Suicide Among The Most Common Causes Of Death In The US
Homicide as well as suicide are common causes of death for young age groups in the United States, second only to accidents for those between the ages of 15 and 34.
After that age, cancer, heart disease and more recently Covid-19 become bigger killers.
For those 10 to 14 years old, both homicide and suicide are among the top 4 killers.
According to a study published this week in scientific journal Jama Pediatrics, homicide rates in children have been rising in recent years, increasing by as much as 50 percent for Black children and those between the ages of 16 and 17 just between 2018 and 2020.
Of approximately 46,000 suicides recorded by the CDC in the U.S. in 2020, between 6,000 and 8,000 deaths occurred per ten-year age cohort above the age of 15.
Despite being a relatively large killer of children who are 10 to 14 years old, only around 600 suicides occurred in this age group in 2020. The situation is similar for homicides, where around 200-300 death in the age groups 5-9 and 10-14 constitute rank 4 of the most common causes of death. Between 6,000 and 7,000 homicide deaths occurred for those 15 to 24 years old and those 25 to 34 years old in 2020.
For older age groups, the number decreases gradually.
The Biden administration has dialed up its crackdown on so-called “ghost guns” by issuing guidance that basically expands the definition of what “readily converted” means in a new federal rule and making more do-it-yourself pistol parts subject to restrictions.
In an open letter to firearms dealers (pdf) dated Dec. 27, the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) told firearm vendors that nearly-complete handgun frames or receivers—basically the pistol grip and firing mechanism—will be treated the same as fully completed firearms.
Ghost Gun Rule
Firearm vendors who sell near-complete pistol frames and receivers—often as kits that can be relatively easily turned into untraceable homemade guns—were hit with the new rule in August, which required that frames and receivers that could be “readily converted” into fully operational guns are subject to the same regulations as traditional firearms.
The August regulation, dubbed the Ghost Gun Rule, meant that kits containing partially complete frames or receivers plus assembly tools and instructions were subject to licensing, background check, and serialization requirements.
But ambiguity around the definition of the word “readily” in the regulation meant that some vendors continued to sell nearly-complete unserialized frames and receivers as standalone products while additional components needed to finalize their at-home manufacture were offered separately, or by third parties.
Such was the argument made in an October letter (pdf) by a dozen or so Democrat lawmakers to the ATF and Justice Department, which claimed that a number of ghost gun companies were continuing to sell unserialized frames and receivers by interpreting “readily” in a way that amounted to a loophole.
“The final rule, however, is clear and unambiguous: a nearly-complete frame or receiver is a firearm,” the lawmakers wrote.
“The rule does not cover only frames and receivers sold as part of a kit, but also frames and receivers that can be readily completed,” they continued, urging the ATF to issue enforcement guidance that basically expands the definition of what it means for pistol components to be considered as “readily converted” into a functional firearm.
They asked the ATF and the Justice Department to consider a nearly-completed frame or receiver as “readily convertible” not only when it’s sold as part of a kit containing things like jigs, molds, templates, and tools for assembly but also when such auxiliary equipment is available to the general public.
“In particular, we urge the Department and ATF to confirm that how ATF reviews the ‘readily convertible’ nature of a nearly-complete frame or receiver will not be limited to what tools, equipment, and instructions are included in the same sale or distribution of the part sold, but rather premised on the tools, equipment, and instructions that are readily available to the general public, including those easily obtainable online through third parties,” the lawmakers wrote.
ATF agreed and by issuing the new guidance, the agency is making clear that it will now be requiring relevant firearm frames to have serial numbers and to be sold by licensed dealers who carry out background checks just like with fully completed guns.
“Today’s open letter is another important step in implementing the crucial public safety rule regarding privately made firearms, or Ghost Guns,” ATF Director Steven Dettelbach said in a press release. “Ghost Guns can kill like other firearms if they are in the wrong hands, so they are treated as firearms under the law.”
According to explanatory remarks to the Ghost Gun Rule published in the Federal Register, from the beginning of 2016 to the end of 2021, there were around 45,000 homemade ghost guns recovered by law enforcement from potential crime scenes, including 692 homicides or attempted homicides.
Before Regulating ‘Ghost Guns,’ Enforce Existing Laws
Several current and former law enforcement members told The Epoch Times that the proliferation of ghost guns at crime scenes is a problem, but that being insufficiently tough on repeat offenders under current laws is a much bigger problem.
“If we are going to invest energy to fight crime, we should invest energy to get repeat offenders off the street,” Al Maresca, a deputy U.S. marshal in the District of Maryland, told The Epoch Times in an earlier interview.
“Felon in possession of a gun is already illegal, a straw purchase is already illegal—there are all these other laws on the books that we can be focusing our efforts on,” he added.
