from Kerry Lutz's Financial Survival Network
John Rubino is back… Maturing debt in a higher interest rate environment is spiking everyone’s debt-carrying cost. US now spends more on interest than defense. Meta is firing thousands of employees this week. Lots of other tech companies doing the same on a smaller scale. Mortgage rates at 7.5%, mortgage demand plunging. The housing bubble has definitely burst. Huge shift in stock market leadership from tech to energy. Twitter take over by Musk and the fallout. Gold and silver had a massive up day on Friday. Meanwhile, central banks are buying gold at a record pace, some of them in secret. Can we talk about the Atlantic “covid amnesty” article and the response to it? Is a Red Wave coming on Tuesday?
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Most solar panels are only 18 percent efficient if faced due south with no trees to shade. Panels don’t work at night (12 hours per day), when it rains, or when covered with snow, desert dust, or overgrown with weeds and shrubs. Panels overheat and efficiency plummets in hot climates. There are no efficient storage batteries that are practical. When the grid goes down so does your electricity. Wind power is limited where there is reliable wind and still no storage method. Panels last 20 years at best and then you will need hydrocarbon energy to make and recycle old, obsolete panels. Manufactured crisis, then nuclear energy to the rescue. How will everyone charge their Tesla’s at night with no battery capacity? What a scam.
You are spot on, Gary. This push for global conversion to green power is led by ill-informed politicians and quasi-techs that have not thought the whole process through. The carbon footprint of a $60,000 EV is actually greater than an ICE vehicle when you factor in the open mining necessary to extract lithium from Mother Earth, the environmental impact of producing heavy plastic batteries and then eventually having to dispose of them, the copper required, not to mention coal to increase the generating capacity of the power grid (hey, California, how is that working out for your guys??), and the construction of charging stations that are woefully inadequate this date for any reasonable travel time for a 500 mile trip. Back to the drawing board, and nuclear and coal-fired plants are going to spring like May flowers in the quarters and years to come. Got uranium??
Excellent commentary but you failed to mention Co2 is the staff of life.
Without Co2 plant life dies and without plants animal life including humans
die. The world needs more Co2 not less.