Category Archives: Economics

Big Banker Larry Fink abandons renewables for AI

Writes Joanne Nova:

Way back in his 2021, annual CEO letter, Larry Fink, CEO of BlackRock, wrote: “No issue ranks higher than climate change.” It will reshape global capital flows, he said, and declared, “…anyone can see the impact of climate change in the natural disasters in California or Florida.”

Now though, never mind about global extinctions and flash floods. Fink just spoke at the Davos ski club for billionaires and declared that we need “trillions of dollars” of investment for AI. Data centres, he said, are rapidly expanding — one technology company he spoke to said that “its data centres currently use about 5 gigawatts, but by 2030 it expects to need 30 gigawatts.”

But like a true banker, he doesn’t see a backflip, he sees only investment opportunities — the world is short of power he says. (He doesn’t say that this is in large part because BlackRock leaned on companies and countries all over the world to abandon fossil fuels.) Fink helped create the energy shortage that he now calls an investment opportunity. BlackRock is the largest asset manager in the world, controlling $10 trillion dollars in assets, or five times Australia’s GDP. When that much money talks, everyone listens.

Now Larry Fink throws wind and solar under the bus.

He’s matter-of-fact, with a straight face, almost like he never pushed intermittent generators:

Fink: “At the same time, this represents a huge investment opportunity. The world is going to be short of power. And to supply these data centres, you cannot rely solely on intermittent sources like wind and solar. You need dispatchable power, because these data centres cannot simply turn on and off.”

Climate Cult’s Inevitable Dissolution

Article by co2coalition.org

Article by Vijay Jayaraj.

Excerpt:

The collapse of the Paris Agreement and the unmasking of the net zero illusion were never hard to predict for anyone with a shred of intellectual honesty. It didn’t take a fancy research title or an advanced degree. The writing was carved deep into the stone of energy reality, which no press release, no activist lobby and no billionaire-backed foundation could erase.

The Heinous Nature of Headlines and Propaganda as an Experiment in Psychological Manipulation

Article by Gary D. Barnett.

He starts it off with a quote from Edward Bernays‘ 1928 book ‘Propaganda‘, in which he writes:

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society.“

(Bernays, by the way, was a nephew of Sigmund Freud.)

Then, in his own article, Barnett writes:

For most, it is a struggle to just get up and face the day, or at least that is the case for a majority of the population. Because of that, most choose to hide from reality in order to satisfy a dream-state, instead of facing the truth. It is as if the entirety of this population is in a mind-control experiment, and are being hypnotized to accept their own slavery as the best option. AI, if allowed to take over society, can accomplish that designed outcome, just as is sought by the oligarchs.

He ends his article with these words:

This reality is not accidental, it has been purposely created in order to capture the psyche of the majority. Something is greatly amiss here, as so many of this population have effectively given up on actual life in favor of a State-structured life based on fraudulent perception as a way of escaping what is real. This is terribly disturbing, as the last thing needed at this time is a country full of obedient zombies. This makes me wonder if the “Invasion of the Body Snatchers,” was simply a prescient preview of things to come.

“Is there any point in public debate in a society where hardly anyone has been taught how to think, while millions have been taught what to think?”

The Long Betrayal: How Modern Monetary Policy Became a Machine for Ruin

Article by Sebastian Wang.

Excerpt:

Keynes: Misused, Misunderstood, and Weaponised

Austro-libertarians often reject Keynes outright. But fairness demands a distinction between Keynes’s actual theory and what has been done in his name.

Keynes did not advocate permanent deficits or chronic inflation. His argument was specific: when private demand collapses as a result of previous political or banking mistakes, the state may need to support employment temporarily until confidence returns. He believed that deficits should occur in recessions, and budget surpluses should follow in recoveries. His famous dictum was clear:

“The boom, not the slump, is the right time for austerity.”

Nothing in that sentence resembles the behaviour of modern governments.

The post-war political class discovered that Keynesian rhetoric provided a moral cover for something they already wanted to do—spend without restraint. They kept the deficits but abandoned the surpluses. They celebrated “stimulus” and ignored discipline. And so Keynes’s emergency prescription became an open-ended licence for irresponsibility.

The tragedy is that Keynes wanted to stabilise capitalism. His followers hollowed it out.

The Unholy Synthesis: Politics, Banking, and the Illusion of Wealth

By the late twentieth century, the system had settled into a stable pattern:

  1. Governments ran structural deficits.
  2. Central banks bought their bonds, expanding reserves.
  3. Commercial banks multiplied those reserves through credit.
  4. Asset prices rose.
  5. Voters mistook asset inflation for prosperity.
  6. Politicians claimed victory.

It is a mutually reinforcing cycle. The state gets cheap debt. Banks get profitable leverage. Voters get rising house prices. And the economy absorbs wave after wave of malinvestment.

But the structure is inherently unstable. It requires ever-growing debt to sustain the illusion. It cannot tolerate honest interest rates. It collapses if credit contracts. It accumulates imbalances so large that no democratic government can address them openly without committing political suicide.

This is not capitalism. It is a form of monetary serfdom disguised as modernity.

Why the System Cannot Reform Itself

Reform would require at least three impossible acts:

  • A political class willing to accept short-term pain to avoid long-term ruin.
  • A banking sector willing to surrender its privilege of creating money.
  • A voting public willing to accept falling asset prices and higher interest rates.

No such coalition exists. Every attempt at reform triggers electoral revolt. Every crisis invites a new round of emergency interventions that further entrench the existing machinery. The conclusion is harsh but unavoidable: The current monetary order cannot be reformed. It can only fail.

Thirty years of COP failures: the damning assessment of a climate process disconnected from reality

Article by Samuel Furfari, who ‘is an engineer, and PhD from University of Brussels. He is a Professor of energy geopolitics and policy. For 36 years he was a senior official in the European Commission’s Directorate-General for Energy. He is author of numerous books.’ 

Excerpt (conclustion):

It is time to turn the page on climate illusions and recognize that the global priority must be economic development and access to energy for all. As the changing positions of emerging countries demonstrate, the future does not belong to ideological decarbonisation, but to energy pragmatism, which alone can meet people’s legitimate aspirations for prosperity, quality of life and well-being. The time has come to abandon a United Nations process that has proved ineffective and to shift international efforts to the real priorities: the fight against poverty and economic development for all through access to abundant and cheap energy.