Roberto Alaniz, a recently retired sergeant from the Los Angeles Police Department (LAPD), told The Epoch Times that focusing on ghost guns is unlikely to make a dent in violent crime.
Seattle Tech Worker Inspired By ‘Office Space’ Nets $300,000 In Alleged Software Scheme
A Seattle tech worker was charged this week in a criminal theft scheme which netted around $300,000 from his employer.
28-year-old Ermenildo Castro of Tacoma allegedly told detectives he was inspired by the 90’s movie “Office Space” when he allegedly wrote software code to manipulate shipping fees paid to his employer, Zulily.com, to go into his own bank accounts.
According to KOMO news, citing court documents, Castro netted around $260,000 in shipping fees.
What’s more, he used his position as a software engineer to alter the price of around $41,000 in merchandise for ‘pennies on the dollar.’
According to police, the company’s cybersecurity staff found a document on Castro’s laptop titled ‘OfficeSpace project’, which outlined Castro’s scheme to ‘cleanup evidence’ by manipulating audit logs and disabling alarm logging. The theft began in February and by March the company had identified discrepancies in the shipping fees being charged to customers, an SPD report states.
Castro was part of the team assigned to investigate the discrepancies in shipping fees, according to the report. –KOMO
Investigators for the company eventually caught on to Castro’s scheme and visited his house, where they found several boxes of merchandise piled up in the driveway and around the front door.
He claimed the orders, which included more than 1,000 items, were sent to his house in error.
“When asked why he never returned the items to Zulily, he said that once they fired him his opinion was, ‘f— ‘em’,” reads the police report.
Seattle police wrote a narrative on how Castro’s alleged scheme was like “Office Space.”
“In the Initech office, the insecure Peter Gibbons hates his job. His best friends are two software engineers Michael Bolton and Samir Nagheenanajar, that also hate Initech. When he discovers that Michael and Samir will be downsized, they decide to plant a virus in the banking system to embezzle fraction of cents on each financial operation into Peter’s account. However[,] Michael commits a mistake in the software on the decimal place and they siphon off over $300,000. The desperate trio tries to fix the problem, return the money and avoid going to prison.”
Apparently Castro thought he could avoid ‘pound me in the ass prison.’
If we are not free to think what we want, we do not have a free society. It really is that simple. Unfortunately, there is now an overwhelming consensus among elitists in the western world that radical measures must be instituted to control what people think. If you insist on being a rebel, there is a very good chance that you will be punished for holding unorthodox views. You won’t necessarily be put in prison, but our system has countless other ways that it can punish you. For example, those that insist on embracing unacceptable thoughts will find that their career choices are quite limited, and there are certain positions that they will be prohibited from ever holding under any circumstances. Not only that, but if your thoughts are offensive enough you may have a financial account suddenly shut down or credit denied for seemingly no reason. This sort of thing was unheard of a decade ago, but now it is happening all the time. Of course you can forget about having any sort of a substantial social media presence if your thoughts do not conform to current “societal norms”. Even the “free speech platforms” are banning and shadowbanning countless accounts every single day.
If any of the things that I have just described have happened to you, that is probably because you are a “thought criminal”.
You are not supposed to contradict the conditioning that you have received from our education system, from the news media, from our politicians and from the corporate entertainment that you are being fed for hours each day.
When you deviate from socially acceptable viewpoints, you are guilty of “thoughtcrime”. This is how “thoughtcrime” is defined by Wikipedia…
Thoughtcrime is a word coined by George Orwell in his 1949 dystopian novel Nineteen Eighty-Four. It describes a person’s politically unorthodox thoughts, such as beliefs and doubts that contradict the tenets of Ingsoc (English Socialism), the dominant ideology of Oceania. In the official language of Newspeak, the word crimethink describes the intellectual actions of a person who entertains and holds politically unacceptable thoughts; thus the government of the Party controls the speech, the actions, and the thoughts of the citizens of Oceania.
Sadly, we truly have become an “Orwellian society” at this point.
In fact, a woman in the UK was just arrested for thoughts that she was thinking within her own mind…
The U.K. March for Life director was recently arrested after police found her praying silently outside of an abortion clinic, according to a press release by Alliance Defending Freedom U.K.
Isabel Vaughan-Spruce, a charity volunteer and Christian, was approached by police officers outside of BPAS Robert Clinic in Birmingham, England, and asked if she was praying, according to ADF’s press release. Vaughan-Spruce told the officers she “might be praying silently” and was later arrested.
“It’s abhorrently wrong that I was searched, arrested, interrogated by police and charged simply for praying in the privacy of my own mind,” Vaughan-Spruce stated in the release. “Nobody should be criminalized for thinking and for praying, in a public space in the UK.”
