GREEN NEW DEAL = BLIZZARD OF LIES

[Jay McKinsey + 1,489]

6 hours ago, Ecocharger said:

If that were true, Jay, there would not be any need for a general monetary restriction to tame inflation.

The Fed has employed a standard monetary restriction to restrain demand pressures in the economy as a whole, not just in certain markets. The policy itself tells us everything we need to know.

Has Powell indicated an easing of monetary policy? No. The reason being that inflation is still regarded as a problem and the monetary restriction needs to continue to deal with that.

That is a clear monetarist approach to inflation.

There is no evidence that a monetary restriction of the magnitude we have was needed this time. In fact the higher rates made it more difficult to solve supply chain issues. Inflation does not just occur from monetary policy. The Fed needs to cut the prime rate in half.

Here is another Fed report:

"The current debate on whether the Federal Reserve can engineer a soft landing needs to disentangle the drivers of U.S. inflation. Our work shows that inflation in the U.S. would have been 6 percent instead of 9 percent at the end of 2021 without supply bottlenecks." https://libertystreeteconomics.newyorkfed.org/2022/08/how-much-did-supply-constraints-boost-u-s-inflation/

Here is another  Fed report that finds monetary policy was only 22% of the inflation spike:

Summarizing what we found: of the 2:7% ináation overshoot from March 2021 through November 2021, the largest contributor is shocks to the motor vehicle sector, at 31%. According to the model, monetary policy shocks explain 22% of the inflation overshoot. https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/working_papers/2022/wp22-07.pdf

I have presented three different Fed reports that find supply shortages to be a huge part of the inflation spike. They concluded 40%, 60% and 78% were due to supply shortages you economic failure.

You need to accept the basic economics of a decrease in supply causes an increase in prices. Just like it is taught in Econ 1. It does not seem you took or passed Econ 1

You also continue to ignore the fact that 0% and negative interest rates did not work to create any inflation in the 2010s. That is a pure failure of your monetary theory. It has to work both ways.

.

Edited December 6, 2023 by Jay McKinsey

[TailingsPond + 542]

3 hours ago, Ecocharger said:

Rob, even the head of COP28 admits that there is no science to support the view of climate mitigation through CO2 reduction, that is a chimerical dream.

Fossil fuels continue to supply about 84% of world energy needs.

In your fantasy.  Here is recap from him.

https://www.cop28.com/en/news/2023/12/COP28-President-recaps-key-wins-from-first-four-days-of-COP28

"Allow me to use this opportunity to bring everyone up to speed on what has been achieved thus far, and in particular in the past three and a half days of COP28. And before I begin, let's remember why we're all here.

We're all here because we made a very clear call to action, and we've been very upfront about it. And we said clearly and repeatedly that the UAE takes this task with humility, responsibility, and we fully understand the urgency behind this matter. And we're here because we very much believe and respect the science.

43% of global emissions must be reduced by 2030. That is 22 gigatons by 2030 and we need to make that happen to keep 1.5 within reach. And I have been crystal clear on the fact that that is a critical success factor if we want to keep 1.5 within reach. Let me say from the outset that everything this presidency has been working on, and continues to work on, is focused on and centered around the science."

[TailingsPond + 542]

https://www.youtube.com/watch?v=Qz_X3pQiSn4

[Rob Plant + 2,682]

That $100/b oil forecast by the end of the year is looking decidedly dodgy Eco! How much are you set to lose on that?

Thats despite further OPEC+ cuts in production too!

[Rob Plant + 2,682]

17 hours ago, Ecocharger said:

Rob, even the head of COP28 admits that there is no science to support the view of climate mitigation through CO2 reduction, that is a chimerical dream.

Fossil fuels continue to supply about 84% of world energy needs.

Oh does he, well thats not what he has said! I think you read the guardian too much who fabricated that story!

