Regulation

Media worth consuming – a recap of December 2020

My good mate Jonathan Rochford of Narrow Road Capital has compiled a brilliant summary of the recent madness in markets, politics and economics. One could be forgiven for thinking it is a lot like satire. Link here.

Fukushima offshore wind farms to be dismantled

From The Japan Times:

The government said Thursday it will remove the two remaining wind power turbines it installed off Fukushima Prefecture citing lack of profit in the project, which cost ¥60 billion ($580 million).

The project was widely seen as a symbol of the reconstruction of the northeastern prefecture following the 2011 earthquake, tsunami and nuclear disasters.

The decision came despite Japan’s goal of raising its offshore wind power generation to up to 45 gigawatts in 2040 from a mere 20,000 kilowatts at present as part of efforts to fight climate change. Prime Minister Yoshihide Suga has pledged to achieve carbon neutrality by 2050.

At a meeting in Fukushima, industry ministry officials briefed fishermen and other participants about the plan, with local people saying the government had wasted taxpayers’ money and should conduct a thorough study of why the project had failed.

In June, the government removed one of the three turbines installed 20 kilometers off the town of Naraha. It has decided to remove the remaining two in the fiscal year starting April.

The three turbines were constructed in stages from 2012 to support the local economy by creating a new industry based on renewable energy.

To commercialize wind power generation, the operational rate of a turbine must remain at 30% to 35% or more, according to the ministry.

But the rates of the turbines off Fukushima had been around 4% to 36%, according to trading house Marubeni Corp., which participated in the project.”

Germany also gave us a wonderful case study on how its renewables based energy system has backfired spectacularly. 

In 2007, Germany forecasted that 2020 residential electricity prices would be approximately 16 Eurocents with the shift to renewables away from nuclear. Today they trade at c.31 Eurocents. Der Spiegel, a normally left-leaning journal wrote in a two-part series. 

Part 1 – Germany Failure on the Road to a Renewable Future

“But the sweeping idea has become bogged down in the details of German reality. The so-called Energiewende, the shift away from nuclear in favour of renewables, the greatest political project undertaken here since Germany’s reunification, is facing failure. In the eight years since Fukushima, none of Germany’s leaders in Berlin have fully thrown themselves into the project, not least the chancellor. Lawmakers have introduced laws, decrees and guidelines, but there is nobody to coordinate the Energiewende, much less speed it up. And all of them are terrified of resistance from the voters, whenever a wind turbine needs to be erected or a new high-voltage transmission line needs to be laid out.”

Germany’s Federal Court of Auditors is even more forthright about the failures. The shift to renewables, the federal auditors say, has cost at least 160 billion euros in the last five years. Meanwhile, the expenditures “are in extreme disproportion to the results, Federal Court of Auditors President Kay Scheller said last fall, although his assessment went largely unheard in the political arena. Scheller is even concerned that voters could soon lose all faith in the government because of this massive failure.

But never let that get in the way of feeling good about saving the planet.

Portland Mayor & Oregon House Rep’s response on having it all under control

Dan Bongino spoke of just how embarrassing Democrat Mayor Ted Wheeler’s response has been in his attempts to stop crime in Portland, Oregon. It was followed up by an even more pathetic explanation by Oregon House Rep Earl Blumenauer.

Are these people for real to think they have it ‘all under control’?

Most Americans support Fed law enforcement in cities

While mostly Democrat mayors cry foul, Rasmussen Reports latest poll notes:

Most voters approve of President Trump’s decision to use federal agents to fight the growing violent crime in some major cities. They also believe many of these cities bring the criminal problems onto themselves.

The latest Rasmussen Reports national telephone and online survey finds that 55% of Likely U.S. Voters think federal law enforcement officials should be used to fight the growing level of violent crime in several major cities since the cities appear unable or unwilling to handle the problem themselves. Thirty-six percent (36%) oppose this federal anti-crime help.”

Still that hasn’t stopped Soros-backed Democrat Philadelphia District Attorney Larry Krasner to say. “Anyone, including federal law enforcement, who unlawfully assaults and kidnaps people will face criminal charges from my office.

We would bet that local law enforcement would welcome support from the Feds especially given the earmarked defunding headed the Philly PD’s way.

Check out the lack of Hate Crime in NYC

Check out the latest hate crime statistics in NYC, a city of 8.3 million. See for yourself just how little systemic racism exists…here are the Jan-Jun 2020 totals vs the same period in 2019 according to the NYPD.

Anti-Asian 3 -> 2 (-33%)

Anti-Black 20 -> 16 (-20%)

Anti-Gender 7 -> 5 (-29%)

Anti-Hispanic 3 -> 0 (-100%)

Anti-Muslim 9 -> 2 (-78%)

Anti-Corona 0 -> 20

Anti-Semitic 123 -> 57 (-54%)

Anti- Sexual Orientation 24 -> 8 (-67%)

Anti-White 12 -> 4 (-67%)

Hardly what one would call something that is rife.

So a Jew is 3.5x more likely to be a victim as a black person and almost 30x someone of Islamic faith.

To put that in perspective based on population cohorts, blacks make up 24% of NYC and Jews around 13%, meaning Jews are likely to be c.7x more likely to be the target of hate crimes as blacks.

If we were to annualize the 2020 data for hate crimes against population cohorts, a black person has a 99.9992% chance not to encounter it. A Jew has a 99.995% chance of avoiding a hate crime. The Asian community has a 99.9998% likelihood of not running into racism.