Once she was taken in to the station, you would think that those in charge would realize that a huge mistake has just been made.
But instead of releasing her, she was ruthlessly interrogated.
Apparently they were absolutely determined to discover whatever evil thoughts that this vicious thought criminal had been thinking.
And apparently they found something, because now she has been charged on four counts…
Remember the British woman who was arrested for praying silently? She’s been charged.
But she doesn’t understand that the world has changed.
Anyone that thinks unauthorized thoughts in now a criminal in this system.
And at this moment there are countless intelligence agents all over the western world that are scouring social media sites for more thought criminals.
Thanks to the release of the Twitter Files, we now know that the FBI has spent an enormous amount of time, effort and energy looking for unauthorized thoughts on our largest social media platforms.
When the FBI found unauthorized thoughts on Twitter, requests were made to ban specific accounts. This represented a gross violation of our First Amendment rights, and apparently it kept happening over and over again.
“The correspondence between the FBI and Twitter show nothing more than examples of our tradition, longstanding and ongoing federal government and private sector engagements, which involve numerous companies over multiple sectors and industries.
As evidenced in the correspondence, the FBI provides critical information to the private sector in an effort to allow them to protect themselves and their customers.
The men and women of the FBI work every day to protect the American public.
It is unfortunate that conspiracy theorists and others are feeding the American public misinformation with the sole purpose of attempting to discredit the agency.”
And it has also come out that the FBI has been paying Twitter and other social media companies millions of dollars for some reason…
The Federal Bureau of Investigation is declining to specify what other social media companies the federal agency gave money to after Fox News confirmed that it paid Twitter nearly $3.5 million.
FBI officials told Fox News that the nearly $3.5 million payment to Twitter was a “reimbursement” for the “reasonable costs and expenses associated with their response to a legal process… For complying with legal requests, and a standard procedure.”
The FBI officials also said that Twitter isn’t the only social media company that is being paid by the federal agency, telling Fox News “We don’t just reimburse Twitter.”
What exactly was that money for?
We deserve to know.
New Twitter CEO Elon Musk recently stated that “almost every conspiracy theory that people had about Twitter turned out to be true.”
Reading that should chill you to the core.
Of course many other big tech companies have also been colluding with the government to suppress free speech, and one recent survey found that the vast majority of Americans want answers…
A recent poll shows that 63 percent of Americans want Congress to investigate “whether the FBI was involved in censoring information on social media sites.”
The Twitter Files disclosures show that not only did Twitter collude with the FBI, it also worked with other government agencies like the CIA and the Pentagon to suppress information.
Musk said in a post on Dec. 27 that “*Every* social media company is engaged in heavy censorship, with significant involvement of and, at times, explicit direction of the government.”
As time rolls along, those that choose not to conform to “societal norms” will be increasingly pushed to the utter fringes of society.
If you continue to choose to be an “independent thinker”, getting a “good job” will be exceedingly difficult.
Just think about it. Right now, how many of the CEOs of Fortune 500 companies are “independent thinkers” that have unacceptable belief systems?
If you want to rise in the pyramidal structure of our society, you have got to believe what the system tells you to believe.
Of course if all independent thought is eliminated, our society will become the sort of dystopian nightmare that authors such as George Orwell and myself have been warning about for a very long time.
Even though I do not like much of what my fellow Americans have to say, I vigorously defend the right to say those things.
Freedom of thought and freedom of speech are non-negotiable, and our system of government simply will not work without them.
* * *
It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.
Russia To Supply Iran With 24 Advanced Sukhoi Fighter Jets
Starting a week ago reports began emerging in Middle East regional media, including in both Iranian and Israeli news sources, that Russia will soon provide Islamic Republic with dozens of Sukhoi Su-35 fighter jets. Israeli reports are even citing “Western intelligence officials” in making the claim.
Iranian state Tasnimwrote days ago that “Iran will soon receive 24 of the fourth-generation twin-engine, super-maneuverable fighter jets that are primarily used for air superiority missions,” in what seems to be some level of confirmation.
The state-run outlet noted that Iran hasn’t been able to acquire any new aircraft from outside countries in years, and the last time jets were transferred from Russia was in the 1990’s.
The Times of Israel also recently reported the following, citing the country’s Channel 12 network:
The report by Channel 12 said the deal could include as many as 24 jets that were originally intended for Egypt, in a deal that the United States thwarted.
This left Moscow looking for a new potential buyer, which it has reportedly found in Tehran. The report comes after Iranian media said in September that Tehran was weighing such a purchase.
Intelligence indicated that Iranian pilots were already using the jets for training, the report said, without elaborating.