Al Jaber Says Fossil Fuel Phase Out is 'Inevitable' | OilPrice.com

“We fully understand the urgency behind the matter, we very much believe and respect the science,” he said while speaking to reporters on Monday, during the fourth day of the summit in Dubai.

Enjoy the truth ECO

Why do so many on here just rely on 1 newspaper story without fact checking anything?

Mark Lawson is perhaps the very worst for this.

[Ecocharger + 1,392]

15 hours ago, Jay McKinsey said:

There is no evidence that a monetary restriction of the magnitude we have was needed this time. In fact the higher rates made it more difficult to solve supply chain issues. Inflation does not just occur from monetary policy. The Fed needs to cut the prime rate in half.

Here is another Fed report:

"The current debate on whether the Federal Reserve can engineer a soft landing needs to disentangle the drivers of U.S. inflation. Our work shows that inflation in the U.S. would have been 6 percent instead of 9 percent at the end of 2021 without supply bottlenecks." https://libertystreeteconomics.newyorkfed.org/2022/08/how-much-did-supply-constraints-boost-u-s-inflation/

Here is another  Fed report that finds monetary policy was only 22% of the inflation spike:

Summarizing what we found: of the 2:7% ináation overshoot from March 2021 through November 2021, the largest contributor is shocks to the motor vehicle sector, at 31%. According to the model, monetary policy shocks explain 22% of the inflation overshoot. https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/working_papers/2022/wp22-07.pdf

I have presented three different Fed reports that find supply shortages to be a huge part of the inflation spike. They concluded 40%, 60% and 78% were due to supply shortages you economic failure.

You need to accept the basic economics of a decrease in supply causes an increase in prices. Just like it is taught in Econ 1. It does not seem you took or passed Econ 1

You also continue to ignore the fact that 0% and negative interest rates did not work to create any inflation in the 2010s. That is a pure failure of your monetary theory. It has to work both ways.

.

Jay, the Fed is using a monetarist approach to dealing with inflation, those reports you quote are not worth hogwash. Powell is dealing with this inflation problem as a good monetarist, regardless of those "reports".

If supply constraints were binding in the auto sector, you would not see EVs piling up on sales lots. No supply constraints there.

Powell is not buying your approach.

Edited December 6, 2023 by Ecocharger

[Ecocharger + 1,392]

1 hour ago, Rob Plant said:

That $100/b oil forecast by the end of the year is looking decidedly dodgy Eco! How much are you set to lose on that?

Thats despite further OPEC+ cuts in production too!

We will see what happens to demand in the economy. It looks like sliding into recession now, so that means EVs are going to continue to pile up on lots.

However, fossil fuel vehicle sales are doing well.

Enjoy, Rob.

[Ecocharger + 1,392]

1 hour ago, Rob Plant said:

Oh does he, well thats not what he has said! I think you read the guardian too much who fabricated that story!

Al Jaber Says Fossil Fuel Phase Out is 'Inevitable' | OilPrice.com

“We fully understand the urgency behind the matter, we very much believe and respect the science,” he said while speaking to reporters on Monday, during the fourth day of the summit in Dubai.

Enjoy the truth ECO

Why do so many on here just rely on 1 newspaper story without fact checking anything?

Mark Lawson is perhaps the very worst for this.

No, he was right the first time. Too late for damage control. 

Here is what he said recently, read carefully,Rob.

https://www.climatechangenews.com/2023/12/04/cop28-bulletin-al-jaber-goes-off-script-denies-science/

"In a live event with former UN special envoy Mary Robinson in November, Al Jaber momentarily forgot his PR-approved lines and reverted to industry talking points.

“There is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what’s going to achieve 1.5C,” he said.

He dismissed Robinson’s call for a phase-out as “alarmist” and said it would “take the world back into caves”."

 

[Rob Plant + 2,682]

Yes and he's retracted that statement and replaced it with this

“We fully understand the urgency behind the matter, we very much believe and respect the science,” he said while speaking to reporters on Monday, during the fourth day of the summit in Dubai.

