic system. Differences in the value of labor, taxation, political systems, and market mechanisms must be taken into account.
In conclusion, government intervention, which seeks to manage the economy in an efficient manner, always fails because they are conflicted with self-interest. They are the biggest debtor within society. Attempts to only manage the economy by demand-side economics ignore the free market entirely. Intervention cannot possibly work when government remains in the dark about how the economy even functions. They fail to comprehend the direction and cause of inflation or deflation. The first step is recognizing that there is a business cycle, the second is to accept that a cycle exists, and third, we merely try to prepare for the downturns exactly as David advised the Pharaoh – seven years of plenty v seven years of drought.
Click here to read my latest interview with Piero Messina for SouthFront.
Preview:
“I named my computer model after Socrates because the oracle of Delphi had said that he was the smartest man in Greece. He tried to prove the oracle wrong and the process proved it to be correct. He was put on trial and sentenced to death because he knew too much. My computer has taught me a lot in geopolitics, we had a major bank in Lebanon in the 1980’s and they asked if I could create a model on the Lebanese pound. I put the data in the computer and it came out and said their country would fall apart in 8 days. I thought something was wrong with the data. When I told the client, they asked me what currency would be best, and I said the Swiss Franc. Eight days later the civil war begn. Obviously they saw the movement of money themselves and came to me for the timing. The same thing happened with a client in Saudi Arabia who was a big shipper. He called me asking me what gold would do tomorrow because Iran was going to begin attacking shipping in the gulf. So once again, there was advanced information about war. By 1998, I understood how the computer was forcasting such events. I warned in June at our London conference that Russia was about to collapse. The London financial Times had snuck into the back of the room and reported that forecast on the front of their newspaper on June 27th 1998. Russia collapsed about 6 weeks later.”
Like to thank everyone for attending the London ECM Conference. We apologize that we were only able to accommodate a small audience. The venues in London are much smaller than what we can do in Orlando, It was so nice to be back in London after so many years.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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