In all of these reports, the sourcing is anonymous and thus somewhat dubious, given also even Iranian state media is citing “reports say…”. However, the fact that state media is running headlines about acquiring the Sukhoi Su-35s is hugely significant nonetheless.
It could mean that Tehran and Moscow are at least in the early phases of negotiating such a transfer. This would indicate that their deepened military ties which has been on display throughout the Ukraine war, based largely on Iran controversially supplying its ‘Kamikaze’ drones which have been in use by the Russian army in Ukraine, is going the other way too as far as the defense supply chain.
On Thursday, Forbes asked the qestion: who will operate these sophisticated and advanced jets if they are acquired? Likely there would be a significant Russian-overseen training program…
The IRGC-AF has never operated more advanced aircraft than those vintage Soviet-era Su-22 Fitter or Su-25 Frogfoot attack planes — ex-Iraqi warplanes that fled from Operation Desert Storm to Iran in 1991, which Tehran promptly confiscated. The IRGC-AF returned the Su-25s to Iraq in mid-2014 to help Baghdad fend off the threat posed by the rampaging Islamic State (ISIS) group.
Forbes further reviews of Iran’s ageing air force planes: “Aside from procuring Chengdu F-7 fighters from China during the 1980s, post-1979 Iran only made one significant fighter procurement, in 1990 when it bought MiG-29 Fulcrum fighter jets and Su-24 Fencer bombers for the IRIAF from the Soviet Union.”
Thus any advanced fighter transfer could see the rare instance of Russian advisers training IRGC pilots. Meanwhile, the US and UK have continued to ratchet up sanctions on Iran’s defense manufacturing sector, especially in light of the drone supplies which appear to be ongoing in relation to the war in Ukraine.
With state legislatures entering their third sessions since the 2020 pandemic pumped trillions in federal recovery and stimulus assistance into state and local government coffers, tax reform across a range of levies is among front-burner priorities for lawmakers in 2023.
During 2022 sessions, Washington, D.C.-based Tax Foundation reports at least 38 states adopted “noteworthy tax changes” with most going into effect on Jan. 1, including trims in personal income tax rates in 11 states and flat income tax structures being implemented in three states, Arizona, Idaho, and Mississippi on New Year’s Day.
Here is a round-up of “noteworthy tax changes” that go into effect Jan. 1 provided by analysts at the Tax Foundation, Council On State Taxation, and Institute on Taxation and Economic Policy:
* ARIZONA: A flat personal income tax rate of 2.5 percent will replace Arizona’s tiered, or progressive, income tax structure that had a top rate of 4.5 percent.
* IDAHO: Under 2022’s House Bill 1, Idaho will move to a flat personal income tax rate of 5.8 percent, replacing a progressive tax structure with a top assessment rate of 6 percent, on Jan. 3.
* INDIANA: Under 2022’s HB 1002, Indiana’s flat personalincome tax rate will drop from 3.23 to 3.15 percent through 2024. Afterwards, the personal income tax rate will incrementally decline to 2.9 percent by 2029, depending on state revenues.
* IOWA: On Jan. 1, Iowa’s nine personal income tax rates will be consolidated into four, with the top declining from 8.53 to 6 percent. The state is set to implement a flat income tax rate of 3.9 percent in 2026.
Also beginning in 2023, Iowa will exempt retirement income, certain farm rental income, diapers, and menstrual products from taxation. The state will phase out its inheritance tax by 2025, with this levy also being incrementally slashed beginning in 2023.
On the other side of the ledger, Iowans will no longer be able to claim a state deduction on federal income and property taxes.
* KENTUCKY: Under 2022’s HB 8, Kentucky’s income taxes will go down, and some sales taxes will go up on Jan. 1.
The state’s flat personal income tax rate will dip from 5 to 4.5 percent in 2023 and to 4 percent in 2024. Depending on state revenues, state lawmakers plan to implement further incremental cuts until the personal income tax is eliminated.
The income tax cuts will be countered by new or increased sales taxes on a range of services, such as a 6 percent levy on limousine, car rental, ride-sharing, car-sharing, and taxicab services. A 1 percent transient room tax will now apply to campgrounds and RV parks.
Kentucky will also impose a new excise tax of 3 cents per kilowatt hour for electric vehicle power distributed in the state by an electric vehicle power dealer or by electric charging stations located on state property.
* MISSISSIPPI: Under 2022’s HB 531, Mississippi will adopt a flat personal income tax beginning Jan. 1. The state’s 4 percent levy on income between $5,000 and $10,000 will be eliminated and a 5 percent tax on income above $10,000 imposed.
Under the bill, the 5 percent flat rate will decrease to 4.7 percent in 2024, 4.4 percent in 2025, and 4percent in 2026.