There is NO ambiguity here!

[Jay McKinsey + 1,489]

3 hours ago, Ecocharger said:

We will see what happens to demand in the economy. It looks like sliding into recession now, so that means EVs are going to continue to pile up on lots.

However, fossil fuel vehicle sales are doing well.

Enjoy, Rob.

Any recession will be caused by the ridiculous interest rate.

Fossil fuel sales in the US are mediocre.

U.S. vehicle sales fell modestly in November

• U.S. vehicle sales fell 0.8% month-on-month (m/m) to 15.3 million (annualized) units in November – coming in below consensus expectations for 15.5 million units.

Ford's November US vehicle sales slip, EV sales rise

Dec 4 (Reuters) - Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production.

However, sales of Ford's electric vehicles such as its F-150 Lightning pickup truck and Mustang Mach-E, jumped 43.2% to 8,958 units from a year earlier.

Edited December 6, 2023 by Jay McKinsey

[Jay McKinsey + 1,489]

3 hours ago, Ecocharger said:

Jay, the Fed is using a monetarist approach to dealing with inflation, those reports you quote are not worth hogwash. Powell is dealing with this inflation problem as a good monetarist, regardless of those "reports".

If supply constraints were binding in the auto sector, you would not see EVs piling up on sales lots. No supply constraints there.

Powell is not buying your approach.

Those reports represent cutting edge economics. The Fed has set the rate too high because of their simpleton and antiquated monetarist ideology. Most of the inflation was due to supply shortages. Those shortages did not end until a year ago. There is an inflation lag from that point. Inflation is coming down right on schedule:

Edited December 6, 2023 by Jay McKinsey

[notsonice + 1,151]

3 hours ago, Ecocharger said:

We will see what happens to demand in the economy. It looks like sliding into recession now, so that means EVs are going to continue to pile up on lots.

However, fossil fuel vehicle sales are doing well.

Enjoy, Rob.

looks like sliding into recession now??????

jobs report out of ADP today  says otherwise and all other reports do not point at a recession in the next 6 months minimum

You keep living your gloomy life fearing the future, that is is based on your fear of EVs and renewables, as a good Luddite should

[Ecocharger + 1,392]

5 hours ago, Rob Plant said:

Yes and he's retracted that statement and replaced it with this

“We fully understand the urgency behind the matter, we very much believe and respect the science,” he said while speaking to reporters on Monday, during the fourth day of the summit in Dubai.

There is NO ambiguity here!

Too late for damage control, the spontaneous statements were the real thing.

[Ecocharger + 1,392]

3 hours ago, Jay McKinsey said:

Any recession will be caused by the ridiculous interest rate.

Fossil fuel sales in the US are mediocre.

U.S. vehicle sales fell modestly in November

• U.S. vehicle sales fell 0.8% month-on-month (m/m) to 15.3 million (annualized) units in November – coming in below consensus expectations for 15.5 million units.

Ford's November US vehicle sales slip, EV sales rise

Dec 4 (Reuters) - Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production.

However, sales of Ford's electric vehicles such as its F-150 Lightning pickup truck and Mustang Mach-E, jumped 43.2% to 8,958 units from a year earlier.

The EVs are now piling up sales lots. Fossil fuel cars have low inventories, they are standing up better to the recession.

The Fed is using high interest rates to tame inflation.

Enjoy, Jay.

[Ecocharger + 1,392]

3 hours ago, Jay McKinsey said:

Those reports represent cutting edge economics. The Fed has set the rate too high because of their simpleton and antiquated monetarist ideology. Most of the inflation was due to supply shortages. Those shortages did not end until a year ago. There is an inflation lag from that point. Inflation is coming down right on schedule:

Inflation is coming down in response to high interest rates. That is how the Fed works.

[Jay McKinsey + 1,489]

 

32 minutes ago, Ecocharger said:

The EVs are now piling up sales lots. Fossil fuel cars have low inventories, they are standing up better to the recession.

