Thought for the day

"I contend that for a nation to try and tax itself into prosperity, is like a man standing in a bucket and trying to lift himself up by the handle." -- Winston Churchill (1874 - 1965)

donate

In response to the announced production cut of two million barrels of oil daily by OPEC+ nations on Wednesday to stabilize prices and maintain them above production costs, a White House statement roared disapproval, saying:

The move will “have the most negative impact on lower-and middle-income countries” — ones hegemon USA and its Western vassals exploit by plundering their resources and immiserating their people.

In response, dominant Biden regime hardliners in cahoots with their congressional co-conspirators will retaliate in their customary heavy-handed ways.

In March, the US banned all imports of Russian oil and gas as part of America’s sanctions against Moscow over its special military operation in Ukraine. As for Iran’s oil industry, it has for years been operating under US sanctions over what Tehran says is a purely peaceful nuclear program.

Louisiana State Treasurer John Schroder announced on Wednesday that the Pelican State will withdraw $794 million in treasury funds from BlackRock over its ESG green energy activism.

Schroder announced that $560 million had already been removed from BlackRock and $794 million will be removed from the world’s largest asset manager by the end of 2022.

General Electric is laying off 20% of its U.S. onshore wind workforce, which equates to hundreds of jobs, according to a person familiar with the matter who declined to be named.

A note was sent out to employees Wednesday.

France will turn off the hot water in the restrooms of public buildings and order municipalities to reduce water temperatures at public swimming pools by 1 degree Celsius as part of broader plans to reduce energy consumption, the energy ministry said.

President Emmanuel Macron's government is due to announce sector-by-sector energy saving measures on Thursday designed to avoid power outages or shortfalls in gas supplies during the winter.

Americans battered by soaring inflation since President Biden took office have effectively suffered the steepest pay cut in a quarter century, according to data released by the Federal Reserve.

The Federal Reserve Bank of Dallas published new findings which calculated “real wages” — the amount of money Americans take home when adjusted for inflation.

“We find that a majority of employed workers’ real (inflation-adjusted) wages have failed to keep up with inflation in the past year,” the bank said.

Tags

US imports from Russia reached $522.1 million in August, 7.7% more than the July total of $484.8 million, marking the first monthly increase since April, according to a report released on Wednesday by the US Census Bureau.

The growth comes despite US President Joe Biden’s pledge to deal a “crushing blow” to Moscow through restrictions on commodity trade.

According to analysts, Washington continues to benefit from the anti-Russia sanctions. While pressuring the EU to give up supplies from Russia, the US continues to buy hundreds of unsanctioned types of goods.