Category Archives: Economics

Miscellaneous economy stuff

That’s One Spin

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Battery car sales seem to be falling off in California.

The Los Angeles Times reported on Thursday that Tesla sales fell significantly in the back half of 2023, declining by 10% in the final quarter alone. This sales drop came despite California’s previous pledge to ban the sale of new gas-powered vehicles in the state by 2035.

The LA Times is busily spinning the reason for the fall-off. The outlet is claiming

“controversial pronouncements” from Tesla CEO Elon Musk.

It added

There’s no survey to prove it, but there’s plenty of anecdotal evidence to suggest liberal-leaning California car buyers are done with Elon Musk’s abrasive personality and his stands on political issues.

No data; LAT just Knows Better.

And this:

If enough buyers here are truly fed up enough with Musk to influence their purchasing decisions, Tesla’s sales could continue to suffer.

On the other hand, Greg Bannon, AAA‘s Automotive Engineering Director, told the LAT

The government and automakers have spent billions on something consumers may not want.

Of course. Who is this Bannon guy, anyway? It couldn’t possibly be that consumers, even in California, are increasingly becoming less enamored of battery cars.

Mm, mm. Nope.

Metaphorical Payroll

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Now the claim is that a number of the extremely wealthy donors pressured Progressive-Democrat President Joe Biden into effecting a moratorium on approvals for new liquified natural gas exports.

Charities controlled by members of the Rockefeller family and billionaire donors were key funders of a successful campaign to pressure President Biden to pause new approvals of liquefied natural gas exports from the US.

And

“They got our attention,” a senior Biden administration official said of the activists’ efforts, describing the campaign as intense.

I beg to differ on the “pressure” part. Joe Biden is the President, not these rich folks. Any pressure he felt would have come from within himself only; no one could force him or threaten him into doing anything.

The only way he would feel any pressure from the Rockefeller family and billionaire donors would be if he were on their metaphorical payroll and feared losing his metaphorical job with them.

‘Course, maybe that’s the case. That is the modus operandi of the richest lobbyists—paying their politicians to do their bidding.

Another Progressive-Democrat State Government…

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…favors illegal aliens over its citizens. New York is opening State government jobs to illegal aliens.

New York is allowing migrants with federal work authorization to apply for thousands of temporary government jobs, [Progressive-]Democratic Governor Kathy Hochul said.

And

I have 10,000 openings in the New York State workforce. These are all legal people.

They’re legal only in a very narrow, legalistic sense. They’re illegal aliens who’ve been—wrongly, I claim—granted temporary work permits.

Hochul also is lowering the requirement to have at least a minimal education, a minimal English language proficiency, and appropriate certifications as criteria for getting these jobs. In sum, she’s extending diversity hire ideology to include illegal aliens.

The larger question, though, is why these jobs aren’t held for the State’s low-paid or jobless citizens and resident aliens—non-citizens present legally?

Eric Adams’ Duplicity

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Or it’s the incompetence of New York City’s Progressive-Democratic mayor, Eric Adams.

After warning that a surge in illegal arrivals to the Big Apple would “destroy New York City” and blaming the influx for prompting budget cuts, New York City Democratic Mayor Eric Adams reportedly plans to provide illegal alien families with pre-paid credit cards.

A key aspect of Adams’ scheme:

The plan will begin with a $53 million pilot program targeting the migrant residents of the Roosevelt Hotel. Run through Mobility Capital Finance, the pilot plan will provide 500 families with an Immediate Response Card for use on food and infant care supplies.

That works out to $106,000 per illegal alien family. How does that compare with the amounts Adams’ budget commits to the city’s resident—and American citizen—homeless families? How does that compare with the amounts Adams’ budget commits to “ordinary” welfare payments to the city’s resident—and American citizen—families who are at the bottom of the city’s economy?

And this:

The city estimates that roughly 15,000 migrant families currently reside in NYC hotels and the administration plans to expand the program to all of them should the pilot program prove fruitful.

At $106k per each, that accumulates, according to my third grade arithmetic, to $1.59 billion. Beyond that, what logic supports the blatantly unequal treatment that favors those 15,000 families while leaving all those remaining illegal alien families literally out in the cold? Of course, that would run the bill up another billion-and-a-third….

From where does Adams expect to draw those $106k per family in his self-proclaimed environment of City destruction and attendant budget cuts? It’s more of his magical thinking.

More Reasons to Disband

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Now the Biden administration is actively seeking to undermine our friends and allies on top of destroying our energy industry.

The White House on Friday announced a temporary pause on pending decisions of exports of liquefied natural gas to non-free trade countries, until the Energy Department can factor climate change into its reviews of the projects.

Two changes (for starters) are badly needed, and these changes badly need significant majorities in the House and Senate and a Republican in the White House (which puts a premium on the elections this fall).

One of those changes is enactment of a statute giving the relevant approval authority(s) 10 calendar days in which to approve an export application or to provide a detailed explanation for denial, which explanation must have only concrete, measurable reasons, be devoid of generalities, and be publicly available NLT the 11th day. Absent such a decision, the application must be deemed approved.

The other change is the disbandment of the Department of Energy with all Department personnel returned to the private sector, not reassigned elsewhere in the Federal government. The only functions remotely worth retaining are ARPA-Energy and Science and Innovation, which should be folded into ARPA with circumscribed funding authorities.

Another change, in furtherance of the concept of the second change, is the disbandment of the Environmental Protection Agency, with its personnel also returned to the private sector, rather than reassigned within the Federal government. This agency—the managers in charge of it, along with its employees, have for too long conflated environmental protection with climate “protection,” with its cockamamy decisions exemplified by its ruling that plant food in our atmosphere—CO2—is a pollutant.