The Fed is using high interest rates to tame inflation.

Enjoy, Jay.

If you were an economist you would know that there is no recession and that the only problem is the Fed's mistaken monetary reaction to supply shock inflation. Just more of your fibs.

The numbers show a decrease in fossil fuel car sales and an increase in EV sales. 

Ford U.S. EV Sales Hit New Record In November 2023

The Ford F-150 Lightning sales exceeded 4,000 in a single month for the very first time.

n November, the total sales of Ford and Lincoln vehicles in the United States amounted to 145,559 (down 0.5% year-over-year), while the year-to-date result remains positive at over 1.8 million (up 7% year-over-year).

 

Meanwhile, sales of Ford battery-electric vehicles (BEV) increased quite noticeably—by 43% year-over-year to a new all-time record of 8,958 units. This also translated into a record-high 6.4% BEV share out of Ford's total volume

Edited December 6, 2023 by Jay McKinsey

[Ecocharger + 1,392]

H. L. Mencken got it right.

 "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary."

[Ecocharger + 1,392]

2 hours ago, Jay McKinsey said:

 

If you were an economist you would know that there is no recession and that the only problem is the Fed's mistaken monetary reaction to supply shock inflation. Just more of your fibs.

The numbers show a decrease in fossil fuel car sales and an increase in EV sales. 

Ford U.S. EV Sales Hit New Record In November 2023

The Ford F-150 Lightning sales exceeded 4,000 in a single month for the very first time.

n November, the total sales of Ford and Lincoln vehicles in the United States amounted to 145,559 (down 0.5% year-over-year), while the year-to-date result remains positive at over 1.8 million (up 7% year-over-year).

 

Meanwhile, sales of Ford battery-electric vehicles (BEV) increased quite noticeably—by 43% year-over-year to a new all-time record of 8,958 units. This also translated into a record-high 6.4% BEV share out of Ford's total volume

EVs are now piling up on sales lots, Jay.

Weep some more.

[Jay McKinsey + 1,489]

13 minutes ago, Ecocharger said:

EVs are now piling up on sales lots, Jay.

Weep some more.

Only in your imagination. More of your claims without proof. 

Of course you will claim that you provided proof but that was 6 months ago, it is no longer relevant.

What we do know is that Ford total sales were down but their EV sales just set a big new record high.

Edited December 6, 2023 by Jay McKinsey

[Jay McKinsey + 1,489]

15 minutes ago, Ecocharger said:

H. L. Mencken got it right.

 "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary."

Exactly what Trump and MAGA are doing, Thanks for pointing this out.

Edited December 6, 2023 by Jay McKinsey

[Ecocharger + 1,392]

3 minutes ago, Jay McKinsey said:

Only in your imagination. More of your claims without proof. 

Of course you will claim that you provided proof but that was 6 months ago, it is no longer relevant.

Jay, see the above discussions.

[Ecocharger + 1,392]

8 minutes ago, Jay McKinsey said:

Exactly what Trump and MAGA are doing, Thanks for pointing this out.

That's right, give us more counterfactuals, Jay. 

Mindless panic is the only trick which the Green Goblins have in their bag.

Edited December 6, 2023 by Ecocharger

[Jay McKinsey + 1,489]

Just now, Ecocharger said:

Jay, see the above discussions.

The above discussions point out that total Ford sales are down but their EV sales just set a new record high.

[Jay McKinsey + 1,489]

1 minute ago, Ecocharger said:

That's right, give us more counterfactuals, Jay. 

You mean like the absolute facts that we are not in recession and inflation is dropping as predicted by the supply side inflation model.

[Ecocharger + 1,392]

6 minutes ago, Jay McKinsey said:

The above discussions point out that total Ford sales are down but their EV sales just set a new record high.

The above discussions show the piling up of EVs on sales lots.....that means reduced production to follow.

Fossil fuel vehicles have low inventories.

Edited December 6, 2023 by Ecocharger