That doesn’t seem to be the story depicted by the mainstream media or by Mayor de Blasio painting it on city streets to troll the president using tax payer funds.

When NYC residents took the law into their own hands in 1979

We’ve written quite a bit lately on the utterly hopeless NYC Mayor Bill de Blasio and his weakness in tackling crime.

We’ve written in the past about vigilantism in NYC several years ago and we see that inevitably, NY citizens will start to take the law into their own hands. They will have little choice.

The truth is the Guardian Angels have already returned, since deBlasio took office in 2014.

If we go back to the 1970s, when crime was surging, NYC’s population fell from 7,894,862 to 7,071,639 over the next decade.

What caused this? In the 1970s, NYC faced problems with the budget and by 1975 was teetering on bankruptcy. This led to shedding of public service jobs including the fire department and the NYPD. The fall in foot patrols in NYC saw crime soar. Homicide rates climbed as follows:

1960: 6.19 per 100,000 residents

1970: 14.14

1980: 25.60

1990: 30.66

2000: 8.44

2010: 6.53

2019: 3.75

2020: 4.26 (6 month run rate)

At this stage homicide in NYC is well off long term rates despite the sharp % increases seen since the death of George Floyd). One wonders whether the history of the 1980s will return as de Blasio cuts funding to the NYPD when the number of cops on the beat fell substantially. Will residents start moving to other parts of the country and hollow out the tax base?

We found this document interesting, especially the following statement:

While the NYPD has made approximately 40,000 fewer overall arrests so far this year compared with last year, gun arrests year-to-date as of July 5 are 1,679 vs. 1,683. We have also seen the impacts of legislative mandates sending offenders no longer eligible for bail back to the streets where they are being regularly rearrested and contributing to overall crime in the city.

Who knew? Now that NYPD cops are quitting in record numbers and new recruits aren’t being hired to replace them, what could possibly go wrong?

Expect to see more stories about the Guardian Angels in NYC as residents fill the hole that the virtue signaling segregationist mayor has opened.

To think how the mayor was so willing to use the NYPD as a Gestapo to fine residents for disobeying stay-at-home orders. Recall deBlasio even encouraged NYers to dob in their neighbors.

You’ll never guess who the BLM fundraising arm has as its vice-chair…

As the kneeling for Black Lives Matter continues at sporting events across the globe, why not let one of the BLM founders, Alicia Garza, enrich our understanding of the Marxist group some more.  Garza has repeatedly talked about how convicted cop killer and wanted domestic terrorist Joanne Chesimard, aka Assata Shakur, is one of her main inspirations. Shakur assassinated a New Jersey state trooper and now lives in exile in Cuba. She was also involved in bombings and several executions of cops in New Jersey, New York and San Francisco.

It gets worse.

Susan Rosenberg, the vice-chair for the left-wing Thousand Currents group, which handles the administration of the donations made to Black Lives Matter, is a convicted terrorist who was sentenced to 58 years for weapons and explosives charges while a member of the May 19th Communist Organization. She spent 16 years in prison before President Bill Clinton commuted her sentence on his last day. Among other things, Rosenberg was suspected of helping Shakur escape from prison in 1979.

Why does the mainstream media keep portraying the BLM organization as a clean, wholesome and noble organization with good intentions when it has such reprehensible beliefs and practices utter hypocrisy when it comes to ALL black lives?

Senate Democrats refuse to condemn mob violence

True colours. This isn’t even a bill. Republican Senator Mike Lee lambasted Senate Democrats for not condemning mob violence in a proposal for a non-binding resolution. The reason was that they refused was because the Democrats wanted President Trump specifically noted despite the fact that the resolution spoke of “all elected officials.

As Senator Lee said, “People are being shot! Businesses are being looted. Innocent Americans are being attacked and threatened. Lives are being ruined. Communities are burning!…the woke ideology depends on federal money…the mob hates America on America’s dime…it’s time to cut off their allowance…the American people would be very interested to know who stands for them.”

For as horrible many on the left think President Trump is, if these are the standards of the opposition party, do Americans see them as a platform for any voter to aspire to?

Aspirational society as viewed through the rose-tinted goggles of Antifa

This is a video of conservative news network OAN reporter Jack Posobiec, who went to Lincoln Park in DC to film an elderly black tour guide trying to protect the Emancipation Memorial statue and educate the assembled Antifa and BLM protestors on its history, including the fact that it was paid for by freed slaves before they sought to tear it down. Both men were shut down and assaulted. The protestors then bullied the guide for “protecting a white supremacist.

The 25-yo white male in a black helmet and pink-tinted goggles – identified as Jason Robert Charter – proceeded to take joy in harassing Posobiec for minutes as he was ejected from the area, no doubt feeling emboldened by safety in numbers. One imagines how this weakling would have acted if the tables were turned. Posobiec was as compliant as he could be after being assaulted, presumably expecting to be set upon. Apart from the vile abuse thrown at him, Charter issued the threat of the mob taking photos of the journalist’s licence plate, presumably to finish off what was started.

No matter how “alt-right” these terrorists wish to think OAN or Prosobiec to be, they had no interest in learning about history, no willingness to accept an alternative point of view other than their own without screaming “Nazi.” If only these lunatics took a look in the mirror and realised the true fascists they condemn were staring right back at them.

In closing, Charter’s rose-tinted goggles make for a perfect irony in allowing us to view the world he believes we aspire to. Not in a million years.

However, the less law-abiding citizens push back against this type of bullying and cancel culture which is finding its way into more corporate boardrooms, the more emboldened these uneducated thugs become. Not on our watch.