* MISSOURI: Under 2022’s Senate Bill 3, Missouri’s top personal income tax rate will be reduced from 5.3 to 4.95 percent, and the amount of income exempt from income taxation will increase from $100 to $1,000. The measure calls for incremental reductions in the top income rate levy to 4.5 percent.
Also on Jan. 1, Missouri will become the last state to assess state and local sales taxes on remote or online transactions under a 2021 bill.
* NEBRASKA: Under 2021 and 2022 bills, Nebraska will reduce its top personal income tax rate from 6.84 to 6.64 percent, and in its top corporate tax rate from 7.5 to 7.25 percent. The state will lower its top corporate income tax rate to 5.84 percent by 2027.
Also beginning in 2023, beneficiaries can deduct 60 percent of Social Security benefits, up from 40 percent in 2022, and exemptions from taxation for retirement and military pension incomes will be increased.
Property owners will also get some breaks in 2023 under 2022’s Nebraska Property Tax Incentive Act, which sets aside $660.7 million for income tax credits that will offset portions of school district and community college property taxes.
* NEW HAMPSHIRE: Under 2022’s HB 2, New Hampshire will start phasing out its income tax on interest and dividends income, lowering the levy from 5 to 4 percent on Jan. 1. The rate will decline by 1 percent until the tax is no more by 2027.
Under 2022’s HB. 1221, the state’s corporate income tax, or ‘Business Profits Tax,’ will drip from 7.6 to 7.5 percent beginning Jan. 1.
* NEW YORK: Under 2022’s SB 8009, New York will accelerate reductions in the state’s personal income tax rated for “middle-income earners” first adopted in 2016.
Beginning Jan. 1, the tax rate applied to income between $13,900 and $80,650 for single filers, and between $27,900 and $161,550 for joint filers, will be 5.5 percent, down from 5.85 percent. The tax rate on income between $80,650 and $215,400 for single filers, and between $161,500 and $323,200 for joint filers will decline from 6.25 percent to 6 percent.
Also beginning Jan. 1, New York will resume assessing its gas tax. The state’s 16 cents per gallon motor fuel tax had been suspended since June 1, 2022.
* NORTH CAROLINA: Under 2021’s SB 105, North Carolina’s flat personal income tax rate will decline from 4.99 to 4.75 percent on Jan. 1.
The rate is set to continue declining 3.99 percent by 2027, with North Carolina’s current 6.9 percent corporate income tax to disappear entirely by 2030.
Also beginning in 2023, the state’s franchise tax will be a simplified net worth levy instead of the three different franchise tax liability rates previously assessed.
* ALABAMA: Under 2022’s HB 162, Alabama will exempt the first $6,000 of retirement and military pension income for those 65 or older from income taxes beginning Jan. 1.
State lawmakers in 2022 also revised Alabama’s “business privilege tax,” reducing the minimum payment of $100 to $50 a year.
* DELAWARE: Under 2022’s SB 188, Delaware will increase its exemption from taxation on retirement and military pension income from $2,000 to $12,500 for those 60 and older beginning Jan. 1.
* RHODE ISLAND: Under 2022’s HB 7123, Rhode Island will boost its exemption on taxation on retirement and military pension income from $15,000 to $20,000 beginning Jan. 1.
* ILLINOIS: Under SB 157, Illinois’ Child Tax Credit will increase from 18 to 20 percent of the federal Earned Income Tax Credit (EITC) beginning Jan. 1.
On the other side of the ledger, the state’s gas tax inflation adjustment will be implemented on Jan. 1 following a six-month freeze. The state’s 42.3 cent tax on a gallon of gas will increase by 3.1 cents. Another inflation adjustment will be implemented in July.
* ARKANSAS: Under 2022’s HB 1002, reductions in personal and corporate income tax rates will be accelerated. Beginning Jan. 1, the top tax rate on personal income will dip from 5.5 to 4.9 percent, and the state’s corporate income tax rate will go down from 5.9 to 5.3 percent.
* PENNSYLVANIA: Under 2022’s HB 1342, Pennsylvania’s corporate income tax rate will be reduced from 9.99 percent to 8.99 percent on Jan. 1. The corporate tax rate will decline by a half-percent until it reaches 4.99 percent by 2031.
* OKLAHOMA: Under 2022’s HB 3418 in May 2022, Oklahoma will become the first state to make permanent a 100 percent bonus depreciation allowance for investments in machinery and equipment beginning Jan. 1.
The state will also require that local sales taxes be levied on retail sales of tangible personal property in 2023.
* VIRGINIA: Under several 2022 bills, Virginia will exempt groceries and essential hygiene products, including menstrual products, from the state’s 1.5 percent sales tax beginning Jan. 1.
