De-Flation..

 

 CEO of electric vehicle maker Tesla  (TSLA)  has been repeating for the past few days his fears about what awaits the economy as the Federal Reserve prepares to raise interest rates again in the hope of countering the inflation at its highest in 40 years.

The central bank is holding a two-day monetary meeting on Sept. 20-21. At the end of this meeting, economists, expect the institution to raise its rates by at least 75 basis points, or 0.75% in view of the latest figures which show that the rise in the price of goods and services is far from calming down

The tech tycoon believes that a jumbo rate hike of 0.75% by the Fed is likely to trigger the equally worrisome scenario of deflation.

"A major Fed rate hike risks deflation," the billionaire warned on Sept. 9.

EV..

 

Electric vehicles have often been hailed as the future. Major motoring companies are aiming to produce nothing but electric vehicles in the future, and some aspire to hit that target by the end of the decade. 

Cars that are traditionally seen as so-called gas guzzlers like pickup trucks, muscle cars, and hummers all have electric equivalents. Governments, including the one running the United States, are improving infrastructure, offering tax incentives, and enacting policies aimed at getting more electric vehicles on the road. 

Electric cars require more energy to produce than conventional cars because of the lithium-ion batteries, but even after taking battery manufacture into account, electric vehicles are still a greener option than petrol or diesel cars, because of the reduction in emissions over the lifetime of the car. So it is a matter of Size, Cost and Time.

Gifts..

 

The Democrats talking ..We are Sanctuary Cities and States, we welcome the migrants. 

Gifts to all... The Migrants are coming... The Migrants are coming.

Fools..

 

Europe can thank the Democrats and the Biden administration for their war against crushing the US energy industry that led to massive divestments across the sector, which crippled oil production growth and refining capacity, and pressured/shamed the world into withdrawing any capital allocations to fossil fuels.

Ben Dell, chief executive of private equity group Kimmeridge Energy, said the shale industry’s investors on Wall Street would not give their blessing to a big production increase, preferring a low-production, high-profit model.

Rig counts in the US have started to fall and production has flatlined well below pre-pandemic levels. (Market flactuation)

On top of the Democrat-led crippling of the US energy industry, EU leaders have been on an ESG-crazed mission to decarbonize their power grids with renewable (now finding out -- not so reliable) energy and are frantically bringing back crude oil, coal, and natural gas power generators ahead of the cold season. Some EU countries are even extending the life of nuclear power plants.

You reap what you sow in higher gas prices, and inflation.  Just a thought.

Spending..

 

This White House's various foolish decisions, such as Spending, Sanctions on Russia which drove the gas prices so high, attitude, talks, and action against US oil companies, didn't help USA, Europe, nor the people of both worlds. 

The foolishness continues though and so is inflation.  Just a thought.

Par-Tee..

 

Creckets..

 

Flat Footed..

 “Joe Biden was supposed to be the expert at dealing with all of these issues. What is it that he’s done right? What has he done that’s come off really well?”

Few months into his administration, the fate of Biden’s social-spending and climate package is more uncertain than ever. The pandemic he promised to bring to heel rages out of control. 

Inflation is at a four-decade high, canceling out rising wages. The border is a mess. Violent crime continues to climb. His approval rating has sunk to the low 40s. 

In the eyes of many Americans, “it’s just been one disappointment after another,” says Iowa-based nonpartisan pollster J. Ann Selzer.

 One year in, there’s a growing sense that the Biden presidency has lost its way. An Administration that pledged to restore competence and normalcy seems overmatched and reactive. Biden has been caught flat-footed by not one but two COVID-19 variants. 

He has repeatedly failed to close the deal with the Senate he boasted of mastering. The former chair of the foreign relations committee has presided over escalating tensions with Russia and China as well as a chaotic pullout from Afghanistan. 

The consequences to America’s credibility abroad could be lasting, says Ryan Crocker, former U.S. ambassador in Kabul. “What could be more damaging to internationalism in this country than an internationalist who is perceived as having just completely screwed the pooch?”

Riddled..

 

A Brooklyn-based federal judge was selected to serve as an independent arbiter to review the materials seized in the FBI's search of former President Donald Trump's Florida home.

 Judge Raymond Dearie also served a seven-year term, concluding in 2019, on the US Foreign Intelligence Surveillance Court.

 In his role as a FISA judge, Dearie was one of the judges who approved one of the Justice Department's request to surveil former Trump campaign foreign policy adviser Carter Page as part of the federal inquiry into Russia 2016 election interference.

The department's process for securing FISA warrants for Page was riddled with errors and sloppiness, a DOJ inspector general review later found. The IG's review pointed to omissions and mistakes in the FBI's court filings supporting the FISA applications, including in filings submitted to Dearie.

It came back in full circle. is this another attempt by the Democratic Party, timed at the election?

Capping..

US, UK and European governments freezing Russia energy prices risks blanketing the Continent in power blackouts, a Wall Street investment bank has warned today. 

“The more reductions [in energy consumption] we see, especially in summer… the less likely Europe is to face blackouts or lack of heating in the winter,” Goldman added.

The UK and European energy market has been grappling with a shortage of gas after Russia squeezed flows in response to western sanctions. Weaker than usual supply has propelled gas prices to record highs, triggering cost of living and Inflation crises in Britain and across the Continent.

Businesses will need to respond to swelling energy costs by curbing economic activity to ensure the UK and European government do not impose energy rationing measures, Goldman said.