Also, retired military pensioners 55 and older will be eligible to subtract up to $20,000 in military benefits from taxable income in 2023, up from $10,000. That exemption will increase to $30,000 in 2024 and $40,000 in 2025.
* KANSAS: Under 2022’s HB 2106, Kansas will begin phasing out its 6.5 percent sales tax on groceries to 4 percent on Jan. 1. The sales tax on groceries will decline to 2 percent in 2024 before disappearing in 2025.
* COLORADO: Under 2022’s HB 22-1055, Colorado will exempt diapers and menstrual products from sales taxes.
Brazil’s First Corn Shipment To China Indicates Shifting Trade Flows Could Endanger US Dominance
Brazil, the world’s second-largest corn exporter, sent its first vessel carrying corn to China this month. Global trade flows are shifting away from the US, the largest exporter of corn, as China reduces its reliance on the Midwestern US farm belt.
Commodity traders have tracked the Star Iris, the bulk carrier hauling 68,000 metric tons of grain for Chinese trader Cofco Corp., which left Brazil late last month and just arrived in Singapore.
Bloomberg said Beijing decided to purchase Brazilian grains in May to “reduce dependence on the US and replace supplies from Ukraine cut off by the Russian invasion.”
Reuters recently quoted Brazil’s National Association of Grain Exporters as saying Brazilian corn exports could surge next year because of China.
There’s still a while until Brazil threatens the US dominance of the China ag market. More than 20 bulk carriers with US corn are currently en route to China. Still, Brazil’s first corn shipment to China might indicate global trade flows are shifting.
There are now an estimated 1.7 million electric vehicles (EVs) on U.S. roads, compared to roughly 400,000 in spring 2018. That means that a lot more Americans are experiencing the joys and pitfalls of EV ownership, from silent, swift acceleration and emission-free driving on the positive side to slower fueling times and shorter driving ranges on the negative side.
More Americans are also learning that frigid temperatures affect EVs differently than internal combustion engine (ICE) vehicles, chiefly by cutting into their driving range to a greater extent. While a typical ICE vehicle might have its range reduced by 15% to 25% in below-freezing temperatures, an EV’s range will be slashed 20% to 50% depending upon driving speed, temperature, and interior climate preferences. Combustion reactions occur more inefficiently at colder temperatures, accounting for the range decline in ICE vehicles. But cold slows the physical and chemical reactions in EV batteries to a larger degree, limiting the energy and power the battery can deliver to the motors. Moreover, while ICE vehicles utilize otherwise wasted heat from the engine to warm car interiors in winter, EVs use electric heaters to perform much of the climate control, further draining the already hamstrung battery.
The Arctic blast that chilled much of the “Lower 48” last week showcased the EV range hit to more Americans than ever, and also yielded a few more lessons.
EV owners sounded off about their experiences on social media and subreddits. Here are a few of the takeaways:
1. EVs are not ready for frigid road trips.
I warned about this in August: Driving an EV on the highway in extreme cold will produce a range loss of 40% or more. EV owners of various brands traveling for the holidays shared numerous stories verifying this annoying (and potentially dangerous) reality. Drivers traveling in temperatures at or around zero with a headwind could go only 100 to 150 miles before needing to stop and recharge, depending upon the car, significantly increasing travel time. When they did charge, they had to deal with another disconcerting problem with EVs and winter…
2. EV fast-chargers operate much more slowly in extreme cold, if they work at all.
The colder the EV battery, the slower the rate of charge that it will accept, making “fast-charging” in subzero temperatures a potentially miserable and plodding experience. Think a 45 to 60 minute charge instead of a 25 to 35 minute one. To top it off, users reported that fast-charging equipment, particularly from Electrify America, often just didn’t work in temperatures below -10 °F. Tesla’s proprietary Superchargers didn’t seem to have the same reliability issues. The generally sorry state of charging infrastructure shed light on another takeaway…
3. EVs driven in regions with a cold winter need to be charged at home.
Preferably with a garage. Owners simply can’t rely on public infrastructure in its present state with current battery technology. However, this situation could easily change in five to ten years with novel batteries that suffer less range loss and more widely available chargers, preferably housed indoor.
4. Aside from range issues, EVs handled the Arctic air well.
Owners reported that their cars started without issue, drove well (albeit with slightly reduced power), and heated quickly thanks to their fast-acting electric heaters. For drivers who didn’t need to worry about traveling long distances, their EVs were functional, comfortable, and relatively untroubled by the cold.
Biden Family Disowns Hunter’s 4-Year-Old Daughter, Remains “Estranged From The Child”
The Biden family has remained “estranged” from Hunter Biden’s 4-year-old daughter, and ‘seemingly wants nothing to do with the child,’ according to the Daily Beast, citing the Northwest Arkansas Democrat Gazette.
The woman who mothered Hunter’s secret lovechild, Lunden Alexis Roberts, filed paperwork on Tuesday requesting that an Arkansas court allow the child, Navy Joan Roberts, be given the Biden name, claiming that the toddler would “benefit from carrying the Biden family name” because it’s “now synonymous with being well educated, successful, financially acute, and politically powerful.”
The Bidens, meanwhile, have completely ignored the President’s grandchild – striking her attendance from the 46th presidential inauguration and allegedly refusing to offer security aid to the mother-daughter pair, despite domestic violence threats from Roberts’ ex.
The filing cites President Biden, Jill Biden and Hunter’s late brother Beau as examples of successful individuals bearing the last name, and says that the Biden family remains “estranged from the child. To the extent this is misconduct or neglect, it can be rectified by changing her last name to Biden so that she may undeniably be known to the world as the child of the defendant and member of the prestigious Biden family.”
Roberts, originally from Batesville and an Arkansas State University graduate, met Hunter Biden while she was living in Washington, D.C., and worked for him, Lancaster previously said.
The child, initially referred to in the case as “Baby Doe,” was born in August 2018; the paternity suit followed in May 2019, days after Hunter Biden’s marriage to a South African filmmaker, the former Melissa Cohen.
A DNA test showed, “with near scientific certainty,” that Biden is Baby Doe’s father, Judge Holly Meyer declared in a January 2020 order. That month the parties agreed on temporary child support until the issue was resolved. -Northwest Arkansas Democrat Gazette
Hunter Biden wrote in his 2021 book “Beautiful Things” that he fought Roberts’ paternity suit because, being a crackhead, he had no recollection of the incident that led to the pregnancy.
“The other women I’d been with during rampages since my divorce were hardly the dating type. We would satisfy our immediate needs and little else,” wrote Hunter, adding “I’m not proud of it.”
According to Roberts, Hunter has a “long, and lengthy, history of attempting to avoid discovery by filing endless and recurrent motions for protective orders. Additionally, this case was finally resolved the first time when this court denied the defendant’s motion for a protective order relating to discovery.”
Roberts has requested a list of Hunter’s residences for the past 10 years, along with vehicles he’s owned or driven for the past five years in order to obtain evidence of his “well-established history of a lavish lifestyle.”
“[Biden] objects and refuses to provide all the requested information. Instead, [Biden] seeks a protective order,” reads a filing. She’s also requested information related to a federal investigation into Hunter’s “tax affairs.”
“This information is relevant to determine if, as Federal authorities insinuated, the defendant failed to disclose all his income as this goes to earning capability and Mr. Biden’s credibility.”
The year 2022 brings an end to an era of illusions: a year that saw the end of the post–Cold War era and the return of geopolitics; the first energy crisis of the enforced energy transition to net zero; and the year that brought environmental, social, and governance (ESG) investing down to earth with a thump—for the year to date, BlackRock’s ESG Screened S&P 500 ETF lost 22.2% of its value, and the S&P 500 Energy Sector Index rose 54.0%. The three are linked. By restricting investment in production of oil and gas by Western producers, ESG increases the market power of non-Western producers, thereby enabling Putin’s weaponization of energy supplies. Net zero—the holy grail of ESG—has turned out to be Russia’s most potent ally.
It wasn’t only a bad year for ESG on the stock market. Earlier this month, Vanguard announced that it was quitting Glasgow Financial Alliance for Net Zero (NZAM), set up by former governor of the Bank of England Mark Carney a little over a year ago. “We have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks,” the world’s second-largest asset manager said.
Two months ago, Alex Edmans, coauthor of the latest edition of the standard textbook on the principles of corporate finance and professor of finance at the London Business School, published a paper titled “The End of ESG”—without a question mark. Edmans criticizes what has become the primary justification for ESG: the claim that business can generate higher returns for investors by tackling climate change. Since governments are democratically elected by a country’s citizens, they are best placed to address externalities, whereas investors disproportionately represent the elites. “If ESG is pursued for its externalities, companies and investors should be very clear that it may be at the expense of value,” Edmans says.
October also saw the publication of Terrence Keeley’s Sustainable, where the former BlackRock senior executive penned what amounts to a requiem for ESG. Rather than “doing well by doing good,” the logic of Keeley’s case, as I reviewed for RealClear Books, is that investors in conventional ESG investment products are likely to end up not doing very well and leave investors feeling good, not doing good.
It has not all been going one way. In May, HSBC terminated Stuart Kirk, its global head of research at HSBC’s asset-management arm, for voicing some hard truths about ESG. Earlier this month, HSBC announced that it will stop financing new oil and gas fields, putting the West’s third-largest bank on Putin’s side in Russia’s energy war on the West.
What is now a negative factor disadvantaging the West in a world increasingly characterized by East–West geopolitical tensions originated after a period when the United Nations had been fostering a horizontal global division between a rich North and an exploited South. As University of Pennsylvania’s professor Elizabeth Pollman records in her June 2022 paper “The Origins and Consequences of the ESG Moniker,” through the 1970s and early 1980s, the UN promoted the New International Economic Order that called for the regulation of transnational corporations on the alleged grounds that they were widening the gap between developed and developing countries.
After Kofi Annan became secretary-general in 1997, the UN shifted from a strategy of confrontation to co-optation. Speaking at the World Economic Forum in Davos in January 1999, Annan launched a Global Compact between business and the UN. In 2004, the Global Compact’s financial-sector initiative published a report titled “Who Cares Wins”—a rip-off of the British special-forces SAS motto “Who Dares Wins”—arguing for “better consideration of environmental, social and governance factors” in investment appraisals, claiming that this would both improve outcomes for investors and help the UN achieve its sustainable development goals.
ESG means different things, depending on whom you’re talking to. Is it about risk disclosure? Or about factors driving long-term shareholder value? Or is it about society holding business to account? One thing is clear: ESG’s unsustainable dual mandate of boosting shareholder returns and at the same time making the world a better place— “doing well by doing good”—was present at the creation of ESG. It was a masterstroke by ESG’s designers to incorporate “G” for governance. No investor can be against improved governance, and it helped mainstream ESG, whereas previous iterations, such as Socially Responsible Investing (SRI), remained niche.
The 2008 financial crisis subsequently turbocharged the uptake of ESG. Having caused the financial crisis, Wall Street was going to redeem itself by saving the world from a planetary catastrophe. Without climate change, ESG would have vastly less salience. Although marketed as a climate risk analysis tool, ESG is no such thing. In reality, it’s about investors and debt providers driving the decarbonization of Western companies and sunsetting its oil and gas companies.
According to ESG doctrine, there are two types of climate financial risk—physical risk and transition risk—and it’s straightforward to demonstrate that both are spurious. Take the Bank of England. For its climate stress tests, the Bank of England uses a scenario derived from the Intergovernmental Panel on Climate Change’s (IPCC) extreme and physically implausible RCP8.5 climate scenario. Roger Pielke, Jr., professor of environmental studies at the University of Colorado–Boulder, and Justin Ritchie have documented how use of the RCP8.5 scenario represents “a stubborn commitment to error,” with its absurd projection of a sixfold growth in per-capita coal consumption to 2100, based on erroneous reports in the late 1980s of virtually unlimited coal deposits in Siberia and China. The Bank of England compounds implausibility with impossibility by taking the RCP8.5 pathway of 4 degrees by the turn of the century and telescoping it into a 3.3-degree Celsius rise by 2050. Central banks resorting to these types of games constitutes strong evidence that climate physical risk is a nonissue for financial stability.
When he was governor of the Bank of England, Mark Carney gave an agenda-setting speech alleging a tragedy of the horizon as the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors. Climate catastrophes are presumed to be triggered by tipping points, one of the earliest being the melting of the Greenland and West Antarctic ice sheets. In its sixth assessment report, the IPCC declared that with sustained warming, there was limited evidence that the Greenland and West Antarctic ice sheets would disappear “over multiple millennia.” That is some time horizon. Despite the best efforts of central bankers, geologic timescales of millennia and human timescales of decades are completely out of whack.
Similarly, climate transition risk and the stranded assets trope defy economic and financial logic. If you restrict the flow of capital into a sector producing stuff that people want and are willing to pay for, the price of the output of a capital-embargoed sector will rise, as will the value of its invested capital. This, in essence, is what has been happening in energy and capital markets over the past year and explains why ESG as an investment strategy does not work. In the absence of draconian government policies to suppress demand for oil and natural gas, ESG policies strangling the supply of capital to Western oil and gas producers have two effects: they push up the price of hydrocarbons; and they displace supply from Western producers to neutral or hostile ones, with major detriment to the economies and security interests of the West.
Although the disintegration of ESG as an investment strategy became unmistakable in 2022, its existence as a political doctrine will continue until it is challenged and defeated politically. This is already happening in Red states such as Florida, Texas, West Virginia, and Utah. It also requires concerted leadership at a national level to get central bankers and financial regulators to quit playing covert climate policy and to shame banks such as HSBC into switching their support from Russia in the energy wars by dropping their anti–oil and gas financing policies. Defeating ESG not a case of “who cares wins” but “who fights wins.”
